News feature story Article Example | Topics and Well Written Essays - 1000 words

News feature story - Article Example He has said that the Migration Occupations in Demand List (MODL) is outdated and has one hundred and six occupations, many of which are less skilled and no longer in demand. The Senator has announced a new Skilled Occupation List (SOL) intended to focus on high value trades and professions and to deliver highly skilled immigrants and crackdown on persons who, through low-value education courses, are in search of permanent residency in Australia. The list will be introduced mid-year and a review of points test used to assess migrants to ensure the selection of the best and brightest will take place. SOL is a critical reform in the overhaul of the skilled migration program by the Government and it closes the door on people seeking to manipulate the migration system. All offshore General Skilled Migration’s applications placed before 1 September 2007 will be withdrawn. These people applied overseas under easier standards, including a less rigorous work experience requirement and lower English language skills. Only persons with pertinent qualifications in occupations that it lists will qualify for independent general skilled migration. Worthy to note is the fact that the new SOL introduction does not change the concessions announced in February that provide generous transition arrangements for current and former international students looking for a visa under the General Skilled Migration (GSM) program.

Comparing into Battle Essay Example for Free

Comparing into Battle Essay Comparing Into Battle with Spring Off, I find their poets attitudes are quite different. Grenfell who is poet of Into Battle thinks war is a glorious and noble thing, but Owens attitude is very clear and totally different from Grenfells which is that war is evil and brutal. In order to convey their own attitudes and purposes, these two poets all use different language styles and imagery. In the poem Into Battle, Grenfell uses lots of vocabulary of nature and spring as a background, these all help to show a harmony and sense which crease a peaceful tone to describe war, it is good for the reader to agree poets attitude. However, spring also is used in Spring Off, Owen makes a stark contraction between surviving in the war and new life in the spring landscape which surrounds troops. For Into battle, it uses pathetic fallacy positively to show its purpose. The sun gives him warmth, the Glowing earth gives him life, the light foot winds lend him speed etc. these descriptions all let soldiers or even readers to feel energy and power. In the last two stanzas, the poet also gives extra importance through the use of capital letters, like Destined Will is obviously some sort of supernatural force, as a kind of god or power of destiny. In the last section of this poem, there is a lot of figurative, as the burning moment and the thundering line of battle are metaphors to describe the heat and noise of the action. All these create a sense of heat and energy on the battlefield again and it matches his idea of the war. There are several powerful images in Spring Off too, which add to the strength of Owens description, such as buttercups and brambles are personified as explained above. This creates pathetic fallacy which Grenfell used as well and it strengthens the description. Moreover, the language which is used in the poem reflects the contrasts. At the beginning, descriptions all positive, words fed, carelessly slept and eased all shows soldiers movements and suggests they are relaxed and comfortable. However, Owen uses but and shorter, sharper sounds of stood still and stark blank sky to creates contrast immediately. In Spring Off, Owen uses rhetorical question to ask why the survivors don not speak of their dead comrades and talk of their glorious death and convey the massage of the poem which is that there is no glory in this war. These two poems all use natural elements in the poem to express their attitudes of war. Because of different attitudes, I can see that Spring Off is described in a negative way, and Julian writes Into Battle positively. Therefore, it makes two poems style and language and purpose all different.

Safeguard Function Of The International Atomic Energy Agency Politics Essay

Safeguard Function Of The International Atomic Energy Agency Politics Essay The safeguards of the International Atomic Energy Agency (IAEA) have a critical role in increasing and maintaining vigilance for the international community against the potential military usage of the nuclear technology. Based upon the Nuclear Non-Proliferation Treaty (NPT), Article III, the nations with bounding ratifications are to not divert nuclear energy from peaceful uses to nuclear weapons or other nuclear explosive devises, and general IAEA inspections and safeguards are the inspector role to ensure that the NPT measures are carried out. Safeguards of the IAEA are the tools, which the IAEA have, in order to ensure world peace literally. Objective of the IAEA safeguards can be summarized to the following: Timely detection of significant quantities of fissile nuclear material. (Significant quantities defined as minimum amount needed for a nuclear explosive device) Detection of undeclared nuclear material and activities in a State The problem here is that the current safeguard functions of the International Atomic Energy Agency, despite numerous strengthening measures, have failed on numerous occasions. Without any direct introduction to disputable events, failures of detection in timely manner or accurate detection was unable to be conducted in regions such as the middle east, regions of former Soviet states, Korean Peninsula, and the Indian subcontinent. Current safeguard function of the IAEA is extremely heavily dependent on individual States transparency of information and in-field verification process, and stronger and tighter inspection is the issue on the current contention. Definition of Key Terms: Strengthening: The word strengthening can be viewed in many different aspects. In this context, however, can be focused in relatively few meanings. One, to reinforce the measures in the current safeguard measures; potentially to reconstruct, rephrase, or add certain measures into the safeguard measures of the IAEA based upon past failures and successes. Two, to strengthen the implementation of the safeguard measures in each respective states via encourages in more invasive means perhaps even at the implementation of the UN Charters Chapter 7 with resolution through the UN Security Council. Safeguard function of the IAEA: As previously mentioned IAEA safeguard function involves the two key functions (Please view introduction if necessary). Quoting from the former IAEA Direction General, Mohamed ElBaradei, Inspections by an impartial, credible third party have been a cornerstone of international nuclear arms control agreements for decades. Where the intent exists to develop a clandestine nuclear weapons program, inspections serve effectively as a means of both detection and deterrence. Core functions of the safeguards of IAEA involve information gathering, threat assessments, and verification of peaceful uses of nuclear energy. In a state level, IAEA works as a third-party observer that receives, confirms, or discards information regards to nuclear technology. IAEA has powers granted by ratification of resolutions and treaties no more no less. Major Players and Their Positions: Democratic Peoples Republic of Korea: Only member to have withdrawn from the IAEA. It has shown capacity to enrich uranium, and other than its repeated nuclear testing has not only confirmed its intent for nuclear explosives, its missile technology indicates a significant threat to the non-nuclear proliferation. Islamic Republic of Iran: IAEA and Iran has a long history from the post revolution period when Iranian nuclear programs became active. Irans nuclear program was established for the first time in 1953 after the CIA supported coup. Most significantly, the recent discovery of the uranium enrichment facility and the self-declaration of nuclear state have significantly elevated its tension with the international community and IAEA measures. Regarding the issue at hand, Iran will most definitely be against any hard-line stance. United States of America: US been one of the strongest supporter and funding member of the IAEA member states. Just recently, President Obama has approached the issue with additional 225 million US dollar increase in US share of the IAEA (During his presidential campaign. It was his campaign promise #194.) Phrasing given in the same speech, as well as numerous actions done by the current administration in response to Iran and the DPRK indicates in strong support of the strengthening of IAEA safeguard functions. Bush administration had taken a hard-line stance in regards to aspiring nuclear powers, but Obama has taken softer, more diplomatic solutions to the issue. Regardless, the increase in measures of verification stance firm. So, US would most likely go against a IAEA with actual conflict with the respective governments, but will be for IAEA safeguards expansion to increase vigilance. United Kingdom of Great Britain and Northern Irelands: UK is one of the five nuclear-weapon states, and despite its exclusion from NPT with IAEA safeguards, UK has voluntarily opened all fissionable material in facilities or parts within the UK exception to those concerning national security. With regards to actual IAEA safeguard, UK government had certain statements made during the past regards to how the IAEA is too strongly dependent on willingness of nations to cooperate showing the rooms for a hard-line stance on the issue. UK has pushed for sanctions on Iran recently, once again to the point, pointing towards the stronger-IAEA-friendly UK. French Republic: France has recently made statement through the ministry of foreign and European affairs spokesperson to pursue efforts to shed full light on Irans past and present nuclear activities. France is, like the other P5 nations, nuclear weapon states and notable example of peaceful nuclear power usage around the world. More than 70% of its electricity is powered by nuclear power generation. Regards to issue, it will press for a strengthening measures, perhaps not to the line of hard-line stance due to pressure from the PRC, but certainly to an acceptable length. Russian Federation: Russia had previously blocked a IAEA resolution against Iran in earlier 2008, but has recently shifted direction following the DPRK and Iranian actions in the past two years. More recently, Russia backed an IAEA draft resolution on Irans nuclear program in later last year with more leniency towards hard line stance. Cooperation between Russia and IAEA has been noteworthy, and with the recent Russian administrations actions it is most likely that the Russia will push for stronger IAEA safeguards. Peoples Republic of China: China has shown unexpected leniency towards recent Iran incident. Through the Foreign Ministry spokesman Ma Zhaoxu, China have made a statement in favor of negotiation and peaceful settlement. These evidences point towards the fact that China will be against hostile strengthening of the IAEA safeguards. Timeline of Key Events: 1957: The IAEA is set up as autonomous body under the United Nations. 1970: NPT is signed by 188 states and comes into force. IAEA is given specific role of defining and inspecting safeguards. 1986: Chernobyl, Ukraine experiences a devastating catastrophe. IAEA investigates and reports on the consequences IAEA leads on the studies and research. 1994: North Korea withdraws its membership after a dispute over IAEA inspections. 1998: IAEA claims to unable to exercise its right to full and free access at Iraq 2002: Iraq Action Team resumes work under its new name: Iraq Nuclear Verification Office. On the same year, DPRK has also expelled IAEA inspectors and removed surveillance equipment from its nuclear facilities. 2003: Following IAEAs report of Irans failure to meet NPT requirements, IAEA resolution for Iranian uranium enrichment facility is passed. Iran signs an agreement to allow tougher inspection. 2004: More of Iranian nuclear activities that were maintained secrete were discovered and the IAEA resolution comes short of UN sanctions. IAEA calls for suspension of Irans nuclear programs, but Iran initially rejects the proposal soon to accept towards the end of the year. 2005: IAEA adopts resolution urging Iran to stop its uranium enrichment program, but IAEA once again finds Iran in non-compliance with the NPT. 2006: IAEA votes to report Iran to the UN Security Council, and Iran gave threats to resume its research. Later the same year, DPRK nuclear test threatens the international security. 2007: IAEA determines that Iran is continuing and increasing its nuclear activates. IAEA determines in May that Iran can develop a nuclear warhead within three to eight years, and DPRK again expels IAEA inspectors. Iran allows and disallows IAEA inspectors within 3 months of time with IAEA pushing for peaceful negotiation and US pushing for sanctions. 2008: IAEA determines the Pakistans nuclear weapons of danger to potential thefts to Islamic radicals. No measures taken. IAEA once again increases suspicion of secrete nuclear weaponry development, and soon CIA discovers nuclear reactors under construction. DPRK again bans IAEA inspectors. 2009: Additional nuclear test conducted by DPRK, and Iran reveals second uranium enrichment plant. Iran refuses to accept international uranium enrichment offer and IAEA again passes resolution against Iran. 2010: Iran has declared itself to be a nuclear state. The significance of the timeline lies with the trend. Immediate notable trends are the lateness in IAEA identification of threats and incapacity to resolve the issue. A state violates certain treaties, nothing is done. Perhaps IAEA resolution or perhaps even an UN Security Council resolution ultimately to not achieve its goal. Iran and DPRK, as an example, has developed their nuclear program right under IAEAs nose. Detection was literally years behind, and even when discovered the corresponding actions were a failure. Strengthening of the safeguard function of the IAEA is critical to solving the issue. Relevant Treaties and UN Resolutions: Treaties: Most of them are self-explanatory. Agreement on the Privileges and Immunities of the IAEA: Self-explanatory. Sets the boundaries of the IAEA activities. Cornerstone of IAEAs existence. Potential boundaries of IAEA safeguards functions. Convention on Nuclear Safety: Specific resolution targeted for the purposes of monitoring of operations and regulations of nuclear power plants within each respective states. Part of the IAEA safeguards functions. Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management: Self-explanatory. Treaty regards to IAEA monitoring of the nuclear waste material. Also part of IAEA safeguard functions. Convention on the Physical Protection of Nuclear Material: Self-explanatory. Treaty in regards to actual military and security issues of protection on nuclear material. Inspection and threat assessment is part of IAEA safeguard functions. Treaty on Non-Proliferation of Nuclear Weapons: Key part of the debate as it is NPTs article III is the main purpose of IAEA safeguards. Mentioned in both the introduction and the definition of key terms. Treaty for the Prohibition of Nuclear Weapons in Latin America, The African Nuclear-Weapon-Free Zone Treaty, South Pacific Nuclear Free Zone Treaty, Southeast Asia Nuclear Weapon-Free Zone, Agreement between the Republic of Argentina, the Federative Republic of Brazil, the Brazilian-Argentine Agency for Accounting and Control of Nuclear Materials and the IAEA for the Application of Safeguards, Verification Agreement between the IAEA and the European Atomic Energy Community: All of these are self-explanatory. They regard to nuclear weapons free zone and multilateral agreements regards to nuclear weapons and materials to be inspected by the IAEA; Part of the safeguard functions. Treaty Banning Nuclear Weapons Tests in the Atmosphere, in Outer Space and Under Water: Self-explanatory. Underline parts of the IAEA safeguard function regards to nuclear weapons tests. UN Resolutions UN Security Council Resolutions 1373: UN Security Council resolution concerns with international terrorism and the illegal movement of nuclear materials. The resolution emphasizes the need to enhance coordination of national, regional, and international efforts to strengthen a global response to the spreading nuclear threat. Underlines importance of the third party observer, IAEA, and the safeguard functionss significance in international peace. UN Security Council Resolutions 1540: UN Security Council resolution to enforce appropriate effective laws which prohibit non-State actors to manufacture, acquire, possess, develop, transport, transfer or use nuclear weapons, in particular for terrorist purposes. The measures included involve IAEA and some key actions of safeguard functions. Previously Attempted Solutions and their Failures: This will vary upon the viewpoint of the matter. In certain significance, IAEA measures have failed, based on the past development of nuclear threat, therefore all their actions are failures. Because the so called strength of the IAEA measures is significantly dependent on individual states tolerance, it has changed often over time. For instance the Bush administrations push against the IAEA to strengthen measures against Iran and DPRK has only resulted in more significant failure. In a sense all that has been done failed.

William Faulkners A Rose for Emily is a Gothic Horror Tale :: A Rose For Emily, William Faulkner

William Faulkner is widely considered to be one of the great American authors of the twentieth century. Although his greatest works are identified with a particular region and time (Mississippi in the late nineteenth and early twentieth centuries), the themes he explores are universal. He was also an extremely accomplished writer in a technical sense. Novels such as The Sound and the Fury and Absalom, Absalom! feature bold experimentation with shifts in time and narrative. Several of his short stories are favorites of anthologists, including "A Rose for Emily." This strange story of love, obsession, and death is a favorite among both readers and critics. The narrator, speaking for the town of Jefferson in Faulkner's fictional Yoknapatawpha County, Mississippi, tells a series of stories about the town's reclusive spinster, Miss Emily Grierson. The stories build up to a gruesome revelation after Miss Emily's funeral. She apparently poisoned her lover, Homer Barron, and kept his corpse in an attic bedroom for over forty years. It is a common critical cliche to say that a story "exists on many levels." In the case of "A Rose for Emily", this is the truth. Critic Frank A. Littler, in an essay published in Notes on Mississippi Writers regarding the chronology of the story, writes that "A Rose for Emily" has been read variously as ". . .a Gothic horror tale, a study in abnormal psychology, an allegory of the relations between North and South, a meditation on the nature of time, and a tragedy with Emily as a sort of tragic heroine." These various interpretations serve as a good starting point for discussion of the story. The Gothic horror tale is a literary form dating back to 1764 with the first novel identified with the genre, Horace Walpole's The Castle of Ontralto. Gothicism features an atmosphere of terror and dread: gloomy castles or mansions, sinister characters, and unexplained phenomena. Gothic novels and stories also often include unnatural combinations of sex and death. In a lecture to students documented by Frederick L. Gwynn and Joseph L. Blotner in Faulkner in the University: Class Conferences at the University of Virginia 1957-1958, Faulkner himself claimed that "A Rose for Emily" is a "ghost story." In fact, Faulkner is considered by many to be the progenitor of a sub-genre, the Southern gothic. The Southern gothic style combines the elements of classic Gothicism with particular Southern archetypes (the reclusive spinster, for example) and puts them in a Southern milieu.

Operations Management at Bajaj

Markets Motorcycles: Overall Two-wheeler sales of Indian players is dominated by the domestic market and, within it, by motorcycles. After growing at a sharp clip from the late 1990s, motorcycle sales witnessed a 7. 8% drop in volume in 2007-08, due to falling domestic demand as a result of rising interest rates and many private sector banks reducing their retail lending exposures. 2008-09 saw a modest increase in motorcycle sales of 4%, driven largely by growth in cash sales. Even so, sales of motorcycles (both domestic and exports) in 2008-09 has been lower than what it was in 2006-07, before the slowdown hit this sector. ABOUT BAJAJ:- The group comprises of 34 companies and was founded in the year 1926. The group's flagship company, Bajaj Auto, is ranked as the world's fourth largest two- and three- wheeler manufacturer and the Bajaj brand is well-known across several countries in Latin America, Africa, Middle East, South and South East Asia. Founded in 1926, at the height of India's movement for independence from the British, the group has an illustrious history. The integrity, dedication, resourcefulness and determination to succeed which are characteristic of the group today, are often traced back to its birth during those days of relentless devotion to a common cause. Motorcycles : Domestic Sales for Bajaj Auto The company classifies motorcycles into three segments, based on consumer categories and approximate price points. These are: a) Entry segment. These are typically 100 cc motorcycles at a price point in the neighbourhood of Rs. 35,000. Bajaj AutoDespite the slight uptick in the industry’s sales volume, Bajaj Auto did not maintain volume growth, for reasons that will be discussed below. From 1. 66 million motorcycles in 2007-08, the company’s domestic sales fell by 23% to 1. 28 million units in 2008-09. Some of this was compensated by a 31% increase in exports to 631,383 units. But it was not enough. Consequently, Bajaj Auto’s market share(domestic and exports, combined) fell from 32. 7% in 2007-08 to 28% in 2008-09. b) Executive segment. This largely comprises 100 cc to 135 cc motorcycles, priced between Rs. 40,000 to Rs. 50,000. We arein this segment with two brands: XCD and Discover. c) Performance segment. These are sleek, high performance, with price points in excess of Rs. 50,000. We are present here with our flagship brand, the Pulsar, and our cruiser, the Avenger. We dominate this space, with a domestic market share in excess of 47%. Using the three-fold classification described above, Chart plots Bajaj Auto’s domestic sales of motorcycles over 2008-09. [pic] Products Avenger Avenger 200 DTS-i Pulsar Pulsar 135 DTS-i Pulsar 220 DTS-i Pulsar 180 DTS-i Pulsar 150 DTS-i Discover Discover 135 DTS-i Discover DTS-i Platina Platina 125 Platina 100 cc NINJA Ninja 250 R Operations Plants Bajaj Auto’s vehicle manufacturing capacity stands at 3. 96 million units — comprising 3. 6 million two-wheelers and 360,000 three-wheelers. The newest plant at Pantnagar (Uttarakhand) has a capacity to produce 900,000 two-wheelers. Table gives the capacity data. [pic] Pantnagar Bajaj Auto’s production at its state-of-the-art Pantnagar plant (Uttarakhand) has been on the rise. In 2007-08, the plant produced 276,925 motorcycles. This increased by 15% to 318,321 vehicles in 2008-09. By end-2008-09, Pantnagar was producing some 40,000 motorcycles per month. To maximise the tax benefits available at Uttarakhand, the company is shifting some of its more profitable products to the Pantnagar plant. After the shift of these products, the plant is expected to produce around 60,000 vehicles by the third quarter of 2009-10. Table gives the data on which products are manufactured in what plant. pic] MAJOR SUPPIERS |SUPPLIERS |PARTS | |USHA |PISTONS,RINGS | |ROLON |CHAIN,CHAIN SPROCKET | |ENDURANCE |FORKS,SHOCKERS,RIMS,ALLOY-WHEELS | |PRICOL |METER CONSOLE |MINDA |LOCKS ,HORNS,SWITCHES | |LUMAX |LAMPS | |SUNDARAM |FASTENERS | |KBX |DISK BRAKE PADS | |BOSCH |SPARK PLUGS | |EXIDE |BATTERIES | |MRF |TYRES | Supply Chain Bajaj Auto’s supply chai n encompasses the process from vendors to the final customers via manufacturing. Therefore, the Company’s supply chain involves as much the vendors and the procurement-to-payment logistics, as it does the manufacturing to selling process, or the order to cash system. Given below are some of the key supply chain initiatives of Bajaj Auto. Vendors Most of the Company’s vendor initiatives, including the Pantnagar operations and TPM have been discussed earlier. What needs to be emphasised is that the 16 vendors clustered within the campus of Bajaj Auto’s Pantnagar plant were a part of a planned process of project development – where the vendors were fully integrated with the plant, starting with basic raw materials, automated paint, plating and powder coating plants. This has ensured that the maximum possible value addition is done within Uttarakhand, so as to maximise the tax advantage and make Bajaj Auto’s motorcycles even more cost competitive. Initial facilities created by vendors at Pantnagar at an aggregate investment of Rs. 5 billion (Rs. 500 crore) are for half million motorcycles per year, which will be increased with balancing investments to roduce one million motorcycles per year to synchronise with the Company’s plans. Dealers Bajaj Auto has adopted a channel policy approach which is unique in the automobile industry. This policy and its linked initiatives are guided by the requirements of specific se ts of the Company’s final customers. 1. The Primary Channel : This comprises 408 exclusive two-wheeler dealers, 75 exclusive three-wheeler dealers, and 98 dealers who deal in both product categories. Bajaj Auto has followed a policy of systematic network consolidation, in which the primary dealerships have been given a larger scale and scope to operate based on their strengths. 2. The Secondary Channel : Much of Bajaj Auto’s recent success can be attributed to policy of rapidly adding to the number of secondary outlets, which provide sales, service and spares support in the vast hinterland of India. These are in the form of 1,500 Authorised Service Centres (ASC), 4,500 Rural Service Outlets (RSO), and 750 Young Engineer Service (YES) centres in the towns and cities. 3. The Rural India Foray : The Company has been aggressively pursuing initiatives to increase two-wheeler penetration in rural India. A large number of rural outlets were added to the network during the year, which not only increased hinterland sales but also gave additional employment in the rural sector. 4. Pro-biking : This initiative sits far away from the rural India play but is no less important. Bajaj Auto believes that young India doesn’t pay to buy motorcycles; it pays to buy excitement and exhilaration. The Pro-biking initiative, which was kicked off with the inauguration of first store in Pune in August 2005, aims precisely at creating this thrill. Owned and operated by Bajaj Auto, Pro-biking showrooms are now operational in Mumbai, Kolkata, Chennai, Hyderabad and Ahmedabad. ———————– AUTOMOBILE – BAJAJ Assignment on Operations Management Prasad T. P. FN-105 Mahesh R. FK-1895 Jijo Lukose FN-77 Deepu P. FK-1905 Abinash Nanda FK-2010 Anoop B. FK-2005 Manu Korah Mathew Athul Raj Vyshakh P. R. FK-1919 Balaji Vinay Singh FK-1883 PRasad

Peaceful Pastures

Mid-term Exam| Page: | 1 2 3 | 1. | Question 😠 (TCO 1) The goal of managerial accounting is to provide information that managers need for| | | Student Answer:| | planning. | | | | control. | | | | decision making. | | | | All of the above answers are correct. | | Instructor Explanation:| Chapter 1, Page 4| | | | Points Received:| 4 of 4 | | Comments:| | | | 2. | Question 😠 TCO 1) Which of the following statements regarding fixed costs is true? | | | Student Answer:| | When production increases, fixed cost per unit increases. | | | | When production decreases, total fixed costs decrease. | | | When production increases, fixed cost per unit decreases. | | | | When production decreases, total fixed costs increase. | | Instructor Explanation:| Chapter 1, Page 9| | | | Points Received:| 4 of 4 | | Comments:| | | | 3. | Question 😠 (TCO 1) A retailer purchased some trendy clothes that have gone out of style and must be marked down to 40% of the original selling price in order to be sold. Which of the following is a sunk cost in this situation? | | | Student Answer:| | the current selling price | | | | the original selling price | | | | the original purchase price | | | | the anticipated profit | Instructor Explanation:| Chapter 1, Page 9| | | | Points Received:| 4 of 4 | | Comments:| | | | 4. | Question 😠 (TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor (variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs, $600. Each steak dinner sells for $14. 00 each. How much is the budgeted variable cost per unit? | | | Student Answer:| | $5. 80 | | | | $7. 74 | | | | $6. 68 | | | | $3. 25 | | Instructor Explanation:| Chapter 1, Page 8 ($4,080 + $5,200) / 1,600 = $5. 80| | | | Points Received:| 0 of 4 | Comments:| | | | 5. | Question 😠 (TCO 1) Which of the following is an example of a manufacturing ov erhead cost? | | | Student Answer:| | security at the manufacturing plant | | | | fabric used to produce shirts | | | | cost of shipping product to customers | | | | the salary of the president of the company | | Instructor Explanation:| Chapter 2, Page 37| | | | Points Received:| 0 of 4 | | Comments:| | | | 6. | Question 😠 (TCO 1) Product costs| | | Student Answer:| | are also called manufacturing costs. | | | | are considered an asset until the finished goods are sold. | | | | become an expense when the goods are sold. | | | All of the above answers are correct. | | Instructor Explanation:| Chapter 2, Page 38| | | | Points Received:| 4 of 4 | | Comments:| | | | 7. | Question 😠 (TCO 1) At December 31, 2010, WDT Inc. has a balance in the Work in Process Inventory account of $62,000. At January 1, 2010, the balance was $55,000. Current manufacturing costs for the year are $292,000, and cost of goods sold is $284,000. How much is cost of goods manufactured? | | | Student Answer:| | $292,000 | | | | $299,000 | | | | $277,000 | | | | $285,000 | | Instructor Explanation:| Chapter 2, Page 43 $55,000 + $292,000 – $62,000 = $285,000| | | Points Received:| 0 of 4 | | Comments:| | | | 8. | Question 😠 (TCO 2) BCS Company applies manufacturing overhead based on direct labor hours. Information concerning manufacturing overhead and labor for August follows: | Estimated| Actual| Overhead cost| $174,000| $171,000| Direct labor hours| 5,800| 5,900| Direct labor cost| $87,000| $89,975| How much overhead should be applied in total during August? | | | Student Answer:| | 177,000 | | | | 179,950 | | | | 171,100 | | | | 168,200 | | Instructor Explanation:| Chapter 2, Page 54 ($174,000 / 5,800) x 5,900 = 177,000| | | | Points Received:| 0 of 4 | | Comments:| | | 9. | Question 😠 (TCO 2) Citrus Company incurred manufacturing overhead costs of $300,000. Total overhead applied to jobs was $306,000. What was the amount of overapplied or underapplied ove rhead? | | | Student Answer:| | $7,000 overapplied | | | | $6,000 overapplied | | | | $6,000 underapplied | | | | $13,000 underapplied | | Instructor Explanation:| Chapter 2, Page 55 $306,000 – $300,000 = $6,000 overapplied| | | | Points Received:| 4 of 4 | | Comments:| | | | 10. | Question 😠 (TCO 3) Companies in which of the following industries would not be likely to use process costing? | | | Student Answer:| | cereals | | | paints | | | | cosmetics | | | | auto body shop | | Instructor Explanation:| Chapter 3, Page 84| | | | Points Received:| 4 of 4 | | Comments:| | | | 11. | Question 😠 (TCO 3) The Blending Department began the period with 45,000 units. During the period the department received another 30,000 units from the prior department and completed 60,000 units during the period. The remaining units were 75% complete. How much are equivalent units in The Blending Department’s work in process inventory at the end of the period? | | | Student Answ er:| | 30,000 | | | | 22,500 | | | | 15,000 | | | | 11,250 | Instructor Explanation:| Chapter 3, Page 88 (45,000 + 30,000 – 60,000) x 75% = 11,250| | | | Points Received:| 4 of 4 | | Comments:| | | | 12. | Question 😠 (TCO 3) Ranger Glass Company manufactures glass for French doors. At the start of May, 2,000 units were in-process. During May, 11,000 units were completed and 3,000 units were in process at the end of May. These in-process units were 90% complete with respect to material and 50% complete with respect to conversion costs. Other information is as follows: Work in process, May 1:| | Direct material| $36,000| Conversion costs| $45,000| Costs incurred during May:| |Direct material| $186,000| Conversion costs| $255,000| How much is the cost per equivalent unit for direct materials? | | | Student Answer:| | $24. 00 | | | | $16. 20 | | | | $15. 86 | | | | $13. 58 | | Instructor Explanation:| Chapter 3, Page 89 ($36,000 + $186,000) / [11,000 + (3,000 x 90%)] = $16 . 20| | | | Points Received:| 0 of 4 | | Comments:| | | | 13. | Question 😠 (TCO 4) Duradyne, Inc. has total costs of $18,000 when 2,000 units are produced and $26,000 when 5,200 units are produced. During March, 4,000 units were produced and sold for $8 each. What is the variable cost per unit? | | | Student Answer:| | $2. 0 | | | | $0. 40 | | | | $2. 00 | | | | $4. 00 | | Instructor Explanation:| Chapter 4, Page 127 ($26,000 – $18,000) / (5,200 – 2,000) = $2. 50| | | | Points Received:| 4 of 4 | | Comments:| | | | | Page: | 1 2 3 | 1. | Question 😠 (TCO 4) The three elements of the profit margin are:| | | Student Answer:| | Selling price per unit, variable cost per unit, and fixed cost per unit. | | | | Total revenues, total variable costs, and total fixed cost. | | | | Selling price per unit, variable cost per unit, and total fixed costs. | | | | Selling price per unit, total variable costs, and fixed cost per unit. | Instructor Explanation:| Chapter 4, Page 130| | | | Points Received:| 0 of 4 | | Comments:| | | | 2. | Question 😠 (TCO 4) Circle K Furniture has a contribution margin ratio of 16%. If fixed costs are $176,800, how many dollars of revenue must the company generate in order to reach the break-even point? | | | Student Answer:| | $1,105,000 | | | | $282,880 | | | | $1,060,800 | | | | $208,476 | | Instructor Explanation:| Chapter 4, Page 133 $176,800 / 16% = $1,105,000| | | | Points Received:| 4 of 4 | | Comments:| | | | 3. | Question 😠 (TCO 4) Randy Company produces a single product that is sold for $85 per unit.If variable costs per unit are $26 and fixed costs total $47,500, how many units must Randy sell in order to earn a profit of $100,000? | | | Student Answer:| | 1,735 | | | | 618 | | | | 890 | | | | 2,500 | | Instructor Explanation:| Chapter 4, Page 132 ($100,000 + $47,500) / ($85 – $26) = 2,500 units| | | | Points Received:| 4 of 4 | | Comments:| | | | 4. | Question 😠 (TCO 5) Which of the following is treated differently in full costing than in variable costing? | | | Student Answer:| | Direct materials | | | | Fixed manufacturing overhead | | | | Direct labor | | | | Variable manufacturing overhead | Instructor Explanation:| Chapter 5, Page 168| | | | Points Received:| 4 of 4 | | Comments:| | | | 5. | Question 😠 (TCO 5) Which of the following items appears on a variable costing income statement but not on a full costing income statement? | | | Student Answer:| | Sales | | | | Gross margin | | | | Net income | | | | Contribution margin | | Instructor Explanation:| Chapter 5, Page 169| | | | Points Received:| 4 of 4 | | Comments:| | | | 6. | Question 😠 (TCO 5) Peak Manufacturing produces snow blowers. The selling price per snow blower is $100. Costs involved in production are: Direct Material per unit| $20| Direct Labor per unit| 12|Variable manufacturing overhead per unit| 10| Fixed manufacturing overhead per year| $148,500| In addition, the compan y has fixed selling and administrative costs of $150,000 per year. During the year, Peak produces 45,000 snow blowers and sells 30,000 snow blowers. How much is net income using full costing? | | | Student Answer:| | 1,641,000 | | | | $1,590,000 | | | | $1,441,500 | | | | $1,491,000 | | Instructor Explanation:| Chapter 5, Pages 172-174 Sales = $100 x 30,000 = $3,000,000Expenses = [($148,500 / 45,000) + $20 + $12 + $10] x 30,000 = $1,359,000 COGS + $150,000 = $1,509,000Net Income = $3,000,000 – $1,509,000 = $1,491,000| | | Points Received:| 0 of 4 | | Comments:| | | | 7. | Question 😠 (TCO 6) Costs may be allocated to | | | Student Answer:| | products. | | | | services. | | | | departments. | | | | any of the above. | | Instructor Explanation:| Chapter 6, Page 201| | | | Points Received:| 4 of 4 | | Comments:| | | | 8. | Question 😠 (TCO 5) An allocation base| | | Student Answer:| | is the minimum amount to be allocated to a cost object. | | | | coordinates the man ufacturing overhead costs as they are incurred. | | | | will always be less than the variable costs for a product. | | | | relates the cost pool to the cost objectives. | Instructor Explanation:| Chapter 6, Page 202| | | | Points Received:| 4 of 4 | | Comments:| | | | 9. | Question 😠 (TCO 6) Sierra Company allocates the estimated $200,000 of its accounting department costs to its production and sales departments because the accounting department supports the other two departments, particularly with regard to payroll and accounts payable functions. The costs will be allocated based on the number of employees using the direct method. Information regarding costs and employees follows: Department| Employees| Accounting| 4| Production| 36| Sales| 12|How much of the accounting department costs will be allocated to the production and sales departments? | | | Student Answer:| | Production: $150,000 Sales: $50,000 | | | | Production: $180,000 Sales: $60,000 | | | | Production: $1,800, 000 Sales: $600,000 | | | | Production: $22,222 Sales: $66,667 | | Instructor Explanation:| Chapter 6, Pages 213-214 Production = [$200,000 / (36 + 12)] x 36 = $150,000Sales = [$200,000 / (36 + 12)] x 12 = $50,000| | | | Points Received:| 4 of 4 | | Comments:| | | | 10. | Question 😠 (TCO 7) A company is trying to decide whether to keep or drop the sporting goods department in its department store.If the segment is dropped, the manager will be fired. The manager's salary, in relation to the decision to keep or drop the sporting goods department, is| | | Student Answer:| | avoidable and therefore relevant. | | | | not avoidable and therefore relevant. | | | | sunk and therefore not relevant. | | | | the same for all alternatives and therefore not relevant. | | Instructor Explanation:| Chapter 7, Pages 256-257| | | | Points Received:| 0 of 4 | | Comments:| | | | 11. | Question 😠 (TCO 7) BigByte Company has 12 obsolete computers that are carried in inventory at a cost of $ 13,200.If these computers are upgraded at a cost of $7,500, they could be sold for $15,300. Alternatively, the computers could be sold â€Å"as is† for $9,000. What is the net advantage or disadvantage of reworking the computers? | | | Student Answer:| | $6,300 advantage | | | | $1,200 disadvantage | | | | $5,400 disadvantage | | | | $3,000 advantage | | Instructor Explanation:| Chapter 7, Pages 251-252 ($15,300 – $9,000) – ($7,500 – $0) = ($1,200)| | | | Points Received:| 4 of 4 | | Comments:| | | | 12. | Question 😠 (TCO 7) Olde Store has 12,000 cans of crab meat just a week past the expiration date. Each can cost $0. 31.The cans could be sold as is for $0. 20 each, or relabeled and sold as gourmet cat food. The cost of relabeling the cans would be $0. 04 per can and the cans would then sell for $0. 29 per can. What should be done with the cans and why? | | | Student Answer:| | The cans should be thrown away since there will be a loss with the oth er alternatives. | | | | The cans should be relabeled into cat food since the sales price increases $0. 09 per can and the cost is only $0. 04 per can. | | | | The cans should be put on clearance since there is no reason to put more money into something that is already selling below cost. | | | It doesn’t matter what you do since all alternatives result in a loss. | | Instructor Explanation:| Chapter 7, Pages 251-252| | | | Points Received:| 4 of 4 | | Comments:| | | | Page: | 1 2 3 | 1. | Question 😠 (TCO 3) Why is it necessary to use equivalent units in a process costing system? | | | Student Answer:| | Process costing, as we have seen, is essentially a system of averaging. Equivalent Units In calculating the average unit cost, it is necessary to convert the number of partially completed units in Work in Process to an equivalent number of whole units.Otherwise, the denominator in the average unit cost calculation will be misstated. When partially completed units are c onverted to a comparable number of completed units, they are referred to as equivalent units. Jiambalvo. Managerial Accounting, 4th Edition. John Wiley & Sons. . | | Instructor Explanation:| In a company that uses process costing, there may be incomplete units in ending Work in Process inventory. These units are converted to a comparable number of completed units in order to calculate the cost per equivalent unit. | | | | Points Received:| 20 of 20 | | Comments:| | | | 2. Question 😠 (TCO 7) Computer Boutique sells computer equipment and home office furniture. Currently, the furniture product line takes up approximately 50% of the company's retail floor space. The president of Computer Boutique is trying to decide whether the company should continue offering furniture or just concentrate on computer equipment. If furniture is dropped, salaries and other direct fixed costs can be avoided. In addition, sales of computer equipment can increase by 13%. Allocated fixed costs are as signed based on relative sales. | Computer| Home Office| | | Equipment| Furniture| Total| Sales| $1,200,000| $800,000| $2,000,000|Less cost of goods sold| 700,000| 500,000| 1,200,000| Contribution margin| 500,000| 300,000| 800,000| Less direct fixed costs:| | | | Salaries| 175,000| 175,000| 350,000| Other| 60,000| 60,000| 120,000| Less allocated fixed costs:| | | | Rent| 14,118| 9,882| 24,000| Insurance| 3,529| 2,471| 6,000| Cleaning| 4,117| 2,883| 7,000| President's salary| 76,470| 53,350| 130,000| Other| 7,058| 4,942| 12,000| Total costs| 340,292| 380,708| 649,000| Net Income| $159,708| ($ 8,708)| $151,000| | | | | | Prepare an incremental analysis to determine the incremental effect on profit of discontinuing the furniture line. | | Student Answer:| | | | Instructor Explanation:| Incremental drop in revenue| ($800,000)| Incremental cost savings:| | Cost of sales| 500,000| Salaries| 175,000| Other| 60,000| Incremental increase in computer equipment| | (13% x $1,200,000)| 156,000| Incremental increase in computer equipment| | variable costs (13% x $700,000)| (91,000)| Incremental increase in profit| $ 0| | | | | Points Received:| 10 of 25 | | Comments:| | | | 3. | Question 😠 (TCO 4) Beach Rentals has estimated that fixed costs per month are $79,200 and variable cost per dollar of sales is $0. 2. (a) What is the break-even point per month in sales? (b) What level of sales is needed for a monthly profit of $24,000? (c) For the month of July, the company anticipates sales of $240,000. What is the expected level of profit? | | | Student Answer:| | a. ) $165,000 sales b. ) $215,000 c. ) | | Instructor Explanation:| (a) Contribution margin ratio = 1. 00 – 0. 52 = 0. 48 $79,200 ? 0. 48 = $165,000 (b) ($79,200 + $24,000) ? 0. 48 = $215,000 (c) ($240,000 ? 0. 48) – $79,200 = $36,000| | | | Points Received:| 20 of 25 | | Comments:| | | |