Question & Answer

A single-point HSS tool with a 3/64 in nose radius is used in a shaping operation on a ductile steel workpart. The cutting speed is 120 ft/min. The feed is 0.014 in/pass and depth of cut is 0.135 in. Determine the surface roughness for this operation.

Assume that Best Buy made a December 31 adjusting entry to debit Salaries and Wages Expense and credit Salaries and Wages Payable for $4,200 for one of its departments. On January 2, Best Buy paid the weekly payroll of $7,000. Prepare Best Buy’s (a) January 1 reversing entry; (b) January 2 entry (assuming the reversing entry was prepared); and (c) January 2 entry (assuming the reversing entry was not prepared).

In each of the following independent cases, indicate the amount (1) deductible for AGI, (2) deductible from AGI, and (3) neither deductible for nor deductible from AGI before considering income limitations or the standard deduction.

Explain why the rise of e-commerce might increase the number of firms engaging in person-specific pricing.

Determine the shape factor for each of the extrusion die orifice shapes in Figure P19.32.

1. To what extent could property rights (either public or private) be successfully extended and invoked to curb the problem of industrial pollution (a) of the atmosphere; (b) of rivers; (c) by the dumping of toxic waste; (d) by the erection of ugly buildings; (e) by the creation of high levels of noise? 2. What protection do private property rights in the real world give to sufferers of noise (a) from neighbours; (b) from traffic; (c) from mobile phones on public transport?

Identify some of the important advantages of shape-casting processes

Identify the characteristics of universal life insurance. (LO3)

The unit cost in a machining operation is the sum of four cost terms. The first three terms are: (1) part load/unload cost, (2) cost of time the tool is actually cutting the work, and (3) cost of the time to change the tool. What is the fourth term?

War tends to cause significant reactions in financial markets. Why might a war in the Middle East place upward pressure on U.S. interest rates? Why might some investors expect a war like this to place downward pressure on U.S. interest rates? (LO2)

P.1 If a bank paid its depositors 3 per cent interest and inflation was 5 per cent, what would be the real rate of interest? P.2 Has your real income gone up or down this last year?

One writer recently noted that 99.4 percent of all companiesprepare statements that are in accordance with GAAP. Why then is there such concern about fraudulentfinancial reporting?

In conventional sheet metalworking operations, (a) what is the name of the tooling and (b) what is the name of the machine tool used in the operations?

Assume that Mexico suddenly experiences high and unexpected inflation. How could this affect the value of the Mexican peso according to purchasing power parity (PPP) theory? (LO2)

A cemented carbide tool is used to turn a part with a length of 14.0 in and diameter = 4.0 in. The parameters in the Taylor equation are: n = 0.25 and C = 1000 (ft/min). The rate for the operator and machine tool = $45.00/hr, and the tooling cost per cutting edge = $2.50. It takes 2.5 min to load and unload the workpart and 1.50 min to change tools. The feed = 0.015 in/rev. Determine (a) cutting speed for maximum production rate, (b) tool life in min of cutting, and (c) cycle time and cost per unit of product.

Jackson is 18 years old and has a dog-sitting business. Calculate the 2024 standard deduction Jackson will claim under the following independent circumstances. a. Jackson reported $2,000 of earnings from his dog sitting and $300 in interest income from his savings account. Jackson’s parents claim him as a dependent. b. Jackson reported $500 of earnings from his dog sitting and $2,000 in interest income from his savings account. Jackson’s parents claim him as a dependent. c. Jackson reported $8,000 of earnings from his dog sitting and $3,000 in interest income. Jackson’s parents do not claim him as a dependent.

1.       : How do you think a system for self-management such as the five-step system described in this chapter could benefit you as a student? What parts of the system seem particularly useful to you? Explain.

Environmental decision making — Environment Aotearoa and ‘dirty dairying’ in New Zealand In October 2015, Statistics New Zealand published the first comprehensive and independent report on the state of the country’s environment. This provided information on five ‘domains’ — air, atmosphere and climate, fresh water, land, and marine. The report was the first in a three-yearly cycle that reports on one domain every six months and provides a combined, comprehensive picture once every three years.   At the time of its release the Minister for Statistics, Craig Foss, stated:   This is the first comprehensive report on New Zealand’s environment produced by Statistics New Zealand. It puts into practice the maxim that you manage what you measure. Robust, independent financial reporting has helped achieve significant improvements in New Zealand’s financial management and our ambition is to achieve the same for the environment.   Similarly, the Minister for the Environment, Nick Smith, explained:   New Zealand’s environment is so important to our quality of life, our successful exporting industries and our nation’s brand that we need robust, independent reporting. It enables us to know where we match up, what areas need more attention, and helps us figure out what we need to do about problem areas.   As the country’s population increases, its economy develops and lifestyles change, pressures on its natural resources grow. For example, there have been longstanding issues associated with dairy farming polluting rivers, referred to as ‘dirty dairying’, with at least 151 prosecutions over a four-year period from July 2008 to June 2012 involving 300 charges for unlawful discharges of dairy effluent.70 Regular and independent monitoring of the state of those resources is a first and vital step towards stopping, and hopefully reversing, further degradation.   (a) With the use of online data, search for evidence that the dairy industry in New Zealand is working to prevent ‘dirty dairying’. (b) Is it possible for you to know the conditions under which the products you purchase are produced? Why? (c) Is it possible for managers of a dairy cooperative, such as Fonterra, to know with certainty that their outsource partners comply with agreed-upon working conditions? Why? (LO1 and 2)

What impact might the balance sheets of economic agents have on the influence of interest rates in affecting aggregate expenditure?

What is a flexible manufacturing system?

Forda Lumber Company owns a 7,000-acre tract of timber purchased in 2000 at a cost of $1,300 per acre. At the time of purchase, the land was estimated to have a value of $300 per acre without the timber. Forda Lumber Company has not logged this tract since it was purchased. In 2014, Forda had the timber cruised. The cruise (appraiser) estimated that each acre contained 8,000 board feet of timber. In 2014, Forda built 10 miles of roads at a cost of $7,840 per mile. After the roads were completed, Forda logged and sold 3,500 trees containing 850,000 board feet. Instructions (a) Determine the cost of timber sold related to depletion for 2014. (b) If Forda depreciates the logging roads on the basis of timber cut, determine the depreciation expense for 2014. (c) If Forda plants five seedlings at a cost of $4 per seedling for each tree cut, how should Forda treat the reforestation?

Pleasant Co. manufactures specialty bike accessories. The company is known for product quality, and it has offered one of the best warranties in the industry on its higher-priced products—a lifetime guarantee,performing all the warranty work in its own shops. The warranty on these products is included in the sales price. Due to the recent introduction and growth in sales of some products targeted to the low-price market, Pleasant is considering partnering with another company to do the warranty work on this line of products, if customers purchase a service contract at the time of original product purchase. Pleasant has called you to advise the company on the accounting for this new warranty arrangement. Instructions If your school has a subscription to the FASB Codification, go to http://aaahq.org/asclogin.cfm to log in and prepare responses to the following. Provide Codification references for your responses. (a) Identify the accounting literature that addresses the accounting for the type of separately priced warranty that Pleasant is considering. (b) When are warranty contracts considered separately priced? (c) What are incremental direct acquisition costs and how should they be treated?

Explain the liquidity premium theory. (LO3)

Where can authoritative IFRS guidance be found related to the statement of financial position (balance sheet) and the statement of cash flows?

What is meant by a dilutive security?