...Broadening Your Perspective Broadening Your Perspective Ideal Manufacturing Company is an Illinois-based company which produces a farm and agricultural related machinery products. Research department is the only department in the company that has been contributing a new products for several years. The research department facilitates only in-house manufacturing departments and assist them in producing farm and agriculture related machine products. The Ideal Company has never sold his research department’s services outside Because of the increasing cost of this department, company is now considering to offer its services outside to absorb the increasing cost. In order to gain the control of its research department management has decided to implement an activity based costing (Kimmel, Weygandt, & Kieso, 2011, "Broadening Your Perspective"). a) Overhead Rates for Activity Cost Pools There are four different cost pools based on the activities of the research department, which includes Product Development, Prototype Testing, Market Analysis and Product Design with the total annual costs of $3,600,000, $1,400,000, $1,050,000,and and $2,350,000, respectively (Kimmel, Weygandt, & Kieso, 2011, "Broadening Your Perspective"). The management should look into the overhead rates based on activity for each pool, which would help the management to take a decision and control the cost. The rates and calculations for each activity cost pool are shown below. Activities...
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...Broadening your Perspectives Xxxxx xxxxxx ACC 561 June 18, 2015. Dr. xxxxxx xxxxxx Broadening your Perspectives The estimated break-even point in annual unit sales of the new product if Martinez Company uses Capital Intensive Method and Labor Intensive Method is described in the following table below. The Martinez Company should use the Capital-intensive manufacturing method if the goal is to produce more product. Therefore, this method is associated with production in high levels and this method adapts to change better than the labor intensive method. Capital intensive production requires more machinery, equipment and sophisticated technological production systems in the production process. Capital intensive production requires a higher level of investment and larger amount of funds and financial resources. A capital intensive production process is mostly automated and able to generate a large output of goods and services. Since capital intensive production relies largely on machinery and equipment, such industries require long term investment, with a high cost involved in maintaining and depreciating equipment. In such a capital intensive production process, it could be very costly to increase output levels as this would require higher investment in such machinery and equipment. If the goal is to reduce cost of production, the Labor Intensive Manufacturing Method should be used. This method also will help the Company if they are attempting to reduce the unemployment...
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...Broadening Your Perspective 18-1 ACC - 561 June 24, 2013 Robert Smith Broadening Your Perspective 18-1 The Martinez Company will be selling its new product for $30 per unit. The incremental selling expenses are estimated at $502,000 annually plus $2 per unit sold. The company is considering two methods of production, the capital-intensive and labor-intensive methods. The following are the manufacturing costs by the two different methods. Capital-Intensive Labor-Intensive Direct Materials $5 / unit Direct Materials $5.5 / unit Direct Labor $6 / unit Direct Labor $8 / unit Variable Overhead $3 / unit Variable Overhead $4.5 / unit Fixed Manufacturing Costs $2,508,000 Fixed Manufacturing Costs $1,538,000 (Kimmel, Weygandt, & Kieso, 2011) I calculated the estimated breakeven points for the annual unit sales of a new product utilizing both the Capital-Intensive and Labor-Intensive methods. For the capital-intensive method, I added the Fixed Manufacturing Cost ($2,508,000) and Estimated Selling Expenses ($502,000) and got the Total Fixed Cost of $3,010,000. The contribution Margin Per Unit is $14. I got this answer by using the formula Contribution Margin Per Unit = Selling Price – Variable Costs ($30 -5 – 6...
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...The Martinez Company has decided to introduce a new product. The new product can be manufactured by either a capital-intensive method or a labor-intensive method. The manufacturing method will not affect the quality of the product. The estimated manufacturing costs by the two methods are as follows: Capital-Intensive Direct Materials $5 per unit Direct Labor $6 per unit Variable Overhead $3 per unit Fixed Manufacturing Costs $2,508,000 Labor Intensive Direct Materials $5.5 per unit Direct Labor $8 per unit Variable Overhead $4.5 per unit Fixed Manufacturing Costs $1,538,000 Martinez market research department has recommended an introductory unit sales price of $30. The incremental selling expenses are estimated to be $502,000 annually plus $2 for each unit sold, regardless of manufacturing method. The problem ask that calculated the estimated break-even point in annual unit sales of the new product if Martinez Company uses the Capital- intensive manufacturing method or the Labor- intensive manufacturing method: a) (1)Using the Capital-intensive method I have come up with the following calculations. Total Fixed Cost = 2508000+502000 = 3010000 Contribution Margin per Unit = Selling Price –Variable Costs = 30 -5 - 6 - 3 - 2 = $14 Breakeven Point in Unit Sales = 3010000/14 = 215000 Units (2) Using the Labor-intensive method I have come up with the following calculations Total Fixed Cost = 1538000+502000 = 2040000 Contribution Margin per Unit = Selling...
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...Broadening Your Perspective Iman-N-Lah Rasheed Acc 561 July 22, 2013 11:59 MST Rachael Jenks Broadening Your Perspective Introduction Ideal Manufacturing Company is located in Sycamore, Illinois and has a research and development department that for many years has been the only contributor to the company’s new farm machinery products. This department only provides services to in-house manufacturing departments, and they all produce agriculture, farm and ranch related machine products. The company has never sold to the outside population but has been long approached by others to do so. Because the cost of running this department are getting so expensive the company is now contemplating selling to the outside to help cover some of the rising cost. The Four Pools & Costs The R & D activities fall into four pools of costs and those are: Market Analysis=$1,050.000, Product Design=$2,350.000, Product Development=$3,600.000 and Prototype Testing=$1,400.000. To help Ideal Manufacturing Company decide if this is something they really want to do they should first look at the activity-based overhead cost rate for each of the four activity pools. When we look at Market Analysis with an annual cost of $1,050.00 and divide that by 15,000 which is the number of estimated drivers we get a sum of $70, for Product Design the annual cost is $2.350.000 and the number of estimated drivers is 2,500 which gives us $940. Product Development has an annual cost of $3,600.000 and...
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...Broadening Your Perspective Demarcus B. Wilson Accounting 561 June-26, 2012 Edward Hastings Abstract In this paper I will discuss the doughnuts business called Super Bakery, Inc. owned by Pittsburgh Steelers' running back Franco Harris. I talk about the different types of ABC systems, which one they used to operate their company, and what changes they had to make to insure that the business continued make a profit while providing excellent service to their customers. Broadening Your Perspective The Super Bakery, Inc. is a Doughnuts company created in 1990 by former Pittsburgh Steelers' running back Franco Harris. They specialize in making vitamin and protein-enriched doughnuts. When the company first started they implemented a standard price for the service no matter where their customers were located. They were operating under the ABC system fixed cost. Fixed cost is a set price for a product or service; items that are related to fixed cost are rent, house payments, and car notes. A lot of businesses use this practice when they have the type of business that has requiring clients. When Super Bakery first started with this cost system on paper it made a lot of sense. Find out what it takes to make the product, find a comfortable margin, and sell. As the company grew it cost more money to get the company the product due to the wide range of locations they were shipping. Soon before later the company seen where they were starting to lose money, so management came together...
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...Anthony Doerr uses many different perspectives in his novel All the Light we Cannot See to convey how different people are affected by the current ongoing war, World War II. Doerr focuses on 2 characters perspectives in his novel; Werner, a intelligent boy enlisted into a nazi training camp and later sent onto the field and Marie-Laure, a blind girl with a passion for knowledge. Werner’s perspective is focused around survival and he does what he is told because he fears for his life. Contrary to this, Marie-Laure has a hopeful perspective because her hope creates her reality in her mind. Doerr uses different perspectives to show how focusing too much on one point of view can obscure reality and make a person blind to the reality of some situations. Werner has a very fearful perspective....
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...Question 1: Describe your specific career aspirations and your reason for pursuing an MBA. This may be the most important essay question you tackle. You must convince the admissions committee that you deserve one of their few, cherished spots. Reference your background, skills and career aspirations, demonstrating how this degree is a bridge to the next step in your professional life. Be sure to speak to how this particular program will help you realize your potential. It's okay to present modest goals. Deepening your expertise and broadening your perspective are solid reasons for pursuing this degree. If you aspire to lofty goals, like becoming a CEO or starting your own company, be careful to detail a sensible, pragmatic plan. Don't be unrealistic. Question 2: What are your principal interests outside of work or school? What leisure and/or community activities do you particularly enjoy? There's more to b-school than the library. The best programs buzz with the energy of a student body that is talented and creative and bursting with personality. They're not just about case studies and careers. Describe how you will be a unique addition to the b-school community. B-school is also a very social experience. Much of the work is done in groups. Weekends are full of social gatherings, and the networking you do here will impact the rest of your career. Communicate that people, not just your job, are an important part of your life. Question 3: Who do you most admire...
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...Lajuana Williams - Associate Level Material Appendix E Collaboration Worksheet Write a 100- to 150-word response to each of the following questions: • What are the advantages of having diversity in a collaborative learning environment? Advantages of diversity in a collaborative learning environment are that it creates a greater variety of perspective, broadening the minds of all members of the group. Diversity also brings about tolerance and understanding of differences. This benefits, everyone has in the group is we all are not the same with learn material what I mean to say is when you have diversity in your group; It well defined goals or missions. The expectations will be meet and accomplished by any means. Having diversity promotes creativity. This will help to create a product or make a decision that is more comprehensive. • How might factors such as diversity, attitude, learning, and work styles affect collaboration? Attitude, learning, and work styles have a definitively greater impact on a team environment than diversity. We work in groups in school to complete projects. In professional and educational settings we work with others to increase productivity to accomplish whatever the goal is quickly and efficiently. I believe that teamwork makes the dream work. With different diversity, attitude, learning, and work styles it really makes a difference in collaboration. it is very difficult to establish a positive teamwork environment. ...
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...ACC 290 Week 2 Assignment Click Link Below To Buy: http://hwcampus.com/shop/acc-290-week-2-assignment/ Broadening Your Perspective 3-2 The financial statements of The Hershey Company and Tootsie Roll are presented below. THE HERSHEY COMPANY CONSOLIDATED STATEMENTS OF INCOME For the years ended December 31, 2011 2010 2009 In thousands of dollars except per share amounts Net Sales $6,080,788 $5,671,009 $5,298,668 Costs and Expenses: Cost of sales 3,548,896 3,255,801 3,245,531 Selling, marketing and administrative 1,477,750 1,426,477 1,208,672 Business realignment and impairment (credits) charges, net (886) 83,433 82,875 Total costs and expenses 5,025,760 4,765,711 4,537,078 Income before Interest and Income Taxes 1,055,028 905,298 761,590 Interest expense, net 92,183 96,434 90,459 Income before Income Taxes 962,845 808,864 671,131 Provision for income taxes 333,883 299,065 235,137 Net Income $628,962 $509,799 $435,994 Net Income Per Share—Basic—Class B Common Stock $2.58 $2.08 $1.77 Net Income Per Share—Diluted—Class B Common Stock $2.56 $2.07 $1.77 Net Income Per Share—Basic—Common Stock $2.85 $2.29 $1.97 Net Income Per Share—Diluted—Common Stock $2.74 $2.21 $1.90 Cash Dividends Paid Per Share: Common Stock $1.3800 $1.2800 $1.1900 Class B Common Stock 1.2500 1.1600 1.0712 ................................. Required Based on the information contained in these financial statements, determine the normal balance for: Tootsie Roll Industries...
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...Associate Level Material Appendix E Collaboration Worksheet Write a 100- to 150-word response to each of the following questions: * What are the advantages of having diversity in a collaborative learning environment? Diversity is a key for almost any situation. When kids and adults can interact with others different from themselves, it makes a vast difference in their consciousness and ability to get along in a positive way with peers. Advantages of diversity in a collaborative learning environment are that it creates a greater variety of perspective, broadening the minds of all members of the group. Diversity also brings about tolerance and understanding of differences. I always tell my daughter who is only seven years old, It is important that she interacts with other children. It helps build confidence and early team work. It helps you to not be afraid to speak to one another and to say what is on your mind. We start early has young adults to work as a team when we need to. How might factors such as diversity, attitude, learning, and work styles affect collaboration? I believe that teamwork makes the dream work. With different diversity, attitude, learning, and work styles it really makes a difference in collaboration though my mother always says everybody needs somebody sometimes. Living Life Abundantly is a team effort! We can all realize our dreams and goals at an accelerated rate by using a little teamwork. We work in teams on our jobs. We work...
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...scope and view of arguing perspectives from all sides. For so many years, and I’d ashamedly admit until I read this chapter, I too equated justice with fairness. It’s just so easy to state that when justice is served, everyone is treated fairly. However, that’s just not always the case. Fair treatment is relative, depending on one’s opinion or who it is that you’re speaking with. The text reads that justice is individualistic. In this nation, there is a tendency to group so many entities and operate through collectivism. Entire races, genders, and cultures are often thrown into the same barrel of idealism and many are judged based on the actions of one. When it comes to race relations, it is easy for one African American male to be harassed in a store or while driving, because there is a collectivistic view of all black males by some. Just when I thought my mind had expanded beyond the point on fairness, I was then presented with the argument of equal treatment. Another blanket statement quoted in the chapter is, “everyone should be treated equally.” At first glimpse, this is a plausible statement. But when you begin to peel the onion of what equal treatment looks like, it changes your view by broadening your perspective. I was compelled through the examples provided to see that there are cases where preferential treatment is necessary based on need and circumstance. I thought the text would bring out instances where regardless of your profile, you are treated...
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...population that does not necessarily mean you are vulnerable it could just mean that you are not the highest of population regarding the factors that make you unique. " Because of lack of legal recognition for their unions, gay and lesbian parents can face heavier tax burdens, higher costs for health insurance, and diminished financial protections in the event of death or disability "(Crary, 2011). Same-sex marriages who are only recognized in 6 states, do not get the status of being married, which means that when same-sex marriages are not classified as a "family" which means they cannot receive assistance through government agencies like healthy start, WIC, or any other service that Job and Family Services can offer heterosexual couples. " Broadening the definition of "family" to allow LGBT families to benefit fully from government safety-net programs, and revise the tax code to provide equitable treatment for these families " (Crary. 2011). Allowing for same-sex couples to be classified as "families" will open up more possibilities for these families. Blood is thicker then stereotypes that people put on individuals. My brother is in a same-sex marriage, even though living in Ohio, it is not recognized. Although, according to most of the documentation, even if you live in the six states that do recognize it, the...
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...Liberal Arts education and a changing time Today, an education is deemed necessary to get a good paying job, at least that is what our parents told us growing up. Although, our parents failed to mention the most important part, an education is more than going to school to get a job that pays well, it is where you find your place in the world, where some find lifelong friends, and many find what they love in life. With all of the new technological advancements going on around us, it seems that with all that change, education is also evolving. Back when only high class men attended universities, the middle class moderate never had a chance to get a higher education. Things like, “How quickly do i want to achieve my degree?” And “What do i want to major in?” Were not topics of conversation, but that is not the case in this modern world. Now a days, there are hundreds of Vocational “training” schools popping up what seems to be everyday. They are career specific schools, with little or no emphasis on the humanities. They are broadcast frequently on our television commercials with catchy slogans and songs, “Get your degree online in less than 10 months” and “Don’t wait! call now for a quick, easy and affordable college degree!” Are all of these readily accessible “training schools” really helping our society flourish? Or are they having a negative effect on the future of our country? But I must debate that college is a place of development, and should not be a school of fast paced...
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...has invested in his garden it can be argued that the familiarity being developed overtime is essential for one to derive a sense of belonging. However, our tendency to seek connection with the things we are well acquainted with can also result difficulties to connect with those that we do not. As a result, encountering with new or unfamiliar elements can potentially challenge one’s sense of belonging. In Allan Bailey’s novel The China Coin, Leah’s initial stay in China has caused her discomfort due to the conflicting socio-cultural context between China and her. The use of idiomatic expression “Leah dropped her eyes” after learning Joan’s frightening choice of dish demonstrates the potential for a place’s culture to challenge the perspectives of the foreign minds. Furthermore, the imagery employed when...
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