Question & Answer

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.

What are the general physical properties of ceramic materials?

Logan Bruno Company has just received the August 31, 2014, bank statement, which is summarized below.   The general ledger Cash account contained the following entries for the month of August. Cash Balance, August 1 10,050 Disbursements in August 34,903 Receipts during August 35,000 Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,050. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August. Instructions (a) Prepare a bank reconciliation dated August 31, 2014, proceeding to a correct balance. (b) Prepare any entries necessary to make the books correct and complete. (c) What amount of cash should be reported in the August 31 balance sheet?

Give some other examples of changes in one injection or withdrawal that can affect others.

Katie recently won a ceramic dalmatian valued at $800 on a television game show.  She questions whether this prize is taxable since it was a “gift” she won on the show.  a.  Use an available tax research service to answer Katie’s question. b.  Write a letter to Katie communicating the results of your research

Solve Problem 20.19 except that the starting blank size diameter = 175 mm

1.       You have been hired to manage a 20-person staff for Nightlight Travels, a travel agency in Las Vegas. For a full year, sales have been hammered by the COVID-19 pandemic, and staff morale has plummeted as key employees left for positions in more secure industries. The few remaining key customer relationships have been damaged by the sloppy and unprofessional work habits of the remaining staff members. Your first responsibility as a new manager is to create next year’s budget for all planned expenditures. But first you must decide if you will adopt a hierarchical approach or a decentralized approach to control. Which would you choose, and why?

Wayne Rogers Corp. maintains its financial records on the cash basis of accounting. Interested in securing a long-term loan from its regular bank, Wayne Rogers Corp. requests you as its independent CPA to convert its cash-basis income statement data to the accrual basis. You are provided with the following summarized data covering 2013, 2014, and 2015.   Instructions (a) Using the data above, prepare abbreviated income statements for the years 2013 and 2014 on the cash basis. (b) Using the data above, prepare abbreviated income statements for the years 2013 and 2014 on the accrual basis.

Diderot Stores Inc., which uses the conventional retail inventory method, wishes to change to the LIFO retail method beginning with the accounting year ending December 31, 2014. Amounts as shown below appear on the store’s books before adjustment. Cost Retail Inventory, January 1, 2014 $ 15,800 $ 24,000 Purchases in 2014 116,200 184,000 Markups in 2014 12,000 Markdowns in 2014 5,500 Sales revenue in 2014 175,000 You are to assume that all markups and markdowns apply to 2014 purchases, and that it is appropriate to treat the entire inventory as a single department. Instructions Compute the inventory at December 31, 2014, under the following methods. (a) The conventional retail method. (b) The last-in, first-out retail method, effecting the change in method as of January 1, 2014. Assume that the cost-to-retail percentage for 2013 was recomputed correctly in accordance with procedures necessary to change to LIFO. This ratio was 59%.

1.       : Describe the advantages of using a balanced scorecard to measure and control organizational performance. Suppose that you created a balanced scorecard for a Walmart Neighborhood Market. Which specific customer service measures would you include?

Ken sold a rental property for $500,000. He received $100,000 in the current year and $100,000 each year for the next four years. Of the sales price, $400,000 was allocated to the building, and the remaining $100,000 was allocated to the land. Ken purchased the property several years ago for $300,000. When he initially purchased the property, he allocated $225,000 of the purchase price to the building and $75,000 to the land. Ken has claimed $25,000 of depreciation deductions over the years against the building. Ken had no other sales of §1231 or capital assets in the current year. For the year of the sale, determine Ken’s recognized gain or loss and the character of Ken’s gain, and calculate Ken’s tax due because of the sale (assuming his marginal ordinary tax rate is 32 percent). (Hint: See the examples in Reg. §1.453-12.)

How does abrasive belt grinding differ from a conventional surface grinding operation?

Which way will the supply curve shift if the wage rates in alternative jobs rise?

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.      : How might the state control the accuracy of principals who are conducting teacher evaluations? Explain.

Define surface texture.

What factors might call for inventory valuation at sales prices (net realizable value or market price)?