Question & Answer

What is a cost object? Give 3 examples.

1.       : Some people argue that the presence of an outside threat correlates with a high degree of team cohesiveness. Would you agree or disagree? Explain your answer.

A fiberglass composite is composed of a matrix of vinyl ester and reinforcing fibers of E-glass. The volume fraction of E-glass is 35%. The remainder is vinyl ester. The density of the vinyl ester is 0.882 g/cm3 , and its modulus of elasticity is 3.60 GPa. The density of E-glass is 2.60 g/cm3 , and its modulus of elasticity is 76.0 GPa. A section of composite 1.00 cm by 50.00 cm by 200.00 cm is fabricated with the E-glass fibers running longitudinal along the 200-cm direction. Assume there are no voids in the composite. Determine the (a) mass of vinyl ester in the section, (b) mass of Eglass fibers in the section, and (c) the density of the composite

Laura Leasing Company signs an agreement on January 1, 2014, to lease equipment to Plote Company. The following information relates to this agreement. 1. The term of the noncancelable lease is 5 years with no renewal option. The equipment has an estimated economic life of 5 years. 2. The fair value of the asset at January 1, 2014, is $80,000. 3. The asset will revert to the lessor at the end of the lease term, at which time the asset is expected to have a residual value of $7,000, none of which is guaranteed. 4. Plote Company assumes direct responsibility for all executory costs, which include the following annual amounts: (1) $900 to Rocky Mountain Insurance Company for insurance and (2) $1,600 to Laclede County for property taxes. 5. The agreement requires equal annual rental payments of $18,142.95 to the lessor, beginning on January 1, 2014. 6. The lessee’s incremental borrowing rate is 12%. The lessor’s implicit rate is 10% and is known to the lessee. 7. Plote Company uses the straight-line depreciation method for all equipment. 8. Plote uses reversing entries when appropriate. Instructions (Round all numbers to the nearest cent.) (a) Prepare an amortization schedule that would be suitable for the lessee for the lease term. (b) Prepare all of the journal entries for the lessee for 2014 and 2015 to record the lease agreement, the lease payments, and all expenses related to this lease. Assume the lessee’s annual accounting period ends on December 31.

Use the information from IFRS18-6, but assume Turner uses the cost-recovery method. Prepare the company’s 2014 journal entries.

How is money supply growth affected by an increase in the reserve requirement ratio? (LO2)

What is the chemical formula of ethylene, the monomer for polyethylene?

In January 2014, installation costs of $6,000 on new machinery were charged to Maintenance and Repairs Expense. Other costs of this machinery of $30,000 were correctly recorded and have been depreciated using thestraight-line method with an estimated life of 10 years and no salvage value. At December 31, 2015, it is decided that the machinery has a remaining useful life of 20 years, starting with January 1, 2015. What entry(ies) should be made in 2015 to correctly record transactions related to machinery, assuming the machinery has no salvage value? The books have not been closed for 2015 and depreciation aexpense has not yet been recorded for 2015.

Compare the relative effectiveness of fiscal and monetary policy under (a) fixed; (b) free-floating exchange rates.

Name some of the FMS software and control functions

: How do you think that the team evolved to this low level of cooperation and cohesiveness?

Explain how the Treasury uses the primary market to obtain adequate funding from the U.S. government. (LO1)

There are 17 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 scor the quiz is based on the total number of correct answers. 26.1 Which of the following processes use mechanical energy as the principal energy source (three correct answers): (a) electrochemical grinding, (b) laser beam machining, (c) conventional milling, (d) ultrasonic machining, (e) water jet cutting, and (f) wire EDM? 26.2 Ultrasonic machining can be used to machine both metallic and nonmetallic materials: (a) true or (b) false? 26.3 Applications of electron beam machining are limited to metallic work materials due to the need for the work to be electrically conductive: (a) true or (b) false? 26.4 Which one of the following is closest to the temperatures used in plasma arc cutting: (a) 2750°C (5000°F), (b) 5500°C (10,000°F), (c) 8300°C (15,000°F), (d) 11,000°C (20,000°F), or (e) 16,500°C (30,000°F) 26.5 Chemical milling is used in which of the following applications (two best answers): (a) drilling holes with high depth-to-diameter ratio, (b) making intricate patterns in thin sheet metal, (c) removing material to make shallow pockets in metal, (d) removing metal from aircraft wing panels, and (e) cutting of plastic sheets? 26.6 Etch factor is equal to which of the following in chemical machining (more than one): (a) anisotropy, (b) CIt, (c) d/u, and (d) u/d; where C = specific removal rate, d = depth of cut, I = current, t = time, and u = undercut? 26.7 Of the following processes, which one is noted for the highest material removal rates: (a) electric discharge machining, (b) electrochemical machining, (c) laser beam machining, (d) oxyfuel cutting, (e) plasma arc cutting, (f) ultrasonic machining, or (g) water jet cutting? 26.8 Which one of the following processes would be appropriate to drill a hole with a square cross section, 0.25 inch on a side and 1-inch deep in a steel workpiece: (a) abrasive jet machining, (b) chemical milling, (c) EDM, (d) laser beam machining, (e) oxyfuel cutting, (f) water jet cutting, or (g) wire EDM? 26.9 Which of the following processes would be appropriate for cutting a narrow slot, less than 0.015 inch wide, in a 3/8-in-thick sheet of fiber-reinforced plastic (two best answers): (a) abrasive jet machining, (b) chemical milling, (c) EDM, (d) laser beam machining, (e) oxyfuel cutting, (f) water jet cutting, and (g) wire EDM? 26.10 Which one of the following processes would be appropriate for cutting a hole of 0.003 inch diameter through a plate of aluminum that is 1/16 in thick: (a) abrasive jet machining, (b) chemical milling, (c) EDM, (d) laser beam machining, (e) oxyfuel cutting, (f) water jet cutting, and (g) wire EDM? 26.11 Which of the following processes could be used to cut a large piece of 1/2-inch plate steel into two sections (two best answers): (a) abrasive jet machining, (b) chemical milling, (c) EDM, (d) laser beam machining, (e) oxyfuel cutting, (f) water jet cutting, and (g) wire EDM?

The plant manager of a manufacturing firm suggested in a conference of the company’s executives that accountants should speed up depreciation on the machinery in the finishing department because improvements were rapidly making those machines obsolete, and a depreciation fund big enough to cover their replacement is needed. Discuss the accounting concept of depreciation and the effect on a business concern of the depreciation recorded for plant assets, paying particular attention to the issues raised by the plant manager.

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.

Allocating support costs to units A local hospital is required to account for the total cost of patient care, including support costs. Patients are assigned all direct costs. Support costs are $240 000 per month plus $90 per patient day. This 120-bed hospital averages 80 per cent occupancy.   Required (a)   Calculate the average daily charge per patient for support costs, assuming 30 days in a month. (b)   Briefly comment on potential problems in using only one indirect cost pool for support costs given that individual patients receive a range of different treatments while an inpatient.

You are auditing the December 31, 2014, financial statements of Hockney, Inc., manufacturer of novelties and party favors. During your inspection of the company garage, you discovered that a used automobile not listed in the equipment subsidiary ledger is parked there. You ask Stacy Reeder, plant manager, about the vehicle, and she tells you that the company did not list the automobile because the company was only leasing it. The lease agreement was entered into on January 1, 2014, with Crown New and Used Cars. You decide to review the lease agreement to ensure that the lease should be afforded operating lease treatment, and you discover the following lease terms. 1. Noncancelable term of 4 years. 2. Rental of $3,240 per year (at the end of each year). (The present value at 8% per year is $10,731.) 3. Estimated residual value after 4 years is $1,100. (The present value at 8% per year is $809.) Hockney guarantees the residual value of $1,100. 4. Estimated economic life of the automobile is 5 years. 5. Hockney’s incremental borrowing rate is 8% per year. Instructions You are a senior auditor writing a memo to your supervisor, the audit partner in charge of this audit, to discuss the above situation. Be sure to include (a) why you inspected the lease agreement, (b) what you determined about the lease, and (c) how you advised your client to account for this lease. Explain every journal entry that you believe is necessary to record this lease properly on the client’s books. (It is also necessary to include the fact that you communicated this information to your client.)

Explain how accountants and managers decide which cost variances to monitor.

For the following application, identify one or more nontraditional machining processes that might be used, and present arguments to support your selection. Assume that either the part geometry or the work material (or both) preclude the use of conventional machining. The application is an engraved aluminum printing plate to be used in an offset printing press to make 275 by 350 mm (11 by 14 in) posters of Lincoln's Gettysburg address.

For the following application, identify one or more nontraditional machining processes that might be used, and present arguments to support your selection. Assume that either the part geometry or the work material (or both) preclude the use of conventional machining. The application is a through-hole in the shape of the letter L in a 12.5 mm (0.5 in) thick plate of glass. The size of the \"L\" is 25 by 15 mm (1.0 by 0.6 in) and the width of the hole is 3 mm (1/8 in).

For the following application, identify one or more nontraditional machining processes that might be used, and present arguments to support your selection. Assume that either the part geometry or the work material (or both) preclude the use of conventional machining. The application is a blind-hole in the shape of the letter G in a 50 mm (2.0 in) cube of steel. The overall size of the \"G\" is 25 by 19 mm (1.0 by 0.75 in), the depth of the hole is 3.8 mm (0.15 in), and its width is 3 mm (1/8 in).

If the slope of the Cd function is ¾ what is the slope of the W function?

A test specimen in a tensile test has a gage length of 2.0 in and an area = 0.5 in2 . During the test the specimen yields under a load of 32,000 lb. The corresponding gage length = 2.0083 in. This is the 0.2 percent yield point. The maximum load of 60,000 lb is reached at a gage length = 2.60 in. Determine (a) yield strength, (b) modulus of elasticity, and (c) tensile strength. (d) If fracture occurs at a gage length of 2.92 in, determine the percent elongation. (e) If the specimen necked to an area = 0.25 in2 , determine the percent reduction in area.

In what sense is it true to say that the Phillips curve is horizontal today?

1.      Vote in support of Hank Schmidt’s decision to hold each individual member accountable for the entire project. The professor clearly stated his policy at the beginning of the semester, and the students should have been more vigilant. The committee should not undercut a professor’s explicit policy.