Accounting : Hillyard Company

Question: #403

Write a program that simulates the operation of a busy airport that has only 2 runways to handle all takeoffs and landings. You may assume that each takeoff or landing takes 15 minutes to complete. One runway request is made during each five-minute interval, and the likelihood of a landing request is the same as for a takeoff request. Priority is given to planes requesting a landing. If a request cannot be honored, it is added to a takeoff or a landing queue.

Your program should simulate 120 minutes of activity at the airport. Each request for runway clearance should be time-stamped and added to the appropriate queue. The outputs of your program should include the final queue contents, the number of landings and takeoffs completed, and the average number of minutes spent in each queue.

Use a uniform random number generator to determine if a request is a landing request or a take-off request. Seehttp://www.cplusplus.com/reference/clibrary/cstdlib/rand/ for information on the basic C++ random number generator function rand. You MAY use STL data structures in the work.

Extra credit ( 20 points )
Instead of scheduling requests at a fixed five-minute interval, use a random number to determine the interval between takeoff or landing requests. Use an exponential random number for the interval. Show how the performance between this model and the base model differ.

Solution: #423

Accounting : Hillyard Company

Cost of Production

Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter:

As of December 31, (the end of the prior quarter), the company’s general ledger showed the following account balances:

Cash $48,000 (debit)

Accounts receivable $224,000 (debit)

Inventory $60,000 (debit)

Buildings and equipment, net $370,000 (debit)

Accounts payable $93,000 (credit)

Capital stock $500,000 (credit)

Retained earnings $109,000 (credit)
Actual sales for December and budgeted sales for the next four months are as follows: December $280,000, January $400,000, February $600,000, March $300,000 and April $200,000.
Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following sale. The accounts receivable at December 31 are a result of December credit sales.
The company’s gross margin is 40% of sales. (In other words, cost of goods sold is 60% of sales.)
Monthly expenses are budgeted as follows: salaries and wages, $27,000 per month; advertising, $70,000 per month; shipping, 5% of sales; other expenses, 3% of sales. Depreciation, including depreciation on new assets acquired during the quarter, will be $42,000 per quarter.
Each month’s ending inventory should equal 25% of the following month’s cost of goods sold.
One-half of the month’s inventory purchases is paid for in the month of purchase; the other half is paid in the following month.
During February, the company will purchase a new copy machine for $1,700 cash. During March, other equipment will be purchased for cash at a cost of $84,500.
During January, the company will declare and pay $45,000 in cash dividends.
Management wants to maintain a minimum cash balance of $30,000. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter.