Question & Answer

Name the three most common machining processes.

Briefly explain the meaning of decision-usefulness in thecontext of financial reporting.

A small company uses a band saw to cut through 2-inch metal bar stock. A material supplier is pushing a new material that is supposed to be more machinable while providing similar mechanical properties. The company does not have access to sophisticated measuring devices, but they do have a stopwatch. They have acquired a sample of the new material and cut both the present material and the new material with the same band saw settings. In the process, they measured how long it took to cut through each material. To cut through the present material, it took an average of 2 minutes, 20 seconds. To cut through the new material, it took an average of 2 minutes, 6 seconds. (a) Develop a machinability rating system based on time to cut through the 2.0-inch bar stock, using the present material as the base material. (b) Using your rating system, determine the machinability rating for the new material.

A steel collar is to be heated from room temperature (70°F) to 700°F. Its inside diameter = 1.000 in, and its outside diameter = 1.625 in. If the coefficient of thermal expansion of the steel is = 6.7 x 10-6 in/in per °F, determine the increase in the inside diameter of the collar.

A facing operation is performed on an engine lathe. The diameter of the cylindrical part is 6 in and the length is 15 in. The spindle rotates at a speed of 180 rev/min. Depth of cut = 0.110 in, and feed = 0.008 in/rev. Assume the cutting tool moves from the outer diameter of the workpiece to exactly the center at a constant velocity. Determine (a) the velocity of the tool as it moves from the outer diameter towards the center and (b) the cutting time.

The current date in the production calendar is day 14. There are three orders (A, B, and C) to be processed at a particular work center. The orders arrived in the sequence A-B-C at the work center. For order A, the remaining process time = 8 days, and the due date is day 24. For order B, the remaining process time = 14 days, and the due date is day 33. For order C, the remaining process time = 6 days, and the due date is day 26. Determine the sequence of the orders that would be scheduled using (a) first-come-first-serve, (b) earliest due date, (c) shortest processing time, (d) least slack time, and (e) critical ratio.

In the previous problem, suppose an industrial robot cell were installed to replace the welder. The cell consists of the robot (using GMAW instead of SMAW or FCAW), two welding fixtures, and the fitter who loads and unloads the parts. With two fixtures, fitter and robot work simultaneously, the robot welding at one fixture while the fitter unloads and loads at the other. At the end of each work cycle, they switch places. The electrode wire spool must be changed every five workparts, which task requires 5.0 minutes and is accomplished by the fitter. Determine (a) arc time and (b) production rate for this work cell.

Describe the kinds of insurance premiums an employer can pay on behalf of an employee without triggering includible compensation to the employee.

Name the commonly used coating materials deposited by PVD onto cutting tools?

A 125.0-mm-diameter shaft rotates inside a stationary bushing whose inside diameter = 125.6 mm and length = 50.0 mm. In the clearance between the shaft and the bushing is a lubricating oil whose viscosity = 0.14 Pa-s. The shaft rotates at a velocity of 400 rev/min; this speed and the action of the oil are sufficient to keep the shaft centered inside the bushing. Determine the magnitude of the torque due to viscosity that acts to resist the rotation of the shaft.

A pin is to be inserted into a collar using an expansion fit. Properties of the pin and collar metal are: coefficient of thermal expansion is 12.3 x 10-6 m/m/°C, yield strength is 400 MPa, and modulus of elasticity is 209 GPa. At room temperature (20°C), the outer and inner diameters of the collar = 95.00 mm and 60.00 mm, respectively, and the pin has a diameter = 60.03 mm. The pin is to be reduced in size for assembly into the collar by cooling to a sufficiently low temperature that there is a clearance of 0.06 mm. (a) What is the temperature to which the pin must be cooled for assembly? (b) What is the radial pressure at room temperature after assembly? (c) What is the safety factor in the resulting assembly?

Yanmei Construction Company began operations January 1, 2014. During the year, Yanmei Construction entered into a contract with Lundquist Corp. to construct a manufacturing facility. At that time, Yanmei estimated that it would take 5 years to complete the facility at a total cost of $4,500,000. The total contract price for construction of the facility is $6,000,000. During the year, Yanmei incurred $1,185,800 in construction costs related to the construction project. The estimated cost to complete the contract is $4,204,200. Lundquist Corp. was billed and paid 25% of the contract price. Instructions Prepare schedules to compute the amount of gross profit to be recognized for the year ended December 31, 2014, and the amount to be shown as “costs and recognized profit in excess of billings” or “billings in excess of costs and recognized profit” at December 31, 2014, under each of the following methods. (a) Completed-contract method. (b) Percentage-of-completion method. Show supporting computations in good form.

ELS Corporation reported gross receipts for 2021-2023 for Scenarios A, B, and C as follows:

What is the time value of money? Why should accountants have an understanding of compound interest, annuities, and present value concepts?

Solve Problem 41.9 except that the following is known in addition to the information given: scheduled receipts of M5 are 250 units in period (week) 3 and 50 units in period (week) 4.

The FASB requires a reconciliation between the effective tax rate and the federal government’s statutory rate. Of what benefit is such a disclosure requirement?

Assume that inflation is expected to decline in the near future. How could this affect future bond prices? Would you recommend that financial institutions increase or decrease their concentration in long-term bonds based on this expectation? Explain. (LO2)

How is materiality (or immateriality) related to the proper presentation of financial statements? What factors and mea-sures should be considered in assessing the materiality of a misstatement in the presentation of a financial statement?

What are the three main goals in total quality management (TQM)?

Two accountants for the firm of Elwes and Wright are arguing about the merits of presenting an income statement in a multiple-step versus a single-step format. The discussion involves the following 2014 information related to P. Bride Company ($000 omitted). Administrative expense Offi cers’ salaries $ 4,900 Depreciation of offi ce furniture and equipment 3,960 Cost of goods sold 60,570 Rent revenue 17,230 Selling expense Delivery expense 2,690 Sales commissions 7,980 Depreciation of sales equipment 6,480 Sales revenue 96,500 Income tax 9,070 Interest expense 1,860 Instructions (a) Prepare an income statement for the year 2014 using the multiple-step form. Common shares outstanding for 2014 total 40,550 (000 omitted). (b) Prepare an income statement for the year 2014 using the single-step form. (c) Which one do you prefer? Discuss.

What are some of the general considerations that product designers must keep in mind when designing components out of plastics?

Ten samples of size n = 8 have been collected from a process in statistical control, and the dimension of interest has been measured for each part. The calculated values of x for each sample are (mm) 9.22, 9.15, 9.20, 9.28, 9.19, 9.12, 9.20, 9.24, 9.17, and 9.23. The values of R are (mm) 0.24, 0.17, 0.30, 0.26, 0.26, 0.19, 0.21, 0.32, 0.21, and 0.23, respectively. (a) Determine the values of the center, LCL, and UCL for the x and R charts. (b) Construct the control charts and plot the sample data on the charts.

Broussard Company reported net income of $3.5 million in 2014. Depreciation for the year was $520,000; accounts receivable increased $500,000; and accounts payable increased $300,000. Compute net cash flow from operating activities using the indirect method.

What is the difference between a bilateral tolerance and a unilateral tolerance?

Explain what it means to say that a married couple filing a joint tax return has joint and several liability for the taxes associated with the return?