Consider all questions
1.In a certain department of a factory there are two shops. Total departmental overheads for a year are `1,20,000 and the estimated number of direct labour hour is 24,000 (10 men employed for 48 hours per week during 50 weeks in the year). From the particulars given below calculate the prime cost and works cost of a work order No. 54 which passes though both shops:
(1) Material consumed `1,000.
(2) Direct labor hours shop A -8hrs at '6.00 per hour
Shop B-5hrs 7.50 per hour
3) Works overheads are to be levied by means of a direct hour rate
2.How can consumer satisfaction be measured using perspectives of financial and non-financial measures.
3.What is just in time technique for managerial accounting.
4.How do you measure impact of managerial control on employees behavior
5.What are some alternative methods of measuring value of intangible assets
6.What impacts do managerial accounting for operation managers have in decision making and planning.
7.Discuss the need of database logical structures and their significance in effective management of database.
8.Why are retained earnings not distributed to shareholders in a public company.
9.State and explain when a company should report a balanced sheet
10.Why is volume a totally independent variable from price in the market
Question 3 Some researchers who utilise Legitimacy Theory posit that organisations will attempt to operate within the terms of their 'social contract". What is a social contract? Question 4 In 2006 the Australian Government established an inquiry into corporate social responsibilities with the aim of deciding whether the Corporations Act should be amended so as to specifically include particular social and environmental responsibilities within the Act. At the completion of the inquiry it was decided that no specific regulations would be added to the legislation, and that instead, 'market forces' would be relied upon to encourage companies to do the 'right thing' (that is, the view was expressed that if companies did not look after the environment, or did not act in a socially responsible manner, then people would not want to consume the organisations' products, and people would not want to invest in the organisation, work for them, and so forth. Because companies were aware of such market forces they would do the 'right thing' even in the absence of legislation). You are required to explain the decision of the government that no specific regulation be introduced from the perspective of: 1. Public Interest Theory 2. Capture Theory 3. Economic Interest Group Theory of regulation.QUESTION 11 If neither party has performed its obligations under a contract when a frustrating event occurs, they are both left Where they were before the contract was formed. 0 True 0 False QUESTION 12 Leslie offered to pay Murray $100 a day to show her dog in an upcoming three-day competition. Murray accepted and showed the young male dog, winning best of breed during each day's competition. Leslie paid Murray $300. What is the present status of their contractual arrangement? O a. The payment of the settlement ended the contract. 0 b. The contract terminated by agreement of the parties. O c. The contract has been terminated by performance. 0 d. The termination of the competition frustrated the contract. QUESTION 13 In which situation might a court be inclined to grant an injunction? Q a. where the contract contains a promise not to engage in specied activities 0 b. where thc court wishes to force a party to complete thcir performancc of the contract 0 c. where the plaintiff is undeserving of damages C) d. where the plaintiff does not have "clean hands" Question 35: {3 Points) Question 36: {3 Points} Question 37: {3 Polnts]: Question 33: {3 Points) Aiood delivery service promises customers to be compensated tor delayed delivery if the package cannot be delivered in under an hour. Delivery time for food packages is known to follow a normal distribution with a mean of 56.5 minutes and a standard deviation cl 5 minutes. It delivery is completed as promised on time. what is the probability that the delivery took more than the expected time? Consider yourself and your competitor submitting bids on the city oi Montreal contracts. Past data indicates your competitor has submitted bids 75% of the time. The chance that you win a contract will be 25% if the competitor bids on the contract However. your chance to win a contract will increase to 70% if the competitor does not bid on the contract. What is the probability that you will win the contract? : To manage perishable Items at the storages, local grocers decide on the number of items to keep in stock on weekly basis. Suppose that the weekly demand for the item ls normally distributed with a mean of 80 units and a standard deviation of 9 units. If the grocer wants to control the probability of stock out of the item to no more than 4% In a week, now many units of the Item should be kept In the storage? : Patrons at a local restaurant are broadly classied as 90% regular and 10% as new on yearly basis. Drink preferences indicate wine was ordered by 30% of the regular customers. and by 50% of the new customers. If wine is ordered, what is the probability that the person ordering is a regular customer'? QUESTION 8 Among other things, Genevieve received an award from the court relating to her inability to sleep for 14 months following the collapse of the roof covering a newly built addition to her home. What is the nature of this portion of Genevieve's award? O a. non-pecuniary general damages 0 b. pecuniary expectation damages 0 c. punitive damages For tangible losses 0 d. punitive damages for intangible loss QUESTION 9 Both parties to the original contract must agree to an assignment for it to be enforceable. 0 True 0 False QUESTION 10 Everyone who suffers a breach of contract has a duty to mitigate. 0 True O False Question 1 (1 point) 3 Indicate (by number) how the component items listed below would appear in sequence on the US 1040 as described in the chapter notes. Adjusted Gross Income Adjustments to income (special deductions allowed to either itemizers or 9 non-itemizers) Total Income 12 Computed Income Tax Liability for the year Income Tax Liability after Nonrefundable Credits 15 Standard Deduction or Itemized Deductions Taxable Income Income Taxes Paid and Refundable Credits Taxes Due or Refund to be Received
