Category: Uncategorized

Joseph and Diana Cohen live in Pleasantville, New Jersey

Question
	

Tax Form
Resolved Question:
Instructions:
Please complete the required federal individual income tax return forms for the following taxpayers. Unless instructed otherwise, the information provided is for the taxpayers’ 2012 tax year. Please complete their 2012 tax return. Ignore the requirement to attach the form(s) W-2 to the front page of the Form 1040. If required information is missing, use reasonable assumptions to fill in the gaps.
Joseph and Diana Cohen live in Pleasantville, New Jersey. Joseph is the Vice President of Sales at a small start-up company. Diana is a former advertising executive who currently consults with former clients. She also serves on the Board of Directors of an advertising company. The Cohens have three children: Rebecca (18), Alan (15) and David (12). During the year, Rebecca left home to attend a liberal arts college. The Cohens plan to file a joint tax return. The Cohens provided the following information: Joseph’s Social Security number isNNN-NN-NNNN/p>
Diana’s Social Security number isNNN-NN-NNNN/li>
Rebecca’s Social Security number isNNN-NN-NNNN/li>
Alan’s Social Security number isNNN-NN-NNNN/li>
David’s Social Security number isNNN-NN-NNNN/li>
The Cohen’s mailing address is 85 North Maple Drive, Pleasantville, New Jersey 08233
Rebecca, Alan, and David are tax dependents for federal tax purposes
Joseph Cohen reported the following the following information relating to his employment during the year:

Company
Gross Wages
Federal Income Tax Withholding
State Income Tax Withholding
Alternative Energy
$115,325
$28,230
$13,400

The above amounts do not reflect any income items described below. . Joseph’s employer withheld all applicable and appropriate payroll taxes on all income for which it was required to withhold. 

Diana Cohen received the following revenue during the year (she uses the cash method of accounting).
Consulting revenue reported to her on a form 1099-MISC, Box 7
High-end Retail $32,000
Jensen’s Health Products $8,500
Strategic Solutions $3,750
Board of Directors fees reported to her on a form 1099-MISC, Box 7
Natural Sunshine, Inc. $6,500
During the year, Diana paid the following business expenses:
Consultant-related
Airfare $2,900
Hotel $1,450
Meals $390
Parking $320
She drove 290 business miles for her consulting related activities (she has documentation to verify)

Board of Director-related-
Meals $125
Hotel $225
She drove 315 business miles for her Board of Director activities (she has documentation to verify)
Neither business required the filing of forms 1099 to report payments made during the tax year. In addition, Ms. Cohen drove a 2010 Lexus purchased on January 1, 2010 for all of her business mileage. She drove the vehicle a total of 10,605 miles during the year for all purposes. She has written documentation to support the mileage amounts. She also has access to another vehicle for personal purposes.
The Cohens also received the following during the year:
Interest income from First Bank of New Jersey $320
Interest income from Patterson, New Jersey School District $200
Interest income from U.S. Treasury Bond $350
Interest income from General Mills corporate bond $400
Qualified dividend income from Rio Tinto $1,500
Qualified dividend income from Microsoft $750
Qualified dividend income from Cooper Tire $200
Qualified dividend income from Cardinal Health $425
Qualified dividend income from Union Pacific $140
Qualified dividend income from Procter & Gamble $190
Qualified dividend income from PepsiCo $225
Qualified dividend income from Kellogg $200
Qualified dividend income from Abbott Labs $275
Qualified dividend income from 3M $350
Dividend income (not qualified) from China Fund $2,000
The Cohens did not own, control or manage any foreign bank accounts nor were they a grantor or beneficiary of a foreign trust during the tax year.
The Cohens had the following activity in their brokerage account during the year. All transactions were reported on a form 1099-B with Box A checked:
Sold 2,000 shares of Microsoft 7/1/CY (current year) $22,500
Sold 75 shares of Apple 4/15/CY $28,750
Sold 350 shares of Cooper Tire 10/14/CY $14,700
Sold 1,000 shares of Cardinal Health 9/3/CY $35,000
Sold 50 shares of Union Pacific 1/7/CY $2,750
Purchased 100 shares of Procter & Gamble 7/10/CY $7,700
Purchased 75 shares of Apple 4/18/CY $29,000
Purchased 350 shares of Cooper Tire 11/1/CY $14,000
Purchased 350 shares of PepsiCo 5/14/CY $32,000
Purchased 300 shares of Kellogg 10/14/CY $21,000
Relevant tax basis/holding period information related to sales of securities in the current year:
Purchased 2,000 shares of Microsoft on 5/1/CY for $21,000
Purchased 200 shares of Apple on 3/8/2010 for $90,000
Purchased 300 shares of Cooper Tire on 1/12/2009 for $9,000
Purchased 50 shares of Cooper Tire on 6/28/CY for $2,000
Received 1,000 shares of Cardinal Health from Diana’s father as a gift on 10/10/96. Donor’s basis was $7,000. FMV at the date of the gift was $41,000
Purchased 100 shares of Union Pacific on 9/5/PY (prior year) for $6,000

The Cohens have a $43,000 long-term capital loss carry forward from their prior tax year.
The Cohens received a New Jersey state tax refund of $400 in the current year relating to their prior year New Jersey Individual Income Tax return filed in April of the current year. The Cohens did not pay the alternative minimum tax in the prior year and they received full benefit for all of the state tax income taxes they paid and deducted in the prior year.
Diana is a 10% owner in an advertising agency Bright Ideas (“BI”) (EIN 20-1234567). BI is a Subchapter S corporation. The company reported ordinary business income for the 2013 year of $150,000. Sarah acquired the stock several years ago. Her basis in the stock before considering her income allocation was $92,000. Sarah is a passive owner with respect to this entity.
Diana is a 20% owner in Natural Sunshine, Inc. (“NS”) (EIN 24-9876543). NS is a Subchapter S corporation. The company reported an ordinary business loss for the year of ($80,000). Sarah acquired the stock several years ago. Her basis in the stock before considering her loss allocation was $45,000. Sarah is a passive owner with respect to this entity.
Joseph received 5,000 shares of restricted (common) stock from his employer on July 1 of the current year. The terms of the restricted stock grant are such that if Joseph is still employed by Alternative Energy on July 1 in five years the entire 5,000 shares will vest and become his property. Joseph, upon the advice of his tax advisor, prepared and filed an IRC Section 83(b) election on July 8, of the current year. The value of the shares on July 1 was $5 per share. Joseph estimates the value of the shares in five years will be at least $150 per share. Joseph notified Alternative Energy about the IRC Sec. 83(b) in a timely manner. None of the income tax consequences of this restricted stock grant were reported in the $115,325 reported as part of his gross wages above.
In May, Joseph was injured at home in an accident. The accident restricted Joseph from working for about a month. During this time, Joseph received $15,000 in disability payments attributable to a disability insurance policy. The disability policy premiums were paid on Joseph’s behalf as a nontaxable fringe benefit. 
The Cohens paid the following expenses during the year:
Dentist (unreimbursed by insurance) $1,500
Doctors (unreimbursed by insurance) $ 2,425
Prescriptions (unreimbursed by insurance) $ 675
Real property taxes on residence $7,525
Vehicle property tax based upon value $1,250
Mortgage interest on principal residence $12,550
Margin interest paid to broker $600
Contribution to United Way $2,000
Contribution to American Cancer Society $5,000
Contribution to neighborhood drive to oppose development project $500
Contribution to the Temple Mount Synagogue $12,000
Fee paid to Mouser, Johnson, and Hintze CPAs for tax preparation $450

The Cohens also donated clothing, electronics, furniture and other household goods to the Salvation Army of Pleasantville, New Jersey on April 15. Estimated thrift value of the goods donated is $275.
Miscellaneous Information
On September 1, the Cohens paid $200 in foreign taxes attributable to the dividend received from the China Fund.
During the year, the Cohens paid for Rebecca’s tuition payments to attend The College of Liberal Arts of New Jersey (CLA). Rebecca attended the spring/summer and the fall semesters as a full-time student. Total amount paid by the Cohens during the year for tuition was $9,000 and $2,000 for books. Rebecca also used $6,000 from a scholarship received from CLA to pay the rest of the tuition. Rebecca was not required to perform any services as a condition of accepting the scholarship. Rebecca was not employed during the year. CLA’s address and employer identification number (EIN) is as follows:
The College of Liberal Arts of New Jersey
65 Ivory Tower
Penns Grove, NJ 08069
EIN- 22-5698324
The Cohens would like to contribute to the Presidential Election Campaign. The Cohens would also like to receive a refund (if any) of any tax they may have overpaid for the year. Their preferred method of receiving the refund is by check
	

Espinosa Corporation had $1,100,000 in invested assets, sales of $1,210,000

Question
	

True or False: Please indicate whether each statement is true or false. (2 points per question)
1. The standard cost is how much a product should cost to manufacture.
2. Because accountants have financial expertise, they are the only ones that are able to set standard costs for the production area.
3. An unfavorable cost variance occurs when budgeted cost at actual volumes exceeds actual cost.
4. A centralized business organization is one in which all major planning and operating decisions are made by top management.
5. The plant managers in a cost center can be held responsible for major differences between budgeted and actual costs in their plants.
6. Property tax expense for a department store's store equipment is an example of a direct expense.
7. Differential revenue is the amount of increase or decrease in revenue expected from a particular course of action as compared with an alternative.
8. The product cost concept includes all manufacturing costs plus selling and administrative expenses in the cost amount to which the markup is added to determine product price.
9. When a bottleneck occurs between two products, the company must determine the contribution margin for each product and manufacture the product that has the highest contribution margin per bottleneck hour.
10. Care must be taken involving capital investment decisions, since normally a long-term commitment of funds is involved and operations could be affected for many years.
11. Average rate of return equals average investment divided by estimated average annual income.
12. Managers depend on product costing to make decisions regarding continuing operations, advertising, and product mix.
13. The single plantwide overhead rate method is very expensive to apply.
14. In the just-in-time (JIT) philosophy, unexpected downtime is the result of unreliable processes.
15. In a just-in-time (JIT) system, the work in process account will show more transactions than in a traditional cost system.
Multiple Choice (2 points per question):
16. If the actual quantity of direct materials used in producing a commodity differs from the standard quantity, the variance is termed:
a. controllable variance
b. price variance
c. quantity variance
d. rate variance
17. The Joyner Corporation purchased and used 126,000 board feet of lumber in production, at a total cost of $1,449,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.5 board feet per unit and a standard price of $12 per board foot. Actual production was 23,000 units.
Compute the material price variance.
a. 63,000F
b. 63,000U
c. 6,000F
d. 6,000U
18. The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows:
Standard: 25,000 hours at $10 $250,000
Actual: Variable factory overhead 202,500
Fixed factory overhead 60,000
What is the amount of the factory overhead volume variance?
a. $12,500 favorable
b. $10,000 unfavorable
c. $12,500 unfavorable
d. $10,000 favorable
19. Espinosa Corporation had $1,100,000 in invested assets, sales of $1,210,000, income from operations amounting to $242,000, and a desired minimum rate of return of 15%.
The profit margin for Espinosa is:
a. 20%
b. 22%
c. 15%
d. 32%
20. Materials used by Bristol Company in producing Division C's product are currently purchased from outside suppliers at a cost of $10 per unit. However, the same materials are available from Division A. Division A has unused capacity and can produce the materials needed by Division C at a variable cost of $8.50 per unit. A transfer price of $9.50 per unit is negotiated and 30,000 units of material are transferred, with no reduction in Division A's current sales.
How much would Division C's income from operations increase?
a. $0
b. $90,000
c. $15,000
d. $60,000
21. The balanced scorecard measures
a. only financial information
b. only nonfinancial information
c. both financial and nonfinancial information
d. external and internal information
22. All of the following should be considered in a make or buy decision except
a. cost savings
b. quality issues with the supplier
c. future growth in the plant and other production opportunities
d. the supplier will make a profit that would no longer belong to the business
23. What cost concept used in applying the cost-plus approach to product pricing includes only desired profit in the "markup"?
a. Product cost concept
b. Variable cost concept
c. Sunk cost concept
d. Total cost concept
True or False: Please indicate whether each statement is true or false. (2 points per question)
1. The standard cost is how much a product should cost to manufacture.
2. Because accountants have financial expertise, they are the only ones that are able to set standard costs for the production area.
3. An unfavorable cost variance occurs when budgeted cost at actual volumes exceeds actual cost.
4. A centralized business organization is one in which all major planning and operating decisions are made by top management.
5. The plant managers in a cost center can be held responsible for major differences between budgeted and actual costs in their plants.
6. Property tax expense for a department store's store equipment is an example of a direct expense.
7. Differential revenue is the amount of increase or decrease in revenue expected from a particular course of action as compared with an alternative.
8. The product cost concept includes all manufacturing costs plus selling and administrative expenses in the cost amount to which the markup is added to determine product price.
9. When a bottleneck occurs between two products, the company must determine the contribution margin for each product and manufacture the product that has the highest contribution margin per bottleneck hour.
10. Care must be taken involving capital investment decisions, since normally a long-term commitment of funds is involved and operations could be affected for many years.
11. Average rate of return equals average investment divided by estimated average annual income.
12. Managers depend on product costing to make decisions regarding continuing operations, advertising, and product mix.
13. The single plantwide overhead rate method is very expensive to apply.
14. In the just-in-time (JIT) philosophy, unexpected downtime is the result of unreliable processes.
15. In a just-in-time (JIT) system, the work in process account will show more transactions than in a traditional cost system.

Multiple Choice (2 points per question):
16. If the actual quantity of direct materials used in producing a commodity differs from the standard quantity, the variance is termed:
a. controllable variance
b. price variance
c. quantity variance
d. rate variance
17. The Joyner Corporation purchased and used 126,000 board feet of lumber in production, at a total cost of $1,449,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.5 board feet per unit and a standard price of $12 per board foot. Actual production was 23,000 units.
Compute the material price variance.
a. 63,000F
b. 63,000U
c. 6,000F
d. 6,000U
18. The standard factory overhead rate is $10 per direct labor hour ($8 for variable factory overhead and $2 for fixed factory overhead) based on 100% capacity of 30,000 direct labor hours. The standard cost and the actual cost of factory overhead for the production of 5,000 units during May were as follows:
Standard: 25,000 hours at $10 $250,000
Actual: Variable factory overhead 202,500
Fixed factory overhead 60,000
What is the amount of the factory overhead volume variance?
a. $12,500 favorable
b. $10,000 unfavorable
c. $12,500 unfavorable
d. $10,000 favorable
19. Espinosa Corporation had $1,100,000 in invested assets, sales of $1,210,000, income from operations amounting to $242,000, and a desired minimum rate of return of 15%.
The profit margin for Espinosa is:
a. 20%
b. 22%
c. 15%
d. 32%
20. Materials used by Bristol Company in producing Division C's product are currently purchased from outside suppliers at a cost of $10 per unit. However, the same materials are available from Division A. Division A has unused capacity and can produce the materials needed by Division C at a variable cost of $8.50 per unit. A transfer price of $9.50 per unit is negotiated and 30,000 units of material are transferred, with no reduction in Division A's current sales.
How much would Division C's income from operations increase?
a. $0
b. $90,000
c. $15,000
d. $60,000
21. The balanced scorecard measures
a. only financial information
b. only nonfinancial information
c. both financial and nonfinancial information
d. external and internal information
22. All of the following should be considered in a make or buy decision except
a. cost savings
b. quality issues with the supplier
c. future growth in the plant and other production opportunities
d. the supplier will make a profit that would no longer belong to the business
23. What cost concept used in applying the cost-plus approach to product pricing includes only desired profit in the "markup"?
a. Product cost concept
b. Variable cost concept
c. Sunk cost concept
d. Total cost concept
25. All of the following qualitative considerations may impact upon capital investments analysis except:
a. time value of money
b. employee morale
c. the impact on product quality
d. manufacturing flexibility

26. All of the following are factors that may complicate capital investment analysis except:
a. the leasing alternative
b. changes in price levels
c. sunk cost
d. the federal income tax
27. The Nite Lite Factory produces two products - small lamps and desk lamps. It has two separate departments - finishing and production. The overhead budget for the finishing department is $550,000, using 500,000 direct labor hours. The overhead budget for the production department is $400,000 using 80,000 direct labor hours. If the budget estimates that a desk lamp will require 1 hours of finishing and 2 hours of production, how much factory overhead will be allocated to each unit of desk lamps using the multiple production department factory overhead rate method with an allocation base of direct labor hours?
a. $11.10
b. $4.91
c. $5.00
d. $10.00
28. Using a plant-wide factory overhead rate distorts product costs when:
a. products require different ratios of allocation-base usage in each production department
b. significant differences exist in the factory overhead rates used across different production departments
c. both A and B exist
d. either A or B exist
29. Which of the following is characteristic of a traditional cost system?
a. Many work in process account transactions
b. Reliance on financial performance measures
c. Many process control points
d. All of the above
30. The local college is aggressively working in reducing the time that a student needs to enroll for each semester. All except one of the following changes is helping in their efforts.
a. Counselors are specializing in common degree plans.
b. One application is good at the Community college and at the transferring University.
c. A one stop area includes registration, admissions, advising, and ID’s. Each working closely with each other.
d. Reduce the number of degrees being offered.

Problems:
31. Diamond Company produces a chair that requires 5 yds. of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 40,000 yards at a cost of $7.60. Determine the (a) price variance, (b) quantity variance, and (c) cost variance (6 points).
32. Some items are omitted from each of the following condensed divisional income statements of Willis Inc (8 points):
Division L Division M Division N
Sales $ (1) $320,000 $580,000
Cost of goods sold 480,000 120,000 $ (5)
Gross profit $220,000 $ (3) $180,000
Operating expenses 95,000 160,000 $ (6)
Income from operations $ (2) $ (4) $ 75,000
(a) Determine the amount of the missing items, identifying them by number.
(b) Based on income from operations, which division is the most profitable?
33. Delicious Cake Factory normally sells their specialty cake for $22. An offer to buy 100 cakes for $18 per cake was made by an organization hosting a national event in the city. The variable cost per cake is $12. A special decoration per cake will add another $1 to the cost. Determine the differential income or loss per cake from selling the cakes (10 points).
34. 
Year 6% 10% 12%
1 .943 .909 .893
2 1.833 1.736 1.690
3 2.673 2.487 2.402
4 3.465 3.170 3.037
5 4.212 3.791 3.605
6 4.917 4.355 4.111
7 5.582 4.868 4.564
8 6.210 5.335 4.968
9 6.802 5.759 5.328
10 7.360 6.145 5.650
A project is estimated to cost $273,840 and provide annual cash flows of $60,000 for seven years. Determine the internal rate of return for this project, using the above table (6 points).

35. Nite Lite Factory produces two similar products - small lamps and desk lamps. The total plant budget is $800,000 with 640,000 estimated direct labor hours. It is further estimated that small lamp production will have 375,000 direct labor hours and desk lamp production will require 265,000 direct labor hours (10 points). 
(a) Determine the single plant factory overhead rate based on direct labor hours.
(b) How much is the factory overhead cost per unit if each small lamp uses 3 hours per unit?
(c) How much is the factory overhead cost per unit if each desk lamp uses 2.5 hours per unit?
(d) How much total factory overhead will be allocated to the small lamp production if 130,000 units are produced during the period?
(e) How much total factory overhead will be allocated to the desk lamp production if 104,000 are produced during the period?
	

BBA 3651 Assessment I

Question
	
Question 1
 
Charismatic leadership is included under:
Answer

influence theories.

behavioral theories.

trait theories.

contingency theories.
4 points 
Question 2
 
Which of the following are characteristics that help a leader be successful?
Answer

Acting with an insensitive abrasive, intimidating style

Being overly ambitious, self-centered, thinking of next job, playing politics

Over managing, being unable to delegate or build a team

Genuinely interested in other people and find ways to bring out the best in them
4 points 
Question 3
 
A learning leader emphasizes:
Answer

relationships.

stability.

competition within the organization.

rational management.
4 points 
Question 4
 
Effective leaders and effective followers are:
Answer

people with different traits.

people with different behaviors.

the same people, playing the same role.

the same people, playing different roles at different times.
4 points 
Question 5
 
Which of the following BEST represents leadership involvement?
Answer

Maintaining public relations, influencing followers, and shared purpose

Influencing followers, maintaining stability, and punishment

Creating change, influencing followers, and shared purpose

Shared purpose, encouraging social activities, and employee training
4 points 
Question 6
 
Which of the following is an organizational characteristic for the learning leadership era?
Answer

Cross-functional teams

Facilitate change and adaptation

Administrative principles

Functional management
4 points 
Question 7
 
Why is leadership considered an art?
Answer

Leadership takes practice and experience, as well as personal exploration and development.

Leadership skills and qualities can be built through reading good books and interacting with successful leaders.

Leadership skills are derived from setting personal and organizational goals.

Leaders with charisma characteristic can lead and motivate followers to collaboratively work successfully.
4 points 
Question 8
 
Most leaders recognize that trying to maintain stability in a world of change is:
Answer

possible because of globalization.

a losing battle.

an important goal.

the goal of crisis management.
4 points 
Question 9
 
Leadership experts agree that effective leaders:
Answer

have the courage to act on their beliefs.

lack self-awareness.

are not sure what they stand for.

are overall indecisive individuals.
4 points 
Question 10
 
Which of the following statements BEST describes vision?
Answer

A vision is a picture of the present.

A vision is a desired past.

A vision is an ambitious view of the future.

A vision is based on individual wants and not a team.
4 points 
Question 11
 
Why do some managers reach a plateau, get fired, or become forced to take early retirement?

Your response should be at least 200 words in length. You are required to use at least your textbook as a source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Answer
30 points 
Question 12
 
Management and leadership are not the same. Explain in detail.

Your response should be at least 200 words in length. You are required to use at least your textbook as a source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Answer
	

What are the constraints in conducting an effective value chain analysis

Question
	

What are the constraints in conducting an effective value chain analysis?
 
What can be done to mitigate or overcome constraints?

How frequently should a firm’s value chain be analyzed and why is this important?
	

general business data bank

Question
	
SHORT
ANSWER



 1. List the six dimensions of the general
environment.



ANS: 





 2. List three visible artifacts of an
organization's culture.



ANS: 





 3. List two reasons why ceremonies are held in
an organization.



ANS: 



 4. Name one of the two dimensions that the
categories of culture are based on.



ANS: 





 5. Name one of the two dimensions that
organizations with high-performance cultures emphasize.



ANS:	

business managment data bank

Question
	
1. Carmen is
working through a process to ensure her company of the right number of people
with the right skills to meet their goals in delivering service and outputs to
their customers. Carmen is engaged in:

 a) forecasting.

 b) human resource planning.

 c) recruiting.

 d) selecting.

 e) estimating labor demand.



 

2. If the
labor supply exceeds labor demand, HR needs can best be met by:

 a) succession planning.

 b) training or retraining.

 c) recruiting from the outside.

 d) reducing pay or work hours.

 e) subcontracting.



 



3. If the
labor demand exceeds labor supply, HR needs can best be met with a response of:

 a) training or retraining.

 b) work sharing.

 c) inducements to quit.

 d) reducing work hours and/or pay.

e)
replacing quits with external
hires.



 



4. If the
labor demand is expected to match labor supply, HR needs can best be met with a
response of:

a)
training or retraining
employees.

b)
replacing quits with external
or internal hires.

c)
reducing work hours and/or
pay.

d)
inducements to quit.

e)
paying overtime to employees.



 







5. A
restaurant chain is forecasting its needs for managers, assistant managers and
wait staff for next year. Currently, 10 restaurants each have their own
managers. They experience a 45% manager turnover yearly. They plan to open 4
more restaurants next year. Their projected need for managers for next year
will be: (Round your answer up to the next full position.)

 a) 9.

 b) 10.

 c) 11.

 d) 12.

 e) 13.



 



6. This same
restaurant chain is projecting its wait staff needs. Currently, they have 90
total staff at their ten restaurants. They experience 100% turnover in a year.
They will need ____ wait staff next year. (Round your answer up to the next
full position.)

 a) 45

 b) 60

 c) 90

 d) 126

e)
252



 

7. An accounting firm plans to open 3 new branches. They
currently have 4 branches with 4 accountants each. Each new branch will also need 4 accountants,
and they experience a yearly 30% turnover among existing accountants. Their projected need for accountants to fill
these new positions will be: (Round your answer up to the next full position.)

a)
17.

b)
20.

c)
23.

d)
25.

e)
27.



 







8. A
quantitative forecast:

 a) is able to project trends into the future
without historical data.

 b) can take any variables into consideration an
HR professional might want to consider.

 c) is very helpful in a dynamic business
environment.

 d) is subject to a judgment error by the expert
using the technique.

 e) relies on previous relationships between
staffing levels and other variables.



 



9. Qualitative
forecasts:

 a) are more accurate than quantitative
forecasts.

 b) are more flexible in their considerations
than quantitative forecasts.

 c) are less subject to judgment errors.

 d) require use of historical data.

e)
are without error if the input
data is correct.



 



10. Which
employees in a business will most likely use formal forecasting techniques?

a)
Line managers.

b)
Top-level managers.

c)
CEOs.

d)
HR personnel.

e)
Middle managers.



 



11. In the
hiring process, generating a pool of qualified candidates for a job constitutes
the _____ phase.

 a) recruitment 

 b) selection

 c) socialization

 d) orientation

 e) interviewing



 







12. The process
of making hire- or no-hire decisions describes the ____ step of the hiring
process.

 a) recruitment 

 b) selection

 c) socialization

 d) testing

e)
interviewing



 

13. You are
part of a team selecting employees at Helping Hands, Inc. All applicants will take a cognitive test and
take part in a structured interview. To
make the process more efficient, you suggest that:

a)
the applicants with the best
cognitive test scores be hired.

b)
the team establishes a cut
score for the cognitive test.

c)
the team eliminate the
structured interview.

d)
the team seek to employ
nontraditional laborers.

e)
none of the above



 



14. ______
involves familiarizing new employees with company policies and procedures and
orienting them to the company in general.

 a) Recruiting

 b) Selection

 c) Socialization

 d) Human resource planning

e)
Interviewing



 



15. Employees
who perform their jobs at above-average levels are:

a)
worth 60% of their salary more
to the organization than average employees.

b)
a detriment, since average
employees may feel they can neglect their duties, knowing that the
above-average employees will make up for them.

c)
may be more unmotivated than
average employees.

d)
worth 40% of their salary more
to the organization than average employees.

e)
a source of brain drain.









16. Under the
best circumstances, selection decisions should include:

a)
the HR department.

b)
line personnel.

c)
line personnel and the HR
department.

d)
the applicant’s future
co-workers.

e)
all of the above



 



17. The most
important way to establish essential characteristics needed to perform a job
well is:

 a) the organization’s culture.

 b) the applicants knowledge of the job.

 c) the job itself.

 d) the SKAs required to perform the job.

e)
the job analysis.



 



18. Determining
the characteristics necessary for good job performance is often difficult
because of the:

 a) changing business environment in which
companies operate.

 b) general lack of accurate job descriptions.

c)
frequent lack of involvement
of management in the job analysis process.

d)
inherent difficulties of
staffing decisions.

e)
fact that any job changes
constantly.



 



19. Most of the
measures used in hiring decisions focus on:

a)
ability.

b)
motivation.

c)
ability and motivation.

d)
personality.

e)
none of the above



 

20. When it comes to job motivation:

 a) it is usually measured by a personality test
during the interview.

 b) poor motivation won't hamper performance if
ability is present.

 c) it is easy to measure and just as easy to
stimulate.

 d) it is the ability to generate good
performance in a person who lacks motivation.

 e) it is largely a function of the
organizational environment within which the person works.



 



21. Recent studies of MBA graduates have
found that the early career success of these graduates seems to be a function
of:

a)
ability.

b)
personality.

c)
motivation.

d)
motivation and ability.

e)
all of the above



 

22. When considering
who should make hiring decisions, it is important to remember:

 a) that the best decisions result from letting
subordinates make the choice.

 b) that it is a natural extension of the HR
function and they are most familiar with the position.

 c) that upper management has the most at stake;
they should make the decision.

 d) that line managers are most knowledgeable
about the job and who must work with the candidate.

 e) never to involve the coworkers since they
tend to choose people like themselves, perpetuating the current culture.



 



23. For which
of the following reasons should HR departments have input in staffing
decisions?

a)
It is a natural extension of
the HR function and they are most familiar with the position.

b)
They ensure that employment practices
are legal.

c)
They will have to work
directly with the new employees, and a good mix of personalities is essential
to ensure cooperation within the business.

d)
It is convenient to have the
HR department take care of contacts and information about applicants.

e)
b and d



 





24. The task of
recruiting is to:

 a) identify the best qualified candidates.

 b) introduce the best candidates to the
organization.

 c) attract a pool of qualified applicants.

 d) ensure all OFCCP requirements are fulfilled.

 e) orient the new employee to the organization.



 



25. The best
recruitment source, that is, one which tends to result in attracting employees
who experience greater loyalty, tenure, and job satisfaction than other
recruiting sources, is:

 a) referrals from current employees.

 b) former employees.

 c) college campus recruiting.

 d) employment agencies.

 e) advertisements.

	

The Surest Concrete Company produces cement in a continuous process

Question
	The Surest Concrete Company produces cement in a continuous process. Two ingredients in the cement are sand, which Surest purchases for $6 per ton, and gravel, which costs $8 per ton. The other ingredients are lumped together and referred to as “Other”. The cost of the other ingredients is $5 per ton. No more than 40 percent of the cement can be sand, and at least 30 percent of the cement must be gravel. The maximum amount of gravel available is 100 tons. The maximum amount available of the “Other” ingredients is 125 tons. The cement sells for $60 per ton. Fractional values of the inputs and outputs are allowed.

The company wants to maximize its profit.

a) Formulate the liner programming problem to maximize the profit.




b) Using linear programming, solve for the optimal solution, identifying the value of the objective function and the variables at optimality. Provide your linear programming solution.






c) Using the sensitivity analysis output from part b, provide any two sensitivity analysis interpretations. One of the interpretations must relate to the objective function and the second one must relate to one of the constraints.






d) How would your answers to a) and b) change, if you wanted to minimize cost and in addition to the other constraints you had to produce at least 325 tons of cement? Using linear programming, solve for the optional solution. Provide your linear programming solution.


You must submit your linear programming formulation and show the linear programming software solution to this problem to receive credit.


#2 Pik-Fast, a chain of convenience stores, is planning to open a new store. The activities required, their immediate predecessors, and the optimistic, most likely, and pessimistic estimates of their times (in days) are provided below.

a) Provide the project network.
b) Identify the critical path and projected project completion time using the expected completion times.
c) Identify the slack times for all activities.
d) Related to the critical path, identify the slack time for each of the other paths.
e) Find the probability that the critical path will be completed within 80 working days.
f) Illustrate or explain why the probability that the critical path will be finished in 80 days or less is not necessarily the probability that the project will be finished in 80 days or less. Assume that times for each activity will not change from what is provided below and no new activities are added nor are the predecessor relationships changed.

Activity	Description	Immediate Predecessors	Optimistic Time (days)	Most Likely Time (days)	Pessimistic Time (days)
A	Select manager	--	10	12	20
B	Select site	--	8	15	22
C	Hire workers	A	17	21	31
D	Basic training	C	3	4	5
E	Secure permits	B	12	18	30
F	Construct building	E	26	30	40
G	Purchase equipment	--	30	45	60
H	Install equipment	F,G	4	6	8
I	Advertise opening	B	15	55	89
J	Final training D,H	2	3	4
K	Stock store	H,I	4	6	8
L	Open store	J,K	1	1	1

#3 The Austin, Texas plant of Computer Products produces external hard drives for personal and small business computers. Gerald Knox, the plant’s production planning director, is looking over next year’s sales forecasts for these products and will be developing an aggregate capacity plan for the plant. The quarterly sales forecasts for the external hard drives are as follows and we will assume that these are accurate:

1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
2,550	2,610	2,520	2,700

Ample machine capacity exists to produce the forecast. Each external hard drive takes an average of 20 labor-hours. In addition, you have collected the following information:

a. Inventory carrying cost is $100 per external hard drive per quarter. The inventory to use in this calculation is the inventory at the end of the quarter.
b. The plant works the same number of days in each quarter, 12 five-day weeks, 6 hours per day.
c. There are 300 units in inventory at the start of this year. They will be used to fill the immediate 1st Quarter demand.
d. The cost of hiring a worker is $800 while the cost of laying off a worker is $950.
e. The straight time labor rate is $22 per hour during the entire year.
f. Overtime work is paid at time and a half (150%) of the straight time work.
g. Outsourcing (contract work) is paid at the rate of $475 per disk unit for the labor and you provide the material
h. The number of workers the company had at the end of last year could produce 2,430 units per quarter. The demand for the first quarter of the next year (year following the year you are analyzing) is projected to be at the 2,700 unit level.
i. In a backlog situation, the customer will wait for his order to be filled but will expect a price reduction each quarter he waits. The backlog costs are $300 per external hard drive for the first quarter the customer waits, $700 for the second quarter the customer waits, and $900 for the third quarter the customer waits. In filling orders, backlog items will always be filled before current quarter items,

Which of the following plans would provide the lowest production cost? Assume that the material and overhead costs are the same in each plan.

i) This plan will continue to use the number of workers employed at the end of last year through this entire year. If the workforce can produce more units during a quarter then there is demand, the workers will still produce all of the units. These units will be used to meet demand in a future quarter. Any additional units required in a quarter that cannot be produced with the given workforce will be obtained through outsourcing.

ii) Using a matching demand plan that would ensure there is no inventory or shortage each quarter. The number of workers used will match the demand so there will be no underutilization and no overtime.

iii) A form of level production where the company successfully shifted the demand so that it was uniform (constant) throughout the entire year. To do this, the company had to reduce the price of each unit shifted to another quarter by $500. The number of workers used will match the demand so there will be no underutilization and no overtime. 
	

Economics – Microeconomics/ Macroeconomics – Three Scenario’s with graphs

Question
	
In economics, they say a picture is worth a thousand words. Below, you will find three scenarios. Your assignment is to discuss the situation by writing the solutions, and then show the solutions and how you got here in one or more graphs or flowcharts as requested.
Scenario One
In the early part of the last decade, there was an overproduction of coffee. The price dropped so low that producers' costs were higher than the market price. The reason this happened was that market prices became high before this, and the supply of coffee increased substantially. In the meantime, demand for coffee and everything else remained the same. Price Level 1.
Coffee prices came down again, at first overshooting the former equilibrium price, throwing the coffee market into confusion. In the meantime, gourmet coffee houses began appearing, which began charging a premium for coffee in the period of falling prices. Price Level 2.
Gourmet coffee houses tend to open in high-rent areas and cater to higher income consumers. Because of the change they created for taste and preferences and the higher income market, the gourmet coffee houses had a win-win in a period of falling  prices and increasing retail prices. Price Level 3.
But in the middle of the decade, the party was over, and wholesale prices started increasing because of some shortages caused by weather and the rising overall market prices again. Where is the new equilibrium price?Price Level 4.
Explain the changes in the supply and demand curves based on the above information. Draw a graph showing how the changes affect the price levels, supply and demand.
Scenario Two
You have been asked to discuss the differences between the microeconomic definitions of supply and demand and the macroeconomic differences of aggregate supply and demand. Discuss what determines supply and demand and aggregate supply and aggregate demand. Explain what causes movements along the curve and shifts in the curve for supply and demand and aggregate supply and aggregate demand (make sure that you include price as a variable). Include whether this is an example of the microeconomic definition of supply and demand or the macroeconomic definition of aggregate supply and demand. Most importantly, did this cause a shift in the curves or a movement along the curves? What happened to equilibrium price, supply, demand, aggregate supply or aggregate demand? Describe your graphs.
After Hurricane Katrina, what happened to the price of fish?
After the development of the microchip, what happened to the price of computers?
After the government raised tariffs on imported cheese, what happened to the price of domestic cheese?
Polyester suits have become trendy again. What happens to their price?
Internet auction sites are becoming more popular, and people are using them more and more.
A new health report came out that said red wine lowers cholesterol.
The government raises taxes.
Inflation increases.
Immigration laws are relaxed.
The government increases spending.
Scenario Three
The PPF curve shows the economic choices a country can make about production given scarce resources, a given technology, and a given quantity of inputs. Assume you are a developing country, producing food and clothing at maximum capacity. What could happen when foreign investors start investing in your country?
Discuss what type of foreign investments would be best for the economy’s PPF. What are the opportunity costs of these decisions?
Include what will happen to private and public choices as the economy grows
	

PAD 510 Assignment 3 Position Paper

Question
	This is a continuation of the first and second assignments and uses your accumulated research. Imagine you are two different lobbyists, supporting two different sides of the policy issue you wrote about in Assignment 2.

Submit your Assignment 1 and 2 revisions based on your professor's feedback. You will be graded on your revisions. Then, write a 45 page paper in which you
1. Write aonepage position in favor of the policy.
2. Write a one page position against the policy.
3. Write a one page response to the argument in favor of the policy.
4. Write a one page response to the argument against the policy.
5. Use at least two (2) of the following arguments from Chapter 10 in your paper normative, positive, anecdote, and evidence arguments. Clearly label these to receive credit.
6. Use four (4) credible and reputable sources to support your points.
Note The Assignment 1 and 2 revisions must flow together with Assignment 3 as one seamless paper.

Your assignment must
• Be typed, double spaced, using Times New Roman font (size 12), with one inch margins on all sides; references must follow APA or school specific format. Check with your professor for any additional instructions.
• Include a cover page containing the tile of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length. The Assignment 1 and 2 revisions are not included in the required page length.

The specific course learning outcomes associated with this assignment are
• Interpret what public policy is and how it is created.
• Understand the different policy types, and how policy type influences policy design, policy tool choice, and implementation.
• Use technology and information resources to research issues and in politics, policy, and ethics in the public sector.
• Write clearly and concisely about policy for issues in politics, policy, and ethics in the public sector using proper writing mechanics.	

Financial Planning Problems

Question
	
1. If theinterest is compounded quarterly with 8% APR, which of the following statements is CORRECT?



a. The periodic rate of
interest is 2% and the effective rate
of interest is 4%.

b. The periodic rate of
interest is 8% and the effective rate
of interest is greater than 8%.

c. The periodic rate of
interest is 4% and the effective rate
of interest is less than 8%.

d. The periodic rate of
interest is 2% and the effective rate
of interest is greater than 8%.

e. The periodic rate of
interest is 8% and the effective rate
of interest is also 8%.



2. What is the coefficient of
variation for security a?


 

 

 
  
 
 

 
Probability
 
 

 
Ra(State=?)
 
 

 
Rb(State=?)
 

 

 

 
Boom
 
 

 
35%
 
 

 
0.30
 
 

 
0.06
 

 

 

 
Average
 
 

 
40%
 
 

 
0.10
 
 

 
0.06
 

 

 

 
Recession
 
 

 
25%
 
 

 
--0.15
 
 

 
-0.05
 





a.
1.00

b.
1.25

c.
1.36

d.
1.73

e.
1.90



 



3. You plan to save $6,400 per year, beginning immediately. You will make 4 deposits in an account that
pays 5.7% interest. How much will you have 4 years from today?



a. $22,980.31

b. $22,685.69

c. $26,221.12

d. $29,461.93

e. $31,524.26

 



4. Which
of the following investments would have the highest future value at the
end of 10 years? Assume that the
effective annual rate for all investments is the same and is greater than zero.



a. Investment A pays $250 at the beginning
of every year for the next 10 years (a total of 10 payments).

b. Investment B pays $125 at the end of
every 6-month period for the next 10 years (a total of 20 payments).

c. Investment C pays $125 at the beginning
of every 6-month period for the next 10 years (a total of 20 payments).

d. Investment D pays $2,500 at the end
of 10 years (just one payment).

e. Investment E pays $250 at the end of
every year for the next 10 years (a total of 10 payments).

 

 -250



5. Your
uncle has $300,000 invested at 7.5%, and he now wants to retire. He wants to withdraw $35,000 at the end
of each year, starting at the end of this year.
He also wants to have $25,000 left to give you when he ceases to
withdraw funds from the account. For how
many years can he make the $35,000 withdrawals and still have $25,000 left in
the end?



a. 13.48

b. 14.96

c. 15.71

d. 16.49

e. 17.32

 





6. Suppose
you just won the state lottery, and you have a choice between receiving
$2,550,000 today or a 20-year annuity of $250,000, with the first payment
coming one year from today. What rate of
return is built into the annuity?
Disregard taxes.



a. 7.12%

b. 7.49%

c. 7.87%

d. 8.26%

e. 8.67%

 



7. Which
indenture provision may affect the price of the bond differently? 



a. convertibility

b. sinking fund

c. call

d. restrictions on
dividends

e. collateral

8. Suppose
1-year Treasury bonds yield 4.00% while 2-year T-bonds yield 4.80%. Assuming the pure expectations theory is
correct, what is the yield on a 1-year T-bond expected to be one year from now?



a. 5.61%

b. 5.72%

c. 6.22%

d. 5.44%

e. 6.11%

 

9. Which
of the following factors would be most likely to lead to an increase in nominal
interest rates?



a. Households reduce their consumption and
increase their savings.

b. A new technology like the Internet has just
been introduced, and it increases investment opportunities.

c. There is a decrease in expected inflation.

d. The economy falls into a recession.

e. The Federal Reserve decides to try to
stimulate the economy.

 



10. You
are comparing saving
$100 every month for a year vis-à-vis $1,200 at the beginning of the year. How much extra will you have at the end of
the year by saving $ 1,200 at the beginning of the year instead of saving $100
each month at the end of each month. Use 6% interest rate.



a. $35.51


b. $38.44

c. $60.90

d. $63.90

e. $76.71





11. The real risk-free rate is 3.05%, inflation is expected to
be 2.75% this year, and the maturity risk premium is zero. IBM stock has a risk premium of 0.9%. What is
the equilibrium rate of return on a 1-year Treasury bond?



a. 5.51%

b. 5.80%

c. 6.09%

d. 6.39%

e. 6.71%

 



12. Suppose the real risk-free rate is 3.25%, the average
future inflation rate is 4.35%, and a maturity risk premium of 0.07% per year
to maturity applies to both corporate and T-bonds, i.e., MRP = 0.07%(t), where
t is the years to maturity. Suppose also
that a liquidity premium of 0.50% and a default risk premium of 0.90% apply to
A-rated corporate bonds but not to T-bonds.
How much higher would the rate of return be on a 10-year A-rated
corporate bond than on a 5-year Treasury bond?




a. 1.75%

b. 1.84%

c. 1.93%

d. 2.03%

e. 2.13%

 



13. Dyl Inc.'s bonds currently sell for
$1,180 and have a par value of $1,000.
They pay a $65 annual coupon and have a 15-year maturity, but they can
be called in 5 years at $1,100. What is
their yield to maturity (YTM)?



a. 4.79%

b. 3.69%

c. 4.65%

d. 5.08%

e. 4.36%

 



14. Sadik Inc.'s bonds currently sell for
$1,270 and have a par value of $1,000.
They pay a $105 annual coupon
and have a 15-year maturity, but they can be called in 5 years at $1,100. What is their yield to call (YTC)?



a. 6.89%

b. 5.89%

c. 5.18%

d. 6.54%

e. 6.30%

 

15. Bonds sell at a discount from par
value when market rates for similar bonds are



a. Less than the bond’s coupon rate.

b. Greater than the bond’s coupon rate.

c. Equal to the bond’s coupon rate.

d. Both lower than and equal to the bond’s
coupon rate.

e. Market rates are irrelevant in determining
a bond’s price.



16. Which of the following bonds would
have the greatest percentage increase in value if all interest rates in the
economy fall by 1%?



a. 10-year, zero coupon bond.

b. 20-year, 10% coupon bond.

c. 20-year, 5% coupon bond.

d. 1-year, 10% coupon bond.

e. 20-year, zero coupon bond.



17. O'Brien Ltd.'s outstanding bonds have
a $1,000 par value, and they mature in 25 years. Their nominal yield to maturity is 9.25%,
they pay interest semiannually, and they sell at a price of $975. What is the bond's nominal coupon interest
rate?



a. 7.32%

b. 7.71%

c. 8.12%

d. 8.54%

e. 8.99%

 



18. Cooley Company's stock has a beta of
1.32, the risk-free rate is4.25%, and the market risk premium is5.50%. What is the firm's required rate of return?



a. 10.93%

b. 11.51%

c. 10.13%

d. 8.75%

e. 10.01%

 



19. Porter Inc's stock has an expected
return of 10.75%, a beta of 1.25, and
is in equilibrium. If the risk-free rate
is 5.00%, what is the market risk premium?



a. 5.15%

b. 4.28%

c. 4.32%

d. 4.60%

e. 4.55%

 

 



20. Consider the following information and
then calculate the required rate of return for the Global Investment Fund,
which holds 4 stocks. The market’s required rate of return is
9.50%, the risk-free rate is 7.00%, and the Fund's assets are as follows:



 Stock Investment Beta

 A $200,000 1.50

 B $300,000 -0.50

 C $500,000 1.25

 D $1,000,000 0.75



a. 8.91%

b. 10.06%

c. 6.77%

d. 8.64%

e. 10.42%

 

21. Which of the following statements best
describes what you should expect if
you randomly select stocks and add them to your portfolio?



a. Adding more such stocks will reduce the
portfolio's unsystematic, or
diversifiable, risk.

b. Adding more such stocks will increase the
portfolio's expected rate of return.

c. Adding more such stocks will reduce the
portfolio's beta coefficient and thus
its systematic risk.

d. Adding more such stocks will have no effect
on the portfolio's risk.

e. Adding more such stocks will reduce the
portfolio's market risk but not its
unsystematic risk.



22. Stock A has a beta of 0.7, whereas
Stock B has a beta of 1.3. Portfolio P
has 50% invested in both A and B. Which
of the following would occur if the market risk premium increased by 1% but the
risk-free rate remained constant?



a. The required return on Portfolio P would increase by 1%.

b. The required return on both stocks would increase by 1%.

c. The required return on Portfolio P would remain unchanged.

d. The required return on Stock A would increase by more than 1%, while the return
on Stock B would increase by less than 1%.

e. The required return for Stock A would fall,
but the required return for Stock B would increase.





23. Assume that you manage a $10 million
mutual fund that has a beta of 1.05 and a 9.50% required return. The risk-free rate is 4.20%. You now receive another $5 million, which you
invest in stocks with an average beta of 0.65.
What is the required rate of return on the new portfolio? (Hint: You must first find the market risk
premium, then find the new portfolio beta.)



a. 8.83%

b. 9.05%

c. 9.27%

d. 9.51%

e. 9.74%

  

24. If the current one year CD rate is 3%
and the best estimate of one year CD which will be available one year from today
is 5%, what is the current two year CD rate with 1% liquidity premium?



a.
4.00%

b.
4.50%

c.
5.00%

d.
5.50%

e.
5.75%



(

25. How long approximately does it take to
triple your investment at 6% per year? 



a. 18.9 years

b. 19.5 years

c. 19.7 years 

d. 20.0 years 

e. 22.7 years