MIS CH17 HW11.value9.09 pointsHudson Community Colleg.docx
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MIS CH17 HW1 1. value: 9.09 points Hudson Community College enrolls students in two departments, Liberal Arts and Sciences. The college also has two service departments, the Library and the Computing Services Department. The usage of these two service departments’ output for the year is as follows: Provider of Service User of Service Library Computing Services Library — 20 % Computing Services — — Liberal Arts 60 % 30 % Sciences 40 % 50 % The budgeted costs in the two service departments for the year are as follows: Library $ 710,000 Computing Services 240,000 Required: 1. Use the direct method to allocate the budgeted costs of the Library and Computing Services Department to the college’s Liberal Arts and Sciences departments. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) Provider of Service Liberal Arts Sciences Library $ $ Computing Total $ $ eBook Linkreferences 2. value: 9.09 points Tuscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the two service departments’ output for the year is as follows: Provider of Service User of Service HR Computing HR — 15 % Computing 20 % — Deposit 50 % 50 % Loan 30 % 35 % The budgeted costs in the two service departments for the year are as follows: HR $ 162,000 Computing 239,700 Required: Use the direct method to allocate the budgeted costs of the HR and Computing departments to the Deposit and Loan departments. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) Provider of Service Deposit Loan HR $ $ Computing Total $ $ eBook Linkreferences 3. value: 9.09 points Breakfasttime Cereal Company manufactures two breakfast cereals in a joint process. Cost and quantity information is as follows: Joint Cost Cereal Quantity at Split-Off Point Sales Price per Kilogram $ 46,000 Yummies 28,800 kilograms $ 4.90 Crummies 7,200 kilograms 5.40 Required: Use the physical-units method to allocate the company’s joint production cost between Yummies and Crummies. (Do not round intermediate calculations. Omit the "$" sign in your response.) Allocation of Joint Cost Yummies $ Crummies $ eBook Linkreferences 4. value: 9.09 points Hudson Community College enrolls students in two departments, Liberal Arts and Sciences. The college also has two service departments, the Library and the Computing Services Department. The usage of these two service departments’ output for the year is as follows: Provider of Service User of Service Library Computing Services Library — 20 % ...
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Written assignment (essay and calculations)
Activity brief
BCO322 – Budgeting and Control
Online campus
Professor: Senen Garcia | [email protected]
Description
Your knowledge will be tested on the content of week 1 to 6 of the course.
Format
This activity must meet the following formatting requirements:
· Font size 12
· 1200 - 2200 words
· Harvard Referencing System
Due date
Date: Monday 15 March 2021
Time: 14:00 CET
Weight towards final grade
This activity has a weight of 40% towards the final grade.
Learning outcomes
· Outcome One: Classification of costs
· Outcome Two: Cost of Finished Goods
· Outcome Three: Cost of Goods Sold
· Outcome Four: Job order and process costing
· Outcome Five: Cost Volume Profit Analysis-Cost per unit
· Outcome Six: Cost Volume Profit Analysis-Breakeven Analysis
· Outcome Seven:Cost Volume Profit Analysis-Margin of Safety
· Outcome Eight:Cost Volume Profit Analysis-operating income with different volumes
Assessment criteria
· Answers should be clear and well presented (Provide spacing between paragraphs, number your questions correctly)
· Remember to in-text reference and provide your referencing at the end.
· Referencing should be Harvard Style
· Show all calculations
· Cannot submit photos. May use MS Word, MS Excel, Adobe Acrobat, or similar software.
Questions:
QUESTION 1
1.1. Classification of costs
Using the code letters below, indicate in the space provided how each of the following costs should be classified for a pen manufacturing company:
Costs
____ (a) Property tax on the factory building.
____ (b) The chief financial officer's salary.
____ (c) Plastic used to manufacture pens.
____ (d) Janitors at the factory.
____ (e) Manufactured pens waiting to be sold to customers.
____ (f) Advertising logos.
____ (g) Partially completed pens.
QUESTION 2
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2.2. What are the Total manufacturing costs charged (debited) to Work in Process during September:
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2.4. Calculate the cost of goods sold in September:
QUESTION 3
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3.2. Job order cost system
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At the end of the current year, Century Pools' direct labor cost totaled $170,000 and actual overhead amounted to $105,000.
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Scattergraph, High-Low Method, and Predicting Cost for a Different Time Period from the One Used to Develop a Cost Formula
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Receiving Orders
Receiving Cost
1
1,000
$18,000
2
700
15,000
3
1,500
28,000
4
1,200
17,000
5
1,300
25,000
6
1,100
21,000
7
1,600
29,000
8
1,400
24,000
9
1,700
27,000
10
900
16,000
Required:
1. On your own paper, prepare a scattergraph based on the 10 months of data. Based on this, does the relationship appear to be linear?
2. Using the high-low method, select a cost formula for the receiving activity.
Using the cost formula, what is the predicted cost of receiving for a month in which 1,450 receiving orders are processed?
$fill in the blank 3
3. Prepare a cost formula for the receiving activity for a quarter. Based on this formula, what is the predicted cost of receiving for a quarter in which 4,650 receiving orders are anticipated?
$fill in the blank 4
Prepare a cost formula for the receiving activity for a year. Based on this formula, what is the predicted cost of receiving for a year in which 18,000 receiving orders are anticipated?
$fill in the blank 5
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1,000
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21,000
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1,600
29,000
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24,000
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1,700
27,000
10
900
16,000
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Intercept
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Slope
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1
University of Leeds School of Computing
Procedural Programming COMP1711
Semester 1, 2019-2020
Coursework 1
40 Marks
(20% of the total module marks)
Submission Deadline
Your coursework must be uploaded to Minerva before
10am on Friday 25/10/2019
Late Penalties
5% will be deducted from your overall mark for every late day
1 Skills Tested
This coursework will test your ability to write a C program that correctly uses variables, expressions,
assignment, conditional execution (the ‘if’ statement), and iteration (the ‘while’ or ‘for’ loops). It will
also test your ability to write well-structured C programs with correct indentation of statements.
Finally, you need to show that you are able to use comments to explain how your program works.
2 The Brief
You will write a program for an energy provider company. The program computes and prints quarterly
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company.
3 The Details
An energy provider company needs a program to compute and print electricity bills. The program
takes as input the quarterly electricity consumption of a customer in kilowatt-hours (kWh) then
computes and prints the bill on the screen.
The company supplies electricity to two types of customers:
1. Domestic customers.
2. Business customers.
The tariff (price/unit energy) that the company charges for electricity:
• £0.65/kWh for domestic customers.
• £1.04/kWh for business customers.
Business customers are given a 10% discount on the cost of consumed electricity if their quarterly
2
consumption is above 5000 kWh.
In addition to the cost of consumed electricity, customers must also pay a standing charge to cover
transmission and operational costs. The standing charge is:
• £0.30/day for domestic customers.
• £0.96/day for business customers.
For simplicity, we will assume that a quarter has exactly 91 days.
Customers must also pay VAT (Value Added Tax) on the total amount of charges. The current VAT
rates are:
• 5% for domestic customers.
• 20% for business customers.
However, if the quarterly consumption of a business customer is less than 1000kWh, they pay a
reduced VAT at 5%.
Finally, business customers must also pay a Climate Change Levy (CLL) at £0.00847/kWh.
3.1 Examples
Here are some examples of how to compute bills for both types of customers.
Example 1. A domestic customer consumed 300kWh in one quarter:
Electricity cost 300 * 0.65 = £195.00
Standing charge (91 days) 91 * 0.30 = £27.30
Total charges 195.00 + 27.3 = £222.30
VAT at 5% (on £222.30) 222.30 * 0.05 = £11.115
Amount due (rounded to nearest penny) £233.42
Example 2. A domestic customer consumed 0kWh in one quarter:
Electricity cost 0 * 0.65 = £0.00
Standing charge (91 days) 91 * 0.30 = £27.30
Total charges 0.00 + 27.3 = £27.30
VAT at 5% (on £27.30) 27.3 ...
CASE 6B – CHESTER & WAYNE Chester & Wayne is a regional .docx
CASE 6B – CHESTER & WAYNE
Chester & Wayne is a regional food distribution company. Mr. Chester, CEO, has asked your
assistance in preparing cash-flow information for the last three months of this year. Selected
accounts from an interim balance sheet dated September 30, have the following balances:
Cash $142,100 Accounts payable $354,155
Marketable securities 200,000 Other payables 53,200
Accounts receivable $1,012,500
Inventories 150,388
Mr. Wayne, CFO, provides you with the following information based on experience and
management policy. All sales are credit sales and are billed the last day of the month of sale.
Customers paying within 10 days of the billing date may take a 2 percent cash discount. Forty
percent of the sales is paid within the discount period in the month following billing. An
additional 25 percent pays in the same month but does not receive the cash discount. Thirty
percent is collected in the second month after billing; the remainder is uncollectible. Additional
cash of $24,000 is expected in October from renting unused warehouse space.
Sixty percent of all purchases, selling and administrative expenses, and advertising expenses is
paid in the month incurred. The remainder is paid in the following month. Ending inventory is
set at 25 percent of the next month's budgeted cost of goods sold. The company's gross profit
averages 30 percent of sales for the month. Selling and administrative expenses follow the
formula of 5 percent of the current month's sales plus $75,000, which includes depreciation of
$5,000. Advertising expenses are budgeted at 3 percent of sales.
Actual and budgeted sales information is as follows:
Actual: Budgeted:
August $750,000 October $826,800
September 787,500 November 868,200
December 911,600
January 930,000
The company will acquire equipment costing $250,000 cash in November. Dividends of $45,000
will be paid in December.
The company would like to maintain a minimum cash balance at the end of each month of
$120,000. Any excess amounts go first to repayment of short-term borrowings and then to
investment in marketable securities. When cash is needed to reach the minimum balance, the
company policy is to sell marketable securities before borrowing.
The company will acquire equipment costing $250,000 cash in November. Dividends of $45,000
will be paid in December.
The company would like to maintain a minimum cash balance at the end of each month of
$120,000. Any excess amounts go first to repayment of short-term borrowings and then to
investment in marketable securities. When cash is needed to reach the minimum balance, the
company policy is to sell marketable securities before borrowing.
Questions (use of spreadsheet software is recommended):
1. Prepare a cash budget for each month of the fourth quarter and for the quarter in total.
Prepare supporting schedules as needed. (Round all budge.
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Case 9: Bulimia Nervosa in Gorenstein and Comer (2014)
Rita was a 26-year-old manager of a local Italian restaurant and lived in the same city as her parents. Her childhood was not a happy one. Her parents divorced when she was about 5 years of age. She and her three older brothers remained with their mother, who often seemed overwhelmed with her situation and unable to run the household effectively. Rita would often refer to her childhood as utterly chaotic, as if no one were in charge. Within a 12-month period, 1 percent to 1.5 percent of individuals will meet the diagnostic criteria for bulimia nervosa; at least 90 percent of cases occur in females (APA, 2013). She nevertheless muddled through. When her brothers were finally all off to college or beyond, Rita entered high school, and the household seemed more manageable. Ultimately, she developed a close relationship with her mother, indeed too close, Rita suspected. Her mother seemed like her closest friend, at times the entire focus of her social life. They were both women alone, so to speak, and relied heavily on one another for comfort and support, preventing Rita from developing serious friendships. The two often went shopping together. Rita would give her mother an update on the most recent fashion trends, and her mother would talk to Rita about “how important it is to look good and be put together in this day and age.” Rita didn’t mind the advice, but sometimes she did wonder if her mother kept saying that as a way of telling her that she didn’t think she looked good. Rita later attended a local public college, majoring in business. However, she quit after 3 years to take a job at the restaurant. She had begun working in the restaurant part-time while a sophomore and after 2 years was offered the position of daytime manager. It was a well-paying job, and since her interest was business anyway, Rita figured it made sense to seize an attractive business opportunity. Her mother was not very supportive of her decision to leave college, but Rita reassured her that she intended to go back and finish up after she had worked for a while and saved some money. Just before leaving college, Rita began a serious relationship with a man whom she met at school. Their interest in each other grew, and they eventually got engaged. Everything seemed to be going well when out of the blue, her fiancé’s mental state began to deteriorate. Ultimately he manifested a pattern of schizophrenia and had to be hospitalized. As his impairment extended from days to months and then to more than a year, Rita finally had to end the engagement; she had to pick up the pieces and go on without him. She felt as if he had died. A period of psychotherapy helped ease her grief and her adjustment following this tragedy, and eventually she was able to move on with her life and to resume dating again. However, serious relationships eluded her. Rita knew that she was a moody person—she judged people harshly and displayed irrita.
Case 8.1 Pros and Cons of Balkan Intervention59Must the a.docx
Case 8.1 Pros and Cons of Balkan Intervention59
“Must the agony of Bosnia-Herzegovina be regarded, with whatever regrets, as somebody else’s trouble?
We don’t think so, but the arguments on behalf of that view deserve an answer. Among them are the
following:
The Balkan conflict is a civil war and unlikely to spread beyond the borders of the former
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Macedonia, that northern Greece as far south as Thessaloniki belonged under its sovereignty. Those
claims may return. ‘Civil’ war pitting non-Slavic Albanians against Serbs could spread to Albania,
Turkey, Bulgaria, and Greece.
The United States has no strategic interest in the Balkans. Wrong. No peace, no peace dividend.
Unless the West can impose the view that ethnic purity can no longer be the basis for national
sovereignty, then endless national wars will replace the Cold War. This threat has appeared in
genocidal form in Bosnia. If it cannot be contained here, it will erupt elsewhere, and the Clinton
administration’s domestic agenda will be an early casualty.
If the West intervenes on behalf of the Bosnians, the Russians will do so on behalf of the Serbs, and
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The UN peace plan is the only alternative. Wrong. Incredibly, the plan proposes the reorganization
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shape processes of making and justifying decisions. For example, during times of crisis, the images which
United States policymakers have of another country affect deliberations about the use of peacekeeping
and negotiation, the imposition of economic sanctions, o.
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
CASE 5
Business Performance Evaluation: Approaches for Thoughtful Forecasting
Every day, fortunes are won and lost on the backs of business performance assessments and forecasts. Because of the uncertainty surrounding business performance, the man-ager should appreciate that forecasting is not the same as fortune-telling; unanticipated events have a way of making certain that specific forecasts are never exactly correct. This note purports, however, that thoughtful forecasts greatly aid managers in under-standing the implications of various outcomes (including the most probable outcome) and identify the key bets associated with a forecast. Such forecasts provide the manager with an appreciation of the odds of business success. This note examines principles in the art and science of thoughtful financial fore-casting for the business manager. In particular, it reviews the importance of (1) under-standing the financial relationships of a business enterprise, (2) grounding business forecasts in the reality of the industry and macroenvironment, (3) modeling a forecast that embeds the implications of business strategy, and (4) recognizing the potential for cognitive bias in the forecasting process. The note closes with a detailed example of financial forecasting based on the example of the Swiss food and nutrition com-pany Nestle.
Understanding the Financial Relationships of the Business Enterprise
Financial statements provide information on the financial activities of an enterprise. Much like the performance statistics from an athletic contest, financial statements provide an array of identifying data on various historical strengths and weaknesses
This technical note was prepared by Professor Michael J. Schill. Special thanks go to Vladimir Kolcin for data-collection assistance and to Lee Ann Long-Tyler and Ray Nedzel for technical assistance. Copyright © 2015 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved. To order copies, send an e-mail to [email protected] No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation.
Part TwoFinancial Analysis and Forecasting
across a broad spectrum of business activities. The income statement (also known as the profit-and-loss statement) measures flows of costs, revenue, and profits over a defined period of time, such as a year. The balance sheet provides a snapshot of business invest-ment and financing at a particular point in time, such as the end of a year. Both state-ments combine to provide a rich picture of a business’s financial performance. The analysis of financial statements is one important way of understanding the mechanics of the systems that make up business operations. Interpreting Financial Ratios Financial ratios provide a useful way to id.
Case 6-2 Not Getting Face Time at Facebook—and Getting the Last La.docx
Case 6-2 Not Getting Face Time at Facebook—and Getting the Last Laugh!
In August 2009, Facebook turned down job applicant Brian Acton, an experienced engineer who had previously worked at Yahoo and Apple. More than 4 years later, Facebook paid him $3 billion to acquire his 20% stake of WhatsApp, a start-up he had cofounded immediately after Facebook rejected his job application.(1) WhatsApp Messenger is a proprietary, cross-platform, instant-messaging subscription service for smartphones and selected feature phones that use the Internet for communication. In addition to text messaging, users can send each other images, video, and audio media messages, as well as their location using integrated mapping features.(2) How could Facebook, a highly successful firm, have made such a drastic mistake?
Back in 2009, Brian Acton was a software engineer who was out of work for what seemed like a very long time. He believed he had what it took to make a difference in the industry, but his career did not work out as planned. Even though he spent years at Apple and Yahoo, he got rejected many times by Twitter and Facebook.(3) Acton described the details of the interview process that he failed to do well in as follows:
First of all, interviewing a person for a job that requires technical skills is difficult for both the interviewer and the interviewee. Facebook is a highly desirable firm to work for and requires the best skills and talents from all of their potential employees. It is therefore not surprising that the selection process rivals, if not tops, any company in the industry. The process starts with an email or a phone call from a recruiter in response to an online application or [to] a recommendation from a friend who may work for Facebook. Sometimes, in the initial chat online, timed software coding challenges are set to find the best performers. If this chat goes well, an applicant will go on to the next level—an initial in-person interview or phone screening.(4)
In this next hurdle, the applicant will have a 45-minute chat with a fellow engineer/potential coworker, [with] whom he or she shares the same area of expertise. They will tell you about their job and what their role is in Facebook; then they ask about the applicant’s résumé, motivation, and interests. Additionally, the applicant will be tested about his or her technical skills, coding exercises, and programming abilities.(5)
If successful, the applicant will be invited for back-to-back interviews. This part of the process is very grueling and stressful since all the interviews take place throughout a single day. The candidate will also be asked to manually write a program on a whiteboard to make sure that the applicant is knowledgeable about program writing. The goal in this final step is to see how one approaches a problem and comes up with a solution [that] is simple enough to solve in 10–30 minutes and can be easily explained.(6)
As a potential coworker, the applicant will be te.
Case 6.4 The Case of the Poorly Performing SalespersonEd Markham.docx
Case 6.4 The Case of the Poorly Performing Salesperson
Ed Markham, the African American sales manager at WCTV, is considering how to handle a problem with one of his salespersons, Jane Folsom, who is White. Ed was promoted to sales manager three months ago after working at WCTV for 2 years. He earned his promotion by exceeding sales goals every month after his first on the job. He developed a research report using secondary data like MRI and the Lifestyle Market Analyst to analyze the market. His former boss praised the report, gave a copy to all salespersons, and included a summary of it in the rate card. When his former boss left for a new job in a larger market, he recommended Ed as his replacement.
Jane has been a salesperson at WCTV for 2 years. For most of that time, she has exceeded sales quotas about as much as Ed had. For the past 3 months, she has not met sales quotas. After his second month as sales manager, Ed talked to Jane about her performance. She attributed her below-average performance to the closing of a major advertiser, Anthony’s Fashions. This local clothing store closed because several major retailers, including JC Penney and Dillard’s, had opened at the local mall.
Ed listened to Jane’s explanation and then suggested ways to obtain new clients. He asked Jane whether she had set personal sales goals, set up a prospect file of new and inactive advertisers as well as existing businesses that were potential clients, come up with research and data on the market to use in presentations and reports to clients, come up with new ideas or opportunities to advertise for clients, or asked her clients about their needs and goals (Shaver, 1995). Jane said no, she simply telephoned or visited her clients regularly to see if they wanted to run ads.
Ed also asked Jane why several of her clients had not paid their bills. He explained that a salesperson must check out a client’s ability to pay before running a schedule. Jane replied that she was not aware of that fact and that no one had ever trained her to sell. She had sold time for a radio station before, but that was all the training she had. Ed’s predecessor had just hired her and cut her loose.
Ed gave Jane a memo after their first meeting a month ago asking her to focus on sales training for the next month. First, she should read Shaver’s (1995) Making the Sale! How to Sell Media With Marketing. He gave her a copy, told her to read it, and asked her to contact him if she had any questions. After reading the book, he told her that she should establish written personal sales goals, begin to develop a prospect file (with two new and two inactive clients), and develop three ideas for new advertising opportunities for existing clients. In the memo, Ed told Jane that he would not hold her to sales performance standards that month. He wanted Jane to focus on doing the background work he assigned to help her improve her future sales performance.
At the meeting a month later, Ed discovered.
Case 5.6Kelo v City of New London545 U.S. 469 (2005)Ye.docx
Case 5.6
Kelo v City of New London
545 U.S. 469 (2005)
Yes, Actually, They Can Take That Away From You
Facts
In 1978, the city of New London, Connecticut, undertook a redevelopment plan for purposes of creating a redeveloped area in and around the existing park at Fort Trumbull. The plan sought to develop the related ambience a state park should have, including the absence of pink cottages and other architecturally eclectic homes. Part of the redevelopment plan was the city’s deal with Pfizer Corporation for the location of its research facility in the area. The preface to the city’s development plan included the following statement of goals and purpose:
To create a development that would complement the facility that Pfizer was planning to build, create jobs, increase tax and other revenues, encourage public access to and use of the city’s waterfront, and eventually “build momentum” for the revitalization of the rest of the city, including its downtown area.
The affected property owners, including Susette Kelo, live in homes and cottages (15 total) located in and around other existing structures that would be permitted to stay in the area designated for the proposed new structures (under the city’s economic development plan) that would be placed there primarily by private land developers and corporations. The city was assisted by a private, nonprofit corporation, the New London Development Corporation (NLDC), in the development of the economic plan and piloting it through the various governmental processes, including that of city council approval. The central focus of the plan was getting Pfizer to the Fort Trumbull area (where the homeowners and their properties were located) with the hope of a resulting economic boost that such a major corporate employer can bring to an area.
Kelo and the other landowners whose homes would be razed to make room for Pfizer and the accompanying and resulting economic development plan filed suit challenging New London’s legal authority to take their homes. The trial court issued an injunction preventing New London from taking certain of the properties but allowing others to be taken. The appellate court found for New London on all the claims, and the landowners (petitioners) appealed.
Judicial Opinion
STEVENS, Justice Two polar propositions are perfectly clear. On the one hand, it has long been accepted that the sovereign may not take the property of A for the sole purpose of transferring it to another private party B, even though A is paid just compensation. On the other hand, it is equally clear that a State may transfer property from one private party to another if future “use by the public” is the purpose of the taking; the condemnation of land for a railroad with common-carrier duties is a familiar example. Neither of these propositions, however, determines the disposition of this case.
The disposition of this case therefore turns on the question whether the City’s development plan serves a “public purpos.
CASE 5.10 FIBREBOARD PAPER PRODUCTS CORP. V. NLRB SUPREME COURT OF.docx
CASE 5.10 FIBREBOARD PAPER PRODUCTS CORP. V. NLRB SUPREME COURT OF THE UNITED STATES, 379 U.S. 203 (1964).
[After receiving union proposals for contract revisions for the benefit of the maintenance workers at the company’s Emeryville, California, plant, the company advised the union that negotiations for a new contract would be pointless because it had definitely decided to contract out the work performed by the employees covered by the agreement upon the expiration of the agreement. The company planned to replace these employees with an independent contractor’s employees and expected that substantial savings would be effected by this contracting-out of the work. The Board ordered the company to reinstate the maintenance operation with the union employees, reinstate the employees with back pay, and fulfill its statutory bargaining obligation. The court of appeals granted the Board’s enforcement petition, and the Supreme Court agreed to hear the case.]
WARREN, C. J.... I. Section 8(a)(5) of the National Labor Relations Act provides that it shall be an unfair labor practice for an employer “to refuse to bargain collectively with the representatives of his employees.” Collective bar- gaining is defined in Section 8(d)
as the performance of the mutual obligation of the employer and the representative of the employees to meet at reasonable times and confer in good faith with respect to wages, hours, and other terms and conditions of employment.
“Read together, these provisions establish the obligation of the employer and the representative of its employees to bargain with each other in good faith with respect to ‘wages, hours, and other terms and conditions of employment....’ The duty is limited to those subjects, and within that area neither is legally obligated to yield. Labor Board v. American Ins. Co., 343 U.S. 395. As to other matters, however, each party is free to bargain or not to bargain....” Labor Board v. Wooster Div. of Borg-Warner Corp., 356 U.S. 342, 349. Because of the limited grant of certiorari, we are concerned here only with whether the subject upon which the employer allegedly refused to bargain— contracting out of plant maintenance work previously performed by employees in the bargaining unit, which the employees were capable of continuing to perform—is covered by the phrase “terms and conditions of employment” within the meaning of Section 8(d).
The subject matter of the present dispute is well within the literal meaning of the phrase “terms and conditions of employment.”
As the Court of Appeals pointed out, it is not necessary that it be likely or probable that the union will yield or supply a feasible solution but rather that the union be afforded an opportunity to meet management’s legitimate complaints that its maintenance was unduly costly.
We are thus not expanding the scope of mandatory bargaining to hold, as we do now, that the type of “contracting out” involved in this case—the replacement of employees in the exi.
Case 4 The McDonald’s China Food Supplier Scandal1. What we.docx
Case 4:
The McDonald’s China Food Supplier Scandal
1. What were the root causes for Husi’s misbehavior?
2. What are the major challenges faced by the multinationals such as McDonald’s in supply chain management in China?
3. Should McDonald’s be held responsible for the scandal? How could McDonald’s avoid similar situations from happening again?
4. Should OSI be held responsible for the scandal? What should OSI do to prevent similar situations from happening again?
.
Case 3 Neesha Wilson Phoenix Rising Risks, Protective Factors, and.docx
Case 3 Neesha Wilson Phoenix Rising Risks, Protective Factors, and Psychological Well-Being
Neesha Wilson, a 10-year-old African American girl, was referred for assessment to the school psychologist as a result of a child study team meeting held at the school in May. Presenting problems included poor school progress and escalating behavioral concerns. It was the school’s impression that Neesha might qualify for special education assistance as a child with an emotional disorder. Currently, Neesha has an older brother, Tyrone, who is attending an alternate school program for children and youth with severe emotional disturbance.
Developmental History/Family Background
The school social worker completed Neesha’s initial work-up just prior to the end of the academic term; intake information is summarized as follows:
Neesha lives with her 15-year-old brother, Tyrone, and her mother in a two-bedroom apartment. The social worker described the apartment as tiny but very well kept. Neesha has her own bedroom, and Tyrone sleeps on the couch, which folds out into a bed. The social worker noted that it was difficult to book an appointment with Mrs. Wilson, who was reportedly working two jobs: cleaning offices and working as a hairstylist. Mrs. Wilson graduated from hairstylist classes last year. Although her career as a hairstylist has a lot of potential, she is only beginning to develop clientele. She also works part time cleaning offices. Despite the lack of financial resources, the children were clean, well dressed, and did not miss any meals. The children were on the free-lunch program at the schools. According to Mrs. Wilson, Neesha’s early history was unremarkable and motor and language milestones developed on schedule.
An immediate concern of the social worker’s centered on who cared for the children when their mother, Tanya, had to work evenings cleaning offices. Tanya stated that it was not a problem for her because she would either send the children to her sister’s apartment a few blocks away, or have a cousin who lived in the building check in on the kids. Also, Tyrone was 15, so he was capable of watching his sister, although she preferred to have an adult nearby, given Tyrone’s behavior problems.
Neesha’s mother described her as an easy baby and said that she never really had any problems with her. She added that it was Tyrone who was giving her all the problems, not Neesha. The family had struggled since her husband, Walt, left the family about 3 years ago, when Neesha was in Grade 1. In the past two years, Walt has had virtually no contact with the children. He moved in with his girlfriend and their one-year-old baby and recently moved to another state. Neesha was very upset with the marriage breakdown and misses her father very much. Neesha visited with her dad and his new family, initially, but was very disappointed that the visits were neither consistent nor more frequent. Neesha did not like Walt’s girlfriend and felt that her father wa.
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BUS 640 Become Exceptional--bus640.com
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Week 1
Problem 1:
A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump sum of $12 million in Year 0 (the current year), or in parts, in which $7 million can be provided at the end of Year 1, and another $7 million can be provided at the end of Year 2.
Question 1.Which of the following is considered to be an advantage.docx
Question 1.Which of the following is considered to be an advantage of using both nonfinancial and financial information in the balanced scorecard? (Points : 2)
Nonfinancial information is most helpful in analyzing a company's past performance, while financial information is most useful in evaluating potential future performance.
Nonfinancial information provides the short-term perspective while financial information provides the long-term perspective of performance.
Nonfinancial information reflects the company's current and potential competitive advantage, while financial information tends to focus on a firm's achieved financial performance.
Nonfinancial information should be included with financial information because it is more reliable than financial information.
Question 2.Over the past several years it has become increasingly important for firms to improve achievement towards their social and environmental responsibilities. What is the best way the management accountant can help the firm improve on sustainability? (Points : 2)
Participate in programs of environmental organizations.
Develop and implement a legal staff and public relations staff for dealing with sustainability issues that may affect the firm.
Develop and implement a sustainability scorecard.
Risk management.
Question 3.The range of the cost driver in which the actual value of the driver is expected to fall is the: (Points : 2)
Actual cost range.
Driver range.
Activity range.
Relevant range.
Question 4.The difference between wholesalers and retailers is: (Points : 2)
Wholesalers are merchandisers that sell directly to customers whereas retailers are merchandisers that sell to other merchandisers.
Wholesalers are merchandisers that sell to other merchandisers whereas retailers are merchandisers that sell directly to consumers.
Wholesalers are merchandisers that sell directly to the government whereas retailers are merchandisers that sell to other merchandisers.
Wholesalers are merchandisers that sell directly to customers whereas retailers are merchandisers that sell directly to the government.
Question 5.In a local factory, employees are rewarded for finding new and better ways of changing the way they work. This company is motivating its employees to use what management technique? (Points : 2)
Benchmarking.
Activity-Based Costing.
Theory of Constraints.
Continuous Improvement.
Total Quality Management.
Question 6.Assume the following information pertaining to Moonbeam Company:
Beginning Finished Goods Inventory = $130,000
Ending Finished Goods Inventory = $124,000
Beginning WIP Inventory = $85,000
Ending WIP Inventory = $104,000
Beginning Direct Materials = $117,000
Ending Direct Materials = $130,000
Costs incurred during the period are as follows:
Total Manufacturing Costs = $896,000
Factory Overhead = $199,000
...
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A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump sum of $12 million in Year 0 (the current year), or in parts, in which $7 million can be provided at the end of Year 1, and another $7 million can be provided at the end of Year 2.
Describe your answer for each item below
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Mid-Term AssignmentWritten assignment (essay and calculations)
Mid-Term Assignment
Written assignment (essay and calculations)
Activity brief
BCO322 – Budgeting and Control
Online campus
Professor: Senen Garcia | [email protected]
Description
Your knowledge will be tested on the content of week 1 to 6 of the course.
Format
This activity must meet the following formatting requirements:
· Font size 12
· 1200 - 2200 words
· Harvard Referencing System
Due date
Date: Monday 15 March 2021
Time: 14:00 CET
Weight towards final grade
This activity has a weight of 40% towards the final grade.
Learning outcomes
· Outcome One: Classification of costs
· Outcome Two: Cost of Finished Goods
· Outcome Three: Cost of Goods Sold
· Outcome Four: Job order and process costing
· Outcome Five: Cost Volume Profit Analysis-Cost per unit
· Outcome Six: Cost Volume Profit Analysis-Breakeven Analysis
· Outcome Seven:Cost Volume Profit Analysis-Margin of Safety
· Outcome Eight:Cost Volume Profit Analysis-operating income with different volumes
Assessment criteria
· Answers should be clear and well presented (Provide spacing between paragraphs, number your questions correctly)
· Remember to in-text reference and provide your referencing at the end.
· Referencing should be Harvard Style
· Show all calculations
· Cannot submit photos. May use MS Word, MS Excel, Adobe Acrobat, or similar software.
Questions:
QUESTION 1
1.1. Classification of costs
Using the code letters below, indicate in the space provided how each of the following costs should be classified for a pen manufacturing company:
Costs
____ (a) Property tax on the factory building.
____ (b) The chief financial officer's salary.
____ (c) Plastic used to manufacture pens.
____ (d) Janitors at the factory.
____ (e) Manufactured pens waiting to be sold to customers.
____ (f) Advertising logos.
____ (g) Partially completed pens.
QUESTION 2
2. The following information has been taken from the perpetual inventory system of Imperial Mfg. Co. for the month ended September 30:
2.1. What does the total amount of inventory to be included in Imperial's September 30th balance sheet amounts to:
2.2. What are the Total manufacturing costs charged (debited) to Work in Process during September:
2.3. Calculate the cost of finished goods manufactured in September
2.4. Calculate the cost of goods sold in September:
QUESTION 3
3.1. There are two distinct types of cost accounting systems: job order costing systems and process costing systems. How does management decide whether to use a job order costing system or a process costing system in any given manufacturing situation? Explain briefly.
3.2. Job order cost system
Century Pools designs and builds custom pools and spas to the customer's order and uses a job order system. The predetermined overhead rate for the current year is 60% of direct labor cost.
At the end of the current year, Century Pools' direct labor cost totaled $170,000 and actual overhead amounted to $105,000.
A pool built for F. Becker required $32 ...
eBookScattergraph, High-Low Method, and Predicting Cost for a Di
eBook
Scattergraph, High-Low Method, and Predicting Cost for a Different Time Period from the One Used to Develop a Cost Formula
Farnsworth Company has gathered data on its overhead activities and associated costs for the past 10 months. Tracy Heppler, a member of the controller's department, has convinced management that overhead costs can be better estimated and controlled if the fixed and variable components of each overhead activity are known. One such activity is receiving raw materials (unloading incoming goods, counting goods, and inspecting goods), which she believes is driven by the number of receiving orders. Ten months of data have been gathered for the receiving activity and are as follows:
Month
Receiving Orders
Receiving Cost
1
1,000
$18,000
2
700
15,000
3
1,500
28,000
4
1,200
17,000
5
1,300
25,000
6
1,100
21,000
7
1,600
29,000
8
1,400
24,000
9
1,700
27,000
10
900
16,000
Required:
1. On your own paper, prepare a scattergraph based on the 10 months of data. Based on this, does the relationship appear to be linear?
2. Using the high-low method, select a cost formula for the receiving activity.
Using the cost formula, what is the predicted cost of receiving for a month in which 1,450 receiving orders are processed?
$fill in the blank 3
3. Prepare a cost formula for the receiving activity for a quarter. Based on this formula, what is the predicted cost of receiving for a quarter in which 4,650 receiving orders are anticipated?
$fill in the blank 4
Prepare a cost formula for the receiving activity for a year. Based on this formula, what is the predicted cost of receiving for a year in which 18,000 receiving orders are anticipated?
$fill in the blank 5
eBook
Method of Least Squares, Predicting Cost for Different Time Periods from the One Used to Develop a Cost Formula
Farnsworth Company has gathered data on its overhead activities and associated costs for the past 10 months. Tracy Heppler, a member of the controller's department, has convinced management that overhead costs can be better estimated and controlled if the fixed and variable components of each overhead activity are known. One such activity is receiving raw materials (unloading incoming goods, counting goods, and inspecting goods), which she believes is driven by the number of receiving orders. Ten months of data have been gathered for the receiving activity and are as follows:
Month
Receiving Orders
Receiving Cost
1
1,000
$18,000
2
700
15,000
3
1,500
28,000
4
1,200
17,000
5
1,300
25,000
6
1,100
21,000
7
1,600
29,000
8
1,400
24,000
9
1,700
27,000
10
900
16,000
Assume that Tracy has used the method of least squares on the receiving data and has gotten the following results:
Intercept
3,212
Slope
15.15
Required:
1. Using the results from the method of least squares, what is the cost formula for the receiving activity?
2. Using the cost formula, what is the predicted cost of receiving for a month ...
1 University of Leeds School of Computing Proced.docx
1
University of Leeds School of Computing
Procedural Programming COMP1711
Semester 1, 2019-2020
Coursework 1
40 Marks
(20% of the total module marks)
Submission Deadline
Your coursework must be uploaded to Minerva before
10am on Friday 25/10/2019
Late Penalties
5% will be deducted from your overall mark for every late day
1 Skills Tested
This coursework will test your ability to write a C program that correctly uses variables, expressions,
assignment, conditional execution (the ‘if’ statement), and iteration (the ‘while’ or ‘for’ loops). It will
also test your ability to write well-structured C programs with correct indentation of statements.
Finally, you need to show that you are able to use comments to explain how your program works.
2 The Brief
You will write a program for an energy provider company. The program computes and prints quarterly
electricity bills for different customers. It also computes and prints the quarterly profit of the
company.
3 The Details
An energy provider company needs a program to compute and print electricity bills. The program
takes as input the quarterly electricity consumption of a customer in kilowatt-hours (kWh) then
computes and prints the bill on the screen.
The company supplies electricity to two types of customers:
1. Domestic customers.
2. Business customers.
The tariff (price/unit energy) that the company charges for electricity:
• £0.65/kWh for domestic customers.
• £1.04/kWh for business customers.
Business customers are given a 10% discount on the cost of consumed electricity if their quarterly
2
consumption is above 5000 kWh.
In addition to the cost of consumed electricity, customers must also pay a standing charge to cover
transmission and operational costs. The standing charge is:
• £0.30/day for domestic customers.
• £0.96/day for business customers.
For simplicity, we will assume that a quarter has exactly 91 days.
Customers must also pay VAT (Value Added Tax) on the total amount of charges. The current VAT
rates are:
• 5% for domestic customers.
• 20% for business customers.
However, if the quarterly consumption of a business customer is less than 1000kWh, they pay a
reduced VAT at 5%.
Finally, business customers must also pay a Climate Change Levy (CLL) at £0.00847/kWh.
3.1 Examples
Here are some examples of how to compute bills for both types of customers.
Example 1. A domestic customer consumed 300kWh in one quarter:
Electricity cost 300 * 0.65 = £195.00
Standing charge (91 days) 91 * 0.30 = £27.30
Total charges 195.00 + 27.3 = £222.30
VAT at 5% (on £222.30) 222.30 * 0.05 = £11.115
Amount due (rounded to nearest penny) £233.42
Example 2. A domestic customer consumed 0kWh in one quarter:
Electricity cost 0 * 0.65 = £0.00
Standing charge (91 days) 91 * 0.30 = £27.30
Total charges 0.00 + 27.3 = £27.30
VAT at 5% (on £27.30) 27.3 ...
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CASE 6B – CHESTER & WAYNE Chester & Wayne is a regional .docx
CASE 6B – CHESTER & WAYNE
Chester & Wayne is a regional food distribution company. Mr. Chester, CEO, has asked your
assistance in preparing cash-flow information for the last three months of this year. Selected
accounts from an interim balance sheet dated September 30, have the following balances:
Cash $142,100 Accounts payable $354,155
Marketable securities 200,000 Other payables 53,200
Accounts receivable $1,012,500
Inventories 150,388
Mr. Wayne, CFO, provides you with the following information based on experience and
management policy. All sales are credit sales and are billed the last day of the month of sale.
Customers paying within 10 days of the billing date may take a 2 percent cash discount. Forty
percent of the sales is paid within the discount period in the month following billing. An
additional 25 percent pays in the same month but does not receive the cash discount. Thirty
percent is collected in the second month after billing; the remainder is uncollectible. Additional
cash of $24,000 is expected in October from renting unused warehouse space.
Sixty percent of all purchases, selling and administrative expenses, and advertising expenses is
paid in the month incurred. The remainder is paid in the following month. Ending inventory is
set at 25 percent of the next month's budgeted cost of goods sold. The company's gross profit
averages 30 percent of sales for the month. Selling and administrative expenses follow the
formula of 5 percent of the current month's sales plus $75,000, which includes depreciation of
$5,000. Advertising expenses are budgeted at 3 percent of sales.
Actual and budgeted sales information is as follows:
Actual: Budgeted:
August $750,000 October $826,800
September 787,500 November 868,200
December 911,600
January 930,000
The company will acquire equipment costing $250,000 cash in November. Dividends of $45,000
will be paid in December.
The company would like to maintain a minimum cash balance at the end of each month of
$120,000. Any excess amounts go first to repayment of short-term borrowings and then to
investment in marketable securities. When cash is needed to reach the minimum balance, the
company policy is to sell marketable securities before borrowing.
The company will acquire equipment costing $250,000 cash in November. Dividends of $45,000
will be paid in December.
The company would like to maintain a minimum cash balance at the end of each month of
$120,000. Any excess amounts go first to repayment of short-term borrowings and then to
investment in marketable securities. When cash is needed to reach the minimum balance, the
company policy is to sell marketable securities before borrowing.
Questions (use of spreadsheet software is recommended):
1. Prepare a cash budget for each month of the fourth quarter and for the quarter in total.
Prepare supporting schedules as needed. (Round all budge.
CASE 9 Bulimia Nervosa Table 9-1 Dx Checklist Bulimia Nervos.docx
"CASE 9 Bulimia Nervosa Table 9-1 Dx Checklist Bulimia Nervosa 1. Repeated binge-eating episodes. 2. Repeated performance of ill-advised compensatory behaviors (e.g., forced vomiting) to prevent weight gain. 3. Symptoms take place at least weekly for a period of 3 months. 4. Inappropriate influence of weight and shape on appraisal of oneself. (Based on APA, 2013.) Rita was a 26-year-old manager of a local Italian restaurant and lived in the same city as her parents. Her childhood was not a happy one. Her parents divorced when she was about 5 years of age. She and her three older brothers remained with their mother, who often seemed overwhelmed with her situation and unable to run the household effectively. Rita would often refer to her childhood as utterly chaotic, as if no one were in charge. Within a 12-month period, 1 percent to 1.5 percent of individuals will meet the diagnostic criteria for bulimia nervosa; at least 90 percent of cases occur in females (APA, 2013). She nevertheless muddled through. When her brothers were finally all off to college or beyond, Rita entered high school, and the household seemed more manageable. Ultimately, she developed a close relationship with her mother, indeed too close, Rita suspected. Her mother seemed like her closest friend, at times the entire focus of her social life. They were both women alone, so to speak, and relied heavily on one another for comfort and support, preventing Rita from developing serious friendships. The two often went shopping together. Rita would give her mother an update on the most recent fashion trends, and her mother would talk to Rita about “how important it is to look good and be put together in this day and age.” Rita didn’t mind the advice, but sometimes she did wonder if her mother kept saying that as a way of telling her that she didn’t think she looked good. Rita later attended a local public college, majoring in business. However, she quit after 3 years to take a job at the restaurant. She had begun working in the restaurant part-time while a sophomore and after 2 years was offered the position of daytime manager. It was a well-paying job, and since her interest was business anyway, Rita figured it made sense to seize an attractive business opportunity. Her mother was not very supportive of her decision to leave college, but Rita reassured her that she intended to go back and finish up after she had worked for a while and saved some money. Just before leaving college, Rita began a serious relationship with a man whom she met at school. Their interest in each other grew, and they eventually got engaged. Everything seemed to be going well when out of the blue, her fiancé’s mental state began to deteriorate. Ultimately he manifested a pattern of schizophrenia and had to be hospitalized. As his impairment extended from days to months and then to more than a year, Rita finally had to end the engagement; she had to pick up the pieces and go on without him. She felt .
Case 9 Bulimia Nervosa in Gorenstein and Comer (2014)Rita was a.docx
Case 9: Bulimia Nervosa in Gorenstein and Comer (2014)
Rita was a 26-year-old manager of a local Italian restaurant and lived in the same city as her parents. Her childhood was not a happy one. Her parents divorced when she was about 5 years of age. She and her three older brothers remained with their mother, who often seemed overwhelmed with her situation and unable to run the household effectively. Rita would often refer to her childhood as utterly chaotic, as if no one were in charge. Within a 12-month period, 1 percent to 1.5 percent of individuals will meet the diagnostic criteria for bulimia nervosa; at least 90 percent of cases occur in females (APA, 2013). She nevertheless muddled through. When her brothers were finally all off to college or beyond, Rita entered high school, and the household seemed more manageable. Ultimately, she developed a close relationship with her mother, indeed too close, Rita suspected. Her mother seemed like her closest friend, at times the entire focus of her social life. They were both women alone, so to speak, and relied heavily on one another for comfort and support, preventing Rita from developing serious friendships. The two often went shopping together. Rita would give her mother an update on the most recent fashion trends, and her mother would talk to Rita about “how important it is to look good and be put together in this day and age.” Rita didn’t mind the advice, but sometimes she did wonder if her mother kept saying that as a way of telling her that she didn’t think she looked good. Rita later attended a local public college, majoring in business. However, she quit after 3 years to take a job at the restaurant. She had begun working in the restaurant part-time while a sophomore and after 2 years was offered the position of daytime manager. It was a well-paying job, and since her interest was business anyway, Rita figured it made sense to seize an attractive business opportunity. Her mother was not very supportive of her decision to leave college, but Rita reassured her that she intended to go back and finish up after she had worked for a while and saved some money. Just before leaving college, Rita began a serious relationship with a man whom she met at school. Their interest in each other grew, and they eventually got engaged. Everything seemed to be going well when out of the blue, her fiancé’s mental state began to deteriorate. Ultimately he manifested a pattern of schizophrenia and had to be hospitalized. As his impairment extended from days to months and then to more than a year, Rita finally had to end the engagement; she had to pick up the pieces and go on without him. She felt as if he had died. A period of psychotherapy helped ease her grief and her adjustment following this tragedy, and eventually she was able to move on with her life and to resume dating again. However, serious relationships eluded her. Rita knew that she was a moody person—she judged people harshly and displayed irrita.
Case 8.1 Pros and Cons of Balkan Intervention59Must the a.docx
Case 8.1 Pros and Cons of Balkan Intervention59
“Must the agony of Bosnia-Herzegovina be regarded, with whatever regrets, as somebody else’s trouble?
We don’t think so, but the arguments on behalf of that view deserve an answer. Among them are the
following:
The Balkan conflict is a civil war and unlikely to spread beyond the borders of the former
Yugoslavia. Wrong. Belgrade has missiles trained on Vienna. Tito’s Yugoslavia claimed, by way of
Macedonia, that northern Greece as far south as Thessaloniki belonged under its sovereignty. Those
claims may return. ‘Civil’ war pitting non-Slavic Albanians against Serbs could spread to Albania,
Turkey, Bulgaria, and Greece.
The United States has no strategic interest in the Balkans. Wrong. No peace, no peace dividend.
Unless the West can impose the view that ethnic purity can no longer be the basis for national
sovereignty, then endless national wars will replace the Cold War. This threat has appeared in
genocidal form in Bosnia. If it cannot be contained here, it will erupt elsewhere, and the Clinton
administration’s domestic agenda will be an early casualty.
If the West intervenes on behalf of the Bosnians, the Russians will do so on behalf of the Serbs, and
the Cold War will be reborn. Wrong. The Russians have more to fear from ‘ethnic cleansing’ than
any people on Earth. Nothing would reassure them better than a new, post-Cold War Western
policy of massive, early response against the persecution of national minorities, including the
Russian minorities found in every post-Soviet republic. The Russian right may favor the Serbs, but
Russian self-interest lies elsewhere.
The Serbs also have their grievances. Wrong. They do, but their way of responding to these
grievances, according to the State Department’s annual human rights report, issued this past week,
‘dwarfs anything seen in Europe since Nazi times.’ Via the Genocide Convention, armed
intervention is legal as well as justified.
The UN peace plan is the only alternative. Wrong. Incredibly, the plan proposes the reorganization
of Bosnia-Herzegovina followed by a cease-fire. A better first step would be a UN declaration that
any nation or ethnic group proceeding to statehood on the principle of ethnic purity is an outlaw
state and will be treated as such. As now drafted, the UN peace plan, with a map of provinces that
not one party to the conflict accepts, is really a plan for continued ‘ethnic cleansing.’”
Case 8.2 Images, Arguments, and the Second Persian Gulf Crisis, 1990–
1991
The analysis of policy arguments can be employed to investigate the ways that policymakers represent or
structure problems (Chapter 3). We can thereby identify the images, or problem representations, that
shape processes of making and justifying decisions. For example, during times of crisis, the images which
United States policymakers have of another country affect deliberations about the use of peacekeeping
and negotiation, the imposition of economic sanctions, o.
CASE 5Business Performance Evaluation Approaches for Thoughtf.docx
CASE 5
Business Performance Evaluation: Approaches for Thoughtful Forecasting
Every day, fortunes are won and lost on the backs of business performance assessments and forecasts. Because of the uncertainty surrounding business performance, the man-ager should appreciate that forecasting is not the same as fortune-telling; unanticipated events have a way of making certain that specific forecasts are never exactly correct. This note purports, however, that thoughtful forecasts greatly aid managers in under-standing the implications of various outcomes (including the most probable outcome) and identify the key bets associated with a forecast. Such forecasts provide the manager with an appreciation of the odds of business success. This note examines principles in the art and science of thoughtful financial fore-casting for the business manager. In particular, it reviews the importance of (1) under-standing the financial relationships of a business enterprise, (2) grounding business forecasts in the reality of the industry and macroenvironment, (3) modeling a forecast that embeds the implications of business strategy, and (4) recognizing the potential for cognitive bias in the forecasting process. The note closes with a detailed example of financial forecasting based on the example of the Swiss food and nutrition com-pany Nestle.
Understanding the Financial Relationships of the Business Enterprise
Financial statements provide information on the financial activities of an enterprise. Much like the performance statistics from an athletic contest, financial statements provide an array of identifying data on various historical strengths and weaknesses
This technical note was prepared by Professor Michael J. Schill. Special thanks go to Vladimir Kolcin for data-collection assistance and to Lee Ann Long-Tyler and Ray Nedzel for technical assistance. Copyright © 2015 by the University of Virginia Darden School Foundation, Charlottesville, VA. All rights reserved. To order copies, send an e-mail to [email protected] No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of the Darden School Foundation.
Part TwoFinancial Analysis and Forecasting
across a broad spectrum of business activities. The income statement (also known as the profit-and-loss statement) measures flows of costs, revenue, and profits over a defined period of time, such as a year. The balance sheet provides a snapshot of business invest-ment and financing at a particular point in time, such as the end of a year. Both state-ments combine to provide a rich picture of a business’s financial performance. The analysis of financial statements is one important way of understanding the mechanics of the systems that make up business operations. Interpreting Financial Ratios Financial ratios provide a useful way to id.
Case 6-2 Not Getting Face Time at Facebook—and Getting the Last La.docx
Case 6-2 Not Getting Face Time at Facebook—and Getting the Last Laugh!
In August 2009, Facebook turned down job applicant Brian Acton, an experienced engineer who had previously worked at Yahoo and Apple. More than 4 years later, Facebook paid him $3 billion to acquire his 20% stake of WhatsApp, a start-up he had cofounded immediately after Facebook rejected his job application.(1) WhatsApp Messenger is a proprietary, cross-platform, instant-messaging subscription service for smartphones and selected feature phones that use the Internet for communication. In addition to text messaging, users can send each other images, video, and audio media messages, as well as their location using integrated mapping features.(2) How could Facebook, a highly successful firm, have made such a drastic mistake?
Back in 2009, Brian Acton was a software engineer who was out of work for what seemed like a very long time. He believed he had what it took to make a difference in the industry, but his career did not work out as planned. Even though he spent years at Apple and Yahoo, he got rejected many times by Twitter and Facebook.(3) Acton described the details of the interview process that he failed to do well in as follows:
First of all, interviewing a person for a job that requires technical skills is difficult for both the interviewer and the interviewee. Facebook is a highly desirable firm to work for and requires the best skills and talents from all of their potential employees. It is therefore not surprising that the selection process rivals, if not tops, any company in the industry. The process starts with an email or a phone call from a recruiter in response to an online application or [to] a recommendation from a friend who may work for Facebook. Sometimes, in the initial chat online, timed software coding challenges are set to find the best performers. If this chat goes well, an applicant will go on to the next level—an initial in-person interview or phone screening.(4)
In this next hurdle, the applicant will have a 45-minute chat with a fellow engineer/potential coworker, [with] whom he or she shares the same area of expertise. They will tell you about their job and what their role is in Facebook; then they ask about the applicant’s résumé, motivation, and interests. Additionally, the applicant will be tested about his or her technical skills, coding exercises, and programming abilities.(5)
If successful, the applicant will be invited for back-to-back interviews. This part of the process is very grueling and stressful since all the interviews take place throughout a single day. The candidate will also be asked to manually write a program on a whiteboard to make sure that the applicant is knowledgeable about program writing. The goal in this final step is to see how one approaches a problem and comes up with a solution [that] is simple enough to solve in 10–30 minutes and can be easily explained.(6)
As a potential coworker, the applicant will be te.
Case 6.4 The Case of the Poorly Performing SalespersonEd Markham.docx
Case 6.4 The Case of the Poorly Performing Salesperson
Ed Markham, the African American sales manager at WCTV, is considering how to handle a problem with one of his salespersons, Jane Folsom, who is White. Ed was promoted to sales manager three months ago after working at WCTV for 2 years. He earned his promotion by exceeding sales goals every month after his first on the job. He developed a research report using secondary data like MRI and the Lifestyle Market Analyst to analyze the market. His former boss praised the report, gave a copy to all salespersons, and included a summary of it in the rate card. When his former boss left for a new job in a larger market, he recommended Ed as his replacement.
Jane has been a salesperson at WCTV for 2 years. For most of that time, she has exceeded sales quotas about as much as Ed had. For the past 3 months, she has not met sales quotas. After his second month as sales manager, Ed talked to Jane about her performance. She attributed her below-average performance to the closing of a major advertiser, Anthony’s Fashions. This local clothing store closed because several major retailers, including JC Penney and Dillard’s, had opened at the local mall.
Ed listened to Jane’s explanation and then suggested ways to obtain new clients. He asked Jane whether she had set personal sales goals, set up a prospect file of new and inactive advertisers as well as existing businesses that were potential clients, come up with research and data on the market to use in presentations and reports to clients, come up with new ideas or opportunities to advertise for clients, or asked her clients about their needs and goals (Shaver, 1995). Jane said no, she simply telephoned or visited her clients regularly to see if they wanted to run ads.
Ed also asked Jane why several of her clients had not paid their bills. He explained that a salesperson must check out a client’s ability to pay before running a schedule. Jane replied that she was not aware of that fact and that no one had ever trained her to sell. She had sold time for a radio station before, but that was all the training she had. Ed’s predecessor had just hired her and cut her loose.
Ed gave Jane a memo after their first meeting a month ago asking her to focus on sales training for the next month. First, she should read Shaver’s (1995) Making the Sale! How to Sell Media With Marketing. He gave her a copy, told her to read it, and asked her to contact him if she had any questions. After reading the book, he told her that she should establish written personal sales goals, begin to develop a prospect file (with two new and two inactive clients), and develop three ideas for new advertising opportunities for existing clients. In the memo, Ed told Jane that he would not hold her to sales performance standards that month. He wanted Jane to focus on doing the background work he assigned to help her improve her future sales performance.
At the meeting a month later, Ed discovered.
Case 5.6Kelo v City of New London545 U.S. 469 (2005)Ye.docx
Case 5.6
Kelo v City of New London
545 U.S. 469 (2005)
Yes, Actually, They Can Take That Away From You
Facts
In 1978, the city of New London, Connecticut, undertook a redevelopment plan for purposes of creating a redeveloped area in and around the existing park at Fort Trumbull. The plan sought to develop the related ambience a state park should have, including the absence of pink cottages and other architecturally eclectic homes. Part of the redevelopment plan was the city’s deal with Pfizer Corporation for the location of its research facility in the area. The preface to the city’s development plan included the following statement of goals and purpose:
To create a development that would complement the facility that Pfizer was planning to build, create jobs, increase tax and other revenues, encourage public access to and use of the city’s waterfront, and eventually “build momentum” for the revitalization of the rest of the city, including its downtown area.
The affected property owners, including Susette Kelo, live in homes and cottages (15 total) located in and around other existing structures that would be permitted to stay in the area designated for the proposed new structures (under the city’s economic development plan) that would be placed there primarily by private land developers and corporations. The city was assisted by a private, nonprofit corporation, the New London Development Corporation (NLDC), in the development of the economic plan and piloting it through the various governmental processes, including that of city council approval. The central focus of the plan was getting Pfizer to the Fort Trumbull area (where the homeowners and their properties were located) with the hope of a resulting economic boost that such a major corporate employer can bring to an area.
Kelo and the other landowners whose homes would be razed to make room for Pfizer and the accompanying and resulting economic development plan filed suit challenging New London’s legal authority to take their homes. The trial court issued an injunction preventing New London from taking certain of the properties but allowing others to be taken. The appellate court found for New London on all the claims, and the landowners (petitioners) appealed.
Judicial Opinion
STEVENS, Justice Two polar propositions are perfectly clear. On the one hand, it has long been accepted that the sovereign may not take the property of A for the sole purpose of transferring it to another private party B, even though A is paid just compensation. On the other hand, it is equally clear that a State may transfer property from one private party to another if future “use by the public” is the purpose of the taking; the condemnation of land for a railroad with common-carrier duties is a familiar example. Neither of these propositions, however, determines the disposition of this case.
The disposition of this case therefore turns on the question whether the City’s development plan serves a “public purpos.
CASE 5.10 FIBREBOARD PAPER PRODUCTS CORP. V. NLRB SUPREME COURT OF.docx
CASE 5.10 FIBREBOARD PAPER PRODUCTS CORP. V. NLRB SUPREME COURT OF THE UNITED STATES, 379 U.S. 203 (1964).
[After receiving union proposals for contract revisions for the benefit of the maintenance workers at the company’s Emeryville, California, plant, the company advised the union that negotiations for a new contract would be pointless because it had definitely decided to contract out the work performed by the employees covered by the agreement upon the expiration of the agreement. The company planned to replace these employees with an independent contractor’s employees and expected that substantial savings would be effected by this contracting-out of the work. The Board ordered the company to reinstate the maintenance operation with the union employees, reinstate the employees with back pay, and fulfill its statutory bargaining obligation. The court of appeals granted the Board’s enforcement petition, and the Supreme Court agreed to hear the case.]
WARREN, C. J.... I. Section 8(a)(5) of the National Labor Relations Act provides that it shall be an unfair labor practice for an employer “to refuse to bargain collectively with the representatives of his employees.” Collective bar- gaining is defined in Section 8(d)
as the performance of the mutual obligation of the employer and the representative of the employees to meet at reasonable times and confer in good faith with respect to wages, hours, and other terms and conditions of employment.
“Read together, these provisions establish the obligation of the employer and the representative of its employees to bargain with each other in good faith with respect to ‘wages, hours, and other terms and conditions of employment....’ The duty is limited to those subjects, and within that area neither is legally obligated to yield. Labor Board v. American Ins. Co., 343 U.S. 395. As to other matters, however, each party is free to bargain or not to bargain....” Labor Board v. Wooster Div. of Borg-Warner Corp., 356 U.S. 342, 349. Because of the limited grant of certiorari, we are concerned here only with whether the subject upon which the employer allegedly refused to bargain— contracting out of plant maintenance work previously performed by employees in the bargaining unit, which the employees were capable of continuing to perform—is covered by the phrase “terms and conditions of employment” within the meaning of Section 8(d).
The subject matter of the present dispute is well within the literal meaning of the phrase “terms and conditions of employment.”
As the Court of Appeals pointed out, it is not necessary that it be likely or probable that the union will yield or supply a feasible solution but rather that the union be afforded an opportunity to meet management’s legitimate complaints that its maintenance was unduly costly.
We are thus not expanding the scope of mandatory bargaining to hold, as we do now, that the type of “contracting out” involved in this case—the replacement of employees in the exi.
Case 4 The McDonald’s China Food Supplier Scandal1. What we.docx
Case 4:
The McDonald’s China Food Supplier Scandal
1. What were the root causes for Husi’s misbehavior?
2. What are the major challenges faced by the multinationals such as McDonald’s in supply chain management in China?
3. Should McDonald’s be held responsible for the scandal? How could McDonald’s avoid similar situations from happening again?
4. Should OSI be held responsible for the scandal? What should OSI do to prevent similar situations from happening again?
.
Case 3 Neesha Wilson Phoenix Rising Risks, Protective Factors, and.docx
Case 3 Neesha Wilson Phoenix Rising Risks, Protective Factors, and Psychological Well-Being
Neesha Wilson, a 10-year-old African American girl, was referred for assessment to the school psychologist as a result of a child study team meeting held at the school in May. Presenting problems included poor school progress and escalating behavioral concerns. It was the school’s impression that Neesha might qualify for special education assistance as a child with an emotional disorder. Currently, Neesha has an older brother, Tyrone, who is attending an alternate school program for children and youth with severe emotional disturbance.
Developmental History/Family Background
The school social worker completed Neesha’s initial work-up just prior to the end of the academic term; intake information is summarized as follows:
Neesha lives with her 15-year-old brother, Tyrone, and her mother in a two-bedroom apartment. The social worker described the apartment as tiny but very well kept. Neesha has her own bedroom, and Tyrone sleeps on the couch, which folds out into a bed. The social worker noted that it was difficult to book an appointment with Mrs. Wilson, who was reportedly working two jobs: cleaning offices and working as a hairstylist. Mrs. Wilson graduated from hairstylist classes last year. Although her career as a hairstylist has a lot of potential, she is only beginning to develop clientele. She also works part time cleaning offices. Despite the lack of financial resources, the children were clean, well dressed, and did not miss any meals. The children were on the free-lunch program at the schools. According to Mrs. Wilson, Neesha’s early history was unremarkable and motor and language milestones developed on schedule.
An immediate concern of the social worker’s centered on who cared for the children when their mother, Tanya, had to work evenings cleaning offices. Tanya stated that it was not a problem for her because she would either send the children to her sister’s apartment a few blocks away, or have a cousin who lived in the building check in on the kids. Also, Tyrone was 15, so he was capable of watching his sister, although she preferred to have an adult nearby, given Tyrone’s behavior problems.
Neesha’s mother described her as an easy baby and said that she never really had any problems with her. She added that it was Tyrone who was giving her all the problems, not Neesha. The family had struggled since her husband, Walt, left the family about 3 years ago, when Neesha was in Grade 1. In the past two years, Walt has had virtually no contact with the children. He moved in with his girlfriend and their one-year-old baby and recently moved to another state. Neesha was very upset with the marriage breakdown and misses her father very much. Neesha visited with her dad and his new family, initially, but was very disappointed that the visits were neither consistent nor more frequent. Neesha did not like Walt’s girlfriend and felt that her father wa.
Case 48 Sun Microsystems Done by Nour Abdulaziz Maryam .docx
Case 48: Sun Microsystems
Done by: Nour Abdulaziz
Maryam Barifah
Shrouq Al-Jaadi
Balqees Mekhalfi
Yara El-Feki
Introduction
•In 2009, Oracle was planning to acquire Sun Microsystems.
•This acquisition would allow Oracle;
•to further diversify their brand, customers and acquire various new platforms that would be added to their portfolio such as MySQL, Solaris and Java.
•Oracle originally placed an offer of $9.50 per share price which is considerably higher than Sun Microsystem’s price that is $6.69.
•This will cut the production costs and make the company more efficient throughout all the value chain.
•Oracle aimed to capitalize on Sun Microsystem’s decline by getting particular assets or the whole company at the deflated price.
Is Sun Microsystems a good strategic fit for Oracle? Should Oracle acquire Sun Microsystems?
- as it will allow them to achieve their vision of becoming the Apple of the software industry.
- it will allow the company to deliver high-quality customer products by combining both hardware and software components, hence reducing the consumer setup process.
Continue
It will provide Oracle with the needed expansion.
-This acquisition fits Oracle’s overall strategy which is to improve through acquiring and effectively integrating other companies
Worth of Sun Microsystems and Valuation Approaches
To know how much Sun Microsystems worth, we must find the Stand Alone Value of the company.
The Stand Alone value represents the present value of Sun Microsystem individually before factoring the synergy that would be created when Oracle acquires Sun.
Another method is the value of Sun Microsystem with synergies, which after being acquired by Oracle, must be found. This is done to see whether or not the acquisition was a proper strategic decision or not
Another method of valuing the Sun Microsystem is through the comparative company analysis (CCA). That is done through the thorough assessment of rival and peer businesses of similar size and industry.
Finally, the acquisition price, which is the price that is paid to the target when it is first acquired, is also used as a separate method of valuation. The value of the acquisition price ranges between the values of the stand-alone and the synergies.
USING THE DCF
To be able to find the values of both, the Stand Alone and the synergies, we have decided the best way to do so is by calculating the discounted cash flow (DCF) by using the multiples and the perpetuity growth methods and finding the average of both.
DCF Using Multiples MethodDCF Using Perpetuity Growth MethodIt does not consider long-term growth rate or the economics of business.This method seems inaccurate as the company assumes a certain growth rate will remains the same 2014 onwards (forever) which is unrealistic.It is considered a challenging method to use as it is very difficult to identify truly comparable companies.
USING THE WACC
The weig.
CASE 42 Myasthenia Gravis The immune response turns agai.docx
CASE 42 Myasthenia Gravis
The immune response turns against the host.
The specific adaptive immune response can, in rare instances, be mounted
against self antigens and cause autoimmune disease. Injury to body tissues
can result from antibodies directed against cell-surface or extracellular-matrix
molecules, from antibodies bound to circulating molecules that deposit as
immune complexes, or from clones of T cells that react with self antigens. A
special class of autoimmune disease is caused by autoantibodies against cell
surface receptors (Fig. 42.1). Graves' disease and myasthenia gravis are two
well-studied examples . Graves' disease is caused by autoantibodies against
the receptor on thyroid cells for thyroid-stimulating hormone (TSH), secreted
by the pituitary gland. In this disease, autoantibody binds to the TSH recep
tor; like TSH, it stimulates the thyroid gland to produce thyroid hormones.
In myasthenia gravis, the opposite effect is observed: antibodies against the
acetylcholine receptor at the neuromuscular junction impede the binding of
acetylcholine and stimulate internalization of the receptor, thereby block
ing the t ransmission of nerve impulses by acetylcholine (Fig. 42.2). In addi
tion, the presence of autoantibodies at the neuromuscular junction initiates
complement-mediated lysis ofthe muscle endplate and damages the muscle
membrane.
Myasthenia gravis means severe (gravis) muscle (my) weakness (asthenia).
This disease was first identified as an autoimmune disease when an immun
ologist immunized rabbits with purified acetylcholine receptors to obtain
antibodies against this receptor. He noticed that the rabbits developed floppy
ears, like the droopy eyelids (ptosis) that are the most characteristic symptom
of myasthenia gravis in humans. Subsequently, patients with this disease
were found to have antibodies against the acetycholine receptor. In addition,
pregnant women with myasthenia gravis transfer the disease to their newborn
infants. As IgG is the only maternal serum protein that crosses the placenta
fro m mother to fetus, neonatal myasthenia gravis is clear evidence that
myasthenia gravis is caused by an anti-IgG antibody. More recently, patients
with myasthenia gravis have been identified who have autoantibodies against
muscle-specific kinase (MUSK) rather than the acetylcholine receptor.
MUSK is a tyrosine kinase receptor involved in clustering acetylcholine
receptors; therefore, these autoantibodies also inhibit signaling through the
neuromuscular junction.
Topics bearing on
this case:
Humoral autoimmunity
Transfer of maternal
antibodies
Mechanisms for
breaking tolerance
This case was prepared by RaifGeha , MD, in collaboration with Janet Chou, MD.
~ Case 42: Myasthenia Gravis
Fig. 42.1 Autoimmune diseases caused
by antibody against surface or matrix
antigens. These are known as type II
autoimmune diseases. Damage by
IgE-mediated responses (type I) does no.
Case 4 JetBlue Delighting Customers Through Happy JettingIn the.docx
Case 4 JetBlue: Delighting Customers Through Happy Jetting
In the early years, JetBlue was a thriving young airline with a strong reputation for outstanding service. In fact, the low-fare airline referred to itself as a customer service company that just happened to fly planes. But on a Valentine’s Day, JetBlue was hit by the perfect storm, literally, of events that led to an operational meltdown. One of the most severe storms of the decade covered JetBlue’s main hub at New York’s John F. Kennedy International Airport with a thick layer of snow and ice. JetBlue did not have the infrastructure to deal with such a crisis. The severity of the storm, coupled with a series of poor management decisions, left JetBlue passengers stranded in planes on the runway for up to 11 hours. Worse still, the ripple effect of the storm created major JetBlue flight disruptions for six more days. Understandably, customers were livid. JetBlue’s efforts to clean up the mess following the six-day Valentine’s Day nightmare cost over $30 million in overtime, flight refunds, vouchers for future travel, and other expenses. But the blow to the company’s previously stellar customer-service reputation stung far more than the financial fallout. JetBlue became the butt of jokes by late night talk show hosts. Some industry observers even predicted that this would be the end
of JetBlue. But just three years later, the company is not only still flying, it is growing, profitable, and hotter than ever. During a serious economic downturn competing airlines were cut routes, retiring aircraft, laying off employees, and lost money. JetBlue added planes, expanded into new cities, hired thousands of new employees, and turning profits.
Truly Customer Focused What’s the secret to JetBlue’s success? Quite simply, it’s an obsession with making sure that every customer experience lives up to the company slogan, “Happy Jetting.” Lots of companies say they focus on customers. But at JetBlue, customer well-being is ingrained in the culture. From the beginning, JetBlue set out to provide features that would delight customers. For example, most air travelers expect to be squashed when flying coach. But JetBlue has configured its seats with three more inches of legroom than the average airline seat. That may not sound like much. But those three inches allow six-foot three-inch Arianne Cohen, author of The Tall Book: A Celebration of Life from on High, to stretch out and even cross her legs. If that’s not enough, for as little as $10 per flight, travelers can reserve one of JetBlue’s “Even More Legroom” seats, which offer even more space and a flatter recline position. Add the fact that every JetBlue seat is well padded and covered in leather, and you already have an air travel experience that rivals first-class accommodations (something JetBlue doesn’t offer). Food and beverage is another perk that JetBlue customers enjoy. The airline doesn’t serve meals, but it offers the best selection of free.
Case 4-2 Hardee TransportationThe Assignment Answer the four .docx
Case 4-2 Hardee Transportation
The Assignment: Answer the four (4) questions at the end of Case 4-2
Resources: Course Textbook, Appendix 4B, Table 4B-1, Attached worksheet (Word or Excel format)
Acceptable Length:
Show your work for solution to questions 1 and 2
. Well-written responses to question 3 and 4.
Formatting Requirements:
Enter your name and date
Provide well-structured solutions/answers- incomplete answers will receive partial credit
Show your work
2. Answer case questions,
using the attached word template or excel document
. Complete assignment and submit as an attachment using the assignment link when finished.
.
Case 3-8 Accountant takes on Halliburton and Wins!1. Descri.docx
Case 3-8 Accountant takes on Halliburton and Wins!
1. Describe the inadequacies in the corporate governance system at Halliburton.
2. Consider the role of KPMG in the case with respect to the accounting and auditing issues. How did the firms’ actions relate to the ethical and professional expectations for CPAs by the accounting profession?
3. The Halliburton case took place before the Dodd-Frank Financial Reform Act was adopted by Congress. Assume Dodd-Frank had been in effect and Menendez decided to inform the SEC under Dodd-Frank rather than SOX because it had been more than 180 days since the accounting violation had occurred. Given the facts of the case would Menendez have qualified for whistleblower protection? Explain.
4. Some critics claim that while Menendez’s actions may have been courageous, he harmed others along the way. His family was in limbo for many years and had to deal with the agony of being labeled a whistleblower and disloyal to Halliburton. The company’s overall revenue did not change; a small amount was merely shifted to an earlier period. Halliburton didn't steal any money, they didn't cheat the IRS, they didn't cheat their customers or their employees. In fact, they lessened their cash flows by paying out taxes earlier than they should have under the rules. How do you respond to these criticisms?
.
CASE 3.2 A Shift for Lieutenant Colonel AdamsEAM 751 Chapter.docx
CASE 3.2 A Shift for Lieutenant Colonel Adams
EAM 751 Chapter 3
Working with a partner complete CASE 3.2
Answer the 3 questions at the end of the chapter and submit.
Marketing Management
Fifteenth Edition
Chapter 16
Developing
Pricing Strategies
and Programs
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Learning Objectives
16.1 How do consumers process and
evaluate prices?
16.2 How should a company set prices
initially for products or services?
16.3 How should a company adapt prices
to meet varying circumstances and
opportunities?
16.4 When and how should a company
initiate a price change?
16.5 How should a company respond to a
competitor’s price change?
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Setting the Price
Table 16.2 Steps in Setting a Pricing Policy
1. Selecting the Pricing Objective
2. Determining Demand
3. Estimating Costs
4. Analyzing Competitors’ Costs, Prices, and Offers
5. Selecting a Pricing Method
6. Selecting the Final Price
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Step 1: Selecting the Pricing Objective
• Survival
• Maximum current profit
• Other objectives
• Maximum market share
• Product-quality leadership
• Maximum market skimming
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Step 2: Determining Demand
• Price sensitivity
• Estimating demand curves
– Surveys, price experiments,
& statistical analysis
• Price elasticity of demand
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Figure 16.1 Inelastic And Elastic
Demand
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Price Sensitivity
Table 16.3 Factors That Reduce Price Sensitivity
• The product is more distinctive.
• Buyers are less aware of substitutes.
• Buyers cannot easily compare the quality of substitutes.
• The expenditure is a smaller part of the buyer’s total income.
• The expenditure is small compared to the total cost of the end product.
• Part of the cost is borne by another party.
• The product is used in conjunction with assets previously bought.
• The product is assumed to have more quality, prestige, or exclusiveness.
• Buyers cannot store the product.
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Step 3: Estimating Costs (1 of 3)
• Types of costs and levels of
production
– Fixed vs. variable costs
– Total costs
– Average cost
Figure 16.2 Cost per Unit at Different
Levels of Production per Period
Copyright © 2016, 2012, 2009 Pearson Education, Inc. All Rights Reserved
Step 3: Estimating Costs (2 of 3)
• Accumulated production
– Experience/learning curve
Figure 16.3 Cost per Unit as a Function of Accumulated Production: The
Experience Curve
Copyright © 2016, 2012, 2009 Pearson Educati.
Case 3 Ford’s Pinto Fires The Retrospective View of Ford’s Fiel.docx
Case 3
Ford’s Pinto Fires: The Retrospective View of Ford’s Field Recall Coordinator
Brief Overview of the Ford Pinto Fires
Determined to compete with fuel- efficient Volkswagen and Japanese imports, the Ford Motor Company introduced the subcompact Pinto in the 1971 model year. Lee Iacocca, Ford’s president at the time, insisted that the Pinto weigh no more than 2,000 pounds and cost no more than $2,000. Even with these restrictions, the Pinto met federal safety standards, although some people have argued that strict adherence to the restrictions led Ford engineers to compromise safety. Some 2 million units were sold during the 10- year life of the Pinto.
The Pinto’s major design flaw— a fuel tank prone to rupturing with moderate speed rear- end collisions— surfaced not too long after the Pinto’s entrance to the market. In April 1974, the Center for Auto Safety petitioned the National Highway Traffic Safety Administration (NHTSA) to recall Ford Pintos due to the fuel tank design defect. The Center for Auto Safety’s petition was based on reports from attorneys of three deaths and four serious injuries in moderate- speed rear- end collisions involving Pintos. The NHTSA did not act on this petition until 1977. As a result of tests performed for the NHTSA, as well as the extraordinary amount of publicity generated by the problem, Ford agreed, on June 9, 1978, to recall 1.5 million 1971– 1976 Ford Pintos and 30,000 1975– 1976 Mercury Bobcat sedan and hatchback models for modifications to the fuel tank. Recall notices were mailed to the affected Pinto and Bobcat owners in September 1978. Repair parts were to be delivered to all dealers by September 15, 1978.
Unfortunately, the recall was initiated too late for six people. Between June 9 and September 15, 1978, six people died in Pinto fires after a rear impact. Three of these people were teenage girls killed in Indiana in August 1978 when their 1973 Pinto burst into flames after being rear- ended by a van. The fiery deaths of the Indiana teenagers led to criminal prosecution of the Ford Motor Company on charges of reckless homicide, marking the first time that an American corporation
was prosecuted on criminal charges. In the trial, which commenced on January 15, 1980, “Indiana state prosecutors alleged that Ford knew Pinto gasoline tanks were prone to catch fire during rear- end collisions but failed to warn the public or fix the problem out of concern for profits.” On March 13, 1980, a jury found Ford innocent of the charges. Production of the Pinto was discontinued in the fall of 1980.
Enter Ford’s Field Recall Coordinator
Dennis A. Gioia, currently a professor in the Department of Management and Organization at Pennsylvania State University, was the field recall coordinator at Ford Motor Company as the Pinto fuel tank defect began unfolding. Gioia’s responsibilities included the operational coordination of all the current recall
92 Business Ethics
campaigns, tracking incoming information.
Case 3Competition in the Craft Brewing Industry in 2017John D. Var.docx
Case 3Competition in the Craft Brewing Industry in 2017
John D. Varlaro
Johnson & Wales University
John E. Gamble
Texas A&M University–Corpus Christi
Locally produced or regional craft beers caused a seismic shift in the U.S. beer industry during the early 2010s with the gains of the small, regional newcomers coming at the expense of such well-known brands as Budweiser, Miller, Coors, and Bud Light. Craft breweries, which by definition sold fewer than 6 million barrels (bbls) per year, expanded rapidly with the deregulation of intrastate alcohol distribution and retail laws and a change in consumer preferences toward unique and high-quality beers. The growing popularity of craft beers allowed the total beer industry in the United States to increase by 6.7 percent annually between 2011 and 2016 to reach $39.5 billion. The production of U.S. craft breweries more than doubled from 11.5 million bbls per year to about 24.6 million bbls per year during that time. In addition, production by microbreweries and brewpubs accounted for 90 percent of craft brewer growth in 2016.1
The industry had begun to show signs of a slowdown going into 2017, with Boston Beer Company, the second largest craft brewery in the United States and known for its Samuel Adams brand, experiencing a 4 percent sales decline in 2016 that erased two years of of growth. The annual revenues of Anheuser-Busch InBev SA, whose portfolio included global brands Budweiser, Corona, and Stella Artois and numerous international and local brands, remained relatively consistent from 2014 to 2016. However, the sales volume of Anheuser-Busch’s flagship brands and its newly acquired and international brands such as Corona, Goose Island, Shock Top, Beck’s, and St. Pauli Girl allowed it to control 45.8 percent of the U.S. market for beer in 2016.2
Industry competition was increasing as grain price fluctuations affected cost structures and growing consolidation within the beer industry—led most notably by AB InBev’s acquisition of several craft breweries, Grupo Modelo, and its pending $104 billion acquisition of SABMiller—created a battle for market share. While the market for specialty beer was expected to gradually plateau by 2020, it appeared that the slowing growth had arrived by 2017. Nevertheless, craft breweries and microbreweries were expected to expand in number and in terms of market share as consumers sought out new pale ales, stouts, wheat beers, pilsners, and lagers with regional or local flairs.The Beer Market
The total economic impact of the beer market was estimated to be 2.0 percent of the total U.S. GDP in 2016 when variables such as jobs within beer production, sales, and distribution were included.3Exhibit 1 presents annual beer production statistics for the United States between 2006 and 2016.
Year
Barrels Produced (in millions)*
2006
198
2007
200
2008
200
2009
197
2010
195
2011
193
2012
196
2013
192
2014
193
2015
191
2016
189
*Rounded to the nearest million. .
CASE 3.2 Ethics, Schmethics-Enrons Code of EthicsIn Jul.docx
CASE 3.2 "Ethics, Schmethics"-Enron's Code of Ethics
In July 2000, Enron Corporation published an internal code of ethics docu-
ment that ran 64 pages in length (see the Appendix 1).Page 12 of the document
proudly announced the company's position on business ethics:
Employees of Enron Corp., its subsidiaries, and its affiliated companies
(collectively the "Company") are charged with conducting their business
affairs in accordance with the highest ethical standards. An employee
shall not conduct himself or herself in a manner which directly or indi-
rectly would be detrimental to the best interests of the Company or in
a manner which would bring to the employee financial gain separately
derived as a direct consequence of his or her employment with the Com-
pany. Moral as well as legal obligations will be fulfilled openly, promptly,
and in a manner which will reflect pride on the Company's name.
Products and services of the Company will be of the highest quality and
as represented. Advertising and promotion will be truthful, not exagger-
ated or misleading.
Agreements, whether contractual or verbal, will be honored. No bribes,
bonuses, kickbacks, lavish entertainment, or gifts will be given or received
. in exchange for special position, price or privilege . . . Relations with
the Company's many publics-customers, stockholders, governments,
employees, suppliers, press, and bankers-will be conducted in honesty,
candor, and fairness." .- ~ ~ ~ -
Subsequent investigations into the inner workings of Enron Corp. revealed that
the only time this code of ethics received formal attention (other than, presum-
ably,when it was created and formally accepted) was when the board of directors
voted to waive key provisions of the code in order to allow the off-balance-sheet
partnerships that Chief Financial Officer Andy Fastow ultimately used to hide
over half a billion dollars of debt from analysts and investors.
A more realistic picture of the apparent flexibility of Enron's ethical culture
can be found in the extreme conflict of interest represented in its relationship
with Arthur Andersen. Andersen provided both consulting and auditing ser-
vices for fees running into millions of dollars-money that became so critical to
Andersen's continued growth that its employees were encouraged to sign off on
off-balance-sheet transactions-transactions that were not shown on Enron's
publicly-reported balance sheet-that stretched the limits of generally accepted
accounting principles (GAAP) to their furthest edges. In addition, Enron hired
former Andersen employees to manage the affairs of their former colleagues,
which further strengthened the conflict of interest in a relationship that was
supposed, at the very least, to be at arm's length, and, at best, above reproach.
1. What is the purpose of a code of ethics?
2. Do you think the employees of Enron Corp. were told about the vote to put
aside key elements of the code of ethics? If not, why not? If they had .
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- 2. 60 % 30 % Sciences 40 % 50 % The budgeted costs in the two service departments for the year are as follows: Library $ 710,000 Computing Services 240,000 Required: 1. Use the direct method to allocate the budgeted costs of the Library and Computing Services Department to the college’s Liberal Arts and Sciences departments. (Do not round intermediate calculations and round your final answers to the
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- 4. for the year is as follows: Provider of Service User of Service HR Computing HR — 15 % Computing 20 % — Deposit 50 % 50 % Loan 30 % 35
- 5. % The budgeted costs in the two service departments for the year are as follows: HR $ 162,000 Computing 239,700 Required: Use the direct method to allocate the budgeted costs of the HR and Computing departments to the Deposit and Loan departments. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) Provider of Service Deposit Loan HR $ $ Computing
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- 9. 50 % The budgeted costs in the two service departments for the year are as follows: Library $ 600,000 Computing Services 240,000 Required: 1. Use the step-down method to allocate Hudson Community College’s service department costs to the Liberal Arts and Sciences departments. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) Liberal Arts Sciences Allocation of Computing Service costs $ $ Allocation of Library costs
- 10. Total costs allocated to each department $ $ eBook Linkreferences 5. value: 9.09 points Tuscaloosa National Bank has two service departments, the Human Resources (HR) Department and the Computing Department. The bank has two other departments that directly service customers, the Deposit Department and the Loan Department. The usage of the two service departments’ output for the year is as follows: Provider of Service User of Service HR Computing HR
- 11. — 15 % Computing 10 % — Deposit 60 % 50 % Loan 30 % 35 % The budgeted costs in the two service departments for the year are as follows: HR $ 153,000
- 12. Computing 229,500 Required: Use the step-down method to allocate the budgeted costs of the HR and Computing departments to the Deposit and Loan departments. Tuscaloosa National Bank allocates the costs of the HR Department first. (Do not round intermediate calculations and round your final answers to the nearest dollar amount. Omit the "$" sign in your response.) Deposit Loan Allocation of HR Department costs $ $ Allocation of Computing Department costs Total costs allocated to each department $ $
- 13. eBook Linkreferences 6. value: 9.09 points Breakfasttime Cereal Company manufactures two breakfast cereals in a joint process. Cost and quantity information is as follows: Joint Cost Cereal Quantity at Split-Off Point Sales Price per Kilogram $ 30,000 Yummies 12,000 kilograms $ 2.00 Crummies 8,000 kilograms 2.50
- 14. Required: Use the relative-sales-value method to allocate Breakfasttime Cereal Company’s joint production cost between Yummies and Crummies. (Round your calculation of relative proportions to 3 decimal places. Omit the "$" sign in your response.) Sales Value at Split-off Point Allocation of Joint Cost Yummies $ $ Crummies Total $ $ eBook Linkreferences [The following information applies to the questions displayed below.] Breakfasttime Cereal Company manufactures two breakfast
- 15. cereals in a joint process. Cost and quantity information is as follows: Joint Cost Cereal Quantity at Split-Off Point Sales Price per Kilogram $ 30,000 Yummies 12,000 kilograms $ 2.00 Crummies 8,000 kilograms 2.50 Breakfasttime Cereal Company has an opportunity to process its Crummies further into a mulch for ornamental shrubs. The additional processing operation costs $.50 per kilogram, and the mulch will sell for $3.50 per kilogram. 7.
- 16. value: 9.09 points Required: 1-a. Compute the incremental revenue per kilogram if management decide to process Crummies into the mulch. (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Net incremental revenue $ per kilogram 1-b. Should Breakfasttime’s management decide to process Crummies into the mulch? No Yes eBook Linkreferences Worksheet Difficulty: Medium Learning Objective: 17-04 Allocate joint costs among joint products using each of the following techniques: physical-units method, relative-sales-value method, and net-realizable-value method.
- 17. 8. value: 9.09 points 2. Suppose the company does process Crummies into the mulch. Use the net-realizable-value method to allocate the joint production cost between the mulch and the Yummies. (Do not round intermediate calculations. Omit the "$" sign in yourresponse.) Allocation of Joint Cost Yummies $ Mulch $ eBook Linkreferences Worksheet Difficulty: Medium Learning Objective: 17-04 Allocate joint costs among joint products using each of the following techniques: physical-units method, relative-sales-value method, and net-realizable-value method. [The following information applies to the questions displayed below.] Snake River Sawmill manufactures two lumber products from a joint milling process. The two products developed are mine support braces (MSB) and unseasoned commercial building lumber (CBL). A standard production run incurs joint costs of $300,000 and results in 60,000 units of MSB and 90,000 units of CBL. Each MSB sells for $2, and each unit of CBL sells for
- 18. $4. 9. value: 9.09 points 2. Calculate the amount of joint cost allocated to the mine support braces (MSB) on a relative-sales-value basis. (Do not round your intermediate calculations. Omit the "$" sign in your response.) Joint cost allocated to MSB $ eBook Links (2)references Worksheet Learning Objective: 17-04 Allocate joint costs among joint products using each of the following techniques: physical-units method, relative-sales-value method, and net-realizable-value method. Difficulty: Medium Learning Objective: 17-05 Describe the purposes for which joint cost allocation is useful and those for which it is not.
- 19. 10. value: 9.09 points 3. Assume the commercial building lumber is not marketable at split-off but must be further planed and sized at a cost of $200,000 per production run. During this process, 10,000 units are unavoidably lost; these spoiled units have no value. The remaining units of commercial building lumber are saleable at $10 per unit. The mine support braces, although saleable immediately at the split-off point, are coated with a tarlike preservative that costs $100,000 per production run. The braces are then sold for $5 each. Using the net-realizable-value basis, compute the completed cost assigned to each unit of commercial building lumber. (Do not round your intermediate calculations.Round your answer to 2 decimal places.Omit the "$" sign in your response.) Cost per unit of CBL $ eBook Links (2)references Worksheet Learning Objective: 17-04 Allocate joint costs among joint products using each of the following techniques: physical-units method, relative-sales-value method, and net-realizable-value method. Difficulty: Medium Learning Objective: 17-05 Describe the purposes for which joint cost allocation is useful and those for which it is not.
- 20. 11. value: 9.10 points Required: 1. Calculate the amount of joint cost allocated to commercial building lumber (CBL) on a physical units basis. (Do not round your intermediate calculations. Omit the "$" sign in your response.) Joint cost allocated to CBL $ eBook Links (2)references http://ezto.mhedu 0 -2-2 http://ezto.mhedu 0 -2-2 http://ezto.mhedu -2-2 http://ezto.mhedu
- 22. -2-2 POL102.04 Short Essay Assignment 1 Due: 11/03/14 In class, we briefly discussed Zaller's 'Purpleland' model of media influence. This model was also discussed in the assigned chapter from Zaller's book. In it, Zaller critiques the propaganda model. In the propaganda model, the government and large corporations use media to influence the preferences and behavior of the mass public. This is done to ensure that public opinion does not turn against corporate interests. In Zaller's model, the origins of public opinion are traced back to knowledge created from the use of the scientific method. What do you think of Zaller's 'Purpleland' model? In one (short) essay, discuss whether you think the 'Purpleland' model is a good or bad model of public opinion in the U.S. Your essay should contain the answers to the following questions: --------------------------------------------------------------------------- -------------------------------------- 1) What is the most important piece of evidence that you can think of that suggests that the 'Purpleland' model is a good approximation of the U.S.? 2) What is the most important price of evidence that you can think of that suggests that the 'Purpleland' model is a bad approximation of the U.S.? 3) Given this information, what do you think? Do you believe the 'Purpleland' model is right or wrong? Tell me why one piece of evidence is rationally more persuasive for you than the other. 4) What does this mean for U.S. society?
- 23. --------------------------------------------------------------------------- -------------------------------------- Because this is a very short essay, style and readability count. If your essay is poorly organized and merely answers these questions, you will receive a lower grade. If the essay is well- written and presents the answers to these questions in a thoughtful and organic way that is easy and enjoyable to read, it will receive a higher grade. These questions are meant only as a guide to thinking about how to write your essay. As such, you do not need phrases like 'The most importance piece of evidence I can think of is ... '. The answers to these questions should arise naturally as you discuss your point of view on 'Purpleland'. The best essays have a brief introductory part and conclude with the answer to the 4th question also. Your answer to this question should be 1 page or less and the text should not go onto a 2nd page. You should use times new roman font, font size 12, 1-inch margins on all sides, and 1.5 or double spacing. Writing a persuasive essay with a limited amount of text is part of the assignment. Your name and student ID number should be in the margin. You do not need a title for this essay. You do not need outside information to complete this essay. If you do use outside information, you may include a bibliography on the back of the page. You do not need to cite Zaller's book.