MAT 510 Week 4 Assignment Case Study

MAT 510 Week 4 Assignment

Read the following case study.

Assuming the role of Ben Davis, write a three to four (3-4) page paper in which you apply the approach discussed in the textbook to this problem. You’ll have to make some assumptions about the processes used by the HMO pharmacy. Also, please use the Internet and / or Strayer LRC to research articles on common problems or errors that pharmacies face. Your paper should address the following points:

1. Develop a process map about the prescription filling process for HMO’s pharmacy, in which you specify the key problems that the HMO’s pharmacy might be experiencing. Next, use the supplier, input, process steps, output, and customer (SIPOC) model to analyze the HMO pharmacy’s business process.
2. Analyze the process map and SIPOC model to identify possible main root causes of the problems. Next, categorize whether the main root causes of the problem are special causes or common causes. Provide a rationale for your response.
3. Suggest the main tools that you would use and the data that you would collect in order to analyze the business process and correct the problem. Justify your response.
4. Propose one (1) solution to the HMO pharmacy’s on-going problem(s) and propose one (1) strategy to measure the aforementioned solution. Provide a rationale for your response.
5. Use at least two (2) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Describe how organizations use statistical thinking to be more competitive.
• Apply the basic principles of statistical thinking to business processes.
• Apply the SIPOC model to identify OFIs in business processes.
• Use technology and information resources to research issues in business process improvement.
• Write clearly and concisely about business process improvement using proper writing mechanics.

Here’s the SOLUTION

Posted in Homework Help | Comments Off

MAT 510 Homework Assignment 4 -

MAT 510 Homework Assignment 4
Due in Week 4 and worth 30 points

Discuss one (1) project where you used a problem-solving approach to address what turned out to be common-cause variation, or where you used a process improvement approach to deal with a special cause.
If you do not have a personal experience that echoes either of these situations, you may use Internet to search for a case that reflects either of these situations.

Examples:

• one’s personal investment strategy since 2008
• reducing waiting times at the local hospital or emergency room
• reducing difficulties trying to connect to a Wi-Fi Internet provider

Answer the following questions in the space provided below:

1. Describe the experience in the project.
2. What were the solutions used to address the problem?
3. Was the case you described a special-cause or common-cause?
4. Do you feel the solution or approach used appropriate for the cause?
5. What would you do if you could do it again?
6. What conclusions can you draw from the problem-solving or process-improvement techniques?

Note: You may create and / or make all necessary assumptions needed for the completion of this assignment. In your original work, you may use aspects of existing processes from either your current or a former place of employment. However, you must remove any and all identifying information that would enable someone to discern the organization(s) that you have used.

Here’s the SOLUTION

Posted in Homework Help | Comments Off

Statistical Process Control Methods to a business process

Purpose of Assignment

The purpose of this assignment is for students to learn how to apply Statistical Process Control Methods to a business process.

Assignment Steps

Resources: Microsoft® Excel® and PowerPoint®

Select a complex continuous process from your personal life or work. The process can be the same as in Week 1 assignment.

Complete the following:

Use Microsoft® Excel® to calculate the defined process metrics including variation and process capability.
Use Microsoft® Excel® and PowerPoint® to develop and display a control chart for the process.

Evaluate the control chart and process metrics using Statistical Process Control (SPC) methods.

Evaluate whether the process could benefit from the use of Six Sigma tools.

Develop a 525-word executive summary in which you describe your Statistical Process Control project and include the control chart with SPC.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Here’s the SOLUTION

Posted in Homework Help | Comments Off

Performance Castings Inc. casts blades for turbine engines

Cost of Production and Journal Entries

Performance Castings Inc. casts blades for turbine engines. Within the Casting Department, alloy is first melted in a crucible, then poured into molds to produce the castings. On March 1, there were 500 pounds of alloy in process, which were 40% complete as to conversion. The Work in Process balance for these 500 pounds was $59,200, determined as follows:

Direct materials (500 x $110) $55,000

Conversion (500 x 40% x $21) 4,200

$59,200

During March, the Casting Department was charged $498,200 for 4,700 pounds of alloy and $38,320 for direct labor. Factory overhead is applied to the department at a rate of 150% of direct labor. The department transferred out 4,900 pounds of finished castings to the Machining Department. The March 31 inventory in process was 30% complete as to conversion.

a1. Prepare the March journal entry for the Casting Department for the materials charged to production.

a2. Prepare the March journal entry for the Casting Department for the conversion costs charged to production. If an amount box does not require an entry, leave it blank.

a3. Prepare the March journal entry for the Casting Department for the completed production transferred to the Machining Department.

b. Determine the Work in Process—Casting Department March 31 balance.

c. Compute the change in costs per equivalent unit for direct materials and conversion from the previous month (February).

Cost per Equivalent UnitChange in materials – Increase / Decrease $Amount

Change in conversion – Increase / Decrease $Amount

Here’s the SOLUTION

Posted in Homework Help | Comments Off

Coronado Corporation is authorized to issue 55,000 shares of $5 par value

Coronado Corporation is authorized to issue 55,000 shares of $5 par value common stock. During 2017, Coronado took part in the following selected transactions.

1. Issued 4,500 shares of stock at $42 per share, less costs related to the issuance of the stock totaling $9,100.
2. Issued 1,200 shares of stock for land appraised at $55,000. The stock was actively traded on a national stock exchange at approximately $43 per share on the date of issuance.
3. Purchased 480 shares of treasury stock at $44 per share. The treasury shares purchased were issued in 2013 at $41 per share.

(a) Prepare the journal entry to record item 1.
(b)
Prepare the journal entry to record item 2.
(c)
Prepare the journal entry to record item 3 using the cost method.

Here’s the SOLUTION

Posted in Homework Help | Comments Off

Joe Dumars Company has outstanding 40,000 shares of $5 par common

Joe Dumars Company has outstanding 40,000 shares of $5 par common stock which had been issued at $30 per share. Joe Dumars then entered into the following transactions.

1. Purchased 5,000 treasury shares at $45 per share.
2. Resold 2,000 of the treasury shares at $49 per share.
3. Resold 500 of the treasury shares at $40 per share.

Indicate the effect each of the three transactions has on the financial statement categories listed in the table below, assuming Joe Dumars Company uses the cost method.

Here’s the SOLUTION

Posted in Homework Help | Comments Off

On August 2, 2004, Jerry Andrews, a dentist, opened a dental office

On August 2, 2004, Jerry Andrews, a dentist, opened a dental office. The following transactions were completed during the first month of operations:  

Aug 2       Jerry invested $20,000 cash and $13,200 worthNites of dental equipment in the business in exchange for common stock in a new corporation called J.A. Dentist, Inc.

Aug 3 Paid two months’ rent of $2,000.

Aug 4       Purchased $1,000 of dental supplies and paid cash.

Aug 4       Paid insurance premiums of $3,600 for a 1-year insurance policy.

Aug 6       Earned and collected dental fees of $14,600 in cash during the week.

Aug 9       Paid secretary a salary of $1,200.

Aug 10     Purchased $300 of dental supplies on account.

Aug 11     Purchased an automobile for business use. It cost $13,000. Jerry paid $3,000 cash and signed a note payable for the balance.

Aug 13     Received a $240 telephone bill that will be paid later in the month.

Aug 13     Billed customers $6,000 for dental fees earned during the week.

Aug 16     Received a $150 electric bill that will be paid later in the month.

Aug 18     Paid $300 for dental supplies purchased on Aug 10.

Aug 20     Earned and collected dental fees of $4,500 in cash during the week.

Aug 23     Paid secretary a salary of $1,200.

Aug 23     Received a $75 water bill that will be paid in September.

Aug 24     Paid $450 for advertising in a local newspaper.

Aug 25     Received $2,500 from customers on account.

Aug 27     Paid a dividend of $3,500 to Jerry Andrew the sole stockholder.

Aug 30     Paid the telephone and utility bills.

Aug 30     Billed customers $2,000 for dental fees earned during the week.

Aug 31     Received $1,500 from customers on account.

Required:

1.    Record the general journal entries for August 2004 transactions on the Journal Pages tab within the Excel Template (you may omit account descriptions and posting references).

2.    Post the general journal entries on the General Ledger tab.

3.    Prepare the trial balance to record the accounts’ ending balances as of August 31, 2004 on the Trail Balance tab.

4.    Record the adjusting entries on the Journal Pages tab and then post the adjusting entries to the general ledger on the General Ledger tab. Take the following transactions into consideration:

a.    Dental supplies on hand at the end of the month amount to $350.

b.    Make adjusting entry for the insurance premiums expired.

c.    Accrued $840 for salary earned that will be paid in September.

d.    Do you need an adjustment for rent expense?

e.    Ignore depreciation for this month. No adjustment needed.

5.    Prepare the adjusted trial balance to adjust the accounts that were affected as of August 31, 2004 on the Adjusted Trail Balance tab.

6.    Prepare the Financial Statements (Income Statement, Statement of Retained Earnings and Balance Sheet) as of August 31, 2004 on the Financial Statements tab.

7.    Since August 31, 2004 is the end of the fiscal year, record the closing entries on the Journal Pages tab and then post the closing entries to the general ledger on the General Ledger tab.

8.    Prepare a post-closing trial balance to close the accounts that were affected as of August 31, 2004 on the Post-Closing Trail Balance tab.

Here’s the SOLUTION

Posted in Homework Help | Comments Off

Complex Systems has an outstanding issue of $1,000-par-value bonds

Basic bond valuation. Complex Systems has an outstanding issue of $1,000-par-value bonds with a 12% coupon interest rate. The issue pays interest annually and has 16 years remaining to its maturity date.

a. if bonds of similar risk are currently earning a 10% rate of return, how much should the Complex Systems bond sell for today?

b. Describe the two possible reasons why the rate on similar-risk bonds is below the coupon interest rate on the Complex Systems Bond.

c. If the required return were at 12% instead of 10%, what would the current value of Complex Systems’ bond be? Contrast this finding with your findings in part a and discuss.

Here’s the SOLUTION

Posted in Homework Help | Comments Off

The Moore Company has sales of $500,000 that are recorded for book

The Moore Company has sales of $500,000 that are recorded for book purposes in 2014. For tax purposes, the company uses the installment sales method, resulting in revenue of $150,000 in 2014 and $350,000 in 2015. A temporary difference of $350,000 originates in 2014 and reverses in 2015.  Assume that the enacted tax rate for 2014 is 30 percent and that the enacted tax rate for 2015 is 40 percent and is known at the time the Deferred Tax account is established. The  deferred tax for the year 2014 results in a Deferred Tax

a.      Asset debit entry of $105,000

b.      Liability credit entry of $105,000

c.      Asset debit entry of $140,000

d.      Liability credit entry of $140,000

 

2. Assume the following facts for Moore Company in 2015:

Book income before tax: $800000. The following items were included in income:

Interest income of $80000 was received from an investment in municipal bands. This income is exempt for tax purposes.

Rent income of $20000 was collected in 2014 and included for tax purposes. For book purposes, it was reported as earned in 2015.

The following items were deducted from income:

An asset was purchased during 2015, and depreciation for book purposeswas $40000. There was $100000 deducted for tax purposes.

Warranty expense of $20,000 was recognized for book purposes, while $5,000 was recognized for tax purposes(assume a one-year warranty contract)

The balance of the Deferred Tax Asset account(debit) at January 1,2015, was $8,000 as a result of the rent income temporary difference. The tax rate for all years was 40 percent. What is the amount of taxable income for tax purpose?

a.      655.000

b.      625,000

c.      735,000

d.      755,000

3. Moore Company had book income before tax of $800,000 in 2015. The following items were included in book income before tax

1) tax-exempt municipal bond interest income of $80,000

2) rent income of $20,000 that was collected and included in income for tax purpose in 2014 but reported for book purposes are earned in 2015

3) tax depreciation in excess of book depreciation of $60,000

Warranty expense of $20,000 was recognized for book purposes, while $5,000 was recognized for tax purpose(assume a one-year warranty contract)

The balance of the deferred tax asset account(debit) at January 1,2015 was $8,000 as a result of the rent income temporary difference. The tax rate for all years was 40 percent. What is the balance of the deferred tax liability account at the end of 2015?

A. 24000

B. 18000

C. 8000

D. 6000

Here’s the SOLUTION

Posted in Homework Help | Comments Off

John is a US based Forex trader

John is a US based Forex trader. He focuses principally on the Singapore dollar/US dollar (S$/$) cross-rate. The current spot rate is S$1.40/$. After considerable study, he concludes that the exchange rate, in the coming 180 days, will probably be about S$1.34/$. He has the following options on the Singapore dollar to choose from:

Option

Strike Price

Premium

Put on S$

S$1.3600/$

$0.003/S$

Call on S$

S$1.3600/$

$0.004/S$

Discuss whether he should buy a Put on S$ or Call on S$, and what would be his net profit if the spot rate at the end of the 180 days is indeed S$1.34/$.

Here’s the SOLUTION

Posted in Homework Help | Comments Off