Question & Answer

Using the information in E20-13 about Erickson Company’s defined benefit pension plan, prepare a 2014 pension worksheet with supplementary schedules of computations. Prepare the journal entries at December 31, 2014, to record pension expense and related pension transactions. Also, indicate the pension amounts reported in the balance sheet.

In an electrochemical machining operation, the frontal working area of the electrode is 2.5 in2. The applied current = 1500 amps, and the voltage = 12 volts. The material being cut is pure aluminum, whose specific removal rate is given in Table 26.1. (a) If the ECM process is 90 percent efficient, determine the rate of metal removal in in3/hr. (b) If the resistivity of the electrolyte = 6.2 ohm-in, determine the working gap

By referring to each of the above determinants of supply, identify what would cause (a) the supply of potatoes to fall and (b) the supply of leather to rise.

Should a liability be recorded for risk of loss due to lack of insurance coverage? Discuss.

What are the three phases in shop floor control?

List the key statutory requirements that must be met before a corporate formation is tax-deferred under §351.

Montel argues that a flat income tax rate system is vertically equitable.  Oprah argues that a progressive tax rate structure is vertically equitable.  How do their arguments differ?  Who is correct?

: Explain the fundamental attribution error, and give an example of it from your own experience.

Why are parts sometimes fixed to the conveyor in a continuous transfer system in manual assembly?

How can small investors participate in investments in negotiable certificates of deposits (NCDs)? (LO1, LO2)

What is Rule 203 of the Code of Professional Conduct?

This comment appeared in the annual report of MacCloud Inc.: “The Company could pay cash or property dividends on the Class A common stock without paying cash or property dividends on the Class B common stock. But if the Company pays any cash or property dividends on the Class B common stock, it would be required to pay at least the same dividend on the Class A common stock.” How is a property dividend accounted for in the financial records?

An L-shaped structural section is direct extruded from an aluminum billet in which Lo = 500 mm and Do = 100 mm. Dimensions of the cross section are given in Figure P19.29. Die angle = 90°. Determine (a) extrusion ratio, (b) shape factor, and (c) length of the extruded section if the butt remaining in the container at the end of the ram stroke is 25 mm.

Cominsky Company purchased a machine on July 1, 2015, for $28,000. Cominsky paid $200 in title fees and county property tax of $125 on the machine. In addition, Cominsky paid $500 shipping charges for delivery, and $475 was paid to a local contractor to build and wire a platform for the machine on the plant floor. The machine has an estimated useful life of 6 years with a salvage value of $3,000. Determine the depreciation base of Cominsky’s new machine. Cominsky uses straight-line depreciation.

There are 27 correct answers in the following multiple choice questions (some questions have multiple answers that are correct). To attain a perfect score on the quiz, all correct answers must be given. Each correct answer is worth 1 point. Each omitted answer or wrong answer reduces the score by 1 point, and each additional answer beyond the correct number of answers reduces the score by 1 point. Percentage score on the quiz is based on the total number of correct answers 19.1 The starting workpiece in steel hot rolling of plate and sheet stock is which of the following (one best answer): (a) bar stock, (b) billet, (c) bloom, (d) slab, or (e) wire stock? 19.2 The maximum possible draft in a rolling operation depends on which of the following parameters (two correct answers): (a) coefficient of friction between roll and work, (b) roll diameter, (c) roll velocity, (d) stock thickness, (e) strain, and (f) strength coefficient of the work metal? 19.3 Which of the following stress or strength parameters is used in the computation of rolling force (one best answer): (a) average flow stress, (b) compression strength, (c) final flow stress, (d) tensile strength, or (e) yield strength? 19.4 Which of the following rolling mill types are associated with relatively small diameter rolls in contact with the work (two correct answers): (a) cluster mill, (b) continuous rolling mill, (c) four-high mill, (d) reversing mill, and (e) three-high configuration? 19.5 Production of pipes and tubes is associated with which of the following bulk deformation processes (three correct answers): (a) extrusion, (b) hobbing, (c) ring rolling, (d) roll forging, (e) roll piercing, (f) tube sinking, and (g) upsetting? 19.6 Which of the following stress or strength parameters is used in the computation of the maximum force in a forging operation (one best answer): (a) average flow stress, (b) compression strength, (c) final flow stress, (d) tensile strength, or (e) yield strength? 19.7 Which of the following operations are closely related to open-die forging (three best answers): (a) cogging, (b) flashless forging, (c) fullering, (d) impression-die forging, (e) Mannesmann process, (f) precision forging, (g) soaking, and (h) upsetting? 19.8 Flash in impression die forging serves no useful purpose and is undesirable because it must be trimmed from the part after forming: (a) true or (b) false? 19.9 Which of the following are classified as forging operations (four correct answers): (a) coining, (b) fullering, (c) impact extrusion, (d) roll piercing, (e) swaging, (f) thread rolling, (g) trimming, and (h) upsetting? 19.10 Which of the following are alternative names for indirect extrusion (two correct answers): (a) backward extrusion, (b) direct extrusion, (c) forward extrusion, (d) impact extrusion, and (e) reverse extrusion? 19.11 The production of tubing is possible in indirect extrusion but not in direct extrusion: (a) true or (b) false? 19.12 Which of the following stress or strength parameters is used in the computation of the force in an extrusion operation (one best answer): (a) average flow stress, (b) compression strength, (c) final flow stress, (d) tensile strength, or (e) yield strength? 19.13 In which of the following extrusion operations is friction a factor in determining the extrusion force (one best answer): (a) direct extrusion or (b) indirect extrusion? 19.14 Theoretically, the maximum reduction possible in a wire drawing operation, under the assumptions of a perfectly plastic metal, no friction, and no redundant work, is which of the following (one answer): (a) zero, (b) 0.63, (c) 1.0, or (d) 2.72? 19.15 Which of the following bulk deformation processes are involved in the production of nails for lumber construction (three best answers): (a) bar and wire drawing, (b) extrusion, (c) flashless forging, (d) impression die forging, (e) rolling, and (f) upsetting? 19.16 Johnson's formula is associated with which one of the four bulk deformation processes: (a) bar and wire drawing, (b) extrusion, (c) forging, and (d) rolling?

: Describe transformational leadership and when it should be used.

Explain how the Fed’s “quantitative easing” strategies differed from its traditional strategy of buying short-term Treasury securities. (LO3)

Rayburn Corporation has a building that it bought during year 0 for $850,000. It sold the building in year 5. During the time it held the building, Rayburn depreciated it by $100,000. What are the amount and character of the gain or loss Rayburn will recognize on the sale in each of the following alternative situations?    a. Rayburn receives $840,000.  b. Rayburn receives $900,000. c. Rayburn receives $700,000.

Assume that Fielder Enterprises uses the following headings on its balance sheet. (a) Current assets. (f) Current liabilities. (b) Investments. (g) Long-term liabilities. (c) Property, plant, and equipment. (h) Capital stock. (d) Intangible assets. (i) Paid-in capital in excess of par. (e) Other assets. (j) Retained earnings. Instructions Indicate by letter how each of the following usually should be classified. If an item should appear in a note to the financial statements, use the letter “N” to indicate this fact. If an item need not be reported at all on the balance sheet, use the letter “X.” 1. Prepaid insurance. 2. Stock owned in affiliated companies. 3. Unearned service revenue. 4. Advances to suppliers. 5. Unearned rent revenue. 6. Preferred stock. 7. Additional paid-in capital on preferred stock. 8. Copyrights. 9. Petty cash fund. 10. Sales taxes payable. 11. Accrued interest on notes receivable. 12. Twenty-year issue of bonds payable that will mature within the next year. (No sinking fund exists, and refunding is not planned.) 13. Machinery retired from use and held for sale. 14. Fully depreciated machine still in use. 15. Accrued interest on bonds payable. 16. Salaries that company budget shows will be paid to employees within the next year. 17. Discount on bonds payable. (Assume related to bonds payable in item 12.) 18. Accumulated depreciation—buildings. 19. Noncontrolling interest.

Describe cost depletion and percentage depletion. Why is the percentage depletion method permitted?

Solve Problem 22.17 except that the workpiece is 5.0 in wide and the cutter is offset to one side so that the swath cut by the cutter = 1.0 in wide. This is called partial face milling, Figure 22.20(b).

Omar Morena has recently completed his first year of studying accounting. His instructor for next semester has indicated that the primary focus will be the area of financial accounting. Instructions (a) Differentiate between financial accounting and managerial accounting. (b) One part of financial accounting involves the preparation of financial statements. What are the financial statements most frequently provided? (c) What is the difference between financial statements and financial reporting?

Two flat plates, separated by a space of 4 mm, are moving relative to each other at a velocity of 5 m/sec. The space between them is occupied by a fluid of unknown viscosity. The motion of the plates is resisted by a shear stress of 10 Pa due to the viscosity of the fluid. Assuming that the velocity gradient of the fluid is constant, determine the coefficient of viscosity of the fluid.

A silicon wafer with a diameter of 200 mm is processed over a circular area whose diameter = 190 mm. The chips to be fabricated are square with 10 mm on a side. The density of point defects in the surface area is 0.0047 defects/cm2. Determine an estimate of the number of good chips using the Bose-Einstein yield computation.

In a turning operation on ductile steel, it is desired to obtain an actual surface roughness of 63 µ-in with a 2/64 in nose radius tool. The ideal roughness is given by Eq. (24.1) and an adjustment will have to be made using Figure 24.2 to convert the 63 µ-in actual roughness to an ideal roughness, taking into account the material and cutting speed. Disposable inserts are used at a cost of $1.75 per cutting edge (each insert costs $7.00 and there are four edges per insert). Average time to change each insert = 1.0 min. The workpiece length = 30.0 in and its diameter = 3.5 in. The machine and operator’s rate = $39.00 per hour including applicable overheads. The Taylor tool life equation for this tool and work combination is given by: vT0.23 f 0.55 = 40.75, where T = tool life, min; v = cutting speed, ft/min; and f = feed, in/rev. Solve for (a) the feed in in/rev that will achieve the desired actual finish, (b) cutting speed for minimum cost per piece at the feed determined in (a). Hint: To solve (a) and (b) requires an iterative computational procedure. Use of a spreadsheet calculator is recommended for this iterative procedure