Chapter 2 Flashcards

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business

Positive spillover effects from self-managed work teams. To improve quality, productivity, and timeliness, many American industries employ self-managed work teams (SMWTs). Because SMWTs require that employees be trained in interpersonal skills, they can have potential positive spillover effects on a worker's family life. The link between SMWT work characteristics and workers' perceptions of positive spillover into family life was investigated in the Quality Management Journal (Summer 1995). Survey data were collected from 114 AT&T employees who work in SMWTs at an AT&T technical division. The workers were divided into two groups: (1) those who reported positive spillover of work skills to family life and (2) those who did not report positive work spillover. The two groups were compared on a variety of job and demographic characteristics, one of which was the use of creative ideas (measured on a 7-point scale, where the larger the number, the more of the characteristic indicated). The data (simulated from summary information provided in the Quality Management Journal article) are saved in the file. One comparison of interest to the researchers is whether the mean creative use of ideas scale score for employees who report positive spillover of work skills to family life differs from the mean scale score for employees who did not report positive work spillover. Give the null and alternative hypotheses that will allow the researchers to make the comparison.

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sociology

Create a diagram to contrast reasons for inequality, as viewed trough perspectives of functionalism, conflict theory, and symbolic interactionism.

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economics

The product-process matrix is a convenient way of characterizing the relationship between product volumes (one-of-a-kind to continuous) and the processing system employed by a firm at a particular location. Characterize the nature of the intersection between the type of shop (column) and process dimension (row) in the following table.

\begin{array}{llcc} &\text{Workcenter} &\text{Assembly Line}\\ \hline \text {Engineering emphasis}\\ \text {General workforce skill}\\ \text {Facility layout}\\ \text {WIP inventory level}\\ \hline \end{array}

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accounting

Palermo Inc. purchased 80 percent of the outstanding stock of Salina Ranching Company, located in Australia, on January 1, 20X3. The purchase price in Australian dollars (A$) was A$200,000, and A$40,000 of the differential was allocated to plant and equipment, which is amortized over a 10-year period. The remainder of the differential was attributable to a patent. Palermo Inc. amortizes the patent over 10 years. Salina Ranching's trial balance on December 31, 20X3, in Australian dollars is as follows:$

\begin{array}{lrr} & \textbf{Debits} & \textbf{Credits}\\ \\ \text{Cash} & \text{A\$\hspace{5pt}44,100}\\ \text{Accounts Receivable (net)} &72,000\\ \text{Inventory} & 86,000\\ \text{Plant \& Equipment} & 240,000\\ \text{Accumulated Depreciation} && \text{A\$\hspace{5pt}60,000}\\ \text{Accounts Payable} && 53,800\\ \text{Payable to Palermo Inc.} && 10,800\\ \text{Interest Payable} &&3,000\\ \text{12\\\% Bonds Payable} &&100,000\\ \text{Premium on Bonds} &&5,700\\ \text{Common Stock} && 90,000\\ \text{Retained Earnings} &&40,000\\ \text{Sales} && 579,000\\ \text{Cost of Goods Sold} &330,000\\ \text{Depreciation Expense} & 24,000\\ \text{Operating Expenses} & 131,500\\ \text{Interest Expense} & 5,700\\ \text{Dividends Paid} &9,000\\ \hline \text{Total} & \underline{\underline{\text{A\$942,300}}} & \underline{\underline{\text{A\$942,300}}}\\ \end{array}

**Additional Information** 1. Salina Ranching uses average cost for cost of goods sold. Inventory increased by A\$20,000 during the year. Purchases were made uniformly during 20X3. The ending inventory was acquired at the average exchange rate for the year. 2. Plant and equipment were acquired as follows:

\begin{array}{lr} \textbf{Date} & \textbf{ Cost } \\ \\ \text{January 20X1} & \text{A\$180,000} \\ \text{January 1, 20X3} & 60,000 \\ \end{array}

$3. Plant and equipment are depreciated using the straight-line method and a 10-year life with no residual value.

The payable to Palermo is in Australian dollars. Palermo's books show a receivable from Salina Ranching of$6,480.
The 10-year bonds were issued on July 1, 20X3, for A$106,000. The premium is amortized on a straight-line basis. The interest is paid on April 1 and October 1.
The dividends were declared and paid on April 1.
Exchange rates were as follows:

\begin{array}{lr} & \textbf{A\$ \hspace{10pt} \$} \\ \text{January 20X1} & 1 = 0.93\\ \text{August 20X1} & 1 = 0.88\\ \text{January 1, 20X3} & 1 = 0.70\\ \text{April 1, 20X3} & 1 = 0.67\\ \text{July 1, 20X3} & 1 = 0.64\\ \text{December 31, 20X3} & 1 = 0.60\\ \text{20X3 average} & 1 = 0.65\\ \end{array}

Required

Assume the U.S. dollar is the functional currency. Prepare a schedule providing a proof of the remeasurement gain or loss. The subsidiary's net monetary liability position on January 1, 20X3, was A$80,000.

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