Osborne Manufacturing is preparing its master budget for the first quarter of the upcoming year. The following data pertain to Osborne Manufacturing’s operations: Current Assets as of December 31 (prior year):

Cash……………………………………………………………………………………… $4,640

Accounts receivable, net ……………………………………………………………. $57,600

Inventory ……………………………………………………………………………….. $22,587

Property, plant, and equipment, net …………………………………………………. $121,500

Accounts payable ………………………………………………………………………… $42,800

Capital stock ………………………………………………………………………………. $124,500

Retained earnings………………………………………………………………………… $39,027

a. Actual sales in December were $72,000. Selling price per unit is projected to remain stable at $12 per unit throughout the budget period. Sales for the first five months of the upcoming year are budgeted to be as follows:

January……………………………………………………………………………………. $104,400

February ………………………………………………………………………………….. $108,000

March……………………………………………………………………………………… $112,800

April……………………………………………………………………………………….. $109,200

May………………………………………………………………………………………… $105,600

b. Sales are 20% cash and 80% credit. All credit sales are collected in the month following the sale.

c. Osborne Manufacturing has a policy that states that each month’s ending inventory of finished goods should be 10% of the following month’s sales (in units).

d. Of each month’s direct material purchases, 20% are paid for in the month of purchase, while the remainder is paid for in the month following purchase. Three kilograms of direct material is needed per unit at $2.00 per kilogram. Ending inventory of direct materials should be 30% of next month’s production needs.

e. Monthly manufacturing conversion costs are $4,500 for factory rent, $2,800 for other fixed manufacturing expenses, and $1.10 per unit for variable manufacturing overhead. No depreciation is included in these figures. All expenses are paid in the month in which they are incurred.

f. Computer equipment for the administrative offices will be purchased in the upcoming quarter. In January, Osborne Manufacturing will purchase equipment for $6,000 (cash), while February’s cash expenditure will be $12,800, and March’s cash expenditure will be $15,600.

g. Operating expenses are budgeted to be $1.30 per unit sold plus fixed operating expenses of $1,800 per month. All operating expenses are paid in the month in which they are incurred.

h. Depreciation on the building and equipment for the general and administrative offices is budgeted to be $4,600 for the entire quarter, which includes depreciation on new acquisitions.

i. Osborne Manufacturing has a policy that the ending cash balance in each month must be at least $4,200. The company has a line of credit with a local bank. It can borrow in increments of $1,000 at the beginning of each month, up to a total outstanding loan balance of $130,000. The interest rate on these loans is 2% per month simple interest (not compounded). Osborne Manufacturing pays down on the line of credit balance if it has excess funds at the end of the quarter. The company also pays the accumulated interest at the end of the quarter on the funds borrowed during the quarter.

j. The company’s income tax rate is projected to be 30% of operating income less interest expense. The company pays $10,800 cash at the end of February in estimated taxes.

Requirements

1. Schedule of cash collections for January, February, and March, and for the quarter in total.

2. A production budget. (Hint: Unit sales = Sales in dollars/Selling price per unit.)

3. A direct materials budget.

4. A cash payments budget for the direct material purchases from Requirement 3.

5. Acash payments budget for conversion costs.

6. A cash payments budget for operating expenses.

7. A combined cash budget.

8. Calculate the budgeted manufacturing cost per unit (assume that fixed manufacturing overhead is budgeted to be $0.80 per unit for the year).

9.

Question 1: Username Method

Write a complete method to generate a username that matches these requirements:

·         first initial of first name

·         first five characters or last name (or full last name, if less than 5 characters long)

·         a two-digit random number

·         all lower case

Write code to go in a main method to read in the user’s first and last name and then invoke the method above and print out the generated username.

Question 2: Odd Number Array

Create an array that holds the first 100 odd numbers.

Iterate through the array and identify each number that is divisible by 5. Print the number, then double it.

To clairfy, when the code completes, the array will store [1, 3, 10, 7, 9, 11, 13, 30, …]

Question 3: Negative Array Methods

Write two methods that convert the elements of an array to negative numbers (e.g., convert 3 to -3).

The first method changes the elements in the array passed in as a parameter. The second creates a new array that contains the negative elements of the array passed in as a parameter. In the second method, the array passed in as a parameter should not change. 

You can assume the initial array contains all positive numbers. The method headers are:

public void negateElementsInArray(int[] numbers)public int[] createNegativeElementsArray(int[] numbers)

Question 4: SubArray Method

Write a method to create a new array that contains only the elements between specified indices (inclusive). The method header is:

public int[] subArray(int[] numbers, int start, int end)

For example, if the method was invoked with {1, 5, 2, 4, 7, 3}, start = 1, end = 4, the method would return {5, 2, 4, 7}.

Include appropriate error checking for the indices.

Question 5: String Array

Write a method that converts all Strings in an array to upper case. The method header is:

public void convertToUpper(String[] words)

Question 6: Increasing Order Method

Write a complete method to determine whether an array of integers is in increasing order. For example, [4, 6, 8, 10, 10, 12] is increasing order but [4, 2, 6, 1, 1, 3] is not.

Question 7: Arrays and ArrayLists

In your own words, describe two similarities and two differences between arrays and ArrayLists. Describe one situation where you might want to use an array. Describe one situation where you might want to use an ArrayList.

Question 8: ArrayList Method

Write code statements to accomplish the following. Ask the user for a “code word.” Then ask them to enter words repeatedly until they enter “quit” and store those words in an ArrayList. If the word does not contain the “code word,” add it to the list. For example, if the “code word” is “cat,” and the user enters “cater,” “scatter,” “cast,” “quit,” then only “cast” would be stored on the list. Output the number of words on the list.

Question 9: Mode Method (Challenge!)

Write a complete method to find the mode of an integer array. The mode is the number that appears the most frequently. For example, in the array [0, 4, 2, 7, 2, 4, 2], the mode is 2, because it appears three times. For this method, if there is more than one mode, you can return either. For example, for the array [4, 1, 3, 1, 4], you could return either 1 or 4.

Note that this method is more challenging that what I would ask you to do on the homework or an exam!

The method header is: 

public int findMode(int[] numbers)

Question 10: String Method Trace A

What is the value of text after each statement below? Also, show output that is printed, when applicable.

String text = “California”;text.toLowerCase();System.out.println(text.toLowerCase());text = text.toLowerCase();System.out.println(text.length());text = text.substring(2,6);System.out.println(text.substring(1));text = text.substring(1,2);System.out.println(text + 1 + 3);System.out.println(1 + 3 + text);System.out.println(text.equals(“i”));System.out.println(text==”i”);System.out.println(text.equalsIgnoreCase(“I”));

Question 11: String Method Trace B

What is the value of name after each statement below? Also, show output that is printed, when applicable.

String name = “Dr. Suess”;System.out.println(name.toLowerCase());name.toUpperCase();name = name.toLowerCase();boolean same1 = name.equals(“dr. suess”);boolean same2 = name==“dr. suess”;System.out.println(same1 + “ and ” + same2);System.out.println(name.length());name.replace(‘s’,’x’);name = name.substring(2, 7);name += 1 + 3 + “author”;

Question 12: String vs String Builder

In your own words, explain the difference in these classes. What are some pros and cons of each class?