Acct 505 Midterm

Wages paid to an assembly line worker in a factory are a   2. Question : (TCO A) A cost incurred in the past that is not relevant to any current decision is classified as a(n)   3. Question : (TCO A) Depreciation of office buildings and office equipment is also known as   4. Question : (TCO A) When the activity level is expected to increase within the relevant range, what effects would be anticipated with respect to each of the following? 5. Question : (TCO F) Which of the following statements is true? I. Overhead application may be made slowly as a job is worked on. The Illinois Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below. Percentage Completed Units Materials Conversion Work in process, June 1 150,000 75% 55% Work in process, Jun 30 145,000 85% 75% The department started 475,000 units into production during the month and transferred 480,000 completed units to the next department. Compute the equivalent units of production for the first department for June, assuming that the company uses the weighted-average method of accounting for units and costs. 3. Question : (TCO B) A tile manufacturer has supplied the following data:   Boxes of tile produced and sold 625,000 Sales revenue $2,975,000 Variable manufacturing expense $1,720,000 Fixed manufacturing expense $790,000 Variable selling and admin expense $152,000 Fixed selling and admin expense $133,000 Net operating income $180,000 Required: a. Calculate the companys unit contribution margin. b. Calculate the companys unit contribution ratio. c. If the company increases its unit sales volume by 5% without increasing its fixed expenses, what would the companys net operating income be? 4. Question : (TCO E) Lehne Company, which has only one product, has provided the following data concerning its most recent month of operations:   Selling price $ 125 Units in beginning inventory 600 Units oroduced 3000 Units sold 3500 Units in ending inventory 100 Variable costs per unit: Direct materials $ 15 Direct labor $ 50 Variable manufacturing overhead $ 8 Variable selling and admin $ 12 Fixed costs: Fixed manufacturing overhead $ 75,000 Fixed selling and admin $ 20,000 The company produces the same number of units every month, although the sales in units vary from month to month. The companys variable costs per unit and total fixed costs have been constant from month to month. Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare an income statement for the month using the variable costing method. d. Prepare an income statement for the month using the absorption costing method.

Abortion are unethical and should be iilegal Essay

Abortion are unethical and should be iilegal - Essay Example Since the law enforces what is good for the members of society, would it be proper to declare it illegal. However, different societies have different ethical and moral values. States also have different laws on abortion. Furthermore, different theoretical frameworks have their own arguments that support or attack abortion. Jones et al. (6-16) mentioned in â€Å"Abortion in the United States: Incidence and Access to Services† that in the US, 1.21 million abortions occurred in 2005, 100,000 less than in 2000 (Incidence par. 3). The same paper stated that 45 million legal abortions occurred from 1973 to 2005 (par. 3). Jones, Darroch and Henshaw (226-235 qtd. in par. 4) reported that around 2 percent of women from 15 to 44 years old underwent abortion every year and that 47 percent had a minimum of one abortion previously. Using the data from countries where abortion is legal (2003 national data) and WHO estimates from countries where it is illegal, the study revealed that around 20 million unsafe abortions occurred every year with 67,000 deaths resulting from it (Rosenthal pars. 10-11). It was said that when abortion was a criminal act from the later part of 1800 to 1973, millions of women underwent the procedure with around 15,000 deaths annually based on a 1932 study (When Abortion pars. 7-8). Ethics can be understood in two viewpoints: a) it refers to the established â€Å"standards of right and wrong† that set out the â€Å"rights, obligations, benefits to society, fairness,† etc., and b) as a field of study on the standards of ethics (Velasquez pars. 8-9). Viewing abortion from utilitarianism perspective, abortion is ethical as it provides medical and social health benefits that gives happiness to the greatest number of people (Rice pars. 1-2). This approach does not consider the fetus as an individual that loses happiness (have no cognition) but rather considers the happiness of the whole society (par. 11). Abortion of fetus more than 24

U.K. GCSE Coursework- 19th Ghost Stories Essay Example | Topics and Well Written Essays - 1250 words

U.K. GCSE Coursework- 19th Ghost Stories - Essay Example In The Judge’s House the reader is introduced to the character of Malcolm Malcolmson through an omniscient third person narrator. Malcolmson â€Å"feared the attractions of the seaside, and also he feared completely rural isolation.†1 So the dominant feature of this character, at least at first, is â€Å"fear†. He would thus seem to be not very well suited to dealing well with an encounter with a ghost. Malcolmson is deliberately removing himself from everyone and everything he knows in order to study for exams. He is obviously of middle or upper class origins and determined to do well in his academic work. Soon the reader discovers that he is a mathematician, and possesses the self-confidence (some might say arrogance) of a man of science who thinks that only things that can be measured in a scientific sense are worth considering. Thus when he is warned about the terrors of the judge’s house, he replies casually, â€Å" . . . but my dear Mrs. Witham, indeed you need not be concerned about me! A man who is reading for the Mathematical Tripos has too much to think of to be disturbed by any of these mysterious somethings . . . â€Å"2 He thus rejects the supernatural in a good-humored but essentially dismissive manner. He has the confidence of youth, of education and of science. The rest of the story reveals how this confidence is demolished piece by piece. On his initial encounter with the rats that swarm through the house, on his first night of study, Malcomson ends up feeling remarkably at home with the vermin: â€Å"for a little while the rats disturbed him somewhat with their perpetual scampering, but he got accustomed to the noise as one does to the ticking of the clock or the roar of moving water. . . â€Å"3. The rats, at least these non-supernatural rats, are part of the physical world that Malcolmson is studying and feels comfortable with, at least to a point. The fact that â€Å"his problem was still unsolved† at the

Race and Your Community Essay Example | Topics and Well Written Essays - 1750 words

Race and Your Community - Essay Example The period of the Great Depression also saw a huge influx of immigrants from different parts of Europe. Italian nationals were seeking refuge from political persecution and poverty and reached the shores of New England with high hopes. But the conditions prevailing at that time was hostile to its new citizens. The domination by the White Anglo Saxon Protestants (WASP) at that time was uncontested and overwhelming. Though the Italian American community was technically "white" as well, their status was equal to that of black Americans. The trend persisted the following years, culminating during the Second World War, where Italy was at war with America. The civil rights of many Italian Americans were stripped and many innocent citizens were suspected of espionage and subversion. But my grandfather lived to see a positive transformation of this situation after the Second World War. The post War period saw renewed respect for all ethnic minorities given the fact that a significant percent age of armed forces came from the underclass and minorities. (Alba, 1985) As for our own leaders - their take on the situation was a little ambivalent. While blatant societal injustice caused rightful indignation, a corner of their hearts still felt indebted to this "land of the free" for gracefully embracing and welcoming these new citizens from afar. Such feeling for their adopted land is understandable, as my grandfather recollected the stories of persecution and oppression in his native land. (Alba, 1985) Another influential person in our family was our grandmother. Looking back, she was the last link to our ancestral native land. Not only she could speak fluent Italian, but also render an Opera or two. She was also adept at making marinara and rolling gnocchi. I remember how when I was a toddler, she would sing lullabies in Italian to put me to sleep. Much of my knowledge of Christianity is credited to her passing

The Dance Theatre of Harlem Essay Example | Topics and Well Written Essays - 500 words

The Dance Theatre of Harlem - Essay Example In stark contrast you find Return of the Firebird. The somewhat docile mood that is set in this ballet seems to reign supreme throughout the performance. The main drawback being a total lack of enthusiasm by the performers who seem to be actually controlled by the strings of a puppet master rather than their own minds. This garnered a bored feeling as the ballet wore on, seeming to last a lifetime although it was short by many standards. The movements are thoughtful and full of grace, even past the less then perfect planning. One finds themselves staring at the wonderful fluid movements as passion is arisen in the dancer. The supporting members do little to help this master of the dance, but little help is needed. Fall River Legend more than makes up for the loss in Return of the Firebird. The greatly talented staffs of dancers move as one, making the watcher think of a graceful flock of birds evading a predator. The content of these two ballets is no match. The main point of Return of the Firebird seems to be the same old tired love story, terribly overdone in all forms of theatre. When you consider the dark theme that Fall River Legend brings out, you find yourself in a place that few people have gone with the arts. Drawing from the historical data that is available, the writers were able to portray the event

International Finance Assignment Example | Topics and Well Written Essays - 1250 words

International Finance - Assignment Example For cash payments, it can sell the 90-days forward contract to buy US$ at 1.6930. At the expiry, the company will have to sell C$6,237,448 to buy the US$10,560,000. Furthermore, for the receipts the company will have to buy C$ at 1.6960 where it will be selling US$1,560,000 to buy C$919,811. Keeping in view the costs of transactions, the company can sell the 90-days forward contract to hedge the net cash flows of US$9,000,000 at bid rate of C$/US$ 1.6930. The amount payable will be C$5,316,007. ii. Money market hedge on payables will involve taking money market position to cover the future payment. Kennedy Plc can either use its own funds for the hedge or it can borrow the funds in home currency (C$) and make a short-term investment for 90 days in foreign currency. C$ borrowing rate = 3.5625% US$ deposit rate = 2.25% It needs US$10,560,000 in 90 days, therefore, the amount needed to be deposited in US$ is US$10,560,000 / (1 + (0.0225 * (90/360))) = US$10,500,932 Deposit amount in C$ = US$10,500,932/ 1.6875 = C$6,222,774 This amount can be borrowed at an annual interest rate of 3.5625%. C$ amount of loan repayment after 3 months = C$6,222,774* (1+ (0.035625 *(90/360))) = C$6,278,196 Therefore, the company would borrow C$6,222,774 at 3.5625% p.a. for 90 days. Convert the amount into US$ at spot rate of 1.6875, which will amount to US$10,500,932. Deposit this amount at US$ money market deposit rate 2.25% p.a. for 90 days. This will give the amount to be paid i.e. US$10,560,000. At the end of 90 days, Kennedy will make the loan repayment of C$6,278,196. This hedge will allow the company to fix the amount to be paid after three months. To hedge the receivables: Amount expected to be received = US$1,560,000... There are mainly three types of foreign exchange risks or exposures.This is also known as accounting risk, which a firm faces when it has subsidiary operations in other countries. When the foreign exchange movements adversely affect the translated values of assets and liabilities of the subsidiaries, it becomes an unwanted exposure for the parent company’s consolidated financial statements. This risk can be hedged by using currency futures, currency swaps etc.Transaction Exposure: This exposure is related to the future payments and receipts in foreign currency. Companies many a times limit this type of exposure by requiring the cash flows to be received and made in the home currency rather than foreign currency. Another way to minimize this risk is netting out the exposure by a lot of different currencies or only in one currency (Jacque, 1997, p.177). This is done by large corporations with significant amounts of international operations. Other techniques for alleviating short -term currency risks are currency forwards, currency futures, money market hedge, option hedge and cross hedge (Kelley, 2001, pp.32-34).Economic Exposure: This exposure is faced by corporations with large international presence and relates more with the net present value of future cash flows of a firm. The management of economic exposure involves the use of complex instruments and strategies besides the foreign exchange management (Ajami and Goddard, 2006, pp.110-111)

World Financial Environment Essay Example | Topics and Well Written Essays - 1000 words

World Financial Environment - Essay Example The US dollar is undoubtedly the largest global currency. Most of the goods and services around the world are valued in dollars; and much of the international transactions are paid in dollars (Daniels, Radebaugh and Sullivan, 2007). It is quite evident that the President Obamas unprecedented expenditure plans would bring in millions of dollars of budget deficits and consequently increase the US national debt level by more than two-fold in the next five years. Hence, presently there is a common speculation that the dollar is moving for an all-time new slump and a probable collapse (Will the US Dollar Lose "Reserve Currency" Status?, n.d.). As a reserve currency, the dollar is expected to be stable. However, the fluctuations in the dollar value and exchange rates give a different picture all together. The economic meltdown and the global financial crisis occurred due to the financial imbalances shooting from the vast deficits in the US current account and the sever pressures arising from the accommodative monetary policy of the US that affected the exchange rate evaluation across the globe. The US dollar had the tendency to depreciate considerably with respect to the other floating currencies. Since most of the international Therefore, with most of the international transaction being carried out in dollars, some nations arbitrated in their foreign exchange markets to limit currency and monetary precariousness so as to sustain domestic financial stability. This resulted in an increase in the dollar prices of several commodities and a further escalation in the reserve accumulation (Mohan, 2009). Due to the continuous dep reciation in the value of the dollar, concerns have cropped up with regard to its status as the global economy’s reserve currency (Faux, 2002). On the one hand, the unexpected fiscal and monetary policy reactions have resulted in heavy