Question & Answer

A slab milling operation is performed on the top surface of a steel rectangular workpiece 12.0 in long by 2.5 in wide. The helical milling cutter, which has a 3.0 in diameter and ten teeth, is set up to overhang the width of the part on both sides. Cutting speed is 125 ft/min, feed is 0.006 in/tooth, and depth of cut = 0.300 in. Determine (a) the actual machining time to make one pass across the surface and (b) the maximum metal removal rate during the cut. (c) If an additional approach distance of 0.5 in is provided at the beginning of the pass (before cutting begins), and an overtravel distance is provided at the end of the pass equal to the cutter radius plus 0.5 in, what is the duration of the feed motion

The Samsons are trying to determine whether they can claim their 22-year-old adopted son, Jason, as a dependent. Jason is currently a full-time student at an out-of-state university. Jason lived in his parents’ home for three months of the year, and he was away at school for the rest of the year. He received $9,500 in scholarships this year for his outstanding academic performance and earned $4,800 of income working a part-time job during the year. The Samsons paid a total of $5,000 to support Jason while he was away at college. Jason used the scholarship, the earnings from the part-time job, and the money from the Samsons as his only sources of support. Can the Samsons claim Jason as their dependent?

1.    : If managerial work is characterized by variety, fragmentation, and brevity, how do managers perform basic management functions such as planning and strategic management, which would seem to require reflection and analysis?

What are factors to be considered in estimating the useful alife of an intangible asset?

What are the three types of static stresses to which materials are subjected?

Why is a shareholder’s basis in an S corporation stock adjusted annually?

What two factors increase the difference between present and future values?

There are 13 correct answers in the following multiple choice questions (some questions have multiple answers that are correct). To attain a perfect score on the quiz, all correct answers must be given. Each correct answer is worth 1 point. Each omitted answer or wrong answer reduces the score by 1 point, and each additional answer beyond the correct number of answers reduces the score by 1 point. Percentage score on the quiz is based on the total number of correct answers. 18.1 Which of the following are bulk deformation processes (three correct answers): (a) bending, (b) deep drawing, (c) extrusion, (d) forging, (e) rolling, and (f) shearing? 18.2 Which of the following is typical of the starting work geometry in sheet metal processes: (a) high volume-to-area ratio or (b) low volume-to-area ratio? 18.3 The flow curve expresses the behavior of a metal in which of the following regions of the stress-strain curve: (a) elastic region or (b) plastic region? 18.4 The average flow stress is the flow stress multiplied by which of the following factors: (a) n, (b) (1+n), (c) 1/n, or (d) 1/(1+n), where n is the strain-hardening exponent? 18.5 Hot working of metals refers to which one of the following temperature regions relative to the melting point of the given metal on an absolute temperature scale: (a) room temperature, (b) 0.2Tm, (c) 0.4Tm, or (d) 0.6Tm? 18.6 Which of the following are advantages and characteristics of hot working relative to cold working (four correct answers): (a) fracture of workpart is less likely, (b) friction is reduced, (c) increased strength properties, (d) isotropic mechanical properties, (e) less overall energy is required, (f) lower deformation forces is required, (g) more significant shape changes are possible, and (h) strain-rate sensitivity is reduced? 18.7 Increasing strain rate tends to have which one of the following effects on flow stress during hot forming of metal: (a) decreases flow stress, (b) has no effect, or (c) increases flow stress? 18.8 The coefficient of friction between the part and the tool in cold working tends to be (a) higher, (b) lower, or (c) no different relative to its value in hot working?

: Describe the value of the four components of emotional intelligence for managers.

On April 15, 2015, fire damaged the office and warehouse of Stanislaw Corporation. The only accounting record saved was the general ledger, from which the trial balance below was prepared.   The following data and information have been gathered. 1. The fiscal year of the corporation ends on December 31. 2. An examination of the April bank statement and canceled checks revealed that checks written during the period April 1–15 totaled $13,000: $5,700 paid to accounts payable as of March 31, $3,400 for April merchandise shipments, and $3,900 paid for other expenses. Deposits during the same period amounted to $12,950, which consisted of receipts on account from customers with the exception of a $950 refund from a vendor for merchandise returned in April. 3. Correspondence with suppliers revealed unrecorded obligations at April 15 of $15,600 for April merchandise shipments, including $2,300 for shipments in transit (f.o.b. shipping point) on that date. 4. Customers acknowledged indebtedness of $46,000 at April 15, 2015. It was also estimated that customers owed another $8,000 that will never be acknowledged or recovered. Of the acknowledged indebtedness, $600 will probably be uncollectible. 5. The companies insuring the inventory agreed that the corporation’s fire-loss claim should be based on the assumption that the overall gross profit rate for the past 2 years was in effect during the current year. The corporation’s audited financial statements disclosed this information: Year Ended December 31 2014 2013 Net sales $530,000 $390,000 Net purchases 280,000 235,000 Beginning inventory 50,000 66,000 Ending inventory 75,000 50,000 Inventory with a cost of $7,000 was salvaged and sold for $3,500. The balance of the inventory wasm a total loss. Instructions Prepare a schedule computing the amount of inventory fire loss. The supporting schedule of the computation of the gross profit should be in good form.

If you were the owner of a clothes shop, how would you set about deciding what prices to charge for each garment at the end-of-season sale?

1.       : Managers at Gap Inc., a once- popular retail chain, are reported to have made a series of decisions that hurt the company: They expanded so rapidly that the chain lost touch with customers; they tried to copy the successful approach of rivals rather than charting their own course; they cut quality to reduce costs; they shifted from one fashion approach to another as each failed to appeal to customers, and so on. What techniques would you recommend that Gap managers use to improve the quality of their decisions?

1.              : Go ahead and close the deal, but come clean later. Explain that the controller had been on an extended leave of absence and because you had been on the job for only a few days, you had not had time to analyze the numbers yourself.

What is a blind hole?

Under what circumstances will the gain or loss on the sale of a partnership interest be characterized as ordinary rather than capital?

On July 1, 2014, Moresan Company sold special-order merchandise on credit and received in return an interest-bearing note receivable from the customer. Moresan will receive interest at the prevailing rate for a note of this type. Both the principal and interest are due in one lump sum on June 30, 2015. On September 1, 2014, Moresan sold special-order merchandise on credit and received in return a zero-interest-bearing note receivable from the customer. The prevailing rate of interest for a note of this type is determinable. The note receivable is due in one lump sum on August 31, 2016. Moresan also has significant amounts of trade accounts receivable as a result of credit sales to its customers. On October 1, 2014, some trade accounts receivable were assigned to Indigo Finance Company on a non-notification (Moresan handles collections) basis for an advance of 75% of their amount at an interest charge of 8% on the balance outstanding. On November 1, 2014, other trade accounts receivable were sold on a without recourse basis. The factor withheld 5% of the trade accounts receivable factored as protection against sales returns and allowances and charged a finance charge of 3%. Instructions (a) How should Moresan determine the interest revenue for 2014 on the: (1) Interest-bearing note receivable? Why? (2) Zero-interest-bearing note receivable? Why? (b) How should Moresan report the interest-bearing note receivable and the zero-interest-bearing note receivable on its balance sheet at December 31, 2014? (c) How should Moresan account for subsequent collections on the trade accounts receivable assigned on October 1, 2014, and the payments to Indigo Finance? Why? (d) How should Moresan account for the trade accounts receivable factored on November 1, 2014? Why?

Presented below is information related to Ricky Henderson Company. Cost Retail Beginning inventory $ 200,000 $ 280,000 Purchases 1,375,000 2,140,000 Markups 95,000 Markup cancellations 15,000 Markdowns 35,000 Markdown cancellations 5,000 Sales revenue 2,200,000 Instructions Compute the inventory by the conventional retail inventory method.

Last year, Zeno Company recorded an impairment on an intangible asset held for use. Recent appraisals indicate that the asset has increased in value. Should Zeno record this recovery in value?

Warren Co. purchased a put option on Echo common shares on January 7, 2014, for $360. The put option is for 400 shares, and the strike price is $85 (which equals the price of an Echo share on the purchase date). The option expires on July 31, 2014. The following data are available with respect to the put option. Date Market Price of Echo Shares Time Value of Put Option March 31, 2014 $80 per share $200 June 30, 2014 82 per share 90 July 6, 2014 77 per share 25 Instructions Prepare the journal entries for Warren Co. for the following dates. (a) January 7, 2014—Investment in put option on Echo shares. (b) March 31, 2014—Warren prepares financial statements. (c) June 30, 2014—Warren prepares financial statements. (d) July 6, 2014—Warren settles the put option on the Echo shares.

1.      : What suggestions do you have for the CIO to help her turn this collection of individual regional and departmental heads into a top-performing team? Explain.

Compare and contrast the different year-ends available to sole proprietorships, flow-through entities, and C corporations.

What policy prescriptions do the neoclassical and endogenous growth theories offer policy makers who are looking to raise their country’s long-run growth rate?

How does a universal milling machine differ from a conventional knee-and-column machine?

Given the following equation for a firm’s average cost (AC, i.e. the cost per unit of output (Q):                      AC = 60 – 16Q + 2Q²                (a)  At what output is AC at a minimum?                (b)  Use the second derivative test to prove that this is a minimum not a maximum.

Explain the impact of a decline in interest rates on: a. An investor’s required rate of return, b. The present value of existing bonds, c. The prices of existing bonds. (LO1).