Question & Answer

Veldre Company provides the following information about its defined benefit pension plan for the year 2014. Service cost $ 90,000 Contribution to the plan 105,000 Prior service cost amortization 10,000 Actual and expected return on plan assets 64,000 Benefi ts paid 40,000 Plan assets at January 1, 2014 640,000 Projected benefi t obligation at January 1, 2014 700,000 Accumulated OCI (PSC) at January 1, 2014 150,000 Interest/discount (settlement) rate 10% Instructions Compute the pension expense for the year 2014.

What is the unit melting energy in welding, and what are the factors on which it depends?

A centerless grinding operation uses a regulating wheel that is 150 mm in diameter and rotates at 500 rev/min. At what inclination angle should the regulating wheel be set, if it is desired to feed a workpiece with length = 3.5 m and diameter = 18 mm through the operation in exactly 30 sec?

Assume that oil-producing countries have agreed to reduce their oil production by 30 percent. How would bond prices be affected by this announcement? Explain. (LO2)

Question: The following data were taken from the balance sheet accounts of Masefield Corporation on December 31, 2013. Current assets $540,000 Debt investments 624,000 Common stock (par value $10) 500,000 Paid-in capital in excess of par 150,000 Retained earnings 840,000 Instructions Prepare the required journal entries for the following unrelated items. (a) A 5% stock dividend is declared and distributed at a time when the market price per share is $39. (b) The par value of the common stock is reduced to $2 with a 5-for-1 stock split. (c) A dividend is declared January 5, 2014, and paid January 25, 2014, in bonds held as an investment. The bonds have a book value of $100,000 and a fair value of $135,000.

Why is the orthogonal cutting model useful in the analysis of metal machining?

Explain how foreign stock exchanges have reduced transactions costs. (LO2, LO5)

Garcia Home Improvement Company installs replacement siding, windows, and louvered glass doors for single-family homes and condominium complexes in northern New Jersey and southern New York. The company is in the process of preparing its annual financial statements for the fiscal year ended May 31, 2014, and Jim Alcide, controller for Garcia, has gathered the following data concerning inventory. At May 31, 2014, the balance in Garcia’s Raw Materials Inventory account was $408,000, and Allowance to Reduce Inventory to Market had a credit balance of $27,500. Alcide summarized the relevant inventory cost and market data at May 31, 2014, in the schedule below. Alcide assigned Patricia Devereaux, an intern from a local college, the task of calculating the amount that should appear on Garcia’s May 31, 2014, financial statements for inventory under the lower-of-costor- market rule as applied to each item in inventory. Devereaux expressed concern over departing from the historical cost principle. Cost Replacement Cost Sales Price Net Realizable Value Normal Profit Aluminum siding $ 70,000 $ 62,500 $ 64,000 $ 56,000 $ 5,100 Cedar shake siding 86,000 79,400 94,000 84,800 7,400 Louvered glass doors 112,000 124,000 186,400 168,300 18,500 Thermal windows 140,000 126,000 154,800 140,000 15,400 Total $408,000 $391,900 $499,200 $449,100 $46,400 Instructions (a) (1) Determine the proper balance in Allowance to Reduce Inventory to Market at May 31, 2014. (2) For the fiscal year ended May 31, 2014, determine the amount of the gain or loss that would be recorded due to the change in Allowance to Reduce Inventory to Market. (b) Explain the rationale for the use of the lower-of-cost-or-market rule as it applies to inventories.

How do S corporations report dividends they receive?  Are they entitled to a dividends-received deduction? Why or why not?

What happens to an elastomer when it is below its glass transition temperature?

Suppose that a travel agency decided it would no longer compensate employees with sales commissions, but instead pay a salary with a bonus for high customer satisfaction ratings. What problems would you foresee from the agency’s financial perspective?

In an electrochemical machining operation, the frontal working area of the electrode is 2.5 in2. The applied current = 1500 amps, and the voltage = 12 volts. The material being cut is pure aluminum, whose specific removal rate is given in Table 26.1. (a) If the ECM process is 90 percent efficient, determine the rate of metal removal in in3/hr. (b) If the resistivity of the electrolyte = 6.2 ohm-in, determine the working gap

Using the information in E20-13 about Erickson Company’s defined benefit pension plan, prepare a 2014 pension worksheet with supplementary schedules of computations. Prepare the journal entries at December 31, 2014, to record pension expense and related pension transactions. Also, indicate the pension amounts reported in the balance sheet.

A 200.00 mm sine bar is used to inspect an angle on a part. The angle has a dimension of 35.0 ± 1.8°. The sine bar rolls have a diameter of 30.0 mm. A set of gage blocks is available that can form any height from 10.0000 to 199.9975 mm in increments of 0.0025 mm. Determine (a) the height of the gage block stack to inspect the minimum angle, (b) height of the gage block stack to inspect the maximum angle, and (c) smallest increment of angle that can be setup at the nominal angle size. All inspection is performed on a surface plate.

List the key statutory requirements that must be met before a corporate formation is tax-deferred under §351.

What are the three phases in shop floor control?

How can small investors participate in investments in negotiable certificates of deposits (NCDs)? (LO1, LO2)

Many of the design guidelines that are applicable to plastics are also applicable to rubber. However, the extreme flexibility of rubber results in certain differences. What are some examples of these differences?

: Explain the fundamental attribution error, and give an example of it from your own experience.

An annual report of Ford Motor Corporation states, “Net income a share is computed based upon the average number of shares of capital stock of all classes outstanding. Additional shares of common stock may be issued or delivered in the future on conversion of outstanding convertible debentures, exercise of outstanding employee stock options, and for payment of defined supplemental compensation. Had such additional shares been outstanding, net income a share would have been reduced by 10¢ in the current year and 3¢ in the previous year. . . . As a result of capital stock transactions by the company during the current year (primarily the purchase of Class A Stock from Ford Foundation), net income a share was increased by 6¢.” What information is provided by this note?

An L-shaped structural section is direct extruded from an aluminum billet in which Lo = 500 mm and Do = 100 mm. Dimensions of the cross section are given in Figure P19.29. Die angle = 90°. Determine (a) extrusion ratio, (b) shape factor, and (c) length of the extruded section if the butt remaining in the container at the end of the ram stroke is 25 mm.

There are 27 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 19.1 The starting workpiece in steel hot rolling of plate and sheet stock is which of the following (one best answer): (a) bar stock, (b) billet, (c) bloom, (d) slab, or (e) wire stock? 19.2 The maximum possible draft in a rolling operation depends on which of the following parameters (two correct answers): (a) coefficient of friction between roll and work, (b) roll diameter, (c) roll velocity, (d) stock thickness, (e) strain, and (f) strength coefficient of the work metal? 19.3 Which of the following stress or strength parameters is used in the computation of rolling force (one best answer): (a) average flow stress, (b) compression strength, (c) final flow stress, (d) tensile strength, or (e) yield strength? 19.4 Which of the following rolling mill types are associated with relatively small diameter rolls in contact with the work (two correct answers): (a) cluster mill, (b) continuous rolling mill, (c) four-high mill, (d) reversing mill, and (e) three-high configuration? 19.5 Production of pipes and tubes is associated with which of the following bulk deformation processes (three correct answers): (a) extrusion, (b) hobbing, (c) ring rolling, (d) roll forging, (e) roll piercing, (f) tube sinking, and (g) upsetting? 19.6 Which of the following stress or strength parameters is used in the computation of the maximum force in a forging operation (one best answer): (a) average flow stress, (b) compression strength, (c) final flow stress, (d) tensile strength, or (e) yield strength? 19.7 Which of the following operations are closely related to open-die forging (three best answers): (a) cogging, (b) flashless forging, (c) fullering, (d) impression-die forging, (e) Mannesmann process, (f) precision forging, (g) soaking, and (h) upsetting? 19.8 Flash in impression die forging serves no useful purpose and is undesirable because it must be trimmed from the part after forming: (a) true or (b) false? 19.9 Which of the following are classified as forging operations (four correct answers): (a) coining, (b) fullering, (c) impact extrusion, (d) roll piercing, (e) swaging, (f) thread rolling, (g) trimming, and (h) upsetting? 19.10 Which of the following are alternative names for indirect extrusion (two correct answers): (a) backward extrusion, (b) direct extrusion, (c) forward extrusion, (d) impact extrusion, and (e) reverse extrusion? 19.11 The production of tubing is possible in indirect extrusion but not in direct extrusion: (a) true or (b) false? 19.12 Which of the following stress or strength parameters is used in the computation of the force in an extrusion operation (one best answer): (a) average flow stress, (b) compression strength, (c) final flow stress, (d) tensile strength, or (e) yield strength? 19.13 In which of the following extrusion operations is friction a factor in determining the extrusion force (one best answer): (a) direct extrusion or (b) indirect extrusion? 19.14 Theoretically, the maximum reduction possible in a wire drawing operation, under the assumptions of a perfectly plastic metal, no friction, and no redundant work, is which of the following (one answer): (a) zero, (b) 0.63, (c) 1.0, or (d) 2.72? 19.15 Which of the following bulk deformation processes are involved in the production of nails for lumber construction (three best answers): (a) bar and wire drawing, (b) extrusion, (c) flashless forging, (d) impression die forging, (e) rolling, and (f) upsetting? 19.16 Johnson's formula is associated with which one of the four bulk deformation processes: (a) bar and wire drawing, (b) extrusion, (c) forging, and (d) rolling?

Explain how losses on impaired intangible assets should be reported in income.

: Describe transformational leadership and when it should be used.

Explain how the Fed’s “quantitative easing” strategies differed from its traditional strategy of buying short-term Treasury securities. (LO3)