A Typical Homeschool Day

A Typical Homeschool Day According to the National Home Education Research Institute, as of 2016, there were approximately 2.3 million homeschooled students in the United States. Those two-million-plus students hail from a variety of backgrounds and belief systems. The NHERI states that homeschooling families are, ...atheists, Christians, and Mormons; conservatives, libertarians, and liberals; low-, middle-, and high-income families; black, Hispanic, and white; parents with Ph.D.s, GEDs, and no high-school diplomas. One study shows that 32 percent of homeschool students are Black, Asian, Hispanic, and others (i.e., not White/non-Hispanic) (Noel, Stark, Redford, 2013). With the wide diversity found in the homeschooling community, its easy to see why its difficult to label any day a typical homeschool day. There are as many ways to homeschool and as many ways to accomplish each days goals as there are homeschooling families. Some homeschooling parents model their day after a traditional classroom, even starting  their day reciting the Pledge of Allegiance. The rest of the day is spent doing sit-down work, with a break for lunch and perhaps recess. Others arrange their homeschool  schedule to suit their own needs and preferences, taking into account their own high- and low-energy periods and their familys work schedules. While there is no typical day, here are some organizational generalities many homeschooling families share: 1. Homeschooling Families May Not Start School Until Late Morning. Since homeschoolers dont need to dash for the school bus, its not uncommon for homeschooling families to make their mornings as calm as possible, starting off with a family read-aloud, housekeeping, or other low-key activities. While many homeschooling families get up and get school started around the same time as children in a  traditional school setting, others prefer to sleep later and avoid the drowsiness that plagues many school kids.   This flexibility is especially helpful to families with teenage students. Studies have shown that teens need 8-10 hours of sleep each night, and its not uncommon for them to have trouble falling asleep before 11 p.m. 2. Many Homeschoolers Prefer to Ease Into the Day With Routine Tasks. Although some children prefer to get their most difficult tasks out of the way first thing, others find it stressful to dive into complex subjects first thing. Thats why many homeschooling families opt to start the day with routines like chores or music practice. Many families enjoy beginning  with morning time activities such as reading aloud, completing memory work (such as math facts or poetry), and listening to music or creating art. These activities can help kids get warmed up for tackling new tasks and skills that demand more concentration. 3. Homeschoolers Schedule Their Toughest Subjects for Prime Time. Everyone  has a time of day in which they are naturally more productive. Homeschoolers can take advantage of their peak hours by scheduling their toughest subjects or most involved projects for those times. That means that some homeschooling families will have math and science projects, for example, completed by lunch while others will save those activities for later in the afternoon, or even at night or on the weekends. 4. Homeschoolers Really Do Get Out for Group Events and Other Activities. Homeschooling isnt all sitting around the kitchen table hunched over workbooks or lab equipment. Most homeschoolers try to get together with other families on a regular basis, whether for co-op classes or outdoor play. Homeschooling families are often active in the community with volunteer work, drama teams, sports, music, or art. 5. Most Homeschooling Families Allow for Regular Quiet Time Alone. Education experts say that students learn best when theyre given some unstructured time to pursue their own interests and  privacy to work without someone watching over their shoulder. Some homeschooling parents use quiet time as a chance to work with one child individually while the others are busy on their own. Quiet time also gives kids the opportunity to learn how to entertain themselves and avoid boredom. Other parents choose to have quiet time for the entire family each afternoon. During this time, they can enjoy their own down time by reading  a book, answering email, or taking a quick power nap. No two homeschooling families are the same, nor are two homeschool days. However, many homeschooling families do appreciate having a somewhat predictable rhythm to their days. These general concepts for organizing a homeschool day are those that tend to be fairly common  in the homeschooling community. And even though the homes of many homeschooling families look nothing like a traditional classroom, you can bet that learning is one of the things that homeschoolers do all day, at any time during the day or night. Updated by Kris Bales

Business Analytics Assignment Example | Topics and Well Written Essays - 500 words - 1

Business Analytics - Assignment Example - Data driven processes often create issues (noise) which are not relevant to the goals of the project. In this respect, logic-driven analytics processes will result in more clear and concise solutions. This depends on the project and the maturity of the audience/stakeholders. In an environment where the KPIs are not already established and the data is not well known, it might be appropriate to start with a logic driven process to focus the process on the most impactful issues. This keeps the noise to a minimum and keeps a project smaller in scope while not creating distractions. A data-driven approach can be added as a second step in this case. In a more sophisticated environment where basic KPIs are established, there is an opportunity to find the hidden levers in a process by using a data-driven process to provide deeper insight. Again, these choices are not universal and depend on the maturity of the audience and company, the quality, availability and knowledge of the data and the appetite of the organization for a complex project - The choice of an analytic model to use does indeed depend on many factors, including the nature of the project and the environment. It is worth noting that both logic driven and data driven models can co-exist and complement each other. In my opinion, a data driven approach is more suited to a situation where the data is not known, since a logic driven approach requires an intimate understanding and anticipation of the data before a model can be constructed. What would an effect hybrid first analytics project look like for an organization that has not approached true analytics in the past and what elements from each methodology would you apply? Assume the organization is relatively mature (in life cycle) but novice in deep analytics and has relatively clean and accessible data as well as well educated users. The main advantage I can see using a logic driven analytics (as one of the requirement) is

Patient education handout on schizophrenia Essay

Patient education handout on schizophrenia - Essay Example Schizophrenia is a psychiatric disorder characterized by alterations in an â€Å"individual’s perceptions, thoughts, affect and behavior†. One unfortunate aspect concerning the definition and diagnosis of schizophrenia is the fact that it is likely to differ among individuals. Depending on their particular circumstances surrounding the individual diagnosed, the symptoms may exhibit themselves in a great many number of ways. Like in other countries across the world, schizophrenia is a major health problem in the United States which affects a great number of individuals and requires a great deal of time and money devoted to its treatment. Thankfully, with the advent of modern medical science, psychiatrists have developed effective medications and evolved appropriate strategies for treating schizophrenia. Therefore, with suitable and timely intervention as well as the application of the correct pharmaceutical regimen, the disease can oftentimes be effectively treated; alth ough not cured.McGlashan & Fenton (1991), as quoted in Chapter 13 of the book entitled, Psychological Disorders, define the five different and unique types of schizophrenia. These include: (a) Disorganized, (b) Catatonic, (c) Paranoid, (d) Undifferentiated and (e) Residual.Patients who suffer from disorganized schizophrenia may exhibit symptoms such as illogical thinking or speech that lacks coherence and/or emotional hypersensitivity to stimuli that would otherwise have little to no impact on an individual who is not afflicted with schizophrenia

Education is our Most Important Asset Essay Example | Topics and Well Written Essays - 1000 words

Education is our Most Important Asset - Essay Example Education is the vehicle we use to promote our society and advance civilization. Education is the glue that holds humanity together and is our most important asset. A good education is more that just the bookwork and classroom learning that is often portrayed as education. A true education instills values and civility. It teaches the student the norms and mores of the society in which they live. Education gives us the tools to interact with our fellow man. This is the most basic and fundamental value of education. As Sahni reminds us, "you can have all the "book" knowledge in the world about a certain profession, but if you don't know how to behave with your co-workers and or your superiors, having "book" knowledge won't get you too far". In understanding the value of education, we need to understand that education can take place anywhere. Having learned the moral foundation for interaction, education can also promote equality and justice. According to a United Nations report titled "The Importance of Education for Women", "Civil and family education should be used to prevent young people from growing up to perpetrate violence against women. Violence was a result of miseducation in the family". Once again we see education at an early age promoting the civil society we expect. Education does not teach us what to think, but how to think. ... The goal of the college is to, "provide students with the knowledge, skills, and attitudes essential to living in and contribution to an ever-changing democratic society" ("The Importance of Education"). Programs presented at universities are meant to develop a student's autonomy, competence, conscience, and creative capacity. Critical thinking allows the student to decide the validity and value of the information available. Education also forms a standard by which civilization can communicate with one another. The student in Los Angeles will understand the academic paper written in India because they have been educated. Without this formal instruction we would be living in the world of Babel. Our science would be isolated and unattainable outside closed cultures. Without standard building blocks to construct our knowledge upon, most of what we have gained as a society would soon become unintelligible. When filled with slang and misspellings a Nobel Prize project would go unrecognized. As E.D. Hirsch so basically states, "there is a body of information that literate people do know" (131). Education gives us the tools we need to communicate. Education is the glue that binds our fragmented knowledge and allows research to build and create new and innovative opportunities for a civilized future. This educational rubber meets the road in its goal of sustaining a healthy economy. Education creates economic opportunity and it takes education to benefit from it. According to Ferguson, "Today, much of that high-value output demands workers with the creativity, cognitive abilities, and skills to interact with challenging technologies". Workers must be flexible and innovative to exist in today's fast paced world of rapid change. To participate in the

Compare And Contrast Piaget And Vygotsky Education Essay

Compare And Contrast Piaget And Vygotsky Education Essay Research into the way a person learns can be explained by looking at the psychological perspective. Cognitive development is concern with the ways in which childrens thinking develops in stages of life to adulthood. One of the most well known researches that can be applied to today is Piaget. This can be compared and contrast to Vygotskys theory however it can contradict against behaviourlist psychologist who say childs knowledge is due to reinforcement or punishment. This essay will compare and contrast Piaget to Vygotsky and the application it has to education, with reference to strength and weaknesses. Piaget was a Swiss psychologist who provided a highly influential theory of cognitive development. Piaget was struck by the fact that younger children gave different answers than other children, not because they were less intelligent but because they were interpreting the questions differently. Piaget saw children as scientists, and the believed they should learn by themselves. Piaget believed that the childs knowledge of the world is organised into schemas, structured patterns of knowledge and action. From birth the child has action schemas, enabling the child to know the world through acting upon it. During the 2nd year, the child begins to think about actions, and mental schemas develop. At all times, the child is motivated to keep their schemas organised, to incorporate new experiences into existing schemas, and to develop new schemas. Piaget considers we are innately programmed to adapt to our environment. Piaget used the term adaptation, to refer to the way the child learns as a result to their encounters and interactions with their environment. Adaptation takes 2 possible forms, Assimilation; this is when the child learns something that readily slots into their existing schemas. Accommodation is when the child has to change their existing schemas in order to take in a new experience. A schema allows an individual to make sense of the world as scheme are experiences, memory and information. This shows that cognitive development in a child is the process of revising knowledge to fit the ideas into this world. Another important point in Piagets theory is the existence of a third functional invariant called equilibration to keep the whole system in balance. Any changes in any part of the system will cause imbalance or disequilibrium. Equilibration keeps assimilation and accommodation in balance. Piaget developed a model of self regulating interaction which showed a link between the natu re of the physical and social environment with the childs cognitive structure. Piagets view is that cognitive development happens in stages, and at each stage the child recognises the way they think. Piaget identified 4 stages of cognitive development. Stage 1 is the sensorimotor stage from birth to 2 years. This is when the child knows the world initially through sensation and action. Piaget studied the sensorimotor phase by observing his own children. There are 2 principle features of this stage. First, those children develop object permanence, the realisation that objects exist permanently even when the child cannot see them. Second, is action schemas, by which the child knows the world through sensation and action, are supplemented and superseded by mental representations. Piaget divided the sensorimotor phase into 6 sub-stages. However, not everyone agreed with Piagets claim about object permanence. Bower (1981) showed that if an object disappeared behind a screen and then the screen was lifted, babies as young as 5 months would show surprise if the object was not there. This suggests that they did except the object to be there. However, the issue is not so much at what age these changes occur, but that they could occur and Bowers evidence merely suggests that Piaget may have underestimated what infants could do. The pre-operational stage (2-7 years) is when the children understand the world through visual appearances and non-logical assumption. From the age of about 2 years, children have mental schemas and can symbolise objects and actions in the mind as representational thought. Thought can be expressed through fantasy, play, language and drawing. Piaget divided the pre-operational Piaget divided the pre-operational stage into 2 sub stages, the preconception stage- from 2-4 years and the intuitive stage- from 4-7 years. In the pre-conceptual phase, childrens grasp of concepts is vague. They may, for example, think that if a dog is small enough it becomes a cat. Egocentrism is perhaps the most serious limitation in pre-operational childrens thinking. Typically, preoperational children said that the scene would look just the same as from their own viewpoint The next stage is the concrete operational stage (7-11 years), the child develops a degree of logic and reason, but is limited to practical problems and specific examples. Children develop mental operations Egocentrism is left behind, children become decentred, and they master principles of classification and class inclusion, and eventually full conversation of volume, number and quality. Their understanding of the world is fact-based and practical rather than theoretical. The last stage is the formal operational stage (11 years), the child achieves mature thinking and is capable of abstract theorising and scientific reasoning therefore they are fully developed by the age of 15. Formal operational adolescents are scientific in their thinking, use abstract logical reasoning and theorising, make hypotheses and test them systematically, and deduce conclusions from premises. At this stage, language plays an important role in thinking, and this means that instruction can play a more direct role than in earlier stages. There are weaknesses to this theory. Piaget underestimated the age at which children could so things- this may be because he failed to distinguish between competence (what a child is capable of doing) and performance (how a child performs on a particular task). Piagets studies tested performance and then he assumed that a child who failed simply lacked underlying cognitive structures, that he believed were needed to succeed on that task. Piaget underplayed the role of language and social factors in cognitive development. In an earlier experiment she found that children who were non-conservers differed in terms of the language they used from children classed as conservers. Non-conservers mainly used absolute rather than comparative terms and single term for different dimensions such as small to mean short, thin, or few. These findings suggest that cognitive and linguistic development is tied together, but which comes first despite many shortcomings, the strengths of Piagets approach and theory should not be overlooked. Piaget produced the first comprehensive theory of childrens cognitive development. The theory has been more extensively developed than any other. It has changed our ideas about children and has had a general influence on educational practice. Like all good theories, it has also generated research. Vygotsky development is a social process which contributes to the cognitive development through social interaction. Vygotsky (1935- 1978) through social interactions with more experienced and knowledgeable member of society parent, teacherà ¢Ã¢â€š ¬Ã‚ ¦- children are able to acquire the knowledge and skills that culture deems to be important. Vygotsky believed that culture teach people how to think as well as what to think as he put a lot of emphasis on practical way of learn and remembering. He used the expression zone of proximal development (ZPD) to express the area between the level of performance a child can learn alone and of which the child can achieve with someone with knowledges help. Vygotsky believed that children cannot be accelerated beyond this zone. Therefore children learn little when left alone to struggle but neither do they learn when someone takes over their task. The term scaffolding can be used to express how a child learns according to Vygotsky. This can be d efined as support frame work for childrens learning. When the child becomes more capable and confident a gradual withdrawal of help with scaffolding is an important aspect. Roger (1990) argue children become better problem solver if they practise solving problems with their parent or more experience children. Vygotsky further believes that language is important; the use of speech influences their cognitive development. In early days, children talk to themselves when playing; this is referred as private speech. Berk (1994) demonstrate that private speech is important as it a child would use it more when doing a difficult task compare to a easier one. Piaget notice this as well and referred to this as egocentric speech, because of the inability at pre school level to think from another perspective, in comparison Vygotsky state children talk to themselves in power to help them with their level of behaviour, and how to reflect and organise their behaviour in certain situation. Like Piaget, Vygotsky believe children are active in their own learning, by exploring their environment which helped shape their own knowledge. Vygotsky theory can be applied to education as it is concern how a child is taught. Vygotsky emphasized that the most important force into a child development was the social environment unlike Piaget theory of development heavily focus on the evolutionary biology. Both psychologists took notice in children pretend playing and becoming roles of people in society. Vygotsky however noticed that pretend play places the children in a zone of proximal development in which the play in advance of their real capabilities as they take the role as doctors, parents, teachers, as pretend play is based on rules. This guide behaviour in these roles, indirect they learn norms of society and how people expect them to act.The main difference between both psychologist is the degree social and interpersonal interaction causes development. Piaget idea had a huge influence on British education. The Ploweden report was an prominent, influential and emphasised many of Piagetian principles such as development age, readiness and the developmental stages. This document was published in 1967 and principles it brought to education was that children should discover for themselves and being active learner. Teachers role if to ask question and provide material to provide the children in state of disequilbration that enable them to modify their schema. Piaget theory suggests child centre learning, as all children mature at different rates, this help create small group activity and different children learn in different way. Vygotskys theory has high implication for education; especially in the recent years as he stresses out the importance of social interaction with more experienced others as an essential, as education was a fundamental aspect of human development. Peer tutoring is a key concept as children learn little when on their own or from a teacher who so advance, but rather with children a year or two ahead of those being taught. This is seen to be scaffolding. The zone of proximal development helps as a guide to help children achieve according to their abilities. Finally as Piaget influences argues children should be active learner, Vygotsky believes children should learn through play, especially through role plays as children operate beyond their usual level of thinking. To conclude, both theories have an effect to education and different ways of learning to a certain extent, however they are both different in a significant way even though there are similarity such as a strong debate between nature and nurture. How this can be seen to an advantage as both theories put together help each other to explain cognitive education biological and environmental influences. As Vygotsky overemphasised the role of social factor, Piaget overestimated the difference between stages.

Comparing Metafictional Traits with Elements of Realism Essay -- compa

Metafictional Traits   Ã‚   Metafictional Traits found in Flaubert's Parrot and in John Fowles' The French Lieutenant's Woman, before comparing these with the elements of realism in Isaac Singer's The Family Moskat. "For some, Life is rich and creamy ... while Art is a pallid commercial confection ... For others, Art is the truer thing, full, bustling and emotionally satisfying, while Life is worse than the poorest novel: devoid of narrative, peopled by bores and rogues, short on wit ... and leading to a painfully predictable denouement."1 Thus Barnes compares Life and Art in Flaubert's Parrot; but these words could just as easily refer to the different perspectives of realist and metafictional writers. Bearing these perspectives in mind, this essay will examine the metafictional traits found in Flaubert's Parrot and in John Fowles' The French Lieutenant's Woman, before comparing these with the elements of realism in Isaac Singer's The Family Moskat. By considering the advantages and disadvantages of these novelistic schools of thought, it shall then be demonstrated that the reader's own views on Life and Art may determine the value one assigns to these alternative styles. When Braithwaite muses, "If I were a dictator of fiction,"2 the process of creating fiction itself becomes the subject matter of the narrative. Barnes himself is clearly a dictator in the sense that he has control over the content of his own novel, but in this instance, Braithwaite is referring to all fiction. This reference to the production of fiction is a common quality of metafiction, and it recurs frequently in Flaubert's Parrot. The theme is picked up later when Braithwaite says, "Many critics would like to be dictators of literature,... ...out, for example, p. 87. 19 Ibid., throughout, for example, p. 108. 20 Ibid., p. 97. 21 Ibid., p. 261. 22 Ibid., pp. 262-4. 23 Ibid., p. 59. 24 Ibid., p. 98. 25 Barnes, p. 47. 26 Ibid., p. 169. 27 Ibid., pp. 50-2. 28 Ibid., pp. 160-70. 29 Ibid., p. 87. 30 Ibid., p. 108. 31 Fowles, p. 390. 32 Barnes, p. 88. 33 Ibid., p. 68. 34 Ibid., p. 88. 35 Singer, Isaac Bashevis, The Family Moskat, translated by Gross, A. H., Penguin, London, 1980, p. 582. 36 Ibid., p. 193. 37 Ibid., p. 606. 38 Ibid., p. 179. 39 Ibid., p. 636. 40 Ibid., pp. 132, 490, 543. 41 See Barnes, p. 46. 42 See Fowles, p. 268. 43 Ibid., p. 98. 44 Barnes, pp. 49-65. 45 For example, Singer, pp. 239-242 (Letter from Adele to her mother), 444-52 (Hadassah's diary entries). 46 Barnes, p. 88.      

Managerial Accounting Quiz 1 Essay

Chapters 1 and 2 10 Points 1. Complete the answer sheet below by placing an â€Å"X† under each heading that identifies the cost involved. The â€Å"Xs† can be placed under more than one heading for a single cost. (5 Points) Variable Cost Fixed Cost Direct Materials Direct Labor Manufactu ring Overhead Period Cost Materials costs X X Production line workers wages X X Production Equipment rental X X Factory Building depreciation X X Advertising costs X X 2. A partial listing of costs incurred at Rust Corporation during August appears below: Purchases of raw materials†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $ 135,000 Direct labor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 73,000 Factory Utilities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11,000 Sales Commissions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 69,000 Administrative Salaries†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 101,000 Indirect Labor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 89,000 Depreciation of Production Equipment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 18,000 Indirect Materials†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10,000 Depreciation of Office Copy Machine†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5,000 Raw materials inventory, beginning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 97,000 Raw materials inventory, ending†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 84,000 Work in process inventory, beginning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 39,000 Work in process inventory, ending†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 52,000 Finished goods inventory, beginning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 106,000 Finished goods inventory, ending†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 71,000 a. Prepare a Schedule of Cost of Goods Manufactured in good form. (3 Points) Direct Materials: Beginning raw materials inventory: $97,000 Add: Purchase of raw materials 135,000 Raw materials available for use 232,000 Deduct: Ending raw materials inventory 84,000 Raw materials used in production $148,000 Direct Labor: 73,000 Manufacturing Overhead: 118,000 Total manufacturing cost: 339,000 Add: Beginning work in process inventory 39,000 378,000 Deduct: Ending work in process inventory 52,000 Cost of goods manufactured $326,000 b. Compute the Cost of Goods Sold. (2 Points) Finished goods inventory, beginning$106,000 Add: Cost of goods manufactured 326,000 Goods available for sale 432,000 Deduct: Finished goods inventory, ending 71,000 Cost of goods sold $361,000 Managerial Acctg Quiz 2 – Fall 2012 NAME__ _______________________ Chapters 3 and 4 10 Points 1. Pence Company is a manufacturing firm that uses job-order costing. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 44,000 machine hours and would incur $176,000 in manufacturing overhead cost. During the year the following actual costs and hours were incurred: Job A Job B Job C Job D Direct Materials$ 135,000 $ 129,000 $ 98,000 $ 103,000 Direct Labor $ 80,000 $ 85,000 $ 63,000 $ 68,000 Machine Hours 12,000 13,000 8,000 14,000 Number of Units 50 35 60 Indirect Materials used: $ 34,000 Indirect Labor: $ 63,000 Selling Costs: $134,000 Factory Utility Costs: $ 14,000 Factory Depreciation: $114,000 Administrative Salaries $157,000 Required: (5 points) a. Compute the predetermined overhead rate 176000/44000= 4.00 b. Compute the amount of overhead applied to each job. A.12000*4= 48000 B. 13000*4= 52000 C. 8000*4= 32000 D. 14000*4= 56000 c. Assuming that Jobs A, B, and D were completed during the year, compute the total cost charged to each job and the unit cost of the product produced. A.5660 B.8543 D. 3983 d. Compute the balance in Work In Process at the end of the year. 161,000 e. Compute the amount of overhead under or overapplied. 176000-161000= 15000 f. Assuming the amount is not material, write the journal entry required to close the manufacturing overhead account at the end of the year. Work in Process 161,000 Manufacturing Overhead161,000 2. Elton Company uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in Department M. Conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1 and 50% complete with respect to the 6,000 units in work in process at May 31. During May, 12,000 units were completed and transferred to the next department. An analysis of the costs relating to work in process at May 1 and to production activity for May follows: Materials Conversion Work in process 5/1 $26,200 $19,370 Costs added during May $26,900 $29,380 Required: Using the weighted-average method, determine the Equivalent Units of Production for Materials and Conversion Costs, the Cost per Equivalent Unit for Material and Conversion Cost, and the total product cost per Equivalent Unit. (5 Points) Equivalent units of production Materials Conversion Transferred to next department†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 12,000 12,000 Ending work in process (materials: 6,000 units Ãâ€" 100% complete; conversion: 6,000 units Ãâ€" 50% complete)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6,000 3,000 Equivalent units of production†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18,000 15,000 Cost per Equivalent Unit Materials Conversion Total Cost of beginning work in process†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 26,200 19,370 Cost added during the period†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 26,900 29,380 Total cost (a)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 53,100 48,750 Equivalent units of production (b)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18,000 15,000 Cost per equivalent unit, (a) à · (b)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2.95 3.25 Total: $6.20

Short Selling

Short selling Short selling is a practice of selling a borrowed security that the seller does not necessarily own. Short sellers are generally betting that the price of security will go down, and  assume that they will be able to lock-in a certain profit by buying the security at a lower price than the price at which they originally sold short. Example of short selling Short seller borrows the security for a given fee and sells it short on the market for Rs 40000.If tomorrow the price of security drops to Rs 38000, short seller could buy it back in order to return the security and lock a profit of 2000 (the price difference between 40000 and 38000), less the borrowing fee. Islamic Point of View Short selling is prohibited (Haram) from the Shariah perspective. Shariah scholars found several reasons behind which, short selling is considered haram, and the reasons are as follows:- 1- selling something you doesn’t own:-In Islamic transactions; to sell something you must first ha ve the ownership of what is being sold or the subject of the sale.Therefore in order to sell a security, the security must be owned by the seller and not borrowed – which is the case in short selling. 2- Riba:-Short selling is associated with the conventional borrowing and lending system of securities which includes a series of interest-based charges for services, and interested payments on borrowed securities. And as we all know, charging interest on services and borrowed securities is considered as Riba. 3- Speculation: – Since short sellers are watching out for fluctuations in the markets, to sell the share at a higher price and buy it back at a lower price and pocket the difference.Speculation has been perceived negatively due to its resemblance with gambling. 4- Gharar/ Ghobun :- there is uncertainty in the contract and the buyer is also deceived. 5- unjust deeds Hamish Jiddiya Token money, down payment  by a party  intending to purchase certain goods who wish es to confirm the intention to do so by paying an amount to the seller as token money or down payment to secure the goods. Hamish Jiddiya is a collateral given for a promise to purchase.If the buyer is not proceeding to purchase, the seller can demand compensation for the actual damage, if the collateral is higher, the buyer receives an amount back, if the actual damage is higher, the the seller can demand additional compensation above the collateral. Arba’un The term Arba’un means an amount of money that the customer as purchase orderer pays to the Bank after concluding the Murabahah sale, with the provision that if the sale is completed during a prescribed period, the amount will be counted as part of the price.If the customer fails to execute the Murabahah sale, then the Bank may retain the whole amount. Waqf A Wakf is an unconditional and permanent dedication of property with implied detention in the ownership of God in such a manner, that the property of the owner may be extinguished and its profits may revert to or be applied for the benefit of mankind except for purposes prohibited by Islam. Examples of Waqf Land & Buildings: one or more persons provide Cash as waqf to purchase land and buildings, e. g. a small shopping complex.Once the complex is purchased, the property may be classified as a waqf property and waqf rules apply. The property may not be sold (except to replace), be gifted, or inherited. The property remains intact and may not be spent. The rental income that is produced by the complex may be used for any shari'ah compliant purpose. Valid contract The remedy of specific performance presupposes the existence of a valid contract between the parties to the controversy. The terms of the contract must be definite and certain.This is significant because equity cannot be expected to enforce either an invalid contract or one that is so vague in its terms that equity cannot determine exactly what it must order each party to perform. It would be unjust for a court to compel the performance of a contract according to ambiguous terms interpreted by the court, since the court might erroneously order what the parties never intended or contemplated. Example A homeowner (who is over the age of 18 and of sound mind) signed a contract with the appliance store to buy a refrigerator.The homeowner pays for the refrigerator and the appliance store presents the refrigerator for the homeowner to take home. Void contract A void contract is not a contract and has no effect in a court of law and cannot be enforced in a court of law. Most commonly, a void contract will be missing one or all of the essential elements needed for a valid contract. Neither party needs to take action to terminate it, since it was never a contract to begin with. Example A contract that was between an illegal drug dealer and an illegal drug supplier to purchase a specified amount of drugs for a specified amount.Either one of the parties could void the c ontract since there is no lawful objective and hence missing one of the elements of a valid contract. Voidable Contracts A voidable contract is a contract, which may appear to be valid, and has all of the necessary elements to be enforceable, but has some type of flaw, which could cause one or both of the parties to void the contract. The contract is legally binding, but could become void. If there is an injured party involved, the injured party or the defrauded must take action, otherwise the contract is considered valid. ExampleA contract entered into with a minor could be voidable. Bai Tawliyah Bai Tawliyah Is a sale and buy-back agreement, is a type of Islamic finance that is a banking activity that is congruent with Shariah, which are the principles of Islamic law. Bai Tawliyah is a part of Islamic finance, such as a Muslim mortgage, where there is transaction of buying and selling between the customer and the financial institution. The financial institution, or the financier, will purchase an asset from a customer and the price that they pay for the asset will be disbursed by the terms that the financial institution lays out.Because of this the asset that is purchased is one that the payments are deferred and the price paid will be done so in installments. The second sale in this type of Islamic finance is done so in order to make the customer obliged to the financial institution. Commutative contracts Commutative contracts are those in which what is done, given, or promised by one party is considered same as the other or in consideration of what is done, given or promised by the other. A contract of sale is an example of a commutative contract.Put in a simple form, commutative contracts are contracts where the contracting parties give and receive something similar or an equivalent. An Example is a sale at less than two thirds of the value. Non-Commutative contract A non-compensatory contract in which a property is donated by one party to another against no consideration. The donor transfers ownership of the property to the done free of any commitment or obligation. Refrences http://www. ukessays. com/essays/economics/short-selling. php http://jazaa. rg/knowledge-center/islamic-finance-terminology/h/hamish-jiddiyah/ http://www. almustafatrust. org/content/Donate/Islamic/types/waqf. htm http://legal-dictionary. thefreedictionary. com/Valid+Contract http://www. trainagents. com/DesktopModules/EngageCampus/CourseContent. aspx? ModuleType=StudentMyCourses;CrsPageType=Topic;CourseRecordID=107;LessonRecordID=1372;TopicRecordID=24861;Demo=True http://definitions. uslegal. com/c/commutative-contracts/ http://majdbakir. com/islamic-finance/n/noncommutative-contract. html