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For your third paper in this class, write a synthesis responding to the following prompt:
The readings for this unit have discussed the attitudes and opinions of millennials in the United States around the issues of relationships, marriage, and family. In your papers, discuss the major issues to be considered when evaluating millennials’ attitudes around these topics, and relate them to your own thinking about these issues.
You can draw from all sources to provide a nuanced view of the topics, or you can align yourself with one subtopic from the available texts. Either way, your commentary and analysis needs to be supported with examples from at least five texts.
Your audience is professors/students in a 4-year university; assume they have not read the texts.
4-5 pages, double-spaced, 12-point Times New Roman font, one-inch margins, MLA or APA style.
Successful papers will:
- Include an effective introduction that gives a general overview of the topic for the reader.
- Include a claim that explains your attitude towards the issues surrounding millennials and their attitudes about relationships, marriage, and/or families.
- Be organized around the issues that the texts explore considering millennials and their thoughts.
- Include effective body paragraphs that clearly state each issue and provide information about them with evidence from the texts.
- Respond to how you, personally, either align with or do not agree with the attitudes of millennials in regards to the main topics discussed. Also, do you think members of this generation in other countries either align with or deviate from American millennials?
- Include a conclusion that restates the main points to consider when determining the thoughts and feelings of millennials in regards to family and marriage. Explain the importance of the issue; why is it significant? Who can benefit from this knowledge? Why is it useful to know about where this generation is in terms of their thoughts and attitudes about their futures?
“Gallup Analysis: Millennials, Marriage, and Family” – gallup.com
“Gen Y is from Mercury” – course reader
“Millennials seeking fulfillment in work instead of faith or family” – The Washington Times
“The Beta Marriage: How Millennials Approach ‘I Do’” – Time Magazine
“15% of American Adults have used online dating sites or mobile dating apps” – pewinternet.org
“Gay Marriages Road to Popularity in 5 Charts” – The Washington Post
“Behind the Rapid Shift in Public Opinion on Same-sex Marriage” – deseratnews.com
“The Millennial Generation Becomes Parents” – millenialmarketing.com
“Millennials in adulthood” – persocialtrends.org
Click here to download the selected financial statements for Micro Chip Computer Corporation. Answer questions 1 and 2 below based on the financial data.
- Determine the year-to-year percentage annual growth in total net sales.
- Based only on your answers to question #1, do you think the company achieved its sales goal of +10% annual revenue growth in 2009? Determine the target revenue figure, and explain why you do or do not feel that the company hit its target.
Next, consider Micro Chip’s Consolidated Statement of Operations for the year ended September 25, 2008. Download the file here and answer questions 1 and 2.
- Use the Percentage Sales Method and a 25% increase in sales to forecast Micro Chip’s Consolidated Statement of Operations for the period of September 26, 2008 through September 25, 2009. Assume a 15% tax rate and restructuring costs of 5% of the new sales figure.
- Discuss your results from question number #1. What assumptions have you made? Do any of your assumptions seem unreasonable?
To receive full credit on this assignment, please show all work, including formulae and calculations used to arrive at the financial values. Students using Microsoft Excel must provide an adequate explanation of the methodology used to arrive at that answer.
- Download the financial statements and consolidated statement of operations by clicking on the links above in the assignment description.
- Analyze the statements and then answer the four questions listed in the assignment description.
- Show all work including calculations and formulas. If applicable, provide a detailed explanation of how you used Microsoft Excel to arrive at your answers.
- Organize your answers, mathematical calculations, and Microsoft Excel data into a Word document of 1–2 pages.
Your submitted assignment (120 points) must include the following:
- A double-spaced Word document of 1–2 pages that contains your answers to the four questions listed in the assignment description, any calculations you performed, and all formulae that were used. Also, provide your Excel data table(s) along with an explanation of how you arrived at your answers if applicable.
You will be graded on the accuracy of your financial calculations as well as your demonstrated understanding of financial statement analysis.
The following is a Comprehensive Budgeting Problem. You and your team need to prepare a partial Master Budget and then continue on to analyze your data. This is an Excel based project where you will create formula driven worksheets.
Required: Prepare the following elements of the master budget. Additional information needed to prepare the budgets follows below.Use the examples in your textbook as a guide.
- Sales budget
- Budgeted cash receipts
- Production budget
- Raw materials budget
- Budgeted cash payments for raw material
- Direct labor budget.
- Manufacturing overhead budget
- Cost of goods sold budget
- Selling and administrative expense budget
- Cash budget
- Budgeted Income Statement
You must use Excel; and in particular use formulas and linked cells. You are to create an input page that will house ALL your data. Your input page should be the only tab where you actually manually input data. You are to create a separate tab for each required budget. Use cell references to transfer amounts from the input tab to the other respective tabs. You must ensure that your budgets print properly and have a professional appearance.
You must also include a written document where you discuss each budget’s results.
Friar Company is preparing budgets for the 2nd quarter, ( April, May & June) which ends on June 30. Make sure you include a “Total Q2” column.
- Budgeted sales of the company’s only product for the next five months are:
|April ………||2,400 units|
|May ………..||4,000 units|
|June ………..||3,500 units|
|July ………..||3,000 units|
|August ……||1,600 units|
- The selling price is $50 per unit.
- All sales are on account.
- The company collects 80% of these credit sales in the month of the sale; 15% are collected in the month following sale; and the remaining 5% are uncollectible.
- The accounts receivable balance on March 31 was $22,500. All of this balance was collectible.
- The company desires to have inventory on hand at the end of each month equal to 25% of the following month’s budgeted unit sales.
- On March 31, 600 units were on hand.
- 5 pounds of material are required per unit of product.
- Management desires to have materials on hand at the end of each month equal to 10% of the following month’s production needs.
- The beginning materials inventory was 1,400 pounds.
- The material costs $0.25 per pound.
- For June: 2,650 units to be produced in July
- 60% of a month’s raw material purchases are paid for in the month of purchase; the other 40% is paid for in the following month.
- The accounts payable balance on March 31 was $10,000.
- Each unit produced requires 0.75 hour of direct labor time.
- Each hour of direct labor time costs the company $10.
- Variable manufacturing overhead is $15 per direct labor hour.
- Fixed manufacturing overhead is $35,000 per month. This includes $15,000 in depreciation, which is not a cash outflow.
- Manufacturing overhead is applied to units of product on the basis of direct labor hours.
- Variable selling and administrative expenses are $0.30 per unit sold.
- Fixed selling and administrative expenses are $40,000 per month and include $8,000 in depreciation.
- A line of credit is available at a local bank that allows the company to borrow up to $50,000.
o All borrowing occurs at the beginning of the month, and all repayments occur at the end of the month.
o The interest rate is 1.5% per month.
o The company does not have to make any payments until the end of the quarter but they are allowed to
- Friar Company desires a cash balance of at least $50,000 at the end of each month. The cash balance at the beginning of April was $60,000.
- Cash dividends of $40,000 are to be paid to stockholders in April.
- Equipment purchases of $30,000 are scheduled for June. This equipment will be installed and tested during the second quarter and will not become operational until July, when depreciation charges will commence.
After the end of the second quarter, Friar Company wants to evaluate their performance. In preparing their budgeted income statement, Friar Company used the following formulas to determine their budgeted operating income:
Cost of Goods Sold $30.448Q
Selling & Administrative Expenses $0.30Q + $120,000
Interest Expense $1,301
During the quarter, Friar Company planned for 9,900 unit sales, but actually sold 10,000 units. The company reported the following actual results for the quarter ended on June 30 th :
Cost of Goods Sold $302,500
Gross Margin $205,000
Selling and Administrative Expenses $125,000
Net Operating Income $80,000
Interest Expense $1,500
Net Income $78,500
Required: Prepare the company’s flexible budget performance report for the second quarter. Label each variance as favorable (F) or unfavorable (U). You are to create your performance report also in Excel, as a separate tab. Include any relative data on your input page and continue to use cell referencing.
You must also include a discussion of your performance report within your written document.