The three options for soliciting business from potential suppliers are:_______.
a. request for information (RFI), request for quotation (RFQ) and request for proposal (RFP)
b. request for quotation (RFQ), request for proposal (RFP) and request or invitation for bid (RFB or IFB)
c. request for quotation (RFQ), request for confirmation (RFC) and request for proposal (RFP)
d. request for information (RFI), request for proposal (RFP), and request or invitation for bid (RFB or IFB)
e. request for quotation (RFQ), request for price (RFP), and request or invitation for bid (RFB or IFB)

Answer:

Option b. is correct

Explanation:

Potential Supplier refers to any person that submits a Tender with respect to response to the Invitation to Tender.

Purpose of RFI  is to collect written information about the capabilities of different suppliers.

RFQ is a kind of procurement solicitation in which the outside vendors are asked by a company to offer a quote for the completion of a specific project.

The three options for soliciting business from potential suppliers are request for quotation (RFQ), request for proposal (RFP) and request or invitation for bid (RFB or IFB).

Humana Hospital Corporation installed a new MRI machine at a cost of $780,000 this year in its medical professional clinic in Cedar Park. This state-of-the-art system is expected to be used for 5 years and then sold for $100,000. Humana uses a return requirement of 24% per year for all of its medical diagnostic equipment. As a bioengineering student currently serving a Co-op semester on the management staff of Humana Corporation in Louisville, Kentucky, you are asked to determine the minimum revenue required each year to realize the expected recovery and return.

a. What is your answer?
b. If the AOC is expected to be $80,000 per year, what is the total revenue required to provide for recovery of capital, the 25% return, and the annual expenses?
c. Write the spreadsheet functions to display your answers.

A company reports the following beginning Inventory and two purchases for the month of January. On January 26, the company sells 360 units. Ending Inventory at January 31 totals 130 units.
Units Unit Cost
Beginning inventory on January 1 320 $3.10
Purchase on January 9 70 3.30
Purchase on January 25 100 3.40
Required:
Assume the Perpetual Inventory system is used. Determine the costs assigned to ending Inventory when costs are assigned based on LIFO.

Which account is an example of a contra-expense account? A. purchases B. purchase returns C. sales D. sales returns

Assuming the same interest rate, amount borrowed, and amortization period, which compounding (payment) period - monthly or annually - would result in less interest being paid by the borrower? Why?

During the month of September, the Texas Go-Kart Company had the following business activities:
a- On September 1, paid rent on the track facility for six months at a total cost of $13,800.
b. On September 1, received $58,800 for season tickets for 12-month admission to the race track.
c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,500 each time, to be paid in the following month. The organization uses the track on September 30.
d. On September 1, hired a new manager at a monthly salary of $3,400, to be paid the first Monday following the end of the month.
Required: 1. Prepare the journal entry, if any, required to record each of the initial business activities on September
1. (If no entry is required for a transaction/event, select ''No Journal Entry Required'' in the first account field.) Journal Entry Worksheet Record the payment of rent on the track facility for six months at a total cost of $13,800. Transaction General Journal Debit Credit
2. Prepare the adjusting journal entries, if any, required on September 30. (if no entry is required for a transaction/event, select ''No Journal Entry Required'' In the first account field.) Journal Entry Worksheet Record the payment of rent on the track facility for six months at a total cost of $13,800.
Record the adjusting entry for the payment of rent on the track facility for six months at a total cost of $13,800.

A project manager is faced with the following activities and times associated with a building construction for a cancer research facility. Each activity can be crashed at most by 2 weeks. The cost associated with each week time reduction is given below. (note: The 1st crash and 2nd crash costs are associated with the first and second time that a specific activity is crashed. So, if you crash Activity A once, the cost is $9,000, if you have to crash Activity A a second time, the cost is $9,500)

Crash Costs
Activity Immediate Predecessor Normal Time (weeks) 1st crash 2nd crash

A 3 $9,000 $9,500
B A 6 $3,500 $6,000
C А 7 $4,000 $5,000
D B 7 $4,500 $6,000
E C 5 $7,000 $7,500
F D,E 8 $10,000 $12,000
G F 2 $14,000 $16,000

What is the minimum cost to crash this project by 2 weeks?

a. $12,000
b. $9,000
c. $16,000
d. $3,500

Which of the following correctly lists the needs of consumers which should be met?

Play now? Play later?You can become a millionaire! That's what the junk mail said. But then there was the fine print:If you act before midnight tonight, then here are you chances: 0.1% that you receive $1,000,000;75% that you get nothing, otherwise you must PAY $5000.But wait, there's more! If you don't win the million AND you don't have to pay on your first attempt thenyou can choose to play one more time.If you do, then we 20X your probability of winning big - yes, you will hava a 2% chance ofreceiving $100,000 and 60% chance of winning $7500, but must pay $10,000 otherwise.What is your expected outcome for attempting this venture? Solve this problem usinga decision tree and clearly show all calculations and the expected value at each node.Answer these questions:1) should you play at all? (5%) And if so, what is my expected (net) monitary value? (10%)2) If you play and don't win at all on the first try (but don't lose money), should you try again? (5%) Why? (5%)3) clearly show the decision tree (40%) and expected net monitary value at each node (25%)

Victory Company uses weighted-average process costing to account for its production costs. Conversion cost is added evenly throughout the process. Direct materials are added at the beginning of the first process. During November, the first process transferred 715,000 units of product to the second process. Additional information for the first process follows. At the end of November, work in process inventory consists of 201,000 units that are 90% complete with respect to conversion. Beginning work in process inventory had $416,780 of direct materials and $201,578 of conversion cost. The direct material cost added in November is $2,789,220, and the conversion cost added is $3,829,972. Beginning work in process consisted of 80,000 units that were 100% complete with respect to direct materials and 80% complete with respect to conversion. Of the units completed, 80,000 were from beginning work in process and 635,000 units were started and completed during the period.

Required:
Determine the equivalent units of production with respect to direct materials and conversion.

Assuming a perpetual inventory system and using the first-in, first-out (FIFO) method, determine (a) the cost of goods sold on October 24 and (b) the inventory on October 31.

On January 1, 2021, the Moody Company entered into a transaction for 100% of the outstanding common stock of Osorio Company. To acquire these shares, Moody issued $400 in long-term liabilities and also issued 40 shares of common stock having a par value of $1 per share but a fair value of $10 per share. Moody paid $20 to lawyers, accountants, and brokers for assistance in bringing about this acquisition. Another $15 was paid in connection with stock issuance costs. Prior to these transactions, the balance sheets for the two companies were as follows:
Moody Osorio
Cash $180 $40
Receivables 810 180
Inventories 1,080 280
Land 600 360
Buildings (net) 1,260 440
Equipment (net) 480 100
Accounts payable (450) (80)
Long-term liabilities (1,290) (400)
Common stock ($1 par) (330)
Common stock ($20 par) (240)
Additional paid-in capital (1,080) (340)
Retained earnings (1,260) (340)
Note: Parentheses indicate a credit balance.
In Moody's appraisal of Osorio, three assets were deemed to be undervalued on the subsidiary's books: Inventory by $10, Land by $40, and Buildings by $60. Compute the amount of consolidated inventories at date of acquisition.
A. $1,080.
B. $1,420.
C. $1,065.
D. $1,425.
E. $1,440.

Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7)
The following information applies to the questions displayed below. The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:
Accounts Debits Credits
Cash $ 4,000
Accounts Receivable 9,000
Supplies 3,000
Equipment 26,000
Accumulated Depreciation$ 6,000
Accounts Payable 4,000
Utilities Payable 5,000
Deferred Revenue 0
Common Stock 18,000
Retained Earnings 9,000
Totals $ 42,000 $ 42,000
The following is a summary of the transactions for the year:
1. January 24 Provide plumbing services for cash, $15,000, and on account, $60,000.
2. March 13 Collect on accounts receivable, $48,000.
3. May 6 Issue shares of common stock in exchange for $10,000 cash.
4. June 30 Pay salaries for the current year, $32,000.
5. September 15 Pay utilities of $5,000 from 2020 (prior year).
6. November 24 Receive cash in advance from customers, $8,000.
7. December 30 Pay $2,000 cash dividends to stockholders.
The following information is available for the adjusting entries.
Depreciation for the year on the machinery is $6,000.
Plumbing supplies remaining on hand at the end of the year equal $1,000.
Of the $8,000 paid in advance by customers, $6,000 of the work has been completed by the end of the year.
Accrued utilities at year-end amounted to $7,000.
Prepare the income statement for the year ended December 31 2021.
Prepare an adjusting trial balance.

1. Calculate the income elasticities of demand for the following:
A. Income rises by 20%; demand increases by 10%.
B. Income rises from $30,000 to $40,000; demand increases (at a constant price) from 16 to 19.
2. For each of the following pairs of goods, state whether the cross-price elasticity is likely positive, negative, or zero. Explain.
A. Pen, pencil.
Close to zero. While they are substitutes they are not close substitutes.
Negative. They are complements.
Positive. They are close substitutes.
B. Ketchup, hot dogs.
Negative. They are complements.
Positive. They are close substitutes.
Close to zero. While they are substitutes they are not close substitutes.
C. Tortillas, lobster tail.
Negative. They are complements.
Positive. They are close substitutes.
Close to zero. While they are substitutes they are not close substitutes.
D. Home heating oil, natural gas.
Positive. They are close substitutes.
Negative. They are complements.
Close to zero. While they are substitutes they are not close substitutes.
3. One football season Domino’s Pizza, a corporate sponsor of the Washington Redskins (a football team), offered to reduce the price of its $8 medium-size pizza by $1 for every touchdown scored by the Redskins during the previous week. Until that year, the Redskins weren’t scoring many touchdowns. Much to the surprise of Domino’s, in one week in 1999, the Redskins scored 1 touchdown. (Maybe they like pizza.) Domino’s pizzas were selling for $7 a pie! The quantity of pizzas demanded soared the following week from 50 pies an hour to 60 pies an hour. What was price elasticity of demand for Domino’s pizza?
4. When tolls on the Dulles Airport Greenway were reduced from $2.00 to $0.75, traffic increased from 12,000 to 34,000 trips a day. Assuming all changes in quantity were due to the change in price, what is the price elasticity of demand for the Dulles Airport Greenway?
5. Determine the price elasticity of demand if, in response to an increase in price of 20%, quantity demanded decreases by 25%.
6. When the price of ketchup falls by 17%, the demand for hot dogs rises by 4%b. Income rises from $75,000 to $90,000; demand increases (at a constant price) from 50 to 55..
A. Calculate the cross-price elasticity of demand.
B. Are the goods complements or substitutes: .
C. In the original scenario, what would have to happen to the demand for hot dogs for us to conclude that hot dogs and ketchup are substitutes?
1. The demand for hot dogs would have to decline.
2. The demand for hot dogs would have to remain unchanged.
3. The demand for hot dogs would have to rise.
7. Calculate the income elasticities of demand for the following:
A. Income rises by 5%; demand increases by 5%.
B. Income rises from $75,000 to $90,000; demand increases (at a constant price) from 50 to 55.
8. One football season Domino’s Pizza, a corporate sponsor of the Washington Redskins (a football team), offered to reduce the price of its $8 medium-size pizza by $1 for every touchdown scored by the Redskins during the previous week. Until that year, the Redskins weren’t scoring many touchdowns. Much to the surprise of Domino’s, in one week in 1999, the Redskins scored 1 touchdown. (Maybe they like pizza.) Domino’s pizzas were selling for $7 a pie! The quantity of pizzas demanded soared the following week from 50 pies an hour to 60 pies an hour. What was price elasticity of demand for Domino’s pizza?

The children slept well ____________________ the noise.

Your firm has taken out a loan with APR​ (compounded monthly) for some commercial property. As is common in commercial real​ estate, the loan is a ​-year loan based on a ​-year amortization. This means that your loan payments will be calculated as if you will take years to pay off the​ loan, but you actually must do so in years. To do​ this, you will make equal payments based on the ​-year amortization schedule and then make a final 60th payment to pay the remaining balance.
A. What will your monthly payments be?
B. What will your final payment be?

Mustang Auto​ Parts, Inc. is considering one of two forklift trucks for its assembly plant.
Truck A costs​ $15,000 and requires​ $3,000 annually in operating expenses. It will have a​ $5,000 salvage value at the end of its​ three-year service life.
Truck B costs​ $20,000, but requires only​ $2,000 annually in operating​ expenses; its service life is four​ years, at which time its expected salvage value will be​ $8,000.
The​ firm's MARR is​ 12%. Assuming that the trucks are needed for 12 years and that no significant changes are expected in the future price and functional capacity of each​ truck, select the most economical truck on the basis of AE analysis.

Puffin Industries acquired all of Sunset Coast Digital's stock on January 1, 2014, for $3,500,000, $2,100,000 in excess of book value. At that time, Sunset Coast's inventory (LIFO) was overvalued by $500,000 and its plant assets (10-year life) were overvalued by $1,000,000. The remaining excess of cost over book value is attributed to undervalued identifiable intangible assets being amortized over 20 years. Sunset Coast depreciates plant assets and amortizes intangibles by the straight-line method. During 2014 and 2015, Sunset Coast reported total net income of $650,000 and paid out 50 percent in dividends. Puffin carries its investment in Sunset Coast using the complete equity method. Sunset Coast's inventory increased each year since it was acquired by Puffin, and Sunset Coast's reported net income for 2016 was $200,000, and dividends totaled 50 percent of reported income.

Required:
a. Compute Puffin's 2016 equity in net income of Sunset Coast.
b. Compute the balance in the Investment in Sunset Coast account at December 31, 2016, after all equity method entries have been booked.
c. Prepare the working paper eliminating entries needed in consolidation at December 31, 2016.

Linda Williams is the new owner of Linda’s Computer Services. At the end of July 2022, her first month of ownership, Linda is trying to prepare monthly financial statements. She has the following information for the month.
1. At July 31, Linda owed employees $1,950 in salaries that the company will pay in August.
2. On July 1, Linda borrowed $18,000 from a local bank on a 12-year note. The annual interest rate is 10%.
3. Service revenue unrecorded in July totaled $1,600.
Prepare the adjusting entries needed at July 31, 2022. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

During its first year of operations, Drone Zone Corporation (DZC) bought goods from a manufacturer on account at a cost of $55,000. DZC returned $8,500 of this merchandise to the manufacturer for credit on its account. DZC then sold $43,000 of the remaining goods at a selling price of $69,600. DZC records sales returns as they occur and then records estimated additional returns at year-end. During the year, customers returned goods that had been sold at a price of $7,300. These goods were in perfect condition, so they were put back into DZC’s inventory at their cost of $4,500. At year-end, DZC estimated $9,510 of current year merchandise sales would be returned to DZC in the following year; DZC estimates $5,800 as its cost of this merchandise.

Required:
Prepare journal entries to record DZC's transactions and estimates, assuming DZC uses a perpetual inventory system.

Case ScenarioOver the past four years, the LSS organization, a nonprofit organization headquartered in Minneapolis, MN, has become renowned nationally for its Camp Noah project. Following floods, tornadoes or other weather emergencies, children lose their daily routine, their schools and oftentimes their homes. Parents are often stressed and unavailable during emergencies, and children have few resources to help them understand their situation. In Camp Noah, volunteers with skills in child psychology and counseling meet in a two day support group environment with children in flood ravaged areas. They encourage the children to share their stories and develop important resiliency skills and learn how to cope emotionally with the disaster.Due to the need for such services, LSS has developed a training system that lets them partner with resource organizations located near flood or tornado areas. They have partnered with many local organizations around the U.S. to train, equip and empower volunteers to staff local camps attended by children during their summer vacation. LSS also provides pre-packaged Camp Noah supplies that range from workbooks, crayons and puppets to a quilt for each child.Recently, powerful rainstorms in southeastern France triggered flash flooding that displaced more than 1000 families, and left 200,000 people without electricity for more than two weeks. City officials in France called the LSS Director of Camp Noah Services, Chris Walker, and asked if she could provide training and equip 20 volunteers in southeastern France to deliver the Camp Noah curriculum to up to 500 children. The French officials have asked that a decision to proceed be made within 2 weeks, and that the training and they want the equipment be delivered 6 weeks after the decision is made. Chris Walker wants to help but isn’t sure how to start. Currently, Camp Noah supplies are all written in English, and the counselor training documents are only written in English as well. The floods occurred in an area of France that has few English speakers.You are a contract employee who has been engaged to help LSS because you speak French fluently and because you are an expert, experienced project manager with great interpersonal skills. Your job is to assist the director, Chris Walker, during project initiation. If the project is approved, you may be asked to lead the remainder of the project as well. You and Chris have been in meetings together all day discussing the opportunity for a French Camp Noah. You’ve been listening very carefully and asking dozens of questions about the potential effort. Now, you’re ready to get started and put your considerable project management skills and knowledge to work.Questions based on above scenario and answer need to be 1/2 page long:1. Is this (or will this be) a project or operations? Justify your choice.2. What process group is this project currently in? How do you know?3. As an experienced project manager, you are aware that analyzing the environment in which a project operates is critically important. Select two (2) OPA and two (2) EEF that you believe are important to understand for this project. Apply these to the case scenario and justify why the four items you selected are important. 4. Once the decision is made to proceed with the project, Chris Walker, the director, will need to select a project manager. You know that LSS is a strong-matrix org. What does this mean in terms of how the project will be conducted and the role of the project manager? (5. You and Chris Walker, the director, will work on trying to define what project success will look like as you define the project objectives. What should you keep in mind about the process of writing objectives? Why are good statements of project objectives important to project success?

Terrill Company finds its records are incomplete concerning a piece of machinery used in its plant. According to the company records, the machinery has an estimated useful life of 10 years and an estimated salvage value of $ 24,000. It has recorded $ 12,000 in depreciation each year using the straight-line method. If the accumulated depreciation account shows a balance of $ 72,000, what is the original cost of the machinery and how many years remain to be depreciated?

Countess Corp. is expected to pay an annual dividend of $4.39 on its common stock in one year. The current stock price is $92 per share. The company announced that it will increase its dividend by 3.55% annually. What is the company's cost of equity

This exercise illustrates that poor quality can affect schedules and costs. A manufacturing process has 100 customer orders to fill. Each order requires one component part that is purchased from a supplier. However, typically, 2% of the components are identified as defective, and the components can be assumed to be independent(a) If the manufacturer stocks 100 components, what is the probability that the 100 orders can be filled without reordering components?(b) If the manufacturer stocks 102 components, what is the probability that the 100 orders can be filled without reordering components?(c) If the manufacturer stocks 105 components, what is the probability that the 100 orders can be filled without reordering components?

The readings suggest there are certain strategies for pricing new products, which is decidedly more difficult than adjusting prices to existing products. The new product pricing approaches are:
Skimming
Penetration
Everyday low prices
The pricing approaches discussed for existing products are:
Cost plus
Markup
Markdown
Odd-even pricing
Prestige pricing
Price lining
Demand backward pricing
Leader pricing
Sealed bid pricing
Going-rate pricing
Price bundling
Captive pricing
Product mix pricing
Two-part pricing
Promotional pricing
There is no shortage of pricing approaches, and as customers, we are exposed to all of them at some time or another in our purchasing processes.
Choose one of the pricing approaches and discuss the product, the pricing approach, and why you think it is the most appropriate approach for that particular product given your consumer characteristics. Be sure you understand the definition of your approach before tackling this topic.
Many of you will be tempted to use promotional pricing since it is the easiest to demonstrate. So promotional pricing is not "for sale" (pun intended). Pick one of the other approaches for this topic.

Windsor, Inc. uses a perpetual inventory system and reported $548,000 of inventory at the beginning of the month. During the month, the company bought $50,000 of inventory and sold inventory that had cost $35,250. At the end of the month, the physical count of inventory shows $560,000 on hand. How much shrinkage occurred during the month

Eggz, Inc., is considering the purchase of new equipment that will allow the company to collect loose hen feathers for sale. The equipment will cost $430,000 and will be eligible for 100 percent bonus depreciation. The equipment can be sold for $48,000 at the end of the project in 5 years. Sales would be $279,000 per year, with annual fixed costs of $48,000 and variable costs equal to 35 percent of sales. The project would require an investment of $27,000 in NWC that would be returned at the end of the project. The tax rate is 21 percent and the required return is 8 percent. Calculate the NPV of this project. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) NPV

denver company issued bonds with a face value of 100,000 and stated interest rate of 8%. the bonds have a life of five years and were sold at 102 1/2. if denver amoritizes discounts and premiums using the straight line method, the amount of interest expense each full year would be

Which activities are often required of someone who is in the performing arts?

A. writing creatively, remembering a script, and entertaining people

B. going on auditions, using pottery wheels, and scheduling tasks

C. creating artwork, designing a dance routine, and interviewing people to get information

D. coordinating performances, attending events to market themselves, and operating technical equipment

Calculating costs
Rosa is working for a consulting firm making $50,000 per year but considers starting her own consulting company. Rosa has determined that to launch the business, she needs to invest $80,000 of her own funds. The annual cost of running the business will include $50,000 for the rent of the office space, $180,000 for employee wages, and $8,000 for materials and utilities. Rosa plans to manage the business, which means that she will have to quit her current job. Suppose that the interest rate (or rate of return) on investments in the economy is 5%.

I am not a very adventurous person on the job.