Blog

Question 5 – 8 Points Smart Intel Corporation is a computer technology company located in the Northwest Region of the United States with its principal office located in Seattle, Washington.   Smart Intel assist businesses in the Northeast with their technology needs and building out the businesses computer hardware, software, and cloud technology needs.   In 2022, Smart Intel hired Chris Cote as its new chief technology officer.  Chris Cote’s job responsibilities included developing the companies plan for growth, overseeing the companies technology offerings and services, and overall ensuring that the company was providing the type of goods and services that the companies clients would demand.  Chris Cote’s annual salary was $450,000.  At his annual review in 2023, Smart Intel indicated that Chris Cote would be paid a substantial bonus as part of his performance and was asked, at that time, to sign a restrictive covenant agreement – also referred to as a non-competition agreement in the employment context. After reviewing the agreement, Chris Cote signed the agreement, which provided in part the following:  Employee [Chris Cote] agree that for valid consideration including your salary and your bonus structure, that for a period of 12 months after you leave the employment of Smart Intel  or after you are terminated for cause, that you will not work as a chief technology officer, technology consultant, advisor, or employee or independent contractor for any company operating in the Northeast region of the United States (Washington, Oregon, and Northern California) for any company that is engaged in the provision of technology services and products for business customers.  You [Chris Cote] agree that this provision is fair given our access to Smart Intel ’s financial information, oversight over the future of the company, and access to customers. In early 2025, Chris Cote decided to move jobs.   He was approached by West by West Technolgy about coming to work with them as a technology advisor and consultant.  West by West is a direct competitor with Smart Intel.  Chris Cote is considering leaving Smart Intel  to go work with West by West.   Chris Cote approaches you, his friend, and asks for your opinion as to whether his agreement with Smart Intel would prohibit him from working for West by West.  REQUIRED (8 Points): You conclude that Chris Cote’s agreement with Smart Intel would prohibit and restrict him from immediately taking the job with West by West.  In separately lettered or numbered paragraphs discuss the reasons why you have concluded that Chris Cote’s non-compete is enforceable.

EXTRA CREDIT: Miller’s Quarter Horse Company has sales of $4,500,000. It also has invested assets of $2,500,000 and operating expenses of $3,800,000. The company has established a minimum return of 7%. Round percentages and investment turnover to one decimal place. a. What is Miller’s profit margin? b. What is the investment turnover? c. What is the rate of return on investment? d. What is Miller’s residual income?

Materials used by Square Yard Products Inc. in producing Division 3’s product are currently purchased from outside suppliers at a cost of $5.00 per unit. However, the same materials are available from Division 6. Division 6 has unused capacity and can produce the materials needed by Division 3 at a variable cost of $3.00 per unit. A transfer price of $3.20 per unit is established, and 40,000 units of material are transferred, with no reduction in Division 6’s current sales. ​Square Yard Products Inc.’s total operating income will increase by

EXTRA CREDIT: Compute the standard cost for one pair of boots, based on the following standards for each pair of boots:   Standard materials quantity: 1.25 yards of leather at $35.00 per yard Standard labor: 9 hours at $25.75 per hour Factory overhead: $1.75 per direct labor hour

Jarrett Company is considering a cash outlay of $300,000 for the purchase of land, which it could lease for $36,000 per year. If alternative investments are available that yield a 9% return, the opportunity cost of the purchase of the land is

EXTRA CREDIT: Peppy Portraits specializes in pet photography and has both franchised and company-operated studios. Profit margin and investment turnover for both segments are as follows:   ​ ​ Profit Margin InvestmentTurnover ​ Company-operated studios 70% 0.50 ​ Franchised studios 40% 2.25 ​ ​ ​ Peppy Portraits is expanding. Based on the return on investment (ROI), would you advise a new location to be a company-operated or franchised studio? ​  

EXTRA CREDIT: Standard and actual costs for direct labor for the manufacture of 300 units of product were as follows:   Actual costs 125 hours at $54 Standard costs 131 hours at $53 ​ Determine the direct labor (a) time variance, (b) rate variance, and (c) total cost variance.

Mallard Corporation uses the product cost method of product pricing. Below is cost information for the production and sale of 45,000 units of its sole product. Mallard desires a profit equal to a 12% return on invested assets of $800,000. Fixed factory overhead cost $82,000 Fixed selling and administrative costs 45,000 Variable direct materials cost per unit 5.50 Variable direct labor cost per unit 7.65 Variable factory overhead cost per unit 2.25 Variable selling and administrative cost per unit 0.90 ​The markup percentage on product cost for the company’s product is

User defined objects are created using the class keyword

In Python, a class is ___________ for a concrete object.