zilongwang/ReadingBank huggingface dataset:
Number Description Learning Objectives Bloom Levelsa CMA Adapted Difficulty Level Estimated Time (min.) E2-4 Identify cost behaviors 1 AP, C Moderate 15-20 E2-5 Explain use of fixed costs in calculating unit cost 1 AN Difficult 5-7 E2-6 Understand effect of changes in volume on costs 1 AP, AN Difficult 8 E2-7 Use a scattergraph to estimate a cost function 2 AP, AN Moderate 15-20 E2-8 Use the high-low method to estimate a cots function 2 AP, AN Moderate 20 E2-9 Estimate cost functions 2 AP Difficult 20 E2-10 Estimate cost function and total costs 2 AP Difficult 10-15 E2-11 Prepare a contribution format income statement 3 AP Moderate 10-15 E2-12 Find missing numbers in contribution format income statement 3 AN Easy 10-15 E2-13 Prepare a contribution format income statement 3 AP Difficult 10-15 E2-14 Prepare a contribution format income statement 3 AP Easy 20-25 P2-15 Identify cost behavior using unit cost information 1 AP Easy 20-25 P2-16 Estimate mixed costs using scattergraph and high-low method, estimate total cost 2 AP, AN Moderate 20-25 P2-17 Estimate costs using the method, estimate total costs using a cost function 2 AP, AN Difficult 15-20 P2-18 Estimate mixed costs using the high-low method, identify cost outliers 2 AP, AN Moderate 20-25 P2-19 Estimate costs using the method 2 AP, AN Difficult 30-35 P2-20 Identify cost behavior, prepare a contribution format income statement 1, 3 AP Difficult 20-25 P2-21 Prepare a contribution format income statement, estimate total costs using a cost formula 2, 3 AP Difficult 20 P2-22 Prepare a contribution format income statement, evaluate changes in cost behavior 3 AP Difficult 20-25 C2-23 Identify cost behaviors, estimate total costs 1 AP Difficult 20-25 C2-24 Evaluate ethical issues E, AN Moderate 10-15 aK = knowledge, C = comprehension, AP = application, AN = analysis, S = synthesis, E = evaluation and
2. A variable cost is a cost that varies in total in proportion to a business activity. Within the relevant range, variable cost per unit is constant. As the level of activity increases, the total cost increases by the same proportion. Examples include commissions, cost of bicycle tires for a bicycle manufacturer, and cost of postage for a direct mail advertiser. 3. A fixed cost is a cost that does not change in total with the activity level. Within the relevant range, the total fixed cost remains constant as the activity level changes. However, the cost per unit varies inversely with changes in activity level. Examples include monthly rent, a manager’s salary, and property taxes. 4. Discretionary fixed costs are fixed costs that can be changed over the short run. Committed fixed costs cannot be changed over the short run. 5. A cost is a cost that has both fixed and variable components. As the level of activity increases, the total cost increases and the cost per unit decreases. Examples include electricity cost, party hall rental when the charge includes a flat fee plus a cost per guest, and t-shirt printing when the charge includes a set up fee plus a charge for each t-shirt printed. 6. A step cost is a cost that is fixed over a small range of activity. Total cost will not change as activity levels increase if the level of activity is within a certain range. However, once the activity level exceeds this range, total cost will increase. Examples include maintenance costs when a new maintenance worker is needed per 10 machines, nurse salaries per 5 patients on a hospital floor, and hotel room rates per 4 students on a class trip. Unit 2.2 1. TC = (VC x) + FC 2. With a scattergraph, a line is drawn to best fit the data points. The point at which the line intersects the y-axis is the value for fixed costs. The slope of the line, change in total cost divided by change in activity, is the variable cost per unit.
Chapter 3 Empirical Methods for Demand Analysis SOLUTIONS TO END-OF-CHAPTER QUESTIONS ELASTICITY 1.1 Elasticity of demand for prenatal smoking is inelastic:  %Q/%P 2.65/21 0.1262. 1.2 An arc price elasticity is an elasticity that uses the average price and average quantity as the denominator for percentage calculations. For example, let be the average quantity and be the average price. The arc price elasticity is ε = ε= . The change in price is $0.30, and the change in quantity is –2,994. Average price is $1.14, and average quantity is 21,189. Thus, the arc elasticity of demand is ε = = –0.537. 1.3 The elasticity of demand is the percentage change in quantity divided by the percentage change in price: ε = ε= . From the demand equation, is –2, so ε= . ε = –0.250. 1.4 The elasticity of demand is the percentage change in quantity divided by the percentage change in price: ε = ε= . From the demand equation, = , so ε = ε= . Since Q= , substituting this for Q in the equation for elasticity above, ε = –0.504. 1.5 The elasticity of demand is the percentage change in quantity divided by the percentage change in price: ε = ε= . From the demand equation, is –4p = –4(10) = –40, so
Q = 12.140 – 5.8546p. Using Excel, the equation for the demand function with 2.7 as the quantity in the second row is Q = 12.493 – 6.1545p. 3.3 From the demand equation, is –1.438, so the effect of an increase in on the quantity of Camry’s demanded is ΔQ = –1.438(Δp) ΔQ = –1.438(1) ΔQ = –1.438 thousand. From the demand equation, if the price is $20 thousand, then demand is Q = 53.857–1.438p Q = 53.857–1.438(20) Q = 25.097 thousand The elasticity of demand is the percentage change in quantity divided by the percentage change in ε = ε= . From the demand equation, is –1.438, so ε= . ε = –1.146. 3.4 According to Excel, the price coefficient’s standard error is 0.0549, and the corresponding t-statistic is –12.477. Statistically,an explanatory variable’s coefficient is significantly different than zero at the 0.05 level if its t-statistic is larger than 1.96 in absolute value. In this example, the t-statistic is 12.477, so the price coefficient is statistically significant. REGRESSION SPECIFICATION 4.1 An explanatory variable’s coefficient is statistically significantly different than zero at the 0.05 level if its t-statistic is larger than 1.96 in absolute value. In this example, the t-statistic is 4.25, so the price coefficient is statistically significant. A year of experience raises CEO compensation by 36.10 thousand dollars, which seems economically significant. 4.2 To find the log-linear demand equation, take the log of both sides and simplify: . You can estimate this in Excel using an OLS regression of the form by converting your quantity and price data to logs. In the resulting regression, α will be an estimate of ln(A), and β will be an estimate of ε.
Solving for B from this equation yields Furthermore, the value of A is determined from one of the previous equations, as follows: Thus, Equations 2.9 and 2.11 become Of course these expressions are valid for r and E in units of nanometers and electron volts, respectively. 2.21 The net potential energy EN between two adjacent ions is sometimes represented by the expression (2.18) in which r is the interionic separation and C, D, and ρ are constants whose values depend on the specific material. (a) Derive an expression for the bonding energy E0 in terms of the equilibrium interionic separation r0 and the constants D and ρ using the following procedure: (i) Differentiate EN with respect to r, and set the resulting expression to zero. (ii) Solve for C in terms of D, ρ, and r0. (iii) Determine the expression for E0 by substitution for C in Equation 2.18. (b) Derive another expression for E0 in terms of r0, C, and ρ using a procedure analogous to the one outlined in part (a). Solution (a) Differentiating Equation 2.18 with respect to r yields
2.3 What is the equilibrium price for the demand and supply conditions described in Problems 1 and 2? How much corn is bought and sold? What if the price of diesel fuel increases to $4.50 per gallon? Show the equilibrium price before and after the change in a graph. Answer: The demand for corn (measured in billions of bushels) is given by: The supply of corn is given by: The equilibrium price for the demand and supply conditions described in Problems 1 and 2 is $4.00. 11 billion bushels of corn is bought and sold. If the price of diesel fuel increases to $4.50 per gallon, the price of corn will increase to $4.50. Explanation: At equilibrium Qs = Qd. 9 + 5Pcorn – 2Pfuel – 1.25Psoybeans = 5 – 2Pcorn + 4Ppotatoes – 0.25Pbutter + 0.0003M 9 + 5Pcorn – 5.5 – 12.50 = 5 – 2Pcorn + 3 – 1 + 12 –28 = –7Pcorn Pcorn = $4.00 By inserting the new price into either the quantity demanded or quantity supplied equation, we can see how much corn is bought and sold. When the price is set by the market, the quantity of corn bought and sold is 11 billion bushels. QScorn = 9 + 5($4.00) – 2($2.75) – 1.25($10) QScorn = 11 If fuel prices increase to $4.50 per gallon, the price of corn will rise to $4.50 and less will be produced. 9 + 5Pcorn – 9.00 – 12.50 = 5 – 2Pcorn + 3 – 1 + 12 –31.50 = –7Pcorn Pcorn =$4.50 QScorn = 9 + 5($4.50) – 2($4.50) – 1.25($10) QScorn = 10
The principles and practices of payroll accounting discussed in Chapter 2 are applied in the Practical Problems as shown below. Principle or Practice Practical Problem No. (A and B) 1. Paying less than the minimum wage (exception to the FLSA) 2–1 2. Computing the tip credit 2–2, 2–5 3. Computing gross earnings 2–3 4. Computing regular earnings, overtime earnings, and total gross earnings 2–4 through 2–21 5. Computing salary—exempt employee 2–6 6. Reading time to determine hours worked 2–9, 2–10 2–11 (continental system) 7. 4/40 workweek 2–11 8. Converting monthly and annual salary rates to hourly rates 2–14, 2–15 9. Using the decimal system for “docking” 2–10 10. Piece-rate systems 2–18, 2–19 11. Commissions 2–20, 2–21 Solutions—Series A Problems 2–1A. (a) 37 hours × $4.20 = $155.40 (b) Yes. Beck, a full-time student in a university, may be employed by a retail establishment for at 85% of the minimum wage, or $6.17 (85% × $7.25 = $6.1625, which the government rounds to $6.17). Since Beck is being paid a rate less than $6.17, the wage rate violates the FLSA. (c) 37 hours × $6.17 = $228.29 2–2A. (a) $2.13 × 40 = $85.20* minimum weekly wages. (b) $ 85.20 minimum weekly wages – 80.00 weekly wage regularly paid $ 5.20 additional weekly wage due
Pay Rate: $12.00/hour A-Long Charlie Long 242 Benedict Road S. Woodstock, VT 05002 802-429-3846 SSN: 056-23-4593 Hire Date: 2-7-14 DOB: 3-16-1987 Position: Production Worker PT/FT: FT, nonexempt No. of Exemptions: 2 M/S: M Pay Rate: $12.50/hour B-Shang Mary Shangraw 1901 Main Street #2 Bridgewater, VT 05520 802-575-5423 SSN: 075-28-8945 Hire Date: 2-5-14 DOB: 8-20-1994 Position: Administrative Assistant PT/FT: PT, nonexempt No. of Exemptions: 1 M/S: S Pay Rate: $10.50/hour B-Lewis Kristen 840 Daily Hollow Road Bridgewater, VT 05523 802-390-5572 SSN: 076-39-5673 Hire Date: 2-2-14 DOB: 4-6-1950 Position: Office Manager PT/FT: FT, exempt No. of Exemptions: 3 M/S: M Pay Rate: $32,000/year B-Schwa Joel Schwartz 55 Farm Way Woodstock, VT 802-463-9985 SSN: 021-34-9876 Hire Date: 2-1-14 DOB: 5-23-1985 Position: Sales PT/FT: FT, exempt No. of Exemptions: 2 M/S: M Pay Rate: $24,000/year base plus 3% commission per case sold B-Prevo Toni Prevosti 10520 Cox Hill Road Bridgewater, VT 05521 802-673-2636 SSN: 055-22-0443 Hire Date: 2-1-14 DOB: 9-18-1967 Position: Owner/President PT/FT: FT, exempt No. of Exemptions: 5 M/S: M Pay Rate: $45,000/year 2. Complete the headers of the employee earnings register for each employee. Enter the YTD earnings for each employee.
ADDRESS 1901 Main St #2 Date of Birth 8/20/1994 CITY/STATE/ZIP Bridgewater/VT/05520 Position Administrative Assistant TELEPHONE No. of exemptions 1 SOCIAL SECURITY NUMBER Pay Rate $10.50/hour Hrs. Reg Pay OT Pay Pay Social Sec. Tax Fed Inc. Tax State Inc. Tax Total Net pay YTD 0 0 0
EMPLOYEE INFORMATION FORM NAME Kristen Lewis Hire Date 2/2/2014 ADDRESS 840 Daily Hollow Rd Date of Birth 4/6/1950 Bridgewater/VT/05523 Position Office Manager TELEPHONE No. of exemptions 3 SOCIAL SECURITY NUMBER Pay Rate $32,000/year Hrs. Reg Pay OT Pay Pay Social Sec. Tax Fed Inc. Tax Inc. Tax Total Net pay YTD 0 0 0
EMPLOYEE INFORMATION FORM NAME Toni Prevosti Hire Date 2/1/2014 ADDRESS 10520 Cox Hill Rd Date of Birth 9/18/1967 CITY/STATE/ZIP Bridgewater/VT/05521 Position Owner/President TELEPHONE No. of exemptions 5 SOCIAL SECURITY NUMBER Pay Rate $45,000/year Hrs. Reg Pay OT Pay Pay Social Sec. Tax Fed Inc. Tax State Inc. Tax Total Net pay YTD 0 0 0
c. informal research conducted locally by a small staff with a small budget, the purpose of which is to pave the way for larger research initiatives. d. research intended to address issues that have immediate relevance to current practices, procedures, and policies. *3. Applied research is: a. research intended to enhance knowledge about the physical, biological, psychological, or social world or to shed light on historical, cultural, or aesthetic phenomena. b. research performed under contract with a governmental agency such as the National Science Foundation (NSF), National Institute of Mental Health (NIMH), etc. c. informal research conducted by a small staff with a small budget, the purpose of which is to shed light on a problem of local interest. d. research intended to address issues that have immediate relevance to current practices, procedures, and policies. **4. Which of the following represents a well-written basic research problem? a. “Which general education course is more interesting, U.S. History or World Music?” b. “How do business teams of six or fewer members compare to teams of more than six members in terms of productivity?” c. “How does the organization of mathematical information in long-term memory differ between 3-year-olds and 13-year-olds?” d. “What is the ratio of native-born students to international students on the campuses of major U.S. state universities?” **5. of the following represents a well-written applied research problem? a. “How does the organization of mathematical information in long-term memory differ between 3-year-olds and 13-year-olds?” b. “How do business teams of six or fewer members compare to teams of more than six members in terms of productivity?” c. “Which general education course is more interesting, U.S. History or World Music?” d. “What is the of native-born students to international students on the campuses of major U.S. state universities?” **6. Three of the following questions lend themselves well to formal research. Which one does NOT?
A clear mission statement acts as an “invisible hand” that guides people in the organization. A market-oriented mission statement defines the business in terms of satisfying basic customer needs. Management should making its mission too narrow or too broad. Missions should be realistic, specific, fit the market environment, based on the company’s distinctive competencies, and motivating. p. 41 Chipotle p. 42 Table 2.1: Business Definitions Assignments, Resources Use Critical Thinking Exercise 2 here Use Web Resource 3 here p. 42 PPT 2-6 p. 43 PPT 2-7 Setting Company Objectives and Goals The company’s mission needs to be turned into detailed supporting objectives for each level of management. The mission leads to a hierarchy of objectives, including business objectives and marketing objectives. Marketing strategies and programs must be developed to support these marketing objectives. Designing the Business Portfolio A business portfolio is the collection of businesses and products that make up the company. The best portfolio is the one that best fits the company’s strengths and weaknesses to opportunities in the environment. Analyzing the Current Business Portfolio The activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses making up the company. p. 43 Ad: Heinz Chapter Objective 2 p. 43 Key Term: Business Portfolio p. 43 Key Term: Portfolio Analysis Assignments, Resources Use Additional Project 1 here Use Think-Pair-Share 1 here PPT 2-8 p. 44
3 2000 0.0006 0.00030 10065 4 3000 0.001 0.00050 15097 5 4000 0.0013 0.00065 20130 6 7000 0.0023 0.00115 35227 7 8400 0.0028 0.00140 42272 8 8800 0.0036 0.00180 44285 9 9200 0.0089 0.00445 46298 10 8800 0.1984 44285 11 9200 0.1978 0.00461 46298 12 9100 0.1963 0.01229 45795 13 0.1924 0.03281 66428 14 0.1875 0.05980 76492 15 17000 0.1563 0.27136 85551 16 16400 0.1307 82531 17 14800 0.1077 0.84506 (a) Linear range (b) Offset yield (c) Complete (c) The material is ductile since there is a large amount of deformation beyond yield. (d) The closest material to the values of Sy, Sut, and R is SAE 1045 HR with Sy = 45 kpsi, Sut = 82 kpsi, and R = 40 %. Ans. ______________________________________________________________________________ 2-7 To plot true vs., the following equations are applied to the data. Eq. (2-4) where The results are summarized in the table below and plotted on the next page. The last 5 points of data are used to plot log vs log The fit gives m = 0.2306 log 0 = 5.1852 0 = 153.2 kpsi Ans. For 20% cold work, Eq. (2-14) and Eq. (2-17) give, A = A0 (1 – W) = 0.1987 (1 – 0.2) = 0.1590 in2
7. Why do you think delegating such an important part of the situational leadership model? Answer: When applying the situational leadership model, depending on the leadership style used, the delegation of authority is important to carry out the assignment. 8. List and briefly discuss the four fundamental guidelines to keep in mind when supervising a diverse workforce. Answer: (1) Ask: Are you adjusting to individual differences?-supervisory actions may trigger different reactions; (2) Develop your “multi-cultural” consciousness-take an active role in educating yourself; (3) Ask: Are you really treating everyone equally?-you may treat people who are not similar to you differently than you treat others; (4) Actively integrate immigrants into your team-work diligently to welcome immigrants to your team. CASE 1 Just Promoted - Born to Lead? 1. Joe does a poor job in exhibiting the core traits discussed in this chapter. Joe can’t lead when he is the job himself. He seems not to have the self-confidence needed to contribute to his success as a supervisor. He may know the business well, but most likely lacks the “cognitive ability” to make good decisions. 2. Joe is not monitoring his workers. If he were, they would not be standing around when he returned to the job. Putting work before personal problems of his workers, indicates that the interpersonal facet of his job is not being covered. 3. When you take a good working off the line and say to them “now you’re a supervisor,” that does not mean for sure that they are a good leader. Companies must be very careful when they promote within, to orientate line workers to what a job in management involves. 4. Strong points: Has participated in executing decisions Knows the workers personally Knows the company and the jobs to be done Can schedule work Weak points: Little knowledge of company policies Problems with making decisions Must lead- not run machines Does not care about worker personal problems Can not motivate workers effectively 5. Joe profit from: A better orientation to his new job A current job description including his duties Study of company policies dealing with discrimination Attending a university course in supervision
a. $38,038, under the half year convention, calculated as follows: Asset Placed in Service (1) Original Basis (2) Rate (1) x (2) Depreciation Computer equipment (5 year) February 3 $10,000 20.00% $2,000 Furniture (7 year) April 22 $150,000 14.29% $21,435 Used delivery truck (5 year) August 17 $23,000 20.00% $4,600 Machinery (7 year) October 25 $70,000 14.29% $10,003 $253,000 $38,038 Evergreen isn’t required to use the mid-quarter convention because only 27.67% of its tangible personal property was placed in service during the 4th quarter (70,000/253,000). Additionally, the delivery truck is not considered to be a luxury auto b. $39,794, the mid-quarter convention, as computed below. Evergreen is required to use the mid-quarter convention because greater than 40 percent of tangible personal property was placed in service during the 4th quarter. Evergreen placed 48.2% [$170,000 / ($10,000 + $23,000 + $150,000 + $170,000)] of its tangible personal property in service during the 4th quarter. Asset Placed in Service Quarter (1) Original (2) Rate (1) x (2) Depreciation Computer equipment (5 year) February 3 1st $10,000 35.00% $3,500 Furniture (7 year) 22 2nd $150,000 17.85% $26,775 Used delivery truck (5 year) August 17 3rd $23,000 15.00% $3,450 Machinery (7 year) October 25 4th $170,000 3.57% $6,069 Total $353,000 $39,794 [LO 2] Convers Corporation (June 30 year-end) acquired the following assets during the current tax year (ignore §179 expense and bonus depreciation for this problem): Asset Placed in Service Date Original Basis Machinery October 25 $70,000 Computer Equipment February 3 $10,000 Used Delivery Truck* 17 $23,000 Furniture 22 $150,000 Total $253,000 *The delivery truck is not a luxury automobile. What is the allowable MACRS depreciation on Convers’ property in the current year?
(3) Phase-out threshold 50,000 §195 (4) Immediate expense phase-out $0 (2) – (3); not less than $0 (5) Allowable immediate expense $5,000 (1) – (4) (6) Remaining costs $12,000 (2) – (5) (7) Recovery period in months 180 15 years §195 (8) Monthly straight-line amortization 66.67 (6) / (7) (9) ISys’ business months during year 1 x 3 October through December Year 1 straight-line amortization for costs $200 (8) x (9) Y2 Cost Recovery Asset Original Basis Expense Remaining Basis Quarter Rate Cost Recovery Expense Computer Equipment $15,000 $15,000 4th 38.00% $5,700 Office Equipment $10,000 $10,000 4th 27.55% $2,755 Furniture $3,000 $3,000 4th 27.55% $827 Start-up costs $17,000 $5,000 $12,000 N/A $66.67 x 12 $800 Delivery van $18,000 HY 20.00% $3,600 Pinball machine $4,000 HY 14.29% $572 Customer List $10,000 N/A See $500 Total Cost Recovery Expense $14,754 Description Amount Explanation (1) Customer list (section 197 intangible) $10,000 (2) Recovery period in months 180 Section 197 (3) Monthly straight-line amortization 55.56 (1) / (2) (4) April through December x 9 Year 1 straight-line amortization for customer list $500 (3) x (4) ISys Answers’ form 4562 is as follows:
Handout: 2.2 Research Samples and Settings LO 2.3: Explain research samples and settings. Lecture/Discussion Suggestions: Populations and Samples Naturalistic Observation PowerPoints Critical Thinking Question: #2 Handout: 2.3 Analyzing and Interpreting Data LO 2.4: Distinguish between descriptive statistics and inferential statistics. Psychological Inquiry: Experimentation in a Natural Setting Lecture/Discussion Suggestions: Measures of Central Tendency Significantly Significant! PowerPoints Handout: 2.4 Conducting Psychological Research LO 2.5: Describe some research challenges that involve ethics. Critical Controversy: Is It Ethical to Use Deception in Research? Lecture/Discussion Suggestions: Ethics Ethics on the Web PowerPoints Critical Thinking Question: #2 Polling Questions: 2.1, 2.2 Handout: 2.5 Thinking Critically About Psychological Research LO 2.6: Explain the need to think critically Apply Your Knowledge: #4 Lecture/Discussion Suggestion: Media and Research PowerPoints Critical Thinking Question: #2
Participants taking part in a sleep study to determine whether the number of hours of sleep a person gets determines how well they will do on an exam were randomly assigned to either the group that was woken up at various times throughout the night or the group that was allowed to sleep throughout the night. Independent Variable: Dependent Variable: Experimental Group: Control Participants took part in a study to determine the number of consumed beers it would take to affect their ability to walk in a straight line. Independent Variable: Dependent Variable: Experimental Group: Control Pharmaceutical Company X conducted an experiment to determine if the new migraine headache pill would alleviate migraine headaches. Independent Variable: Dependent Variable: Experimental Control Group: College X conducted an experiment to determine if freshmen who had schedules made for them did better in their freshman year than freshmen who made their own schedules. Independent Variable: Dependent Variable: Experimental Control Activity Handout: 2.3 Population and Samples Read the statements below. In the space provided, identify who the population is and who the sample could be. (None of the examples are factual.) It is hypothesized that there is a higher rate of teenage pregnancy in single-parent households than in two-parent households.
Table of Answers: U.S. Foreign- Nobel Total born Awards As of December 2009: Awards* U.S. Awards* . N % . Chemistry 156 60 13 22 Economics 64 45 11 24 Literature 102 12 4 33 Peace 117 22 2 1 Physics 186 87 23 26 Physiology and Medicine 195 94 28 30 Total 320 81 25 *Note. figures will change in years after 2009 as more laureates are named. c) Select two of the following countries and using the Web sites above, determine how many and what percentage of their Nobel laureates were foreign-born. France Russia Switzerland Germany Sweden United Kingdom Table of Answers: Nobel Foreign-born Awards* As of December 2009: Awards* N % . France 57 8 14 Germany 103 11 11 Russia 23 1 4 Sweden 28 3 11 Switzerland 25 6 24 United Kingdom 116 24 21 *Note. These figures will change in years after 2009 as more laureates are named. Foreign-born residents (documented and undocumented) comprise approximately 14.5 % of the U.S. population. What Sowell say about the percentage of foreign-born U.S. Nobel laureates in relation to U.S. native-born laureates? What might Sowell say about the percentage of foreign-born U.S. laureates compared to the percentage of foreign-born
Net capital spending = NFAend – NFAbeg + Depreciation = $59,700 – 55,977 + 1,910 = $5,633 Cash flow from assets = OCF – Change in NWC – Net capital spending = $6,371.56 – 2,819 – 5,633 = –$2,080.44 Cash flow to creditors = Interest – Net new LTD Net new LTD = LTDend – LTDbeg Cash flow to creditors = $1,019 – ($27,099 – 22,352) = –$3,728 Net new equity = Common stockend – Common stockbeg Common stock + Retained earnings = Total owners’ equity Net new equity = (OE – RE) end – (OE – RE) beg = OEend – OEbeg + REbeg – REend REend = REbeg + Additions to RE15 Net new equity = OEend – OEbeg + REbeg – (REbeg + Additions to RE15) = OEend – OEbeg – Additions to RE Net new equity = $60,532 – 58,737 – 1,662.56 = $132.44 CFS = Dividends – Net new equity CFS = $1,780 – 132.44 = $1,647.56 As a check, cash flow from assets is –$2,080.44. CFA = Cash flow from creditors + Cash flow to stockholders CFA = –$3,278 + 1,647.56 = –$2,080.44
+12,000 –1,000 = +800 = +800 +3,000 –1,000 = +2,000 E2-5 Req. 1 Assets = Liabilities + Shareholders’ Equity +216 –211 = +5 +21 = Contributed Capital +21 TOTALS 26 = 5 + 21 Req. 2 The separate entity assumption states that transactions of the business are separate from transactions of the owners. Because transaction (c) occurs between the owners and others in the stock market, there is no effect on the business. Req. 3 The greater increase in shareholders’ equity (versus liabilities) indicates that these transactions led NIKE to rely proportionately more on shareholders (versus creditors). E2-6 a. dr Cash (+A) 10,000 crContributed Capital (+SE) 10,000 b. dr Cash (+A) 7,000 cr Notes Payable (+L) 7,000 c. dr Land (+A) 12,000 cr Cash (A) 1,000 cr Notes Payable (+L) 11,000 0
Cash -2 b. Cash +2 Contributed Capital +2 c. Property, Plant and Equipment Cash +11 -2 Long-term Debt +9 d. Cash Other Assets +1 -1 e. No effect. Req. 2 a. dr Other Assets(+A) 2 cr Cash (-A) 2 b. dr Cash (+A) 2 crContributed Capital (+SE) 2 c. dr Property, and Equipment (+A) 11 cr Cash (A) 2 cr Long-term Debt (+L) 9 d. dr Cash (+A) 1 cr Other Assets (-A) 1 e. No effect. PA2-5 (continued) Req. 3 Cash Accounts Receivable Inventories Beg. 80 Beg. 12 Beg. 188 (b) 2 2 (a) (d) 1 2 (c) End. 79 End. 12 End. 188 Other Current Assets Property, Plant, and Equipment Other Assets Beg. 26 Beg. 355 Beg. 99 (c) 11 (a) 2 1 (d) End. 26 End. 366 End. 100
Other Long-term Liabilities 44 Total Liabilities 393 Shareholders’ Equity Contributed Capital 358 Retained Earnings 20 Total Shareholders’ Equity 378 Total Liabilities and Shareholders’ Equity $771 Req. 6 As of December 31, 2014, the financing for Alezandray’s investment in assets has come primarily from liabilities. Liabilities financed $393,000,000 of the company’s assets and shareholders’ equity financed $378,000,000. ANSWERS TO GROUP B PROBLEMS PB2-1 Req. 1 Assets = Liabilities + Shareholders' Equity Cash Equipment Building Notes Payable Contributed Capital Retained Earnings (a) +109,000 = +109,000 (b) +186,000 = +186,000 (c) No effect = (d) –200,000 +200,000 = (e) –12,000 +44,000 = +32,000 (f) +4,000 –4,000 = +87,000 +40,000 +200,000 = +218,000 +109,000 Changes + $327,000 + $218,000 +$109,000 Req. 2 The transaction between the shareholder and another investor (event c) was not included in the spreadsheet. Because event (c) occurs between an owner and another investor, the separate entity assumption implies this transaction does not affect the business.
b. Combined balance sheet Governmental Funds Combined Balance Sheet General Fund Special Revenue Fund Capital Projects Fund Debt Service Fund Total Assets Cash $30 $ 1 $ 5 $ 4 $40 Totals $30 $ 1 $ 5 $ 4 $40 Liabilities and Fund Balances Accounts payable $ 7 $ 7 Fund balances 23 1 5 4 33 Totals $30 $ 1 $ 5 $ 4 $40
Revenues Liabilities 400 – Service Revenue 200 – Accounts Payable 210 – Unearned Revenue Expenses 500 – Utilities Expense 510 – Advertising Expense E2-12 Requirement 1 Requirement 2 Requirement 3 Account Name Type of Account Increase with Debit/Credit Normal Balance Debit/Credit a. Interest Revenue E CR CR b. Accounts Payable L CR CR c. Chapman, Capital E CR CR d. Office Supplies A DR DR e. Advertising Expense E DR DR f. Unearned Revenue L CR CR g. Prepaid Rent A DR DR h. Utilities Expense E DR DR i. Chapman, Withdrawals E DR DR j. Service Revenue E CR CR
May 23 J10 1,900 600 E2-19, cont. OFFICE SUPPLIES Account No. 130 Date Item Post Ref. Credit Balance Debit Credit May 2 J10 500 500 PREPAID ADVERTISING Account No. 140 Date Item Post Ref. Debit Credit Balance Debit Credit May 21 J10 500 500 BUILDING Account No. 150 Date Item Post Ref. Credit Balance Debit Credit May 4 J10 45,000 45,000 LAND Account No. 160 Date Item Post Ref. Debit Credit Balance Debit Credit May 4 J10 8,000 8,000 ACCOUNTS PAYABLE Account No. 210 Date Item Post Ref. Debit Credit Balance Debit Credit May 2 J10 500 500 May 9 J10 400 100 UNEARNED REVENUE Account No. 220 Date Item Post Ref. Debit Credit Balance Debit Credit May 20 J10 1,200 1,200 WARD, CAPITAL Account No. 310 Date Item Post Ref. Debit Credit Balance Debit Credit May 1 J10 75,000 75,000
Feb. 15 J5 8,500 8,500 P2-32A, cont. LAND Account No. 16 Date Item Post Ref. Debit Credit Balance Debit Credit Jan. 31 Balance 17,000 ACCOUNTS PAYABLE Account No. 21 Date Item Post Ref. Debit Credit Balance Debit Credit Jan. 31 Balance 4,700 Feb. 13 J5 2,400 2,300 Feb. 14 J5 3,000 5,300 Feb. 18 J5 900 6,200 UNEARNED REVENUE Account No. 22 Date Item Post Ref. Debit Credit Balance Debit Credit Feb. 24 J5 1,000 1,000 MITCHELL, CAPITAL Account No. 31 Date Item Post Ref. Debit Credit Balance Debit Credit Jan. 31 Balance 30,400 Feb. 15 J5 8,500 38,900 MITCHELL, WITHDRAWALS Account No. 32 Date Item Post Ref. Credit Balance Debit Credit Feb. 20 J5 2,200 2,200 SERVICE REVENUE Account No. 41 Date Item Post Ref. Debit Credit Balance Debit Credit Feb. 8 J5 4,600 4,600 Feb. 21 J5 2,300 6,900
E2-19, cont. OFFICE SUPPLIES Account No. 130 Date Item Post Ref. Debit Credit Balance Credit May 2 J10 500 500 PREPAID ADVERTISING Account No. 140 Date Item Post Ref. Debit Credit Balance Debit Credit May 21 J10 500 500 BUILDING Account No. 150 Date Item Post Ref. Debit Credit Balance Debit Credit May 4 J10 45,000 45,000 LAND Account No. 160 Date Item Post Ref. Debit Credit Balance Credit May 4 J10 8,000 8,000 ACCOUNTS PAYABLE Account No. 210 Date Item Post Ref. Debit Credit Balance Credit May 2 J10 500 500 May 9 J10 400 100 UNEARNED REVENUE Account No. 220 Date Item Post Ref. Debit Credit Balance Debit Credit May 20 J10 1,200 1,200 COMMON STOCK Account No. 310 Date Item Post Ref. Credit Balance Debit Credit May 1 J10 75,000 75,000
July 1 Cash 68,000 Common Stock 68,000 5 Rent Expense 560 Cash 560 9 Land 16,000 Cash 16,000 10 Office Supplies 1,600 Accounts Payable 1,600 19 Cash 23,000 Notes Payable 23,000 22 Accounts Payable 1,300 Cash 1,300 28 Advertising Expense 240 Advertising Payable 240 31 Cash 6,500 Accounts Receivable 5,800 Service Revenue 12,300 31 Salaries Expense 2,500 Rent Expense 1,000 Utilities Expense 400 Cash 3,900 31 Cash 1,140 Unearned Revenue 1,140 31 Dividends 7,000 Cash 7,000 P2-29A, cont. Requirement 2 Cash Accounts Payable Jul. 1 68,000 560 Jul. 5 Jul. 22 1,300 1,600 Jul. 10
FURNITURE Account No. 141 Date Item Post Ref. Credit Balance Credit Apr. 3 J1 2,000 2,000 BUILDING Account No. 151 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 7 J1 120,000 120,000 LAND Account No. 161 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 7 J1 30,000 30,000 ACCOUNTS PAYABLE Account No. 201 Date Item Post Ref. Debit Credit Balance Credit Apr. 3 J1 2,500 2,500 Apr. 16 J1 500 2,000 UTILITIES PAYABLE Account No. 211 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 25 J1 300 300 NOTES PAYABLE Account No. 221 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 7 J1 100,000 100,000 COMMON Account No. 301 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 1 J1 62,000 62,000
ACCOUNTS PAYABLE Account No. 21 Date Item Post Ref. Credit Balance Debit Credit Mar. 31 Balance 4,200 Apr. 13 J5 2,500 1,700 Apr. 14 J5 4,000 5,700 Apr. 18 J5 600 6,300 UNEARNED REVENUE Account No. 22 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 24 J5 3,000 3,000 COMMON Account No. 31 Date Item Post Ref. Debit Credit Balance Debit Credit Mar. 31 Balance 23,700 Apr. 15 J5 10,500 34,200 DIVIDENDS Account No. 33 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 20 J5 2,300 2,300 P2-39B, cont. SERVICE REVENUE Account No. 41 Date Item Post Ref. Debit Credit Balance Credit Apr. 8 J5 5,000 5,000 Apr. 21 J5 2,100 7,100 SALARIES EXPENSE Account No. 51 Date Item Post Ref. Debit Credit Balance Debit Credit Apr. 28 J5 1,300 1,300 RENT EXPENSE Account No. 52 Date Item Post Ref. Credit Balance Debit Credit Apr. 27 J5 300 300
12 2 Across 5. Lends money 6. Extra value recorded when buying another company 8. Reports assets, liabilities, and stockholders’ equity (2 9. Investments available for liquidation (2 words) 12. Patents, copyrights, and brand names 13. Accounts payable is a _____ account 16. Buildings, equipment, and land (abbreviation) 17. Cost allocation 20. Acquisition Cost less Accumulated Depreciation (2 words) 22. Owners of a corporation 23. Income tax amounts to be paid 24. in the bank 25. Ratio that measures the ability to pay current liabilities with current assets 26. Total liabilities divided by total assets (2 words) Down 1. Amounts owed to suppliers (2 2. Distribution of earnings 3. Merchandise held for sale 4. Borrows money 7. Ratios that measure the ability to pay liabilities as they come due 9. Lawsuits and other events that could create new liabilities for the company 10. Inventory is an _____ account 11. amount of depreciation expensed since the assets' date of purchase 14. Monies to be received from customers 15. Equipment is a _____ asset account, which is used for more than one year 18. Ratios that measure the ability to pay liabilities for many 19. Balance Sheet reporting all amounts as a percentage of total assets (2 words) 21. Liabilities due within 12 months
2 dimes 1 nickels 4 pennies This algorithm will determine how to make change for an amount of in US currency. In this case, it will start with all pennies, then attempt to substitute larger coins up through quarters. Depending on how comfortable students are with modulus and integer division, there are a couple different ways to approach making the algorithm better. The first answer is longer, but it doesn’t use modulus and integer division. Get a value for change (in cents) Set pennies to change Set nickels, dimes, quarters to 0 While (change >= 25) Set quarters to quarters + 1 Set change to change - 25 (change >= 10) Set to dimes + 1 Set change to change - 10 While (change >= 5) Set nickels to nickels + 1 Set change to change - 5 Set pennies to change Print “Your change is” the value of quarters and “quarters” Print the value of dimes and “dimes” the value of nickels and “nickels” Print the value of pennies and “pennies” If you are comfortable with modulus and integer division, you could do Get a value for change (in cents)
Set quarters to change / 25 Set change to change mod 25 Set dimes to change / 10 Set change to change mod 10 Set nickels to change / 5 Set pennies to change mod 5 Print “Your change is” the value of quarters and “quarters” the value of dimes and “dimes” Print the value of nickels and “nickels” Print the value of pennies and “pennies” Get a value for change (in cents) Get a value for quarters in machine Get a value for dimes in machine Get a value for nickels in machine Get a value for pennies in machine While (change >= 25 and quarters > 0) Set quarters to quarters - 1 Set change to change - 25 While (change >= 10 and dimes > 0) Set dimes to dimes - 1 Set change to change - 10 While (change >= 5 and nickels > 0) Set nickels to nickels - 1 Set change to change - 5 If (pennies >= change) Then Print “There is enough money to make change” Else Print “There is not enough money to make change”
Chapter 2 THE STARTING POINT: ANALYZING FACTS AND IDENTIFYING LEGAL ISSUES CHAPTER OUTLINE 2-1 Introduction 2-2 Know and Analyze the 2-3 How to Sort the Facts of a Client’s Case 2-4 How to Compare Case Law Facts with Your Client’s Facts 2-5 Legal Issues 2-6 How to Identify the Legal Issues Issues in Your Client’s Case 2-7 How Issue Statements Are Written QUESTIONS FOR REVIEW AND ANSWERS 1. Why is the client’s factual situation so important? No legal research is productive until the researcher acquires a good picture of the client’s facts. 2. State and describe the three basic fact categories. Relevant Facts are absolutely essential. Explanatory Facts clarify the relevant facts. Legally Unimportant Facts play no role in the legal situation; they should be placed aside during legal research. 3. Explain the process for factual comparison. Factual comparison takes place after the researcher clarifies the client facts and locates case law that may be applicable to the client’s legal situation. The effective legal researcher works to locate case law that is as factually similar to the client facts as possible. This process involves looking for factual similarities, unknowns, and differences. 4. What is a legal issue? Legal issues are the specific legal questions raised by the facts. 5. How do you identify the issues in a case in pleadings have been filed? If pleadings have been filed in a case, go to the pleadings and read about the causes of action involved to help establish the issues. Issues are found in causes of action or affirmative defenses in pleadings. 6. How do you identify the issues in a case in which no pleadings have been filed? Legal research helps to identify legal issues. When in doubt, always ask your supervisor for initial guidance. 7. How do you identify issues in a reported case? Issues usually follow the judicial history in a reported case. Courts usually provide a clear indication of the issue—for example “the question before this court is ….” trial
Gas pumps: they have TV’s to offer advertising, why not put a virtual wall of retail items? Lots of people, wide variety of people, and they have to look at it for 5 minutes or so. Hospital waiting rooms: purchase bravery prizes or get well-soon gifts. As scummy as it may sound to make a buck off this, a virtual toy wall in the family/friends waiting room of a children’s hospital is a home-run and a half. There was a picture of a small virtual retail wall online on a bus stop. For this location, it is important to recognize the target market, who is using public transportation
(To assign to jobs J57 & K52) 12/9 Work in Process Inventory 1,990 Manufacturing Overhead 1,990 (To assign overhead to jobs J57 & K52) 12/12 Factory Labor 65,000 Cash 65,000 (To record factory labor costs and payment) 12/13 Manufacturing Overhead 9,000 Cash 9,000 (To record payment of factory water bill) 12/14 Work in Process Inventory 3,459 Raw Materials Inventory 3,459 (To assign materials to jobs J57 & K52) GENERAL JOURNAL DEBIT CREDIT 12/15 Work In Process 99 Factory Labor 99 (To assign labor to jobs J57 & K52 12/15 Work in Process Inventory 1,990 Manufacturing Overhead 1,990 (To assign overhead to jobs J57 & K52) 12/15 Finished Goods Inventory 15,647 Work in Process Inventory 15,647 (To record completion of jobs J57 & K52) 12/18 Finished Goods Inventory 50,000 Work in Process Inventory 50,000 (To record completion of jobs) 12/21 Manufacturing Overhead 12,000 Cash 12,000 (To record payment of factory electric bill) 12/31 Manufacturing Overhead 36,800 Property Taxes Payable 12,000 Prepaid Insurance 8,800 Accumulated Depreciation 16,000 (To record overhead costs) (c) 12/31 Cost of Goods Sold 3,600
Solutions Manual to accompany Managerial Economics and Organizational Architecture, 6e Answers to “Analyzing Managerial Decisions” Discussion Questions By Jim Brickley, Cliff Smith, and Jerry Zimmerman Chapter 1: Introduction ORGANIZING Discussion Question Answer: The individuals who answer the 800 number have the incentives to answer many telephone calls but not to spend time on any given call. Thus, they have incentives to limit the discussion with
2.4 Suppose that the demand function for a product is Qd = 200/Pand the supply function is Qs = 2P.What is the equilibrium price and the amount bought and sold? Answer: The equilibrium price is $10. The equilibrium quantity that will be bought and sold is 20 units. Explanation: Solve Qd = QS. 200/P = 2P P2 = 100 P = 10. Therefore: Qd = 200/10 = 20. QS = 2(10) = 20. 2.5 The worldwide demand function for crude oil (in millions of gallons) is Qd = 17 - √P and the daily supply function is Qs √P - 1, where Pis the price per gallon. What is the equilibrium price of crude oil? What is the quantity bought and sold each day? Answer: The equilibrium price of crude oil is $81. The equilibrium quantity bought and sold each day is 8 million gallons. Explanation: Equate Qd and QS. . When P = 81, 2.6 Consider again the demand and supply functions in Worked-Out Problem 2.2 (page 31). Suppose the government needs to buy 3.5 billion bushels of corn for a third-world famine relief program. What effect will the purchase have on the
Total expenditure is maximized at the price where the absolute value of the elasticity is 1. Hence, look for P such that: = 1 BDP = A – BP BDP + BP = A BP(D + 1) = A P = 2.4 Let Pdenote the price of a product that is produced using a single input whose price is W.The demand function for the product is Qd = 10 -,and the supply function is Qs = if P > Wand Qs = 0 if P ≤ W.How does the equilibrium price depend on W?What is the elasticity of the equilibrium price Pwith respect to Wwhen W = 1? Answer: When P<W, quantity supplied is zero. Hence, no exchange takes place between buyers and sellers.When P>W, the equilibrium price is expressed as: The elasticity of the equilibrium P with respect to W when W = 1 is 0.5. Explanation: Let P>W.
Boron is an acceptor: NA = 1016/cm3 and p = 318 cm2/V-s from equations with Fig. 2.8. Now we add donors until  = 4.5 (-cm) -1: Using trial and error: ND ND+ NA n ND- NA nn 8 x 1016 9 x 1016 752 7 x 1016 5.26 x 1019 5 x 1016 6 x 1016 845 4 x 1016 3.38 x 1019 4 x 1016 5 x 1016 885 3 x 1016 2.66 x 1019 4.2 x 1016 5.2 x 1016 877 3.2 x 1016 2.81 x 1019 2.42 Phosphorus is a ND = 1016/cm3 and n = 1180 cm2/V-s from Fig. 2.8. Now we add acceptors until  = 5.0 (-cm) -1: trial and error: NA ND+ NA p NA- ND pp 1.00E+17 1.10E+17 147 9.00E+16 1.33E+19 2.00E+17 2.10E+17 116 1.90E+17 2.20E+19 3.50E+17 3.60E+17 95.6 3.40E+17 3.25E+19 3.30E+17 3.40E+17 97.4 3.20E+17 3.12E+19 2.43 T (K) 50 75 100 150 200 250 300 350 400 VT (mV) 4.31 6.46 8.61 12.9 17.2 21.5 25.8 30.1 34.5 2.44 2.45 2.46 2.47
StudyJams https://goo.gl/Hrfwms URL is case-sensitive Click Play on the video. Answer questions from cards #2-4 on your lab sheet. How are molecules related to the states of matter? Make a T-chart with the 3 states of matter and list how the molecules move in each state. Compare and contrast evaporation and condensation.
Solids Liquids & Gases Illustrate It! Name Assess It! #1 #3 #2 #4 Read It! #1 #3 #2 #4 Research It! Task Card #1: 1. Task Card #2: 1. 2. Organize It! ©KeslerScience.com
For a quantity of 25,000 pumps, Marine should outsource to Bayfront the production of the filter systems. See the calculations below for confirmation. Total Cost In-house = $370,000 + ($11.27)(25,000) = $651,750 Total Cost Outsource to Bayfront = ($25)(25,000) = $625,000 Using the Break-Even spreadsheet template: 7.* A firm is evaluating the alternative of manufacturing a part that is currently being outsourced from a supplier. The relevant information is provided below: For in-house manufacturing: Annual fixed cost = $100,000 Variable cost per part = $140 For purchasing from supplier: Purchase price per part = $160 Using this information, determine the break-even quantity for which the firm would be indifferent between manufacturing the part in-house or outsourcing it. Using Equation 2.1 we compute Q* = ______FC_______ = $100,000 = 5,000 parts VC2 - VC1 $160 - $140 If demand is greater than 5,000, then produce in-house (manufacture) If demand is less than or equal to 5,000, then outsource We may also use the Break-Even spreadsheet template to identify the break-even point, either by experimentation or using Excel’s Goal Seek tool (instructors might wish to illustrate this). 8.* Refer to the information provided in question 7 to answer the following: a. If demand is forecast to be 5,500 should the firm make the part or purchase it from a supplier? b. The marketing department forecasts that the upcoming year’s demand will be 5,500 parts. A new supplier offers to make the parts for $156 each. Should the company accept the offer? c. What is the maximum price per part the manufacturer should be willing to pay to the supplier if the forecast is 5,500 parts, using the information in the original problem (Question #7). If demand is greater than 5,000, then produce in-house (manufacture). In this case, the part should be made in-house.
For Exercises 1 – 14, perform the indicated operations. a. 96 + 24 b. 96 24 c. 96 24 d. a. 550 + 25 b. 550 25 c. 550 25 d. a. 612 334 b. 946 334 4. a. 612 334 b. 278 334 a. 5500 4299 b. 1201 4299 a. 22,718 12,137 b. 34,855 12,137 a. a.
Vendors’ vested interest in a particular domain (if sufficient it provides a scope for introducing component features relevant to that domain) Contract practice (guarantees given, and obligations vendor is prepared to take on) 3. SDLC vs. COTS SDLC COTS Common/Difference Systems Investigation Requirements Analysis Common. In both methods requirements should be identified & documented. Systems Requirements Software Requirements Preliminary Design Survey of COTS products and preliminary evaluation Common. Both methods use drawings to determine the software design. Analysis Evaluation of COTS Different. Design Modification to requirements Different. Coding Procurement of COTS and customization Different. Testing of the code Testing of customized system Common. Launch Implementation Common. The launch process in both methods includes integration and maintenance. Integration Maintenance 4. Agile vs. COTS Agile COTS Common/Difference Display models in public Candidate vendors are presented to the Board Different. Model to understand and communicate Evaluation of COTS Different. Agree & follow a common set of modeling Authorization of MEPP and VMP Common. Any team member can modify any Decisions should be made by the team Different. Seek stakeholders for active participation MEPP and VMP Common. 5. The benefits of MEPP and VMP: Helping understand the problem as well as the proposed solutions Motivating the project team by having the Board involved in the project Discovering flaws and errors before implementing the project Receiving the Board’s recommendations that could improve the solution