...the exclusive use of Y. Zou, 2016. UV1710 Rev. June 17, 2009 THE CRADDOCK CUP Jose Rivaldo shuffled through the papers on his desk and sighed. As the general manager of the Craddock Youth Soccer League (CYSL), Rivaldo was committed to providing highquality soccer activities to boys and girls in the area. In addition to managing regular CYSL operations, Rivaldo was heavily involved in putting on a regional soccer tournament, the Craddock Cup, which brought approximately 32 premier high school soccer teams from throughout the region each May. This year’s tournament, like its predecessors, had been considered a great success by players, their families, and the local community. The weather had been beautiful, the referees had been fair, and the local hotels and restaurants had profited from the influx of people. Nevertheless, Rivaldo knew that the Craddock Cup was in trouble. Tournament expenses continued to rise, while corporate sponsorships remained difficult to obtain. CYSL had founded the Craddock Cup, in part, to fund a field-acquisition program for the league, with the expectation that the tournament would generate at least $6,000 annually toward that goal. Unfortunately, with tournament profits averaging a loss of almost $4,000 a year, CYSL’s board of directors was beginning to express frustration with the lack of profits generated by the Craddock Cup. Rivaldo knew the Craddock Cup was in danger of being canceled, and that he risked losing his job with...
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...the profit/contribution of the Craddock Cup. Within this context, the case asks whether the tournament should be continued, expanded or dropped. In addition, the case provides a vehicle to discuss allocation procedures and the concept of sunk costs. Finally, the case furnishes an opportunity to develop cost-volume-profit analysis within the context of relevant costs and revenues. Questions: 1. In determining whether to keep or drop the Craddock Cup, review in detail the overhead expense allocations currently used by the CYSL. Should the overhead allocations be revised, eliminated or retained? What are the financial results to the profit/loss to CYSL of the existing (32 team) Craddock Cup with any adjustments to allocations? With this analysis, should the Craddock Cup be retained? *Please see Figure 1.1 in Appendix for profit statement and relevant figures. After looking at the numbers we decided to eliminate Rivaldo’s salary, we determined that the overhead expense allocations currently in place are not appropriate. The city field rent should be eliminated from the allocated costs as the soccer league will be renting the field regardless of whether or not the Craddock Cup occurs; it is a sunk cost. This also applies to the CYSL office rent and utilities, which will be used by the employees whether or not the tournament is held. We needed to revise the salary allocation, because we do not need to allocate Rivaldo’s salary to the Craddock Cup as it is not relevant. Thus, we...
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...CRADDOCK CUP Laura Regus THE CRADDOCK CUP Mr. Rivaldo: Upon review of the allocations, we have determined that the salary (J. Rivaldo), rent and utilities allocations to the Craddock Cup are irrelevant, as these are sunk costs that will be inquired despite of the tournament. Also, we have noted that the “city field rental” expense should be eliminated, as this is an irrelevant cost that CYSL cannot avoid by cancelling the tournament. Subtracting these costs lets CYSL generate a profit of $6,502.00 (Exhibit 2A). Therefore we recommend that the Craddock Cup be continued. By expanding the tournament to include 32 more teams, CYSL will see an increase in their profits of $2,572 (Exhibit 3A). In order to breakeven with the increases in marketing and advertising, college recruiters and 20 additional face books, the new registration fee should be $350.00 per team. Recommendations Our recommendations upon reviewing the information provided will consist in ways of maximizing your potential profit. First, we recommend that the Craddock Cup is continued and also that you expand to include the additional 32 teams. By doing this, you will be generating a profit of $9,074.00, which will allow you to fund the field-acquisition program and still have spare income. Second, we suggest that you increase the markup of the concessions to 115 percent, which will generate an additional $1,296.00 in revenue. This will not be a dramatic increase for the participants of the tournament, so...
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...Memorandum Literature Review: Before a recommendation can be made, it is important to understand the different factors that play a role in your situation. One of the first aspects we analyzed was cost behavior, which is how a specific cost reacts to change in activity levels. We also accounted for relevant costs. These costs eliminate any unnecessary data that has the potential to complicate the decision-making process for management. Data Analysis: Craddock Cup generates total revenue of $49,840 for 32 teams from registration fees, T-shirts, concessions, soccer clinic, and contributions. It is currently incurring a total expense of $53,538. However, the total irrelevant cost of $3,400 decreases the total expense, which includes the city field rental for $1,200 Rivaldo’s salary of $6,300, and rent expense of $2,700, these costs will be incurred whether CYSL drops or keeps the Craddock cup. As a result, Craddock Cup generates an incremental profit of $6,502. Craddock Cup will generate an additional $10,132 by adding 32 more teams to the tournament. Most sources of revenues will double except for contributions for a total of $85,680. Relevant expenses such as registration with state YSL, hotels, face book, marketing and advertising, and salary remain unchanged. These costs remain unchanged due to recruiters’ interest in only High School teams, and no further plans for marketing and advertising, and no salary increase. However, relevant variable expenses double as...
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...Question 1: After reviewing the overhead-expense allocations made from CYSL to the Craddock Cup we have determined that the allocations made must be revised. The allocations currently in place are based solely on direct labor hours; however, this does not lead to the most accurate allocation of expenses. For Rivaldo and Renne Jansten’s salary allocations direct labor hours makes is correct because the amount of hours they work on the tournament should be a reflection of how much they are costing the tournament. The rent and utilities on the other hand cannot be based on direct labor hours of Rivaldo because this leads to a false allocation of expenses. This cost driver depends on what work takes place in the office space. Since each player that participated in the tournament needs to be insured and registered, one potential cost driver can be the amount of players participating in the tournament. The more participants in the tournament the more paper work there is to complete which leads to more time in the office. Another potential cost driver can be the number of games played because there are records of the games before and after the game take place. The paper work before the game may be related to which team is playing and which players from the teams will be playing. The paper work after the game will be related to the result of the game such as the score, the number of substitutions, and the number penalties. Therefore the more games that occur the more time must...
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...June 26, 2013 THE CRADDOCK CUP Maggie Leddy Northeastern University College of Business Administration Financial Reporting and Managerial Decision-Making ACC6200 – M/W 7:30 – 9:30 --- 470 DG After careful consideration and analysis of this case, I have determined that there is a way for the Craddock Cup to generate enough money annually for the Craddock Youth Soccer League to reach their field-acquisition goal. The first step would be to revise the overhead-expense allocations. Because Rivaldo is employed by CYSL full-time with a fixed salary, it would be benefitial for the tournament if none of it is allocated to the Craddock Cup. This is also true for the Rent and utilities. The league will be renting 10 soccer fields from the city for 40 weeks regardless of whether or not the tournament occurs so there none of those expenses need to be allocated to the Craddock Cup. 100% of Renee Jansten’s salary will continue to be allocated to the Craddock Cup. With the revised overhead-expense allocations, the Craddock Cup will be able to generate a profit of about $5,302 a year if all other expenses and revenues remain stable. (Exhibit 1). I have determined that expanding the tournament will generate a profit. With an increase in $1,000 for advertising, 15 more college recruiters, and 20 additional face books, I calculated that the profit for adding 32 more teams to the tournament would be close to $13,000...
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...✓ Materials Needed Performance Measurement & Control Systems for Implementing Strategy: Text and Cases, by Simons, Robert. Prentice Hall, ISBN #0-13-234006-2 Cases in Management Accounting & Control Systems 4th Edition, by Allen, Brownlee, Haskins and Lynch, Pearson-Prentice Hall, ISBN #0-13-570425-1 Freakonomics: A Rouge Economist Explores the Hidden Side of Everything, by Steven D. Levitt and Stephen J. Dubner, Harper Collins, ISBN#0-06-073132-X ✓ University Communication with Students All email communication from the University is sent to the student’s wsu.edu address. Please be sure that you have set up the link to forward your personal email address (aol, hotmail, etc.) or you will miss announcements and information that is very important to you. This is the email I use to contact you regarding class matters. If you change your email address, be sure to update again. ✓ Catalog Course Description with Prerequisitites 3credits: Managerial evaluation of budgeting, cost accounting, and financial analysis techniques; their utilization in control of operations. (pre-requisite acctg 550 or equivalent). Please note that pre-requisites are strictly enforced and that students will be disenrolled if they do not have course pre-requisites). ✓ Instructor Course Objectives Knowledge and Skill Expectations: Students should have the knowledge and skill level to record economic events, read and analyze financial information through the topic areas covered...
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...Exercise 1-2A | Product Cost | Selling, General, and Administrative Cost | a. | | X | b. | X | | c. | | X | d. | | X | e. | | X | f. | | X | g. | X | | h. | X | | i. | | X | j. | | X | Exercise 1-7A a. Payroll costs that would be classified as selling, general, and administrative expense include the following: Salary of the company president | $ 40,000 | Salary of the chief financial officer | 20,000 | Salary of the vice president of marketing | 18,000 | Salaries of administrative secretaries | 60,000 | Commissions paid to sales staff | 252,000 | Total | $390,000 | | | b. Payroll costs that would be classified as product cost include the following: Salary of the vice president of manufacturing | $ 25,000 | Salary of middle managers in manufacturing plant | 196,000 | Wages of production workers | 938,000 | Salaries of engineers and maintenance crew | 178,000 | Total | $1,337,000 | | | Since 3,600 units of 4,000 finished products were sold, 90% (i.e. 3,600 ÷ 4,000) of the product cost would be classified as cost of goods sold. Therefore, the payroll cost that would be included in cost of goods sold is determined as follows: $1,337,000 x 90% = $1,203,300 Alternatrive computation for the same result follows : ($1,337,000 ÷ 4,000) X 3,600 = $1,203,300 Problem 1-20B Event | | Assets | = | Equity | | Income...
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...Requirements for Written Case Analyses NOTE: Some requirements may seem demanding; however, they facilitate grading and enable papers to be returned in a timely fashion. Remember to put your name on the paper and you may used 2 sided print. 1. Answer the questions in the assignment in order. Number your answers to the questions to make it clear which question you are answering. No introduction or statement of the problem is required. 2. Use Tables and Exhibits to present quantitative analyses. Clearly show all calculations done to arrive at your answers and analysis. Where possible, use Tables and Exhibits to present calculations and quantitative analyses. You will be evaluated on the clarity of the presentation as well as the quality of the analysis. Font in Exhibits must be 10-point or larger; 12 point is preferable. This means the printed font (be careful if you use the “size” command!). 3. Don’t put case exhibits in your written case analysis. 4. Support your assertions with evidence drawn from case facts and your analysis. 5. Calculations are only the beginning of the analysis. You must interpret them and assess their managerial implications and significance for the decisions under discussion. Don’t be misled that your goal is just to solve the accounting problem. While you are expected to solve the accounting...
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...Chapter 5 1- You want to find the time value of the annuity below at end of year 3 (t=3). What should you calculate? A) PV of a 4 year annuity due B) FV of a 4 year annuity due C) FV of a 3 year annuity due D) FV of a 4 year ordinary annuity E) FV of a 3 year ordinary annuity 0 1 2 3 4 2- Moe is looking at an annuity that makes five $10,000 payments with the first annuity payment occurring 11 years from today. What is the present value of this annuity if Moe’s interest rate is 9% compounded annually? A) 16,430.30 B) 13,558.23 C) 15,987.86 D) 12,897.67 E) 17,987.89 3- You want to buy a car, and a local bank will lend you $30,000. The loan would be fully amortized over 5 years (60 months) and the nominal interest rate would be 12% with interest paid monthly. What would be the monthly loan payment? Assume payments start next period A) 430.89 B) 520.89 C) 667.33 D) 444.89 E) 430.89 4- Your sister turned 30 today and she is planning to save $4000 per year for retirement with the first deposit to be made one year from today (her last deposit will be made at age 60). She will invest in a mutual fund, which she expects to provide a return of 10% per year. She plans to retire 30 years from today, when she turns 60, and she expects to live for 30 years after retirement, to age 90. Under these assumptions, how much can she spend in each year after she retires? Her first withdrawal will be made at the end of her first retirement year (she will also make her last withdrawal...
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...1. JetDirect, LPD/LPR, IPP, and SMB. 2. It is The Internet Printing Protocol (IPP). 3. lpadmin, a CUPS web interface, and system – config – printer. 4. It is a Uniform Resource Identifier. It is a string/ name, or a symbol to identify a resource (ex: http://hangtime.blogs.nba.com/2012/07/18/blazers-smith-released-from-hospital/#) 5. Model Wizbang 9000 – lpadmin -p Wizbang 9000 -E -v socket://172.20.20.76 -m Wizbang 9000 ps.ppd.gz PPD file Wizbang_9000_ps.ppd.gz (already in the foomatic database) - lpadmin -p "Wizbang 9000" -E -v socket://(add IP address here) -m Wizbang_9000_ps.ppd.gz (basically, the same answer as the previous answer before this one). Connected to a JetDirect print server with an IP of 172.20.20.76 – press CTRL + V and it enters it to the copied IP, after you’ve copied the IP address….and then press the “enter” key. Accessible to all users – lpoptions -p printer -o option1=value –o, for a second option, enter the value of the file name. 6. A timing attack; a side channel attack, which the attacker tries to concede a cryptosystem, in which, you estimate the time taken to execute cryptographic secrets/conclusions or formulas. 7. rsh and rexec. (they send passwords in visible text). 8. (/home/axl/.ssh/id_rsa): 9. /etc/ssh/sshd_config, or /usr/local/etc/ssh/sshd_config, and /etc/sshd_config. 10. Modify the etc/host.deny, then enter sshd: “all.” You can then modify /etc/host.allow, then add the commands: sshd: Archie, sshd: Jughead, and sshd: Veronica...
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...1. JetDirect, LPD/LPR, IPP, and SMB. 2. It is The Internet Printing Protocol (IPP). 3. lpadmin, a CUPS web interface, and system – config – printer. 4. It is a Uniform Resource Identifier. It is a string/ name, or a symbol to identify a resource (ex: http://hangtime.blogs.nba.com/2012/07/18/blazers-smith-released-from-hospital/#) 5. Model Wizbang 9000 – lpadmin -p Wizbang 9000 -E -v socket://172.20.20.76 -m Wizbang 9000 ps.ppd.gz PPD file Wizbang_9000_ps.ppd.gz (already in the foomatic database) - lpadmin -p "Wizbang 9000" -E -v socket://(add IP address here) -m Wizbang_9000_ps.ppd.gz (basically, the same answer as the previous answer before this one). Connected to a JetDirect print server with an IP of 172.20.20.76 – press CTRL + V and it enters it to the copied IP, after you’ve copied the IP address….and then press the “enter” key. Accessible to all users – lpoptions -p printer -o option1=value –o, for a second option, enter the value of the file name. 6. A timing attack; a side channel attack, which the attacker tries to concede a cryptosystem, in which, you estimate the time taken to execute cryptographic secrets/conclusions or formulas. 7. rsh and rexec. (they send passwords in visible text). 8. (/home/axl/.ssh/id_rsa): 9. /etc/ssh/sshd_config, or /usr/local/etc/ssh/sshd_config, and /etc/sshd_config. 10. Modify the etc/host.deny, then enter sshd: “all.” You can then modify /etc/host.allow, then add the commands: sshd: Archie, sshd: Jughead, and sshd: Veronica...
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...trials the orange juice cleaned the pennies better than the vinegar on a 24 hour period.I expected the vinegar to clean the pennies instead it made it rusty in the last trial when it was for 24 hours. Experiment Hypothesis Orange juice on one set of pennies and vinegar on another set of pennies in separate containers will make you ask which liquid will clean the pennies is it the orange juice or vinegar? Answer to testable question: I mention before we did three trials of this experiment and I noticed that the orange juice gave the pennies a cleaning effect on all three trials. The vinegar seems to give the pennies a hard on trial #3 after 24 hours. Experiment Details Independent Variables On Trial#1 we started off with glass cups and the results were the Simply Orange juice and the Heinz vinegar actually cleaned the pennies. Trial #2 The Simply Orange Juice and the Family Gourmet vinegar cleaned the pennies and Trial #3 the Simply Orange Juice cleaned the pennies while the Family Gourmet vinegar rusted the pennies. Dependent Variables The time it took for these pennies to show a cleaning effect on all three trials was 24 hours based on the types of liquids that were being used. Controlled Variables The variables we kept the same on all...
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...Kelvingrove Art Gallery and Museum Argyle StreetGlasgowG3 8AG27/06/2006 | | Kelvingrove Art Gallery and Museum | Press Release £28 Million Museum Restoration Reopening of Kelvingrove Art Gallery and Museum Kelvingrove Art Gallery and Museum, reopening after 3 years of restoration and refurbishment in Glasgow’s West End on Argyle Street on the 11th of July 2006 whith special guest. The city of Glasgow sees Kelvingrove Art Gallery and Museum, one of the cities most iconic landmarks reopen after 3 years of restoration. The modernized Kelvingrove has seen nearly £28 Million spent on the major refurbishment and restoration. Within this development there is a new restaurant and a larger basement extension, this now allows Kelvingrove to accommodate 8000 exhibits. There are 3 floors of fine arts and exhibitions within Kelvingrove; with up to 8000 pieces there is plenty to see. The collections within Kelvingrove have come from Old Kelvingrove House Museum and the McLellan Galleries. The gallery and museum holds one of the world’s finest Arms and Armour collection. This collection was made in Milan in the 1440’s and is to be the closest completed plate armour in the world. Also featured is the armour made for the men and horses for the first Earl of Pembroke from around 1550. At the heart of the collection is R L Scott’s collection, Scott favoured “the real fighting stuff” which means that some pieces in the exhibit have seen some military use. The Kelvingrove Organ, which was...
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...PSG outlines multi-sport future Paris Saint-Germain (PSG) has signalled its intention to create a sporting empire modelled on FC Barcelona and Real Madrid in the latest demonstration of its growing ambition. The Ligue 1 giant on Tuesday announced the relaunch of the city’s handball team, which has existed in various forms since 1941 and has been associated with the club since the 1990s. The move is the initial phase of a bid to develop a multi-sport entity around the PSG brand, and could also see the launch of a basketball club. Barcelona and Real Madrid, along with a host of Europe’s leading clubs, have traditionally employed this model. “The idea is to rapidly create a large multi-sport club to promote the global project of Paris Saint-Germain,” said PSG director general Jean-Claude Blanc, according to Eurosport. “We will not stop at handball even if, for now, there is no specific list or timeframe of sports and deadlines.” The new strategy reflects the latest move by the club’s new owners in an era of great change. Qatar Sports Investment (QSI) in March acquired the remaining 30% stake in PSG in a deal that valued the club at Eur100 million. QSI had originally acquired a 70% stake from US investment firm Colony Capital in June 2011. Following the bitter disappointment of losing out on the 2011-12 Ligue 1 title to Montpellier on the final day of last season, QSI has signalled its intention to make an even stronger challenge at home and in Europe by embarking on a spending...
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