Quiz 7 Cost Accounting - 1450 Words

Name: ________________________ Class: ___________________ Date: __________ Quiz 7 1) Which of the following involves significant financial investments in projects to develop new products, expand production capacity, or remodel current production facilities? A) capital budgeting B) working capital C) master budgeting D) project-cost budgeting Answer: A Diff: 1 Terms: capital budgeting Objective: 1 AACSB: Reflective thinking 2) The two factors capital budgeting emphasizes are: A) qualitative and nonfinancial B) quantitative and nonfinancial C) quantitative and financial D) qualitative and financial Answer: C Diff: 1 Terms: capital budgeting Objective: 2 AACSB: Reflective thinking 3) The stage†¦show more content†¦What is the internal rate of return? A) 15% B) 16% C) 17% D) 18% Answer: B Explanation: B) $921,250 = $250,000F F = 3.685 Chart criteria for six years is 3.685 = 16% Diff: 3 Terms: internal rate-of-return (IRR) method, required rate of return (RRR) Objective: 2 AACSB: Analytical skills 10) Investment A requires a net investment of $1,600,000. The required rate of return is 12% for the four-year annuity. What are the annual cash inflows if the net present value equals 0? (rounded) A) $378,966 B) $526,836 C) $549,696 D) $591,466 Answer: B Explanation: B) 3.037 Ãâ€" ACI - $1,600,000 = $0 = $526,836 Diff: 3 Terms: net present value (NPV) method, internal rate-of-return (IRR) method Objective: 2 AACSB: Analytical skills 11) The degree of freedom to make decisions is: A) decentralization B) autonomy C) centralization D) motivation Answer: B Diff: 1 Terms: autonomy Objective: 1 AACSB: Reflective thinking Answer the following questions using the information below: Penn Oil Corporation has two divisions, Refining and Production. The company s primary product is Luboil Oil. Each division s costs are provided below: Production: Variable costs per barrel of oil $ 9 Fixed costs per barrel of oil $ 6 Refining: Variable costs per barrel of oil $30 Fixed costs per barrel of oil $36 The Refining Division has been operating at a capacity of 40,000 barrels a dayShow MoreRelatedAcc 290 Week 3 Practice Quiz New844 Words   |  4 PagesACC 290 WEEK 3 PRACTICE QUIZ NEW To purchase this visit here: http://www.nerdypupil.com/product/acc-290-week-3-practice-quiz-new/ Contact us at: nerdypupil@gmail.com ACC 290 WEEK 3 PRACTICE QUIZ NEW Question 1 The revenue recognition principle dictates that revenue is recognized in the period in which the cash is received. 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Overcoming Pt Lapindo Brantas Case Free Essays

Civics Individual Paper OVERCOMING PT. LAPINDO BRANTAS HOT MUD CASE By: Aditya Rahman Sulaiman 10/HK/295884/19279 International Undergraduate Programme Lapindo hot mud flood case or we usually called it â€Å"banjir lumpur panas Lapindo† is an event of the unstoppable mud gush in Kecamatan Porong, Kabupaten Sidoarjo, Jawa Timur and this accident have been happened since 29 may 2006. There are 2 views of the cause of this Lapindo hut mud flood case. We will write a custom essay sample on Overcoming Pt Lapindo Brantas Case or any similar topic only for you Order Now First, some scholars said that the primary cause of this event was because drilling mistakes and technical problems. Other theory said that it was happened because natural disaster, this theory explaining that sooner or later hot mud gush will be arise, the lapindo’s mining activity is only the trigger. First theory believes that there is an eror in the mining activity, PT. LAPINDO is suspected not doing a proper procedure in using the correct brace and bit (mata bor), they use it within different depth which has different thickness and causing a fault. In the begininning, PT LAPINDO won a drilling well tender called â€Å"pengeboran sumur Banjar Panji-1† from PT Medici Citra Nusantara as worth as US$24 million. PT LAPINDO was planning to drill the well until 8500 feet or 2590 meter depth. In order to reach that depth, infiltrate the Kujung layer (lapisan batu gamping), anticipate circulation loss potency (losing mud from the formation cause a high density liquid or mud come up) and kick potency (infiltration of other fluide to the upper layer), normally PT LAPINDO is needed to use a casing for its brace and bit. Running their work, PT LAPINDO has already used 30 inch casing for 150 feet depth, 20 inch casing for 1195 feet, 16 inch casing for 2385 feet and casing 13-3/8 inch for 3580 feet until 9297 feet, they only not yet put the last casing, the 9-5/8 inch casing for reach the Kujung layer in 8500 feet. The fact is, PT LAPINDO has a wrong prognosis a drilling term which briefly means drilling method of some points. They make a prognosis in different areas, they making a research of the Kendeng Zone but they drill at the Rembang Zone they assume such areas has same layers, due to those areas are closed enough . They estimate that in the drilling point, Kujung layer will obstruct them at 8500 feet depth, actually there is no Kujung layer within areas. They used some casing which they are don’t necessary need to use and make an accident. As consequences, an overpressure mud is blow out to the upper layer in mining process, the lower layer had already broken rapidly and not suitable with PT LAPINDO method. Then, after reaching 9297 feet the brace and bit touches limestone (batu gamping). LAPINDO thought that the target at Kujung formation has been achieved, in fact they only reach Klitik zone (also a limestone formation but has different density and porousity). Commensurate with mining procedure, LAPINDO use a mining pump to prevent the hot mud come up. The porousity of Klitik zone made the covering mud been spread over that zone and circulation loss happen. After the covering mud losing, kick was happened, the hot mud tried to achived upper layer due to density difference. Following the mining procedure, mining process was stopped and the brace and bit has been tried to be lifted up. Unfortunately, the brace and bit was stuck and been cut. A Blow Out Preventer (BOP) on the rig has been closed and another weight mud which has a big number of density was pumped down in order to stopping the kick. Another unexpected mud activity happned, because layer is so porous and the Blow Out Preventer (BOP) was already placed, the hot mud was trying to find other way. Condition and natural fissures of such soil also could be a factor why this kick –ing accident is happen. Since this surface blow out accident happened, the hot mud is not been stopped yet. The odd things is all of the document and mining procedure especially about casing installation is already accepted by BP MIGAS as a responsible bodied of mining. On the other hand, some scholars says that this accident is more like natural disaster called Mud Volcano, a layer that has high density mud which presume can provide a mountan if such mud going out to the ground surface, sooner or later a kind of things will happen just matter of time. Prof Dr Sukendar Asikin, master of geology from ITB (Instititut Pertanian Bandung) said that hot mud comes up because there is a tectonic movement below. The movement arise from a collision of Watukosek faulting zone, this faulting zone located on Australia faulting belt and pasifik which continually moving 5,3 cm/year. When the collision happen the hot mud find out way to blow out from any space mostly from a porous rock or layer. A foreign scholar, Dr Amanda Clarke, a master and lecturer from geology in Arizona State Universiy has already observing this Sidoarjo case 2 times. In addition, she said that based in geology map, Sidiarjo mud sprout on the straight line between Penagunggan mountain, Weliran mountain and Arjuno mountain which kown as Watukosek fault. The streamline has a weak and thin structure, a fluide can be easily arise. Furthermore, an international event for scholars has tried to make a consent regarding couse of Sidoarjo hot mud case. An International Conference and Exhibition which is held by American Association of Petroletum Geologist on 26th until 29th 2008 in Cape Town International Conference Center, South Africa provide 4 arguments. The arguments are; 3 scholars are agree that this accident happen in relation with Jogjakarta’s earthquake, 42 scholars are agree that Lapindo mining process it the main factor, this accident happened based on combination between mining process and Jogjakarta’s earthquake is accepted by 13 scholars, and the rest 16 sholars said that they can not determine what the problem yet, based on that data we conclude that more that half scholars attended are agree that Lapindo mining process it the main cause of this accident. This case has been even bigger, not only an accident but the effect on the society is being worse. Talking further about the effect, at least we have 3 major effect on the socity such as social, economic and environmental. In social effect, people around Sidoarjo are losing their houses, feel a bad sanitation, psychologically interfered, health disturbed, lack of education (some schools are closed) and many more. Can you imagine if such accident to you? Houses is the most important aspect that Sidoarjo case affected people, people around Sidoarjo doesn’t have any places to stay. In economic field, financing problem of course happen, people around Sidoarjo mostly jobless by a breaking farm or other materials which is covered by hot mud, and accessibility from Surabaya to Magelang or to east direction are closed decreasing economic activity within Sidoarjo area. In the environmental effect, most of natural resources within Sidoarjo areas are broken, after covered by hot mud a farm doesn’t had any function , a pure and clean lake which people use for wash also has no function anymore and a stinky smell from the mud also affected people. Solution and legal enforce of Lapindo’s hot mud case are going slow. Compensation that PT LAPINDO already provides is not distributed equally to the LAPINDO’s hot mud victims. The LAPINDO’s people said that compensation has been given directly by providing cash as much as Rp 2. 500. 000, 00 / meter square damageand transportation money compensation as much as Rp 500. 00, 00 / family (based on tempointeraktif. com date 29 october 2006). The amount of compensation is not firmly publicly determined, because this number has already changed through time, some newspaper said that the compensation is equal as Rp 15. 00. 000,00 per family. In fact, not all of the victims are know about this compensation procedure, the other who get this compensation also said that the cash distribution is not as much as what they have been promised previously. Republika newspaper date 27 august 2010 state that Aburizal Bakrie as owner of PT. LAPINDO affiliation company said that personal ly he has provided moreless Rp 7. 800. 000. 000,00 rupiah and he agree that this accident was because â€Å"Mud Volcano† theory. The government is seems to be not care enough to this case, as an evidence a government regulation in Sidoarjo case, the Presidential decree number 17 year 2007 is firstly arise 1 year after the accident happen. The Presidential decree number 17 year 2007 also not stipulating anything about PT LAPINDO punishment or compensation, briefly this decree mention about create a Overcoming Disaster Bodied (badan penganggulangan bencana) which shall handle and find a way out about effects of hot mud cases towards society. Moreover, The PT. LAPINDO BRANTAS is proven guilty by not following AMDAL RULES and another rules as follows; a) Undang-Undang Nomor 22 Tahun 2001 tentang Minyak dan Gas Bumi b) Undang-Undang Nomor 23 Tahun 1997 tentang Pengelolaan lingkungan Hidup c) Undang-Undang Nomor 23 Tahun 1997 tentang Pengelolaan Lingkungan Hidup (Lembaran Negara Republik Indonesia Tahun 1997 Nomor 68, Tambahan Lembaran Negara Republik Indonesia Nomor 3699) d) Undang-Undang Nomor 32 tahun 2004 tentang Pemerintahan daerah e) Etc There is an opinion of some people which said that this hot mud case is not solved yet, because people in government are politically affected by Aburizal Bakrie power. They said that our president itself used his money for the previous presidential general election and he looks like protecting Aburizal Bakrie. These kind of opinion are can’t be proved and only like political issues. Yet, the PT LAPINDO is been closed but the overcoming disaster still doesn’t work well. Basically, the government has to provide help using its Overcoming Disaster money which stated in State Budget. Actually, the government has done something but it is not equal with amount of hot mud case total damage. Many solutions have been tried regarding this case, the most better one is making the rig relief well. Such cases have happened in Australia and can be solved by this method. The problem is, rig relief well which is done by Pertamina is not runned continually, scholars approximates this rig relief well will be finish within 6 months but accompanied by some political issues, this Pertamina rig relief well making postponed or even stopped after 2 months (it is not firmly stated that this methods will be run again). In my opinion, this hot mud case will be finish fastly if the the political issues doesn’t mix up with the case. Aburizal Bakrie and his political power interfere our nation overcoming disaster. The government should act more firm and clear in making decision or further solution. This case also could be an evidence that our nation overcoming disaster is still need to be repaired. ENCLOSURE 1. 1 Mining Tools Lyte Limited Terafiliasi Kelompok Bakrie Kalila Energi Limited Pan Asia Enterprice Limited PT Energi Mega Persada Tbk (EMP) 15,76% 84,24% 1. 2 Bakrie’s Affiliated Companys 1. 3 Potrait of Society After the Accident Happen How to cite Overcoming Pt Lapindo Brantas Case, Essay examples

Mothers gift free essay sample

The time of which the glisten of your eyes shows the world a new creation of the human race, you begin to see the world in which your mother brought you into, you learn and explore the ideas of those of your peers. You perform actions you view from your parents over and over till the movements, thoughts, and values become a common purpose of your daily life till your ideological ideas make an impact on society and others. Mothers, they are the reason for our existence on this planet, and without them we would not be. My mom Ellen has been an inspiration on my life in ways of which help me to become a better person of society. She showed me the basics and the technical parts of life that help for communication and even the understanding of modern day life. From about the day I could walk I remember my mother as a compassionate, caring, and religious woman who loved nothing more than to help our family and welcome people as if she knew them. We will write a custom essay sample on Mothers gift or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page To me, my mom gave me values that will stick with me till the day I die. The values she gave me are the basics of all human utopian dreams such as treat others as you would like to be treated, pray for those less fortunate, and study to stay smart and, mostly keep away from drugs. These values helped me through my whole life I never push people away I always welcome them in If they are willing to treat me the same because of this, I have probably a more diverse amount of friends than anyone I know. In academics my mother taught me to never skip class and excel to the best of my ability, which in assignments is easily seen the parts of academics I try to excel in. My mother did this for me because she wanted me to stay in school and get good grades to succeed in life so I could support a family of my own. My religious values get stronger every day and without my mother I would never be the church boy I am today, with this I pray daily, I help with community service, and organization of events through the entire complex of church and districts. With this I now realize I follow rules that past men and women have set down for better peace and always willing to give truth which has even set me to want the profession of an officer so that I can make the homes and streets safer for our society. Without the motivation of my mother only God Himself would know how I would have become. At the sight of my grandmother death in the winter of 2001 my mom grew gloomy which was not only hard for her but for me, anytime I would look at my mother it would leave a pit in my stomach almost as if the sorrow was put onto me and when I would try to remember the past I would see my grandmother, and I realized she was exactly like my mother, which only broke me but it felt like I lost my mom. I take each day now as if it was the last day with my mother and the way she influenced my life in my academics, work and daily life will carry on to my successors and will in a way be like my gr andmother and my mom will never be lost to time but live on and influence and inspire others to create a better life for generations to come.