Cynthia

1. Which one of the following is an input that is needed in order to budget for a service company?

A. Determining expected units to be sold

B. Determining cash needed for production

C. Determine estimated billings of clients

D. Determining expected billing time for each staff member

2. Venetian Company management wants to maintain a minimum monthly cash balance of $19,230. At the beginning of April, the cash balance is $21,880, expected cash receipts for March are $242,070, and cash disbursements are expected to be $256,490. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance?

3. The following information is taken from the production budget for the first quarter:

Beginning inventory in units 1,200

Sales budgeted for the quarter 456,000

Capacity in units of production facility 472,000

How many finished goods units should be produced during the quarter if the company desires 3,200 units available to start the next quarter?

4. At January 1, 2011, Estrada, Inc. has beginning inventory of 2,000 surfboards. Estrada estimates it will sell 5,000 units during the first quarter of 2011 with a 12% increase in sales each quarter. Estrada’s policy is to maintain an ending inventory equal to 25% of the next quarter’s sales. Each surfboard costs $100 and is sold for $150. How much is budgeted sales revenue for the third quarter of 2011?

These are the questions I definitely don't know how to do:

1. Which one of the following is an input that is needed in order to budget for a service company?

A. Determining expected units to be sold

B. Determining cash needed for production

C. Determine estimated billings of clients

D. Determining expected billing time for each staff member

2. Venetian Company management wants to maintain a minimum monthly cash balance of $19,230. At the beginning of April, the cash balance is $21,880, expected cash receipts for March are $242,070, and cash disbursements are expected to be $256,490. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance?

3. The following information is taken from the production budget for the first quarter:

Beginning inventory in units 1,200

Sales budgeted for the quarter 456,000

Capacity in units of production facility 472,000

How many finished goods units should be produced during the quarter if the company desires 3,200 units available to start the next quarter?

4. At January 1, 2011, Estrada, Inc. has beginning inventory of 2,000 surfboards. Estrada estimates it will sell 5,000 units during the first quarter of 2011 with a 12% increase in sales each quarter. Estrada’s policy is to maintain an ending inventory equal to 25% of the next quarter’s sales. Each surfboard costs $100 and is sold for $150. How much is budgeted sales revenue for the third quarter of 2011?

Question 1.

Smith Company produces desk lamps. The information for June indicated that the selling price was $25 per unit, variable costs were $15 per unit, fixed costs totaled $6,000, and the margin of safety in dollars was $12,500. Smith currently sells 1,100 lamps and earns $5,000 of profit. How much is Smith’s margin of safety ratio?

*I have absolutely no idea how to do this question. I know the equation is Margin safety in dollars/actual (expected) sales=Margin Safety Ratio. But I don't know where to go from there.

Question 2.

Airport Connection provides shuttle service between four hotels near a medical center and an international airport. Airport Connection uses two 10 passenger vans to offer 12 round trips per day. A recent month's activity in the form of a cost-volume-profit income statement is shown below.

Fare revenues (1,440 fares).......$36,000

Variable costs

Fuel.....................$5,040

Tolls and Parking....3,100

Maintenance.........500............8,6…

Contribution margin...................27,360

Fixed Costs

Salaries...............13,000

Depreciation...........1,300

Insurance...............1,128.........…

Net income.......................$11,932

(a)Calculate the break-even point in (1) dollars and (2) number of fares.

(b)Without calculations, determine the contribution margin at the break-even point.

*For (a) Break-even point in dollars: I got 13,300 which is not correct at all and the break-even point in fares: I got 3,702.72 which is not correct either. I don't know what I am doing wrong.

*For (b) I got $27,360 and I thought I would just take that from the information given, but it is also wrong.

Question 1.

Consider the product market for "Winter Wheat". If the Government has established a price floor and intends to purchase all surplus wheat draw the probable demand and supply curves and identify the equilibrium price and quantity demanded.

(a) Determine the cost to the government to buy all the surplus wheat during a "bumper" crop year.

(b) An alternative program will pay farmers to restrict acreage production. Explain how this alternative could result in the same price floor by shifting the appropriate curve.

(c) President Bush has proposed massive loan guarantee's to a certain war-ravaged Balkan country for the purchase of staples such as agricultural goods. Should either the subsidy or the restriction program be continued?

Question 2.

Consider the factor market for blue-collar employees. Draw the probable demand and supply curves if workers learn quickly and the labor force is large with a high standard of living.

a. Analyze the impact of a unknown flu virus that ravages the population and leaves many bedridden.

b. Survivors of the epidemic suddenly become unusually productive. Determine the effect of such a side effect on wages and employment in the area. Do they cancel each other and return the market to the original equilibrium?

Question 1.

Montego Co. identifies the following activities that pertain to manufacturing overhead: materials handling, machine setups, factory machine maintenance, factory supervision, and quality control. For each activity, identify an appropriate cost driver.

A. Material hadling

B. Machine setup

C. Factory machine maintenance

D. Factory supervision

E. Quality control

*This is what I think the answers are:

A. Machine hours used

B. Number of setups

C. machine hours used

D. Direct hours used

E. ?

Question 2.

Quick Pix is a large film developing and processing center that serves 130 outlets in grocery stores, service stations, camera and photo shops, and drug stores in 16 nearby towns. Quick Pix operates 24 hours a day, 6 days a week. Classify each of the following activity costs of Quick Pix as either unit-level, batch-level, product-level, or facility-level. (The answer may include more than one level.)

A. Color printing materials

B. Photocopy paper

C. Depreciation of machinery

D. Setups for enlargements

E. Supervisor's salary

F. Ordering materials

G. Pickup and delivery

H. Commission to dealers

I. Insurance on building

J. Loading developing machines

*This is what I think the answers are for Question 2.

A. Batch or Product-Level Activity

B. Batch or Product-Level Activity

C. Facility-Level Activity

D. Batch-Level Activity

E. Facility-Level Activity

F. Batch of Facility-Level Activity

G. Unit-Level Activity

H. ?

I. Facility-Level Activity

J. ?

Question 3.

Tool Time, Inc. operates 20 injection molding machines in the production of tool boxes of four different sizes, named the Apprentice, the Handyman, the Journeyman, and the Professional. Classify each of the following costs as unit-level, batch-level, product-level, or facility-level.

A. Depreciation on injection molding machines (I know its not facility or batch)

B. Changing dies on machines (I know its not unit or product)

C. Moving components to assembly department (I know its not unit or product)

Question 4.

Activity-based costing is most appropriate to use when labor costs are a ___________ proportion of total product costs and the manufacturing process is __________.

A. decreasing, complex.

B. increasing, complex.

C. small, uncomplicated.

D. large, uncomplicated.

*I really thought it was B but I got it wrong, then I thought it was d, but I still got it wrong. Now i'm confused.

Question 5.

Which of the following statements is false concerning the use of ABC in service industries?

A. In most service industries, a large portion of overhead costs are company-wide costs.

B. The notion regarding eliminating as many non-value-added activities as possible applies equally to manufacturers and service providers.

C. When using ABC for service industries, special methods must be used to identify cost pools and cost drivers due to the unique nature of the services offered.

D. All of the statements are true concerning the use of ABC in service industries.

Question 6.

Which of the following is a limitation of activity-based costing?

A. It does not lead to better management decisions.

B. It can only be used to improve product costing.

C.Only manufacturing companies can use it.

D. Arbitrary allocations of overhead costs may continue.

The antidepressant fluoexetine (or Prozac) has a half life of about 3 days. What percentage of a dose remains in the body after one day? After one week?

From October 2002 to October 2006 the number N(t) of wikipedia articles was approximated by N(t)=Noe^t/500, where t is the number of days after October 1, 2002. Find the doubling time for the number of wikipedia article during this period.

Question 1:

Table: Soybean Production, in millions of tons

Year:2000

Production:161.0

Year:2001

Production:170.3

Year:2002

Production:180.2

Year:2003

Production:190.7

Year:2004

Production:201.8

Year:2005

Production:213.5

Using the table:

(a) Could the data on annual world soybean production correspond to a linear function? If so, which? Solve.

(b) find a formula for P, world soybean production in millions of tons, as a function of time, t, in years since 2000.

(c) What is the annual percentage increase in soybean production?

Question 2:

A city's population is 1000 and growing at 5% a year.

(a) find a formula for the population at time,t, years from now assuming that the 5% per year is an: i) annual rate. ii) continuous annual rate.

Question 3:

(a) what is the continuous percent growth rate for P=100e^0.06t, with time, t, in years?

(b) write this function in the form P=Poa^t. What is the annual percentage growth rate?

I swear i'm not lazy or anything. These are the hardest questions that I got out of all 80 questions and I honestly don't even know where to start with these. If anyone could please help me out I would greatly appreciate it. If you could also explain it a bit for me that would also be great. You can answer one or all of them, just please help me out. These question are driving me insane. Thank you all!

A photocopying company has two different price lists. The first price list is $100 plus 3 cents per copy, the second price list is $200 plus 2 cents per copy.

(a) For each price list, find the total cost as a function of the number of copies needed.

(b) Determine which price list is cheaper for 5000 copies.

(c) For what number of copies do both price lists charge the same amount?

*For (a) I got:

1st price list: f(x)=3x+100

2nd price list f(x)=2x+200

*For (b) I got:

1st=15,100 [3(5000)+100]

2nd=10,200 [2(5000)+200]

*For (c) This confused me, and now I feel like I am doing it wrong....

Also:

The demand curve for a product is given by q=120,000-500p and the supply curve is given by q=1000p for 0<q<120,000, where price is in dollars.

(a) At a price of $100, what quantity are consumers willing to buy and what quantity are producers willing to supply? Will the market push prices up or down?

*For this I got: consumers: q=120,000-500(100) q=70,000. Producers: q=1000(100) q=100,000. And the market will push prices down because there is more supply than there is demand.

(b) Find the equilibrium price and quantity. Does your answer to part (a) support the observation that market forces tend to push prices closer to the equilibrium price?

*I have to say that i'm stumped....I tried to do it, but I came out with one and I don't think that is correct.

Last question:

A tax of $80 per unit is imposed on the supplier of an item. The original supply curve is q=0.5p-25 and the demand curve is q=165-0.5p, where p is price in dollars. Find the equilibrium price and quantity before and after the tax is imposed.

*On this question, would I simply insert 80 into the equation?

If someone can correct me or help me out, in one or in all of them I would greatly appreciate it. Thank you.

A photocopying company has two different price lists. The first price list is $100 plus 3 cents per copy, the second price list is $200 plus 2 cents per copy.

(a) For each price list, find the total cost as a function of the number of copies needed.

(b) Determine which price list is cheaper for 5000 copies.

(c) For what number of copies do both price lists charge the same amount?

*For (a) I got:

1st price list: f(x)=3x+100

2nd price list f(x)=2x+200

*For (b) I got:

1st=15,100 [3(5000)+100]

2nd=10,200 [2(5000)+200]

*For (c) This confused me, and now I feel like I am doing it wrong....

Also:

The demand curve for a product is given by q=120,000-500p and the supply curve is given by q=1000p for 0<q<120,000, where price is in dollars.

(a) At a price of $100, what quantity are consumers willing to buy and what quantity are producers willing to supply? Will the market push prices up or down?

*For this I got: consumers: q=120,000-500(100) q=70,000. Producers: q=1000(100) q=100,000. And the market will push prices down because there is more supply than there is demand.

(b) Find the equilibrium price and quantity. Does your answer to part (a) support the observation that market forces tend to push prices closer to the equilibrium price?

*I have to say that i'm stumped....I tried to do it, but I came out with one and I don't think that is correct.

Last question:

A tax of $80 per unit is imposed on the supplier of an item. The original supply curve is q=0.5p-25 and the demand curve is q=165-0.5p, where p is price in dollars. Find the equilibrium price and quantity before and after the tax is imposed.

*On this question, would I simply insert 80 into the equation?

If someone can correct me or help me out, in one or in all of them I would greatly appreciate it. Thank you.

The gross earnings of the factory workers for Cepeda Company during the month of January are $60,000. The employer's payroll taxes for the factory payroll are $8,000. The fringe benefits to be paid by the employer on this payroll are $4,000. Of the total accumulated cost of factory labor, 85% is related to direct labor and 15% is attributable to indirect labor.

Prepare the entry to record the factory labor costs for the month of January. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

Prepare the entry to assign factory labor to production. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)

On June 30 Gomez Corporation discontinued its operations in Mexico. On September 1 Gomez disposed of the Mexico facility at a pretax loss of $680,000. The applicable tax rate is 25%. Show the discontinued operations section of Gomez's income statement.

Discontinued Operations

Loss on disposal of Mexico facility, net of $ 170,000 tax $_____?_______

On June 30 Gomez Corporation discontinued its operations in Mexico. On September 1 Gomez disposed of the Mexico facility at a pretax loss of $680,000. The applicable tax rate is 25%. Show the discontinued operations section of Gomez's income statement.

Discontinued Operations

Loss on disposal of Mexico facility, net of $ 170,000 tax $_____?_______

I have finals coming up and I have been trying this semester to understand when and how to debit or credit. I still don't understand, I am so confused and I still don't know when to debit or when to credit. Can someone please explain to me please? Thank you so much!

I have finals coming up and I have been trying this semester to understand when and how to debit or credit. I still don't understand, I am so confused and I still don't know when to debit or when to credit. Can someone please explain to me please? Thank you so much!

Ok, so i've been reading on yahoo about "illegal aliens" and it is getting kinda old. First no one is illegal in this world. The more educated word would be undocumented, but if you are trully educated you would be FOR an immigration reform. As far as aliens go, I don't think they exist so why are we talking about aliens?? If anyone's confused, get yourselves educated. Here, read these articles.

http://articles.latimes.com/2010/jan/07/local/la-m...

http://www.cnn.com/2010/POLITICS/01/07/immigration...

http://blog.aflcio.org/2010/01/11/report-immigrati...

http://www.americanimmigrationcouncil.org/newsroom...

http://www.americanprogress.org/issues/2010/01/imm...

http://thehill.com/opinion/letters/85805-immigrati...

http://oaklandlocal.com/blogs/2010/04/wanna-add-15...

http://www.alternet.org/immigration/141401/why_now...

http://www.ocimmigrationattorney.com/blog/?p=671

Stop the ignorance and look at the facts! America is not based on ignorance....it is based on opportunity, just look at how America came to be.

I'm writing a research paper on women and how they are different now from past generations. A lot more women are becoming more independent and do not see the point for a man, does anybody know of any good books on this subject or anything that I can use a reference, something that will help me write my paper? Please tell me on anything you have read or heard on this topic please!

I'm writing a research paper on women and how they are different now from past generations. A lot more women are becoming more independent and do not see the point for a man, does anybody know of any good books on this subject or anything that I can use a reference, something that will help me write my paper? Please tell me on anything you have read or heard on this topic please!

I'm writing a research paper on women and how they are different now from past generations. A lot more women are becoming more independent and do not see the point for a man, does anybody know of any good books on this subject or anything that I can use a reference, something that will help me write my paper? Please tell me on anything you have read or heard on this topic please!

I was wondering, how many of you talk openly about sex to your parents? Do you guys look down upon women who are free with their sexuality? What about your families? Do you guys look down upon independent women? What about your families? I am a person that does not want to get married or do the family thing yet and I have to add that I believe in sex before marriage, whatever one decides is fine with me (which my family frowns upon, but I don't care). If I decide to have kids (when i'm 25+), I have asked my friend to donate his sperm to me b/c I really don't want a husband. I currently do not have a boyfriend b/c I don't want a b/f, I am in school, I don't want a b/f, I work, I don't want a b/f and I am part of two great organizations, one of which requires me to travel a lot, so you could say that I am very busy. I know what I want and I know where I'm going and I know how to get there, but b/c I have chosen my career over a family, my family is going crazy on me. The other day, my uncle even asked me if I was lesbian! In my culture, I should be looking for a husband right now, but like I said, that is not in my plans at this moment. I am 19 years old, in college, and in the words of my family, I am "rebel." People think its weird that I do not want a boyfriend and have no intention on getting one, but I just say that I want to have a career and be successful, that's all I want. Being successful has a different definition for everyone, so why am I being judged?

I would like to know what others think about this, I'm doing my thing regardless of what others say so please just be honest and let me know what your feelings are towards women and their independence. I need to know all this for my research paper so please be honest. Men and women's opinions are welcome! Thank you!

If anyone is confused about this, I am well attracted to men, trust me, and no i'm not attracted to women, I just personally don't want a commitment or a family yet. I am not talking about abortion, duh, if I sound like a feminist then I guess if you like labels I guess that's what I am, I like to think that i'm just a woman that knows what she wants.