Warden Co plans to buy a new machine. The cost of the machin..

第1题

（b) The Superior Fitness Co （SFC), which is well established in Mayland, operates nine cen

(b) The Superior Fitness Co (SFC), which is well established in Mayland, operates nine centres. Each of SFC’s

centres is similar in size to those of HFG. SFC also provides dietary plans and fitness programmes to its clients.

The directors of HFG have decided that they wish to benchmark the performance of HFG with that of SFC.

Required:

Discuss the problems that the directors of HFG might experience in their wish to benchmark the performance

of HFG with the performance of SFC, and recommend how such problems might be successfully addressed.

(7 marks)

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第2题

Which of the following would NOT be valid grounds for a provision？

A、Aston Ltd has a policy has a policy of cleaning up any environmental contamination caused by its operations, but is not legally obliged to do so.

B、Brum Ltd is leasing an office building for which it has no further use. However, it is tied into the lease for another year.

C、Coleshill Co is closing down a division. The board has prepared detailed closure plans which have been communicated to customers and employees.

D、Dudley Co has acquired a machine which requires a major overhaul every three years. The cost of the first overhaul is reliably estimated at $120,000.

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第3题

Which of the following statements is CORRECT according to the passage？A．The Barents Sea co

Which of the following statements is CORRECT according to the passage？

A．The Barents Sea cod stock has been declining since the 1990s.

B．In North America, the cod catch is now just 10 percent of what it was two decades ago.

C．Barents Sea cod were not threatened by expanded shipping and oil exploration plans instead of by illegal catches.

D．Both Russia and Norway will reopen the potentially oil-rich sea for exploration.

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第4题

以下哪些是容器引擎（）

A.ocker

B.rkt

C.Warden

D.clipse

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第5题

BQK Co, a house－building company, plans to build 100 houses on a development site over the

BQK Co, a house-building company, plans to build 100 houses on a development site over the next four years. The purchase cost of the development site is $4,000,000, payable at the start of the first year of construction. Two types of house will be built, with annual sales of each house expected to be as follows:

BQK Co, a house－building company, plans to build 1

Houses are built in the year of sale. Each customer finances the purchase of a home by taking out a long-term personal loan from their bank. Financial information relating to each type of house is as follows:

BQK Co, a house－building company, plans to build 1

Selling prices and variable cost of construction are in current price terms, before allowing for selling price inflation of 3% per year and variable cost of construction inflation of 4·5% per year.

Fixed infrastructure costs of $1,500,000 per year in current price terms would be incurred. These would not relate to any specific house, but would be for the provision of new roads, gardens, drainage and utilities. Infrastructure cost inflation is expected to be 2% per year.

BQK Co pays profit tax one year in arrears at an annual rate of 30%. The company can claim capital allowances on the purchase cost of the development site on a straight-line basis over the four years of construction.

BQK Co has a real after-tax cost of capital of 9% per year and a nominal after-tax cost of capital of 12% per year. New investments are required by the company to have a before-tax return on capital employed (accounting rate of return) on an average investment basis of 20% per year.

Required:

(a) Calculate the net present value of the proposed investment and comment on its financial acceptability. Work to the nearest $1,000. (13 marks)

(b) Calculate the before-tax return on capital employed (accounting rate of return) of the proposed investment on an average investment basis and discuss briefly its financial acceptability. (5 marks)

(c) Discuss the effect of a substantial rise in interest rates on the financing cost of BQK Co and its customers, and on the capital investment appraisal decision-making process of BQK Co. (7 marks)

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第6题

2. （英国伦敦大学金匠学院）校长 A. President B. Warden

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第7题

The warden seems to think that the couple's accommodation is ______.A．cosyB．unpleasantC．sp

The warden seems to think that the couple's accommodation is ______.

A．cosy

B．unpleasant

C．spacious enough

D．well furnished

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第8题

以下哪些是容器引擎（)。

A.Docker

B.rkt

C.Warden

D.eclipse

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第9题

Chair Co has developed a new type of luxury car seat. The estimated labour time for the fi

rst unit is 12 hours but a learning curve of 75% is expected to apply for the first eight units produced. The cost of labour is $15 per hour. The cost of materials and other variable overheads is expected to total $230 per unit.

Chair Co plans on pricing the seat by adding a 50% mark-up to the total variable cost per seat, with the labour cost being based on the incremental time taken to produce the 8th unit.

Required:

(a) Calculate the price which Chair Co expects to charge for the new seat. Note: The learning index for a 75% learning curve is –0·415. (5 marks)

(b) The first phase of production has now been completed for the new car seat. The first unit actually took 12·5 hours to make and the total time for the first eight units was 34·3 hours, at which point the learning effect came to an end. Chair Co are planning on adjusting the price to reflect the actual time it took to complete the 8th unit.

Required:

(i) Calculate the actual rate of learning and state whether this means that the labour force actually learnt more quickly or less quickly than expected. (3 marks)

(ii) Briefly explain whether the adjusted price charged by Chair Co will be higher or lower than the price you calculated in part (a) above. You are NOT required to calculate the adjusted price. (2 marks)

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第10题

The current assets and current liabilities of CSZ Co at the end of March 2014 are as follo

ws:

The current assets and current liabilities of CSZ

For the year to end of March 2014, CSZ Co had domestic and foreign sales of $40 million, all on credit, while cost of sales was $26 million. Trade payables related to both domestic and foreign suppliers.

For the year to end of March 2015, CSZ Co has forecast that credit sales will remain at $40 million while cost of sales will fall to 60% of sales. The company expects current assets to consist of inventory and trade receivables, and current liabilities to consist of trade payables and the company’s overdraft.

CSZ Co also plans to achieve the following target working capital ratio values for the year to the end of March 2015:

The current assets and current liabilities of CSZ

Required:

(a) Calculate the working capital cycle (cash collection cycle) of CSZ Co at the end of March 2014 and discuss whether a working capital cycle should be positive or negative. (6 marks)

(b) Calculate the target quick ratio (acid test ratio) and the target ratio of sales to net working capital of CSZ Co at the end of March 2015. (5 marks)

(c) Analyse and compare the current asset and current liability positions for March 2014 and March 2015, and discuss how the working capital financing policy of CSZ Co would have changed. (8 marks)

(d) Briefly discuss THREE internal methods which could be used by CSZ Co to manage foreign currency transaction risk arising from its continuing business activities. (6 marks)

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Warden Co plans to buy a new machine. The cost of the machine, payable immediately, is $80