Dwnload Full Financial Management For Public Health and Not For Profit Organizations 3rd Edition Finkler Test Bank PDF

Financial Management For Public Health And Not-For-Profit Organizations 3rd Edition Finkler
Financial Management For Public

Health And Not-For-Profit
Organizations 3rd Edition Finkler Test
Bank
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Financial Management For Public Health And Not-For-Profit Organizations 3rd Edition Finkler
NEW YORK UNIVERSITY

ROBERT F. WAGNER GRADUATE SCHOOL OF PUBLIC SERVICE
P11.1021: Financial Management
Midterm Examination SOLUTIONS
Professors Rose, Forsythe, and Calabrese
Fall 2006
Name: ________________________________________________
Student ID: ____________________________________________
PLEASE CIRCLE YOUR SECTION
TUESDAY TUESDAY WEDNESDAY WEDNESDAY

12:30 pm 6:20 pm 12:30 pm 6:20 pm
Directions:
1) As a courtesy to your classmates, please turn off electronic devices such as cell phones
and pagers. You have 135 minutes to complete the exam.
2) Print your initials at the top of each page.
3) You may use one page of notes. Place all other written materials on the floor.
4) You may use, but not share, a calculator. Remember to clear your calculator before
each calculation (2nd F, then C – CE). If you do not, you may get the wrong answers.
5) Look through the entire exam before you begin.
6) The points for each question are indicated in parentheses next to the question.
7) Hand in your exam plus all other papers (including your one page of notes).
Good Luck!
===============================================================
This section for Graders:
1 _______ 2 ________ 3 _______ 4 ________ 5 _______ 6 ________
7 _______ 8 ________
Total Points __________ X 40% = Course Points _________
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1. (2 points) In one sentence, define a budget.
A budget is a plan.
A plan indicating management’s objectives and how it intends to reach those
objectives. [2]
Something comparable for full credit.
2. (2 points) Working capital management focuses on making sure that an

organization has sufficient resources to operate:
i. in accordance with its mission
ii. over the next year [2]
iii. efficiently
iv. over the expected life of the organization
3. (10 points) The Wagner Student Association (WSA) is planning a fundraising

event for the spring semester. The WSA is planning to hire the Dizzy Gillespie
Heritage Band as entertainment for a fee of $750. The Schomberg Museum was
selected as the site for the event. The Museum will charge the WSA $600 for the
use of its banquet room. Sylvia’s Restaurant was selected to cater the event.
Sylvia’s Restaurant will charge the WSA a flat fee of $400 and an additional
charge of $20 per meal.
a) (5 points) The WSA expects a total of 250 students and alumni to attend its
spring fundraising event. What is the break-even ticket price?
Fixed Cost = $750 + 600 + 400 = $1,750 [2]; Unit Variable Cost = $20 [1/2];
BEQ = 250 [1/2]
students 250 = 1,750/ (p – 20) : p = $27[2]
b) (5 points) The WSA is considering charging two different ticket prices: $25
for students and $75 for alumni. If the expected ratio of students to alumni is three
to one, how many student tickets and how many alumni tickets must each be sold
in order for the spring fundraising event to break even?
Contribution margin on student tickets = $25 – $20 = $5 Contribution margin on

alumni tickets = $75 – $20 = $55 Weighted average contribution margin = $5 *
75% + $55 * 25% = $17.50 BEQ = $1,750[1] / $17.50 [1]= 100[1]: 75
students [1] and 25 alumni[1]
1
4. (10 points) The Port Authority of New York and New Jersey (PANYNJ) is
deciding whether to purchase cranes manufactured by Paceco or Tripoli for use in
its marine terminals. While the Tripoli cranes have a lower purchase price, they
are more expensive to maintain annually and must be replaced sooner than the
Paceco cranes. The Tripoli cranes have useful lives of 5 years, while the Paceco
cranes have useful lives of 10 years. The cash flows related to each of the choices
are presented below. If the PANYNJ’s cost of capital is 7%, which company’s
cranes should the PANYNJ buy? Show your work.
Year Paceco Tripoli

0 (300,000) (125,000)
1 (20,000) (30,000)
2 (20,000) (30,000)
3 (20,000) (30,000)
4 (20,000) (30,000)
5 (20,000) (30,000)
6 (20,000)
7 (20,000)
8 (20,000)
9 (20,000)
10 (20,000)
Total (500,000) (370,000)
Paceco
Annual Costs PMT = 20,000, N = 10, I = 7%, PV = ? =140,471.63[1/2]
Net Present Cost = 300,000[1/2] + 140,471.63 = 440,471.63[1/2]
Annualized Cost PV = 440,471.63, N = 10, I = 7%, PMT = ? = 62,713.25 [3]
Tripoli
Annual Costs PMT = 30,000, N = 5, I = 7%, PV = ? = 123,005.92[1/2]
Net Present Cost = 125,000[1/2] + 123,005.92 = 248,005.92[1/2]
Annualized Cost PV = 248,005.92, N = 5, I = 7%, PMT = ? = 60,486.34 [3]
Select Tripoli. Lower annualized cost. [1]
2
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Financial Management For Public Health And Not-For-Profit Organizations 3rd Edition Finkler

Financial Management For Public

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NEW YORK UNIVERSITY

Student ID: ____________________________________________

PLEASE CIRCLE YOUR SECTION

TUESDAY TUESDAY WEDNESDAY WEDNESDAY

2) Print your initials at the top of each page.

5) Look through the entire exam before you begin.

1 _______ 2 ________ 3 _______ 4 ________ 5 _______ 6 ________

Total Points __________ X 40% = Course Points _________

Visit TestBankFan.com to get complete for all chapters

2. (2 points) Working capital management focuses on making sure that an

i. in accordance with its mission

ii. over the next year [2]

iv. over the expected life of the organization

3. (10 points) The Wagner Student Association (WSA) is planning a fundraising

Contribution margin on student tickets = $25 – $20 = $5 Contribution margin on

Year Paceco Tripoli

Annual Costs PMT = 20,000, N = 10, I = 7%, PV = ? =140,471.63[1/2]

Net Present Cost = 300,000[1/2] + 140,471.63 = 440,471.63[1/2]

Annualized Cost PV = 440,471.63, N = 10, I = 7%, PMT = ? = 62,713.25 [3]

Annual Costs PMT = 30,000, N = 5, I = 7%, PV = ? = 123,005.92[1/2]

Net Present Cost = 125,000[1/2] + 123,005.92 = 248,005.92[1/2]

Annualized Cost PV = 248,005.92, N = 5, I = 7%, PMT = ? = 60,486.34 [3]

Select Tripoli. Lower annualized cost. [1]

• You provide, in accordance with paragraph 1.F.3, a full refund of

1.E.9. If you wish to charge a fee or distribute a Project Gutenberg™

1.F.1. Project Gutenberg volunteers and employees expend

1.F.2. LIMITED WARRANTY, DISCLAIMER OF DAMAGES - Except

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1 ___ 2 3 _ 4 __ 5 _ 6 ______

Total Points __ X 40% = Course Points _