Spotted Frog Winery California, produces 75,000 cases of wine a year. It employs 52 full-time workers and, during harvest, another 25 people as pickers. During the 2011 harvest, some employees were unhappy about working conditions and discussed unionizing. They contacted the Winery Workers of America (WWA) for help. Spotted Frog management was upset. If it had to pay workers more (as the union
promised), the winery would lose its slim profits. Believing he was acting correctly, the president distributed a memo stating that any employee caught discussing unionization would be fired. Pierre, the wine master at Spotted Frog, was furious about the memo and became an advocate for the union cause. Management would not fire Pierre because he gave their wine its unique taste. But they did fire ten employees who spoke with Pierre. WWA collected authorization cards from employees, requested a representation election, and won a close election. The union, with Pierre as its agent, began negotiating a collective bargaining agreement. Negotiations went badly as the management rejected every proposal. WWA called a strike against Spotted Frog. After two weeks, management caved in and signed a contract, so its employees returned to work. As Pierre entered the winery, he did not see some grape skins on the floor. He slipped and was injured. If Spotted Frog management went to court for an injunction to stop the WWA strike, management would be:
a. granted an injunction based on the Taft-Hartley Act
b. denied an injunction based on the Norris-La Guardia Act c. granted an injunction based on the Norris-La Guardia Act
d. denied an injunction based on the Fair Labor Standards Act e. granted an injunction because Pierre was irrational
d
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For the following types of companies, discuss whether you think their cash flows from operations, investing, and financing will be positive (the activity provides cash) or negative (the activity uses cash). Provide support for your answer. 1 . Tech
Corporation is a developer of computer software for the gaming industry. The company recently launched its first software title. The company is expanding its operations by hiring additional developers and administrative staff. The company is not yet profitable, but expects to break even within two years. Investors view it as having a first mover advantage and have been happy to invest in the company. 2 . Midwest Corporation is a supplier to the agricultural industry. The company is experiencing its 25th year of profitability, but is concerned that sales have contracted for the fifth year in a row. Midwest prides itself in paying dividends and having no debt on its balance sheet. 3 . Semi Inc manufactures semiconductors. The company has just introduced its ninth new product and is the leader in market share for the industry. The company continues to invest in research and development and expand by purchasing competitors. The company has yet to pay dividends, but is considering it in the future. The company's largest current asset is cash, due to its high profit margin.
Averette & Averette Averette & Averette, a local dental practice, currently makes its own dentures for customers. The dental practice has one part-time employee who comes in weekly to make dentures. The employee is paid $150 per denture set. The direct materials and variable overhead cost per set of dentures is $75 and $25, respectively. In addition, the practice allocates $10,000 of fixed
overhead to the denture-making department. The practice makes 1,000 sets of dentures per year. An outside company who specializes in the making of dentures has offered to make each set of dentures for Averette & Averette for $255 per set. Refer to the Averette & Averette information above. If Averette & Averette outsources the making of dentures, the net income will: A) decrease by $15,000. B) increase by $5,000. C) increase by $15,000. D) decrease by $5,000.
Which of the following sets of characteristics is representative of a low-involvement purchase?
A. The item to be purchased is expensive and seldom purchased, but carries little risk and requires little research. B. The item to be purchased is inexpensive and frequently purchased, is an item of limited risk, and requires little forethought. C. The item to be purchased is expensive, seldom purchased, and risky, and requires research. D. The item to be purchased is inexpensive, seldom purchased, and risky, and requires little research. E. The item to be purchased is expensive and frequently purchased, carries little risk, but requires research.
Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year 2 Year 1Cash$37,500 $36,850 Short-term investments 90,000 90,000 Accounts receivable, net 85,500 86,250 Merchandise inventory 121,000 117,000 Prepaid expenses 12,100 13,500 Plant assets 388,000 392,000 Accounts payable 113,400 111,750 Net sales 711,000 706,000 Cost of goods sold 390,000 385,500
A. 42.3. B. 43.9. C. 113.3. D. 46.2. E. 80.0.