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Questions and Answers of Economics

Big City Carl, a local politician, is advancing a project for the construction of a new dock and pier system at the river to attract new commerce to the city. A committee appointed by the mayor (an
Two different routes, which entail driving across a mountainous section, are being considered for a highway construction project. The first route (the high road) will require building several bridges
The federal government proposes to construct a multipurpose water project to provide water for irrigation and municipal use. In addition, flood control and recreation benefits will be realized. The
The city engineer has prepared two plans for the construction and maintenance of roads in the city park. Both plans are designed to provide the anticipated road and road maintenance requirements for
The state is considering eliminating a railroad grade crossing by building an overpass. The new Structure, together with the needed land, would cost $1.8 million. The analysis period is assumed to be
An existing two-lane highway between two cities, 10 miles apart, is to be converted to a four-lane divided freeway. The average daily traffic (ADT) on the new freeway is forecast to average 20,000
The local highway department is preparing an economic analysis to see whether reconstruction of the pavement on a mountain road is justified. The number of vehicles traveling on the road increases
A section of road in the state highway system needs repair at a cost of $150,000. At present, the volume of traffic on the road is so low that few motorists would benefit from the work. However,
A 50-meter tunnel must be constructed as part of a new aqueduct system for a city. Two alternatives are being considered. One is to build a full-capacity tunnel now for $500,000. The other
The Fishery and Wildlife Agency of Ireland is considering four mutually exclusive design alternatives (Table P16-24) for a major salmon hatchery. This agency of the Irish government uses the
Six mutually exclusive investments have been identified for evaluation by means of the benefit-cost ratio method. Assume a MARR of 10%, an equal project life of 25 years for all alternatives, and the
Answer the following questions.(a) Use the conventional B/C ratio to evaluate the alternatives and make a recommendation.(b) Use the modified B/C ratio to evaluate the alternatives and make a
Each of the following 10 independent projects has a 10 years life and no salvage value.The projects have been proposed by the staff of the Ace Card Company. The MARR of Ace has been 12% for several
At Miami Products, four project proposals (three with mutually exclusive alternatives) are being considered. All the alternatives have a 10-year useful life and no salvage value.(a) Use rate of
AI Dale is planning his Christmas shopping for seven people. To quantify how much his various relatives would enjoy receiving items from a list of prospective gifts AI has assigned appropriateness
The following facts are to be used in solving Problems 17-4 through 17.7 in assembling data for the Peabody Company annual capital budget five independent projects are being considered. Detailed
For an unlimited supply of money, and replacement Assumption 1, which project alternatives should Peabody select? Solve the problem by present worth methods. (Answer: Alternatives 1B, 2A, 3F, 4A, and
For an unlimited supply of money, and replacementAssumption2, which project alternatives should Peabody select? Solve the problem by rate of return methods. (Hint: By careful inspection of the
A1. Sell the land for $500,000. ·A2. Lease the property for a car-washing business. An annual income, after all costs (property taxes, etc.) of $98,700 would be received at the end of each year for
The property (building and land) probably can be sold for $3 million at the end of 20 years. Project B: An insurance company is seeking to borrow money for 90 days at 13 3/4%per annum, compounded
The Raleigh Soap Company has been offered a 5-year contract to manufacture and package a leading brand of soap for Taker Bros. It is understood that the contract will not be extended past the 5 years
The contract offered by Taker Bros. is a favorable one, which Raleigh Soap plans to accept. Raleigh management has set a 15% before-tax minimum attractive rate of return as the criterion for any of
Mike Moore's microbrewery is considering production of a new ale called Mike's Honey Harvest Brew. To produce this new offering he is considering two independent projects. Each of these projects has
Why is it important for engineers and managers to understand accounting principles? Name a few ways that they can do so?
Explain the accounting function within a firm. What does this function do, and why is it important? What types of data does it provide?
Develop short definitions for the following terms: balance sheet, income statement, and fundamental accounting equation.
Explain the difference between short-term and long term liabilities.
List the two primary general accounting statements. What is each used for and how do they differ? Which cost important?
What is the advantage of comparing financial statements across periods or against industry benchmarks rather than in looking at statements associated with a single date or period?
If a firm has a current ratio less than 2.0 and an acid-test ratio less than 1.0, will the company eventually go bankrupt and out of business? Explain your answer.
Calculate the equity of the Gravel Construction Company if it has $1 million worth of assets? Gravel has $127,000 in current liabilities and $210,000in long term liabilities.
Scar Mack’s Paint Company has annual sales of $500,000 per year. If there is a profit of $1000 per day, 6 days per week operation, what is the total yearly business expense? All calculations are on
Mama L's Baby Monitor Company has current assets of $5 million and current liabilities of $2 million. Give the company's working capital and current ratio.
From the following data, taken from the balance sheet of Petey's Widget Factory, determine the working capital, current ratio, and acid-test ratio.
The general ledger of the Fly-Buy-Nite (FBN) Engineering Company contained the following account balances (partial listing) at the end of June, 2004. Construct an income statement. What is the net
For Gee-Whiz Devices calculate the following: working capital, current ratio, and acid-test ratio.Gee-Whiz Devices Balance Sheet DataCash
For Evergreen Environmental Engineering (EEE), determine the working capital, current ratio, and acidtest ratio. Evaluate the company's economic situation with respect to its ability to payoff
For Magdalen Industries, compute the net income before taxes and net profit (or loss). Taxes for the year were $1 million. Calculate the interest coverage and net profit ratio. Is the interest
Turbo Start (Problem 18-17) has current assets totaling $1.5 million (this includes $500,000 in current inventory) and current liabilities totaling $50,000. Find the current ratio and acid-test
For J&W Graphics Supply, compute the current ratio. Is this a financially healthy company? Explain.J&W Graphics SupplyBalance Sheet Data (thousands)Assets
For Sutton Manufacturing, determine the current ratio and the acid-test ratio. Are these values acceptable? Why or why not?Sutton Manufacturing Balance Sheet Data (Thousands)Assets
For Andrew's Electronic Instruments, calculate the interest coverage and net profit ratio. Is Andrew's business healthy?Income Statement for Andrew's Electronics for End of Year2004
LeGaroutte Industries makes industrial pipe manufacturing equipment. Use direct-labor hours as the burden vehicle, and compute the total cost per unit for each model given in the table. Total
Par Golf Equipment Company produces two types of golf bag: the standard and deluxe models. The total indirect cost to be allocated to the two bags is $35,000. Determine the net revenue that Par Golf
RLW-II Enterprises estimated that indirect manufacturing costs for the year would be $60 million and that 12,000 machine-hours would be used.(a) Compute the predetermined indirect cost application
Categorize each of the following costs as direct or indirect. Assume that a traditional costing system is in place.
Machine run costs Cost to market the
Solve diagrams (a)-(c) for the unknowns R, S, and T, assuming a 10% interest rate.
For diagrams (a)-(d), compute the unknown values: B, C, V, x, respectively, using the minimum number of compound interest factors.
For diagrams (a)-(d), compute the unknown values C, A, F, A, respectively.
For diagrams (a)-(d), compute the unknown values W, X, Y, Z, respectively.
Compute the value of P in the diagram.
Use a 10% interest rate to compute the value of X in the diagram.
Use a 15% interest rate to compute the value of P in the diagram.
If i = 12%, what is the value of B in the diagram?
Compute the value of n for the diagram, assuming a 10% interest rate.
What is the value of n, for this diagram, based on a 31/2% interest rate?
Compute the value of J for the diagram, assuming a 10% interest rat
Compute the value of C for the diagram, assuming a 10% interest rate.
If i = 12%, compute G in the diagram.
Compute the value of D in the diagram.
Compute E for the diagram.
Using a 10% interest rate, compute B in the diagram.
Find the value of P for the following cash flow diagram.
The following cash flow transactions are said to be equivalent in terms of economic desirability at an interest rate of 12% compounded annually. Determine the unknown value A.
Upon the birth of his first child, Dick Jones decided to establish a savings account to partly pay for his son's education. He plans to deposit $20 per month in the account, beginning when the boy is
Mary Lavor plans to save money at her bank for use in December. She will deposit $30 a month, beginning on March 1and continuing through November 1. She will withdraw all the money on December 1. If
Derive an equation to find the end of year future sum F that is equivalent to a series of n beginning-of-year payments B at interest rate i. Then use the equation to determine the future sum F
If $200 is deposited in a savings account at the beginning of each of 15 years, and the account draws interest at 7% per year, how much will be in the account at the end of 15 years?
A company deposits $2000 in a bank at the end of every year for 10 years. The company makes no deposits during the subsequent 5 years. If ~e bank pays 8% interest, how much would be in the account at
How much must be deposited now at 5.25% interest to produce $300 at the end of ~very year for 10 years?
Using linear interpolation, determine the value of (P / A, 61/2%,10) from the compound interest tables. Compute this same value using the equation. Why do the values differ?
A student wants to have $30,000 at graduation 4 years from now to buy a new car. His grandfather gave him $10,000 as a high school graduation present. How much must the student speech year if he
A city engineer knows that she will need $25 million in 3 years to' replace toll booths on a toll road in the city. Traffic on the road is estimated to be 20 million vehicles per year. How much per
A man wants to help provide a college education for his young daughter. He can afford to invest $600/yr for the next 4 years, beginning on the girl's fourth birthday. He wishes to give his daughter
How many months will it take to payoff a $525 debt, with monthly payments of $15 at the end of each month, if the interest rate is 18%, compounded monthly?
For how many months, at an interest rate of 1% per month, does money have to be invested before it will double in value?
A bank recently announced an "instant cash" plan for holders of its bank credit cards. A cardholder may receive cash from the bank up to a preset limit (about $500). There is a special charge of 4%
A man borrowed $500 from a bank on October 15th. He must repay the loan in 16 equal monthly payments, due on the 15th of each month, beginning November 15th. If interest is computed at 1% per month,
In Table 3-1 in the text, four plans were presented for the repayment of $5000 in 5 years with interest at 8%. Still another way to repay the $5000 would be to make four annual end-of-year payments
An engineer borrowed $3000 from the bank, payable in six equal end-of-year payments at 8%. The bank agreed to reduce the interest on the loan if interest rates declined in the United States before
A $ 150 bicycle was purchase don December 1with a $15 down payment the balance is to be paid at the rate of $10 at the end of each month, with the first payment due on December 31. The last payment
A company buys a machine for $12,000, which it agrees to pay for in five equal annual payments, beginning one year after the date of purchase, at an interest rate of 4% per annum. Immediately after
An engineering student bought a car at a local used car lot. Including tax and insurance, the total price was $3000. He is to pay for the car in 12 equal monthly payments, beginning with the first
A realtor sold a house on August 31, 1997, for $150,000 to a buyer in which a 20% down payment was made. The buyer took a 15-year mortgage on the property with an effective interest rate of 8% per
To provide for a college education for his daughter, a man opened an escrow account in which equal deposits were made. The first deposit was made on January 1, 1981, and the last deposit was made on
Develop a complete amortization table for a loan of $4500, to be paid back in 24 uniform monthly installments, based on an interest rate of 6%. The amortization table must include the following
Using the loan and payment plan developed in Problem 4-40 determine the month that the final payment is due, and the amount of the final payment, if $500 is paid for payment 8 and $280 is paid for
A couple borrowed $80,000 at 7% to purchase a house. The loan is to be repaid in equal monthly payments over a 30-year period. The first payment is paid exactly at the end of the first month.
Jim Duggan made an investment of $10,000 in a savings account 10 years ago. This account paid interest of 51/2% for the first 4 years and 61/2% interest for the remaining 6 years. The interest
Consider the cash flow:Year Cash Flowo -$1001
Consider the following cash flow:Year Cash Flow0 -$P1
It is estimated that the maintenance cost on a new car will be $40 the first year. Each subsequent year, this cost is expected to increase by $10. How much would you need to set aside when you bought
A young engineer wishes to become a millionaire by the time he is 60 years old. He believes that by careful investment he can obtain a 15% rate of return. He plans to add a uniform sum of money to
The council members of a small town have decided that the earth levee that protects .the town from a nearby river should be rebuilt and strengthened. The town engineer estimates that the cost of the
A company expects to install smog control equipment on the exhaust of a gasoline engine. The local smog control district has agreed to pay to the firm a lump sum of money to provide for the first
A debt of $5000 can be repaid, with interest at 8%, by the following payments.Year Payment1 $ 5002
A man is purchasing a small garden tractor. There will be no maintenance cost during the first 2 years because the tractor is sold with 2 years free maintenance. For the third year, the maintenance
Mark Johnson saves a fixed percentage of his salary at the end of each year. This year he saved $1500. For the next 5 years, he expects his salary to increase at an 8% annual rate, and he plans to
The Macintosh Company has an employee savings plan that allows every employee to invest up to 5% of his or her annual salary. The money is invested in company common stock with the company

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