The Problem Of Student Loan Debt - 1271 Words

Today, there’s an issue that has been weighing college students down. The problem is student loan debt. This is the highest of all debt, passing up auto loans and credit card debt. There is approximately $1 trillion in student loans in America and the number is growing every year. It has been said that most of the student’s in debt were dropouts and graduate students, but now has broadened to students still working on their degree. Is getting a degree worth the financial burden? The biggest question asked about student loans is, â€Å"How did it get this bad?† It started back in October 1957 when the satellite, Sputnik, went up. After that, students worried that they might not be as intelligent to go up against Russian rocket scientists. So, President Eisenhower made a low-interest college loan program through the National Defense Education Act of 1958. The money for the loan came straight from the government. Years went on, and in 1965 Lyndon Johnson’s legislation â€Å"war on poverty†, came into play. The student loans increased due to the president’s Great Society initiatives. Due to the increase in college students, the Higher Education Act expanded. Loans and grants were made to help students who really needed it. Also, something else made a change. Instead of the government financing the loans, bankers were now responsible. It was also said that if students defaulted, the government would cover the tab. The lawmakers supported the idea because outstanding loansShow MoreRelatedThe Problem Of Student Loan Debt940 Words   |  4 Pageswithout the burden of student loan debt piling up as you get further into college. Even though financial aid is available for students seeking college education, some of those students will not all qualify for financial aid. With them not being able to qualify, it leaves taking out student loans to afford those college expenses. By them having no other option but to take out student loans, it is the start to a long road of student loan debt issues. Majority of student loans today are through theRead MoreThe Problem Of Rising Student Loan Debt1495 Words   |  6 PagesAs a mother of four, a large number of the social problems described in the text can and does directly relate to myself, as well as, my family especially regarding the matter of education. However, the problem directly affecting my family and I is the emerging social problem of rising student loan debt. Student loan debt is a problem that has begun to seep into the very mainstream of society as more and more individuals attend college, especially those with great financial needs. Personally, I amRead MoreStudent Loan Debt And Why It Is A Problem Essay1507 Words   |  7 Pages Student Loan Debt and why it is a Problem Student loan debt affects college students all over the United States. Today students are having to take out loans in order to pay for all of their college expenses. It can be a pain to deal with the hassle of paying back the loans. The problems with student loans include causing students to go into debt that they are not able to pay them off in the given time which makes them put major life decisions on hold, and the debt stay with the student evenRead MoreStudent Loan Debt Has Become A National Problem With No Solution2311 Words   |  10 PagesIntroduction: According to CNN, â€Å"Almost 19% of student loan borrowers owe more than $50,000.Only 6% of borrowers had that much in 2001.† (Gillispe, 1). Why has student loan debt increased so much? Student Loan debt has become a national problem with no solution. Many students are borrowing more money to keep up with the rising cost of tuition in universities, leaving themselves with thousands of debt after graduation. Students after gaining this debt, have to find jobs to support it which can comeRead MoreThe Student Loan Debt Crisis1247 Words   |  5 Pages The Student Loan Debt Crisis Student loan debt has overtime become an unpleasant part of life for millions of Americans and especially borrowers. It is possible to identify the types of people who went through college and borrowed financial loans from those that went through college and did not go to college or those that went but did not borrow. The debt crisis directly affects the families of the borrowers, those with high debt burdens and advanced degrees. Despite the increased length in loanRead MoreStudent Loan Debt Is Not Worth Going Into1335 Words   |  6 Pagesdecade student loan debt has risen substantially and is now one of the largest form of personal debt in America, totaling about one trillion dollars, with 71 percent of students who earn a bachelors degree graduating with debt, with the average amount of debt being $29,400. This topic has become a very important issue, with some people saying that student loans could be the next bubble and could do what the real estate bubble did to the U.S economy in 2007 and 2009. If student loans are becomingRead MoreEssay on Student Loan Debt Should be Forgiven1256 Words   |  6 PagesDoes the amount of student loan debt have an effect on the economy? If so would forgiving student loan debt help lower the national debt or would it just increase it? According to Mary Claire Fischer, a writer for Kiplinger’s Personal Finance magazine, â€Å"two-thirds of students who receive bachelor’s degrees leave college with an average debt of twenty-six thousand dollars† (Fischer). This means that the average student debt has doubled since 2007 (Ross 24). The total student loan debt is $1.2 trillionRead MoreThe Cultural And Global Impact Of College Tuition And Student Loan Debt1442 Words   |  6 PagesThe Cultural and Global Impact of College Tuition and Student Loan Debt Introduction College debt is quickly rising as more students pursue a postsecondary education. Tuition is growing at a rate higher than inflation, thus forcing many students to make up the gap between income and tuition through loans (Houle). However, cultural factors must be considered before a young adult makes a decision about higher education. The type of postsecondary education one pursues, if any, is determined by manyRead MoreStudent Lo Samaritan Or Satan?1545 Words   |  7 Pages11/18/2015 WA#3 3rd Draft Student Loan: Samaritan or Satan? â€Å"Die Luft der Freiheit weht† is Stanford’s motto, which means â€Å"The wind of freedom blows.† However, selective universities are not â€Å"free† like Stanford University’s motto and even less â€Å"free† when students graduate. College students pay a huge amount of tuition every year, and yet not every college graduate can find a satisfying job. Many college students choose to take out student loans. Student loans give many students chances to go to collegeRead MoreForgiving Student Loan Debt Essay examples822 Words   |  4 Pagesamount of student loan debt have an effect on the economy? If so would forgiving student loan debt help lower the national debt or would it just increase it? According to Mary Claire Fischer, a writer for Kiplinger’s Personal Finance magazine, â€Å"two-thirds of students who receive bachelor’s degrees leave college with debt in tow† (Fischer). Among these students, the average amount o wed is twenty-six thousand dollars (Fischer). There is a six month grace period after graduation to allow the student time

Broken Dreams and Fallen Themes the Corruption of the...

Broken Dreams and Fallen Themes In The Great Gatsby, Fitzgerald employs the use of characters, themes, and symbolism to convey the idea of the American Dream and its corruption through the aspects of wealth, family, and status. In regards to wealth and success, Fitzgerald makes clear the growing corruption of the American Dream by using Gatsby himself as a symbol for the corrupted dream throughout the text. In addition, when portraying the family the characters in Great Gatsby are used to expose the corruption growing in the family system present in the novel. Finally, the American longing for status as a citizen is gravely overshot when Gatsby surrounds his life with walls of lies in order to fulfill his desires for an impure dream.†¦show more content†¦In his essay Money, Love, and Aspiration, Roger Lewis discusses the means by which Gatsby amasses his wealth and poisons his dream. Gatsbys money does not smell right- however explicitly tacitly condoned by the denizens of Gatsbys world illegal and shifty means (bootlegging, stolen securities) have been used to make that wealth. Gatsby does not see that the corruption at the base of his fortune in effect compromises his vision of life with Daisy Obviously, Gatsby builds the foundations of his dream upon a structure of crime and deceit thus negating any nobility his dream once had. Throughout the book Gatsby continually throws outlandish parties where scores of people, whether invited or not, attend and revel in his hospitality; he later reveals his purpose in throwing these overly grandiose festivals, when Nick and he are talking after a party which Daisy has just attended. She didnt like it {Gatsby} said immediately...She didnt have a good time (Fitzgerald 116) fully expresses that his entire life at West Egg has been spent in pursuit of a woman who could never possibly fulfill his dream. The 1999 Gatsby project discussed the portrayal of wealth in The Great Gatsby by talking about Gatsbys car as a symbol. The automobile is a major motif that makes a regular appearance in the story. The automobile has always been a kind of status symbol in the United States. Expensive cars are associatedShow MoreRelated Corruption of the American Dream in the Great Gatsby by F. Scott Fitzgerald1438 Words   |  6 Pages Broken Dreams and Fallen Themes In The Great Gatsby, Fitzgerald employs the use of characters, themes, and symbolism to convey the idea of the American Dream and its corruption through the aspects of wealth, family, and status. In regards to wealth and success, Fitzgerald makes clear the growing corruption of the American Dream by using Gatsby himself as a symbol for the corrupted dream throughout the text. In addition, when portraying the family the characters in Great Gatsby are used to exposeRead MoreThe Complex Themes Hidden in The Great Gatsby by F. Scott Fitzgerald1697 Words   |  7 PagesIntroduction â€Å"The great Gatsby† is an inspiring novel written by the famous American author Scott Fitzgerald. The novel was published in 1925. It is regarded as Scott’s supreme achievement and also as a masterwork in American literature, and it’s entirely justified. Its theme is far more complex than a simple love story. It tells about the corruption of the American dream, the broken promise of â€Å"equality for all† and the fact that you can’t be â€Å"whatever you want†. Read MoreTheme Of Morality In The Great Gatsby1541 Words   |  7 Pagesa moral discourse, statement or lesson. In this novel, The Great Gatsby many of the characters could not be classified as truly moral people who exhibit goodness or correctness in their character and behavior. Tom, Daisy, and George all come to mind as the characters that have done the most moral damage throughout the novel. In the end, these individuals show characteristics of moral degradation in society because they cause corruption and lies, which is why they are responsible for the destruction

The Effects Of Having A Narcissistic Personality - 1195 Words

the constructed policies. A key component to understanding how a given member of the organization will interpret policies is to understand the individual’s level of willingness for cooperation within the organization. In a study conducted by Moller, Crocker, and Bushman (2009) the effects of having a narcissistic personality along with having an inflated sense of entitlement were investigated to determine if these traits will lead an individual to pursue self-interest goals and if these factors will cause greater interpersonal conflict. The research was divided into two studies involving participants comprised of undergraduate college students from diverse ethnic backgrounds. The first study consisted of questionnaires assessing self-image goals versus compassionate goals in two parts. The questionnaires confirmed the hypothesis that when an individual has high levels of self-entitlement that person will pursue goals to inflate self-image. The second study was a ten-week long longitudinal study of weekly surveys that measured self-image goals and compassionate goals over time. The results showed that people with entitled personalities can expect to have interpersonal conflicts arise. Overall the results showed that people who are narcissistic and have high levels of personal entitlement will engage in actions that damage interpersonal relationships (Moller, et al. (2010). The limitations of relying on correlations and self-reporting during the questionnaires shouldShow MoreRelatedThe Difference Between Confidence And Narcissistic Personality Disorder1448 Words   |  6 Pagesa thin line to keep in mind when figuring out the difference between confidence and narcissistic personality disorder. Society likes to assume that if a person is confident in who they are, it should produce a well rounded person, but when does too much confidence become a problem? According to Dictionary.com, confidence is the belief in one’s abilities, power, and se lf; on the other hand, narcissistic personality disorder, also known as NPD, is a psychological disorder in which a person has an unrealisticRead MoreNarcissistic Personality Disorder Essay1575 Words   |  7 Pageshave narcissistic personality disorder. This personality disorder is defined as, â€Å"...a broad pattern of grandiosity, need for admiration, and lack of empathy† (Comer, 2010, p. 531). People with narcissistic personality disorder are convinced of their own greatness; whether it be their success, artistic skill, or beauty. They also require the constant attention and admiration of the people around them. But, this is not all that is involved in this disorder. People with narcissistic personality disorderRead MoreNarcissistic Personality Disorder : Understanding Symptoms, Causes, Diagnosis, And Treatment1178 Words   |  5 PagesRunning head: UNDERSTANDING NARCISSISTIC PERSONALITY DISORDER ETIOLOGY Narcissistic Personality Disorder: Understanding Symptoms, Causes, Diagnosis, and Treatment of Narcissistic Personality Disorder Griffin Hedger College Narcissistic Personality Disorder: Understanding Symptoms, Causes, Diagnosis, and Treatment of Narcissistic Personality Disorder Symptoms of Narcissistic Personality Disorder To those who have a narcissistic personality disorder, they may come across as arrogant,Read MoreNarcissistic Disorder : Effects And Treatments1485 Words   |  6 PagesNarcissistic Disorder:Effects and Treatments Sean T. Lee Cheyney University Introduction This paper is an attempt to shed some light on Narcissistic Personality Disorder. Many people who have this disorder are not usually aware that they have it. People who have a narcissistic personality can have many problems arise in their relationships, on their jobs, and at school. Narcissistic personality disorder is a rare case here in the US, with less than 200,000 reported cases a year. It might be becauseRead MoreSocial Media And Its Impact On Society Essay1549 Words   |  7 Pagescommunication medium developed, allowing for the free flow of information across boundaries, in real-time. Some popular Social Media platforms used today are Facebook, Instagram, Twitter and Snapchat, to name a few. It has been argued that these websites, having become the mainstream form of communication amongst especially ‘millennials’ are on the verge of replacing traditional personal interactions for the next generation. The writer has engaged the Social Media websites mentioned in various forms and hasRead MoreTodays Teenager Spends Nearly Nine Hours A Day Absorbing1247 Words   |  5 Pagesviewpoints. Narcissistic personality disorders have emerged as technology has improved leading to the absorption of teens time. The use of social media has led to an increase in cyberbullying affecting teens mental progress. From the effects of these social media networks, teens are becoming more depressed and in particular, Facebook depression has become a new disease. Social media is the leading cause of many mental health issues for teenagers in ways that can cause narcissistic personality disorderRead MoreSocial Media And Its Effects On Society Essay1603 Words   |  7 PagesPERSONALITIES OF CYBERBULLIES BY CYNTHIA HUANG Introduction Deeply ingrained into the world, the concept of personality serves as the basis for all human interaction, and in this case, cyberbullying. With the explosion of social media and internet related activities, there has been a sudden increase in cyberbullying cases. Over the years, cyberbullying—which has often been linked â€Å"to harassing text messages, rumors spread online or through social media websites, and derogatory comments about someoneRead MoreThe Underlying Truth About Living1663 Words   |  7 PagesThe underlying truth about living in a world of many personalities. The uniqueness about what makes a person who they are, has been a common belief that their personality began developing the moment one is born. Dr. Catherine Monk, a researcher at Columbia University, comments â€Å"research indicates that even before birth, mothers’ mood may affect child development.†According to Larson and Buss, most psychological mechanisms have three essential in gredients: inputs, decision rules and outputs.†AlthoughRead MoreNarcissism And The Recent Advent Of A 1 Question Scale1056 Words   |  5 Pagesas highly narcissistic. From Wikipedia: â€Å"Narcissistic Personality Disorder (NPD) is a personality disorder in which a person is excessively preoccupied with personal adequacy, power, prestige and vanity, mentally unable to see the destructive damage they are causing to themselves and to others in the process.† I have heard a psychiatrist convey that a particfular family members actions fit very well with such a definition. Being that narcissism can be such a complex aspect of personality I found itRead MorePsychiatric Disorders in The Kite Runner1408 Words   |  6 Pagesconsequences of this invasion created a harsh environment for the children and adults of Afghanistan. This environment created the development of mental disorders in Amir, Assef, and Sohrab throughout the novel. By examining the mental disorders such as Narcissistic disorder in Assef, the antisocial disorder in Amir and the adjustment disorder in Sohrab, it will be shown how the events in Afghanistan contribute to these characters mental problems. A diagnosis is the act of discovering or identifying the exact

The Great Depression The Crash, Burn, And Reparation Of...

Daniella Jules Professor R. Ascher ECO2013 2 February 2017 The Great Depression: The Crash, Burn, and Reparation of the American Economy Imagine that you received a huge bonus from your occupation that compensates almost $50,000 a year. You go to your bank to cash your paycheck, only to have the bank clerk disclose that they do not have your money. The financial institution went belly up, losing all the money within it because of external sources. This paper discusses the reason behind the Great Depression and distinct policies generated to mend the American financial system that began when the stock market crashed October 29, 1929. Per the U.S. Stock Market Crash of 1929, there was â€Å"no indication of impending economic doom† until the†¦show more content†¦To put it another way President Hoover’s political style only benefited the nation to an extent. I pledge you, I pledge myself, to a new deal for the American people† is what Franklin Roosevelt stated in his presidential campaign against President Hoover (Library of Congress 2017). He promised to the American people what they wanted to hear: hope in hard times. Unsurprisingly, in November 1932, Franklin Delano Roosevelt won the presidential election over Herbert Hoover by a landslide, receiving 22.8 million popular votes to Hoover’s 15.75 million (PBS 2017). President Roosevelt’s election is significant because it was a turning point for the nation during the Great Depression. Unlike Hoover, President Roosevelt was more liberal and politically focused on practices that would restructure the American government. President Roosevelt emphasizes this ideal by stating, â€Å"So first of all, let me assert my firm belief that the only thing we have to fear is†¦fear itself. Nameless, unreasoning, unjustified terror which paralyzes needed effort to convert retr eat into advance (AE Television Networks 2017).† He even proves this idea through the New Deal Programs produced, which not only was a combination of banking reform laws, emergency relief programs, work relief programs, and agricultural programs; but also, union protection programs and programs to service tenant farmers and migrant workers (Library of CongressShow MoreRelatedThe Treaty Of Versailles, By Georges Clemenceau, And Woodrow Wilson1098 Words   |  5 Pages1933 and 1945 of more than six million Jews. It occurred because of anti-Semitism, and its intention was to eliminate the â€Å"inferior race.† â€Å"Neighboring Poland - The First Target: ‘All Poles will disappear from the world.... It is essential that the great German people should consider it as its major task to destroy all Poles’† (Himmler 1). This quote from Himmler states that all people of Polish descent should be obliterated, including Jehovah’s Witnesses, the Gypsies/Ro mas, mentally ill, physicallyRead MorePolitical Factors That Influenced People Into Voting Nazi1676 Words   |  7 Pagesperiod after the great depression where certain right-wing parties dominated indoctrinating their fascist and nationalistic ideals on the German people. The rise of fascism in Germany 1919 – 1939, not only resulted in hardship but also in prosperity for some Germans. The topics that will be addressed and discussed further throughout the course of this essay include; the political factors that influenced people into voting Nazi, the economic factors that caused a fluctuating economy during this timeRead MoreDid World War II Make World War III Impossible?1030 Words   |  5 PagesNuclear World War III. Did World War II make World War III impossible, impractical, or inevitable? The mistakes made from World War I were well-defined in the Treaty of Versailles when this â€Å"peace pact† required Germany to pay billions in war reparations that ultimately drove Germany into economic shambles, creating the perfect conditions for Hitler to rise and take over with his totalitarian regime. The treaty of Versailles reduced the Germany army to 100,000 men and allotted Saarland, an industrialRead More The Holocaust and the Cultivation of Bigotry and Hate Essay4506 Words   |  19 Pagesanti-Semite and Jew hater. Even though Hitler still had a few Jewish friends, the messages from Lueger began to sink in. In World War 1, Hitler volunteered his services to Germany, claiming a sense of pride and belonging to the German army. He was not a great solider, but Hitler was stoic, loyal, and courageous. After the war he became increasingly anti-Semitic, which won the attention of his superiors. The Rise of the Nazi party   Ã‚  Ã‚  Ã‚  Ã‚  At the end of 1919, the German army had Hitler, now age 30, andRead MoreEssay on The History of Hitler and the Nazi Regime4399 Words   |  18 PagesAustrian empire which he had started to hate, and, in part, to avoid required military service. At this time, it was 1914, and World War I had broken out. Hitler found a sense of pride and belonging in the German army during The War. He was not a great soldier, but was stoic, and was awarded with the Iron cross at the end of the war. After the war, Hitler became increasingly anti-Semitic, which won the attention of his superiors (Gilber 37). At the end of 1919, the German army had Hitler, now ageRead MoreModern History.Hsc.2012 Essay25799 Words   |  104 Pageslike istory had turned a corner and never going back * stock market * black Thursday November 24 1929 * the jazz age * a speakeasyyyyyyy How significant were the Republican policies in causing the great depression? The significance of the republic policies were great, they brought a lot of growth in the 20’s allowing the market to strive over lots of trading and the purchase of shares, but was also an unstable market, as the government had no control over what it did and was left

A Story from My Memory The Clash Free Essays

Memories†¦ past events that tell the history of a person; this makes him or her unique from other people. Memories, if I think about it, I guess I do not have much of that. It is just the way it is for me. We will write a custom essay sample on A Story from My Memory: The Clash or any similar topic only for you Order Now It is like my memories are easily removed from my mind so that not much of my history is left. However, despite this, there was this one night a long time ago that I would never forget. I believe it was in the year 1992, though my mind tells me that it is not sure whether it really was. Do you know the feeling of knowing the period in your life when an event happened, yet, at the same time, you are not sure of the time details? I think this is a great example for that. Somewhere in my brain, there is sureness that the event happened during my 5th or 6th year of life. The setting was Saudi Arabia, my homeland, and it was before the beginning of the Desert Storm. Just like every other siblings, my sister and I love staying up late. During that night we planned to stay up all night to chit-chat and play. We planned to do the stuff   normal girls enjoy. The night was beautiful and ideal for that. Children would have loved to enjoy that night, of course, without knowing the following events to happen. There were clear skies. As we lay in bed, there was a sudden flash of light coming from the window. It was really bright! The first thing that came into my mind was to know the source of the light. Without further thinking, I went out to see what that was, and there came what seemed to be the source†¦ it was an explosion. I saw a big explosion in the mid-air. My mind went haywire. As young as I was back then, I may say that I was really vulnerable and fragile. For a moment, I could not move and I was shocked at the huge explosion right in front of my eyes. Now that I think of it, I would surely say that it was no laughing matter, and it was completely nothing like what my sister and I had intended to do that night. The explosion that I saw was the second one and I was afraid of the next. I just knew that there was another one coming, and I was right. Ten seconds later, as I stayed to watch what happened next, there was a flying object coming from the same direction! In my mind, I was like saying, â€Å"Oh no! It might hit us!† and then, I saw something that flew from the ground, and it hit that flying object. It exploded! A clash! Voila! Another explosion right before my own eyes! The events were too much to handle. I was so young to see the bad things of the world. My body was pumped with adrenaline as I witnessed the event. I panicked and I was so afraid that all I can think of was to run to my parents’ room. When I reached their room, I saw my father trying to calm my mother. My father was from the military. He gave my mother directions on what to do. He said to her, â€Å"You should take the kids and go with your family out of the city.† Why did he tell her that? Why did we have to leave? My mind was full of questions but at the same time all I can do is follow. Afterwards, my father received a phone call from the military base. My father’s reaction was to wear his military uniform, say goodbye to us and leave. My mind, as young as it was, cannot fully understand the happenings that night. However, as the years passed, I learned that that moment was the beginning of the desert storm. It was also only after a while when I learned about the anti-missile system that was used to protect Saudi Arabia was the same thing that protected the people in our place from the ballistic missile heading near our home. The United States provided antiballistic defense during those times to protect the kingdom during the Gulf War. (ARCENT Saudi Arabia (ARCENT-SA) ) Without the protection, who knows what may have happened. I am very thankful that what I witnessed was a series of mid-air explosions instead of ground ones or else wide-ranged death may be my story here. My youthful mind can be said to be not as innocent as it may be. To me, the event was a mind-opening one. It made me aware of the nature of humans and the things that they do.   As I look at my young self, I may say that I have already witnessed the harshness of man-made evils that can really kill people. The missiles may not have harmed us physically, but emotionally and intellectually, there have been scars from that event. The mere thought of my father leaving for war where life is like always hanging in line is a very devastating idea for me. People can be harmed by the technology that man builds; at the same time, it can also protect them. The event in my life that I told is a part of my history, maybe not only mine, but also of others who have seen it. Now, as I brought my story to life through my writing, it made me more aware of my life. It made me realize that around us, disasters are possible, natural or artificial. These phenomena take lives as they pass and that we must be ready. Our life on earth is just short and we must make every moment of it count. Bibliography ARCENT Saudi Arabia (ARCENT-SA) . (n.d.). Retrieved June 02, 2010, from Global Security.Org: http://www.globalsecurity.org/military/agency/army/arcent-sa.htm How to cite A Story from My Memory: The Clash, Papers

Research on Organizational Culture and Diversity †MyAssignmenthelp

Question: Discuss about the Research on Organizational Culture and Diversity. Answer: Introduction: Tania Kay was the Marketing Manager of Consumer Food Products Corporation of Canada. She had held a bachelor of arts degree in Political Science before completing her MBA from one of the premiere business schools in Canada. She had one physical ailment, as she was born with a dislocated hip, due to which she had undergone surgeries thrice, when she was fourteen months old, then when she was twelve years old and again after 7 years, when she had attained the age of 19 (Angeloni, 2013). She did not limp or give any other indications of her condition, till the point she used to get very tired. The only major difficulty Tania always experienced, was with her balance. The marketing department of ConFood had gone for a team-building retreat, which involved a scavenger hunt through the woods of cottage country in Central Ontario, with tree climbing, rock climbing, canoeing and a five-kilometer hike. Tania obviously could not participate in most of the activities which were carried out, due to physical ailments (Baumgrtner et al., 2015). She did not want to disclose the physical limitations to her colleagues and so she had talked about her problems with one of the managers. Marianne Renfrew, Tanias boss was the only person to be aware of the problems which Tania had. Still, she did not talk to her regarding the problems which she had faced in the retreat as her previous experiences, along with the knowledge about the psychology of attribution which she possessed, could allow people to judge her as a person negative attitude, incompetent or someone who always complains (Burgstahler Doe, 2014). During the debriefing session, when feedback was shared b y team members for one another, Tania saw that somebody had suggested her not to be negative in her approach as the approach made everyone else feel down as well. Tania felt at a loss after the marketing teams team-building retreat. Keeping in mind the fact that Marianne Renfrew knew about Tanias condition, to some extent, anyone else in Tanias position would have communicated the situation, which she faced during the retreat and debriefing sessions, to her boss as she was the only person aware of Tanias situation (Butterworth et al., 2012). This would have helped Tania get moral support and not feel let down or alone, having got disregarded as a team member. Disability can affect any person in any point of time, so this is an issue which is not abnormal. Communicating the problems in an effective manner help solve grave situations easily (Dong et al., 2013). Marianne Renfrew could have in turn communicated the issue which Tania was facing, to all her fellow employees, which would have made Tanias colleagues behave with her in a cordial and affectionate manner (Gold et al., 2012). On the other hand, Tania also would have felt that she was an integral part of the team, despite not being able to take active part i n all the activities due to her dislocated hip. The team building retreat for the marketing team involved various kinds of activities with the teams engaging in scavenger hunt through the wilderness of the scout camp to collect different puzzle pieces. The team which could put together the puzzle pieces would win the scavenger hunt. The hunt involved a rock wall climb, five-kilometer trail hike and tree climbing. Tania, who had a dislocated hip, in the very instance thought that she would not be able to participate in the activity as she might fall down (Kaletta, Binks Robinson, 2012). She did not want to reveal the limitation which she carried and hence, she had a talk with one of the facilitators. The process used to plan, run and evaluate the team building weekend through carrying out various activities like rock climbing, tree climbing and canoeing need drastic changes for the benefit of the employees, especially for Tania, who has a disability of dislocated hip (Lindsay et al., 2012). The activities should be such, which wou ld help build the culture, personality and work ethics to ensure that an organization runs in an effective manner. The recommendations on the changes are needed, for making the process used to plan, run and evaluate the team building weekend because these changes would help in making the marketing team involve themselves better and also make Tania, who has suffering from disability to feel a part of the group. The recommendations are as follows: Before going ahead with the team building retreat, management should have made sure to let every employee know about the kind of activities set to take place during the event. As communication is key for any organization to carry out their objectives in the desired manner, so they should have made sure to understand how comfortable every employee would be in taking active part in all those activities (Mitra, 2013). This exercise would have allowed Tania to communicate her problems to the management, which could have ensured transparency and better treatment of Tania and her problems from her colleagues. The activities should have been aimed more for establishing right attitude in workplaces and bring forth necessary developments among the employees. Rock climbing, canoeing, tree climbing and a five-kilometer hike would require team effort but that would not enable any individual persons growth. Active participation from members would help in successful implementation of the activities but if persons with disabilities are not taken into consideration along with special provisions for them, then those activities would not make any use for them. In this case, Tania felt left out from the group as she had physical problems, due to which she could not take part in any of the activities. Disabled people need to get recognition. Adoption of a unique identity which is socially invisible and deciding to disclose, allows other members to understand the social label attached to the ones holding any sort of disability, which might subsequently intervene with functions of work and social aspects (Claire Beatty MacLean, 2005). Employees could be made to go through certain live situations to help them be better marketers, which would get reflected through the activities and allow them to excel in their work. This would have also allowed Tania, suffering from a dislocated hip, to take active part and gel with other colleagues in the best possible manner to get the best output, thereby make those activities a success. That would have allowed Tania to feel better and not get isolated. Research indicates that people having concealable stigmatized identities tend to go through more of negative outcomes in all three forms, psychologically, behaviorally and physically, than those with visible stigmas (Quinn Earnshaw, 2011). The activities undertaken by the management for the team-building retreat could have been based on knowing people better and consider arranging grooming sessions. This would have ensured people to get groomed and set the right tone for working effectively in the workplace (Ravalier, Dandil Limehouse, 2015). The debriefing session should be held to highlight the strong points of the employees, rather than allow employees to provide feedback for another. Every feedback for each and every employee would be different as perceptions for different individuals are different. Negative feedbacks have adverse effects on the psychology of employees and hence should be discouraged by categorically specifying the need to express their positive views on the employees. This was exactly not done in case of Tania, where a feedback from her colleague was try not to be so negative, its a real downer for everyone else. This statement had direct impact on the psychology of Tania, where she had started to feel that she was not a part of the marketing team after the team-building retreat. Open-voicing of concerns is something which employee generally tend to avoid but in this case study, Tania, who has been suffering from a dislocated hip, could not take part in any of the team building activities that were taken up during the marketing retreat. Moreover, she did not express or share her problem with anyone, fearing that she would be judged as a negative individual, incompetent or a whiner (Santuzzi et al., 2014). This made her feel miserable and also the facilitator-led debriefing sessions were so humiliating for her that she did not know what to do. She was confused whether to disclose or if she would not disclose her problems to everyone, that would mean further alienation from her teammates and repetition of similar situations (Trainor et al., 2012). Some of the things which the management could have done differently to encourage more voicing of inclusion related concerns and also develop a more inclusive culture are: The situation of employees like Tania Kay, who suffered from disability like dislocated shoulder, should be encouraged to participate and not feel left out. Words of encouragement from the managements side for all employees to voice their opinions openly, would work wonders to provide them the much needed confidence and assurance that their problems would be heard and recognized (Santuzzi et al. , 2014). Management should introduce some personality building exercises to make the employees become aware of the surroundings, so that they could develop mutual respect for one another and not treat people having some sort of disabilities, with disrespect (Vrlander, 2012). Importance of organizational culture would come into play while encouraging employees to voice their concerns related to feeling alienated from the group due to some sort of disability. Organizational Culture is a set of expectations, commonly held to understand how people behave (Martin 2002, Schein, 1985). The need to coordinate with one another for carrying out any sort of activity would come to good effect and help make employees realize the art of doing things together. The success of an organization relies on the ability of the organisation to appreciate, encourage diversity and in realizing the benefits. Organisations should assess the issues related to workplace diversity in such a manner that altogether the company can prosper and reap dividends out of it. Diversity is inclusive of race, gender, age and background. Diversity not only talks about how people perceive themselves but the manner in which they view other people. The perceptions of the employees influence to a great extent the interactions taking place within the company. Human resources professionals should deal effectively the issues related to communication and adaptability so that the company can grow in the positive direction. Successful organizations know that immediate action is needed and they are willing to utilise the resources in order to ensure that diversity is maintained in the workplace (Byrd Scott, 2014).Employer makes changes so that the employees feel more comfortabl e to work within the organization. Flexibility should be of benefit for both the parties and it helps in providing superior outcome. Formal flexibility refers to the human resource policies that have been officially approved and that entitles the supervisors with flexibility and discretion in carrying out work within the organization. Informal flexibility, on the other hand, is indicative of the unofficial policies which has not been written down but are available for employees (Barak, 2016). The approach of an organization can be either proactive or reactive in nature. The organization should act as the provider of equal opportunity for all kinds of employees. The employees in an organization come from different kinds of backgrounds and so their cultural ethos should be taken into consideration in framing the rules and policies. Employees of different state having different kind of cultural backgrounds often have to migrate to other states so that in order to get a suitable job. Dearth of jobs often compels people to move to another state. They try to assimilate themselves with the cultural milieu of the different place after moving to the different place. Often people get the opportunity to move abroad to fulfil their career goals. The company should be co-operative enough in understanding the cultural ethos of the people coming from a different place so that their sensitivity is not harmed. They should be given leave during festivals so that they can come back to their native place and enjoy themselves. Understanding the needs of the employees is important for the successful growth of an organization. The employees are provided with respect if their cultural sensitivities are understood. They suffer from inferiority complex if their personal values are taken for granted. It can prove to be a stumbling block in regard to job satisfaction and can prove to be detrimental for the growth of the organization (Kundu et al., 2017). The framework of an organization should be developed in such a manner that the needs of all kinds of employees are satisfied. This can be in relation to job-sharing, arrangements of working from home, telecommuting and flexible timings. Child care facility along with that of part-time working and maternity leave can go a long way in providing the women in the workforce with flexibility so that they can perform their maternal duties perfectly before joining office. It is often found that organizations are blatant to the needs of women and this often forces the women to leave the organization and perform their maternal duty. Consideration for the circumstances and maternal needs of women should be given top priority while framing the policy in an organization (Ali, Ng Kulik, 2014). The work schedule should be made flexible so that the women can work and also fulfil their duty towards the family. Appropriate understanding for the concerns of women can go a long way in providing flexibi lity and encouraging them to perform better in the organization. This kind of policy helps in drawing lines within the organization and helps in bringing diverse individuals together. Changing mindset is essential in bringing changes within the organization and implements drastic changes for the successful growth of the organization. Employees in the present age look for work-life balance when they work in a company. Employees who are young and have not yet married feel the need of flexible timings so that he can follow his passion. The prerogative of an individual should be given importance and considered so that the individual feels inspired to work in a company and provide greater outcome (Tran, 2017). The organization should be flexible in its policies and should have a empowering culture and at the same time should be able to keep the workforce engaged and happier. The organization can carry out an audit before designing the workplace flexibility practice. An internal survey can be carried out in order to understand the preference and value of the employees. An external survey can also be conducted in order to get idea regarding the market practice. This can help in designing a robust system that can evaluate the needs of the employees (Guillaume et al., 2017). External benchmark can be made use of in order to bring positive changes within the organization (Wheeler, 2015). Sexual orientation in the workplace is often a cause of discrimination and should be done away with completely so that the organisation can grow positively. Discrimination on the basis of sexual discrimination can adversely affect the job status and the working environment. People with different sexual orientation are often harassed and different treatment is meted out to them thus causing them to suffer from insecurity. They can be overlooked in times of promotion and they c an be wrongfully terminated. Disability is another arena on the basis of which discrimination is done in the workplace. There is a general notion that the output coming from person suffering from disability is less as compared to that of a normal person and so discrimination is often carried out against them (Rudstam et al., 2016). Monetary cost compensation should be provided and they should be measured independently with the help of an external panel in order to prevent any kind of prejudice. Awareness should be raised in the organisation so that disability is recognized as a serious issue. The regional integration organizations should come together and see to it that the organizations are not discriminating on the basis of gender. Any claims on discrimination should be addressed in the right manner in the organization. An employee is often put in a less desirable position and they are forced to take leave of absence. Proper harassment policy within the organization can help in mitigating the harassment that a rises on account of disability discrimination (Badal Harter, 2014). The organisations should frame policies that mitigate bias within the organization. It should not rely on the bias in relation to individual perception and structured interviewing that has real-scoring against that of criteria can rightfully addresses the problems arising out of workplace diversity. The organisations should work in the arena of unconscious bias and research should be used in order to assess whether the right methods are being used in terms of recruitment, selection and leadership training (Phillips et al., 2016). The strategic human resources management should highlight on the three elements-integration, alignment and consistency. The initiatives taken should not undermine or work against each other. Resisting to changes proves to be a barrier in ensuring unity within the workplace. Miscommunication should be avoided within the teams and empathy can help in dealing with discrimination in the workplace. Resistance proves to be a major reason in forcing the minorities to bear insult and it limits the vale in relation to new perspectives. Misallocation of human resources is termed as glass ceiling and it provides an invisible barrier for the employees and it prevents them from achieving the executive position. The difference between that of wage and the level of education in relation to male and female employees offers proof of the barrier that exist in the workplace. Another social behaviour that acts as a challenge relates to that of homophily. It refers to the tendency of the individuals so that tey can associate with other people (Santuzzi Waltz, 2016). This tendency is highlighted during the hiring process along with that of informal socialization pattern within an organizatio n. Managers should be proficient at handling this kind of challenge with the help of awareness along with that of clever delegation. Managers have to understand the cultural predisposition in relation to the subordinates so that they can ensure that cultural rules are not violated. References Angeloni, S. (2013). Integrated disability management: an interdisciplinary and holistic approach.Sage Open,3(4), 2158244013510303. Baumgrtner, M. K., Dwertmann, D. J., Boehm, S. A., Bruch, H. (2015). Job satisfaction of employees with disabilities: The role of perceived structural flexibility.Human Resource Management,54(2), 323-343. Burgstahler, S., Doe, T. (2014). Disability-related simulations: If, when, and how to use them in professional development.Review of Disability Studies: An International Journal,1(2). Butterworth, J., Migliore, A., Nord, D., Gelb, A. (2012). Improving the employment outcomes of job seekers with intellectual and developmental disabilities: A training and mentoring intervention for employment consultants.Journal of Rehabilitation,78(2), 20. Dong, S., Oire, S. N., MacDonald-Wilson, K. L., Fabian, E. S. (2013). A comparison of perceptions of factors in the job accommodation process among employees with disabilities, employers, and service providers.Rehabilitation Counseling Bulletin,56(3), 182-189. Gold, P. B., Oire, S. N., Fabian, E. S., Wewiorski, N. J. (2012). Negotiating reasonable workplace accommodations: Perspectives of employers, employees with disabilities, and rehabilitation service providers.Journal of Vocational Rehabilitation,37(1), 25-37. Kaletta, J. P., Binks, D. J., Robinson, R. (2012). Creating an inclusive workplace: Integrating employees with disabilities into a distribution center environment.Professional Safety,57(06), 62-71. Lindsay, S., Adams, T., McDougall, C., Sanford, R. (2012). Skill development in an employment-training program for adolescents with disabilities.Disability and rehabilitation,34(3), 228-237. Mitra, S. (2013). Data revolution for disability-inclusive development. Ravalier, J. M., Dandil, Y., Limehouse, H. (2015). Employee engagement and management standards: a concurrent evaluation.Occupational Medicine,65(6), 496-498. Santuzzi, A. M., Waltz, P. R., Finkelstein, L. M., Rupp, D. E. (2014). Invisible disabilities: Unique challenges for employees and organizations.Industrial and Organizational Psychology,7(2), 204-219. Trainor, A. A., Carter, E. W., Swedeen, B., Pickett, K. (2012). Community conversations: An approach for expanding and connecting opportunities for employment for adolescents with disabilities.Career Development and Transition for Exceptional Individuals,35(1), 50-60. Vrlander, S. (2012). Management practice and disability: an embodied perspective.Scandinavian Journal of Disability Research,14(2), 148-164. Ali, M., Ng, Y. L., Kulik, C. T. (2014). Board age and gender diversity: A test of competing linear and curvilinear predictions.Journal of Business Ethics,125(3), 497-512. Badal, S., Harter, J. K. (2014). Gender diversity, business-unit engagement, and performance.Journal of Leadership Organizational Studies,21(4), 354-365. Barak, M. E. M. (2016).Managing diversity: Toward a globally inclusive workplace. Sage Publications. Byrd, M. Y., Scott, C. L. (Eds.). (2014).Diversity in the workforce: Current issues and emerging trends. Routledge. Guillaume, Y. R., Dawson, J. F., Otaye?Ebede, L., Woods, S. A., West, M. A. (2017). Harnessing demographic differences in organizations: What moderates the effects of workplace diversity?.Journal of Organizational Behavior,38(2), 276-303. Kundu, S. C., Kundu, S. C., Mor, A., Mor, A. (2017). Workforce diversity and organizational performance: a study of IT industry in India.Employee Relations,39(2), 160-183. Phillips, B. N., Deiches, J., Morrison, B., Chan, F., Bezyak, J. L. (2016). Disability Diversity Training in the Workplace: Systematic Review and Future Directions.Journal of occupational rehabilitation,26(3), 264-275. Rudstam, H., Golden, T., Bruyere, S., Van Looy, S., Gower, W. S. (2016). Beyond Handicap, Pity, and Inspiration: Disability and Diversity in Workforce Development Education and Practice. InDeveloping Workforce Diversity Programs, Curriculum, and Degrees in Higher Education(pp. 280-303). IGI Global. Santuzzi, A. M., Waltz, P. R. (2016). Disability in the workplace: A unique and variable identity.Journal of Management,42(5), 1111-1135. Tran, B. (2017). Organizational Diversity: From Workforce Diversity to Workplace.Handbook of Research on Organizational Culture and Diversity in the Modern Workforce, 100. Wheeler, D. S. (2015). A Changing Workforce for the Changing Needs of Critically Ill Children in the United States and Canada.Pediatric Critical Care Medicine,16(8), 791-792.

Managerial Accounting Brenton Pryce Company

Questions: You have just been hired as an accountant by GoodStyle Furniture, a manufacturer of specialty, hand-made furniture based in South Australia. The furniture produced by Goodstyle is in two ranges, Modern and Classical. The two ranges are different in design, but both are high quality, hand-made furniture and are priced accordingly. The owner of the company, Brenton Pryce, has always believed in pricing a quality product based on how much their larger competitors are pricing theirs. His argument has been that our product is as good, if not better, than the mass producers of furniture, so we should be charging at least as much, if not more, than what they charge. When you arrived at work for the first time, you learnt that the though the company has been in existence for the last twelve years, they have never had an accountant. The accounts were typically prepared by the Laura Peters , secretary of Brenton Pryce and Tom Nichols, a part-time accountant who came in once or twice a month. Tom has informed Brenton that he could no longer spare the time to come in and has suggested the need for an accountant on a full time basis, which is why you have been hired. Brenton, though, is still not convinced of the need for a full time accountant. Look, why do I need a full-time accountant? At the end of the day, all I need to do is total up my revenues, total up my expenses and the difference is my profit. Do I really need to understand my product costs? What is the purpose of that? Its not like I can lower my prices if my product costs are lower. I just follow the big guys like Hardly Normal and Super A-mart and price my product according to their pri ces. Why do I need to know what my product costs are? asked Brenton. Laura, who has been the secretary cum bookkeeper (of sorts) since the day the company started has prepared some information for you. Trying to be helpful, she has alphabetised the accounts. I do not know much about accounting, said Laura. But Tom has said that we need a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold, whatever that means. I have last years accounts for you, so could you please prepare those schedules or whatever and get it to Brenton? The alphabetised list of accounts can be found in Appendix A. Four days into your work, there was a fire over the weekend in the main office that stored the accounts. The manufacturing facility was not affected and work could go on, however, most of the information that was for the current years accounts was damaged and only partial fragments were readable. Luckily your work on last years accounts were not affected as you had brought them h ome to complete and was still in process of completing them.You need to get me back all the information thats now lost! My creditors want to see that information and I need you to work on it asap said BrentonSifting through ashes and interviewing selected employees, you have worked up some additional information: a) Laura remembers clearly that the predetermined overhead rate was based on 60,000 direct-labour hours to be worked for the year and $180,000 in overhead costs. (Tom mentioned this before he left, Laura said. No idea why it is important, but if it can help you, good luck.) b) The work in process balance was $4,500 at 1st April . Also the production supervisors cost sheets showed only one job in process on 30th April. Materials of $2,600 had been added to this job, and 300 direct labour hours had been expended at $6 per hour on this job. c) The accounts payable are for raw material purchases only, according to Laura. She clearly remembers that the balance in the account on 1st April was $6,000. Checking with Brenton for his cheque stubs, payments of $40,000 were made to suppliers during April. (All materials used were direct materials.) .The balance in the Accounts Payable account was $8,000 at 30 April .d) A charred piece of the payroll ledger shows that 5,200 direct labour hours we re recorded for the month. Laura has confirmed that there were no variations in pay rate (i.e. all employees were paid $6 per hour.) e) Records in the warehouse indicate that the finished goods inventory totalled $11,000 on 1st April. Also the finished goods balance was $16,000 on 30th April .f) The balance in the Raw Materials account was $12,000 on 1st April.g) Actual Manufacturing overhead incurred during April was $14,800.h) From another charred piece of paper, you discerned that the cost of goods manufactured for April was $89,000. You are now ready to and give Brenton the information he needs before you lose your job! When you went in to tell him that you can now start working on the information, Brenton tells you that he has spoken to Tom (their previous part-time accountant) and that the following information are required: Tom says we need the following information: Work in process at the end of April, raw materials purchased in April, Overhead applied, Cost of goods sold in April, and Raw materials used in April. He also suggested that we should be looking at whether the overhead was over- or under-applied, whatever that means. Required:Prepare a report (no more than 10-pages) for Brenton Pryce that addresses the following: a) The purpose of a product costing system. b) Preparation of a Schedule of Cost of Goods Manufactured and Cost of Goods Sold for last year. (The schedules may be in the appendix). Explain why some items have been excluded from the schedules. c) An Income Statement for last year assuming that tax is charged at 30% on Income before taxd) Determine the values for the following:i. Work in Process at the end of April; ii. Raw materials purchased in April; iii. Overhead applied in April; iv. Cost of Goods sold in April; v. Raw materials used in April; and, vi. Over- or under-applied overhead in April. e) Discuss how overheads can be over- or under-applied and how the company should deal with the over- or under-application. Administrative salaries $2,400 Advertising expense 1,200 Depreciation factory building 800 Depreciation -- factory equipment 1,600 Depreciation -- office equipment 180 Direct labour cost 21,900 Raw materials inventory, beginning 2,100 Raw materials inventory, ending 3,200 Finished goods inventory, beginning 46,980 Finished goods inventory,. ending 44,410 General liability insurance expense 240 Indirect labour cost 11,800 Insurance on factory 1,400 Purchases of raw materials 14,600 Repairs and maintenance of factory Sales 110,000 900 Sales salaries 2,000 Taxes on factory 450 Travel and entertainment expense 1,410 Work in process inventory, beginning 1,670 Work in process inventory, ending 1,110 Answers: (a) Product Costing is a term or methodology associated with managerial accounting. Product costing helps to determine the cost per unit of a product by studying and considering various sources used in its production.(Martin, 2012) Product Costing is defined as the process of assigning direct and indirect cost to individual branches, product and other cost items.(Brierley, 2008) Product costing help to improve the management information by helping the managers and other members of the board to take decision regarding product pricing, product design, delivery mechanism, etc.(Oracle, 2003) Product costing also serves the following benefit: It helps the manager to understand the contribution of each product in generating profit and in the growth of the economy. (Scheid, 2010) It assists the manager in understanding the variance between the actual expenditure and the budgeted expenditure. (Hoyle, 2010) Product costing helps to test or examine the viability of various new products. (Fisher, 2012) It helps to identify various sources of profit and losses. (CO Mgbame, 2009) There are various ways or methods involved in product costing. Each and every method have their own independent way of measuring the per unit cost of a product. Some of them are:o Activity Based Costing (Compton, 2009)o Marginal Costing (Per-Olov Johansson, 2010)o Process Costing (Osmond Vitez, 2011)o Standard Costing (Arthur, 2010) (b) Statement of Cost Particulars Amount ( $) Amount ( $) Opening Stock of Raw Material 2,100 Add: Purchase of Raw Material 14,600 Less: Closing Stock of Raw Material (3,200) COST OF RAW MATERIAL CONSUMED 13,500 Add: Direct Labor Cost 21,900 PRIME COST 35,400 Add: Factory Overhead - Depreciation on Factory Equipment 1,600 - Depreciation on Factory Building 800 - Repairs and Maintenance on Factory 900 - Insurance on Factory 1,400 -Taxes on Factory 450 - Indirect labor Cost 11,800 16,950 FACTORY COST 52,350 Add: Opening Stock of Work In Progress 1,670 Less: Closing Stock of Work In Progress (1,110) 560 COST OF GOODS MANUFACTURED FOR SALE 52,910 Add: Opening Stock of Finished Goods 46,980 Less: Closing Stock of Finished Goods (44,410) 2,570 COST OF GOODS SOLD 55,480 In the above schedule, Cost of Goods Manufactured is $ 52,900, whereas the Cost of Goods Sold is $ 55,480. While calculating the Cost of Goods Manufactured and Cost of Goods Sold, some of the item such as Travel and entertainment expense has excluded from the calculation because they form the part of office and administrative expense which is included in the calculation of total cost of sale. Thus, from the above calculation we can say, -Cost of Goods Manufactured= Factory Cost + Change in the Inventory of Work In Progress. -Cost of Goods Sold= Cost of Goods Manufactured + Change in the Inventory of Finished Goods. -Total Cost of Sale= Cost of Goods Sold + Office and Administrative Expense + Selling and Distribution Expense (c) Statement of Income Particulars Amount ( $) Amount ( $) Sale 110,000 Less: Cost of Goods Sold ( Calculated in Answer b) 55,480 GROSS PROFIT (A) 54,520 B. Office and Administration Expense - Travel and Entertainment Expense 1,410 - Depreciation on Office Equipment 180 - General liability Insurance 240 - Administrative Salary 2,400 TOTAL OF B 4,230 C. Selling and Distribution Expense - Sales Salary 2,000 - Advertisement Expense 1,200 TOTAL OF C 3,200 Net Profit/ Income before Tax ( A-(B+C)) 47,090 Amount of Tax (@30%) 14,127 Net Profit/Income after Tax 32,963 (d)(i) Calculation of Work In Progress at the end of AprilEstimated Overhead= $ 180,000Direct Labor Hour= 60,000 hrsOverhead Rate = Estimated Overhead/ Direct Labor Hour = 180000/60000 = 3 per hr Particulars Amount ( $) Opening Stock of Work In Progress 4,500 Add: Direct Material 2,600 Add: Direct Labor Hours (300*6) 1,800 Add: Overhead incurred (300*3) 900 Closing Stock Of Work In Progress 9,800 (ii) Calculation of Raw Material Purchased at the end of April Dr. Cr. Date Particulars Amount ( $) Date Particulars Amount ( $) 1st April To Opening Payment made 6,000 During April By Payment made 40000 During April To Raw Material Purchased 42,000 30th April By Closing Payment made 8,000 (Balancing Figure) 48,000 48,000 (iii). Calculation of Overhead Applied in the month of April Total Labor Hrs worked in April= 5,200 Overhead Rate ( As calculated in d(i))= 3 Overhead Absorbed/Applied in April (5200*3)l= $15,600 (iv.). Calculation of Cost of Goods Sold during the month of April Dr. Cr. Date Particulars Amount ( $) Date Particulars Amount ( $) 1st April To Opening Stock of Finished Goods 11,000 During April By Cost of Goods sold 84,000 (Balancing Figure) During April To Cost of Goods Manufactured 89,000 30th April By Closing Stock of Finished Goods 16,000 100,000 100,000 (v.) Calculation of Raw Material Used in the month of April Dr. Cr. Date Particulars Amount ( $) Date Particulars Amount ( $) 1st April To Opening Stock of Raw Material 12,000 During April By Raw Material Used 54,000 (Balancing Figure) During April To Raw Material Purchased 42,000 30th April By Closing Stock of Raw Material 0 54,000 54,000 (vi.) Calculation of Over or Under Allied Overhead Overhead Applied (As calculated in d(iii)) = $15,600Actual Overhead = $14,800Overhead Over applied = $(15600 14800) = $800 (e) Overhead comprise of indirect employees, indirect material cost and other indirect expenses which are not direct expense which are not directly identifiable or allocable to a cost subject economically feasible way. Overhead may be under-absorbed or over-absorbed.(Reinold, 2010) The under-absorption or over-absorption of overhead can be disposed off in cost accounting by using any of the following method:(THAKUR, 2009) Under- absorption or Over- absorption is to be treated by using supplementary rate. Under- absorption or Over- absorption is to be written off to Costing Profit Loss Account Under- absorption or Over- absorption can be carried. over to the next years account.If under-absorption or over-absorption is because of the management fault then such under-absorption or over-absorption will be transferred to Costing Profit or Loss Account. (Caplan, 2011)If under-absorption or over-absorption is because of seasonal variation then such under or over absorption of overhead shall be carried forward to the next accounting year. If under-absorption or over-absorption is because of change in price level then we will calculate supplementary rate and under-absorption or over-absorption with respect to unit sold will be transferred to Profit and Loss Account and under-absorption or over-absorption with respect to units in stock will be added to the value of stock.In the given case, in order to treat t he over-absorption of overhead the company should credit the Profit and Loss Account. 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