1. Most companies, when computing or estimating costs for a job, will add in an overhead cost, often tying that cost to some direct cost, such as direct labor. What costs are usually included in this overhead cost?

2. In lean manufacturing system designs (aka the Toyota production system), the quality control is integrated into the design of the lean shop. How is quality controlled in the job shop?

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1. Minneapolis Manufacturing Inc.’s CEO has asked you to provide the relevant journal entries using the following acquisition information.

Note: The CEO has not decided whether they will purchase Bloomington Re-Bar Company using the “Asset Acquisition Method” or the “Stock Acquisition Method.”

Required:

A. Prepare the journal entryassuming Minneapolis Manufacturing Inc. decided to purchase Bloomington Re-Bar Company for $13,000,000 in an Asset Acquisition.

B. Prepare the journal entryassuming Minneapolis Manufacturing Inc. decided to purchase 100%of Bloomington Re-Bar Company for $13,000,000 in a Stock Acquisition.

C. Prepare the journal entryassuming Minneapolis Manufacturing Inc. decided to purchase 75%of Bloomington Re-Bar Company for $9,000,000 in a Stock Acquisition.

D. For scenario C.(75% Stock Acquisition – above) prepare a CAD. In addition, prepare the necessaryworkpaper elimination entriesnecessary to complete a consolidated financial statement workpaper.

2. St. Paul Sewer Inc. purchased 70%of Pipestone Pipe Inc. in a Stock Acquisition.The CEO of St. Paul Sewer Inc. mentioned that there is an accounts receivable due from Pipestone Pipe Inc. in the amount of $12,000. How should St. Paul Sewer Inc. account for this inter-company (affiliated company) receivable?Provide the journal entrywith your explanation.

3. The Difference between Implied and Book Value account is:

a) an account necessary for the preparation of consolidated working papers.

b) the excess implied value assigned to goodwill.

c) the unamortized excess that cannot be assigned to any related balance sheet accounts

d) used in allocating the amounts paid for recorded balance sheet accounts that are different than their fair values.

Quiz continues on page 2è

Ethics Scenario:

You have just joined a company as a new staff accountant. Your company is in an acquisition mode (acquiring 5 to 10 smaller companies each of the last 4 years). You are excited to hear that you are going with an acquisition team to facilitate another acquisition (Company X). You have been instructed to sit down with Company X’s controller and explain some pre-acquisition (before the acquisition is finalized) accounting expectations.

Expectations for Company X before the acquisition is finalized.

1. Company X is expected to accelerate the payment of liabilities

2. Company X is expected to delay recording the collections of revenue

3. Company X is expected to increase the estimated amounts in reserve accounts

As you are driving to the Company X headquarters, your gut is telling you something is not right? You pull your car over and call your old classmate who is now an auditor for Ernst and Young. You explain the “expectations” and your old classmate provides the following feedback…

(Old Classmate) There are ways that the three expectations could be managedwithin the rules provided by GAAP, but would be regarded by many as pushing the limitsof GAAP.

Not satisfied with your old classmates answer you call your old accounting professor. Your accounting professor reminds you what he used to say in class,

(Old Professor) “There are gray areas in accounting that many accountants will be influenced to step into. Often, this results in unethical behavior (at a minimum) and in many cases results in illegal acts.” “It’s a dangerous path and I recommend that you stay away from gray.”

1. What effect does each of the three items have on the reported net income of the acquired company before the acquisition and on the reported net income of the combined company in the first year of the acquisition and future years?

2. What effect does each of the three items have on the cash from operations of the acquired company before the acquisition and on the cash from operations of the combined company in the first year of the acquisition and future years?

3. If you are the controller of Company X, how would you respond to these suggestions?

 

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1- Mention in details and equations the different of producing phosphoric acid from phosphate?

 

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1. Policy Topic: The country needs investment? Why? How do we pay for it? What will it do for us?

Personal savings is low in the United States. The government runs a budget deficit, and there are also large transfer payment programs in the U.S. Is this connected to, or does this affect any of the following: (a) business investment spending and capital accumulation; (b) long term growth; (c) the U.S. trade balance; (d) the US economic relationship with other countries, like China; and (e) per capita income. Explain. Use math, graphs, and discussion. In particular, consider: (1) national income accounting equations and the three sources of savings (personal, government, foreign); (2) the role of investment in GDP and growth; and (3) the Solow model.

2. Policy Topic: We live in a poor country. Are we doomed to always be poor?

Are some countries doomed to always be poor? Solow’s model suggests that poor countries can achieve a certain level of GDP per capita, but then reach a “steady state.” Explain how/why? And contrast this to the conclusions of the endogenous growth model’s conclusions. Why are the conclusions different? Use math, graphs, and discussion to explain.

3. Policy Topic: We live in a poor country. Would boosting the savings rate fix everything?

If a country increases its savings, it would have more to spend on capital investment, and thus help its production, GDP, and per capita output. Yes? Explain what our different development models would tell policymakers in poor countries about their savings. Use math, graphs, and discussion. In particular, consider both the Solow model and the endogenous growth model,

4. Policy Topic: If we introduce big initiatives to acquire foreign technology, what will happen to us?

Under the Solow Framework, what does an increase in technology do for capital accumulation, growth, and per capita income in a poor country? Use math, graphs, and discussion.

5. Policy Topic: Assume we are in the depths of the 2009 Recession. What should we do?

After the financial crisis began in late 2008, President Bush and then President Obama both introduced heavy stimulus measures to increase output. Using the AS-AD Framework, discuss these measures and all of their effects. How would the Keynesians explain the story? Compare and contrast this to how the classicalists would explain the story. How would both schools suggest the US would get out of a recessionary gap? Use many graphs, math, and discussion. In particular, assume a Classical version of the AS curve; and then separately assume a Keynesian one. Discuss your findings.

1. Policy Topic: We have Stagflation. What can we do?

Janet Yellen and the Federal Reserve are charged with combatting BOTH unemployment AND inflation. Congress doesn’t like either problem, either. If there is another oil shock, this causes the supply curve to shift up, causing both problems: “stagflation” (low GDP and higher prices). Using the AS-AD framework, analyze all of the policy responses and their results. Consider:

a. Contractionary Fiscal Policy

b. Expansionary Fiscal Policy

c. Contractionary Monetary Policy

d. Expansionary Fiscal Policy

e. Combinations of any of the above

f. Do nothing. Assume the Classicalist approach will fix it. (Explain).

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Assignment Four 1. Pick two product categories – one should be a physical good and the other should be a service. For each product that you have selected, outline how the three product levels could be structured (Core – Actual – Augmented) (5 points) ————————————————————————————————————————– As you probably know, brand equity is becoming increasingly important factor to successful brands. Brand equity has the ability for firms to to gain additional market share, at a price premium, with increased customer loyalty, and greater acceptance of new products. It also provides significantly more access to more retailer channels and easier ability to enter new markets. Here are the top 10 brands for 2015 as determined by Millward Brown. 1. Amazon 2. Apple 3. Google 4. Microsoft 5. Visa 6. Facebook 7. Alibaba 8. Tencent 9. McDonalds 10. At&T Factors that may contribute to (or detract from) the building of strong brand equity: • Product range, Relative product quality, Points of differentiation, Retailers used, Retailer prominence, CEO profile, Media (mainstream and blogs/forums), Word-of-mouth, Use of celebrities, Other brand associations, Visibility of the product, Social media ‘connection’, Social ‘status’ of the product, Entertainment or self-identity product, Market share (extent of popularity), Perceived innovation, Perceived integrity, Success of new products, Sales + service staff, Target markets, Market coverage (global?), Time in market, Competitive set, B2C or B2B only, Social responsibility, Competitor’s actions, Employee behavior 2. Have a look at the top 10 brands in the world, what similarities can you see in regards to their marketing activities? (3 points) —————————————————————————————————————————— In this activity, you will first review an excerpt from a marketing industry conference where several marketing managers from different industries are discussing who has the hardest task. You should note that each manager markets a product from a different class of the consumer products classification system – namely, convenience products, shopping products, specialty products and unsought products. MARKETING MANAGER’S DISCUSSION David (marketing manager for a charity): My marketing task is clearly the toughest challenge of anyone else here at the conference. Consumers do not want to give money to charities without being asked directly – there’s nothing in it for them. Julie (marketing manager for a candy bar): I don’t agree, many consumers get a feeling of goodwill by supporting their chosen charities. If you present the offer in the right way it should be an easy sell. Jordan (marketing manager for a high fashion brand): And besides, charities can also market to businesses, which is probably a great market for large-scale fund raising events. David: Sure businesses can be an attractive market, but it’s very competitive, and businesses are often set in their ways and difficult to influence. Individual consumers can be persuaded, but it takes expensive and usually quite direct promotional efforts. Sam (marketing manager for sports shoes): You want to hear about expensive promotions? We have to spend a lot of money with image advertising, often with celebrity endorsements to build a brand. And then we need to spend another pile of money on trade promotions to get in the retailer’s door and then obtain a good in-store position. Julie: Yes but once you’ve built the brand and established the retailer relationships, your job is pretty easy. You don’t have all the logistics challenges that we face marketing candy bars. Not only do we have a perishable product, but we have 1,000’s of retail locations to supply and support with point-of-purchase materials. Jordan: But you also sell a lot of product. Most of your customers and habitual repeat buyers; your sales are so predictable and stable. And everything you bring out a product line extension, it’s guaranteed to bring in reasonable sales. In the fashion business, you can be so successful one year and not sell much the following year if you don’t get the fashion trends right. Sam: But once you’ve got a strong fashion brand, consumers will beat a path to your door and buy your products because of the brand alone. You’ve got exclusive retailers, which mean no competition in-store, whereas our products are compared to competitors side-by-side. Jordan: But your retailers provide most of the customers because of your name, we need to work with our retailers to jointly build the brand and the sales – so you have more control over your marketing activities. 3. For each of the marketing managers above, identify which class of consumer product they market: convenience products, shopping products, specialty products or unsought products. (2 points) 4. Prepare a list of advantages and disadvantages involved in marketing each class of product. Use the points from the above conservation, plus your own ideas. (3 points) 5. In your view, which marketing manager (class of consumer product) has the biggest marketing challenge? Why? (2 points) ————————————————————————————————– Mini Case: A company must manage its product lines carefully. Jefferson Company (who has manufactured high-priced, high-quality sports machines for gyms and sport clubs) recently decided to embark/investigate into new business opportunities which they hoped would remedy/fix their declining sales. The company decided to begin to manufacture and market a line of durable but low-priced machines intended for private use. Using the correct terminology with respect to product line decisions (upward , downward, both direction stretching): (5 points) 6. Describe what Jefferson is attempting to do (2 points) 7. Give a judgment about whether you think the new product line might be a good fit. (2 points) 8. Do you have advice for them on how to improve their performance (1 points) Be sure to explain your rationale and justify your conclusions. Good Luck

Attachments:

Assignment-Fo….docx

 

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