(A) Questions to be addressed: 1. Which of the three approaches to accounting for extended warranty and service contracts is most consistent with the actual substance of a sales transaction involving equipment and an extended warranty contract?
Smith corporation has numerous customers. a customer file is kept on disk storage. each customer file contains name, address, credit limit, and account balance. the auditor wishes to test this file to determine whether credit limits are being exceeded. the best procedure for the auditor to follow would be to
Suppose you are the controller of a company that sells inventory. Suppose, too, that the economy currently enters a period of high inflation. Although profits are higher this year than last year, you realize that the cost to replace inventory is also higher. You are aware that many companies are changing to the Last-In First-Out (LIFO) inventory method to save on taxes in the current year; however, you are concerned that when prices eventually decline, the LIFO method will result in higher taxes. Because declining prices are usually equated with economic recession, it is likely that the higher taxes will be paid when revenues are declining. What factors should you consider before making a change to LIFO? Based on the above considerations, what would you recommend? This is the questions and this is my response. I just want to make sure I am on the right page and if there is anything else I need to provide.
The perpetual inventory continuously will be able to describe and track the difference of the inventory of the account. The periodic system will be able to tell and determine the inventory that is currently only on hand and will only check occasionally. It will only check and track the inventory temporary and they will be able to adjust when a physical inventory is taken. Most companies that use period system usually only take physical inventory once or twice a year.
When FIFO is being used, the inventory and cost of the goods will be sold at the end of the period, even if either system is being used because the cost will always be first in and first out.
When using the LIFO method, the amounts will differ with the perpetual from the periodic inventory due to the perpetual system withdrawing immediately from the purchases while the periodic system matches the totals from the purchase to the withdrawals.
The written assessment task is related to Mr Peter Jones, your Inquiry Based Learning (IBL) case study patient in
week three tutorial. The first part of this assessment task should include brief evidence-based justification of the
three problems that have been used in the care plan. The second part is the care plan that must include a patient
problem statement, goal, interventions, rationale, and evaluation.
Further details:
As a nurse caring for Mr Jones on the third post-operative day, using clinical reasoning skills, what would you
identify as the top three priority problems for Mr Jones after a laparotomy and a newly created colostomy? You
also need to consider the fact that Mr and Mrs Jones also need to cope with a cancer diagnosis; therefore,
psychosocial implications of this new diagnosis should also be taken into consideration.
For the three high priority problems chosen from Mr Jones’s case scenario, you will need to produce a care plan
with a problem statement, goal, interventions, rationale, and evaluation. The tutorial discussion in week 3 will
enable you to do a detailed case analysis on Mr Jones that may help identify some of the priority areas in the postoperative
phase of his care. In addition, the week 1 lecture will help you understand the elements of care plan
writing.
Please note that the care plan submitted for this assignment needs to be an individual piece of work.
This is not an essay and therefore does not require an introduction and conclusion. Headings should be used in
the first section where you justify the three chosen problems. Answers should be written in a scholarly style. The
Nursing Care Plan must be referenced and related specifically to Mr Jones. You should include as many
interventions as you determine are necessary to fully manage the chosen problems. A simple problem may have
fewer nursing interventions than a complex problem. Each of the intervention provided should be accompanied
with a rationale and an evaluation. The nursing care plan can be set out in a table format. A proforma table has
been provided on VU Collaborate for you to follow, however its’ use is not compulsory.
All written assessments must align to scholarly standards.
Academic standards require:
· APA 6th edition for in-text citations and reference list;
· adherence to word count;
· a 12 size font in either Arial, Times New Roman or Calibri; and
The post Written assessment – scenario based nursing care plan appeared first on essay-paper.
Assignment status: Solved by our experts
Out of the four questions that shape a policy’s framework, which question addresses strategies to enhance the flow of services from providers to consumers?
MGT5052-IU-SP2018 case3 overview & supply chain – BETA
MGT5062-IU-SP2018 Logistics Policy
Case number 3 WORKING (BETA)
Overview of Logistics and Supply Chain
-=-=-
Individual work.
-=—
How submitted.
*** Post your answer to the Canvas assignment box. Do NOT send to the rest of the class.
*** Your answers are due according to the class schedule & the policy on self-selected late submissions.
It is usually possible to include ALL your answers in one file. That includes the memo.
*** Be sure to label each answer with the correct question number (or otherwise indicate which question is being answered) so that the CEO (or other reader such as the grader!) can easily find the answer.
*** For essay- or narrative-type questions use MS Word or compatible. There is usually no need to go to a universal format such as PDF. But you can use PDF if you desire with no penalty.
*** Be sure to show your work. For more complex calculations you can use Excel or compatible; or manual and scan the pages into your answer file. Just be sure that the CEO or other reader can find and interpret the answers.
You can use basically any file name that you want EXCEPT please include your last name (a) somewhere in the file name; and (b) at the top of the first page inside each file. That helps me identify whose work I am looking at grading, etc.
-=-=-=-=-=-
Copyright 2018 as adapted. Dr. Paul Battaglia and Florida Institute of Technology for use ONLY in MGT5062-IU-SP18 for the Virtual Site. Other use requires explicit written permission.
-=-=-=
Note: As noted earlier, the basic LUML scenario is used throughout the course for the cases. Additional information is provided for each case as needed.
There are THREE parts to this case.
Be sure to submit the answers for ALL THREE parts!
Case 3
Light Up My Light, Inc.
The basic scenario for LUML continues.
Case 3, Part 1 (Warehouse/shipping performance)
In working cases, we typically want much more information than is presented in the case. Of course, even in the “real world” we do not always have all the information (and time) that we would like. Basically, stick to the information in the case. If you need to make any assumptions, then be sure to make these clear in your answers.
It is now mid-2017.
During the last weekly review, the CEO (still Elise Ennis) expressed some concerns about the warehousing operations. She has no real feel for the efficiency of the warehouses. The operations “strike her” as being somewhat expensive. And her impression is that “the cost for each warehouse is sort of all over the place.”
The CEO asked if it would be possible to do a quick analysis of the warehousing function. [Of course, that was a rhetorical question. As you might expect, the answer from Tom Perkins the VP/head of logistics was “sure we can do an analysis for you”.]
The CEO said that she would send over some more specific questions after the meeting.
As a logistician for the company you are to play a key role in doing the analysis and reporting the results to the CEO.
In preparation for the analysis you asked the Comptroller for some financial information. The Comptroller provided the financial statements (income statement & balance sheet) for 2017, the most recent complete year. These are attached.
You also asked the VP who oversees warehousing operations for some data. The manager of warehouse operations sent over the most recent data that was available. The VP explained that LUML has been using the number of shipments as a key metric for warehousing. No distinction is made between an incoming shipment or an outgoing shipment. They believe that the work effort for either type of shipment is about the same. The shipment information is also attached.
You ask if there is any other information that you should know — any peculiarities of warehousing operations for LUML? The VP mentions a few things that he says are not so obvious.
#1. The Melbourne warehouse is co-located with the Melbourne manufacturing plant & the company’s headquarters.
#2. All manufacturing is done in-house in Melbourne.
#3. All the warehousing facilities are in leased buildings (including the one in Melbourne). So that aspect is standard for all 8 warehouses.
#4. The Melbourne facility is “company operated”. As the original warehouse, the warehouse staff are all employees of LUML.
#5. As the need arouse for other warehouses/shipping centers, the VP at that time decided to try what was then a relatively new concept. The work at these other sites was contracted out to local operators at each site. The contractors follow basic LUML policies, etc. These operations are what was to become known as 3PL (third party logistics). [Note: If you want to read more on 3PL in our book, then check in the index. However, for this case all that you basically need to realize is that these warehouses are each operated by a separate local operator under contract to LUML.]
#6. Shipments tend to be relatively homogeneous over all the sites. A typical shipment has one to three fixtures. Even the shipments from Melbourne fit this model because of the specialty nature of most of the fixtures.
#7. As might be expected, most shipments form Melbourne are outgoing to customers or to the other warehouses.
You thank the VP and head back to your office.
When you arrive, you find a note on your desk from Tom Perkins. This is forwarding the questions that the CEO had promised to send over.
[Your name]
Here are the questions from the CEO.
Please prepare a written memo to reply. Mrs. Ennis is a “data freak” and so likes to look at the backup numbers and analysis. Be sure to include the basic work that was done. Simple calculations might be in the narrative; more complex might need to be in an attachment.
Thanks,
Tom
Tom Perkins
VP for Logistics
Tom Perkins
Logistics
Tom,
Ref the weekly briefing. Here are the things that jumped into my mind as the topic was being discussed and when I thought about it later in the day. Of course, we are very interested in efficiency and effectiveness. I think that I also mentioned that it seems to me that we have a pretty wide range of warehousing costs over our 8 warehouses.
I’d like the memo per our schedule. Thanks.
Elise
#1. (100 pts) Comparing performance during the first five months of 2017 with 2016, which warehouse shows the best improvement in performance? What criteria did you use? Briefly explain why you used that criteria.
#2. (100 pts) Comparing performance during the first five months of 2017 with 2016, which warehouse shows the poorest change in performance? What criteria did you use? Briefly explain why you used that criteria.
#3. (100 pts) Comparing all eight warehouses, which warehouse is doing the “best job”? What criteria did you use? Briefly explain why you used that criteria.
#4. (50 pts) One possibility might be to terminate one of the current contracts and to engage a new contractor. Some have commented that this might offer the possibility for better performance and/or reduced cost at that location. Also, there may be a “spillover effect” to help “motivate” the other contractors to reduce costs.
If one contractor is to be changed, which one do you recommend? Briefly explain why.
#5. (100 pts) The year 2017 is close to being half over. How much is LUML likely to spend for warehousing for the rest of the year? How much for the full year? Is this better or worse than budgeted? I’d like to see this information for each warehouse; and, the total for all our warehousing operations). Briefly explain your work and answers. [Hint: did you make any assumptions that the CEO should know about?]
#6. (100 pts) Using the 2016 financial statement, what would our Strategic Profit Model (SPM) look like? Briefly interpret the results. Briefly interpret two of the key items that most relate to logistics.
#7. (100 pts) I’d like to reduce shipping costs. Holding all other information constant, what would be the effect on ROA if our warehousing/shipping costs declined 10 percent? Explain. [Hint: It should be obvious that the CEO is not looking for a simple answer — ROA increases/does not change/decreases. Best to compute and explain the actual change?]
#8. (50 pts) I do not expect the costs to be identical for all warehouses. But is there too great a range in costs per unit between the warehouses? Explain.
#9. (100 pts) What is your overall analysis and recommendation (or recommendations) to help us to achieve our objectives? Briefly explain.
#10. (50 pts) I have heard a bit about logistics and a logistics chain. How can warehouse operations be an activity in the logistics channel? Please provide a short explanation.
#11. (50 pts) The Comptroller told me that there is probably a bit of money that could be put into our information systems. How can IS/IT be applied in warehousing operations at LUML? [Hint: recall that we looked at many types of IS/IT. You might include whether each type likely has the potential to help meet the CEO’s goal to reduce warehousing expenses and reduce the range.]
-=-=-=
REMEMBER THAT THERE ARE OTHER GRADED ELEMENTS THAT ARE NOT SEPARATELY LISTED (e.g., on time; format and completeness; purpose).
-=-=-=-
Your mission? Prepare a memo to the CEO with the answers to her questions. Remember that you also need to send your supporting analysis. The material should be organized as you would send to a senior official. And you should also be sure to cite any material used that is not your own.
The reason that we do this type of analysis is to help manage better, to solve problems, and the like. Interpreting the information in relation to the business situation is important.
****
Keep in mind
#1 the answer to each question needs to be easily identifiable. The CEO is almost certainly not going to remember the details of each question that she asked. There is at least a week between the question being asked and reply expected. And she is unlikely to “go looking” for the answer somewhere in a document. [On the other side of the coin, for your purposes, you want to make sure that you answered each of the questions.]
#2 in most cases the CEO has asked you to explain your answers. So, each answer needs to have the answer plus the supporting rationale. However, that does not mean that each answer/explanation needs to be pages long! Some of the backup work might be a bit lengthy, but most of it is very brief. The answer itself and the rationale will usually only be a couple of sentences.
-=–=
Light Up My Light, Inc.
Income Statement 2016
Sales
$4,003,450
Cost of goods sold
$937,000
Gross margin
$3,066,450
Transportation cost
$657,322
Warehousing cost
$735,982
Inventory carrying cost
$567,987
Other operating cost
$345,876
Total operating costs
$2,307,167
Earnings before interest and taxes
$759,283
Interest
$110,000
Taxes
$69,000
Net income
$580,283
Light Up My Light, Inc.
Balance Sheet as of December 31, 2016
Assets
Cash
$706,034
Accounts receivable
355,450
Inventory
1,590,435
Total current assets
$2,651,919
Net fixed assets
803,056
Total assets
$3,454,975
Liabilities
Current liabilities
$1,678,589
Long term debt
398,060
Total liabilities
$2,076,649
Shareholders’ equity
1,378,326
Total liabilities and equity
$3,454,975
-=-=-
Here is the information that you asked for. We have been using the number of shipments as a basic metric. That seems to have served us well over the years. At first blush, given the CEO’s questions and areas of interest, you may need to revise the metric being used.
Light Up My Light, Inc.
Warehouse operations performance data (special run)
2016
2017
Units shipped
Warehouse expense
Units shipped
Warehouse expense
Location
Actual
Jan-Dec
Actual
Jan-May
Actual
Jan-Dec
Actual
Jan-May
Projected
Jan-Dec
Actual
Jan-May
Budgeted
Jan-Dec
Actual
Jan-May
Akron
12,437
4,080
$156,803
$35,890
15,000
4,035
$178,000
$40,228
Buffalo
6,920
3,061
$63,417
$27,915
7,200
3,119
$73,000
$29,416
Melbourne
32,104
14,621
$246,315
$131,618
38,000
15,230
$305,000
$141,222
Detroit z
3,021
1,005z
$28,019
$8,600z
3,100
1,421
$31,000
$14,900
Cleveland
2,016
980
$16,411
$8,883
2,000
804
$17,000
$9,605
Los Sanna
12,491
11,431
$151,975
$109,690
17,000
9,444
$176,000
$93,280
Portland
8,333
4,028
$73,015
$36,021
9,000
4,600
$85,000
$42,616
St. Louis
5,921
2,331
$51,819
$23,232
8,000
2,116
$56,000
$19,191
Note z: In March 2016, the warehouse was closed for two weeks due to a strike.
Case 3, Part 2
(100 points) Given the analysis and results in part 1, how might the issues raised tie in with the various organizational and managerial issues in logistics?
You should be able to write a great deal about this. But I am targeting for very nice coverage in about 2 single spaced pages. Sometimes tables or figures can help, but they do need some basic explanation.
PS. Remember that we are targeting to use 12 pitch type. Not 10 or 8 (or, gulp, even smaller). Going the other way, not 16, 18, 20, 24, etc.!
could you estimate the demand elasticity of milk sales data from a grocery store chain? If so, do you need assumptions on demand curve?
Develop a 1,050-word report to the members of the strategic planning committee explaining the following information:
How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources.
Using the circular flow model, explain the flow of money and goods in an economy.
How the economy coordinates society’s independent economic actors.
A country’s gross domestic product (GDP) and how it is defined and calculated.
How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living.
Format the assignment consistent with APA guidelines.
Empire Essays is a leading custom essay writing service based in the United States. Since 2008, we have been providing exclusive writing services with our exceptional team of professional academic writers.
Tel: +1 (231) 242-8514
E-mail: Support@empireessays.com
Hi there! Click one of our representatives below and we will get back to you as soon as possible.