Is there a psychological contract between the students enrolled in this course and the instructor? What are some of the specifics of this contract? How was the contract determined?
What will be an ideal response?
Students will probably suggest that there is a psychological contract between the students and the instructor and that the contract involves features such as the following: (1) Instructor's obligations include organizing and teaching the course, being available to assist students in the learning process, making assignments, giving exams and objectively compiling grades on the student's performance; and (2) Student's obligations involve coming to class, taking notes, participating in discussion, exercises and case analysis, doing assigned readings and projects, and taking tests The contract is a function of the class syllabus, opening day statements by the instructor, and by the guidelines each institution sets up for student and instructor conduct. Some students might suggest that the instructor has an obligation to be interesting, entertaining, funny, inspirational, and understanding of student excuses for incomplete or unacceptable work.
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Acti Manufacturing Corporation is estimating the following raw material purchases for the final four months of the year: September$830,000October$940,000November$860,000December$780,000At Acti, 40% of raw materials purchases are normally paid for in the month of purchase. The remaining 60% is paid for in the month following the purchase.In Acti's budgeted balance sheet at December 31, at what amount will accounts payable for raw materials be shown?
A. $468,000 B. $588,000 C. $780,000 D. $564,000
What does it mean when a company has positive free cash flow? What does it mean when a company has negative free cash flow?
Since the late 1960s, an outcry has arisen for business to be more socially responsible. This expression of public concern has resulted in part from all but which of the following factors?
A) the complexity and interdependence of a postindustrial society B) political influence that has translated public outcry for socially responsible conduct into government regulation C) a consensus among citizens that the sole responsibility of business is to generate a profit D) philosophical differences about what the obligation of business should be
Barnett Products manufactures three types of remote-control devices: Economy, Standard, and Deluxe. The company, which uses activity-based costing, has identified five activities (and related cost drivers). Each activity, its budgeted cost, and related cost driver is identified below.ActivityCostCost DriverMaterial handling$225,000 Number of partsMaterial insertion 2,475,000 Number of partsAutomated machinery 840,000 Machine hoursFinishing 170,000 Direct labor hoursPackaging 170,000 Orders shippedTotal$3,880,000 The following information pertains to the three product lines for next year: Economy Standard DeluxeUnits to be produced 10,000 5,000 2,000 Orders to be shipped 1,000 500 200 Number of parts per unit 10 15 25 Machine hours per
unit 1 3 5 Labor hours per unit 2 2 2 What is Barnett's pool rate for the material-insertion activity? A. $1.00 per part. B. $11.00 per part. C. $49.50 per part. D. $16.18 per labor hour. E. None of the answers is correct.