a. In Problem 42, Mega-Mart is considering purchasing a parcel of land adjacent to the current site on which it plans to build its store. The cost of the parcel is $190,000, and it would enable Mega-Mart to increase the size of its store to 160,000 square feet. Discuss whether Mega-Mart should purchase the land and increase the planned size of the store. b. Suppose that the profit per square foot will decline in all departments by 20% if the store size increases to 160,000 square feet. (If the stock does not turn over as fast, increasing inventory costs will reduce profit.) How might this affect Mega-Mart's decision in (a)?
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.McGwire Aerospace expects to have net cash flow of $12 million. The company forecasts that its operating costs excluding depreciation and amortization will equal 75 percent of the company’s sales. Depreciation and amortization expenses are expected to be $5 million and the company has no interest expense. All of McGwire’s sales will be collected in cash, costs other than depreciation and amortization will be paid in cash during the year, and the company’s tax rate is 40 percent. What is the company’s expected sales?PROBLEM The Seminole Company wishes to apply the Miller-Orr model to manage its cash investment. Seminole’s management has determined that the cost of either investing in or selling marketable securities is $200. By looking at Seminole Company’s past cash needs, they have determined that the variance of daily cash flows is $10,000. Seminole Company’s opportunity cost of cash, per day, is estimated to be 0.05%. Seminole management has figured, based on their experience dealing with the cash flows of the company, that there should be a cushion— a safety stock—of cash of $20,000. 1. How much is the variance of daily cash flows? (Use a number, no decimal value, no commas, no currency, no space) * 2. How much is the opportunity cost of cash, per day? (Use a number, must be in decimal form. eg. 6.3%/100, encode 0.063 , no commas, no currency, no space) * 3. How much is the cost per transaction? (Use a number, no decimal value, no commas, no currency, no space) * PLEASE ANSWER ALL QUESTIONS.…
- A relatively small privately owned coal-mining company has the sales results summarized below. Determine the annual percentage depletion for the coal mine. Assume the company's taxable income is $125,000 each year. Sales, Tons 34,300 Year Spot Sales Price, $/Ton 1 9.82 2. 50,100 11.5 71,900 11.23 50% of the Gross Depletion Allowed Year taxable Income, $ amount Depletion amount 1. 3.A firm that plans to expand its product line must decide whether to build a small or a large facilityto produce the new products. If it builds a small facility and demand is low, the net present valueafter deducting for building costs will be $400,000. If demand is high, the firm can either maintainthe small facility or expand it. Expansion would have a net present value of $450,000, and maintaining the small facility would have a net present value of $50,000.If a large facility is built and demand is high, the estimated net present value is $800,000. If demandturns out to be low, the net present value will be – $10,000.The probability that demand will be high is estimated to be .60, and the probability of low demandis estimated to be .40. 1- Compute the EVPI 2- Determine the range over which each alternative would be best in terms of the value of P ( low demand )PROBLEM The management of the Book Warehouse Company wishes to apply the Miller-Orr model to manage its cash investment. They have determined that the cost of either investing in or selling marketable securities is $100. By looking at Book Warehouse’s past cash needs, they have determined that the variance of daily cash flows is $20,000. Book Warehouse’s opportunity cost of cash, per day, is estimated to be 0.03%. Based on experience, management has determined that the cash balance should never fall below $10,000. 1. How much is the cost per transaction?(Use a number, no decimal value, no commas, no currency, no space) * 2. How much is the return point based on the Miller-Orr model of cash management? (Use a number, no decimal value, no commas, no currency, no space) * 3. How much is the upper limit based on the Miller-Orr model of cash management?(Use a number, no decimal value, no commas, no currency, no space) * PLEASE ANSWER ALL QUESTIONS. THANKS!
- Alice, Wonder, and Land are freshmen under the marketing management program. Every month, they purchase a piece of Panda ballpen. The price of the ball pen is Php9.50.According to a recent survey, 45% of the marketing freshmen have the samepurchasing behavior as Alice, Wonder, and Land. Another 30% also purchase Panda ballpens regularly at the same price; however, they purchase once every 2 weeks. There are approximately 280 freshmen under the marketing management program. Assuming that the behavior is consistent throughout their 4-year stay in the program, what is the approximate projected revenue that can be generated from the marketing freshmen for the entire duration of their stay in the program?As part of their application for a loan to buy Lakeside Farm, a property they hope to develop as a bed-and-breakfast operation, the prospective owners have projected: Monthly fixed cost (loan payment, taxes, insurance, maintenance) $6000 Variable cost per occupied room per night $ 20 Revenue per occupied room per night $ 75 Write the expression for total cost per month. Assume 30 days per month. Write the expression for total revenue per month. How many rooms they need to sell per night in order to break even? Suppose 5 rooms can be sold per night, how much they should charge per night in order to breakeven?Mary is a sales person for Challenge Furniture. She receives an incremental commission based on the table below. If she sells $26,000 and has already received a draw of $766.15, how much commission is still owed to Mary? level 1 1-11,700 3.7% sales volume 2 11,701-21,200 4.3% commission rate 3 over 21,200 4.7%
- Kpogas produces chairs and tables. Using economic forecast for the next month, Kpogas’ marketing manager has judged that during that period, it will be possible to sell as many chairs or tables as the company can produce. Management must now recommend a production target for next month. That is, how many chairs and tables should be produced if Kpogas’ management wishes to maximize next month’s profit contribution? Making this decision requires a consideration of the following key factors: ● Kpogas’s unit contribution margin is GH¢ 5,000 on each chair that is sold and GH¢ 4,000 on each table that is sold. ● Each product is put through Kpogas’s machining operations in both department A and department B. For next month’s production, the two departments have 150 and 160 hours available time, respectively. Each chair produced uses 10 hours of machining in department A and 20 hours of machining in department B, whereas each table produced uses 15 hours of machining in department A and 10…The CEO of Lucky Petroleum Co. has been considering to open a new gasoline statioin. He must decide how large the station should be. The annual returns (IDR billions) will depend on both the size of the station and market factor. After a careful analysis he developed the following table: Size of Station Good Market Fair Market Poor Market Small 50 20 -10 Medium 70 30 -20 Large 100 50 -30 Probability 0.5 0.3 0.2 Compute the expected value of each alternative size of station, and select the best decision. Construct the opportunity loss table and determine the best decision. Compute the expected value of perfect information.The managers of Whitcomb Foods decide they will hire a management accountant to help them analyze the decision to expand their product line. They solicit bids from various accountants in the city and receive three proposals. In describing their qualifications for the job, the three state the following: Accountant A: “I have recently advised the symphony on how to raise money and therefore I know the local area well.” Accountant B: “I have advised several small firms on expansion plans.” Accountant C: “I have advised Patrician Juices [Whitcomb’s main competitor] and can share its experiences and insights with you.” All of the proposals have the same price. Questions: 1. As the accounting manager of Whitcomb Foods, prepare a memo recommending which accountant you would prefer to retain. Be sure to include your reasons. 2. Which, if any, of the accountants making a proposal are violating the IMA’s code of ethics? What is (are) the violation(s)?