ACCT 505 Midterm Exam

1. (TCO A) Wages paid to an assembly line worker in a factory are a

2. (TCO A) The costs of staffing and operating the accounting department at Central Hospital would be considered by the Department of Surgery to be

3. (TCO A) Property taxes on a company's factory building would be classified as a(n)

4. (TCO A) Within the relevant range, variable costs can be expected to

5. (TCO F) Which of the following statements is true?

I. Overhead application may be made slowly as a job is worked on.

II. Overhead application may be made in a single application at the time of completion of the job.

III. Overhead application should be made to any job not completed at year end in order to properly value the work in process inventory

6. (TCO F) Which of the following statements about the process-costing system is incorrect?

7. (TCO F) The weighted-average method of process costing differs from the FIFO method of process costing in that the weighted-average method

8. (TCO B) The contribution margin ratio always decreases when the

9. (TCO B) Which of the following would not affect the break-even point?

10. (TCO E) Under variable costing,

1. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larklin Corporation for the just-completed year.

Sales	$820
Purchases of raw materials	$195
Direct labor	$170
Manufacturing overhead	$250
Administrative expenses	$180
Selling expenses	$140
Raw materials inventory, beginning	$80
Raw materials inventory, ending	$35
Work-in-process inventory, beginning	$65
Work-in-process inventory, ending	$30
Finished goods inventory, beginning	$130
Finished goods inventory, ending	$165

Prepare a Schedule of Cost of Goods Manufactured statement in the text box below

2. (TCO F) The Indiana Company manufactures a product that goes through three processing departments. Information relating to activity in the first department during June is given below.

		Percentage Completed
	Units	Materials	Conversion
Work in process, June 1	70,000	65%	45%
Work in process, Jun 30	60,000	75%	65%

The department started 290,000 units into production during the month and transferred 300,000 completed units to the next department.

Required: Compute the equivalent units of production for the first department for June, assuming that the company uses the weighted-average method of accounting for units and costs

3. (TCO B) Drake Company's income statement for the most recent year appears below.

Sales (45,000 units)	$1,350,000
Less: variable expenses	750,000
Contribution margin	600,000
Less: fixed expenses	375,000
Net operating income	$225,000

Required:

a.Calculate the unit contribution margin.

b.Calculate the the break-even point in dollars.

If the company desires a net operating income of $290,000, how many units must it sell?

4. (TCO E) Maffei Company, which has only one product, has provided the following data concerning its most recent month of operations.

Selling price	$175
Units in beginning inventory	0
Units produced	9,500
Units sold	8,000
Units in ending Inventory	1,500
Variable costs per unit:
Direct materials	$55
Direct labor	$38
Variable manufacturing overhead	$2
Variable selling and admin	$10
Fixed costs:
Fixed manufacturing overhead	$300,000
Fixed selling and admin	$125,000

Required:

a.What is the unit product cost for the month under variable costing?

b.What is the unit product cost for the month under absorption costing?

c.Prepare an income statement for the month using the variable costing method.

Prepare an income statement for the month using the absorption costing method

MGMT 520 FINAL EXAM KELLER NEW NEW NEW

1. (TCOs D, E, F) Frank Jones is a college student who had a plow attached to his jeep so he could earn extra money plowing during the winter. Jones was under contract to plow the driveways of Mr. Washington and Ms. Adams, two neighbors down the street. John Smith lives between Washington and Adams. Jones took it upon himself to plow Smith’s lot the seven times this past winter when there were storms and when he plowed the other two lots. Jones had never spoken to Smith about it, and Smith never objected. In the spring, Jones personally appeared at Smith’s house and presented him with a bill. Smith refused to pay Jones, stating that, “he never agreed to any contract.” That statement was made after Jones presented him with a bill of $600, which he calculated as the reasonable value of his services. After Smith’s obnoxious response, Jones yelled: “I will see you in court!”
What legal arguments could Jones make to enforce his $600 bill? What legal arguments could Smith make to avoid liability? (Points : 15)

2. (TCOs B, C, G, I) Lonestar Trucking, a large freight carrier servicing the Southwest, learns from reading in the industry trade magazine that the Federal Motor Carrier Safety Administration (FMCSA) has proposed a regulation change. The regulation, proposed pursuant to a statute that restricts drivers from operating/driving a truck for more than twelve (12) hours a day, will now require drug testing of any driver involved in an accident. The regulation was proposed due to political pressure from Mothers Against Impaired Driving (MAID), a group dedicated to eliminating deaths due to people driving while impaired. Lonestar Trucking is concerned, not just about the costs of implementing such a regulation, but how it will comply with its requirements since accidents often occur far from their base of operations. Lonestar Trucking’s employees and their union are also very upset with the proposal. They are concerned that the field drug tests used by police officers are notorious for giving “false positive” results, and that the proposed regulation will require that a test be given even when “the other diver” is clearly at fault.

What should Lonestar Trucking do regarding the proposed change? (Points : 15)

3. (TCO C) Three professors from Keller’s Illinois campus, Favre, Bush, and Clinton, decide to visit XYZ Go-kart facility together in Minnesota. This decision is made after a lengthy faculty brunch, at which unlimited alcoholic mimosas were served. XYZ Go-kart advertises at the college’s various campuses and, in fact, the professors use their faculty discount at the facility. At the facility signs are posted everywhere in bold: “BY PARTICIPATING IN Go-KART RACING, YOU VOLUNTARILY ASSUME THE RISK OF ANY DEATH OR INJURY THAT MAY RESULT. “ Additionally, the professors hurriedly sign a contract, which states: “YOU ARE GIVING UP ALL LEGAL RIGHTS”; “XYZ WILL NOT BE HELD LIABLE FOR ANY NEGLIGENCE RESULTING IN YOUR INJURY OR DEATH”; and “THE PARTIES AGREE THAT ANY POSSIBLE LEGAL ACTION WILL BE HEARD IN THE STATE OF MINNESOTA.”

4. (TCOs A, D, E) Judy Collinsworth, a then-unknown folk singer, signed a three album recording contract with Mercury Apollo Music, Inc. Mercury Apollo Music was a boutique label specializing in folk artists. Collinsworth’s first album for Mercury Apollo was moderately successful. The second album, unfortunately, was panned by the critics and did not sell. Mercury Apollo Music was acquired by NastiCondiMedia, Inc. NastiCondiMedia, in an effort to re-vitalize Collinsworth’s career, encouraged her to leave the folk style she was committed to and do more commercially viable pop material. Collinsworth rejected this request. Furious with NastiCondiMedia, Collinsworth wanted to end the contract. On her own, with what remaining personal funds she had left, she immediately went to an independent recording studio and did sessions toward a third album without approval or consent by NastiCondiMedia. Using her concert band, she recorded tracks for over 30 songs. Due to the financial failure of Collinsworth’s second album and her recent unsuccessful concert tour, NastiCondiMedia did not do the final production work on Collinsworth’s third album.

Collinsworth then entered into a contract with EasyListening Communications, Inc. She began recording a new folk album with EasyListening in conjunction with a concert tour that they financed and produced. At her concerts, Collinsworth would regularly introduce the new material that would be on her new album.
Shortly after the concert tour began, NastiCondiMedia brings suit against Judy Collinsworth and EasyListening Communications, Inc.

(a) What causes of action might NastiCondiMedia bring against Collinsworth and EasyListening?

Paul and Thomas Franklin, brothers, are college students and web designers. While at the University of Megalopolis, a private, for-profit college in the “Quad State” area, they started an online chat service called FaceLinked. Paul attended and resided at the college’s campus in the State of Quadrahenria. Thomas, who was on probation during college for a low level felony drug conviction, could not be a resident student and took classes at the campus in the Commonwealth of New Guernsey campus. The chat service began by putting information from the school’s student directory online, and offering blog, chat, and message board features. FaceLinked was such a hit that within a year, the school advised the brothers that they had to remove FaceLinked from the university’s server as it was utilizing too many resources. This was not a problem as the Franklins found advertisers, so they were able to move FaceLinked to a private server without charging user fees. In fact, FaceLinked was earning so much revenue that the Franklin brothers were able to pay themselves and the six friends who helped them start and operate it salaries. The Franklin brothers are graduating from the University of Megalopolis and will be attending separate graduate programs. Paul will attend Quadrahenria State University, and Thomas the College of New Guernsey. As FaceLinked is so successful, the brothers not only plan to expand it to the two new colleges that they are attending, but to as many other colleges within the four states comprising the “Quad State” area as possible. They even have hopes of “going national.” As part of their plan to expand to other campuses, they expect to recruit a student from each of the new schools “to get them in.” They wish to formalize FaceLinked by organizing it as a proper business. The brothers would like to maintain a majority interest in the business, give about 20 percent to the six friends from their undergraduate days who helped them run the service, and use the remaining interest in the business to attract other investors and use employee incentives.
They seek your advice on (a) the form of business they should use, (b) who might have a claim on the business, and (c) how they might protect themselves from claims regarding a computerized internet platform?

(TCOs A, D, E) Woody worked at the local country club pool as a lifeguard, not a swim teacher, for the summer of 2013. Woody was a public school physical education teacher. The country club did not do a background check or confirm any references when they hired him. They relied on the “say-so” of Woody’s brother, a member of the country club board of directors. The country club only did a cursory internet search of the state’s Department of Education website to verify that he had a valid teaching certificate. When one of the swim instructors unexpectedly quit one day, he took over the class. Initially, the class went well. Eventually, Woody also took over coaching the club’s competitive swim team. When he became the swimming coach, Woody effectively stopped “teaching” the swim classes. Instead, he had all the swimmers in the classes do races and train for competitive meets during the 30 minute lessons. Woody had done this many times during the summer. His boss, the country club director, knew this and, as the swim team was winning, ignored complaints from parents and students. Woody raced with the swimmers and pushed the winners out of the way when they tried to touch the side of the pool so that Woody’s team would win each time. This was not the first time that Woody had injured swimmers. Last year, he was arrested for physically abusing a child he coached at his school. Although the criminal charges were dropped, Woody is on administrative leave from his public school job until an administrative hearing with the state Department of Education can be held in the fall. The incident was reported in several local papers, and his administrative suspension is listed on the state’s database.
Several of the children, ages 6-8, reported to their parents that they had been physically assaulted by Woody while in swim class for not “working hard enough!” The children had bruises on their shoulders. In addition, Woody began “kidding” an 18 year old black college student who worked as a lifeguard and assisted Woody with the coaching. Over time, Woody’s “jokes” toward the young man became very aggressive. Woody continued even though the young man asked him to stop. In fact, after the young man told Woody to stop as he felt harassed, Woody hired another lifeguard to assist him with the coaching. The country club director was aware of this situation, but as the swim team was winning, he took the position that it was an interpersonal issue that the two should workout among themselves.
Several parents brought suit against the local country club, Woody, and the country club director. The young lifeguard has also brought suit. The local country club pool alleges that they are not liable. Discuss the ethical, liability, and agency issues presented by this matter, and all defenses available to the local country club pool. (Points : 30)

(TCOs G and I) In the 1930s, after immigrating to the U.S. from Ireland at the onset of World War II, Shamus and Mary McCream opened a bakery in Boston. They specialized in snack cakes. McCream Cup Cakes became so popular in the area that the family stopped being actual bakers and became manufacturers/ food processors of the snack cakes on a regional basis. After returning from the war, their son Steve completed college and began working in television advertising in the early 1950s. Steve approached his parents and his older brother Tom, who was now running the business, about the possibilities of advertising and “going national.” The family liked the idea and began advertising and expanding. In addition, to fuel the expansion, they offered retailers price discounts and other incentives if they prominently positioned the store displays set-up by McCream rack jobbers. By the 1960s, they were a national brand, controlling over 80 percent of the snack food industry.
In the 1970s, with the advent of the hippie counter-culture and the back-to-Earth movement, a new competitor made an impact on the McCream business. The company, Healthy Snacks, began advertising that their products only used natural ingredients. They even began running a commercial in which a mother and child compared their Healthy Snacks with a lampooned product named “Cup Cake McCrumbs,” stating that it tasted like poison and dog food! Tiny-Big- Brian, a counter-culture pop star with a late night UHF and cable show, joined in on the controversy created by the commercial and stated that he did not understand how people, “could buy such poisonous dog food and serve it to their children as snacks!” Market studies showed that McCream Cup Cakes sales suffered. As a result, McCream began a more aggressive shelf space and display marketing campaign to combat Healthy Snacks’s television advertising. McCream’s marketing efforts were successful. By also offering volume discount incentives, they had prevailed upon retailers in their traditional East Coast and Midwest markets to prominently display their products. To counter this strategy, Healthy Snacks offered a deep discount to WaySafeMart, a Southwest and West Coast discount chain, in exchange for an agreement to exclusively sell only their snack foods.
In reality, McCream Cup Cakes used only FDA approved ingredients and preservatives and were made in American plants that always passed inspections. In contrast, although Healthy Snacks’s pilot plant was in Florida, it had subcontracted the bulk of its production to a plant in the Dominican Republic. As a result, to maintain a level of quality, Healthy Snacks used the maximum amount of preservatives allowed under the law of the Dominican Republic for the imported product. The level was so high, reactions to the food were often reported. The levels were higher than those allowed by FDA regulations, but allowed per an agricultural import/export treaty between the United States and the Dominican Republic. Several people who ate these Healthy Snacks required emergency room visits. A child in Georgia, with food allergy problems, even died. Her parents served her the snack, relying on the advertising, not knowing that some of the natural ingredients used in the Dominican Republic-made product were dangerous to her.

The McCream family seeks your advice and opinion regarding:
(1) Healthy Snacks’s advertising campaign.

ACCT 424 Midterm Exam

1. (TCO 2) Charles and David are equal partners in Cozy Enterprises, a calendar-year partnership. During the year, Cozy Enterprises had gross income of $400,000 and operating expenses of $220,000. In addition, the partnership sold land that had been held for investment purposes for a long-term capital gain of $100,000. During the year, Charles withdrew $60,000 from the partnership, and David withdrew $60,000. Discuss the impact of this information on the taxable income of Cozy Enterprises’ Charles and David.

2. (TCO 2) A C corporation has gross receipts of $150,000, $35,000 of other income, and deductible expenses of $95,000. In addition, the corporation incurred a net long-term capital loss of $25,000 in the current year. What is the corporation's taxable income?

3. (TCO 1) Sarah transfers property (basis of $120,000 and fair market value of $400,000) to Designer Corporation for 80% of its stock (worth $350,000) and a long-term note (worth $50,000), executed by Designer Corporation and made payable to Sarah. As a result of the transfer

4. (TCO 1) Mike Corporation, which owns stock in Red Corporation, had net operating income of $125,000 for the year. Red pays Mike a dividend of $100,000. Mike takes a dividends received deduction of $80,000. Which of the following statements is correct?

5. (TCO 1) Cheryl transfers property worth $275,000, basis of $100,000, to Frank Corporation for 80% of the stock in Frank, worth $150,000, and a long-term note, executed by Frank Corporation and made payable to Cheryl, worth $125,000.

6. (TCO 11) Candace, a calendar-year taxpayer subject to a 35% marginal tax rate, claimed a charitable contribution deduction of $250,000 for a sculpture that the IRS later valued at $200,000. Which is the applicable overvaluation penalty?

7. (TCO 11) In which of the following circumstances does the 3-year statute of limitations on additional tax assessments apply?

8. (TCO 2) Dodge Inc., has taxable income of $10 million this year. Which is the maximum DPAD tax savings for this C corporation?

9. (TCO 2) The following information pertains to Dahl Corporation.

Accumulated earnings and profits at January 1, Year 1: $120,000. Earnings and profits for the year ended December 31, Year 1 $160,000. Cash distributions to individual stockholders during Year 1 $360,000. What is the total amount of distributions taxable as dividend income to Dahl's stockholders in Year 1?

10. (TCO 3) Wood Corporation distributes land (fair market value of $75,000 and an adjusted basis of $25,000). The land is subject to a liability of $30,000. Which is the total effect of the distribution on the E&P of Wood?

1. (TCO 3) Oak Corporation, a calendar-year taxpayer, has taxable income of $110,000 for the year. In reviewing Oak's financial records, you discover the following occurred this year.

Federal income taxes paid: $25,000
Net operating loss carryforward deducted currently: $25,000
Gain recognized this year on an installment sale from a prior year: $12,000
Depreciation deducted on tax return (ADS depreciation would have been $8,000): $15,000
Interest income from Illinois state bonds: $37,000

Oak Corporation's current E&P is _____.

2. (TCO 3) Which statement is false?

3. (TCO 4) Five years ago, Reba transferred property she had used in her sole proprietorship to Green Corporation for 1,000 shares of Green Corporation in a transaction that qualified under § 351. The assets had a tax basis to her of $100,000, and a fair market value of $270,000 on the date of the transfer. In the current year, Green Corporation (E&P $800,000) redeems 250 shares from Reba for $220,000 in a transaction that qualifies for sale or exchange treatment. With respect to the redemption, Reba will have a _____.

4. (TCO 4) Cook Corporation has 1,000 shares of stock outstanding. Harold owns 250 shares, Harold's father owns 150 shares, Harold's brother owns 250 shares, and Harold's son owns 50 shares. Blue Corporation owns the other 300 shares in Cook Corporation. Harold owns 60% of the stock in Blue Corporation. Applying the § 318 stock attribution rules, how many shares does Harold own in Cook Corporation?

5. (TCO 5) Catch Corporation gives its voting stock worth $500,000 and a building worth $250,000 with a basis of $150,000 for the assets of Neptune Corporation worth $750,000 and basis of $525,000. Neptune distributes the stock in Catch Corporation to its sole shareholder. Which, if any, of the following statements regarding this transaction is correct?

6. (TCO 5) Fruit Corporation transfers assets (fair market value of $3,000,000 and a basis of $750,000) to Nut Corporation. Fruit receives Nut voting stock worth $2,600,000 and $400,000 cash. Nut Corporation assumes none of Fruit's $600,000 liabilities. Fruit distributes the Nut stock and its liabilities to its shareholders. Fruit Corporation recognizes gain on the transfer of _____.

7. (TCO 5) Which type of reorganization can be used to divide a corporation?

8. (TCO 6) X, Y, and Z Corporations file Federal tax returns on a consolidated basis. The group’s tax return has been under audit. Under a valid tax-sharing agreement, each corporation is liable for one-third of the group’s consolidated tax liability. The parties have agreed that the group’s unpaid liability for the year is $220,000. Because of an incorrect tax return position, $120,000 interest and a $90,000 penalty is attributable to X. At present, only Y is solvent and has the cash with which to make such a substantial tax payment. What is the maximum amount for which the IRS could be successful in forcing Y to satisfy the outstanding liabilities of the consolidated group?

9. (TCO 6) ParentCo's separate taxable income was $350,000, and SubCo's was $225,000. Consolidated taxable income before contributions was $400,000. Charitable contributions made by the affiliated group included $15,000 by ParentCo, and $20,000 by SubCo. Compute the group's charitable contribution deduction

10. (TCO 6) Which tax item is not likely to be considered when a group of related corporations is evaluating the election to file on a consolidated basis?

1. (TCO 2) During the current year, Tourist Company had operating income of $510,000 and operating expenses of $400,000. In addition, Tourist Company had a long-term capital gain of $30,000. How does Cheryl, the sole owner of Tourist Company, report this information on her individual income tax return under the following assumptions?

(I) Tourist is a proprietorship, and Cheryl does not withdraw any funds from the company during the year.
(II) Tourist is an LLC, and Cheryl does not withdraw any funds from the company during the year.
(III) Tourist is an S corporation, and Cheryl does not withdraw any funds from the company during the year.
(IV) Tourist is a regular corporation, and Cheryl does not withdraw any funds from the company during the year.

2. (TCO 11) The client has decided to dispute the revenue agent's report. What is the tax advisor's next step?

3. (TCO 4) DLA Corporation has 1,000 shares of common stock outstanding. Mark owns 200 shares, Mark's mother owns 200 shares, Mark's daughter owns 100 shares, and Mark's sister owns 150 shares. The remaining shares outstanding are owned by HNK Corporation (150 shares) and TMS Partnership (200 shares). Mark owns 60% of the stock in HNK Corporation.

(I) Applying the stock attribution rules applicable in the case of a stock redemption, how many shares does Mark own in DLA Corporation?
(II) Assume Mark owns only 35% of HNK Corporation. How many shares does Mark own, directly or indirectly, in DLA Corporation?
(III) Assume Mark owns 50% of TMS Partnership. How many shares does Mark own in DLA Corporation, assuming the same facts as in (1), above, augmented by TMS's ownership of DLA shares?

BIS 261 FINAL Exam

1. (TCO 3) The most important role of a systems analyst in business is ____.

2. (TCO 3) The ____ phase of the Systems Development Life Cycle (SDLC) begins only after the new system has been installed and put into production, and it lasts throughout the productive life of the system

3. (TCO 3) Asimov, Inc. sells robot lawn mowers to large property owners. The company wishes to reduce component costs by coordinating more closely with parts vendors and reducing inventory levels. This goal could best be accomplished by developing a(n) ____________ system

4. (TCO 3) Clarke, Inc. develops information systems for law offices. The requirements for these information systems are negotiated in advance and are spelled out in detail in lengthy written contracts that are signed by all parties at the start of each project. The systems must be highly reliable and use proven, stable technology. A(n) _______________ approach to the SDLC would be best suited for these projects

5. (TCO 3) Egan Enterprises is a large multinational conglomerate with divisions in several different lines of business. Each division needs its own information systems, but there are many elements that all of the divisional systems have in common: They all deal with customers, accounts, payments, and so on. To support all of the divisions efficiently, Egan's information systems group needs to reuse these common features in many different systems, and avoid creating similar features from scratch for each division. This goal would best be achieved using a(n) ____________ development approach.

6. (TCO 4) An example of an intangible benefit is ____.

7. (TCO 4) The objective of ____ is to calculate a percentage return so that the costs and benefits are exactly equal over the specified time period

8. (TCO 4) The present value of $100,000 development costs in year 0 assuming a 15% discount rate is: ____.

9. (TCO 4) The Gibson Corporation is implementing a new manufacturing information system, but workers in the factory are resisting its adoption because they are afraid that they will be laid off once the system is in operation. This issue should have been identified during __________.

10. (TCO 5) Questionnaires can be useful in information gathering when users ____.

11. (TCO 5) A prototype has which of the following characteristics?

12. (TCO 5) A requirement for Heinlein Inc.'s new ecommerce website is that any page must display within two seconds after a link to it is clicked. This can best be classified as a ___________ requirement

1. (TCO 5) King Manufacturing is developing a new sales order system. During the analysis phase, the fact-finding activity to which the analysis team should plan to devote the most time and effort is:

2. (TCO 1) The purpose of an agenda is to define:

3. (TCO 1) If an initial low-level process intervention by a facilitator does not succeed in getting the group back on track, the facilitator should:

4. (TCO 1) During a meeting on security requirements for a new website, the team is unable to reach a decision because the corporate security policy was recently changed and no one is sure exactly what the new policy says. What should be the facilitator's response?

5. (TCO 1) What should be the meeting facilitator's response the first time that members of the group are late in returning from a break?

6. (TCO 2) A project agreement helps to eliminate unnecessary conflict within a virtual team because it:

7. (TCO 2) The enabler for traditional teams to operate virtually is:

8. (TCO 2) Leiber International is developing a new financial information system. The team to gather requirements for the new system includes members from Leiber's offices in New York, Paris, Hong Kong, and Tokyo. As the team leader, you want to hold a meeting in which you present PowerPoint slides with objectives for the new system; demonstrate the operation of the old system to illustrate some problems; and then brainstorm with the whole team to generate ideas for the new system. The best communication tool to use for this example would be:

9. (TCO 2) McCaffrey Aviation, an international air-cargo firm, is developing a new logistics system. The team to gather requirements for the new system includes members from Los Angeles, Mumbai, Berlin, London, and Rio de Janeiro. You have an initial draft of the requirements, and you want to share this draft with the entire team and enable them to change and add to it. You expect that there will be frequent changes and additions by multiple people over the next several weeks. The best tool for the team to use in collaborating on this document is:

10. (TCO 6) A concept that allows subclasses to share the characteristics of their superclasses is called ____.

11. (TCO 6) A relationship between a "sports team" and the players, coaches, and sponsor would be described as what kind of relationship?

1. (TCO 6) A(n) ____ provides an overview of all of the use cases for a system.

2. (TCO 6) In the following class diagram for a help desk system:

each Customer is associated with:

3. (TCO 6) Based on the following use case diagram for a help desk system:

when an Agent closes an incident, as part of this process, he or she also:

4. (TCO 7) ____ testing tests individual code modules or methods before they are combined with other modules or methods.

5. (TCO 7) Niven Consulting is developing a new mobile app that consultants can use to enter their billable hours from their smartphones. The project is now entering the implementation phase and programmers are about to start coding the software modules. The project manager wants to make sure that each module works correctly by itself before it is added to the official project code library. The type of testing that should be used to provide this assurance is:

6. (TCO 7) Orwell Brothers Construction is developing a new budgeting system using an iterative development process. At the end of each iteration, the team wants to identify any unresolved issues that should be worked on during the next iteration. To do this task, the team should conduct __________ at the end of each iteration

7. (TCO 7) Pournelle Products is planning to launch a new e-commerce website. A large segment of the company's customer base consists of aging baby boomers with less than perfect eyesight and hand-eye coordination. The marketing director is concerned about whether these customers will be able to read the text on the site, and is worried that some might find the navigation scheme confusing. This situation indicates a need for _________ testing

8. (TCO 8) Quality assurance (QA) activities during analysis concentrate on ____.

9. (TCO 8) If a system was analyzed and designed with object-oriented techniques, developers prepare test cases for each ____.

10. (TCO 8) Reynolds Realty has experienced problems with bugs in their production systems, so they are reorganizing their software testing process. In this reorganization, primary responsibility for performing acceptance testing should be assigned to:

11. (TCO 8) Your employer, Stephenson Services, requires a formal inspection of all official documents at the end of each phase of a project, before moving on to the next phase. At the end of the analysis phase, you have been asked to serve as a critic for the inspection of the use case diagram and use case descriptions. During the inspection, you should:

1. (TCO 3) HRSoft, LLC develops and sells custom human resources management (HRM) solutions for mid-sized businesses. The company has been using a structured systems development approach, but is considering switching to agile methods. You have been asked to discuss the suitability of this change. HRSoft's systems use reliable, proven technology. Customers often have trouble defining their needs in advance, so there are often changes to requirements while a project is underway. The HR field is heavily regulated, and systems must be certified to comply with state and federal labor laws, Occupational Safety and Health Administration (OSHA) rules, and other regulations. HRSoft is a small company with an entrepreneurial culture that operates in a moderately competitive industry. Discuss the advantages and disadvantages of agile software development methods for HRSoft. Describe three advantages and three disadvantages, writing at least one complete sentence about each advantage and each disadvantage. Your answer should be at least one paragraph of at least six complete sentences.

2. (TCO 4) Two competing companies, Alphaware and Betaware, are each planning to develop a new information system. Alphaware has a strong, experienced project management team in place, but is planning to use a complex technology that has never before been applied to this type of system. Betaware has a young, inexperienced project management team, but they will be working with a well-understand technology that the company has used successfully for similar systems in the past. Which company has the higher chance of success, and why? Write a paragraph of at least four complete sentences, explaining your answer in terms of research on project success and failure factors

3. (TCO 5) You are a business analyst at a company that sells office supplies on the Web, working on a project to develop a new order-tracking system for the website. You are planning to hold a Joint Application Design (JAD) session to gather information for the analysis phase of the project. Describe a plan for the JAD session, including who should attend, where it should be held, what equipment and tools should be available, and how the session should be conducted. Your answer should be one or more paragraphs containing at least six complete sentences.

BSOP 429 Week 4 Midterm Exam SET 1

1. (TCO 12) _____ is the objective under JIT and time-based competition. (Points : 5)

2. (TCO 2) Which of the following lead-time elements can be compressed into one well-designed PAC system? (Points : 5)

3. (TCO 3) What happens to inventory as the number of kanban cards increases? (Points : 5)

4. (TCO 1) In managing supplier relations, which of the following is a beneficial setup? (Points : 5)

5. (TCO 6) When linking marketing requirements and manufacturing strategy, what design approaches for shop floor system should be considered? (Points : 5)

6. (TCO 9) Which of the following is true? (Points : 5)

7. (TCO 4) According to Elyahu Goldratt, the TOC system uses a scheduling approach called _____. (Points : 5)

8. (TCO 5) The amount of time covered by the basic MRP record is called the _____. (Points : 5)

1. (TCO 1) Please explain PAC. (Points : 20)

2. (TCO 2) How does input from other areas into PAC and the feedback PAC provides impact PAC? Explain. (Points : 20)

3. (TCO 6) Discuss the differences between MRP and JIT. (Points : 20)

BSOP 429 Week 4 Midterm Exam Set 2

1. (TCO 12) Formal systems for shop floor control under JIT are _____.

2. (TCO 2) An operation setback chart _____.

3. (TCO 3) In order to minimize the number of orders waiting in the queue and maximize the number of orders processed in a center, which of the following rules should be used?

4. (TCO 1) Which of the following is true?

5. (TCO 6) When linking marketing requirements and manufacturing strategy, what design approaches for shop floor system should be considered?

6. (TCO 9) Which of the following is true?

7. (TCO 4) How much of total lead time is accounted for by queue time?

8. (TCO 5) Gross requirements in an MRP record are _____ because they are stated as unique items for a given period.

1. (TCO 1) List and briefly discuss the five main parts of the operations planning control (OPC) system.

2. (TCO 2) What information should be provided into PAC as feedback and why they are important?

3. (TCO 6) Compare and contrast JIT and MRP

BSOP 429 Week 8 Final Exam Set 1

1. (TCO 4) The priority rule, which will sequence jobs in the order they are received, is _____. (Points : 5)

2. (TCO 2) In an assignment method problem, if it takes Abe 3 hours to build a birdhouse and 4 hours for a doghouse, and Betty takes 4 hours for a birdhouse and 3 hours for a doghouse, what is the reduced cost (in hours) of assigning Betty to build the doghouse? (Points : 5)

3. (TCO 2) A major difference between manufacturing and service systems in terms of scheduling is (Points : 5)

4. (TCO 3) Scheduling in service systems may involve scheduling which of the following?(Points : 5)

5. (TCO 5) The owner and operator of the local franchise of Handyman, Inc., has four jobs to do today, shown in the order they were received:

Job Processing Time (hrs) Due (hrs from now)
-------------------------------------------------------------------------------------------------
W 4 4
X 3 5
Y 2 2
Z 1 1

If he uses the earliest due date first (EDD) priority rule to schedule these jobs, what will be the average job tardiness? (Points : 5)

6. (TCO 6) Building up an inventory of standard parts or modules instead of immediately producing the finished end items is the essence of (Points : 5)

7. (TCO 7) With regard to suppliers, JIT systems typically require (Points : 5)

8. (TCO 10) Which of the following is characteristic of the JIT philosophy? (Points : 5)

9. (TCO 1) In make-to-stock systems, fluctuations in sales volume are managed through which of the following? (Points : 5)

10. (TCO 5) In an MRP master schedule, the planning horizon is often separated into a series of times periods called (Points : 5)

1. (TCO 8) Explain how cellular manufacturing represents a flexible manufacturing system. (Points : 25)

2. (TCO 11) State the four building blocks of lean operations, and explain how fast and simple are the two common threads that run through them. (Points : 25)

3. (TCO 9) Elaborate on the statement: "The output of the system cannot exceed the output of the bottleneck operation(s)." (Points : 25)

4. (TCO 4) Differentiate between infinite loading and finite loading as two major approaches used to load work centers. (Points : 25)

5. (TCO 12) The theory of constraints has a goal of maximizing flow through the entire system. (Points : 25)

6. (TCO 2) Refer to the following data for jobs waiting to be processed at a single work center (jobs are shown in order of arrival):

Job Processing Time (days) Due Date (days from now)
------------------------------------------------------------------------------------------------------
A 2 2
B 5 6
C 6 10
D 3 4
E 4 8

What is the average completion time for the first-come, first-served (FCFS) priority rule schedule? Average job tardiness? Average number of jobs at the center? (Points : 25)

7. (TCO 10) Respond to the question: "Which is better, MRP or JIT?" (Points : 25)

8. (TCO 1) The design of the MPC system is influenced by some key features of market demand and product design. Name the key features that will lead to an assemble-to-order system and explain the rationale. (Points : 25)

9. (TCO 6) Market requirements drive the choice of the shop floor system approach. Describe and explain the type of market requirements that would be suitable for an MRP-based system, along the lines of product design, product variety, product volume per period, product mix changes, and delivery schedule changes. (Points : 25)

10. (TCO 10) Manufacturing strategy also drives the choice of shop floor system. Describe and explain the strategies that lend themselves to a JIT-based system, from the perspective of WIP, changeover cost, and process choice. (Points : 25)

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