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BSOP 334 Mtls Resource & Cap Pln Week 4 Lab Chapter 12 Problems 8, 10, 12, & 13 pp 545-547 Answer

BSOP 334 Mtls Resource & Cap Pln Week 4 Lab Chapter 12 Problems 8, 10, 12, & 13 pp 545-547 Answer

BSOP 334 Mtls Resource & Cap Pln Week 4 Lab Chapter 12 Problems 8, 10, 12, & 13 pp 545-547 Answer

Chapter 12: Problems 8, 10, 12, & 13 (pp. 545-547)
Chapter 12: Problems 8. Oh No!, Inc., sells three models of radar detector units. It buys the three basic models (E, F, and G) from a Japanese manufacturer and adds one, two, or four lights (component D) to further differentiate the models. D is bought from a domestic producer.

Lead times are one week for all items except C, which is two weeks. There are ample supplies of the basic units (E, F, and G) on hand. There are also 10 units of B, 10 units of C, and 25 units of D on hand. Lot-sizing rules are lot-for-lot ordering for all items except D, which must be ordered in multiples of 100 units. There is a scheduled receipt of 100 units of D in week 1.
The master schedule calls for 40 units of A to be produced in week 4, 60 units of B in week 5, and 30 units of C in week 6. Prepare a material requirements plan for D and its parents.

Chapter 12: Problems 10. Assume that you are the manager of Assembly, Inc. You have just received an order for 40 units of an industrial robot, which is to be delivered at the start of week 7 of your schedule. Using the following information, determine how many units of subassembly G to order and the timing of those orders, given that subassembly G must be ordered in multiples of 80 units and all other components are ordered lot-for-lot. Assume that the components are used only for this particular robot.

Chapter 12: Problems 12. A firm that produces electric golf carts has just received an order for 200 carts, which must be ready for delivery at the start of week 8. Information concerning the product structure, lead times, and quantities on hand is shown in the following table. Use this information to do each of the following:

a. Construct a product tree.
c. Develop a material requirements plan that will provide 200 golf carts by week 8 assuming lot-for-lot ordering.

Chapter 12: Problems 13. Refer to Problem 12. Assume that unusually mild weather has caused a change in the quantity and timing of orders for golf carts. The revised plan calls for 100 golf carts at the start of week 6, 100 at the start of week 8, and 100 at the start of week 9.a. Develop a master schedule for this revised plan.

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MGMT 592 Leadership in the 21st Century week 4 Mid Term Answer

MGMT 592 Leadership in the 21st Century week 4 Mid Term Answer

MGMT 592 Leadership in the 21st Century week 4 Mid Term Answer

1. (TCO A) Read the case “Steve Jobs – Apple,” pages 24-25. Which of the leadership theory classifications do you see apply to this case? Which one do you consider as most relevant? Explain your choice.

2. (TCO A) Compare and contrast the trait and behavioral leadership theories.

3. (TCO B) Explain the types of reinforcement, and how each is applied.

4. TCO C) Compare and contrast the position and personal power.

5. TCO H) How would you provide feedback, and why?

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Week 4

ACCT 505 Managerial Accounting Week 4 Mid Term Exam Complete Answer

ACCT-505 Managerial Accounting_Week 4 Mid Term Exam Complete Answer

ACCT 505 Managerial Accounting_Week4_Mid Term Exam Complete Answer

Set 1

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

: Prime Cost YES…..Conversion Cost NO.

Prime Cost YES…..Conversion Cost YES.

Prime Cost NO….Conversion Cost NO.

Prime Cost NO…..Conversion Cost YES.

2. Question : (TCO A) A cost incurred in the past that is not relevant to any current decision is classified as a(n)

: period cost.

incremental cost.

opportunity cost.

None of the above

3. Question : (TCO A) Depreciation of office buildings and office equipment is also known as

: variable costs.

conversion costs.

product costs.

period costs.

4. Question : (TCO A) When the activity level is expected to increase within the relevant range, what effects would be anticipated with respect to each of the following?

: Fixed costs per unit increase and variable costs per unit increase.
Fixed costs per unit decrease and variable costs per unit do not change.
Fixed costs per unit do not change and variable costs per unit do not change.
Fixed costs per unit do not change and variable costs per unit increase.

5. Question : (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.

: Only statement I is true.

Only statement II is true.

Both statements I and II are true.

Statements I, II, and III are all true.

6. Question : (TCO F) A job-order cost system is employed in those situations where

: many different products, jobs, or batches of production are being produced each period.
manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
the product moves from department to department before being completed.
the unit cost of production is computed by dividing the total production costs by the number of units produced.

7. Question : (TCO F) The FIFO method only provides a major advantage over the weighted-average method in that

: the calculation of equivalent units is less complex under the FIFO method.
the FIFO method treats units in the beginning inventory as if they were started and completed during the current period.
the FIFO method provides measurements of work done during the current period.
the weighted-average method ignores units in the beginning and ending work-in-process inventories.

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

: break-even point increases.

break-even point decreases.

variable expenses as a percentage of net sales increase.

variable expenses as a percentage of net sales decrease.

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

: Number of units sold

Variable expense per unit

Total fixed expenses

Selling price per unit

10. Question : (TCO E) In an income statement prepared using the variable costing method, variable selling and administrative expenses would

: be used in the computation of the contribution margin.

be used in the computation of net operating income but not in the computation of the contribution margin.
be treated differently from variable manufacturing expenses.

not be used.

1. Question : (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larop Corporation for the just-completed year:
Sales……………………………………………………………………… $910
Purchases of raw materials………………………………………… $225
Direct labor…………………………………………………………….. $245
Manufacturing overhead……………………………………………. $265
Administrative expenses……………………………………………. $150
Selling expenses………………………………………………………. $140
Raw materials inventory, beginning………………………………. $15
Raw materials inventory, ending………………………………….. $45
Work-in-process inventory, beginning…………………………… $20
Work-in-process inventory, ending………………………………. $55
Finished goods inventory, beginning…………………………….. $100
Finished goods inventory, ending………………………………… $135
Required: Prepare a Schedule of Cost of Goods Manufactured in the text box below.

2. Question : (TCO F) The Illinois 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 1 150,000 75% 55%
Work in process, Jun 30 145,000 85% 75%
The department started 475,000 units into production during the month and transferred 480,000 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. Question : (TCO B) A tile manufacturer has supplied the following data:
Boxes of tile produced and sold 625,000
Sales revenue $2,975,000
Variable manufacturing expense $1,720,000
Fixed manufacturing expense $790,000
Variable selling and admin expense $152,000
Fixed selling and admin expense $133,000
Net operating income $180,000
Required:
a. Calculate the company’s unit contribution margin.
b. Calculate the company’s unit contribution ratio.
c. If the company increases its unit sales volume by 5% without increasing its fixed expenses, what would the company’s net operating income be?

4. Question : (TCO E) Lehne Company, which has only one product, has provided the following data concerning its most recent month of operations:
Selling price $ 125

Units in beginning inventory 600
Units oroduced 3000
Units sold 3500
Units in ending inventory 100

Variable costs per unit:
Direct materials $ 15
Direct labor $ 50
Variable manufacturing overhead $ 8
Variable selling and admin $ 12

Fixed costs:
Fixed manufacturing overhead $ 75,000
Fixed selling and admin $ 20,000
The company produces the same number of units every month, although the sales in units vary from month to month. The company’s variable costs per unit and total fixed costs have been constant from month to month.
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.
d. Prepare an income statement for the month using the absorption costing method.

Set 2

1.(TCO A) Wages paid to an assembly line worker in a factory are a (Points : 6)

( ) Prime Cost YES…..Conversion Cost NO.
( ) Prime Cost YES…..Conversion Cost YES.
( ) Prime Cost NO….Conversion Cost NO.
( ) Prime Cost NO…..Conversion Cost YES.
Question 2. The costs of staffing and operating the accounting department at Central Hospital would be considered by the Department of Surgery to be (Points : 6)
( ) direct costs.
( ) sunk costs.
( ) incremental costs.
( ) None of the above

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

sunk cost
opportunity cost
period cost
variable cost
manufacturing cost

Question 4. 4. (TCO A) When the activity level is expected to increase within the relevant range, what effects would be anticipated with respect to each of the following? (Points : 6)
( ) Fixed costs per unit increase and variable costs per unit increase.
( ) Fixed costs per unit decrease and variable costs per unit do not change.
( ) Fixed costs per unit do not change and variable costs per unit do not change.
( ) Fixed costs per unit do not change and variable costs per unit increase.

5. Question : (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.

Only statement I is true
Only statement II is true
Both statements I and II are true
Statements I, II, and III are all true

Question 6. 6. (TCO F) A job-order cost system is employed in those situations where (Points : 6)
( ) many different products, jobs, or batches of production are being produced each period.
( ) manufacturing involves a single, homogeneous product that flows evenly through the production process on a continuous basis.
( ) the product moves from department to department before being completed.
( ) the unit cost of production is computed by dividing the total production costs by the number of units produced.

Question 7. 7. (TCO F) Equivalent units for a process costing system using the FIFO method would be equal to (Points : 6)
( ) units completed during the period, plus equivalent units in the ending work-in-process inventory.
( ) units started and completed during the period, plus equivalent units in the ending work-in-process inventory.
( ) units completed during the period and transferred out.
( ) units started and completed during the period, plus equivalent units in the ending work-in-process inventory, plus work needed to complete units in the beginning work-in-process inventory.

Question 8. 8. (TCO B) The contribution margin ratio always increases when the (Points : 6)
( ) break-even point increases.
( ) break-even point decreases.
( ) variable expenses as a percentage of net sales decrease.
( ) variable expenses as a percentage of net sales increase.

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

( ) number of units sold
variable expense per unit
total fixed expenses
selling price per unit

Question 10. 10. (TCO E) Under variable costing (Points : 6)
( ) net operating income will tend to move up and down in response to changes in levels of production.
( ) inventory costs will be lower than under absorption costing.
( ) net operating income will tend to vary inversely with production changes.
( ) net operating income will always be higher than under absorption costing.

Page 2

Question 1. 1. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larden Corporation for the just-completed year.
Sales $950
Purchases of raw materials $170
Direct labor $210
Manufacturing overhead $220
Administrative expenses $180
Selling expenses $140
Raw materials inventory, beginning $70
Raw materials inventory, ending $80
Work-in-process inventory, beginning $30
Work-in-process inventory, ending $20
Finished goods inventory, beginning $100
Finished goods inventory, ending $70
Required: Prepare a Schedule of Cost of Goods Manufactured statement in the text box below.
(Points : 15)

Question 2. 2. (TCO F) The Illinois 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 1 150,000 75% 55%
Work in process, Jun 30 145,000 85% 75%
The department started 475,000 units into production during the month and transferred 480,000 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. Question : (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 break-even point in dollars

Question 4. 4. (TCO E) The Dean Company produces and sells a single product. The following data refer to the year just completed:
Selling price $450

Units in beginning Inventory 0
Units produced 25,000
Units sold 22,000

Variable costs per unit:
Direct materials $ 200
Direct labor $ 50
Variable manufacturing overhead $ 30
Variable selling and admin $ 15

Fixed Costs:
Fixed manufacturing overhead $ 275,000
Fixed selling and admin $ 230,000
Assume that direct labor is a variable cost.
Required:
a. Compute the cost of a single unit of product under both the absorption costing and variable costing approaches.
b. Prepare an income statement for the year using absorption costing.
c. Prepare an income statement for the year using variable costing.
(Points : 30)

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ACCT 505 Mid terms both sets

PROJ 595 Project Risk Management Week 4 Part 1 Course Project A+ Answer

PROJ 595 Project Risk Management Week 4 Part 1 Course Project Answer

PROJ 595 Project Risk Management Week 4 Part 1 Course Project Answer

Course Project Part I
For this project, you may choose a project that is of interest to you, or you may choose to begin planning for your senior project. When selecting a project, avoid picking one that is either too big or too small. For example, do not decide to build a new stadium for your local sports team (too big) or to plant your summer garden (too small).
1. Create a risk management plan for your project. To do this, you must create a scope and a WBS for your project.
2. Perform risk management planning as defined in the lecture.
3. Identify risks for your project, including any issues that may impede or impair the completion of the project. You must identify at least 15 positive and 15 negative risks.
4. Prioritize the risks by performing qualitative risk analysis.
5. Perform risk response planning for your project by creating detailed risk response plans for those risks needing responses. This should include both proactive responses and reactive contingency plans as appropriate.
Sample Outline of Typical Course Project Paper Part I
I. Title Page
II. Table of Contents
III. Introduction
IV. Risk Management Planning
V. Risk Identification
VI. Qualitative Risk Analysis
VII. Risk Response Planning

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PROJ 595 week 4 Part 1 Course Project

MGMT 592 Leadership in the 21st Century Week 3 Skill Development Exercise Complete Answer

MGMT 592 Leadership in the 21st Century Week 3 Skill-Development Exercise Answer

1. Perform a self-assessment and set goals. List two or three of your accomplishments and set a goal. The goal can be to learn more about career opportunities in your major; to get an internship, part-time, summer, or full-time job; and so on.

2. Create your one-minute self-sell. Write it out. See page 130 for a written example.
Part 1 History:
Part 2 Plans:

Part 3. Question: Last, ask a question to encourage two-way communication. The question will vary depending on the person and your goal or the reason you are using the one-minute self-sell, for example:

3. Develop your network. List at least five people to be included in your network; preferably people who can help you achieve your goal.

4. Conduct networking interviews. To help meet your goal, select one person for a personal 20-minute interview or to interview by phone if it is difficult to meet in person. List the person and write questions to ask during the interview. This person can be a person in your college career center or a professor in your major.

5. Networking Plan

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Week 3

BSOP 330 Master Planning Week 3 Lab The president of Hill Enterprises Terri Hill Assignments A+ Answer

BSOP 330 Master Planning Week 3 Lab The president of Hill Enterprises Terri Hill Assignments A+ Answer

BSOP 330 Master Planning Week 3 Lab The president of Hill Enterprises Terri Hill Assignments A+ Answer

Chapter 13 problems 13.3:
The president of Hill Enterprises, Terri Hill, projects the firm’s aggregate demand requirements over the next 8 months as follows:
Her operations manager is considering a new plan, which begins in January with 200 units on hand. Stockout cost of lost sales is $100 per unit. Inventory holding cost is $20 per unit per month. Ignore any idle-time costs. The plan is called plan A.
Plan A: Vary the workforce level to execute a “chase” strategy by producing the quantity demanded in the prior month. The December demand and rate of production are both 1,600 units per month. The cost of hiring additional workers is $5,000 per 100 units. The cost of laying off workers is $7,500 per 100 units. Evaluate this plan.
Chapter 13 problems 13.5:
Hill is now considering plan C. Beginning inventory, stockout costs, and holding costs are provided in Problem 13.3:
a) Plan C: Keep a stable workforce by maintaining a constant production rate equal to the average requirements and allow varying inventory levels.

Chapter 13 problems 13.9:
Mary Rhodes, operations manager at Kansas Furniture, has received the following estimates of demand requirements:
July Aug. Sept. Oct. Nov. Dec.
1,000 1,200 1,400 1,800 1,800 1,600
a) Assuming stockout costs for lost sales of $100 per unit, inventory carrying costs of $25 per unit per month, and zero beginning and ending inventory, evaluate these two plans on an incremental cost basis:
• Plan A: Produce at a steady rate (equal to minimum requirements) of 1,000 units per month and subcontract additional units at a $60 per unit premium cost.
• Plan B: Vary the workforce, which performs at a current production level of 1,300 units per month. The cost of hiring additional workers is $3,000 per 100 units produced. The cost of layoffs is $6,000 per 100 units cut back.
Chapter 13 problems 13.21:
Forrester and Cohen is a small accounting firm, managed by Joseph Cohen since the retirement in December of his partner Brad Forrester. Cohen and his 3 CPAs can together bill 640 hours per month. When Cohen or another accountant bills more than 160 hours per month, he or she gets an additional “overtime” pay of $62.50 for each of the extra hours: This is above and beyond the $5,000 salary each draws during the month. (Cohen draws the same base pay as his employees.) Cohen strongly discourages any CPA from working (billing) more than 240 hours in any given month. The demand for billable hours for the firm over the next 6 months is estimated below:
Refer to the CPA firm in Problem 13.20. In planning for next year, Cohen estimates that billable hours will increase by 10% in each of the 6 months. He therefore proceeds to hire a fifth CPA. The same regular time, overtime, and outside consultant (i.e., Forrester) costs still apply.
a) Develop the new aggregate plan and compute its costs.
b) Comment on the staffing level with five accountants. Was it a good decision to hire the additional accountant?

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HRM 599 Homework Week 3 Homework Assignment Article Review II A+ Answer

HRM 599 Homework Week 3 Homework Assignment Article Review II Answer

Please find an article related to healthcare programs. To help locate your article, you can utilize the DeVry University library through THE|HUB, or you may locate the article through your own source. The article should be from a current professional source that you would read as a manager in the benefits field. It should be a source that you would feel comfortable taking forward to your employer.
Once you have located and read your article, please complete a review of the article. The article review should consist of the following.
• It should contain a summary of the article (two to three paragraphs maximum). Why was the article written about the topic at the current time? This should be completed in your own words and talk about the key points of the article. You should not repeat the article in your summary.
• How does this relate to the learning for the week in class? What laws and concepts are covered that would help you in the area of benefits? How could you further elaborate on the concepts in the article?
• Based upon the article, what recommendations would you provide to the business community (an employer) from reading the article?
The article review must be completed in the APA format and utilize proper grammar. Papers without a reference page will receive 0 points. The paper should be three to five pages in total. The article will be graded based upon the Benefits Rubric.

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HRM 599 week 3

PROJ 592 Proj Cost and Schedule Control Week 3 Quiz Answer

PROJ 592 Proj Cost and Schedule Control Week 3 Quiz Answer

PROJ 592 Proj Cost and Schedule Control Week 3 Quiz Answer

Week 3 : Project Time Management – Quiz

Question 1. 1. (TCO B) Good project cost estimations are critical to a successful project. With that in mind, compare and contrast three-point and reserve analysis estimation techniques. Please provide an example of each. (Points : 20)

Question 2. 2. (TCO A) A company intends to establish a manufacturing facility by buying an existing factory from a company in the same industry. A state-of-the art manufacturing line with supporting utilities will be established in the refurbished factory.

Securing the building will involve negotiating the purchase and refurbishing and upgrading the building structure.

Utilities that have to be upgraded and new systems installed include an upgrade of the electrical system, installation of a new compressed air system, and an increase in the capacity of the plant wastewater treatment system.

Establishing the manufacturing line will require development of production equipment specifications, procurement, and installation of machines and materials handling systems. A systems test plan will be developed concurrently with preparation of the equipment specifications. To check out the manufacturing line, a systems test of the complete line will be performed by operating it to produce product. A separate project team is handling procurement and stocking of components and materials that will be needed for the systems test of the new line, as well as when it becomes fully operational.

Prepare a WBS listing for this project with activities corresponding to a two-level task and subtask hierarchy. Format the WBS listing with activity item indents and WBS codes (such as a numbering scheme) that will clearly identify the level of each activity. Provide columns showing the WBS code and activities.
(Points : 20)

Question 3. 3. (TCO E) You are assisting on a project for your organization. An RACI has been created for your project. Your project manager has asked you to interpret the below RACI.
Project Name: New marketing campaign RACI
Activity PM IT Market Test Group Marketing Sponsor Account Manager
1.1.1 Create new layout A R R C
2.1.1 Design campaign A R
3.1.1 Test market R A
4.1.1 Roll out campaign R I A
(Points : 20)

Question 4. 4. (TCO B) You are the project manager for three projects. You are about to estimate costs for these three projects. Given the below information on each project, recommend an appropriate estimation method and justify your answer for each.

Project A: This project will be a scale-up of a project done last year. All the same processes will be used. The costs for the material and other resources should be scalable based on last year’s costs.

Project B: This project is new to your company. You do not feel confident in estimating the project costs using internal resources. There are other companies that have done this type of work. Yet you still want the most accurate estimates possible.

Project C: The work of this project has not likely been done before by anyone. You are breaking technological barriers in this project. As such, it is imperative you get accurate cost estimates. (Points : 20)

Question 5. 5. (TCO C) The SuperFlyer Corporation is developing a revolutionary flying disc. The new toy can fly straight over a great distance, which is exciting by itself. However, this disc will also return to the owner in response to his or her voice! Because this is an advance over anything that this company has done before, estimating the amount and cost of the hi-tech materials is difficult. The project manager recommends using a range estimating process to develop an estimate. The values below are submitted by the project team.

Current estimates for cost of material are as follows.
Optimistic cost of smart resin: $5.00 per lb
Most likely cost of smart resin: $6.00 per lb
Pessimistic cost of smart resin: $7.50 per lb

Current estimates for total material requirements are as follows.
Optimistic quantity 20 lb / 100 units
Most likely quantity 25 lb / 100 units
Pessimistic quantity 35 lb / 100 units

(a) What is the expected price of the material per pound?
(b) What is the expected amount of material needed for 100 units?
(c) What is the expected cost for 100 units? (Points : 20)

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PROJ 592 Course Project week 3 Quiz

MGMT 550 Managerial Communication Week 3 Comparison Report A+ Answer

MGMT 550 Managerial Communication Week 3 Comparison Report A+ Answer

MGMT 550 Managerial Communication Week 3 Comparison Report A+ Answer

Week 3 Assignment:

Comparison Report. Write a 3 to 4 page report comparing the communication strategies of the Facebook pages of two of the following companies:

•McDonald’s, Burger King
•J C Penney, Kohl’s
•Dunkin’ Donuts, Krispy Kreme Doughnuts
•Pepsi Max, Coca-Cola Zero
•Target, Wal-Mart
•Amazon, Barnes & Noble

Suggested Format:

This week you will write a compare and contrast report. Your paper should discuss each of the companies and then discuss their similarities and differences. When looking at each company’s

Facebook page, use the same criteria to evaluate each of them, which will assist with the compare and contrast evaluation. Your paper should have at least 3 to 4 pages of body text plus the title

page and reference page.

Include the following sections:

•Title Page
•Introduction
•Discuss the first company
•Discuss the second company
•Compare and contrast the two companies
•Conclusion
•References

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MGMT 550 WEEK 3

PROJ 598 Contracts and Procurement Week 3 Types of Contracts Quiz Answer

PROJ 598 Contracts and Procurement Week 3 Types of Contracts Quiz Answer

Week 3 : Types of Contracts – Quiz

Question 1. 1. (TCO B) All of the below would be considered good selection criteria for a buyer to use to select a seller, except (Points : 10)
proprietary rights of buyer, overall cost, and warrantee offered by seller.
past work done by seller, intellectual property rights, and risk associated with a given seller.
technical capability of seller, understanding of work by seller, and business type of seller.
managerial approach of seller, capacity of seller to do the work, and ability of seller to make a reasonable make-or-buy decision.

Question 2. 2. (TCO A) In industry, there are four processes one follows in the procurement area of project management. Describe and explain these four processes in the procurement management process for the buyer. (Points : 30)

Question 3. 3. (TCO C) Compare and contrast a firm fixed-price contract with a cost-plus contract. When would each be appropriate for a given project? (Points : 30)

Question 4. 4. (TCO D) Compare and contrast an RFP, an IFB, and an RFI. When would each best be used in procuring goods or services? (Points : 30)

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PROJ 598 Week 3