Orlando Amusement Park in Tampa Case Study Assignment
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Orlando Amusement Park in Tampa Case Study Assignment
Question Description
Orlando Amusement Park in Tampa, FL announced on August 1, 2018 that they will have a new attraction for the 2019 season. The new ride is called “Space Swirl” and is a river boat ride that will replace the existing attraction “Lazy River”. Orlando will also be renovating the Main Hall for the 2019 season. In order to build the “Space Swirl” the existing ride (located in the same space) “Last River” had to be removed. The “Space Swirl” will be built on the same site as the “Lazy River” once it is removed.
The Main Hall renovation will require extensive interior upgrades to the existing facility.
Cypress & Co., Inc. is an amusement park contracting company and has extensive experience constructing rides/buildings for amusement parks in the United States.
On August 1, 2018
Cypress & Co., Inc. and Orlando entered into a written agreement for Cypress & Co. to remove the existing “Lazy River” ride, build “Space Swirl” and to renovate the Main Hall at Orlando. The target completion date of all construction is May 15, 2019. Other companies could have also removed the existing ride and renovated the Main Hall, however Orlando decided to hire one company to do all of the work. Orlando has excellent credit.Payment terms are as follows:
Total price to remove existing “Lazy River”, construct “Space Swirl” and renovate the Main Hall: $8,000,000. The “Space Swirl” has a one-year base warranty on all machinery and Orlando also elected to purchase the 5-year extended warranty for $1,000,000 for a total purchase price of $9,000,000. Standalone pricing for this job were as follows: Removal of “Lazy River”: $2,000,000, Construction of “Space Swirl”: $6,000,000, renovation of Main Hall: $3,000,000, Extended Warranty$1,000,000.
Orlando has agreed to pay Cypress & Co. 15 months after the completion of “Space Swirl” and the Main Hall renovation. Interest rates on comparable projects are 4% and equates to $350,000 for the 15 months.
Orlando is offering Cypress & Co. an incentive to ensure completion of the construction of the “Space Swirl” on a timely basis. Orlando is offering Cypress & Co. the following incentive:
Completion of construction of Space Swirl by March 1, 2019 $400,000 Bonus
Completion of construction of Space Swirl by April 1, 2019 $200,000 Bonus
Completion of construction of Space Swirl by May 1, 2019 $ 75,000 Bonus
Completion after May 1, 2019 $ 0 Bonus
Cypress & Co. estimates that based upon their significant experience in the industry they have a 70% likelihood of completing the construction by March 1, 15% likelihood by April 1st, 10% likelihood of completion by May 1st and 5% likelihood the project will be completed on time.
Cyprid and Co.’s fiscal year is January 1-December 31 and is publicly traded.
Required:
Apply the requirements of revenue from contracts with customers. Make sure you apply the detailed guidance from the codification.
For each of the five steps: (PLEASE COMPLETE STEP 3: Determine the transaction price)
Describe how the revenue from contracts with customers applies to this transaction. For any step that is not applicable simply indicate that it is not applicable. Clearly label all of your work. Make sure you fully explain/document all of the steps and your conclusions.
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
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