Im sorry i cannot fulfill that request 29068

Name: im sorry i cannot fulfill that request 29068
Uploaded: 2023-12-11T17:42:01-08:00
Duration: 3 min 43 s
Channel: Akash M
Description: im sorry i cannot fulfill that request 29068

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Management Accounting Control Coursework 1 2023/24 (Groups of 4 maximum) WONDAENERGY plc formed in 1995 and specialise in oil exploration and production. Last year the company made sales of over £700 million and achieved a net profit pre -tax of £68 million, based on an equity employed of £240 million, as announced in the annual report for their year ended 31 December 2022. The company has the option to enter into an agreement with the government of Boaland (a country with a developing economy but rich in natural resources) to develop and produce oil from the recently discovered Swift field. The government's geologists believe that there are 3,200,000 barrels of oil in this specific off-shore field under consideration. The contract states that all development, production and transportation operations will be the responsibility of WONDAENERGY but that 40% of any oil extracted will be the property of the Bravaland government. The government will pay their share of costs (i.e. 40%) but only those relating to the variable costs of production and the transportation costs. WONDAENERGY's geologists believe that they are confident that 70% of the reserves predicted by the government are certain. WONDAENERGY's geologists estimates should be used in all calculations. The company will only extract the oil and transport it to the wholesale market on the mainland. Production is expected to be released from the field as follows: 2025 10%; 2026 17%; 2027 28%; 2028 20%; 2029 10%; 2030 10%; 2031 3%; 2032 2%. The price of oil at present at the wholesale market is £60 per barrel. The variable costs of production are £31 per barrel. The company has already undertaken initial exploration research costing £500,000 of which 60% has been paid and the remainder will be paid at the start of 2024. There are incremental fixed costs attached to the project of £1,400,000 per annum regarding support costs for the project once production commences. In addition to this there are transportation costs, which is an area of difficulty to the company as there is no oil pipe network within the near vicinity. The company has therefore outsourced this to a tanker transportation company who specialise in moving oil from source to market. However, the costs being charged is a fixed cost based on volumes extracted each year. The costs behave in a stepped fashion at £500,000 for the first 300,000 barrels of oil transported in a year jumping to £900,000 for volumes over this. In addition to these costs there will be development costs of £750,000 in 2024. On completion of production there are environmental reinstatement costs of £1,300,000. There will be initial capital expenditure of £9,000,000 at the start of 2024 to set-up and equip the drilling sites. It is estimated that the lease when operational will have a life cycle of 8 years and be capped and reinstated when production ceases. At the end of this period the drill-rigs and equipment purchased in 2024 will be sold for £700,000. All figures quoted above are at current prices. Cost inflation is expected to be 1.8% per annum and is also relevant to the disposal value of the non-current assets. The oil prices are likely to rise by 1.6%. The company at present uses a pre-tax market cost of capital of 11.3%. Taxation should be ignored in all calculations.

Akash M.

In receiving terminals of petrochemical plants, some of the liquid natural gas (LNG) storage Tanks are designed to be in ground, to avoid receiving radiation from the sun and also being protected from direct hit. Even though, they are buried in the ground the top ceiling is exposed to the environment and can absorb radiation of the sun, sky and surroundings. The absorbed energy by the ceiling can increase the internal energy of the stored liquid methane and at some the liquid methane will evaporate. Evaporated methane will increase the pressure of the tank can cause catastrophe. To avoid any accident a boil-off gas compressor with 0.2% volume full tank capacity per day discharge is installed in a plant. Tank Diameter = 15 m Tank Height = 15 m Ceiling (Roof) = black body at TRoof Liquid CH4 surface = black body at TSat Side wall = gray, diffuse (ε3=0.6) at T=( TRoof+ TSat)/2 Max. Liquid depth Lmax=10 m A designer suggests modeling the tank as a three surfaces enclosure as below: a) For this assembly, find the net radiative transfer to the liquid in kW, for different values of Liquid height (5, 6, 7, ..., 10 m). b) Find if the capacity of boil-off gas compressor is sufficient to condense the flow rate of evaporated Methane? HINT: YOU NEED TO APPLY THERMAL CIRCUIT FOR RADIATION AND CALCULATED THE q2 ENTERING SURFACE 2. Thermophysical properties of Methane Critical Temperature, Tc=190.5 K, Pc=4.6 MPa Tsat= 113.15 K, Psat=1 atm. Liquid at 1atm, Tsat. Gas at 1atm, Tsat. Cp [kJ/kg. K] 3.349 2.260 ρ [kg/m3 ] 422.63 1.75 μ [N. s /m2 ] 1.17 X 10-4 4.20 X 10-6 K [W/m. K] 0.1862 0.0132 Pr (Prandtl number) 2.098 0.789 hfg [kJ/kg] (latent heat of vaporization) = 511

Patha S.

IT Experts has received a consulting engagement from Lakeshore Service Station to design a system (simulation) that would help them predict gasoline demand, order quantity, and profits. Lakeshore’s is a service station that sells gasoline to boat owners. The demand for gasoline depends on weather conditions and fluctuates according to the following distribution. Weekly Demand Probability 1000 .05 2000 .10 3000 .23 4000 .42 5000 .20 Shipments arrive once a week. Since Lakeshore is located in a remote place, it must order and accept a fixed quantity of gasoline every week. Joe, the owner, faces the following problem: If he orders too small a quantity, he will lose, in terms of lost business and goodwill, 10 cents per gallon demanded and not provided. If he orders too large a quantity, he will have to pay 6 cents per gallon shipped back due to lack of storage. For each gallon sold he makes 35 cents profit. At the present time, Joe receives 3,500 gallons at the beginning of each week before he opens for business. He feels that he should receive more, maybe 3,600 or even 3,800 gallons (with a new tank). The tank’s current capacity is 4,000 gallons. The problem is to find the best order quantity (you must answer this question at a minimum). Assume, Joe starts the first week off with 200 gallons in beginning inventory. EOQ can not be used due to the unpredictability of the weather. This problem can be solved by trial and error over time. That is, the service station can actually order each quantity for approximately 10 weeks, then compare the results. However, a simulation can give an answer in a few minutes (this is a Monte Carlo simulation and requires random numbers). Furthermore, the results of the simulation will be much more accurate, since years of operations can be simulated rather than only 10 weeks. Also, the losses are not real, they are only on paper. (modified from Turban, MIS/Database texts). THE ENGAGEMENT: (1) Lakeshore wants IT Experts to design a simulation that would help them predict demand. This simulation should be flexible enough so if conditions change (for example, probabilities or if their tank size would increase) that Lakeshore’s staff can modify the simulation based on new information. Include comments (written) within the cells and do not hardcode numbers within formulas. (2) They would also, like to see a graphical representation (vertical bar graph) of the simulated demand vs. the units sold AND a line graph of the weekly profit. (3) Also they are looking at purchasing a new business, see sheet labeled Marin’s 12 Month Trend under Course Documents. The company’s total costs and units of sales over the last 12 months are provided and they want you to run a regression analysis so they can better understand the costs (numbers do not correlate with the above situation…however, I want you to explore regression within Excel…post questions in the discussion board). Include as a separate worksheet (tab) within your file. (4) They require a training manual (documentation) in MSWord (1-2 pages in length). The manual (instructions) you would provide your client should describe how to use the file, modify the file, and interpret the data. Also, in your first paragraph you should tell your client what this system, which you just designed, will do for them…its purpose. (5) The last thing they are requesting is a NPV analysis of a new tank…if a new tank will cost $20,000 and increase net cashflow by $6,000 in the first year, and $5,200 for the next 4 years (years 2-5), should they invest in the tank if their discount rate is 10%? 15%? What is the internal rate of return? Marin’s 12 Month Trend (to be used for regression) Month units sold total cost Jan 2,100 19,800 Feb 3,000 27,000 Mar 3,700 32,600 Apr 3,800 33,400 May 4,200 36,600 Jun 5,000 43,000 Jul 4,800 41,400 Aug 4,500 39,000 Sep 3,800 33,400 Oct 3,500 31,000 Nov 3,200 28,600 Dec 2,700 24,600

Dominador T.

Transcript

00:01 So, the reserves are so first is reserves and expected production.

00:06 So, first is reserves and expected production.

00:09 So, reserves is 3 million 3 .2 million barrels multiply to 70 percent geologist confidence.

00:22 So, the answer would be equal to 2 .24 million dollars.

00:29 Now, if we talk about the expected production, so expected production for 2025 10 percent of reserve 2024 is 2026 is 17 percent of reserve 2027 is 28 percent of reserve 2028 is 20 percent of reserve 2029 is 10 percent of the reserve and 2010 percent of the reserve.

01:00 Now, if we talk about the revenue calculation, so the revenue will be calculated based on the price per barrel.

01:10 So, price per barrel is 60 dollars.

01:13 So, we will put a calculate the annual revenue.

01:17 We will multiply annual production that are given above with price per barrel to get the revenue...