COM 120 INTERPERSONAL COMMUNICATION QUIZ 1 TO QUIZ 11 (A+ Guaranteed)

Com 120 Interpersonal communication cHAPTER 1 Quiz

Com 120 Interpersonal communication Chapter 2 quiz

Com 120 Interpersonal communication Chapter 3 QUIZ

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Com 120 Interpersonal communication Chapter 6 QUIZ

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Com 120 Interpersonal communication Chapter 8 QUIZ

Com 120 Interpersonal communication Chapter 9 QUIZ

Com 120 Interpersonal communication Chapter 10 QUIZ

Com 120 Interpersonal communication Chapter 11 QUIZ

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Nordic Company, a merchandising company, prepares its master budget on a quarterly basis

Nordic Company, a merchandising company, prepares its master budget on a quarterly basis.  The following data have been assembled to assist in preparation of the master budget for the second quarter.
a. As of March 31 (the end of the prior quarter), the company’s balance sheet showed the following account balances:

Cash    $9,000
Accounts Receivable    48,000
Inventory    12,600
Building and equipment    214,100
Accounts Payable     $18,300
Capital Stock     190,000
Retained Earnings     75,400
Total    $283,700  $283,700

b. Actual sales for March and budgeted sales for April-July are as follows:

Actual Budgeted Budgeted Budgeted Budgeted
March April May June July  $245,000
$60,000  $70,000  $85,000  $90,000  $50,000

c.  Sales are 20% for cash and 80% on credit.  All payments on credit sales are collected in the month following the sale.  The A/R at March 31 are a result of March credit sales.
d. The company’s gross margin % is 40% of sales.  (In other words, cost of goods sold is 60% of sales.)

e. Monthly expenses are budgeted as follows:

Salaries and wages     $7,500  per month
Shipping     6% of sales
Advertising     $6,000  per month
Other expenses     4% of sales
Depreciation, including depreciation on new
assets acquired during the quarter, will be     $6,000  for the quarter

f. Each month’s EI should equal      30% of the following month’s COGS

g. Half of a month’s inventory purchases are paid for in the month of purchase and half in the following month.

h. Equipment purchases during the quarter will be as follows:

April   $11,500
May   $3,000

i. Dividends declared and paid in June $3,500

j. Management wants to maintain a minimum cash balance of $8,000. $8,000 The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month, up to a total loan balance of $20,000.  The interest rate on these loans is 1% per month, and for simplicity, we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter.

Required:  
Using the data above, complete the following statements and schedules for the second quarter:

1. Schedule of expected cash collections:
2. a. Merchandise purchases budget:
b. Schedule of expected cash disbursement for merchandise purchases:
3. Schedule of expected cash disbursements for selling & administrative
4. Cash Budget:
5. Prepare an absorption costing I/S statement for the quarter ending June 30
6. Prepare a balance sheet as of June 30.   

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The president of Univax, Inc., has just approached the company’s bank seeking short-term

The president of Univax, Inc., has just approached the company’s bank seeking short-term financing for the coming year, Year 2.  Univax is a distributor of commercial vacuum cleaners.  The bank has stated that the loan request must be accompanied by a detailed cash budget that shows the quarters in which financing will be needed, as well as the amounts that will be needed and the quarters in which repayments can be made.

To provide this information for the bank, the president has directed that the following data be gathered from which a cash budget can be prepared:

a. Budgeted sales and merchandise purchases for Year 2, as well as actual sales and purchases for the last quarter of Year 1, are as follows:
Merchandise
Year 1:     Sales  Purchases
Fourth quarter actual    $300,000   $180,000
Year 2:
First quarter, estimated    $400,000   $260,000
Second quarter, estimated    $500,000   $310,000
Third quarter, estimated    $600,000   $370,000
Fourth quarter estimated    $480,000   $240,000

b. The company typically collects 33% of a quarter’s sales before the quarter ends and another 65% in the following quarter.  The remainder is uncollectible.  This pattern of collections is now being experienced in the actual data for the Year 1 fourth quarter.

c. Some 20% of a quarter’s merchandise purchases are paid for within the quarter.  The remainder is paid in the follow quarter.

d. Selling & Administrative Expenses for Year 2 are budgeted at $90,000 per quarter plus 12% of sales. Of the fixed amount, $20,000 each quarter is depreciation.

e. The company will pay $10,000 in cash dividends each quarter.
f. Land purchases will be made as follows during the year:  $80,000 in the second quarter and $48,500 in the third quarter.

g. The Cash account contained $20,000 at the end of Year 1.  The company must maintain a minimum cash balance of at least $18,000.

h. The company has an agreement with a local bank that allows the company to borrow in increments of $10,000 at the beginning of each quarter, up to a total loan balance of $100,000. The interest rate on these loans is 1% per month, and for simplicity, we will assume that interest is not compounded. The company would, as far as it is able, replay the loan plus accumulated interest at the end of the year.

i. At present, the company has no loans outstanding.

Required:  
1. Prepare the following, by quarter and in total, for Year 2:
a. A schedule of expected cash collections on sales.
b. A schedule of expected cash disbursements for merchandise purchases.
2. Compute the expected cash disbursements for selling and administrative expenses, by quarter and in total, for Year 2
3. Prepare a cash budget by quarter and in total for Year 2.

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The budgeted unit sales of Haerve Company for the upcoming fiscal year

The budgeted unit sales of Haerve Company for the upcoming fiscal year are provided below:

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Budgeted unit sales 12,000         14,000         11,000         10,000

The company’s variable selling and administrative expense per unit is $2.75.  Fixed selling and Administrative expenses include advertising expenses of $12,000 per quarter, executive salaries of $40,000 per quarter, and depreciation of $16,000 per quarter.  In addition, the company will make insurance payments of $6,000 in the 2nd Quarter and $6,000 in the 4th Quarter.  Finally, property taxes of $6,000 will be paid in the 3rd Quarter.

Required: 
Prepare the company’s selling and administrative expense budget for the upcoming fiscal year.   

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The Production Department of the Riverside Plant of Junnen Corporation has submitted

The Production Department of the Riverside Plant of Junnen Corporation has submitted the following forecast of units to be produced at the plant for each quarter of the upcoming fiscal year.  The plant produces high-end outdoor barbecue grills.

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Units to be produced  5,000         4,400         4,500         4,900

Each unit requires 0.40 direct labor hours and direct labor workers are paid $11 per hour.

Required:       
1. Construct the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
2. Construct the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter.  Instead assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 1,800 hours of work each quarter.  If the number of required direct labor hours is less than this number, the workers are paid for 1,800 hours anyway.  Any hours worked in excess of 1,800 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for DL.

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Micro Products, Inc. has developed a very powerful electronic calculator

Micro Products, Inc. has developed a very powerful electronic calculator.  Each calculator requires 3 small “chips” that cost $2 each and are purchased from an overseas supplier.  Micro Products has prepared a production budget for the calculator by quarters for Year 2 and for the first quarter of Year 3, as shown below:

1st Quarter Y2 2nd Quarter Y2 3rd Quarter Y2 4th Quarter Y2 1st Quarter Y3
Budgeted Production (Calculators)     60,000 90,000 150,000 100,000 80,000

The chip used in production of the calculator is sometimes hard to get, so it is necessary to carry large inventories as a precaution against stockout.  For this reason, the inventory of chips at the end of a quarter must be equal to 20% of the following quarter’s production needs.  Some 36,000 chips will be on hand to start the first quarter of Year 2.

Required:        

Prepare a direct materials budget for chips, by quarter and in total, for Year 2.  At the bottom of your budget,show the dollar amount of purchases for each quarter and for the year in totals. 

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Manager Chris Channing of Fabric Mills, Inc., has developed the forecast

Manager Chris Channing of Fabric Mills, Inc., has developed the forecast shown in the table for bolts of cloth. The figures are in hundreds of bolts. The department has a normal capacity of 275(00) bolts per month, except for the seventh month, when capacity will be 250(00) bolts. Normal output has a cost of $40 per hundred bolts. Workers can be assigned to other jobs if production is less than normal. The beginning inventory is zero bolts.

Month    1    2    3    4    5    6    7    Total
Forecast    250    300    250    300    280    275    270    1,925

a. Develop a chase plan that matches the forecast and compute the total cost of your plan. Overtime is $60 per hundred bolts. (Negative amounts should be indicated by a minus sign. Leave no cells blank – be certain to enter “0″ wherever required. Omit the “$” sign in your response.)

b. Would the total cost be less with regular production with no overtime, but using a subcontractor to  handle the excess above normal capacity at a cost of $50 per hundred bolts? Backlogs are not allowed. The inventory carrying cost is $2 per hundred bolts. (Round your Average values to 1 decimal place. Negative amounts should be indicated by a minus sign. Leave no cells blank – be certain to enter “0″ wherever required. Omit the “$” sign in your response.)

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Wormwood, Ltd., produces a variety of furniture products

Wormwood, Ltd., produces a variety of furniture products. The planning committee wants to prepare an aggregate plan for the next six months using the following information:

MONTH
1    2    3    4    5    6
Demand    160    150    160    180    170    140
Capacity
Regular    150    150    150    150    160    160
Overtime    10    10    0    10    10    10

Cost Per Unit
Regular   time    $50
Overtime    75
Subcontract    80
Inventory, per period    4  


Subcontracting can handle a maximum of 10 units per month. Beginning inventory is zero. Develop a plan that minimizes total cost. No back orders are allowed. (Negative amounts should be indicated by a minus sign. Leave no cells blank – be certain to enter “0″ wherever required. Omit the “$” sign in your response.)

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Manager T. C. Downs of Plum Engines, a producer of lawn mowers and leaf blowers

Manager T. C. Downs of Plum Engines, a producer of lawn mowers and leaf blowers, must develop an aggregate plan given the forecast for engine demand shown in the table. The department has a normal capacity of 130 engines per month. Normal output has a cost of $60 per engine. The beginning inventory is zero engines. Overtime has a cost of $90 per engine.

Month
1    2    3    4    5    6    7    8    Total
Forecast    120    135    140    120    125    125    140    135    1,040

a. Develop a chase plan that matches the forecast and compute the total cost of your plan. (Negative amounts should be indicated by a minus sign. Leave no cells blank – be certain to enter “0″ wherever required. Omit the “$” sign in your response.)

b. Compare the costs to a level plan that uses inventory to absorb fluctuations. Inventory carrying cost is
$2 per engine per month. Backlog cost is $90 per engine per month. (Negative amounts should be indicated by a minus sign. Leave no cells blank – be certain to enter “0″ wherever required. Omit the “$” sign in your response.)

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A fast-growing firm recently paid a dividend of $0.40 per share

Variable Growth

A fast-growing firm recently paid a dividend of $0.40 per share. The dividend is expected to increase at a 25 percent rate for the next four years.  Afterwards, a more stable 11 percent growth rate can be assumed. If a 12.5 percent discount rate is appropriate for this stock, what is its value? 

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