Phone Center (Scenario) The Technix Computer Corporation recently finished construction of a customer service phone center in New Delhi, India. Phone center agents will be responsible for answering technical questions from customers around the globe. Technix has hired 55 local computer experts as phone agents, and a training session is underway. Technical specialists and call center specialists from the United States have flown to India to train the new Indian employees. Hank Patelli, a senior manager of a Technix phone center in Michigan, will oversee the New Delhi phone center for six months until a local manager is hired and trained to replace him. Ashok, one of the Indian employees, asks Hank if the weekend training session could be rescheduled because it is a Hindu festival day. What will be the most likely outcome if Hank agrees to Ashok's request

Answer:

Hank will develop a relationship of trust and understanding with the Indian employees

Explanation:

Remember, we are told, Hank Patelli is from America, which most likely means he doesn't share the same religious believes as his Indian colleagues.

Hence, when Ashok, one of the Indian employees asks Hank if the weekend training session could be rescheduled because of a Hindu festival day, been a Senior manager, Hank had some authority to decline the request but he didn't because he respected their religion and culture. This action would therefore make Hank develop a relationship of trust and understanding with the Indian employees.

Problem 5-15 Comprehensive Problem-Weighted-Average Method [LO5-2, LO5-3, LO5-4, LO5-5] Sunspot Beverages, Ltd., of Fiji uses the weighted-average method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Units Materials Conversion Work in process, beginning 20,000 100% 75% Started into production 180,000 Completed and transferred out 160,000 Work in process, ending 40,000 100% 25% Materials Conversion Work in process, beginning $ 25,200 $ 24,800 Cost added during June $ 334,800 $ 238,700 Required: 1. Calculate the Blending Department's equivalent units of production for materials and conversion in June. 2. Calculate the Blending Department's cost per equivalent unit for materials and conversion in June. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. 4. Calculate the Blending Department's cost of units transferred out to the Bottling Department for materials, conversion, and in total for June. 5. Prepare a cost reconciliation report for the Blending Department for June.

Winnebago​ Industries, Inc. is a leading manufacturer of recreational vehicles​ (RVs), including motorized and towable products. The company​ designs, develops,​ manufactures, and markets RVs as well as supporting products and services. The RVs are sold to consumers through a dealer network. On the August​ 29, 2015, balance​ sheet, Winnebago reported inventory of approximately​ $112 million. Of this​ amount, approximately​ $12 million, about​ 11%, was Finished Goods Inventory​ (Notes to Consolidated Financial​ Statements, Note​ 3). Suppose Winnebago motor homes have an average sales price of​ $96,000 and cost of goods sold is​ 89% of sales. Thor​ Industries, Inc., a major​ competitor, has an average cost of goods sold of​ 86% of sales. For year ending August​ 29, 2015, Winnebago sold​ 9,097 motor homes​ (Form 10-K, Item 1​ Business).

Required:
a. Why would the Finished Goods Inventory be such a relatively small portion of total inventory?
b. What is the average cost of goods sold (in dollars) for a Winnebago motor home? What is the average gross profit?
c. If Winnebago could reduce production costs so that the average cost of goods sold is equal to their competitor’s average cost of goods sold, how much more profit would Winnebago earn on each motor home sold?
d. Based on 2015 sales, how much would operating income increase if the company reduced the average cost of goods sold to equal their competitor’s average cost of goods sold?
e. How could managers at Winnebago use managerial accounting to reduce costs and increase profits?

(CO 3) On the production line the company finds that 90.2% of products are made correctly. You are responsible for quality control and take batches of 30 products from the line and test them. What number of the 30 being correctly made would cause you to shut down production

Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method.

Nov. 5 Purchased 900 units of product at a cost of $10 per unit. Terms of the sale are 4/10, n/60; the invoice is dated November 5.
Nov. 7 Returned 35 defective units from the November 5 purchase and received full credit.
Nov. 15 Paid the amount due from the November 5 purchase, minus the return on November 7.

Suppose at December 31 of a recent year, the following information (in thousands) was available for sunglasses manufacturer Oakley Inc.: ending inventory $150,221; beginning inventory $109,841; cost of goods sold $349,744 and sales revenue $694,487. Calculate the inventory turnover for Oakley, Inc. (Round inventory turnover to 2 decimal places, e.g. 5.12.) Inventory turnover enter Inventory turnover rounded to 2 decimal places times eTextbook and Media List of Accounts Calculate the days in inventory for Oakley, Inc. (Round days in inventory to 0 decimal places, e.g. 125.) Days in inventory enter Days in inventory rounded to 0 decimal places days

what message is this price tag telling shoppers? (other than it is on sale)

Sally Toone wants to start a new business, and hopes to attract several hundred investors
to help finance its growth. She considered forming a C corporation, but wants to have
more flexibility about how the new business will be taxed. She also wants to offer
investors limited liability. Sally can satisfy her objectives by setting up a(n):
general partnership
alien corporation
S corporation.
limited liability company.

Vistakon, the maker of Acuvue brand contact lenses, is working on a new product launch. They are best known for their Acuvue 2 contact lenses, but are planning to launch Acuvue 3, which will provide 40% more moisture than Acuvue 2. The extra moisture will make the lenses more comfortable and cause less irritation. Vistakon has been in the new product planning process for a year. Currently, they are trying to determine the cannibalization rate of Acuvue 3. They believe that 30% of Acuvue 3 sales will come from Acuvue 2. Which stage of the new product planning process are they in

The Corporation determines that at current​ prices, the demand for its computer chips has a price elasticity of 2 in the short​ run, while the price elasticity for its disk drives is 1. If the corporation decides to raise the price of both products by ​percent, what will happen to its​ sales? Sales of computer chips will ▼ decrease increase by nothing percent and sales of disk drives will ▼ decrease increase by nothing percent. ​(Enter your responses here and below using integers.​) What will happen to sales​ revenue? Computer chip sales revenue will ▼ decrease increase .

Stellar Corporation was organized on January 1, 2020. It is authorized to issue 9,100 shares of 8%, $100 par value preferred stock, and 525,800 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.

Jan. 10 Issued 80,170 shares of common stock for cash at $6 per share.
Mar. 1 Issued 5,410 shares of preferred stock for cash at $112 per share.
Apr. 1 Issued 24,730 shares of common stock for land. The asking price of the land was $91,570; the fair value of the land was $80,170.
May 1 Issued 80,170 shares of common stock for cash at $9 per share.
Aug. 1 Issued 9,100 shares of common stock to attorneys in payment of their bill of $50,100 for services rendered in helping the company organize.
Sept. 1 Issued 9,100 shares of common stock for cash at $11 per share.
Nov. 1 Issued 1,010 shares of preferred stock for cash at $106 per share.

Required:
Prepare the journal entries to record the above transactions.

Kiyara (single) is a 50 percent shareholder of Jazz Corporation (an S Corporation). Kiyara does not do any work for Jazz Corp. Jazz Corp. reported $300,000 of business income for the year (2020). Before considering her business income allocation from Jazz Corp. and the self-employment tax deduction (if any), Kiyara’s adjusted gross income was $250,000 (all employee salary). Answer the following questions for Kiyara. (Leave no answer blank. Enter zero if applicable.)

Required:
a. Assuming the income allocated to Kiyara is qualified business income, what is Kiyara’s deduction for qualified business income?
b. What is Kiyara’s additional Medicare tax liability (include all earned income)?

Based on your reading of the following, choose the best answer to the question.

The Maverick Motel recently had to shut down operations for two days to get rid of bedbugs. A paying guest complained about getting bitten about a week ago, but as far as management can tell, the bedbugs are an isolated problem and were found only in three rooms. What can the motel do to minimize the damage to its reputation as a result of a guest finding bedbugs?

A. Create a banner ad on the motel’s web site announcing that the bedbug situation is now under control.
B. Call the paying guest and explain the problem has been addressed and is not widespread, and then offer the customer free stays for an entire year.
C. Call the paying guest and beg her not to tell anybody that she was bitten by bedbugs at the motel.
D. Call the paying guest and offer her money if she promises not to tell anyone about the bedbugs.

Since the end of the recession in 2009. small businesses have
a. decreased in number:
b. contributed an average of $2 billion per year to the U.S. economy.
c. struggled more than large businesses
d. generated the majority of new jobs.​

Cone Corporation is in the process of preparing its December 31, 2018, balance sheet. There are some questions as to the proper classification of the following items:

a. $70,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2022.
b. Prepaid rent of $44,000, covering the period January 1, 2019, through December 31, 2020.
c. Note payable of $240,000. The note is payable in annual installments of $40,000 each, with the first installment payable on March 1, 2019.
d. Accrued interest payable of $32,000 related to the note payable.
e. Investment in marketable securities of other corporations, $120,000.
f. Cone intends to sell one-half of the securities in 2019.

Required:
Prepare a partial classified balance sheet to show how each of the above items should be reported.

If you wanted to purchase ownership interests in diversified portfolios of investments which type of financial product provider should you contact

JJ Construction Inc. entered into a contract with a customer to build a movable storage facility on January 1, 2020, for $1,500,000. JJ Construction Inc. owns the work in process and constructs this type of storage unit for a number of customers. The customer made a down payment of 10% of the project, with an additional 10% due at the end of year one and the remaining due when it takes control of the facility. The facility is expected to be completed in two years for a total cost of $1,200,000. Actual costs incurred through December 31, 2020, are $500,000. Determine the amount of revenue to record in 2020.

(a) A business pays weekly salaries of $22,000 on Friday for a five-day week ending on that day. Journalize the necessary adjusting entry at the end of the fiscal period, assuming that the fiscal period ends (1) on Tuesday, (2) on Wednesday. (b) The balance in the prepaid insurance account before adjustment at the end of the year is $18,000. Journalize the adjusting entry required under each of the following alternatives: (1) the amount of insurance expired during the year is $5,300, (2) the amount of unexpired insurance applicable to a future period is $2,700. (c) On July 1 of the current year, a business pays $54,000 to the city for license taxes for the coming fiscal year. The same business is also required to pay an annual property tax at the end of the year. The estimated amount of the current year's property tax allocated to July is $4,800. (1) Journalize the two adjusting entries required to bring the accounts affected by the taxes up to date as of July 31. (2) What is the amount of tax expense for July

Information used to examine the profit margin management path comes from the retailer's income statement, which summarizes a firm's financial performance over a period of time. The information used to analyze a retailer's asset management path primarily comes from the retailer's balance sheet. Whereas the income statement summarizes the financial performance over a period of time, the balance sheet summarizes a retailer's financial position at a given point in time, typically at the end of the fiscal year.

The strategic profit model is a method for summarizing the factors that affect a firm's financial performance, as measured by return on assets. Return on assets is an important performance measure for a firm and its stockholders because it measures the profits that a firm makes relative to the assets it possesses. The strategic profit model decomposes ROA into two components: (1) operating profit margin percentage and (2) asset turnover. These two components illustrate that ROA is determined by two sets of activitiesâprofit margin management and asset turnover managementâand that a high ROA can be achieved by various combinations of operating profit margins and asset turnover levels.


1. Net Sales minus cost Of Goods sold
2. Net Profit Margin Percentage divided by Asset Turnover
3. Total Current Assets plus Total Fixed Assets
4. Net Profit before Taxes minus Taxes
5. Net Profit after Taxes divided by Net Sales
6. Gross Margin minus Operating Expenses
7. Net Sales divided by Total Assets


Match each of the options above to the items below.

a. Total Assets (All of the retailers combined assets)
b. Asset Turnover (This financial measure assesses the productivity of a firm's investment in its assets and indicates how many dollars are generated for each dollar Of assets)
c. Gross Margin (This measure indicates how much profit the retailer is making on merchandise sold, without considering the expenses associated with operating the store)
d. Net Operating Profit before Taxes (This measure Indicates how much profit a retailer is making before taxes are taken out)
e. Net Profit after Taxes (This measure indicates how much profit a retailer is making after taxes are taken out)
f. Net Profit Margin Percent (This financial measure is expressed as a percentage of net sales to facilitate comparisons across items, categories, and departments)
g. Return on Assets (This financial measure evaluates the profit generated by the assets possessed by the firm)

CP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5][The following information applies to the questions displayed below.]The following is a list of accounts and amounts reported for Rollcom, inc., for the fiscal year ended September 30, 2015. The accounts have normal debit or credit balances. Accounts Payable $ 39,000 Accounts Receivable 66,400 Accumulated Depreciation—Equipment 21,400 Cash 80,200 Common Stock 94,700Equipment 90,600 Income Tax Expense 10,490 Notes Payable (long-term) 1,490 Office Expense 6,290 Rent Expense 164,100 Retained Earnings 99,790 Salaries and Wages Expense 128,600 Sales Revenue 325,400 Supplies 35,100ReferencesSection BreakCP4-1 Preparing an Adjusted Trial Balance, Closing Journal Entry, and Post-Closing Trial Balance [LO 4-3, LO 4-5]11.value:8.33 pointsRequired informationCP4-1 Part 22. Prepare the closing entry required at September 30, 2015. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)12.value:8.33 pointsRequired informationCP4-1 Part 33. Prepare a post-closing trial balance at September 30, 2015.

Place the following U.S. markets in order from least competitive to most competitive.

Middletown Regional Electric company, the only provider of electricity to the region.

Coca-Cola Company, one of two main firms in the beverage market.

Tony's Tomatoes, a tomato seller at a farmer's market with many other tomato sellers.

Roger Hillcrest owns 100 shares of $10 par, 5% noncumulative preferred stock. During the current year, there are no dividends
declared or paid. If there is a large cash dividend paid in the following year, Roger would be entitled to up to for the previous year before common shareholders are paid.

Bond X is a premium bond making semiannual payments. The bond pays a coupon rate of 10 percent, has a YTM of 8 percent, and has 14 years to maturity. Bond Y is a discount bond making semiannual payments. This bond pays a coupon rate of 8 percent, has a YTM of 10 percent, and also has 14 years to maturity. The bonds have a $1,000 par value. What is the price of each bond today? If interest rates remain unchanged, what do you expect the price of these bonds to be one year from now? In four years? In nine years? In 13 years? In 14 years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

The ledger of Shamrock, Inc. on March 31, 2022, includes the following selected accounts before adjusting entries.

Debit Credit
Supplies 2,780
Prepaid Insurance 2,240
Equipment 25,500
Unearned Service Revenue 14,700

An analysis of the accounts shows the following.

1. Insurance expires at the rate of $280 per month.
2. Supplies on hand total $890.
3. The equipment depreciates $170 per month.
4. During March, services were performed for two-fifths of the unearned service revenue.

Required:
Prepare the adjusting entries for the month of March.

Albert established a qualified tuition program for each of his twins, Kim and Jim. He started each fund with $20,000 when the children were five years old. Albert made no further contributions to his children's plans. Thirteen years later, both children have graduated from high school. Kim's fund has accumulated to $45,000, and Jim's has accumulated to $42,000. Kim decides to attend a state university, which will cost $60,000 for four years (tuition, fees, room and board, and books). Jim decides to going to work instead of going to college. During the current year, $7,500 is used from Kim's plan to pay the cost of her first semester in college. Because Jim is not going to college now or in the future, Albert withdraws the $42,000 plan balance and gives it to Jim to start his new life after high school.

Required:
a. During the period since the plans were established, should Albert or the twins have been including the annual plan earnings in gross income?
b. What are the tax consequences to Kim and Albert of the $7,500 being used for the first semester's higher education costs?
c. Because of her participation in the qualified tuition program, Kim received a 10% reduction in tuition charges; so less than $7,500 was withdrawn from her account. Is either Albert or Kim required to include the value of this discount in gross income?
d. What are the tax consequences to Albert of Jim's qualified tuition program being closed?

In order for a person to recognize needs that are not being met and make a career out of fulfilling unmet needs, that person must have _____.
a.
interpretation
b.
sight and foresight
c.
independence
d.
decision making skills

Juan would like to give his
newly born grandson a gift of
$10,000 on his 18th birthday.
Juan can earn 7% annual
interest on a certificate of
deposit How much must he
deposit now in order to achieve
his goal?

On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances:

Accounts Debit Credit
Cash $23,900
Accounts Receivable 5,300
Supplies 3,200
Land 51,000
Accounts Payable $3,300
Common Stock 66,000
Retained Earnings 14,100
Totals $83,400 $83,400

During January 2021, the following transactions occur:

January 2 Purchase rental space for one year in advance, $6,300 ($525/month).
January 9 Purchase additional supplies on account, $3,600.
January 13 Provide services to customers on account, $25,600.
January 17 Receive cash in advance from customers for services to be provided in the future, $3,800.
January 20 Pay cash for salaries, $11,600.
January 22 Receive cash on accounts receivable, $24,200.
January 29 Pay cash on accounts payable, $4,100.

Required:
a. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 7). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.
b. Record the adjusting entries.
c. Rent for the month of January has expired.
d. Supplies remaining at the end of January total $3,500.

Frieling Company installs granite countertops in customers' homes. First, the customer chooses the particular granite slab, and then Frieling measures the countertop area at the customer's home, cuts the granite to that shape, and installs it. The Tramel job calls for direct materials of $1,900 and direct labor of $900. Overhead is applied at the rate of 150 percent of direct labor cost. Unfortunately, one small countertop breaks during installation and Frieling must cut another piece and install it to properly complete the job. The additional rework required direct materials costing $400 and direct labor costing $100. Assume that the spoilage was due to the inherently fragile nature of the piece of stone picked out by the Tramels. Frieling had warned them that the chosen piece could require much more care and potentially additional work. As a result, Frieling considers this spoilage to be caused by the Tramels' job.

Required:
a. Calculate the cost of the Tramel job.
b. Make any needed journal entry to the overhead control account. If an amount box does not require an entry, leave it blank.
c. What if the additional rework required $200 of direct labor? What would be the effect on the cost of the Tramel job?

How can expenses on groceries, clothes, and transportation be classified?
A.
variable expenses
OB.
fixed expenses
C.
unexpected expenses
D.
debt expenses
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upply and demand
Question 8 of 10
Which situation would cause the price of a product to fall the most?
A. Both the demand and the supply fall.
B. Both the demand and supply rise.
C. The demand falls while the supply rises.
D. The demand rises while the supply falls.