...------------------------------------------------------------------------------------------------------------ DISPENSERS OF CALIFORNIA, INC. ------------------------------------------------------------------------------------------------------------ ------------------------------------------------- INTRODUCTION Peter Hynes, creator of a commercial paint spray, sought investors to provide capitalization of $200,000 par value capital stock for his newly patented product. The product had 16 years left on the patent. Hynes was charged with preparing a profit plan projecting the company’s revenues and expenses for the initial year of operation by investors (Anthony, Hawkins, & Merchant, 2011). ------------------------------------------------- Statement of the Problem The major issue in this case is associated with developing a profit plan on a start-up company. Developing these predictions may prove to be difficult, especially for a new small business. In today’s economy, there is a significant amount of uncertainty on the success of small businesses. In fact, 25% of startup businesses fail within the first year and 55% fail by the fifth year (Pozin, 2012). All of these factors play a role in an investor’s decision to provide capital for a startup company. ------------------------------------------------- ALTERNATIVE SOLUTIONS One solution to the problem is to develop the profit plan using the conservatism approach. This ensures that inventors will not be surprised...
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...CASE STUDY DISPENSERS OF CALIFORNIA Q1: How might Hynes and the investors use the profit plan in managing the business? Ans: The profit plan prepared by Hynes can be helpful in forecasting the financial position (assets and liabilities) of the business. This would assist Hynes and investors to plan the business in advance and improve on profits. The information can be used to determine the solvency of the business by showing how much assets are available for payment of liabilities and dividends. Profit plan can also help in predicting the progress of the business and ascertain the amount of capital employed in business. It can prove as a good tool for budgeting and can uncover many potential bottlenecks before they occur. Hynes and investors may use the profit plan to decide on goals and objectives that can serve as benchmark for evaluating subsequent performance. Q2: How might the projected transactions impact the company’s balance sheet? (Think about each transaction in terms of its impact on both the basic accounting equation and specific accounts.) Ans: Each of the projected transactions from the case study have been filled out in the worksheet (see following page) designed based on the basic accounting equation, Assets = Liability + Owner’s Equity. Q3: Prepare a profit plan in the form of an income statement for the first year of operations. Ans: |INCOME STATEMENT FOR PROJECTED ONE YEAR OF OPERATIONS ...
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...Microfridge Issues a) How to produce? b) Customer? c) Sanyo offer? d) How to distribute? Distributor or direct method? (Collaborator) e) Cost of the product and profit from it? (Pricing) Objectives 1. To be able to introduce the micro fridge. 2. Target the academic institutions and hotels. 3. Arrive at a competitive price that gives him at least 15% return. 4. Find a manufacturer? Constraints Low capital - Robert has just $50,000 to start up his business, which is eventually not enough. Manufacturing problem – GE, Amana and other domestic manufacturers were not interested. SANYO and Samsung agreed to manufacture his product provided Bennett agreed to pay all the upfront cost. Administration, Legal, Patent & other miscellaneous expenses: Besides upfront and basic product cost Bennett has to pay for these expenses as well. Potential buyers: Bennett was not very sure of his targeting customers. 1. Patent the electronic circuitry and use the patent to raise capital (loan from bank or find an investor). 2. Bennett should try to negotiate with Sanyo or Samsung, to pay the upfront cost of $170,000 once the sales starts. 3. Choose the way of delivering the product, distributor or direct? Uniqueness of the product - Compact. Less power consuming. Ability to switch between the appliances. (Competitiveness) Target customers - college hostels, hotels, hospitals, service apartments, dormitories. (Customer) ...
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...paint spray, offered to invest in a new corporation with a capitalization of $200,000 par value capital stock to further develop, manufacture, and market the spray and its related equipment. Before making their investment, the investors asked Hynes to prepare a profit plan projecting the company’s initial year of operation along with an end-of-year balance sheet. Hynes agreed to prepare the requested information incorporating the following projected transactions: 1. In return for signing his patent over to the new company, which was to be called Dispensers of California, Inc., Hynes would receive 60 percent of the company’s capital stock. For their part, the investors would contribute $80,000 cash for a 40 percent interest in the company. 2. Incorporation costs, $2,500 3. Equipment to be used in assembling the paint spray dispensers, $85,000. 4. Out-of-pocket labour and development costs to redesign the paint dispenser to facilitate more efficient assembling, $25,000. 5. Component part purchases, $212,100. 6. Short- term loan from local banks, $30,000. (Loan to be repaid before the end of the year with $500 interest.) 7. Manufacturing payroll, $145,000 8. Other manufacturing costs (excluding component part costs), $62,000. 9. Selling, general, and administration costs, $63,000. 10. Ending component parts inventory cost, $51,100. 11. Sales, $598,500 (all received in cash.) 12. All incorporation and product redesign costs expensed as incurred...
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...The Facilities Planning and Management Service Center has plans to make couple changes at California State University, Fullerton. These has been talk of a budget coming in and with this budget they are aiming to add things that can provide a more environmental friendly environment in the campus. More and more schools have promoted recycling and composting program in order to achieve a goal of zero waste. In order to create Steven G. Mihaylo Hall into the most recyclable building on campus, we start with creating signature (posters, signs, flyers). Since the materials used to create signature can be easily found in the Facilities Planning and Management Service Center, we do not need to purchase any materials or resources. As a result, no budget is needed in this part. Second, recycling station will be set up by the beginning of Fall Semester 2015. From Recycle Away, LLC website, the recycle station costs $379.99 plus tax. As we mentioned before, three bins will be set up on the first and second floor of Steven G. Mihaylo Hall. As a result, total budget $1,139.97 plus tax is used in the recycle station. After raising student’s awareness about recycling by setting up the three main recycle station, we continue to put more resources in the Steven G. Mihaylo Hall in order to make it be the most recyclable building on campus. During Fall semester 2016, all classrooms will be have recycling containers for recycling cans and plastic bottles. For the recycling container, we choose large...
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...manufacturing company and had established a reputation for identifying new consumer trends. Tesca Works Inc. is a California-based generator manufacturing company. The company is well known for manufacturing large, heavy-duty generators at a reasonable cost. One of its greatest achievements is that its generators can be easily modified or customized for different applications. Also, Tesca Works currently builds commercial appliances. The company is considering an expansion of its current product line to include refrigerator and maybe, sometime in the future, consumer appliances. Mr. Burton feels that due to high energy prices, consumers will be more willing to consider purchasing new efficient appliances. Tesca Works Inc. is a California-based generator manufacturing company. The company is well known for its innovation and ability to produce high quality products at a reasonable cost. One of its greatest achievements is that its manufacturing processes are adaptable to other durable goods. Also, Tesca Works currently builds commercial appliances. 2 Profile of Tesca Works Tesca Works, Inc. was established by the Smith brothers in 1880 as the Logging Saw Company. The firm started manufacturing large steam saws to serve the logging industry which processed lumber. Their customers were construction companies that provided housing for the population increase in California. The Smith brothers quickly realized that the times were changing. They started looking for the technologies...
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...enjoyed eating at China Buffet because of its affordability, delicious food, and the beautiful setting. The price of their buffet is $10 per person, and it includes beverages. There are a variety of salads in their salad station: fruit, vegetable, and seafood. Their main meal is composed of chicken, pork, beef, and fish. For dessert, they serve ice cream, cookies, and different kinds of cakes. For their beverages, they serve soda, milk, juice, and chocolate milk, but tea is my favorite. The food is excellent so it’s well worth the price. China Buffet’s food is excellent and healthy. They have food stations for meat lovers and vegetarians. Their newly-opened sushi and hibachi bar is the restaurant’s crowning glory. Sushi and California maki is my starter with matching wasabi sauce. I tried their hibachi too, but it fills me up right away. The seafood station is consisting of shrimp, crab meat, clams and mussels. They have different kinds of shrimp meal. I tried their crispy shrimp which was coated with flour and egg and some seasoning. I love the crispiness of its shell and the softness of the shrimp’s meat. Their chicken satay blends well with fried rice. Their “Happy Family” meal that is common in the Chinese restaurant is so delicious. They...
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...Project Management • SME for GPhA and other MFR clients • SCTF • PDSA Current Legislative Environment States ePedigree - California 2015/2016 THS = Transaction history (shipped) RTH = Transaction history (received) = Product information = Statement of accuracy/certification PI S Data Package/Records THS1 R1 TH THS2 PI R1 THS3 TH R2 TH PI S3 R1 TH R2 TH R3 TH PI S1 S1 S2 S1 S2 S1 S2 S3 Manufacturer Wholesaler Secondary Wholesaler Dispenser Trading partners pass product information and all prior transaction history upon each change of ownership. Electronic Pedigrees in California “Pedigree” means a record, in electronic form, containing information regarding each transaction resulting in a change of ownership of a given dangerous drug, from sale by a manufacturer, through acquisition and sale by one or more wholesalers, manufacturers, repackagers, or pharmacies, until final sale to a pharmacy or other person furnishing, administering, or dispensing the dangerous drug. The pedigree shall be created and maintained in an interoperable electronic system, ensuring compatibility throughout all stages of distribution. Pedigree includes: MFR name / address & registration number, drug name, quantity, dosage form and strength, transaction date, invoice number, container size, number of containers, expiry, lot number. California Law – Main features • Unit – case level serialization – Inference = Aggregation by MFRs and anyone downstream opening a case....
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...The program I am going to talk about in this case report is the Prescription Drug Monitoring Program (PDMP) in the United States. A brief history about the Prescription Drug Monitoring Program, through 1989, nine Prescription Drug Monitoring Program has been established. Two were located in state Attorneys General offices (California 1939 and Pennsylvania, 1972); two departments of Public Safety (Hawaii, 1943 and Texas, 1981) one in Department of Substance Abuse Services (Illinois, 1961); one in a Board of Pharmacy; and one in a Department of Consumer Affairs, Bureau of Health Professions (Michigan, 1988). How PDMPs are organized and operated varies among states. Each state determines which agency houses the PDMP; which controlled substances must be reported; which types of dispensers are required to submit data (e.g., pharmacies); how often data are collected; who may access information in the PDMP database (e.g., prescribers, dispensers, or law enforcement); the circumstances under which the information may (or must) be accessed; and what enforcement mechanisms are in place for noncompliance. A lot of people die from overdose of drugs in the United States and from drug abuse, not only that but there a lot of non-medical drug use in the United States as well. According to the Congressional Research Service Seven million individuals aged 12 or older (2.7% of this population) were current nonmedical users of Prescription or psychotherapeutic drugs in 2010 over 1 million emergency...
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...Definition Formal Definition: A writing machine that produces characters which strike the paper through an inked ribbon. Details: Typewriter prints letters one at a time on a medium such as paper when the user presses keys on the keyboard. Before the advent of word processors and computers, the typewriter was the only way for people to produce printed text in an efficient and rapid manner, and typewriters in fact continue to be used in some offices today. To use the typewriter, the typist presses a key which activates a lever attached to the corresponding letter, number, or symbol. As the lever is pushed forward, it strikes a ribbon which is impregnated with ink, and then the paper, leaving an impression of the desired symbol behind. Example: Typewriter are divided into two general classes the Manual and Electronic typewriter. Comparison: Typewriters have a ribbon and carriage holding a roller, the front of the case holds the keyboard. When you type on a typewriter the carriage and ribbon move from left to right. While a computer, before you saved what you type is only for temporarily shown on the monitor you can still edit it when there’s an error. There similarity is both utilized with ink; they are also mechanical and there keyboard are just the same. Word Derivation: The Italian Guseppe Ravissa created a photo type typewriter called cembalo serivano o macchina de scrivere a tasti. Source: http://www.thefreedictionary.com/typewriter, http://en...
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...manufacturing company and had established a reputation for identifying new consumer trends. Tesca Works Inc. is a California-based generator manufacturing company. The company is well known for manufacturing large, heavy-duty generators at a reasonable cost. One of its greatest achievements is that its generators can be easily modified or customized for different applications. Also, Tesca Works currently builds commercial appliances. The company is considering an expansion of its current product line to include refrigerator and maybe, sometime in the future, consumer appliances. Mr. Burton feels that due to high energy prices, consumers will be more willing to consider purchasing new efficient appliances. Tesca Works Inc. is a California-based generator manufacturing company. The company is well known for its innovation and ability to produce high quality products at a reasonable cost. One of its greatest achievements is that its manufacturing processes are adaptable to other durable goods. Also, Tesca Works currently builds commercial appliances. Profile of Tesca Works Tesca Works, Inc. was established by the Smith brothers in 1880 as the Logging Saw Company. The firm started manufacturing large steam saws to serve the logging industry which processed lumber. Their customers were construction companies that provided housing for the population increase in California. The Smith brothers quickly realized that the times were changing. They started looking for the technologies...
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...Problem-Solution Speech General Purpose: To Persuade and provide a solution Specific Purpose: To help my audience understand the amount of litter that is produced by cigarettes Thesis: Cigarette pollution is the worlds largest litter and it must be addressed. Introduction: 1. A man strolls casually down the street, looks around and takes one last puff from his Marlboro then he casually throws it in the direction of the nearest street drain. This is a situation we have all seen and maybe even performed. At best the cigarette lays there on the ground and a street sweeper may pick it up. However the more likely thing to happen is that he makes his shot in the drain or it soon rains and the water takes the cigarette but down the drain with it, it will follow the same path millions take every year. It flows underground and will eventually make it to out waterways. According to (www.cigarettelitter.org/) Globally, approximately 4.3 trillion cigarette butts are littered every year. Smokers in the USA account for over 250 billion cigarette butts, in the UK 200 tonnes of butts are discarded, and Australian smokers litter over 7 billion cigarette butts annually. In most Western countries cigarette butt litter accounts for around 50% of all litter. Cigarette butt litter is a major problem at our beaches, in the ocean and throughout the watersheds which carry water, trash and debris to our beaches. Cigarette butts discarded...
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...manufacturing company and had established a reputation for identifying new consumer trends. Tesca Works Inc. is a California-based generator manufacturing company. The company is well known for manufacturing large, heavy-duty generators at a reasonable cost. One of its greatest achievements is that its generators can be easily modified or customized for different applications. Also, Tesca Works currently builds commercial appliances. The company is considering an expansion of its current product line to include refrigerator and maybe, sometime in the future, consumer appliances. Mr. Burton feels that due to high energy prices, consumers will be more willing to consider purchasing new efficient appliances. Tesca Works Inc. is a California-based generator manufacturing company. The company is well known for its innovation and ability to produce high quality products at a reasonable cost. One of its greatest achievements is that its manufacturing processes are adaptable to other durable goods. Also, Tesca Works currently builds commercial appliances. 2 Profile of Tesca Works Tesca Works, Inc. was established by the Smith brothers in 1880 as the Logging Saw Company. The firm started manufacturing large steam saws to serve the logging industry which processed lumber. Their customers were construction companies that provided housing for the population increase in California. The Smith brothers quickly realized that the times were changing. They started looking for the technologies...
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...Written Analysis and Evaluation of TABLE OF CONTENTS 1. Title Page…………………………………………………………………….page 1 2. Table of Contents……………………………………………………………page 2 3. History and Background……………...…………………………………..pages 3-5 4. Products and Services………………...…………………………………..pages 6-7 5. Financial Summary………………….……………………………………pages 8-9 History and Background Kirk Perron, the founder of Jamba Juice, had a desire of self-business since he was very young. At the age of 16 he started to work at Vons, bagging groceries, and ultimately he became assistant manager at Safeway. This process helped him to gain 10 years of valuable retail experience. At the age of 25, he stop his day job and worked late night stocking groceries and started working out and bicycling during the day. Usually after exercising, he would buy a smoothie, which was healthier than frozen drinks. This eventually put the ideas in his mind to open his own smoothie store. Kirk Perron started to gather his people to help him launch the business. He met his director of research and developer, Joe Vergara, at Safeway store who already was involved in the juice bar business, Kevin Peters who became director of partnership development, and Linda Ozawa the head of marketing. One of the obstacles that Kirk Perron faced at the start of the business was the fact that he could not convince the bank to get loan. Therefore, he had to sell his apartment and borrow money from his mother and his friend...
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...A 5s Implementation Plan For The Shipping Department at Helical Products Co. By Eric William Walker A Senior Project submitted In partial fulfillment of the requirements for the degree of Bachelor of Science in Industrial Engineering California Polytechnic State University San Luis Obispo Graded by: Checked by: Date of Submission: Approved by: EXECUTIVE SUMMARY Helical Products Company is a business that manufactures flexure products, such as couplings and u-joints. As part of a movement towards lean manufacturing, Helical Products Company of Santa Maria, California is need of a principle that will help them continuously improve their shipping department. A study of 5S, a lean principle focused on waste reduction, will be done to investigate opportunity for implementation. A literature review takes a peek on research of lean manufacturing history, lean workbook/ tutorials and lastly case studies and journal articles. The output of research provides a design plan for Helical using 5S and other lean principles compatible with 5S, such as error proofing and Value Stream Mapping. A list of suggestions based on analysis and feedback from the Helical shipping department is provided. Lastly, a 5S manual catered for Helical Products Company is attached in the appendix. 1 TABLE OF CONTENTS Executive Summary....................................................................................................................................... 1 Introduction .......
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