PSY 280 Final Exam MCQs PSY 280 Final Exam MCQs Question PSY 280 Marriage and Family Text: Marriages and Families: Making Choices in a Diverse Society 10th Edition, 2009 ISBN: 13: 978-0-495-39092-3 Authors: Mary Ann Lamanna and Agnes Riedmann Publisher: Thomson Learning, Inc. Multiple Choice Questions (Enter your answers on the enclosed answer sheet) 1. In 2005, the average size of a u.s. household was 4.14 people. 3.14 people. 2.57 people. 1.1 people. According to the text, marriage remains an almost experience; 91 percent of adults have been married or plan to marry. universal surreal e. rare d. unreal 3. Over the past four decades, fertility in the United States has stayed about the same. increased dramatically. e. declined. d. fluctuated substantially. In 1957, the total fertility rate was about 3.6 children per woman. For the last decade and a half, it has been child/children per woman. o , Ie;,;, than one b. one e. around two d. about three 5. The text reports that rates of childlessness seem to be increasing. leveling off. e. decreasing. d. fluctuating. 6. The text reports that divorce rates continue to increase annually. are much lower today than in the past. e. have stabilized, although they remain at high levels. d. are skyrocketing. 7. The divorce rate has been in decline for more than two decades. continues to increase over time. will probably never level off. will always remain at 50 percent of first marriages. 8. ______ Americans are most likely of all age groups to be living alone. Teenaged College-age Middle-age Older What is the primary reason, according to the text, that the transition to adulthood has become elongated? it takes longer to earn enough to support a family more children are deciding not to attend college freeloading is easier young adults are marrying later The stage of the family life cycle comes to an end with the arrival of the first child. singlehood newly established couple families with adolescents aging families 11. What marks the end of the family life cycle, according to the text? divorce the death of the last person with the family surname the death of a spouse the children leaving home The view that the family is an enduring social institution because of the important tasks it performs for society - reproduction, emotional support, socialization of children - is the perspective. structure-functional family relationships interactionist family systems According to psychologist Jeffrey Arnett, which of the following criteria are NOT among those necessary for adulthood? accept responsibility for yourself make independent decisions become financially independent get married The structure-functional theoretical perspective views the family as performing at least three important functions. Which of the following is NOT one of these? raising children responsibly providing economic support mate selection providing emotional security Suppose that a law states: "The husband is the head of the household. As such, he will establish a place and a mode of living and the wife must conform thereto. The husband must support his wife and minor children out of his labor. The wife must assist him insofar as she is able.This hypothetical law is consistent with the focus of which theoretical perspective? conflict structure-functional interactionist family ecology The perspective, which calls attention to cross-cultural variation in family structure, points out that all societies look to families to accomplish some roles/tasks, even though they may differ from one another regarding how it is arranged for these tasks to be accomplished. feminist family systems exchange structure-functional Advocates supporting the perspective frequently argue that the nuclear family is the norm, while their opponents refuse to view the nuclear family as normal, natural, or best. feminist exchange structure-functional conflict Being at war does affect American families, since of U.s. service members are married, and almost have children. ten percent; twenty percent one quarter; half twenty percent; forty percent half; three quarters Almost percent of families in the United States were classified as"working poor" in 2004 (at least one wage earner, but below poverty-level incomes). 5 7 10 12 rne divorce rate tor military marriages, as compared to civilian couples, is ____ (personnel) and (officers). higher; the same similar; higher higher; similar similar; lower Economists are divided as to whether the increasing of the economy - more outsourcing of jobs to other countries and the replacement of manufacturing by service jobs - is rendering the economic foundation of the American family more precarious or is opening new opportunities. industrialization naturalization globalization elevation The income of the bottom 60 percent of Americans has since 1979. skyrocketed steadily climbed dropped barely budged The text points out that white-collar jobs, especially those in technological and engineering fields and some financial services, are moving overseas to which two countries? India and China Spain and Italy Kenya and South Africa England and Germany 24. One in children in the United States is in poverty. 10 8 6 2 25. According to the text, race is a social construction. biological category. genetic grouping. separate category distinguished by certain biological markers. The 2000 census employed five major racial categories. Which of the following is NOT one of these? white Black or African American Hawaiian or other Pacific Islander multicultural 27. One cultural message that is sent about being a involves men being expected to distance themselves from anything considered feminine. sensitive father good worker "real man" stud 28. The cultural expectations for men include all but which of the following? occupational and financial success confidence and self-reliance nurturing and tenderness responsible for military defense An alternate for men emphasizes adventure, sometimes coupled with violence and/or the need to outwit, humiliate, and defeat other men in barroom brawls, contact sports, and war. cultural message gender identity feminine script gender role The pivotal expectation in for a woman requires her to offer emotional support. occupational roles femininities the parenthood role being a lover A feminine expectation that has emerged over the past twenty years is that of the II woman": independent, ambitious, and self-confident. bureaucratic ideal professional powerful but lonely According to the text, more and more women are entering nontraditional occupations such as the military. teaching. homemaking. nursing. One alternate stereotypical white working-class male response to economic disadvantage and social change involves all but which of the following? a denigrating and hostile critique of blacks and other minorities the "hypermasculinity [of] shop floors, motorcycle clubs, and urban gangs" a renewed sense of family responsibility criticalness towards women Traditionally, the ideal woman has several stereotypical traits. Which of the following is NOT one of these? physically attractive not too competitive a good listener career ambition During the 1980s, a new cultural message about men emerged. According to this message, the II II male or "new man" is emotionally sensitive and expressive, valuing tenderness and equal relationships with women. girly feminine liberated emasculated The cultural script for the "strong black woman" emphasized certain qualities. Which of the following is NOT one of these? submissiveness independence assertiveness employed From a(n) perspective, we consider that humans are designed for the purpose of transmitting their genes to the next generation. interactionist social conflict structure functional biosocial According to the perspective, men are inclined toward casual sex with many partners, whereas women are inclined to be selective and monogamous. structure-functional biosocial exchange interactionist From the exchange perspective, what a person expects out of a relationship is referred to as relative orientation. perspective. comparison level. satisfaction level. In the model of sexual satisfaction, satisfaction is seen to depend on the costs and rewards of a sexual relationship, as well as the participant's comparison level. interactionist interpersonal exchange social conflict developmental The interactionist perspective emphasizes the interpersonal negotiation of relationships in the context of sexual scripts. exchange components. comparison level. gender roles. According to the theoretical perspective on human sexuality, women and men are seen as being influenced by cultural messages about how we are to be sexual. developmental interpersonal exchange interactionist structure functional In a(n) society, sex is defined as a physiological activity, valued for its procreative potential. patriarchal matriarchal egalitarian culturally diverse Within the scope of sexuality, orgasm is important for women as well as for men, and sex is not only, or even primarily, for reproduction, but is an important means of enhancing human intimacy. patriarchal instrumental expressive postmodern The proportion of divorced and widowed is lower among an indication of their strong cultural commitment to lifelong marriage, and their average lower age. Hispanics non-Hispanics whites African Americans Asian Americans In 1970,36 percent of women age twenty through twenty-four were never married; by 2005, that figure had risen to percent. 40 50 65 75 Permanence and sexual exclusivity are two every important elements of the marriage a. dialogue. b. premise. c. contract. d. dynamic. Bill and JoAnn have recently married and have made a commitment to each other that they will keep each other as the most important people in their lives, and stay together as long as they live. Bill and JoAnn's joint commitment reflects the expectations of self-disclosure. permanence. emotional devotion. fidelity. Zack and Mikayla have recently married and have agreed that they will only have sexual relations with each other. This agreement reflects the expectations of the love relationship. primariness. sexual exclusivity. self-disclosure. Social scientists have defined the family as a -a fundamental component of social organization. social institution individual contract familial norm unit of population 51. (having more than one spouse) is culturally accepted in many parts of the world. Heterogamy Homogamy Polyandry Polygamy 52. What is the key function of marriage for most Americans? a practical, economic institution love and ongoing emotional support childbearing and rearing merging two families Marria With a group of other married couples, Maureen and Jim regularly exchange partners in order to engage in purely recreational sex. This reflects a practice known as "musical beds:' "marriage alternatives:' "fun time:' "swinging:' 54. Singles are less likely to return home when _ their parents have recently moved their parents have been divorced or remarried they have a child out of wedlock they struggle to find a job 55. The text points out that, in American society, communes have existed throughout its history. have never appeared. are a very recent development. began to develop in the 1960s. 56. A is a situation or place characterized by group living. home retirement community commune gathering Communal living may be one way to deal with problems associated with all EXCEPT which of the following? aging unattached singlehood single parenthood sexual permissiveness 58. Communal living is designed to provide _ financial stability social support and companionship romantic involvement sexual expressiveness 9. Today, approximately million U.s. heterosexual couples cohabit. 1.5 2.5 3.5 5.5 (as per book page 199 answer should be 6.8.. so I ahve choosen the nearest to it)About percent of u.s. women age 15 through 45 are currently cohabiting with a male partner. 1 3 5 9 According to the text, percent of women aged 15-45 have cohabited at some time in their lives. about 5 close to 10 just over 25 just over 50 The text reports that approximately percent of cohabitants are age 65 and over - a fifty percent increase since 1990. 5 15 25 over 30 63. In much of the world, particularly in parts of Asia and Africa that are less Westernized, parents have traditionally their children's marriages. arranged interfered in paid for organized Today, in countries where arranged marriages used to be the norm, it is more common for the children to marry only when they themselves accept their parents' choice. Unions like these are called _ agreed-upon marriages conceded marriages reluctant marriages assisted marriages In terms of mate selection patterns, the United States is an example of what cross-cultural researchers call a culture. nationalized marriage cross-national collectivist free-choice Arranged marriage developed in societies based on strong extended family ties. capitalist collectivist primitive postindustrial With global westernization, are replacing arranged marriage as the preferred way to select mates throughout the world. non-traditional unions participant-run marriages free choice marriages individual unions In studying shared parenting, Diane Ehrensaft identified three factors that affected both a father's dedication to everyday parenting and the mother's commitment, too. Which of the following is NOT one of these? Many men and their wives were strongly influenced by the feminist movement or other 1960s ideologies that kept them going during the more difficult times. Many of the mothers were intrinsically committed to elementary education. Many of the fathers were in occupations related to children, such as academic child psychology. Both parents tended to have good job security, so they could risk the displeasure of their supervisors in giving time to parenthood. The text refers to as the degree to which partners agree with and support each other as parents. partnering parenthood mutual support parenting parenting alliance allied parents In terms of children's behavior problems, aggression, lying, cheating, running away from home, disobeying at school, and delinquency are all examples of externalizing. internalizing. disorganization. anomie. In terms of children's behavior problems, withdrawal, depression, and anxiety are all examples of anomie. internalizing. externalizing. psychoses. Researchers have consistently found a link between and externalizing and internalizing in children. age of child gender ethnicity marital conflict The correlation between interparental conflict and behavior problems in children held true regardless of whether the parents were married or divorced. black or white. overtly or covertly violent. conflictual with the children or not. The text points out that shared parenting is probably more satisfying for parents and effective for children when both parents use which parenting style? authoritarian laissez-faire authoritative egalitarian 80. Men with children work compared to childless men, on average. decreased hours increased hours less about the same The Census Bureau only considers those whose wives worked full time as ____ -' also called househusbands. stay-at-home-dads unemployed egalitarian slackers According to the u.s. Bureau of Labor Statistics from 2006, wives earn more than their husbands in percent of couples. 10 25 30 50 Brad and Janet have been married for 10 years. Janet is a prosecuting attorney. Brad stays home to care for the house and family. The text would identify Brad as a good provider. role-reversed father. poor provider. househusband. Today, the statistical norm among married couples is the marriage. dual-career male-as-sole-provider two-earner female-as-sole-provider One year into marriage, the average spouse says 'I love you,' hugs and kisses their partner, makes their partner laugh, and has sexual intercourse ____ as often as when they were newly wed. twice just about half one quarter In his most recent publications, Nick Stinnett has used the term "strong families;' by which he largely means attributive. cohesive. consensual. generalized. When Nick Stinnett made his observations offamily strengths, six qualities stood out. Which of the following is NOT one of these? appreciation for one another arrangement of personal schedules to be together a high degree of commitment an excess of consensual validation SOciologist/counselor Carlfred Broderick has listed certain important positive results of good listening. Which of the following is NOT one of these? The attitude of listening itself shows love, concern, and respect. Listening can reveal faults in the relationship. The avoidance of interrupting and criticism prevents the sending of negative messages. People discover how things actually look from a spouse's or partner's point of view. According to Shelly Gable's research the "correct" response by one partner to the other's having something positive happen is characterized by active enthusiasm. measured evaluation. sympathetic understanding. controlled argumentation. The text points out that it is only in the present situation, in which neither patriarchal nor egalitarian norms are firmly entrenched, that marital power is negotiated by individual couples and the power of husbands and wives may be a consequence of their resources. patriarchal matriarchal power non-specific transitional egalitarian Virtually all research indicates that women's satisfaction with is strongly associated with women's relationship happiness, marital commitment, and depression and with the risk of marital disruption. the fairness of their partners' contributions to household work their sexual fulfillment their career and outside pursuits relationships with in-laws 92. Since 1965, trends in average weekly housework hours for men and women show: men do more housework than women there has been a significant increase in men's share of the housework, although the amount oftime spent is still not equal nothing has changed since 1965 there is no significant trend Research on couples' -whether they pool their money and who controls pooled or separate money-is relatively recent. allocation systems financial marital status fund typing cash decisions A study of fifty-five instances of perinatal loss found that grief was still felt by some parents forty years later, whereas the majority reported _ occasional bouts of intense grief occasional mild grief slight depression no long-term grief According to the text, negotiating family boundary changes is particularly difficult when the loss of a family member is abrupt. certain. ambiguous. unexpected. Ambiguous loss may occur when a family member is physically present but psychologically absent, as in all BUT which of the following cases? alcoholic or mentally ill family members learning disabled children those suffering from Alzheimer's disease children with cognitive impairment or severe disabilities From the perspective, ambiguous loss is uniquely difficult to deal with because it creates boundary ambiguity in a family. conflict interactionist family development family systems Hetherington maintains that percent of those who obtain a divorce become "enhanced': 10 70 30 20 Which of the following is NOT one of sociologist Paul Bohannan's "stations" of divorce? emotional legal sexual psychic 100. David and Patricia have been married for ten years. They no longer reinforce, but rather undermine each other's self-esteem through endless large and small betrayals; they blame, rather than comfort each other. These conditions reflect the "station" of divorce. psychic emotional community legal
University of Phoenix – ACC 542 – Accounting Information System – Audit Proposal University of Phoenix – ACC 542 – Accounting Information System – Audit Proposal Question University of Phoenix - ACC 542 - Accounting Information System - Audit Proposal
W6 PRINC ACCTG II FINAL W6 PRINC ACCTG II FINAL Question W6 PRINC ACCTG II FINAL , Attachments (365.59 KB)
What are 2 real life examples of starvation and race? What are 2 real life examples of starvation and race? Question 1. What are 2 real life examples of starvation and race? 2. Describe the fate of the victim in deadlock resolution describe actions required to complete victims tasks 3. A system that is in unsafe state is not necessaily deeadlock explain why this is true give example of such a system in unsafe state and describe how all the processes could be completed without causing deadlock to occur
The importance or hindrance of unions in the workplace The importance or hindrance of unions in the workplace Question The importance or hindrance of unions in the workplace Assignment 3 Grading Criteria Maximum Points A clear thesis statement is located at the end of the first paragraph. 5 Essay provides substantive evaluation of the credibility of eight sources. 15 In-text citations conform to APA style and include author, publication date, and page or paragraph numbers. 10 Essay has an ending that adequately concludes the paper. 5 References page contains a correctly formatted entry for each source. 5 The essay itself is properly formatted, including a title on the cover and at the top of second page and the word “References “ at the top of the references page, a cover page with proper headers and the remainder of the paper with different but correct headers. 5 Essay is free or virtually free of grammatical, mechanical, and spelling errors. 5 Using the same essay: The iporrtance or hindrance of unions in the work palce
Network case Questions 2 Network case Questions 2 Question Take a look at Case Project 7-6: Community Site Activity. You do not need to logon to the Information Security Community site to complete this assignment. Read through the narrative regarding Vendor A and Vendor B, then answer the questions. Provide examples to support your answers. You might also find guidelines for a suggested timeline, and cases where penalties were applied for non-compliance. You might do a little research and determine if there are regulations regarding disclosure for different industries, such as health care. No more than two pages. Vendor A was successfully attacked on Monday night and personal customer information was compromised. The next day, Vendor A sent an e-mail to its customers that it was the victim of a successful attack that occurred“recently”in which“certain information”was stolen. Vendor A did not detail what information was stolen, what direct impact it may have on its customers, or what customers should do about it, other than some generic statements. Vendor B was also successfully attacked on Monday night. However, Vendor B waited 10 days before revealing the attack to its customers, but they included detailed information about the attack, its consequences, and how customers could protect themselves. In both cases, clear and immediate information was not distributed. Should vendors be obligated to inform customers when attacks occur and how to protect ourselves? What should be the time line for doing so? What should be the penalties if vendors do not follow such guidelines?
The Aspen Ridge limited partnership Problem The Aspen Ridge limited partnership Problem Question Facts:The Aspen Ridge limited partnership was formed on April 1, 2009, by Mark Sullivan, its general partner, and two other limited partners when they each contributed an equal amount of cash to start the new enterprise. Aspen Ridge is an outdoor equipment retailer selling camping, fi shing, skiing, and other outdoor gear to the general public. Mark has a 33.33% profi ts and capital interest and the limited partners hold the remaining 66.66% of the profi ts and capital interests. Their profi ts and capital interests have remained unchanged since the partnership was formed. Mark is actively involved in managing the business while the limited partners are simply investors. • Aspen Ridge is located at 1065 North 365 South, Ogden, UT, 84401.• The employer identification number for Aspen Ridge is 85-8976654.• Aspen Ridge uses the accrual method of accounting and has a calendar year end.• Mark’s address is 543 Wander Lane, Holliday, UT 84503. The following is Aspen Ridge’s 2011 income statement for books: Aspen Ridge Income StatementFor year ending December 31, 2011Sales 965,500Sales Returns and Allowances (9,700)Cost of Goods Sold (538,200)Gross Profit from Operations 417,600Other Income:Interest from money market account 3,200Gain from sale of photograph 34,000Gross Income 454,800 Expenses:Employee wages 95,400Interest on accounts payable 2,700Payroll and property taxes 10,800Supplies 4,300Rent on retail building 18,500Depreciation on furniture and fixtures 4,550Advertising 8,300Guaranteed payments to Mark Sullivan 35,000Utilities 6,400Accounting and legal services 4,400Meals and entertainment 2,240Charitable contribution to the Sierra Club 3,300Miscellaneous expenses 5,750Total Expenses (201,640)Net Income for Books $ 253,160 Notes:1. Aspen Ridge has total assets of $1,725,800 and total liabilities of $540,300 at the beginning of the year and total assets of $2,065,300 and total liabilities of $806,640 at the end of the year.2. Partnership liabilities consist of accounts payable, and Mark, as general partner,is legally responsible for paying these liabilities if the partnership does not.3. Two years ago, Aspen Ridge purchased an original Ansel Adams outdoor landscape photograph with the intent to display it permanently in the retail store.This year, however, the photograph was sold to a local ski lodge where it is now hangs on the wall. The $34,000 recognized gain from the sale is reflected in the income statement above.4. For tax purposes, Aspen Ridge has consistently elected under Section 179 to expense any furniture or fixtures purchased every year since it was formed. As a result, it does not have a tax basis in any of its depreciable assets. This year, Aspen Ridge expensed $17,300 of signs and display cases for tax purposes.5. On November 20th, Aspen Ridge distributed $180,000 ($60,000 per partner) to the partners.6. Miscellaneous expenses include a $900 fine for violating a local signage ordinance.7. Aspen Ridge
Bob White leaned back and wiped his forehead with his hand Bob White leaned back and wiped his forehead with his hand Question Bob White leaned back and wiped his forehead with his hand. He was the president of the home oven division of Winkley & White, a manufacturer of a full line of home appliances that included refrigerators, ranges, ovens, dishwashers, disposals, dryers, washers, and range-hoods. The oven division made 24” and 26” built-in ovens, both self-cleaning (pyrolytic) and continuous clean(catalytic) models.The ovens were used mainly for home improvement, although a small portion was used in new construction. The Winkley & White oven was regarded as a high-quality, premium product and was expensive. Winkley & White ovens were sold to independent distributors, who in turn sold to appliance stores, home improvement centers, building and remodeling contractors, and other retail outletsAlthough the Winkley & White oven was a premium product and was distributed nationally, it had never achieved the large volume of better known brands such as General Electric, Magic Chef, Caloric, or Amana. As a result, the Winkley & White oven division was only marginally profitable due to its low volume.Last year, in order to increase volume, Winkley & White had entered into OEM1 contracts to manufacture ovens under other brand names. This was common practice in the industry, and in fact several of Winkley & White appliances (including gas ranges and disposals) were manufactured by other firms.Under one contract, Winkley & White made ovens for Samantha Stoves, a well-known established brand that was sold by its own distribution division to appliance stores, home improvement centers, building and remodeling contractors, and other retail outlets. Under another contract, Winkley & White manufactured ovens for Mastercraft Stores, which was a mass- market retailer with over a thousand stores throughout the United States. The Samantha and Mastercraft ovens were essentially similar to the Winkley & White brand ovens.Bob White was perspiring because he had just finished a phone conference with the top executives of Samantha. The Samantha executives had demanded a 5% price cut. What bothered Bob even more was that if Samantha received a 5% price cut, word would soon leak out, and Mastercraft would soon be demanding a price cut of 5% too. Within ten minutes, Bob had his three top executives around a conference table and had relayed to them the substance of Samantha's call. Jack Hewitt, the plant manager, was saying, “The Samantha and Mastercraft ovens are basically like our own ovens, but their walls are not as well insulated or as well sealed at the door opening. The difference in cost is $5 for rockwool insulation and $1 for the door gasket per oven. Labor cost is the same for all three brands.“Under the contracts with Samantha and Mastercraft, their production is scheduled 90 days in advance- which allows our ‘just-in-time’ inventory system to be implemented for raw materials. As a result, inventories of raw materials, work in process, and finished goods average about 30 days versus the 100 days of inventory we normal carry for the Winkley & White brand ovens. Sidney, what are our inventory carrying costs?”Sidney Cohen, the division controller, tapped his pencil on the table and cleared his throat. “We have carefully studied our inventory carrying costs, and these add up to double the interest rate that we pay on our short-term borrowings. We have a line of credit at two points over prime, with a compensating balance requirement of 20%. Prime rate is presently 8%.Our Selling, General and Administrative expenses are mainly stable year after year, and have not increased since we began making OEM ovens, Sidney continued. So, there are definitely manufacturing cost savings on our OEM ovens for Samantha and Mastercraft.Next to speak was Barbara Craig, the division sales manager. “Our terms of payment are 10 days from invoice for Samantha and Mastercraft, as compared with the normal 60 days on accounts receivable that we carry for our own distributors. Also, Winkley & White pays the freight on all truckload orders from our distributors. Samantha and Mastercraft pay the freight to ship all of their OEM ovens from here to to their central distribution points in Dallas and Chicago, respectively.Winkley & White provides a three-year warranty on labor and materials for our own brand ovens, but we do not provide warranties or warranty service on the OEM ovens.Bob White said, “Each of you has identified possible sources of lower costs on our OEM ovens versus our Winkley & White ovens. The question is whether these cost savings add up to enough to justify the lower prices that our OEM ovens sell for. If not, we may be in hot water. I seem to recall there’s a law, Robertson Patrick or some such name, on price discrimination. I hope that’s not going to cause our distributors to sue us for price discrimination. To avoid a lawsuit we must prove that our OEM prices are lower than what we charge our own distributors, due to cost savings on OEM sales.“Sidney, would you put a report together on this right away. Then let’s all get together again this afternoon at four to see how we stand.” Sidney replied, “So they’re bringing in their lawyer, are they? Well I don’t like to be threatened. We can bring in lawyers too. Isn’t there some law against trade conspiracies, Bob? Can’t you call our lawyer and see if he can be here for the meeting?”Bob called the Winkley & White attorney. He had a previous engagement but agreed with Bob that this appeared to include a Robinson-Patman issue, unless Winkley and White could prove that its OEM prices were lower than what it charged its own distributors because of cost savings on OEM sales.1OEM stands for Original Equipment Manufacturer, indicating that Winkley & White were the Original Equipment Manufacturer for Samantha and Mastercraft ovens.*****************************************************************************************Assignment: You are Sidney’s assistant. He asks you to prepare his report, and to clearly and fully explain your reasoning and your calculations. I need excel calculations to support the reportThis might helpWinkley and White CorporationHome Oven DivisionIncome Statement for the Year Ended December 31 (in $’000)________________________________________________________Sales (net) 30,538Raw materials 6,894Factory wages 8,642Factory overhead 7,003Cost of goods manufactured 22,539Add: Beginning inventories 5,079Less: Ending inventories 5,985Cost of goods sold 21,633 21,633Gross profit 8,905Less operating expenses:Product warranty service costs 1,256Freight out 1,321Selling and marketing 958Product advertising and promo 432General and administrative 1,623Allocated corporate overhead* 329Total operating expenses 5,919 5,919Division income before income taxes 2,986*Note: Corporate overhead includes interest expense.Average TotalOvens Sold Number Price Sales ($’000)Winkley & White brand 23,673 $626.00 $14,819Samantha OEM brand 17,654 $407.00 $7,185Mastercraft OEM Brand 20,966 $407.00 $8,533Totals 62,293 $30,537
FINANCE 571 LAWRENCE SPORTS SIMULATION (6 PAGES) JANUARY 2014 FINANCE 571 LAWRENCE SPORTS SIMULATION (6 PAGES) JANUARY 2014 Question FINANCE 571 SIMULATION JANUARY 2014 UPDATED
ACC- Runcke Motor Company manufactures automobiles ACC- Runcke Motor Company manufactures automobiles Question E1-17 Runcke Motor Company manufactures automobiles. During September 2011 the company purchased 5,000 head lamps at a cost of $9 per lamp. Runcke withdrew 4,650 lamps from the warehouse during the month. Fifty of these lamps were used to replace the head lamps in autos used by traveling sales staff. The remaining 4,600 lamps were put in autos manufactured during the month. Of the autos put into production during September 2011, 90% were completed and transferred to the company’s storage lot. Of the cars completed during the month, 75% were sold by September 30. Instructions(a) Determine the cost of head lamps that would appear in each of the following accounts at September 30, 2011: Raw Materials, Work in Process, Finished Goods, Cost of Goods Sold, and Selling Expenses. (b) Write a short memo to the chief accountant, indicating whether and where each of the accounts in (a) would appear on the income statement or on the balance sheet at September 30, 2011.