Thursday, August 22, 2013

Florida Sale Away Corporation Northeastern Division has sales of $525,000 in the year 2001

Florida Sale Away Corporation Northeastern Division has sales of $525,000 in the year 2001. By 2012, sales had increased to $1,200,000. The Vice President of Marketing has requested that you calculate for her what the average annual rate of increase is on sales for the Northeastern Division.

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Tim, one of the long term employees at Florida Sale Away Corporation, meets with you to discuss his company retirement account

Tim, one of the long term employees at Florida Sale Away Corporation, meets with you to discuss his company retirement account. He has paid $250 per month into a 401K retirement plan. After 30 years, his plan has accumulated $500,000. He requests that you calculate for him his average annual rate of interest earned over the 30 years of participation in this plan?

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Florida Sale Away Corporation is considering the purchase of a small warehouse at a cost of $300,000

Florida Sale Away Corporation is considering the purchase of a small warehouse at a cost of $300,000. The firm plans to apply $60,000 as a down payment on the warehouse and borrow $240,000 from the bank to complete the purchase. The Chief Financial Officer asks you to determine how much will each monthly payment be on the debt assuming an interest rate of 5% assuming equal monthly payments for 30 years?

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An intern working at Florida Sale Away Corporation asked you to join him for lunch to discuss an inheritance of $5,000 that he recently received

An intern working at Florida Sale Away Corporation asked you to join him for lunch to discuss an inheritance of $5,000 that he recently received. He wondered if he deposited the $5,000 in a savings account that pays 8% interest per annum, how long would it take him to double his savings. Please help him out with your answer and explanation.

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The CEO of Florida Sale Away Corporation has decided, with the agreement of the Board of Directors, to buy an annuity for each of the corporate officers

The CEO of Florida Sale Away Corporation has decided, with the agreement of the Board of Directors, to buy an annuity for each of the corporate officers. He is considering the purchase of several twenty year ordinary annuities, each of which will be worth $30,000 at the end of the 20 years. He asked your boss what the present value of one of these annuities would be worth. Your boss, the Chief Financial Officer of the firm, asked you to calculate the present value of one of these 20 year ordinary annuities of $30,000 using an estimated 6% discount rate and email her your answer and an explanation of your findings.

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Your boss at Florida Sale Away Corporation has another investment project for you to complete

Your boss at Florida Sale Away Corporation has another investment project for you to complete. Our firm will receive a legal settlement on a patent issue in three years from now for $10,000. She asks you to calculate what this settlement is worth to the firm today if the discount rate is 7%.

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You are the assistant Financial Manager for the Florida Sale Away Corporation

You are the assistant Financial Manager for the Florida Sale Away Corporation. The Chief Financial Officer ask to you invest $15,000 of excess cash funds in an annuity which will return $26,300 dollars at the end of nine years. Or, as an alternative, consider investing the $15,000 in a FDIC insured commercial certificate of deposit at 8% for nine years. What will the certificate of deposit earn at the end of 9 years? Which of the two alternatives will yield the most income?

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SEA SHORE SALT COMPANY ANALYSIS OF WEIGHTED AVERAGE COST OF CAPITAL BERNICE STARTED WORKING ON JANUARY 2, 2009

Analysis of weighted average cost of capital

Bernice started working on January 2, 2009. the first 2 weeks went smoothly. then Mr. brinepool\'s cost of capital memo (see figure 13-2) assigned her to explain sea shore salt\'s weighted average cost of capital to other managers. the memo came as a surprise to Bernice so she stayed late to prepare for the questions that would surely come the next day. Bernice first examined sea shore salt\'s most recent balance sheet, summarized in table 13-6 below. then she jotted down the following additional points:

the company\'s bank charged interest at current market rates and the long term debt had just been issued. book and market values could not differ by much.
but the preferred stock had been issued 35 years ago, when interest rates were much lower. the preferred stock was now trading for only $70 per share.
the common stock traded for $40 per share. next year\'s earnings per share would be about $4 and dividends per share probably $2. sea shore salt had traditionally paid out 50% of earnings as dividends and plowed back the rest.
earnings and dividends had grown steadily at 6% to 7% per year, in line with the company\'s sustainable growth rate: sustainable rate growth rate=return on equity x plowback ratio =4/30 x .5 =.067, or 6.7%.
sea shore salt\'s beta had averaged about .5, which made sense, Bernicethought, for a stable, steady-growth business. she made a quick cost of equity calculationby using the capital asset pricing model (CAPM). with current interest rates of about 7% and a market risk premium of 7%: CAPM cost of equity==7%+.5(7%) =10.5%.
this cost of equity was significantly less than the 16% decreed in Mr. binepool\'s memo. Bernice scanned her notesapprehensively. what if Mr. brinepool\'s cost of equity was wrong? was there some other way toestimate the cost of equity as a check on the CAPM calculation? could there be other errors in hiscalculation? Bernice resolved to complete her analysis that night. if necessary, she would try to speakwith Mr. brinepool when he arrived at his office the next morning. her job was not just finding theright number. she also had to figure out how to explain it all to Mr. brinepool.


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Claymore Consultants: Organising for survival

Claymore Consultants: Organising for survival

In 1989 Angus Buchanan, a marketing specialist, and Hamish Moray, a business analyst, then both aged 80, established Claymore Consultants, a management consulting firm that provides advice to companies on issues of strategy, organisation, technology and operations. The business is based in Melbourne. When Claymore Consultants commenced operations, the provision of professional consulting services was an industry in its infancy. ForAngus and Hamish, who had worked together in a large multi- rational accountancy firm, it represented an untapped market with huge potential. In the first two years business was difficult, but they worked hard to build a network of corporate clients and gradually their reputation grew. As business took off, Angus and Hamish had to recruit more staff to cope with demand.



2000 words paper


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A company has just hired you as its new senior accountant

A company has just hired you as its new senior accountant. As part of your job duties, you will be responsible for leading and managing the month-end and year-end closing process. During your first month on the job, the company’s auditing firm has asked you to document the closing process (both monthly and yearly), including each step involved.



The document should discuss the routine steps that are followed on a monthly and yearly basis as well as the steps that make up the company’s accounting cycle. Further, you will need to describe how the closing process directly impacts the preparation of financial statements. Make sure you incorporate several basic accounting principles and assumptions, such as the matching principle, revenue recognition principle, monetary-unit assumption, etc. You must incorporate research to complete this assignment.



Write a 4 page memo to the audit firm which includes the following information:



Part 1

•Month-end process

•Year-end close process

•Basic steps of the accounting cycle

Part 2

•Explain how the closing process impacts the company’s financial statements.

•What accounting assumptions and principles are involved in the month-end and year-end closing process? How is GAAP adhered to?

Part 3

•Summarize your memo by advocating for the use of standard practices in financial reporting.


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SHOULD FRED HIRE MIMI DESPITE HER ONLINE HISTORY

1100 words case analysis


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Cascade Water Company ( CWC) currently has 30,000,000 shares of common stock out-standing that trade at a price of $ 42 per share

Cascade Water Company ( CWC) currently has 30,000,000 shares of common stock out-standing that trade at a price of $ 42 per share. CWC also has 500,000 bonds outstanding that currently trade at $ 923.38 each. CWC has no preferred stock outstanding and has an equity beta of 2.639. Th e risk- free rate is 3.5%, and the market is expected to return 12.52%. Th e firm’s bonds have a 20- year life, a $ 1,000 par value, a 10% coupon rate and pay interest semi- annually.





CWC is considering adding to its product mix a “ healthy” bottled water geared toward children. Th e initial outlay for the project is expected to be $ 3,000,000, which will be depreciated using the straight- line method to a zero salvage value, and sales are expected to be 1,250,000 units per year at a price of $ 1.25 per unit. Variable costs are estimated to be $ 0.24 per unit, and fixed costs of the project are estimated at $ 200,000 per year. Th e project is expected to have a 3- year life and a terminal value ( excluding the operating cash flows in year 3) of $ 500,000. CWC has a 34% marginal tax rate. For the purposes of this project, working capital effects will be ignored. Bottled water targeted at children is expected to have different risk characteristics from the firm’s current products. Therefore, CWC has decided to use the “ pure play” approach to evaluate this project. After researching the market, CWC managed to find two pure- play firms. Th e specifics for those two firms are:











Firm Equity Beta D/ E Tax Rate



________________________________________________





Fruity Water 1.72 0.43 34%





Ladybug Drinks 1.84 0.35 36%











1. Determine the current weighted average cost of capital for CWC.







2. Determine the appropriate discount rate for the healthy bottled water project.


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write a 3 page paper or reporter about : Micro Enterprise and Micro Finance

write a 3 page paper or reporter about : Micro Enterprise and Micro Finance - Definition of \'Microenterprise\' or SMEs. - Definition of \'Microfinance\'


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Ram Industries produces two products in its Windsor, CO plant: X5 and Y12

Ram Industries produces two products in its Windsor, CO plant: X5 and Y12. For the coming year, budgeted production of X5 is 100,000 units and of Y12 is 80,000 units. Expected costs and activity are as follows:



Dir Mat Dir Labor Mach Hrs Setups Parts*



X5 $700,000 $1,600,000 18,000 120 10

Y12 $1,000,000 $2,400,000 32,000 280 20



* number of unique parts for this model



Factory overhead is expected to be $7,000,000.



Assume that Ram uses a traditional costing system with a single plant-wide overhead pool allocated on the basis of direct labor cost. Determine the total budgeted cost per unit of the two products. Show your calculations.
Assume instead that Ram uses an ABC system with three cost drivers: machine hours, setups, and number of unique parts. The budgeted amounts of the three cost pools are:
Machine Hours $4,000,000

Setups $2,100,000

Parts $ 900,000

Determine the cost per unit under the ABC system.


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Monday, August 19, 2013

County Museum is planning a fund-raising dinner

County Museum is planning a fund-raising dinner. The initial plan was to charge $75/ticket. Catering costs would be $45/plate. Rent of the facility would be $2,500 for the event, and all labor (not including caterer) would be volunteer. A string quartet would provide dinner music for $1,200. It is expected that 240 persons would attend this dinner.

A new plan has been put forward for a more deluxe event, with tickets costing $120. Catering for the more elaborate dinner would run $70/plate. Bigger “name” entertainment would be hired instead of the strings, costing $5,000. Paid staff would be hired for $900 in order to provide better service. How many tickets must be sold for the more deluxe event in order for it to yield the same profit as the original plan? [Note that the answer must be a whole number, as fractional tickets are not sold]


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CumberlandCompany has had the following experience over the past five quarters

CumberlandCompany has had the following experience over the past five quarters:



Units produced Electricity cost ($)

87,000 144,500

92,000 151,000

81,000 138,500

90,000 150,000

95,000 159,500



a) Using the high-low method, determine an equation for electricity cost (Y) as a function of units produced (X). Assume a linear function.

b) Using your equation, forecast electricity cost at a volume of 88,000 units produced.


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You are part of a team proposing the development of a new two-bladed doodad

You are part of a team proposing the development of a new two-bladed doodad. The project was begun earlier this year under different management. The product is scheduled for introduction during the first quarter of 2013. Though money has been spent already, the new management is skeptical about the project and is asking a number of questions, among them the basic question of whether to continue this project at all. It has fallen to you to do the financial analysis. It is now the very end of the third quarter of 2011.

The development spending schedule is as follows:

Qtr

$1,000\'s

Q1, 2011

30

Q2, 2011

5

Q3, 2011

25

Q4, 2011

45

Q1, 2012

45

Q2, 2012

15

Q3, 2012

25

Q4, 2012

25

Q1, 2013

15



Marketing did some field research and conducted focus groups earlier this year. They will begin promotional spending before product introduction. The Marketing spending plan for research, introduction and promotion schedule is as follows:

Qtr

$1,000\'s

Q3, 2010

25

Q1, 2011

50

Q3, 2012

25

Q4, 2012

30

Q1, 2013

100

Q2, 2013

80



From Q3, 2013 onward for the life of the product, Marketing will spend 15,000 per quarter in ongoing promotional activities aimed solely at maximizing the sale of twobladed doodads.

In support of the project, Manufacturing expects to spend 25,000 as a down payment on equipment in Q2 of 2012 and a progress payment of 65,000 in Q3. The equipment (including a finishing line) will be received, installed and debugged in Q4 of 2012.

During that quarter, final payment on this equipment (in addition to the progress payments) will be $2,000,000. This will provide adequate capacity for up to 150,000 two-bladed doodads per quarter with one only exception. The dedicated finishing line can handle only 100,000 two-bladed doodads per quarter. A second finishing line would cost $300,000. The good news is that, should the second finishing line be required, it can be purchased, installed and debugged in the quarter before it is needed and no down or progress payments are required.

Based on pent-up demand, sales are expected to start strong and grow rapidly. Sales in Q1 of 2013 (the first quarter of production and sale) are forecast to be 80,000 units.

Thereafter, each quarter\'s sales are expected to exceed the previous quarter\'s by 3%. This is a JIT operation so production volume will be equal to sales volume in any given quarter. (There will be no inventory.) In 2013, each two-bladed doodad will cost us $6.50 to produce and we will sell it for $10.00. At the beginning of each subsequent fiscal year we expect to experience a 3% increase in cost but we plan to more than offset it with a simultaneous 4% price increase.

The sales people sell other things as well and are already on the payroll. They are paid

only a salary (with fringes, of course); there are no commissions, bonuses, etc. Total annual expense for sales salaries, including fringes, is $150,000 per quarter. Another team is working independently on the revolutionary THREE-bladed doodad. This is a major project that will require a lot more development time than the two-bladed doodad. However, it is expected to be a breakthrough product that will totally and instantaneously replace the two-bladed doodad when it is introduced in Q1 of 2016.

Therefore, the last quarter in which we can sell two-bladed doodads is Q4 of 2015. There is no scrap value for the equipment used for the two-bladed doodads nor can it be used for the three-bladed model.

The company\'s hurdle rate has been set at 25%. (You may take the quarterly hurdle rate to be 6.25%)

For simplicity, you may assume all expenses and revenues for a quarter get applied at the end of that quarter. You may ignore the effects of taxation, etc. The expense for equipment (other than the down and progress payments) is incurred at the end of the quarter in which the equipment is received.

As a member of the team analyzing this project to determine whether it should be continued, your assignment is to determine the following:

1. What is the current net present value (NPV) of the two-bladed doodad project at the current annual hurdle rate of 25%?

2. Is this an acceptable project for the company? Why or why not?

3. What is the actual annualized Internal Rate of Return (IRR) from this project?

4. If the company\'s annualized hurdle rate was 30%, would this be an acceptable investment? Why or why not?

5. If a competing, mutually exclusive project (“Project X”) had a net present value of $100,000, which one would we pursue, Project X or our doodad project (all other factors being equal)? Why or why not?

6. You\'ve just discovered an advanced robotic blade sharpener that would increase machinery cost by $500,000. Timing will be the same and the increase would be applied to the final payment. The advantage of this machine is that it would reduce the initial unit cost by $0.50. Initial selling price will remain unchanged. Should you opt for the more expensive sharpener? Why or why not?

7. Someone has suggested that, rather than install the second finishing line, we simply cap production at 100,000 two-bladed doodads.

If we were to do that and avoid the cost of the second finishing line, what would be the NPV and IRR? Should we continue with the plan to install the finishing line? To make sure we communicate, don’t answer “yes” or “no”, answer “Cap production.” or “Buy the finishing line.” Give the reasoning behind your response. (To keep things simple, let’s forget about the advanced sharpener for this part of the problem; compare this only with the base case. Also, ignore non-financial considerations such as the effect that limiting production would have on the customers\' perception of our company.)

8. Again focusing on the base case and ignoring thetime-value of money for this part only, and assuming the product was otherwise acceptable, can the company execute this project if it can make available a total of $2,000,000 to do so? Why or why not?


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Why quantitative easing monetery policy does not cause higher inflation in US

Why quantitative easing monetery policy does not cause higher inflation in US? using macroeconomic indicator about 800 words


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Add or drop with net present value analysis

Add or drop with net present value analysis: Franklin county hospital, a nonprofit hospital, bought and installed a new computer system last year for $ 150,000. The system is designed to relay information between labs and medical units. Charlene Walker, the hospital’s new computer specialist, had a meeting with Lou Campbell , vice president of finance. She began: Lou, today I read in a journal that a new computer system has just been introduced. It costs$100,000, but I believe that by replacing our old system, we could reduce operating and maintenance costs that are now being incurred. The following are walker’s estimates:







Present system

New system

Purchase and installment price.

Useful life when

Purchased.

Computer operating costs per year.

Computer operating and maintenance costs per year.

Depreciation expense per year.

Cost of capital.

$ 150,000



6 years



$ 45,000



$25,000





$10,833



10%

$100,000



5 years



$30,000



$12,000





$20,000



10%



a. Based on an analysis, what advice do you recommend that walker give Campbell?
b. At what price for the new computer system would Campbell be indifferent?
c. Is this a typical make-or buy decision? Why?


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Determining charges for private pay residents shady rest nursing has 100 residents

Determining charges for private pay residents shady rest nursing has 100 residents. The administrator is concerned about balancing the ratio of its private pay to non-private pay patients. Non-private pay sources reimburse an average of $150 per day whereas private pay residents pay on average 100 percent of full daily charges. The administrator estimates that variable cost per resident per day is $50 for supplies, food, and contracted services, and annul fixed cost are $ 4,562,500.

What is the daily contribution margin of each non-private pay resident?

If 25 percent of the residents are non-private pay, what will shady rest charge the private pay patients to break even?

What If non-private pay payers cover 50 percent of the residents

The owner of shady rest nursing home insists that the facility earn $80,000 in annual profits. How much must the administrator raise the per day charge for the privately insured residents if 25 percent of the residents are covered by non-private pay payers?


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The midtown women’s center offers bone densitometry scans in the office as a convenience to its patients

The midtown women’s center offers bone densitometry scans in the office as a convenience to its patients. The clinic volume is expanding, and Sam Loch, the center’s administrator, is considering dropping the bone densitometry service and converting the space to an exam room to allow for more outpatient visits. The following information has been gathered to help with the decision.

Number of scan per year

Reimbursement for bone densitometry scan 425

Bone densitometry supply cost per scan $65

Part-time bone densitometry scan technician $15

Reimbursement per office visit $15,000

Supply cost per office visit $80

Expected increase in outpatient volume if additional $20

Exam space is available 500

a. What is the contribution margin for the bone densitometry service per year?
b. Should this service continue as opposed to converting it to exam room space?
Why or why not?

c. How many office visits would it take to replace the income from the bone densitometry service?


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Newell Rubbermaid: Strategy in Transition

Newell Rubbermaid: Strategy in Transition

a written analysis of the problems/ solution to the case. The written analysis must include an analysis of the firm’s situation (capabilities, competitiveness issues and financial position) as well as what the problems facing the firm and proposed solutions to the problems identified. When writing this case analysis


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Baxton Technology Case Analysis

Baxton Technology Case Analysis

600 words


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Cost Management is Lean Manufacturing Organization

Cost Management is Lean Manufacturing Organization

Summary of article

350 words


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The accounting principle that requires revenue to be recorded when earned is the

The accounting principle that requires revenue to be recorded when earned is the:

a) Matching principle.

b) Revenue recognition principle

c) Time period assumption

d) Accrual reporting principle

e) Going-concern assumption

2. Adjusting entries:

a) Affect only income statement accounts

b) Affect only balance sheet accounts

c) Affect both income statement and balance sheet accounts

d) Affect only cash flow statement accounts

e) Affect only equity accounts

3. The broad principle that requires expenses to be reported in the same period as the revenues that were earned as a result of the expenses is the:

a) Recognition principle

b) Cost principle

c) Cash basis of accounting

d) Matching principle

e) Time period principle

4. The approach to preparing financial statements based on recognizing revenues when they are earned and matching expenses to those revenues is:

a) Cash basis accounting

b) The matching principle

c) The time period assumption

d) Accrual basis accounting

e) Revenue basis accounting

5. Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of:



a) Items that require contra accounts

b) Items that require adjusting entries

c) Asset and equity

d) Asset accounts

e) Income statement accounts

6. The accrual basis of accounting:

a) Is generally accepted for external reporting because it is more useful than cash basis for most business decisions

b) Is flawed because it gives complete information about cash flows

c) Recognizes revenues when received in cash

d) Recognizes expenses when paid in cash

e) Eliminates the need for adjusting entries at the end of each period



7. Which of the following statements is incorrect?

a) Adjustments to prepaid expenses, depreciation, and unearned revenues involve previously recorded assets and liabilities

b) Accrued expenses and accrued revenues involve assets and liabilities that had not previously been recorded

c) Adjusting entries can be used to record both accrued expenses and accrued revenues

d) Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the effects of the passage of time

e) Adjusting entries affect the cash account

8. An adjusting entry could be made for each of the following except:

a) Prepaid expenses

b) Depreciation

c) Owner withdrawals

d) Unearned revenues

e) Accrued revenues

9. A company made no adjusting entry for accrued and unpaid employee wages of $28,000 on December 31. This oversight would:

a) Understate net income by $28,000

b) Overstate net income by $28,000

c) Have no effect on net income

d) Overstate assets by $28,000

e) Understate assets by $28,000



10. If a company mistakenly forgot to record depreciation on office equipment at the end of an accounting period, the financial statements prepared at that time would show:

a) Assets overstated and equity understated

b) Assets and equity both understated

c) Assets overstated, net income understated, and equity overstated

d) Assets, net income, and equity understated

e) Assets, net income, and equity overstated


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OLYMPUS OPTICAL COMPANY, LTD COST MANAGEMENT FOR SORT LIFE-CYCLE PRODUTCS

Case analysis

3000 words


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How Cost Accounting Distorts Product Costs

How Cost Accounting Distorts Product Costs.

summarize the article \"How Cost Accounting Distorts Product Costs\"



500 words


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Activity Based Management at W.S.Industries (A)

Activity Based Management at W.S.Industries (A)

For the case discussion, we have to response to the article \"Activity-based Management at W.S Industries\"... We have these main questions that we have to answer (A). What are the main differences between the old cost system at W.S. Industries and the new ABC system? (B). W.S. Industries used ABC to drive continuous improvement projects (CIPs). Was it a good idea to link incentives to CIPs? Did W.S. Industries need ABC to execute CIPs? Wouldn\'t workers dream up CIP based on their local knowledge as long as their incentives were linked to savings from CIPs? (C). Is it useful to classify activities as value added and non-value added for CIPs?



500 words


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Cisco Systems, Inc Implementing ERP

Cisco Systems, Inc Implementing ERP

Case summary

600 words


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Frito-Lay, Inc.Sun Chips Multigrain Snacks summarizing the main marketing problem, the key facts, and identifying potential future actions addressing the marketing problem

Frito-Lay, Inc.Sun Chips™ Multigrain Snacks

summarizing the main marketing problem, the key facts, and identifying potential future actions addressing the marketing problem (maximum length = 2 pages).


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OPS 571 Operations Management original

1) __________ is when the activities in the stage must stop because there is no place to deposit the item just completed

A. Buffering

B. Blocking

C. Starving

D. Pacing

2) According to your text, the most common process metric is

A. productivity

B. efficiency

C. utilization

D. throughput time

3) Declining product prices

A. increase the manufacturing costs

! B. lower the break-point

C. result in lower manufacturing costs

D. increase the break-even point

4) The type of processing structure that is used for producing discrete products at a controlled rate is

A. job shop

B. batch

C. assembly line

D. project

5) The best process flow structure to use for making automobiles is

A. job shop

B. batch shop

C. group technology cell

D. assembly line

6) The break-even analysis is a standard approach to determine alternative processes A break-even analysis chart usually present alternative __________ and __________ based upon the units produced or sold

A. demand, supply

B. profits, losses

C. equipment, materials

D. variable, fixed costs

7) A statistical term that refers to the philosophy and methods companies use to eliminate defects in their products and processes by establishing a quality goal of no more than four defects out of every million units is

A. ISO 9000

B. Six Sigma

C. Total Quality Management

D. SERVQUAL

8) Independent demand is:

A. inventory where demand comes from independent suppliers

B. inventory that is independent of any known rules of demand and supply

C. demand that is related to the demand for another item

D. demand determined by the marketplace that requires forecasting

9) An inventory system designed to ensure that an item will be available on an ongoing basis throughout the year is known as

! A. Optional Replenishment System

B. Inventory Accuracy and Cycle Counting

C. ABC Inventory Planning

D. Multiperiod Inventory Systems

10) A/an __________ approach actually schedules in detail each resource using the setup and runtime required for each order

A. infinite loading

B. finite loading

C. forward scheduling

D. backward scheduling

11) What is the net result of reducing the duration of a task (crashing) not on the critical path?

A. Decreased project overhead costs

B. Reduced likelihood of liquidated damages for late delivery

C. Increased slack time associated with the task

!D. Reduction in the project duration

12) The idea of the value density calculation is

A. finding a carrier that can handle the weight

B. matching the weight of the product with an appropriate carrier

C. deciding where items should be stocked geographically and how they should be shipped

D. finding the minimum cost carrier

13) When designing a supply chain,

! A. cost vs customer service must be considered

B. quality vs cost must be considered

C. lead times vs payment terms must be considered

D. customer service vs product customization must be considered

14) According to Hau Lee, which of the following types of products need to be delivered with efficient supply-chains?

A. Custom products

B. Innovative products

C. Grocery products

D. High technology products

15) Which of the following product promotional activities would probably help make the supply chain more efficient?

A. Price promotions that expire on a specific date

B. An "everyday" low price strategy where prices are not dependent on quantity delivered with a specific order

C. Special packaging for a specific event that occurs one time each year

D. A 2-for-1 price promotion

16) The best operating level is

A. the maximum point of the cost curve

B. the level of capacity for which average unit cost is minimized

C. maximum capacity

D. the level of capacity for which total cost is minimized

17) Capacity utilization rate can be computed as

A. Capacity used – best operating level

B. Capacity used x best operating level

C. Capacity used / best operating level

D. Capacity used + best operating level

18) The objective of __________ is to provide an approach for determining the overall capacity level of capital-intensive resources that best supports the company's long-range competitive strategy

A. workforce management

B. management supervision

C. operations management

!D. strategic capacity planning

19) Lean production systems typically require

A. delivery of large lots at frequent intervals

B. buyer inspection of goods and materials

C. multiple sources from which to purchase

D. low inventory levels throughout production

20) Given that the previous forecast of 65 turned out to be four units less than the actual demand The next forecast is 66 What would be the value of alpha if the simple exponential smoothing forecast method is being used?

A. 002

B. 04

C. 004

D. 0.25

21) Linear regression sales forecasting techniques

A. work best when future sales are randomly distributed

B. will not work for declining sales

C. work best when sales are increasing

! D. will not work if future sales forecasts lie on a curve

22) What should the value of alpha be in an exponential smoothing forecast to be very responsive to recent demand?

A. Large

B. Small

C. Negative

D. Zero

23) Which of the following statements are true about time-series forecasting?

A. Time series analysis employs empirical data to forecast future events

B. Time series analysis is used to understand the system underlying and surrounding the item being forecast

C. Under time-series methods, demand is divided into the time-based components such as daily, weekly, etc

D. Time series methods are useful for long-range forecasts when the demand pattern is erratic

24) One option for altering the pattern of demand is

A. hiring employees

B. using overtime

C. carrying inventory

D. pricing

25) Aggregate planners balance

A. demand and costs

B. demand and inventories

C. demand and capacity

D. supply and inventories

26) Which of the following accurately describes a chase strategy?

A. The firm produces the same amount each day over the planning period and deals with the variations in demand through the use of inventory or overtime

B. The firm produces at the same level for several months, and then adjusts production to another level and produces at that level for several more months

C. The firm matches its production rate to meet demand by varying the size of its workforce as demand varies

D. The firm produces the same amount each day within the planning period and deals with variations in demand through the use of outsourcing partners

27) Which of the following reflects net material requirements:

A. gross requirements – scheduled receipts

B. gross requirements – projected available balance + scheduled receipts

! C. gross requirements – projected available balance - scheduled receipts

D. gross requirements – scheduled releases

28) Which MRP system input element specifies how many and when the firm plans to build each end item?

A. Inventory records file

B. Bills of material

C. Master production schedule

D. Capacity planning

29) Which of the following is true about MRP Systems?

A. Based on independent demand

B. Lot sizing is based on Economic Order Quantity

C. Demand pattern is random

D. Objective is to meet manufacturing needs

30) A Material Requirements Planning (MRP) is most valuable in industries where a number of products are made in batches using the same productive equipment and with companies involving

!A. fabrication

B. low number of units annually

C. complex, expensive products

D. assembly operations


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Emotional intelligence abilities and their relationships with team processesby Nicholas ClarkeSchool of Management, University of Southampton, Southampton, UK

Emotional intelligence abilities and their relationships with team processesby Nicholas ClarkeSchool of Management, University of Southampton, Southampton, UK

Please read the article by Clarke (2010) and answer the following questions in writing using 1,500 words overall. You do not need to write this as an essay, just answer each question individually. Please make sure that you also submit it onto OASISPlus by the deadline. Q1) What is the article by Clarke (2010) all about? Q2) What are the main theoretical predictions of this study? Q3) What are the findings of Clarke’s (2010) study? Q4) How can organisations make use of these findings?


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Integrative Cae The Donor Services Department

Integrative Cae The Donor Services Department

General steps to follow (for both writing and presentation): 1) List the facts. 2) Make inferences about the facts. 3) What is the problem (and Why)? 4) Possible solutions to the problem. 5) For each alternative, list positive and negative consequences. 6) Make decision and provide rationale for it. 7) Describe your “lessons learned” form the case.

650 words paper


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The Property, located in Brooklyn, New York, is a 326,608 gross square foot, six story, structure located north of the Williamsburg Bridge

BROOKLYN, NY

BACKGROUND

The Property, located in Brooklyn, New York, is a 326,608 gross square foot, six story, structure located north of the Williamsburg Bridge. The Property is bounded by the East River to the west, K avenue to the east, North 3rd street to the south and North 4th street to the North. Occupying an entire city block, the Property sits on 3.03 acres and has an 82,429 square foot floor plate. The building is currently unoccupied and certain demolition has commenced. The U.S. Department of the Interior National Park Service and the New York State Historic Preservation Office have approved the rehabilitation plan. Residential unit sizes and layouts have been optimized based on the façade and window locations resulting in approximately 270,000 square feet of rentable area and 338 units. Many units will have city and water views and all units will feature loft style finishes and high ceilings. Ground floor retail space will total approximately 17,000 square feet and the Property will have parking spaces on the cellar, first and second floors. Other amenities include an extensive fitness and gym facility with water views, library, TV and activity lounge, children’s playroom, a landscaped private garden on the second floor, a large third floor courtyard, roof top terrace, on-site leasing office, and 24 hour doorman and security. Because the project qualifies for New York City’s J-51 Tax Benefit, there will be no real estate taxes until 11/1/2019. After that date, taxes will be phased in at 20% per annum over the following five years.





ASSIGNMENT

Suppose that you are a tax credit investor considering making an equity investment in this project. In addition to the tax credits that you will receive, you will also be paid a preferred return of 2% annually from available cash flow. Tax credits can be used dollar-for-dollar to offset federal income tax liability.



Please construct a 10-year pro-forma income statement for the project using the information provided in the attached Excel workbook.
Using the information from the project’s operations, please provide a 1 page narrative describing whether or not you would invest in this project and why. Please provide any supporting analysis used to reach your conclusion and state any assumptions that you have made.


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Tuscarora Hardwoods, a custom manufacturer of furniture, uses job-order costing

Tuscarora Hardwoods, a custom manufacturer of furniture, uses job-order costing. The following tran.-

actions to support job MRS-55 for a custom meeting room set-a large table plus 16 chairs-occurre:

in January:

a. Purchased $10,000 ofraw materials.

b. Issued $500 of supplies from raw-material inventory.

c. Purchased $7,000 ofraw material.

d. Paid for the raw material purchased in transaction (a).

e. Issued $8,500 in raw material to the production department.

f. Incurred production labor costs of $12,500, which were credited to Payroll Payable.

g. Paid $23,250 cash for utilities, power, equipment maintenance, and miscellaneous items for the

manufacturing plant.

h. Applied overhead on the basis of 185 percent of $8,500 in material costs.

i. Recognized depreciation on manufacturing property, plant, and equipment of $6,250.

Required

Prepare journal entries to record these transactions.


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The 601 blue Jean Company has decided to allocate the cost of its warehouse and distribution centre to its customers using activity-based costing

The 601 blue Jean Company has decided to allocate the cost of its warehouse and distribution centre to its customers using activity-based costing, In order to better assess profitability by customer. The warehouse manager determines that the only costs that are economically feasible to trace directly to the customer are outbound freight costs. The manager then decides that the following overhead cost pools should be allocated to customers using the following cost drivers:

Overhead Cost Pool

Cost Driver(Allocation Base)

Order Processing Department



Order Filling Department



Quality Control Department

Shipping Department

Number of individual orders processed for that customer

Number of line items on all pull-tickets for that customer

Numbers of cartons shipped to that customer

Number of cartons shipped to that customer



Following are relevant data for each overhead cost pool

Order Processing Department

Total costs of this department

Total number of orders processed



Order Filling Department

Total cost of this department

Total number of line-items on all pull tickets



Quality Control Department

Total cost of this department

Total number of cartons shipped



Shipping Department

Total cost of this department

Total number of cartons shipped



$3,000,000

$200,000





$4,000,000

$4,000,000





$500,000

$2,000,000





$7,500,000

$2,000,000



Following is information pertaining to two customers:

7-9-11 Stores:

Sales revenue for the year

Number of orders

Number of pull ticket line-items

Number of cartons

Outbound freight costs



Men’s Large and Big Stores:

Sales revenue for the year

Number of orders

Number of pull ticket line-items

Number of cartons

Outbound freight costs



$2,400,000

$500

$100,000

$50,000

$75,000





$1,500,000

$250

$20,000

$40,000

$56,000





Required:

A) Compute the overhead rates for each of the four overhead cost pools

B) Calculate the amount of overhead that would be applied to 7-9-11 Stores

C) Calculate the amount of overhead that would be applied to Men’s Large & Big Stores

D) Explain (in one or two sentences) or show (by calculation) how your answer to parts (B) and (C) would change if the company combined Quality Control and Shipping into one overhead cost pool, and allocated overhead for this cost pool to customers based on the number of cartons shipped to that customer.


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LAW 531 Final Exam

LAW 531 Final Exam

1) The concept of flexibility in the law is best illustrated by:

2) The school of jurisprudence that believes that free market forces should determine the outcome to lawsuits is:

3) Which of the following is true about litigating commercial disputes?

4) A ___________ is a court appointed party who conducts a private trial and renders a judgement.

5) ________ is a form of alternative dispute resolution that is often used when the parties involved do not want to face one another.

6) Which form of alternative dispute resolution occurs when the parties choose an impartial third party to hear and decide their dispute?

7) The Double Diamond Dude Ranch is located in Montana and maintains a web site on the Internet Before the Internet, the ranch relied exclusively on word-of-mouth advertising The web site simply provides some general information and lists the ranch's phone number for reservations, but reservations cannot be made online The ranch has no other connections or presence outside of Montana Bob lives in Ohio and learned of the ranch through its web site Bob then spent a week as a paying guest at the ranch, but was injured when he fell off a horse Can Bob sue the dude ranch in Ohio state court?

8) What is the result of the "effects on interstate commerce" test?

9) If there is an area of interstate commerce that the federal government has not chosen to regulate, the states can:

10) The legal effect of the presence of a superceding event is that:

11) If a plaintiff voluntarily enters into or participates into a risk activity that results in injury, what is the most likely defense that he or she may use to a defendant's claim that the plaintiff assumed the risk?

12) The tort of palming off involves:

13) Based on the law of product liability, which of the following is correct?

14) Sean has a 6 year old car which he bought 2 years ago from its original owner Eight months ago he received a recall notice about a safety problem with the brakes He never responded to the notice Yesterday Sean was driving when the brakes failed and caused him to strike and injure a pedestrian Which of the following is true in lawsuits against the car's manufacturer?

15) Little Bobby, five years old, finds his brothers Extendo Sword, which is a toy sword about a foot long which spring out to about five feet long when a button on the handle is pushed His mother tells him to put it down because he will hurt someone if he's not careful Bobby pushes the button when the sword is pointed toward his face and, just as all properly functioning Extendo Swords do, the sword shoots out Bobby is injured and, under products liability, sues the toy store which sold the toy Bobby will most likely:

16) Under federal rules regulating food and drugs, which of the following is true?

17) Which of the following statements best describes the procedures under the Clean Air Act?

18) Mary applied for a permit with a federal administrative agency to operate a business within the boundaries of a popular national forest The agency grants a limited number of these permits that allow operation of the business during the busy tourist season The agency has turned down Mary's application even though she received a permit in the prior year, paid the related fees on time, and violated none of the permit's conditions The agency granted a permit to a different applicant who had never run this type of business previously If Mary appeals the decision to a court, what standard of review will it most likely use?

19) What is the most basic or common remedy available for breach of a contract?

20) The circumstances where an offer cannot be withdrawn under promissory estoppel is also known as:

21) Which of the following is correct regarding a counteroffer?

22) A contract for the sale of land:

23) What does the parol evidence rule do?

24) John is president and sole shareholder of Photo, Inc Photo, Inc wishes to borrow money, but to do so, the bank requires John to orally guarantee to repay the loan if Photo, Inc cannot John's guaranty to repay is:

25) Licensing of informational rights can best be described as:

26) Which of the following best describes how e-mail contracts are viewed under the law?

27) Under the Uniform Computer Information Transactions Act, tender of performance is:

28) William was a factory worker at the Spruce Industries plant When it was learned he was a homosexual, he was fired This action is:

29) Which is true about the two kinds of discrimination that are actionable under Title VII?

30) Which of the following is true about sexual harassment in the workplace?

31) Minimum wage, hours of employment, and child labor are regulated by the:

32) Which of the following is true about the provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA) as they related to health insurance?

33) Which of the following statutes provides that it is legal for employees to organize a union?

34) Edward's Warehouse stores a variety of generic goods for several distributors in Anytown Which of the following describes Edward's liability for the bailed goods should something happen to them?

35) A bailment is:

36) Which of the following would be classified as tangible personal property?

37) What was accomplished by the Visual Artists Rights Act?

38) Which of the following is true about misappropriation of trade secrets?

39) A doctrine that says a patent may not be granted if the invention was used by the public for more than a certain period of time prior to the filing of the patent application is known as;

40) How does an easement appurtenant differ from an easement in gross?

41) Sam sells property to Betty and delivers Betty a deed that says "This property is conveyed to Betty so long as she never operates a bar on the premises." If she operates a bar on the premises, Sam Seller may take possession of the property. The type of interest that Betty Buyer has acquired is a:

42) Which of the following is true about a life estate?

43) What makes a publicly held corporation different from a public corporation?

44) Limited partners can lose their limited liability by Breaching the fiduciary duty to the limited partnership.:

45) If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true?

46) The Sarbanes-Oxley Act provides for the establishment of the _____________ to over see audits of public companies. This will be done to protect the interests of shareholders and investors.

47) The Sarbane-Oxley Act of 2002 was enacted in order to:

48) According to Sarbanes-Oxley, this person or people should sign the Federal income tax return of a corporation:

49) Which of the following is likely to be a breach of a corporate officer's/director's duty of care?

50) In what ways may officers and directors protect themselves from liability for actions taken as an officer or director?

51) There are no accountants on the board of the Oriole Corporation The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation The board does not do an independent analysis of the CPA's report In these circumstances, the board is:


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LAW 421 FINAL EXAM

LAW 421 FINAL EXAM

1) Which of the following does not result in a decision rendered by the hearing officer?

A. Arbitration

B. Mediation

C. Med-arb

D. Using expert evaluators

2) Jurisprudence is defined as

A. adjudication of law suits

B. the enactment of laws by a government body

C. the science and philosophy of law

D. the duties and obligations owed by a citizen

3) The state of Kansas has enacted a new law requiring all commercial trucks driving on Kansas roads to have special mud flaps installed. These mud flaps have been proven to make driving in the rain significantly safer due to reduced mist created by trucks driving in the rain, although data regarding accidents and injuries has not yet been determined. Any truck entering Kansas must have these flaps installed or will be subject to a significant fine and delay. The cost for purchase and installation of these flaps is $1,000 per truck. In short, trucks must have these flaps or go around the state. This Kansas law

A. is valid because it only applies to Kansas roads and such a law is entirely intrastate

B. is valid because Kansas's right to protect its citizens under its police powers will override any outside challenges to this law

C. is invalid because this law is intended to regulate interstate commerce, an enumerated federal power

D. is invalid because although on its face it's an intrastate law, this statute will have a significant economic effect on interstate commerce causing an undue burden

4) The power of preemption is derived from

A. the power of judicial review

B. the Commerce Clause

C. the Necessary and Proper Clause

D. the Supremacy Clause

5) What is the main problem with international courts?

A. Finding judges who understand the complexities of international law

B. Creating a body of law that reflects multiple legal systems

C. Enforcing a ruling on sovereign nations is difficult

D. Lack of recognition from the U.N. and WTO

6) Under the U.S. legal system, subject to some exceptions, costs of litigation regarding both the plaintiff and defendant

A. are all paid by the loser

B. are all paid by the winner

C. are paid for by each side with the plaintiff and defendant paying for their own legal costs

D. are totaled by the court and then for fairness, split in half with each side paying an equal amount

7) Generally, torts law is governed by

A. state statutory law

B. state common law

C. federal statutory law

D. constitutional law

8) Assumption of risk is a defense to

A. conversion

B. negligence

C. defamation

D. battery

9) The three stripes on Adidas clothing represents a

A. trademark

B. trade dress

C. trade secret

D. patent

10) The color or shape of an item, if distinctive, is a

A. trademark

B. trade dress

C. copyright

D. patent

11) Cybersquatting describes the practice of

A. registering multiple domain names and then selling them back to companies at inflated prices

B. hacking into a company's website to install a virus or Trojan horse designed to steal information but allow the site to continue operation

C. using mechanical devises to access a company's website multiple times to the point that traffic to the site is slowed or blocked

D. hacking into a company's website to install a virus designed to cause the company's website to totally cease operation

12) The Digital Millennium Copyright Act (1998) provided each of the following protections EXCEPT

A. manufacturers of CD-Writers were required to pay 2% of their sales into a fund to be distributed to copyright holders because the CD-Writers could easily copy music and other copyrighted works

B. civil and criminal penalties were established for those who sell or manufacture products or services that circumvent antipiracy software

C. restrictions were placed on analog recorders and camcorders that lack antipiracy features

D. ISPs were relieved of liability for copyright infringement by their users as long as the ISP had no knowledge of the infringement

13) When Maria comes home from work, she finds that her yard has been mowed and trimmed. An hour later, a man comes to her door to collect payment for the yard work. Maria refuses to pay him because she has never seen him before nor had she hired him to do the work. Which of the following is accurate?

A. This is an implied, unilateral contract, so she must pay.

B. Maria has received unjust enrichment so a quasi contract is formed, so she must pay.

C. The court would make Maria pay the reasonable cost of the work to be fair to both parties.

D. Maria would not have to pay anything.

14) Where a promise can only be accepted by the performance of the person to whom it is offered is an example of a/an

A. bilateral contract

B. unilateral contract

C. implied contract

D. quasi contract

15) Each of the following is a discharge by mutual consent EXCEPT

A. accord and satisfaction

B. novation

C. rescission

D. frustration of purpose

16) Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires about the price and is told that it is $2,500. Harry signs a contract promising to pay the $2,500 on Friday, taking possession of the rifle when payment is made. On Thursday, a law is enacted making the ownership, sale, or possession of an automatic rifle illegal. This contract

A. automatically terminates due to impossibility

B. automatically terminates due to impracticability

C. automatically terminates due to frustration of purpose

D. is enforceable and not affected by the new law because it was entered into before the law took effect

17) Which of the following is rarely awarded in contracts cases?

A. Consequential damages

B. Compensatory damages

C. Punitive damages

D. Liquidated damages

18) Which of the following is classified as an equitable remedy?

A. Consequential damages

B. Reformation

C. Restitution

D. Liquidated damages

19) Which of the following would not be considered tangible?

A. A car

B. Oxygen

C. The right of ownership

D. The pen or pencil you are using

20) With regard to consideration in a sales contract, the UCC differs from the common law in that

A. consideration in a sales contract may be modified without additional consideration

B. consideration exchanged must be equal or very closely equal in sales contracts

C. consideration is not required in sales contracts

D. consideration in a sales contract may be modified as long as additional consideration is provided

21) The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria EXCEPT

A. past commercial conduct

B. industry standards or norms

C. judicial input of any terms necessary to maintain fairness

D. correspondence or verbal exchanges between the parties

22) Two merchant companies have entered into a contract for the sale of goods but have had no prior dealings, which would establish a course of conduct between them. The UCC will allow gap fillers to apply to their contract regarding missing terms in each of the following situations EXCEPT

A. they have failed to specify when payment for the goods is to be made

B. they have failed to specify where delivery of the goods is to be made

C. they have failed to specify the quality or grade of the goods to be delivered

D. they have failed to specify the price of the goods to be delivered

23) When a buyer rejects nonconforming goods and purchases the appropriate goods from a different seller, this is an example of which of the following:

A. Cover

B. Specific Performance

C. Lawsuit for Money Damages

D. Revoking Acceptance

24) Which of these is not a requirement for disclaiming a warranty?

A. Statutory authorization

B. A conspicuous writing

C. Explaining why the warranty is being disclaimed

D. Including the word merchantability if merchantability is to be disclaimed

25) "What if everyone took these same actions" is a question sometimes called the

A. universalization approach

B. utilitarian approach

C. functionality approach

D. morality approach

26) The utilitarian approach to moral philosophy was founded by

A. Jeremy Bentham

B. Immanuel Kant

C. Cicero

D. Kenneth Lay

27) Stan is an investment manager. He has received money from various investors with a promise of very high returns on their investments. The invested money is not supplying enough capital in order to pay the returns promised, so he has started using new investor's money to pay older investors. By advertising and by word of mouth, people are anxious to invest with Stan because of the money being paid, and with the influx of new investors, he is able to continue operating. Stan is

A. operating an insider trading operation

B. racketeering

C. guilty of conspiracy to defraud

D. operating a Ponzi scheme

28) Ben is the manager of a branch of a large bank. He has regularly taken money from customer's accounts for his own use and changed the bank records to cover his actions. Ben is guilty of

A. a conspiracy

B. a Ponzi scheme

C. racketeering

D. embezzlement

29) The Sarbanes-Oxley Act (2002) imposed stricter regulations on how corporations do business through regulations in each of the following areas EXCEPT

A. tax compliance

B. financial reporting

C. corporate governance

D. auditing

30) Joan is the CFO of Para Corp. and is a year from retirement. In order to guarantee herself a very substantial bonus and to boost her retirement package, she knowingly certifies false financial reports making the company appear to be much more profitable than it really is. She further takes steps to assure that the financial report was not reviewed through internal controls maintained by Para Corp. Under the provisions of the Sarbanes-Oxley Act (2002), if her fraud is NOT part of a larger scheme, what criminal penalties are possible for Joan?

A. $1 million in fines and up to 10 years in prison

B. $2 million in fines and up to 12 years in prison

C. $5 million in fines and up to 15 years in prison

D. $10 million in fines and up to 20 years in prison


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MKT 571 Final Exam

MKT 571 Final Exam

1) Which of the following is most closely associated with a proactive marketing orientation?

A. It involves delivering superior value.

B. It is about understanding and meeting customers' expressed needs.

C. It represents the "make and sell" philosophy.

D. The marketer focuses on the customers' latent or hidden needs.

2) Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.

A. internally

B. management

C. segmentation

D. integration

3) Business buyers ______________.

A. are geographically as diverse as consumers

B. tend to be geographically concentrated with over half of them in seven states

C. are largely concentrated in the southwestern United States

D. use geographical dispersion to keep shipping costs low

4) Toyota, the maker of the Scion brand, is using what kind of brand strategy with Scion products?

A. Separate family names

B. Blanket family names

C. Individual names

D. Corporate names

5) BMW, the maker of the Mini Cooper brand, is using what kind of brand strategy with its Mini products?

A. Individual names

B. Blanket family names

C. Separate family names

D. Corporate names

6) Brands can play a number of specific roles within a company's brand portfolio. For example, a __________ is positioned with respect to competitors' brands so that more important and profitable brands retain their desired positioning.

A. cash cow

B. low-end, entry level brand

C. high-end, prestige brand

D. flanker

7) When Apple introduced its popular iPod Nano model, it dropped its Mini iPod at the same time. The Mini was, at the time, the most popular MP3 player in the marketplace. This is an example of __________.

A. brand extension

B. preemptive cannibalization

C. a brand shake-out

D. product maturity

8) A ___________ is when a parent brand is used on a new product targeting a new market segment within a category currently served by the parent.

A. joint-venture co-brand

B. same company co-brand

C. category extension

D. line extension

9) ___________ are formal statements of expected product performance by the manufacturer.

A. Open pricing statements

B. Promotional statements

C. Warranties

D. General guarantees

10) Mazda's Miata convertible originally drew the most interest from women between the ages of 35 and 55. In order to interest more potential customers in the roadster, Mazda beefed up the model with heavier shocks and a faster engine, and then emphasized performance in its advertising. This is an example of creating a new product by ____________.

A. repositioning

B. the development of a new product line

C. market diversification strategy

D. product development strategy

11) When SAP software added a Windows-style "back" button to its industrial invoice management software, the new product ___________.

A. used a new product line

B. added to an existing product line

C. improved upon an existing product

D. used a marketing diversification strategy

12) In 2003, Toyota introduced its Scion brand with the aim of bringing younger buyers into the "family." This was a classic example of _________________.

A. line featuring

B. line cannibalization

C. line padding

D. line stretching

13) Painting and consulting are considered industrial goods because ______________.

A. they are specialty goods

B. they are considered "component materials"

C. most firms do not seek them directly

D. they facilitate developing and managing the finished product

14) Marketers plan their market offerings at five levels. What is the correct order of the levels, going from most fundamental to the level with the most benefits?

A. Basic-expected-augmented-core-potential

B. Expected-potential-basic-augmented-core

C. Core-basic-expected-augmented-potential

D. Potential-augmented-expected-core-basic

15) Characteristics a buyer can evaluate before purchase are called _______________.

A. search qualities

B. experience qualities

C. credence qualities

D. differentiation qualities

16) For $15 a day, Chlena will go to your home and feed, water, and play with your pet while you are on vacation. The service Chlena provides is an example of a _____________.

A. tangible good with accompanying service

B. hybrid

C. pure service

D. major service with accompanying minor goods and services

17) Mr. Tse and his family took a vacation to Washington, D.C. While there, they bought souvenirs; t-shirts and hats to take home to family and friends who didn't have the opportunity to go. The experience of the Tse family is an example of which offering?

A. A tangible good with accompanying services

B. A hybrid

C. A pure service

D. A major service with accompanying minor goods and services

18) Best Buy will often try to sell the buyer of a high-end television monitor an extended warranty. This is an example of _______________.

A. pure tangible good

B. tangible good with accompanying services

C. hybrid

D. pure service

19) The introduction of a new product to the market using market-penetration pricing is most likely to be successful when _____________.

A. the unit costs of producing a small volume of the product are high

B. there must be no existing demand for the product

C. the market is highly price sensitive

D. the high price communicates nothing to potential buyers

20) A __________ pricing objective is suitable for a company that has overcapacity, intense competition, and changing customer needs.

A. maximum current profit

B. survival

C. maximum current revenue

D. maximum sales growth

21) Scotty is in the process of opening Suburban Legends SK8S to sell boards, wheels, trucks, clothing, videos, and skateboarding related collectibles. The first thing Scotty should do when setting the store's prices is to ____________.

A. estimate costs

B. determine the target market

C. select a pricing method

D. select a pricing objective

22) A common mistake in pricing is ____________________.

A. revising prices too often

B. considering price and price competition as a key problem in marketing

C. ignoring costs when setting prices

D. setting prices independently of the rest of the market mix

23) When customers buy on the basis of a reference price or because the price conveys a particular quality image to them, they are being influenced by ____________.

A. value pricing

B. the psychology of pricing

C. the going rates of competitors

D. value augmented by perception

24) Which of the following areas will a marketing manager standardize or adapt when taking a new product global?

A. Marketing concept

B. Marketing mix

C. Product strategy

D. Promotion strategy

25) Which of the following best describes integrated marketing communication (IMC)?

A. Organizations present a consistent message.

B. Organizations present an effective communication plan.

C. Organizations present a plan that focuses on the customer.

D. Organizations present an effective advertising message.

26) Which of the following best describes the role of social responsibility in marketing?

A. Standards that guide marketing decisions and actions

B. Improving environment and products

C. Obligation to improve positive effects on society

D. Obligation to improve positive effects and reduce negative effects on society

27) Public policy makers have developed a substantial body of laws and regulations to govern advertising. For these reasons, an important step in developing an advertising campaign is _____________.

A. asking network censors what to cut out of the communication

B. the creative development of the message

C. the social responsibility review

D. preparing a copy strategy statement

28) Within the last couple years several cosmetics manufacturers have introduced non-clumping mascara. Revlon was one of these manufacturers. Revlon should use ________ advertising to increase selective demand for its non-clumping mascara.

A. descriptive

B. persuasive

C. reminder

D. informative

29) Hospitals are engaged in intense competition to fill maternity beds. What type of advertising would hospitals most likely use to advertise their new amenities like hot tubs in every room, filet mignon or lobster on the menu, and afternoon teas for the new mothers and their families?

A. descriptive

B. persuasive

C. reminder

D. informative

30) _____________ is the key ingredient in marketing campaigns and consists of a diverse collection of short-term incentive tools designed to influence trial, purchase, and interests of consumers and wholesalers.

A. Advertising

B. Public relations

C. Sales promotion

D. Personal selling


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Thunder Inc uses the aging method and estimates it will not collect 7 % of accounts receivable not yet due,13% of receivables less than 30 days past due, and 43 % of receivables greater than 30 days past due

Thunder Inc uses the aging method and estimates it will not collect 7 % of accounts receivable not yet due,13% of receivables less than 30 days past due, and 43 % of receivables greater than 30 days past due.The accounts recivable balance of $8,100 consists of $5,000 not yet due, $900 less than 30 days past due and $2,200 greater than 30 days past due. What is the appropriate amount of Bad Debt expense?


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The contribution margin ratio is 20% for Grain Company and the break-even point in sales is $251,000

The contribution margin ratio is 20% for Grain Company and the break-even point in sales is $251,000. To obtain a target net operating income of $62,000, sales would have to be: (Do not round intermediate calculations.)

$313,000 $289,400 $326,000 $561,000


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Brisky Corporation uses activity-based costing to compute product margins

Brisky Corporation uses activity-based costing to compute product margins. In the first stage, the activity-based costing system allocates two overhead accounts-equipment depreciation and supervisory expense-to three activity cost pools-Machining, Order Filling, and Other-based on resource consumption. Data to perform these allocations appear below: Overhead costs: Equipment depreciation $117,000 Supervisory expense $6,200 Distribution of Resource Consumption Across Activity Cost Pools: Activity Cost Pools Machining Order Filling Other Equipment depreciation 0.50 0.30 0.20 Supervisory expense 0.50 0.20 0.30 In the second stage, Machining costs are assigned to products using machine-hours (MHs) and Order Filling costs are assigned to products using the number of orders. The costs in the Other activity cost pool are not assigned to products. Activity: MHs (Machining) Orders (Order Filling) Product I3 6,940 155 Product U8 15,800 986 Total 22,740 1,141 Finally, sales and direct cost data are combined with Machining and Order Filling costs to determine product margins. Sales and Direct Cost Data: Product I3 Product U8 Sales (total) $88,800 $64,100 Direct materials (total) $34,200 $17,800 Direct labor (total) $25,400 $27,900 What is the overhead cost assigned to Product I3 under activity-based costing? (Round your intermediate calculations to 2 decimal places.) $18,807.00 $61,600.00 $23,744.00 $4,937.00


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The following calendar year-end information is taken from the December 31, 2011, adjusted trial balance and other records of Plaza Company

The following calendar year-end information is taken from the December 31, 2011, adjusted trial balance and other records of Plaza Company.





Advertising expense $ 30,750 Direct labor $ 677,480

Depreciation expense—Office equipment 9,250 Income taxes expense 235,725

Depreciation expense—Selling equipment 10,600 Indirect labor 58,875

Depreciation expense—Factory equipment 35,550 Miscellaneous production costs 10,425

Factory supervision 104,600 Office salaries expense 65,000

Factory supplies used 9,350 Raw materials purchases 927,000

Factory utilities 35,000 Rent expense—Office space 24,000

Inventories Rent expense—Selling space 28,100

Raw materials, December 31, 2010 168,850 Rent expense—Factory building 78,800

Raw materials, December 31, 2011 184,000 Maintenance expense—Factory equipment 37,400

Goods in process, December 31, 2010 17,700 Sales 4,527,000

Goods in process, December 31, 2011 21,380 Sales discounts 64,500

Finished goods, December 31, 2010 169,350 Sales salaries expense 394,560

Finished goods, December 31, 2011 138,490

Requirement 1:

Prepare the company’s 2011 manufacturing statement.

Requirement 2: Prepare the company’s 2011 income statement that reports separate categories for (a) selling expenses and (b) general and administrative expenses.


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The materials price variance is computed by multiplying the difference between the actual price and the standard price by the actual quantity of materials used in production

The materials price variance is computed by multiplying the difference between the actual price and the standard price by the actual quantity of materials used in production. (Points : 3) True False 2. In general, the purchasing agent is responsible for the materials price variance. (Points : 3) True False 3. A materials price variance is favorable if the actual price exceeds the standard price. (Points : 3) True False 4. Generally speaking, it is the responsibility of the production department to see that material usage is kept in line with standards. (Points : 3) True False 5. When more hours of labor time are necessary to complete a job than the standard allows, the labor rate variance is unfavorable. (Points : 3) True False 6. Standard costs should generally be based on the actual costs of prior periods. (Points : 3) True False 7. The standard quantity per unit for direct materials should not include an allowance for waste. (Points : 3) True False 8. Ideal standards should be used for forecasting and planning. (Points : 3) True False 9. The standard cost per unit is computer by multiplying that standard quantity or hours by the standard price or rate. (Points : 3) True False 10. Standard costs greatly increase the complexity of the bookkeeping process. (Points : 3) True False 11. When computing standard cost variances, the difference between actual and standard price multiplied by actual quantity yields a(n): (Points : 3) combined price and quantity variance. efficiency variance. price variance. quantity variance.12. The general model for calculating a price variance is: (Points : 3) actual quantity of inputs x (actual price - standard price) standard price x (actual quantity of inputs - standard quantity allowed for output) (actual quantity of inputs at actual price) - (standard quantity allowed for output at standard price) actual price x (actual quantity of inputs - standard quantity allowed for output)13. The purchasing agent of the Clampett Company ordered materials for lower quality in an effort to economize on price and in response to the demands of the production manager due to a mistake in production scheduling. The materials were shipped by airfreight at a rate higher than that ordinarily charged for shipment by truck, resulting in an unfavorable materials price variance. The lower quality material proved to be unsuitable on the production line and resulted in excessive waste. In this situation, who should be held responsible for the materials price and quantity variances?Materials Price Variance Materials Quantity VarianceA) Purchasing Agent Purchasing AgentB) Production Manager Production ManagerC) Production Manager Purchasing AgentD) Purchasing Agent Production Manager (Points : 3) Option A Option B Option C Option D14. Todco planned to produce 3,000 units of its single product, Teragram, during November. The standard specifications for one unit of Teragram include six pounds of material at $0.30 per pound. Actual production in November was 3,100 units of Teragram. The accountant computed a favorable materials purchase price variance of $380 and an unfavorable materials quantity variance of $120. Based on these variances, one could conclude that: (Points : 1) more materials were purchased then were used. more materials were used than were purchased. the actual cost of materials was less than the standard cost. the actual usage of materials was less than the standard allowed.15. The materials quantity variance should be computed: (Points : 3) when materials are purchased. based upon the amount of materials used in production. based upon the difference between the actual and standard prices per unit times the actual quantity used. only when there is a difference between standard and actual cost per unit for the materials.16. Which department should usually be held responsible for an unfavorable materials price variance? (Points : 3) Production Materials Handling Engineering Purchasing17. If the labor efficiency variance is unfavorable, then (Points : 3) actual hours exceeded standard hours allowed for the actual output. standard hours allowed for the actual output exceeded actual hours. the standard rate exceeded the actual rate. the actual rate exceeded the standard rate.18. A labor efficiency variance resulting from the use of poor quality materials should be charged to: (Points : 3) the production manager. the purchasing agent. manufacturing overhead. the industrial engineering department.19. Variable manufacturing overhead is applied to products on the basis of standard direct labor-hours. If the direct labor efficiency variance is unfavorable, the variable overhead efficiency variance will be: (Points : 3) favorable. unfavorable. either favorable or unfavorable. zero.20. The following labor standard have been established for a particular product: Standard labor-hours per unit of output 4.0 hours Standard labor rate $12.30 per hourThe following data pertain to operations concerning the product for the last month: Actual hours worked 7,100 hours Actual total labor cost $89,105 Actual output 1,500 unitsWhat is the labor efficiency variance for the month? (Points : 3) $13,805 U $13,530 U $15,305 U $15,305 F21. The following standards for variable manufacturing overhead have been established for company that makes only one product: Standard hours per unit of output 2.1 hours Standard variable overhead rate $13.05 per hourThe following data pertain to operations for the last month: Actual hours 2,400 hours Actual total variable manufacturing overhead cost $30,360 Actual output 600 unitsWhat is the variable overhead efficiency variance for the month? (Points : 3) $9,219 U $10,179 U $9,867 U $647 U22. The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output 5.0 hours Standard variance overhead rate $13.45 per hourThe following data pertain to operations for the last month: Actual hours 3,300 hours Actual total variable manufacturing overhead cost $45,375 Actual output 800 unitsWhat is the variable overhead rate variance for the month? (Points : 3) $1,200 F $9,625 F $8,425 F $990 U23. Lafountaine Manufacturing Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard machine-hours (MHs). The company's cost formula for variable manufacturing overhead is $4.70 per MH. During the month, the actual total variable manufacturing overhead was $20,210 and the actual level of activity for the period was 4,700 MHs. What was the variable overhead rate variance for the month? (Points : 3) $400 unfavorable $1,880 favorable $1,880 unfavorable $400 favorable24. Tavorn Corporation applies manufacturing over head to products on the basis of standard machine-hours. The company's standard variable manufacturing overhead rate is $1.80 per machine-hour. The actual variable manufacturing overhead cost for the month was $13,080. The original budget for the month was based on 7,100 machine-hours. The company actually worked 7,210 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 7,070 machine-hours. What was the variable overhead efficiency variance for the month? (Points : 3) $354 unfavorable $252 unfavorable $54 favorable $102 unfavorable25. Acri Corporation procduces large commercial doors for warehouses and other facilities. In the most recent month, the company budgeted production of 6,900 doors. Actual production was 7,300 doors. According to standards, each door requires 5.6 machine-hours. The actual machine-hours for the month were 40,360 machine-hours. The standard supplies cost, and element of variable manufacturing overhead, is $4.20 per machine-hour. The actual supplies cost for the month was $168,251. The variable overhead efficiency variance for supplies cost is: (Points : 3) $3,445 U $2,184 F $2,184 U $3,445 F


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