1. In addition to the cost of food products and food service employees, what other expenses will Technomar incur by providing free meals to its employees?
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Jennifer Caratini has recently accepted the job as the foodservice director for Technomar Industries, a corporation with 1,000 employees. As their foodservice director, Jennifer's role is to operate a company cafeteria, serving 800 to 900 meals per day, as well as an executive dining room, serving 100 to 200 meals per day. All of the meals are provided "free of charge" to the employees of Technomar. One of Jennifer's first job is to prepare a budget for next year's operations.
1. In addition to the cost of food products and food service employees, what other expenses will Technomar incur by providing free meals to its employees?
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- A medical supply company has customers in eight cities. It is trying to decide how many salespeople it needs to service these customers. Each salesperson needs to be located in one of the eight cities and needs to be assigned to a subset of the customers. For example, the company might base a salesperson in New York and have this person service customers in New York, Boston, and Philadelphia. Each salesperson receives an annual salary of $70,000 and can work as many as 230 days per year. This includes days working with customers and days traveling to and from customers. The file P06_90.xlsx contains data on the annual travel costs (for example, $15,900 for a salesperson based in New York traveling for customers in Orlando), the annual number of days of work required for the customers, and the annual number of days traveling to and from customers. Find an assignment that minimizes the total cost of salaries and traveling. The solution should indicatethe number of salespeople to employ,…Free Wheels has a plant that assembles bicycles. The plant currently has a small cafeteria for the workers but the kitchen equipment is in need of a substantial overhaul. Free Wheels has been offered a contract by Beasteats to supply food to the workers. The particulars of the situation are shown in the table. Should Free Wheels continue with the in-house food services or contract the services to Beasteats? (Hint: Create a table with the columns for year (for 0-8 years), In-house current cost, contract current cost, in-house PW, and contract PW). Food Service: In-House Versus Contract Food service labour (hours/year) Wage rate (real, time 1, $/hour) Overhead cost (real, time 1, S/year) Kitchen equipment first cost (current, time 0, S) Contract cost, years 1 to 3 (current S) Contract cost, years 4 to 6 (current S) Current dollar MARR Expected annual inflation rate Study period (years) 6000 15 18 000 25 000 55 000 63 700 22% 5% 6Prepare a 1-2 page double spaced memo to the company president, David Morgan (a former top salesperson with no accounting education), recommending the best choice in the following scenario: You have recently been hired as the controller for Sit-Anywhere, a manufacturer of benches used in public parks. The company produces three models with their customizable stainless-steel benches being their fastest growing product. While the company is moderately profitable, its overhead has been growing faster than its sales which has you concermed. The company prices all three products at a 50% margin and has historically allocated fixed costs based on direct labor hours. The figures produced for the last quarter by the previous controller are as follows: Standard Standard Custom Wood Steel Stainless Total Sales $ 500,000 $ 1,000,000 $ 1,000,000 $ 2,500,000 Variable Costs 250,000 500,000 250,000 500,000 500,000 500,000 1,250,000 1,250,000 Cont. Margin Fixed Costs: DLH 10,000 20,000 20,000 50,000…
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- Mary Jones and Jack Smart have joined forces to start M&J Food Products, a processor of packaged shredded lettuce for institutional use. Jack has years of food processing experience, and Mary has extensive commercial food preparation experience. The process will consist of opening crates of lettuce and then sorting, washing, slicing, preserving, and finally packaging the prepared lettuce. Together, with help from vendors, they think they can adequately estimate demand, fixed costs, revenues, and variable cost per 5-pound bag of lettuce. They think a largely manual process will have monthly fixed cost of $50,000 and a variable cost of $2.50 per bag. They expect to sell 75,000 bags of lettuce per month. They expect to sell the shredded lettuce for $3.25 per 5-pound bag. Jack and Mary has been contacted by a vendor to consider a more mechanized process. This new process will have monthly fixed cost of $125,000 per month with a variable cost of $1.75 per bag. Based on the above…Caribbean Hotel Services (CHS) is a small company specialising in services to the hotelindustry. The company was just purchased, and the new owner was amazed to learn that therewas no retirement plan for CHS workers. The new owner would like to provide adequateretirement benefits for workers and reward long-time service. The workforce consists of fourteen(14) skilled hotel housekeepers, each of whom is over age 50 and has been with the company forover twenty-five years; two (2) customer service representatives ages 40 and 55; three bellhopsages 35, 27, and 38; and a night auditor aged 54. a.Distinguish between defined benefits and defined contribution pension schemesb. Definitive position as to which plan should be adopted and why c. Disclosure requirements in the financial statementsWho would be the stakeholders concerned in the case study?
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