The Rise of China" Please respond to the following: Describe the principal effects of China’s increasing prosperity on U.S./China relations. Is the rise of China a good thing or a bad thing for the U.S.? Explain your answer.

Begin each writing assignment by identifying the question number you are answering followed by the actual question itself (in bold type).

 • Use a standard essay format for responses to all questions (i.e., an introduction, middle paragraphs and conclusion).

• All responses must be typed double-spaced, using a standard font (i.e. Times New Roman) and 12 point type size for ease of reading and grading.

350-500 words

Unit 3

Question 1.  Explain some major theories on the concept of reality.

Describe a JIT principle used at a past or present workplace
or one with which you are personally familiar. Focus on the key areas of JIT.
Have the results been positive or negative? Detail what improvements or changes
would result in a more effective program

Roxana Sims is the budget director for Walker House, Inc., a multinational  company based in Maryland. Walker House, Inc., organizes and coordinates art shows and auctions throughout the world.  Budgeted and actual costs and expenses for 2015 are compared in the following schedule.

     2015 Amounts

Expense items                             Budget           Actual

Salaries expense, staging             $480,000       $512,800

Salaries expense, executive          380,000          447,200

Travel costs                                   640,000          652,020

Auctioneer services                       540,000          449,820

Space rental costs                         251,000          246,580

Printing costs                                 192,000           182,500

Advertising expense                      169,000            183,280

Insurance, merchandise                   84,800             77,300

Insurance, liability                             64,000              67,100

Home office costs                           209,200            219,880

Shipping costs                                105,000             112,560

Miscellaneous                                  25,000                25,828

Total expenses                          $3,140,000          $3,176,868

Net sales                                  $6,200,000           $6,369,200

For 2016, the following fixed costs have been budgeted: executive salaries, $440,000; advertising expense, $190,000; merchandise insurance, $80,000; and liability insurance, $68,000.  Additional information follows.

a.  Net sales are expected to be $6,400,000 in 2016.

b.  Salary expenses for staging will increase 20 percent over actual figures for 2015.

c.  Travel costs are expected to be 11 percent of net sales.

d.  Auctioneer services will be billed at 9.5 percent of net sales.

e.  Space rental costs will go up 20 percent from 2015 budgeted amounts.

f.  Printing costs are expected to be $190,000 in 2016.

g.  Shipping costs are expected to rise 20 percent over 2015 budgeted amounts.

h.  Miscellaneous expenses for 2016 will be budgeted at $28,000.

i.  Home office costs are budgeted for $230,000 for 2016.

Required: Questions 

a)  Prepare the company’s budgeted income statement for 2016. 

b)  Should the budget director be worried about the trend in the company’s operations? Be specific.