Attitudes vs beliefs | Management homework help

What are some of the differences between “attitudes” and “beliefs,” as described in Ch. 4 of the text?   Must be atleast 300 words!!!
Please use the reading material below!!
 
 
 
The primary message of this chapter can be summarized by the Boy Scout motto “Be prepared!” Have you ever spent an hour or two at a group or team meeting only to find out no one was ready to make a meaningful, informed contribution? Many wasted meetings boil down to the fact that group members just haven’t done their homework. GIGO is the acronym that computer programmers use for the expression “Garbage in, garbage out.” If you put poor information (garbage) into a computer program, you get poor results as output. It works the same way in group discussions.1 To achieve a quality decision, a group needs quality information gleaned from research as well as effective reasoning and critical-thinking skills.2 In this chapter we delve into the processes by which groups accomplish their work and achieve their goals. We’ll discuss how to prepare effectively for a group discussion and how to use research and critical-thinking skills to enhance the quality of the work accomplished by group members. The Greek philosopher Socrates believed that the primary goal of dialogue and discussion was the search for truth. Today, group discussion continues to be a trusted method of seeking answers to tough questions. Our legal system is based on the idea that a jury of adults, after hearing evidence and using their best critical-thinking and analysis skills, should be able to decide whether someone is guilty of a crime. In corporations, teams and task forces hammer out key decisions. Regardless of a group’s composition, goal, or context, its discussion will be more productive if group members have prepared and if they know how to critically evaluate information used to reach reasoned conclusions.3 How to Develop a Discussion Plan Imagine the instructor in your group communication class has assigned you to a group or committee, perhaps, so that you can make a recommendation, solve a problem, or make a decision. What should you do first? How would you develop a plan to get your work accomplished? What should you not do? It’s tempting for members to jump in with both feet and start deciding what to do without adequate research or preparation. The most effective groups develop a plan for accomplishing their goal. Groups are more likely to deliberate wisely and effectively if group members clarify their goals, have good discussion skills, and are motivated to do a good job.4 Suggesting solutions or making final recommendations at your first meeting is not a good idea. Effective groups prepare for discussion.5 We’ll outline the general parts of a discussion plan and then spend the rest of the chapter describing these strategies in detail. Get Acquainted with Your Group Members “Let’s get down to business,” “What are we supposed to do,” and “Get to the point” are typical statements heard at most first team or group meetings. It’s important, however, to take a few minutes to get better acquainted with group members before focusing on the task. A consistent conclusion from teamwork research is that it is vital to ensure that group members know one another in order to develop appropriate roles and responsibilities.6 In fact, often the most serious problems group and team members encounter are not caused by task issues, but rather because people have difficulty relating to each other. Taking time to establish good working relationships and trust can help a group or team be more productive in the long run.7 Do more than just announce your name to the group. Research has documented that if you and other group members take the time to identify who has special expertise or information, the group can work more effectively.8 Perhaps you can provide information about how much experience you have with the topic, or, if no specific task has been articulated, you can talk about your experience in working on group and team projects. You may want to exchange phone numbers and e-mail addresses so that you can contact one another. You need not artificially prolong this initial orientation period, but it will be useful for group or team members to spend some time getting to know their fellow members. Some groups appoint someone to help facilitate their discussion, but most groups figure out the best way to get started on their own. One research team found that self-managing groups can be quite effective, especially with routine tasks.9 Sharing personal information can establish a climate of cooperation. Research suggests that it’s important to encourage all members to participate early in the group’s history. Communication researcher Joseph Bonito found that groups that had higher rates of participation within the first minute of their discussion had higher-quality discussion during the entire meeting; the group members made more task-relevant contributions (that is, they made comments that helped the group make a decision or solve a problem).10 So make sure all group members are contributing early in the group’s history. In addition to taking time to get acquainted with group members, avoid the temptation to make quick decisions. Groups sometimes feel pressure to get something accomplished. One team of researchers found that some groups encounter a “speed trap” when group members focus too much on speed and not enough on quality.11 In essence, the researchers found that an overemphasis on making fast decisions results in a group’s getting caught in a spiral of emphasizing speed and efficiency over quality of decision making. Since norms are established early in the group’s history, make sure the speed of decision making doesn’t become the group’s goal. Clarify the Goals of the Group Once you’ve completed introductions, make sure you know what the group’s purpose, goal, and assignment are. A key question to ask as the group begins focusing on the goal is, “When do you know you’re finished with your task?” When developing the group’s goal, visualize what the completed project will look like. Is the goal to produce a written report or to deliver an oral presentation in which you will make recommendations? You should be able to summarize the group’s goal in your own words. Most work-group goals boil down to one of three tasks: (1) generating ideas, information, or options; (2) making a choice, often about how to solve a larger problem; and (3) putting an idea into action. Your team may be involved in only one of these tasks, or all three. Whatever the group goal, it should be expressed in the form of a question that the group will discuss. Later in this chapter, we suggest that you formulate a discussion question as either a fact (something did or did not happen), a prediction (something will happen), a value (something is better or worse than something else), or a policy (something should be done). Consider writing your question or group goal on a chalkboard or flipchart for all team members to see. When the group starts to wobble or get offtrack, point group members back to the central reason for the discussion—to achieve the goal of the group. As we noted in Chapter 1, having a clear, elevating goal is one of the essential requirements for an effective team. Leadership expert Stephen Covey suggests that to be successful you should “begin with the end in mind.”12 If you find that your group is not achieving its goals or that you’re just not making the progress you expect, the reasons may be one of the following: Your team has an unclear vision of what it wants to accomplish. Team members don’t know what is expected of them; they need help clarifying their roles. Team members aren’t clear about the process of how work gets done. They have such questions as “Do we work individually or together? Do we report our findings at each group meeting?” Team members aren’t getting along. They need to focus on developing greater trust and managing tensions before getting down to business.13 Establishing clear goals can help group members have a clearer vision, understand their individual roles, develop a work plan, and address the uncertainty that is present when the group first get together.14 Develop a Plan for Gathering Information and Analyzing Issues Once you develop your discussion question and clarify your goal, you need to collect information and research conclusions to help answer your question. Research consistently finds that developing a collaborative plan to accomplish the work results in higher-quality results.15 Research has also found that groups tend to be too optimistic in judging their efficiency. It typically takes more, rather than less, time to accomplish group tasks than group members realize.16 So be realistic in estimating how long it will take the group to complete its work. Developing a step-by-step plan that involves all group members will help your group work effectively and create a realistic timetable for accomplishing its goal.17 However, although planning is important, research also suggests that it is beneficial to adjust your plans as your group continues its work. Group communication researchers Leslie DeChurch and Craig Haas found that groups that appropriately adapted to situations and problems that were encountered along the way had a higher-quality solution than groups that didn’t deviate from their plan.18 Their conclusion: Have a plan but give yourself permission to react and respond to what you discover as you seek to make a decision or solve a problem. Before you start surfing the Internet for information, find out what you and your group members already know about the topic and issues. As we have noted, researchers have found that one of the most important things you can do early in a group’s history is to identify who in your group has special skills or is an expert on the topic you’re discussing.19 Once you identify information experts, make sure that they contribute to the group’s conversation.20 After assessing your group’s knowledge, figure out what kind of information you need. Identify who is most interested in specific aspects of your topic. Groups that figure out how to learn together do a better job of managing conflict are overall more effective in achieving their goal.21 Begin to “divide and conquer.” Assign members—or ask for volunteers—to begin researching the topic. Coordinate your group’s research efforts rather than having group members scatter and then plunge into the research process. Without coordination, you may needlessly duplicate your research efforts. In developing a coordinated plan to do the work, educator Lisa Snyder suggests that you will be more effective and efficient if you do these things: Focus on the purpose of the project. Encourage all members to participate by positively reinforcing the contributions of others. Establish a timeline of the due dates. Keep the project on track by periodically reviewing whether you are adhering to the timeline.22 Besides just divvying up the work, be sure to give yourselves specific deadlines when the information will be collected. Allow plenty of time for the group to discuss the information (rather than just compiling the facts and data) before you make final recommendations. Research suggests that groups that have more time to solve a problem tend to do a better job of sharing information among group members; this finding is especially true of virtual groups sharing information via the Internet.23 The more time allotted to solve a problem, the greater the chance that group members will share what they know. So, in addition to making assignments, indicate when the information should be shared with the group. Develop a concrete plan for structuring the workload. Especially if you have limited time, divvying up the research tasks is a good idea. However, some research suggests that with a longer time period and low levels of information, it may be best to work collaboratively rather than independently to gather information.24 What’s important is to make sure that group members share among themselves the information they gather. According to a research team led by communication researcher Charles Pavitt, once a group member shares information or a proposal with the group, all group members will join in the discussion and talk about the ideas presented.25 However, evidence also suggests that some people may dominate the discussion, as indicated in a classic study by Robert Bales. He found that some group members can dominate at least 40 percent of the talk time.26 To maximize the benefits of information sharing and group deliberation, avoid letting one person run the show. Seek balanced participation and sharing of ideas and information. Follow a Structured Agenda to Accomplish the Task © 2012 Scott Adams, Inc./Dist. by Universal Uclick Here’s a powerful principle for effective group discussion: Groups and teams need an agenda to help them organize their discussion. An agenda is a thoughtfully prepared list of the issues, topics, and questions that the group will discuss. There is an art to preparing an agenda—it is not just a list of topics that come to mind. Appendix A presents principles and practices for developing meeting agendas, as well as strategies for facilitating meeting discussion. A group needs not only an agenda for each meeting but also an overarching plan of how to accomplish the group’s goal. If your group is solving a problem, then a straightforward problem-solving agenda should provide the necessary structure. In Chapter 11 we share several techniques and methods for organizing a problem-solving discussion. The most basic problem-solving structure includes these steps: 1. Identify and define the problem. 2. Analyze the problem. 3. Generate several possible solutions. 4. Select the best solution or combination of solutions. 5. Test and implement the solution. Organizing your overall work plan around these steps can help keep your group on track. Share Information with Others Groups typically make better decisions than individuals because there is typically more information among a group of people than in one person.27 Researchers have consistently found that groups that have more information are more likely to arrive at a better solution or outcome.28 But there’s a problem: Group members sometimes don’t share what they know.29 Research has documented that we often talk about and think about ourselves rather than consider making the group goals our concern.30 What factors make group members more willing to share their knowledge? According to one study, you are more likely to share information if: (1) everyone in the group already knows the information—that is, there is a common core of information that group members talk about; (2) at least one person knows the same information you know; (3) you are perceived to be an expert on the topic at hand;31 or (4) you want to enhance your position or influence in the group. Group members may share even those information that everyone already knows to confirm that they are “in the know” and part of the group’s core of well-respected members.32 In addition, we tend to share information with people we like and withhold information from people we don’t like.33 There are several reasons why it’s important to share information with the entire group. In addition to groups’ having more information on which to base their deliberations, shared information can help allay group conflict and tensions and sort through disagreements.34 Researchers have also found that not only sharing information with one another but also talking about how information should be shared helps a group perform better.35 It helps to develop a plan to share information with other group members.36 Besides resulting in better-quality outcomes, another advantage to group members’ sharing what they know is more overall satisfaction with their participation in the group.37 Also, when groups don’t share all of the information that they have with one another, they forge ahead and make a decision or solve a problem based on incomplete information.38 So what can group members do to ensure that they share information with one another? Consider these practical tips: Work to develop a positive, conforming, and, cohesive group climate.39 Celebrate when your group achieves a short-term goal; find ways to catch group members doing things well and then offer a positive, reinforcing comment such as “Good job of finding that key piece of information.” Help the entire group as well as each member feel valued. Group members who feel positive about the group’s goal, as well as believe they are making important contributions, are more likely to share information with other group members.40 Assess the range of knowledge, education, and information among group members. Research suggests that group members who have different levels of information and education are likely to share information among team members only up to a certain point.41 An educationally diverse group will tend to share less information among team members. Don’t let differences in education, knowledge, or culture keep group members from sharing what each of them knows. Assess the group’s cultural diversity. Sometimes people who are in the cultural minority are less likely to share what they know, so encourage them to share information with the entire group. Encourage quiet members to participate. Some group members are shy, while others are just apprehensive about speaking up in any situation. Use the write-and-then-speak technique. Ask group members to first jot down some of their information on a piece of paper and then take turns sharing what they have written. Having a written “script” may encourage quieter members to speak up. Use online, e-mail, text, or instant messages to contribute information. Consider asking group members to first provide a written report via e-mail or other electronic means to every group member. Using the structure provided by having information in written form may gently prod each group member to share what he or she knows.42 Explicitly talk about the problem of unshared information. Also talk about the importance of being open to new information and new ideas.43 Make it a group concern. Some groups have found that group members who receive training in the importance of sharing information do, in fact, share more information.44 Work together to find research and information; don’t worry whether group members are finding similar information. One study found that if several group members found the same information, it was more likely to be shared with the entire group. So duplicating each other’s research can increase the likelihood that the information will be shared with the entire group.45 Determine How to Present Your Information Once you have developed your conclusions, you’ll need to decide how best to present your information to others. Appendix B describes three common formats for doing this: (1) a panel discussion, (2) a symposium presentation, and (3) a forum presentation. In addition to presenting your conclusions orally, you may need to prepare a written report. Consider organizing your written report around the problem-solving steps noted earlier (definition of the problem, analysis of the problem, possible solutions, best solution or solutions). Most written reports are prepared for a specific individual or group. Keep your reader in mind as you develop the written report. Follow any specific guidelines or structure prescribed for you. PUTTING PRINCIPLES INTO PRACTICE: What Should You Do with Group Members Who Don’t Pull Their Weight? A common disadvantage of working in groups and teams is that sometimes a team member may not follow through on assignments, actively contribute, or, even worse, may not attend team meetings. This behavior, known as social loafing, creates much discord and anguish, especially for group members who are following through on assignments and tasks. One of the biggest triggers of conflict is someone who thinks he or she is unfairly doing more work than others. Rather than ignore the problem (especially if a loafing group member is significantly hindering the work of the entire group), group members should confront the issue. But how can the problem be addressed without adding to the stress? Understanding the Problem First, it helps to understand why someone may be loafing. Why do some people not contribute to the group? Consider these possibilities: APATHY: The loafing group member may simply not care whether the group succeeds or not. WORK “CHALLENGED”: The slacking group member may just not like to work very hard. Perhaps he or she has gotten by with doing minimal or no work on other projects and this is just another opportunity to let others do the work. TOO BUSY: The loafer may have too much to do and has made working in the group a low priority, hoping that others will pick up the slack. NO GROUP ACCOUNTABILITY: There may be no way tracking who does what; the loafer can skate through the process because there are no consequences of not doing the work. Addressing the Problem Regardless of the reason for loafing, you and your team members simply want the social loafer to loaf less and work more. Understanding why someone may be goofing off may be interesting, but what you may really want to know is “What do we do to get someone to do his or her work?” DEVELOP CLEAR GROUND RULES: Early in your group’s history, establish an explicit rule that each group member is expected to complete his or her assignments. Even if your group has been meeting for a while, if you’ve not developed ground rules and explicit operating procedures, it may be useful to do so. Talking about how the work should be accomplished makes the issue a group concern rather than a contentious issue between one or two group members. MAKE MEMBERS ACCOUNTABLE: Build in greater accountability so that assignments and due dates are clear and each member has to report to the entire group on the status of work accomplished. How do you make people accountable? As a group, develop specific assignments for individual team members. Then provide deadlines for when the work should be completed. Group members could periodically provide a status update on this individual work, either as part of the group’s regular agenda or by providing a status report via e-mail or texting or on a team Web page. Perhaps each meeting could begin with a status report from each group member. If there’s no accountability for individual effort, it’s easier to let others do the work.46 MAKE THE ISSUE A GROUP CONCERN: What if you’ve developed a system of accountability, and the social loafer is still not doing his or her work? One person should not attack the offending group member; that will only add to a climate of defensiveness and create more stress. Instead, the group as a whole should address the loafer, calmly describing how the lack of individual productivity is creating a problem for the group.47 REPORT THE PROBLEM. Rather than bearing the problem alone, if the problem seems to continue without any change, let your instructor or supervisor know that a problem exists. Also, when sharing the problem, let your instructor or supervisor know what you have done to address the issue. Although we’ve offered several suggestions, realize this: You ultimately can’t change another person’s behavior. Despite what group members do (or don’t do), there are no surefire strategies to spur a loafing member to action.48 The rest of the group may simply have to pick up the slack. REVIEW: HOW TO DEVELOP A DISCUSSION PLAN What to Do How to Do It Get acquainted with your group members Introduce yourself Share your contact information Discuss the experience you’ve had with the topic Clarify the goals of the group Explicitly write down the purposes and goals of the group Identify whether your key purpose is to (1) gather information, (2) make a choice or solve a problem, (3) put an idea into action, or (4) achieve two or more of these purposes Describe what it will look like when your group is finished with its task. Answer the question: How will you know when you are done? Develop a plan for gathering information and analyzing issues Identify and assess the information you already know Develop a written plan that indicates what you already know and what you need to know Give members assignments or ask for volunteers for gathering or analyzing information with a date for reporting back to the group Follow a structured agenda to accomplish the task Identify the topics and issues you need to discuss at each meeting Consider using the traditional problem solving agenda to develop the overarching plan: Identify and define the problem, analyze, generate several solutions, select the best solution, test and implement the solution Develop a written agenda for each meeting using agenda development skills discussed in Appendix A Share information with others Develop a positive climate so group members feel comfortable sharing what they know Explicitly ask other group members if they have information to share Sometimes during meetings have group members first write information they know and then share it orally Explicitly talk about the problem of unshared information and then work together to make sure group members share what they know Determine how to present your information Decide whether you will use a (1) panel discussion format, (2) symposium presentation, or (3) forum presentation (or some combination of all three) when presenting your information to an audience Decide what written materials you need to develop and share with others Consider using the traditional problem-solving structure (identify and define the problem, analyze the problem, generate several solutions, select the best solution, test and implement the solution) or organize both oral and written information using this structure How to Formulate Discussion Questions Before most scientists begin an experiment or conduct research, they have some idea of what they are looking for. Some researchers start with a hypothesis, a guess based on previous theory and research about what they will find in their search for new knowledge. Other investigators formulate a research question that provides a direction for their research. Like scientific research, problem solving seeks answers to questions. It makes sense, then, for group members to formulate a question before searching for answers. By identifying a specific question they must answer, members can reduce some of the initial uncertainty accompanying their discussion. A discussion question should be phrased with considerable care. This is an important part of initiating and organizing any group discussion, particularly problem-solving discussions, because the quality and specificity of a question usually determine the quality of the answer. The better a group prepares a discussion question, the more clearly articulated will be the group’s goal, and the greater will be the chances for a productive and orderly discussion. For some group discussions and conferences, the questions are predetermined. Government committees and juries exemplify such groups. But usually groups are faced with a problem or need and are responsible for formulating a specific question to guide their deliberations. There are basically four types of discussion questions: (1) questions of fact, (2) questions of prediction, (3) questions of value, and (4) questions of policy. To help you determine which type is most appropriate for your various group discussions, we discuss each in the following sections.49 Questions of Fact Some questions of fact are phrased such that the answer to the question is either yes or no. Something either did or did not occur. (Although, of course, a yes or no response can be qualified in terms of the probability of its accuracy.) The question “Did the New York Yankees win the World Series in 2009?” is a question of fact—either they did or they did not. Questions of fact like that can simply be looked up online or in library sources and probably don’t require group deliberations. On the other hand, a group may be asked to investigate a question such as “Did John Smith violate our company ethics policy last year?” VIRTUAL GROUPS When working on a group or team project, it may be useful to share your initial research findings electronically via e-mail, a group Facebook page, or other electronic means. A study by Carol Saunders and Shaila Miranda concluded that virtual groups that collaborate only via e-mail or text typically have access to more information.50 According to the research, although face-to-face group meetings result in more information-sharing initially, over the long term, exchanging information via e-mail may ensure that more information is shared and that all members of the group receive the information. In addition to using e-mail, consider the following strategies to facilitate sharing information. Develop a group listserv through which any group member can send information to every other group member simultaneously. For an extensive group project, consider developing a group Web page, or use Facebook or other collaborative software program to develop a common virtual space in which to collaborate. In addition, your university may have its own e-learning system, such as Blackboard, to assist in virtual collaboration. Consider assigning roles to different members for maintaining the Web page, such as posting minutes of previous meetings, serving as the Web master of the site, and keeping track of whether projects are completed on time. Periodically ask group members if they have information to share with all group members. Dennis Gouran suggests that one way to investigate a question of fact is to construct a story or narrative to answer the discussion question.51 To determine, for example, whether John Smith did violate an ethics policy, the group should reconstruct what John Smith did or did not do. The reconstruction involves developing a story with a beginning, a middle, and an end to answer the question. In trying to answer a question of fact, make sure that all group members understand the key words and phrases in the discussion question. For example, faced with the question “Are there more incidents of terrorism in the United States today than there were before September 11, 2001?” a group will want to clearly define what an “incident of terrorism” is before answering the question. Does it mean any act of violence? By reducing the ambiguity of a question, a group can save considerable time in agreeing on a final answer. Your group’s objective will determine whether or not you should investigate a question of fact. If the group needs to discover what is true and what is false, then formulate a question of fact and define the key words in the question to give it greater focus and clarity. If the group needs to make a less objective value judgment or to suggest solutions to a problem, choose one of the types of questions discussed below. Questions of Prediction Will a tuition increase result in the university’s having a balanced budget? Will the levee withstand a force-3 hurricane? Will the new airport security measures make air travel safer? A question of prediction asks whether something is likely to occur or may occur under a certain set of circumstances. In the question “Will a tuition increase result in the university’s having a balanced budget?” the set of circumstances is a tuition increase. How does a group attempt to answer such a question? Groups look for examples of what happened in similar situations. For instance, the university might survey other universities to see how their budgets were affected when tuition was increased. Groups may also simply use logic and reasoning based on the available evidence to determine what will or will not happen in the future. Will you use questions of prediction when communicating with others in small groups? That’s a question of prediction that you’ll answer based on your past experiences. Group researcher Dennis Gouran suggests that, when investigating questions of prediction, an appropriate agenda for groups to follow would include these four steps:52 1. Develop if-then statements: Identify one or more if-then statements to focus and clarify the issues. Here’s an example of an if-then statement: If tuition is increased, then the university will have a balanced budget. Here’s another if-then statement: If tuition is increased, then the university can continue its exp

Finance/math questions | Business & Finance homework help

 
 
66) Northwest Industries is considering a project with the following cash flows:Initial Outlay = $2,800,000After-tax operating cash flows for years 1-4 = $850,000 per yearAdditional after-tax terminal cash flow at end of Year 4 = $125,000Compute the net present value of this project if the company’s discount rate is 14%. a. $239,209 b. $725,000 c. -$138,561 d. -$249,335 67) Compute the payback period for a project with the following cash flows re ceived uniformly within each year:Initial Outlay = $100Cash Flows: Year 1 = $40Year 2 = $50Year 3 = $60 a. 2.17 yearsb. 3 years c. 4 years d. 3.17 years 18Final ExaminationIntroduction to Financial Management68) What is the net present value’s assumption about how cash flows are re-invested? a. They are reinvested at the IRR. b. They are reinvested only at the end of the project. c. They are reinvested at the APR. d. They are reinvested at the firm’s discount rate. 69) Your firm is considering an investment that will cost $750,000 today. Theinvestment will produce cash flows of $250,000 in year 1, $300,000 in years 2 through 4, and $100,000 in year 5. The discount rate that your firm uses for projects of this type is 13.25%. What is the investment’s profitabilityindex? a. 1.4 b. 1.6 c. 1.2 d. .2 70) If the NPV (Net Present Value) of a project with multiple sign reversals ispositive, then the project’s required rate of return ________ its calculated IRR (Internal Rate of Return). a. must be greater than b. could be greater or less than c. must be less than d. Cannot be determined without actual cash flows. 71) Determine the five-year equivalent annual annuity of the following project ifthe appropriate discount rate is 16%:Initial Outflow = $150,000Cash Flow Year 1 = $40,000Cash Flow Year 2 = $90,000Cash Flow Year 3 = $60,000Cash Flow Year 4 = $0Cash Flow Year 5 = $80,000 a. $8,520 b. $7,058c. $9,872 d. $9,454 Final Examination19Introduction to Financial Management72) Your company is considering the replacement of an old delivery van with anew one that is more efficient. The old van cost $30,000 when it waspurchased 5 years ago. The old van is being depreciated using the simplified straight-line method over a useful life of 10 years. The old van could besold today for $5,000. The new van has an invoice price of $75,000, and itwill cost $5,000 to modify the van to carry the company’s products. Costsavings from use of the new van are expected to be $22,000 per year for5 years, at which time the van will be sold for its estimated salvage value of $15,000. The new van will be depreciated using the simplified straightline method over its 5-year useful life. The company’s tax rate is 35%. Working capital is expected to increase by $3,000 at the inception of the project,but this amount will be recaptured at the end of year five. What is the incremental free cash flow for year one? a. $22,250 b. $18,850 c. $21,305 d. $19,900 73) The recapture of net working capital at the end of a project will a. increase terminal year free cash flow by the change in net working capitaltimes the corporate tax rate. b. increase terminal year free cash flow. c. decrease terminal year free cash flow by the change in net working capitaltimes the corporate tax rate. d. have no effect on the terminal year free cash flow because the net workingcapital change has already been included in a prior year. 74) A new machine can be purchased for $1,000,000. It will cost $65,000 to ship and $35,000 to modify the machine. A $30,000 recently completedfeasibility study indicated that the firm can employ an existing factory ownedby the firm, which would have otherwise been sold for $150,000. The firmwill borrow $750,000 to finance the acquisition. Total interest expense for5-years is expected to approximate $250,000. What is the investment cost of the machine for capital budgeting purposes? a. $2,030,000 b. $1,530,000 c. $1,100,000 d. $1,250,000 e. $1,280,000 20Final ExaminationIntroduction to Financial Management75) PDF Corp. needs to replace an old lathe with a new, more efficient model. The old lathe was purchased for $50,000 nine years ago and has a current book value of $5,000. (The old machine is being depreciated on a straightline basis over a ten-year useful life.) The new lathe costs $100,000. It willcost the company $10,000 to get the new lathe to the factory and get it installed. The old machine will be sold as scrap metal for $2,000. The new machine is also being depreciated on a straight-line basis over ten years. Sales are expected to increase by $8,000 per year while operating expenses are expected to decrease by $12,000 per year. PDF’s marginal tax rate is40%. Additional working capital of $3,000 is required to maintain the newmachine and higher sales level. The new lathe is expected to be sold for $5,000 at the end of the project’s ten-year life. What is the project’s terminalcash flow? a. $8,000 b. $6,000 c. $5,000 d. $3,000 76) Advantages of using simulation include: a. a range of possible outcomes presented. b. is good only for single period investments since discounting is not possible. c. adjustment for risk in the resulting distribution of net present values. d. graphically displays all possible outcomes of the investment. 77) A company has preferred stock that can be sold for $28 per share. The preferred stock pays an annual dividend of 5% based on a par value of $100.Flotation costs associated with the sale of preferred stock equal $1.50 pershare. The company’s marginal tax rate is 35%. Therefore, the cost of preferred stock is: a. 18.87% b. 17.86% c. 11.61% d. 12.26% 78) Which of the following differentiates the cost of retained earnings from thecost of newly-issued common stock? a. The flotation costs incurred when issuing new securities. b. The greater marginal tax rate faced by the now-larger firm. c. The larger dividends paid to the new common stockholders. d. The cost of the pre-emptive rights held by existing shareholders.Final Examination21Introduction to Financial Management79) General Bill’s will issue preferred stock to finance a new artillery line. Thefirm’s existing preferred stock pays a dividend of $4.00 per share and is selling for $40 per share. Investment bankers have advised General Bill thatflotation costs on the new preferred issue would be 5% of the selling price.The General’s marginal tax rate is 30%. What is the relevant cost of newpreferred stock? a. 15.00% b. 7.37% c. 10.00% d. 10.53% e. 7.00%

Case 5 | Marketing homework help

case study eBay
 
Questions 1. Why has eBay succeeded as an online auction marketplace while so many others have failed?
 
 2. Evaluate eBay’s fee structure. Is it optimal or could it be improved? Why? How?
 
3. What’s next for eBay? How does it continue to grow when it needs both buyers and sellers? Where will this growth come from?
 
 
 
 
 
 
Your APA formatted Case Study should be a minimum of 500 words (not including the title and references pages). You are required to use a minimum of three peer-reviewed, academic sources that are no more than five years old (one of which may be your textbook). All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations
 
 
 
In 1995, Pierre Omidayar, a French-Iranian immigrant, wrote the code for an auction Web site where everyone would have equal access to a single global marketplace. Omidayar couldn’t believe it when a collector bought the first item, a broken laser pointer, for $14.83.* Soon the site grew into a broader auction site where consumers could auction collectibles such as baseball cards and Barbie dolls. The momentum continued when individuals and small businesses discovered that eBay was an efficient way to reach new consumers and other businesses. Large companies began using eBay as a means of selling their bulk lots of unsold inventory. Today, people can buy and sell virtually any product or service, on the world’s largest online marketplace. From appliances and computers to cars and real estate, sellers can list anything as long as it is not illegal or violates eBay’s rules and policies. eBay’s success truly created a pricing revolution by allowing buyers to determine what they would pay for an item; the result pleases both sides because customers gain control and receive the best possible price while sellers make good margins due to the site’s efficiency and wide reach. For years, buyers and sellers used eBay as an informal guide to market value. Even a company with a new-product design that wanted to know the going price for anything from a copier to a new DVD player checked on eBay. eBay has evolved to also offer a fixed-price “buy it now” option to those who don’t want to wait for an auction and are willing to pay the seller’s price. Sellers can also use the fixed price format with a “best offer” option that allows the seller to counteroffer, reject, or accept an offer. The impact of eBay’s global reach is significant. In 2009, over $60 billion worth of goods was sold on eBay—that’s almost $2,000 worth every second. The site has 405 million registered and 90 million active users and receives 81 million unique visitors a month. More than 1 million members make their living from the site. Yet eBay itself doesn’t buy any inventory or own the products on its site. It earns its money by collecting fees: an insertion fee for each listing plus a final-value fee based on the auction or fixed price. For example, if an item sells for $60.00, the seller pays 8.75 percent on the first $25.00 ($2.19) plus 3.5 percent on the remaining $35.00 ($1.23). Therefore, the final-value fee for the sale is $3.42. This pricing structure was developed to attract high-volume sellers and deter those who list only a few low-priced items. With eBay’s expansion into a wide range of other categories—from boats and cars and travel and tickets to health and beauty and home and garden—collectibles now make up only a small percentage of eBay sales. eBay’s business model is based on connecting individuals who otherwise would not be connected. It was the first example of online social networking, years before Twitter and Facebook existed, and consumer trust is a key element of its success. While skeptics initially questioned whether consumers would buy products from strangers, Omidayar believed people are innately good, and eBay’s originators did two things well: they worked hard to make their Web site a community, and they developed tools to help reinforce trust between strangers. The company tracks and publishes the reputations of both buyers and sellers on the basis of feedback from each transaction. eBay extended its feedback service in 2007 by adding four different seller categories: items as described, communication, shipping time, and shipping and handling rate. The ratings are anonymous but visible to other buyers. Sellers with the highest rankings appear at the top of search results. eBay’s millions of passionate users also have a voice in all major decisions the company makes through its Voice of the Customer program. Every few months, eBay brings in as many as a dozen sellers and buyers and asks them questions about how they work and what else eBay needs to do. At least twice a week the company holds hour-long teleconferences to poll users on almost every new feature or policy. The result is that users (eBay’s customers) feel like owners, and they have taken the initiative to expand the company into ever-new territory. *Some falsely believe that eBay was created to help Omidayar’s girlfriend find and collect Pez candy dispensers. That story, however, was created by an employee to help generate initial interest in the company. eBay continues to expand its capabilities to build its community and connect people around the world by adding services, partnerships, and investments. The company acquired PayPal, an online payment service, in 2002 after eBay members made it clear that PayPal was the preferred method of payment. The acquisition lowered currency and language barriers and allowed merchants to easily sell products around the world. eBay also acquired Skype Internet voice and video communication service in 2005, which allowed buyers and sellers to communicate over voice or video free and generated additional ad revenue for eBay. However, in 2009 eBay sold a majority stake in Skype to focus more on its e-commerce and payments businesses, leading the company to acquire Shopping.com, StubHub, Bill Me Later, and others. eBay now has a presence in 39 markets around the world. Although eBay was a darling in the dot-com boom and has achieved tremendous success since then, it is not without challenges. These include a worldwide recession, increased competition from Google, and difficulties as it expands globally into tough markets such as China. Its CEO, Meg Whitman, retired in 2008 after leading the company for 10 years and was replaced by John Donahue. Under its new leadership, the company continues to focus on one of its founding beliefs: a strong commitment to and investment in technologies that help people connect. Recent efforts to adopt mobile applications, integrate with iPhones, and become more green have helped take the company to the top of such lists such as Newsweek’s Greenest Companies in America and Fortunes 100 Best Companies to Work For in back-to-back years.
 

Assignment week 7 | Mathematics homework help

Assignment Week 7
 
Question 1
To compare commuting times in various locations, independent random samples were obtained from the six cities presented in the “Longest Commute to Work” graphic on page 255 in your textbook. The samples were from workers who commute to work during the 8:00 a.m. rush hour. One-way Travel to Work in Minutes

Atlanta

Boston

Dallas

Philadelphia

Seattle

St. Louis

29

18

42

29

30

15

21

37

25

20

23

24

20

27

26

33

31

42

15

25

32

37

39

23

37

32

20

42

14

33

26

34

26

18

48

35

Construct a graphic representation of the data using six sid-by-side dotplots.
Visually estimate the mean commute time for each city and locate it with an X.
Does it appear that different citites have different effects on the average amount of time spent by workers who commute to work during the 8:00 a.m. rush hour? Explain.
Does it visually appear that different cities have different effects on the variation in the amount of time spent by workers wo commute to work during the 8:00 a.m. rush hour? Explain.

Part 2

Calculate the mean commute time for each city depicted.
Does there seem to be a difference among the mean one-way commute times for these six cities?
Calculate the standard deviation for each city’s commute time.
Does there seem to be a difference among the standard deviations between the one-way commute times for these six cities?

Part 3

Construct the 95% confidence interval for the mean commute time for Atlanta and Boston.
Based on the confidence intervals found does it appear that the mean commute time is the same or different for these two cities (Atlanta and Boston). Explain
Construct the 95% confidence interval for the mean commute time for Dallas.
Based on the confidence intervals found in (Atlanta and Boston) and Dallas does it appear that the mean commute time is the same or different for Boston and dalls? Explain.
Based on the confidence levels found in (Atlanta and Boston) and (Dallas) does it appear that the mean commute time is the same or different for the set of three cities, Atlanta, Boston, and Dallas? Explain
How doe your confidence intervals compare to the intervals given for Atlant, Boston, and Dallas in “Longest Commute to Work” on page 255?

Question 2
Interstate 90 is the longest of the east-west U.S. interstate highways with its 3,112 miles stretching from Boston, MA at I-93 on the eastern end to Seattle WA at the Kingdome on the western end. It travels across 13 northern states; the number of miles and number of intersections in each of those states is listed below.

State

No. of Inter

Miles

WA

57

298

ID

15

73

MT

83

558

WY

23

207

SD

61

412

MN

52

275

WI

40

188

IL

19

103

IN

21

157

OH

40

244

PA

14

47

NY

48

391

MA

18

159

Construct a scatter diagram of the data.
Find the equation for the line of best fit using x= miles and y=intersections.
Using the equation found in part (b), estimate the average number of intersections per mile along I-90.
Find a 95% confidence interval for ?1.
Explain the meaning of the interval found in part d.

Zimbardos experiment | Social Science homework help

Read “Zimbardo’s Experiment: The Individual and the Social Role,” located on page 48 of the textbook. Discuss one (1) alternative approach to the one used in the Zimbardo experiment to investigate how role expectations shape behavior. Provide a rationale for your response.
 Here is the information :
Zimbardo’s Experiment: The Individual and the Social Role Social psychologist Philip Zimbardo (1974; Haney, Banks, & Zimbardo, 1973) wanted to investigate how role expectations shape behavior. He was intrigued by the possibility that the frequently observed cruelty of prison guards was a consequence of the institutional setting and role, not the guards’ personalities. In an experiment that has since become well known, Zimbardo converted the basement of a Stanford University building into a makeshift prison. A newspaper ad seeking young men to take part in the experiment for pay drew 70 subject candidates, who were given a battery of physical and psychological tests to assess their emotional stability and maturity. The most mature 24 were selected for the experiment and randomly assigned to roles as “guards” or “prisoners.” Those assigned to be prisoners were “arrested,” handcuffed, and taken to the makeshift prison by the Palo Alto police. The behavior of the guards and the prisoners was filmed. Within a week, the prison setting took on many of the characteristics of actual prisons. The guards were often aggressive and seemed to take pleasure in being cruel. The prisoners began planning escapes and expressed hostility and bitterness toward the guards. The subjects in the experiment so identified with their respective roles that many of them displayed signs of depression and anxiety. As a result, some were released early, and the experiment was canceled before the first week was over. Since the participants had all been screened for psychological and physical problems, Zimbardo concluded that the results could not be attributed to their personalities. Instead, the prison setting itself (the independent variable) appeared to be at the root of the guards’ brutal behavior and the prisoners’ hostility and rebelliousness (the dependent variable). Zimbardo’s research shows how profoundly private lives are shaped by the behavioral expectations of the roles we occupy in social institutions.
 
Despite questions about the ethics of Philip Zimbardo’s experiment, sociologists still study his work. Is it wrong to use research data gathered by means we now consider unethical? Do the results of research ever justify subjecting human beings to physical or psychological discomfort, invasion of privacy, or deception? Stanford University archives Think It Through▶?Zimbardo’s experiment could not be repeated today, as it would violate guidelines for ethical research with human subjects. How might a researcher design an ethical experiment to test the question of the circumstances under which apparently “normal” individuals will engage in violent or cruel acts?
 
 
Reference : DISCOVERY SOCIOLGY SECOND EDITION Chambliss, William J. ; Eglistis, Diana S.
 
 Only need 1-2 paragraphs
 
 

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Fin 4460 exam 3 | Business & Finance homework help

  
Name____________________________________________
FIN 4460: Exam #3:  Summer 2021
Multiple-choice questions are worth 3 points each for a total of 30 points.
1. Residual Earnings is defined as:
a. (ROCE-required return) Book Value of Debt
b. (ROCE-required return) Book Value of Equity
c. (ROCE-required return) Book Value of the Enterprise
2. Normal Forward P/E ratio is defined as:
a. (1+r)/r
b. 1/r
c. r/ (1+r)
3. Trailing P/E is defined as:
a. (Price+Dividend)/ Earnings
b. Dividends/Earnings
c. Price/Earnings
4. Abnormal Earnings Growth (AEG) is defined as:
a. Cumulative-dividend earnings-normal earnings
b. (EPS+DPS) (1+r)
c. PV of EPS
5. Dividend earnings + earnings is associated with the:
a. Abnormal Earnings Growth Model
b. Residual Earnings Model
c. Earnings that are based on the change in residual earnings model
6. Abnormal Earnings Growth (AEG) can:
a. Be a positive, negative number or zero number
b. Only positive
c. Only negative
7. The minimum New York Stock exchange price is:
a. A negative dollar amount like – $1.00
b. A positive one dollar amount $1.00
c. At lowest zero
8.  The Change in Residual Earnings and Abnormal Earning Growth models use the following conceptual idea:
a. Future Value Interest Factor
b. Mixed Income Stream Factor
c. Perpetuity
9.  The change in Residual Earnings and Abnormal earnings growth models are based on the idea:
a. VPS = Book value per share + the present value of projected earnings
b. VPS= Earnings per share + the present value of projected earnings
c. VPS = Dividends per share + the future value of projected earnings
10. The estimated formula value per share is $43 and the market price is $35. What should an investor that has a portfolio of stocks do?
a. Buy
b. Sell
c Hold
Problems: 70 points. Theyare shown on a per share basis.
Please show all of you work on the exam. Type your answers onto the exam. Thanks
1. Use the following information to calculate: A. Normal Forward P/E, b. Trailing P/E and c. Normal Trailing P/E.
The required return is 8% 
Market Price per share $37.50
DPS= $.25
EPS =$3.00
Calculate the Following Ratios:
A: Normal Forward P/E:
B: Trailing P/E
C. Normal Trailing P/E:
2. Calculate the estimated value per share using theChange in Residual Earnings Method: Complete the chart:
N   0 1 2 3
2010 2011 2012 2013 2014
EPS $3.00 $3.60 $4.10 $5.50 
DPS    .25  .25  .30 .35
Difference 
BPS $15.00   
ROCE 
Residual Earnings 
Change in RE 
PV Change RE 
 PV of CV 
Total 
Capitalized VPS  ________________________________________________________________________
Show RE Calculation: below
RE 2011: 
RE 2012: 
RE 2013: 
RE 2014: _________________________________________________________________________
The required return is 8% and the growth rate is 2.5% after 2014.
CV uses the (1+g) adjustment
A. Complete the Table:
B. Calculate Value per Share using the change in residual earnings model:
3. Calculate the Abnormal Earnings Growth (AEG) Model using the information shown below:
Part A. Complete the Table. Please, note that DPS is show first followed by EPS.
Table ($) numbers are per share not total earnings or dividends.
N 0  1  2  3
 2011   2012  2013  2014
DPS  .25  .25   .30   .35
EPS   3.00  3.60 4.10  5.50
DPS earnings  
EPS+ DPS earnings 
Normal Earnings 
AEG  
PV of AEG 
PV of Continuing Value 
Total 
Capitalized VPS 
The growth rate after 2014 is 2.5% and reinvestment rate and discount rate or capitalization rate is 8%. Complete the chart.
CV uses the (1+g) adjustment
4. Chapter 7: Calculate the Expected Return (r) given the following information.
· The Book to Price ratio is 90%.
· Price is $100
· Growth rate (g) is 7%
· Earnings per share are $3.00
· Book Value is $90 per share
Calculate Expected Return:
5. Calculate the growth rate of a stock using the Residual Earnings Method that pays:
· EPS= $3.20
· Required return on equity is 3%
· BPS = $90
· Price per share is $100
Part A: Show the formula, load numbers into the formula and calculate the growth rate using Reverse Engineering “g”.

Part 1 & 2 | Human Resource Management homework help

Part 1 – 400 words
Earlier today, you attended a meeting with Shawn Williams, the new VP of global human capital management at Atlantis Global Corporation (AGC), and John Dawson, the company’s chief executive officer (CEO). John was very concerned about the financial losses at AGC. John’s main concerns were product market share and the threat of losing AGC’s market position as the top manufacturer of electronic circuit boards for high-definition television screens. However, John did not mention any issues relating to the employees who work at AGC. Last month, the general manager of one of AGC’s global subsidiaries told Shawn that it is difficult to recruit talent for AGC, that employees are not happy, and that many are leaving AGC to work for other organizations. Shawn discussed developing a new recognition-and-rewards program to attract talent, motivate employees, and improve job satisfaction. When Shawn brought the up human capital concerns at AGC in the meeting, John was not very interested and thought that employee-related issues are not critical to AGC’s performance. Shawn thinks that it will be challenging to work with John to implement a global human capital management strategy.
You and Shawn are scheduled to meet next week with John and the board of directors at AGC. Due to the urgency of the company’s situation, you and Shawn decide to create a briefing about the value and need for an optimized program for the management of global human capital.
Review the AGC scenario for this course and with your classmates; discuss the following questions that will help you and Shawn prepare for the briefing:

What are the differences between the leadership styles of Shawn and John? What are the pros and cons of each style?
What is your own leadership style? During the briefing, how will you use your leadership style to illustrate the intrinsic value of human capital? 
What human capital management strategies will you recommend to John and the board of directors? What examples from other organizations can you provide to strengthen the board’s knowledge of global human capital trends and problems?

Part 2 – 400 words
The briefing to John and the board of directors was a success. You and Shawn believe that it allowed them to understand the challenges associated with managing global human capital effectively and the value of recognizing human capital as a critical part of AGC’s strategic plan. John and the board of directors gave every indication that they understood the sense of urgency needed to align the key global human capital goals with those established for the entire global organization. In fact, they asked you to move ahead with developing global human capital goals for AGC as part of its strategic plan.
You will begin by evaluating the existing organizational culture and analyzing the leadership styles used at each global AGC subsidiary. The company has several global subsidiaries, each with significant cultural differences. Shawn believes that AGC would benefit from an organizational culture that is more proactive and competitive. Likewise, he believes that leadership development programs should focus on styles that recognize the importance of celebrating diversity, empowerment, and innovation.
Review the AGC scenario for this course and discuss the following with your peers:

Using AGC as an example, what human capital management problems can arise when an organization does not acknowledge cultural differences at its global subsidiaries?
How can leadership styles effect global organizational culture?
Describe a human capital management goal that Shawn can recommend to change the global organizational culture of AGC.

Nurs 6221: managing human resources – discussion 5 (grading rubic

Discussion: Strengths-Based Leadership
 
The task of leadership is not to put greatness into people, but to elicit it, for the greatness is there already.
 
—John Buchan
 
It can be demoralizing when managers focus primarily on the deficiencies of employees, yet it can sometimes be difficult to see beyond the negatives. Strengths-based leadership is a management approach that not only recognizes an individual’s strengths, but also draws upon these strengths to enhance the dynamics of the workplace. Strengths-based leadership can be applied to employees performing at their personal best or to those who may need redirection. In addition, the principles of strengths-based leadership can be carried over to managers themselves. When nurse managers are aware of their own strengths, they can better leverage them to effectively manage difficult situations.
 
To prepare
 
Review the article “Know Your Own Strength.” How can strengths-based leadership improve the skills and attitudes of employees?
Reflect on your own personal and professional leadership strengths. Consider how you might use these strengths to manage staff members who seem to be disengaged or problematic. In addition, determine how you might use these strengths to resolve difficult situations between employees.
Recall a time when you either observed a disengaged or problematic employee(s) at work or observed a difficult or conflict situation between employees.
Imagine that you were the nurse manager in the above situation. How might you have used your strengths to effectively manage this employee or situation? Also, give some thought to the strengths of those posing the problem. How might you have used their strengths to resolve the situation?
 
 
Post an explanation of what you consider to be your top two strengths as a leader. Then, briefly describe the situation you selected and explain how you could leverage your own strengths (applying strengths-based leadership) to successfully manage that situation. Explain at least two ways you might also capitalize on the strengths of the employee(s) involved to successfully resolve the situation.
 
Read a selection of your colleagues’ responses.
 
Respond to at least two of your colleagues on two different days using one or more of the following approaches:
Suggest another way a colleague might capitalize on the identified strengths of the employee(s).
Ask a probing question, substantiated with additional background information and evidence or research.
Expand on a colleague’s posting by providing additional insights or contrasting perspectives based on readings and evidence.
Validate an idea with your own experience and additional research.
 
 
Required Readings
 
Lussier, R. N., & Hendon, J. R. (2016). Human resource management: Functions, applications, & skill development (2nd ed.). Thousand Oaks, CA: Sage Publications.
Chapter 7, “Training, Learning, Talent Management, and Development” (pp. 234–274)
Chapter 7 explores many types of training that organizations can offer new employees, such as on-the-job training, classroom training, and e-learning. It also highlights career development opportunities for existing employees.
Manion, J. (2011). From management to leadership: Strategies for transforming health care (3rd ed.). San Francisco, CA: Jossey-Bass.
Chapter 7, “Coaching and Developing Others” (pp. 283–349)
This chapter compares the roles of leader and coach and explains why some leaders fail to employ effective coaching strategies. The author discusses coaching best practices and reviews in depth one practice, the six-step coaching model.
Kanefield, A. (2011). Know your own strength. Smart Business St. Louis, 4(2), 6.
Retrieved from the Walden Library databases.
 
This article provides simple rationale for employing strengths-based leadership in clinical settings.
Tyra, S. (2008). Coaching nurses: A real example of a real difference. Creative Nursing, 14(3), 111–115.
Retrieved from the Walden Library databases. 
 
The author of this article uses an authentic coaching example to explain the stages of the coaching process. The author identifies coaching strategies as well as general feelings both the coach and the nurse might experience.
Optional Resources
 The Trustees of the University of Pennsylvania. (2006). Authentic happiness.Retrieved from https://www.authentichappiness.sas.upenn.edu/
 Ellisen, K. (2011). Mentoring smart. Nursing Management, 42(8), 12–16.
Meister, J. C., & Willyerd, K. (2010). Mentoring millennials. Harvard Business Review, 88(5), 68–72.

Minimum number of toll collectors

Oakton River Bridge The Oakton River had long been considered an impediment to the development of a certain medium-sized metropolitan area in the southeast. Lying to the east of the city, the river made it difficult for people living on its eastern bank to commute to jobs in and around the city and to take advantage of the shopping and cultural attractions that the city had to offer. Similarly, the river inhibited those on its western bank from access to the ocean resorts lying one hour to the east. The bridge over the Oakton River had been built prior to World War II and was grossly inadequate to handle the existing traffic, much less the increased traffic that would accompany the forecasted growth in the area. A congressional delegation from the state prevailed upon the federal government to fund a major portion of a new toll bridge over the Oakton River and the state legislature appropriated the rest of the needed monies for the project.
Progress in construction of the bridge has been in accordance with what was anticipated at the start of construction.
The state highway commission, which will have operational jurisdiction over the bridge, has concluded that the opening of the bridge for traffic is likely to take place at the beginning of the next summer, as scheduled. A personnel task force has been established to recruit, train, and schedule the workers needed to operate the toll facility. The personnel task force is well aware of the budgetary problems facing the state. They have taken as part of their mandate the requirement that personnel costs be kept as low as possible. One particular area of concern is the number of toll collectors that will be needed. The bridge is scheduling three shifts of collectors: shift A from midnight to 8 A.M., shift B from 8 A.M. to 4 P.M., and shift C from 4 P.M. to midnight.
Recently, the state employees union negotiated a contract with the state which requires that all toll collectors be permanent, full-time employees. In addition, all collectors must work a five-on, two-off schedule on the same shift. Thus, for example, a worker could be assigned to work Tuesday, Wednesday, Thursday, Friday, and Saturday on shift A, followed by Sunday and Monday off. An employee could not be scheduled to work, say, Tuesday on shift A followed by Wednesday, Thursday, Friday, and Saturday on shift B or on any other mixture of shifts during a 5-day block. The employees would choose their assignments in order of their seniority.
The task force has received projections of traffic flow on the bridge by day and hour. These projections are based on extrapolations of existing traffic patterns—the pattern of commuting, shopping, and beach traffic currently experienced with growth projections factored in. Standards data from other state operated toll facilities have allowed the task force to convert these traffic flows into toll collector requirements, that is, the minimum number of collectors required per shift, per day, to handle the anticipated traffic load. These toll collector requirements are summarized in the following table: Minimum Number of Toll Collectors Required per Shift

SHIFT

SUN.

MON.

TUE.

WED.

THU.

FRI.

SAT.

A

8

13

12

12

13

13

15

B

10

10

10

10

10

13

15

C

15

13

13

12

12

13

8

The numbers in the table include one or two extra collectors per shift to fill in for collectors who call in sick and to provide relief for collectors on their scheduled breaks. Note that each of the eight collectors needed for shift A on Sunday, for example, could have come from any of the A shifts scheduled to begin on Wednesday, Thursday, Friday, Saturday, or Sunday.
Discussion Questions
1. Determine the minimum number of toll collectors that would have to be hired to meet the requirements expressed in the table.
2. The union had indicated that it might lift its opposition to the mixing of shifts in a 5-day block in exchange for additional compensation and benefits. By how much could the number of toll collectors required be reduced if this is done?

Acct 346 midterm | Business & Finance homework help

1. Question : (TCO 1) Managerial accounting stresses accounting concepts and procedures that are relevant to preparing reports for
taxing authorities.
internal users of accounting information.
external users of accounting information.
the Securities and Exchange Commission (SEC).
2. Question : (TCO 1) Which of the following costs does not change when the level of business activity changes?
total fixed costs
total variable costs
total direct materials costs
fixed costs per unit
3. Question : (TCO 1) You own a car and are trying to decide whether or not to trade it in and buy a new car. Which of the following costs is an opportunity cost in this situation?
the trip to Cancun that you will not be able to take if you buy the car
the cost of the car you are trading in
the cost of your books for this term
the cost of your car insurance last year
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. What is the budgeted fixed cost per unit?
$1.06
$1.44
$4.49
$1.94
5. Question : (TCO 1) Which of the following costs is not part of manufacturing overhead?
electricity for the factory
depreciation of factory equipment
salaries for the production supervisors
health insurance for sales staff
6. Question : (TCO 1) Product costs
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.
7. Question : (TCO 1) Red Runner’s Work in Process Inventory account has a beginning balance of $50,000 and an ending balance of $40,000. Direct materials used are $70,000 and direct labor used totals $35,000. Cost of goods sold totals $135,000. Manufacturing overhead applied is $20,000. How much is cost of goods manufactured?
$145,000
$115,000
$125,000
$135,000
8. Question : (TCO 2) BCS Company applies manufacturing overhead based on direct labor cost. 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 is the predetermined overhead rate?
2.00
1.90
30.00
1.93
9. Question : (TCO 2) During 2011, Madison Company applied overhead using a job-order costing system at a rate of $12 per direct labor hours. Estimated direct labor hours for the year were 150,000, and estimated overhead for the year was $1,800,000. Actual direct labor hours for 2011 were 140,000 and actual overhead was $1,670,000.
What is the amount of under or over applied overhead for the year?
$10,000 underapplied
$10,000 overapplied
$130,000 underapplied
$130,000 overapplied
10. Question : (TCO 3) Which of the following describes the differences between job-order and process costing?
Job-order costing is used in financial accounting while process costing is used in managerial accounting.
Job-order costing can only be used by manufacturers; service enterprises must use process costing.
Job-order costing is voluntary while process costing is mandatory.
Job-order costing traces costs to jobs while process costing traces costs to departments and averages the costs among the units worked on during the period.
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?
30,000
22,500
15,000
11,250
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?
$24.00
$16.20
$15.86
$13.58
13. Question : (TCO 4) Total costs were $75,800 when 30,000 units were produced and $95,800 when 40,000 units were produced. Use the high-low method to find the estimated total costs for a production level of 32,000 units.
$80,115
$76,000
$79,800
$91,800