MHR 523- Final Exam Guide - Comprehensive Notes for the exam ( 41 pages long!)

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skymole41

29 Mar 2018

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Job analysis process by which info about jobs is systematically gathered and organized: job descriptions and job specifications. Uses: human resources planning, recruitment and selection, job evaluation, performance appraisal, labour relations, training, development and career management, job design. Competency-based job analysis job analysis that focuses on competencies: competencies: demonstrate characteristics that enable performance of a job. E. g. general (reading, writing, math), leadership (strategic thinking), technical competencies for specific jobs. Essential job duties should be clearly identified (e. g. for a pilot you need. Only criteria examined should be knowledge, skills and abilities required for the essential duties of the job: employment standards and health and safety. For entry-level (or very physical jobs), identify actual physical and mental demands (e. g. lifting boxes around 20 pounds) Involves organizing tasks in a way to motivate employees whenever possible e. g. mcdonalds rebranded by making their workers rotate between jobs (working window, drive thru, fries, lobby, etc. ) Industrial engineering (doing things over and over again)

Related Questions

NIKE:

Need the following ratios to be calculated using the financial sheets copied at the bottom. Each ratio needs to be calculated using the information from 2016. Each ratio also needs to be broken down and illustrated by the step by step process. Finally, please include any and all observations for each ratio and analysis.

1) Common Size analysis

2) Common size vertical analysis & graph

3) Current Ratio

4) Quick Ratio

5) Cash Ratio

6) Inventory Turnover

7) Receivables Turnover

8) Total Asset Turnover

9) Fixed Asset Turnover

10) Gross profit margin

11) Operating Profit margin

12) Net profit margin

13) Return on total assets

14) return on equity

15) basic earning power

16) Deb/net worth ratio

17) debt ratio

18) DuPont System

19) Times-interest-earned

Balance Sheet:

Consolidated Balance Sheets - USD ($) $ in Millions	May 31, 2017	May 31, 2016
Current assets:
Cash and equivalents	$ 3,808	$ 3,138
Short-term investments	2,371	2,319
Accounts receivable, net	3,677	3,241
Inventories	5,055	4,838
Prepaid expenses and other current assets	1,150	1,489
Total current assets	16,061	15,025
Property, plant and equipment, net	3,989	3,520
Identifiable intangible assets, net	283	281
Goodwill	139	131
Deferred income taxes and other assets	2,787	2,422
TOTAL ASSETS	23,259	21,379
Current liabilities:
Current portion of long-term debt	6	44
Notes payable	325	1
Accounts payable	2,048	2,191
Accrued liabilities	3,011	3,037
Income taxes payable	84	85
Total current liabilities	5,474	5,358
Long-term debt	3,471	1,993
Deferred income taxes and other liabilities	1,907	1,770
Commitments and contingencies
Redeemable preferred stock	0	0
Shareholdersâ equity:
Capital in excess of stated value	8,638	7,786
Accumulated other comprehensive (loss) income	(213)	318
Retained earnings	3,979	4,151
Total shareholdersâ equity	12,407	12,258
TOTAL LIABILITIES AND SHAREHOLDERSâ EQUITY	23,259	21,379
Class A Convertible Common Stock
Shareholdersâ equity:
Common stock at stated value	0	0
Class B Common Stock
Shareholdersâ equity:
Common stock at stated value	$ 3	$ 3

Income Statement:

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Millions	May 31, 2017	May 31, 2016	May 31, 2015
Income Statement [Abstract]
Revenues	$ 34,350	$ 32,376	$ 30,601
Cost of sales	19,038	17,405	16,534
Gross profit	15,312	14,971	14,067
Demand creation expense	3,341	3,278	3,213
Operating overhead expense	7,222	7,191	6,679
Total selling and administrative expense	10,563	10,469	9,892
Interest expense (income), net	59	19	28
Other (income) expense, net	(196)	(140)	(58)
Income before income taxes	4,886	4,623	4,205
Income tax expense	646	863	932
NET INCOME	$ 4,240	$ 3,760	$ 3,273
Earnings per common share:
Basic (in dollars per share)	$ 2.56	$ 2.21	$ 1.90
Diluted (in dollars per share)	2.51	2.16	1.85
Dividends declared per common share (in dollars per share)	$ 0.70	$ 0.62	$ 0.54

Cash Flow Sheet

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	May 31, 2017	May 31, 2016	May 31, 2015
Cash provided by operations:
Net income	$ 4,240	$ 3,760	$ 3,273
Income charges (credits) not affecting cash:
Depreciation	706	649	606
Deferred income taxes	(273)	(80)	(113)
Stock-based compensation	215	236	191
Amortization and other	10	13	43
Net foreign currency adjustments	(117)	98	424
Changes in certain working capital components and other assets and liabilities:
(Increase) decrease in accounts receivable	(426)	60	(216)
(Increase) in inventories	(231)	(590)	(621)
(Increase) in prepaid expenses and other current assets	(120)	(161)	(144)
(Decrease) increase in accounts payable, accrued liabilities and income taxes payable	(364)	(889)	1,237
Cash provided by operations	3,640	3,096	4,680
Cash used by investing activities:
Purchases of short-term investments	(5,928)	(5,367)	(4,936)
Maturities of short-term investments	3,623	2,924	3,655
Sales of short-term investments	2,423	2,386	2,216
Investments in reverse repurchase agreements	0	150	(150)
Additions to property, plant and equipment	(1,105)	(1,143)	(963)
Disposals of property, plant and equipment	13	10	3
Other investing activities	(34)	6	0
Cash used by investing activities	(1,008)	(1,034)	(175)
Cash used by financing activities:
Net proceeds from long-term debt issuance	1,482	981	0
Long-term debt payments, including current portion	(44)	(106)	(7)
Increase (decrease) in notes payable	327	(67)	(63)
Payments on capital lease and other financing obligations	(17)	(7)	(19)
Proceeds from exercise of stock options and other stock issuances	489	507	514
Excess tax benefits from share-based payment arrangements	177	281	218
Repurchase of common stock	(3,223)	(3,238)	(2,534)
Dividends â common and preferred	(1,133)	(1,022)	(899)
Cash used by financing activities	(1,942)	(2,671)	(2,790)
Effect of exchange rate changes on cash and equivalents	(20)	(105)	(83)
Net increase (decrease) in cash and equivalents	670	(714)	1,632
Cash and equivalents, beginning of year	3,138	3,852	2,220
CASH AND EQUIVALENTS, END OF YEAR	3,808	3,138	3,852
Cash paid during the year for:
Interest, net of capitalized interest	98	70	53
Income taxes	703	748	1,262
Non-cash additions to property, plant and equipment	266	252	206
Dividends declared and not paid	$ 300	$ 271	$ 240

Governmental Budgeting and Accounting

This mini-case covers a number of the major concepts that wehave covered in class this semester. Specifically, the examrequires you to perform a break-even analysis with a weightedaverage contribution margin, prepare a quarterly operating budget,and consider a capital investment using the net present valuetechnique. The answers are cumulative. You cannot skip anysection and do the next.

You may make whatever assumptions you think are necessary toanswer any question. If needed, be sure to state every assumptionexplicitly. Turn in your answers in this Word document along withthe supporting calculations in Excel spreadsheets.

All of the information that you need to answer a given questionis provided in the text that immediately precedes the question andthe answers to the questions that precede it. Read the entireproblem set before you begin. Make sure you understand thequestions before answering them!

Santa Fe Museum of Southwestern Art

The Santa Fe Museum of Southwestern Art (SFMSA) presentsrotating exhibits of the works of artists and artisans from theSouthwestern United States. Historically, the museum has derivedits support from three sources: grants, annual memberships, andvisitor revenues. For the 2017 fiscal year, SFMSA knows that itwill receive $495,000 in grants from various sources. It alsoexpects 1,375 people to be supporting members of the museum. Onaverage, supporting members give SFMSA $105.75 per year. You canthink of the support from grants and memberships as Fixed Revenues.The museum expects the following mix of visitors during 2017, eachpaying the amount shown in the right column of the schedule.

Type of Visitor	Percent of Total	Price
Regular	60%	$6.00
Group	18%	$3.00
Senior Citizen	12%	$2.00
Student	10%	$1.00

SFMSA has $965,000 of fixed expenses each year. In addition, themuseum spends an average of $0.62 per visitor for handouts thatdescribe the exhibits on display. SFMSA estimates that it hasvariable electric costs of $0.10 per visitor. Plus, the museumoffers each visitor the option of receiving an audio recordingwhich describes the featured exhibit of the month. Visitors areallowed to keep the recording as a memento of their visit.Historically, these recordings have cost the museum $1.30 per copyto produce and replicate. On average, 25% of the people visitingthe museum have taken advantage of the free audio recordingoffer.

Problem 1. The Directorof the museum has asked you to tell her the minimum number of totalvisitors that must come to the museum each year in order for SFMSAto break even. Using the information given above, what is SFMSAâsbreak-even visitor volume? (40 points)

Because of Santa Feâs location in themountains of New Mexico, the museum tends to have a seasonalpattern to its visitor flow with proportionally more peoplevisiting SFMSA in the summer than in the winter. In addition,revenue from grants and memberships tend to flow into the museumunevenly throughout the year. The seasonal flow of visitor, grantsand membership revenues is distributed throughout the year asfollows:

P11.1021 Summer Session - Replacement Assignment Number5

	Quarter 1	Quarter 2	Quarter 3	Quarter 4
Visitors	20%	25%	40%	15%
Membership Revenue	40%	20%	20%	20%
Grant revenue	25%	50%	10%	15%

Weighted Average Price per ticket = (Weight of Regularvisitor in total tickets sold x Price of ticket) + (Weight of Groupvisitors in total tickets sold x Price of ticket) + (Weight ofSenior Citizen visitor in total tickets sold x Price of ticket) +(Weight of Student visitor in total tickets sold x Price ofticket)

=> (0.6 x $6) + (0.18 x $3) + (0.12 x $2) + (0.10 x$1) = $4.48 per ticket

Variable cost per visitor = Cost of handouts + variableelectric costs + (Cost of audio recording x 25%)

=> $0.62 + $0.10 + ($1.30 x 25%) =$1.045

Contribution per ticket = Selling Price â Variable cost=> $4.48 - $1.045 = $3.435

Total Fixed Cost = $965,000
Fixed Revenues = Grant + Membership Revenue => $495,000 +($105.75 x 1,375) = $640,406.25

Remaining Fixed cost = $965,000 - $640,406.25 =$324,593.75

Break-even point = Fixed cost / Contribution perticket

=> $324,593.75 / $3.435 = 94,495.99 or94,496

So, total 94,496 tickets with stated percentage ofvisitor type are required to break-even.

Fixed expenses are distributed evenly throughout the year i.e.25% per quarter. The museumâs marketing director forecasts that82,000 people will visit the museum during fiscal year 2017.

SFMSAâs Director of Marketing has convinced the ExecutiveDirector that a museum shop can be operated profitably in a smallspace just off the main entrance. She agrees and the shop isscheduled to open on April 1, 2017, the first day of the secondquarter. The Marketing Director estimates that 5% of the people whovisit the museum will make purchases from the shop. Based on hisexperience, he expects the average purchase to be $50. SFMSAâsBusiness Manager estimates that the cost-of-goods-sold will be 75%of the museum-shopâs sales revenue. The shop will be staffed byvolunteers at no cost to SFMSA.

Problem 2. Using theinformation above, prepare a properly formatted operating budgetfor SFMSA for each of the four quarters in fiscal year 2017 andsummarize the budget for the full year. (45 points)

SFMSA has just been approached by the Curator of SpecialExhibits at the Smithsonian Museum. The Smithsonian has offered tolend SFMSA a rare collection of nineteenth century Navajo crafts.The collection would remain at the museum for a five-year periodafter which it would be returned to the Navajo nation. To house theexhibit, SFMSA will have to upgrade its environmental and securitysystems at a one-time cost of $300,000. This is the only cashoutflow associated with the decision.

Since this may be the last time that this collection will beexhibited in its entirety, the Executive Director is enthusiasticabout the impact that it will have on visitor volume and thereputation of the museum. The Marketing Director forecasts that 900incremental visitors are likely to be drawn to the museum eachmonth that the exhibit is at SFMSA.

The director wants you to tell her if the exhibit is financiallyself-sufficient or if she will need to get a grant to support it.You know that SFMSAâs cost of capital is 8%. You also know themarginal contribution generated by each incremental visitor to themuseum from your work on the break-even analysis. Do not count onany gift shop purchases from the incremental visitors.

Problem 3. What do youtell her? Can SFMSA afford to show the exhibit based solely on themarginal contribution from incremental visitors? If the exhibit isnot financially self-sufficient, how large a grant will SFMSA needto get to meet the projected shortfall? Support your recommendationand present your findings in a way that the director willunderstand. (40 points)

I have answered problem 1, the answer is in bold. I need helpanswering problem 2 and 3.

carmineox474

please help me with this lab.

Ethanol Production

(Thermal Energy Conservation)

Lab Objective

Through this lab exercise, the principle of conservation of charge will be demonstrated using an adopted problem-solving methodology and a simple Matlab exercise.

Materials

Matlab 2007 or higher

Lab Assignment

Introduction

GASBUGS INC. is actually a division of a much larger alternate, fuel-generating corporation known as BIOFUELS INTERNATIONAL. One thing this company produces is ethanol (C₂H₆O) from an industrial process that uses a type of yeast (Saccharomyces cerevisiae). The elemental formula of S. cerevisiae is CH_1.83 O_0.56 N_0.17 and it has a heat of combustion of approximately -21.2 kJ/g. In their batch process, .25lb_mNH₃ and 5.0lb_m glucose are combined with the yeast at 25^oC. After the reaction goes to completion (at least one of the starting reactants is used up), 1. 4 lb_m of ethanol is produced. The unbalanced reaction for this process is:

C₂H₆O (s) + NH₃ (g) â C₃H₈O₃ (l) + C₂H₆O (l) + CH_1.83 O_0.56 N_{0.17 +} CO₂(g) + H₂O (l)

Note: 1 mol of glucose produces .5 mole glycerol (C₃H₈O₃₎ and that the ration of NH₃ to H₂O is 1:1.

You are told that it is likely that too much glucose is being added in the batch reactor process. It is your goal as the production engineering support specialist working for BIOFUELS INTERNATIONAL to model this scenario to determine how much unnecessary glucose is being added to reduce waste and cost.

Procedure

Follow the 4 steps of methodology for solving problems on pp. 44â46 of your textbook to set up the model.

Using MATLAB, create a plot that demonstrates the impact on ethanol production as the amount of glucose in the reactor varies from 1.0 lb_m to 10 lb_m.

Questions

How much excess glucose was being added to the reactor?

What is the ideal amount needed?

How much heat was produced and subsequently removed from the system?

Interpret the Matlab plot produced.

1.8 Methodology for Solving Engineering Problems. page 44-46. four steps.

Developing a pattern or methodology for solving engineering problems is important for consistency and thoroughness. The application of accounting and/conservation equations (discussed in Chapters 2â6) should be carried out in an organized manner; this makes the solution easy to follow, check, and be used by others. As a new engineer, you may find going through these many steps tedious and excessive for seemingly simple problems. However, when the level of difficulty increases, having a method or process to fall back on will be invaluable. Experienced engineers use most of the steps below when solving real-world problems.

The methodology laid out here or one similar to it should be used to solve problems throughout your career. The method outlined below is a general guide of the steps that will be followed to solve problems in Chapters 3â6 of this book, and as in real-world problems, only steps applicable to the problem should be performed. Other methodologies for solving problems are also valid; the critical issue is that you develop a thorough method and implement it regularly. As you mature as an engineer, it is appropriate that you develop your own problem-solving method.

1. Assemble. Information regarding the problem, including a picture, should be assembled and rewritten.

(a) The objective of the problem or the answer that you are seeking to findshould be clearly stated. This is often written as: Find: the flow rate ...

(b) Draw a diagram showing all relevant information. Often a simple box diagram showing all components entering and leaving the system allows information to be summarized in a convenient way. The system, surroundings, and system boundary should be drawn and labeled. When possible, all known quantitative information should be shown on the diagram.

(c) Set up a calculation table. The known values on your diagram, the components entering and leaving the system, form the foundation for the table. Units should be consistent across the table. The unknown components on the table (blanks) are often the desired answers. As you solve for different components, you can fill in the table. (Developing a table is optional, although useful, especially in multicomponent mass balance problems)

2. Analyze. A framework for understanding what is known and what is not known is developed at this stage.

(a) State any assumptions applied to the problem. Biological systems are extremely complex, since many processes and reactions, as well as transport of materials, are often going on simultaneously. Knowing when and where to make assumptions to simplify the system to a few salient features is the mark of an outstanding engineer. An example of an assumption is that the human forearm can be modeled as a cylinder.

(b) Collect and state any extra data. In this step, you may need to research information about a component in your system that was not given in the problem definition. An example of extra data that you may need to look up is the viscosity of plasma.

(c) List the variables and notations (symbols) adapted for the problem, and select a set of units for the problem. Typically, a choice is made to use either metric or British units throughout the problem.

[Note: The notations for variables may vary from discipline to discipline, but standard variables that are inherently understood within a subject do not always need to be listed. For example, kinetic energy is defined as EKin physics, but as T in mechanics. If you are calculating data that will be shared with coworkers of the same discipline, it is not necessary to define standard variables. Rather, variables specific to an aspect of the problem need to be defined (e.g., Fs = force of the astronaut on a chair).]

(d) State a basis of calculation. A basis is a specified input or output to a system (usually given as a flow rate or amount). In some problem statements, the basis is given. In other problems, values of components are given relative to one another and not as absolute amounts or rates. Select a basis if one is not given. Mass (Chapter 3) and energy (Chapter 4) problems often need a basis.

(e) If the problem involves chemical reaction(s), list the compounds involved and stoichiometrically balance the equation(s).

3. Calculate. Equations are developed and solved in a logical manner.

(a) Write down all appropriate accounting and/or conservation equations.Writing down the governing equations and then simplifying them by analyzing the system to eliminate unnecessary terms can be a helpful tool in solving engineering problems. For example, if asking the question, âIs this system at steady-state?â results in a positive response, the governing equation may be simplified by making the Accumulation term equal zero. This concept will be discussed further in Chapter 2. Write down any other essential equations needed to solve the problem.

(b) By applying the appropriate equations, calculate the unknown quantities. This is the heart of solving the problem and may require extensive effort. In some cases, the calculation of unknown quantities can be done sequentially. In other cases, it may be best to solve a series of equations using MATLAB or other computer software.

[Note: For a multi-unit or complex mass and energy conservation problems, a strategy to solve the problem may be required. A degree-of-freedom analysis is a systematic method to demonstrate whether a problem can be solved with the stated information and can help determine the sequence in which the equations should be solved. This process is discussed in chemical engineering textbooks (e.g., Reklaitis, Introduction to Material and Energy Balances, 1983).]

4. Finalize. Correct answers to the problem statement are stated clearly.

(a) State the answers clearly with appropriate significant figures and units. Confirm that you answered the specific questions asked by the problem

Laboratory Report Cover Sheet
DeVry University
College of Engineering and Information Sciences

Course Number: ECET301

Professor:

Laboratory Number: 3

Laboratory Title: Ethanol Production

Submittal Date: Click here to enter a date.

Write a brief technical lab report summarizing the technical facts learned from this lab. The report should be organized to provide the following:

Section 1âIntroduction: An introductory/summary paragraph describing the type of conservation principle being analyzed and the key elements that will be discussed relating to this principle.

Section 2âModel: The documented model using the standard problem-solving methodology in section 1.8 of your text.

Section 3âPlot: Matlab plot with script to generate.

Section 4âDiscussion: A section describing the most important characteristics shown, or demonstrate via the modeled and collected data. Also include a practical example of how the information learned in this assignment might help you in a job setting in the real world.

Section 5âConcluding Remarks: A summary statement listing the most positive aspects of the assignment and any difficulties encountered.

MHR 523- Final Exam Guide - Comprehensive Notes for the exam ( 41 pages long!)

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