On the First Day of Class Your Professor Distributed a Syllabus

question 17

Essay

On the first day of class your professor distributed a syllabus that promised to base your course grade on a series of unannounced exams and a massive group project.As you scanned the room that day,you noted that many of your classmates did not share your enthusiasm for the subject and many were C students at best.You felt that your perfect 4.0 GPA was at stake if the professor's almost diabolical grading scheme were to be implemented.You decided right away that it was up to you to negotiate a grading scheme of equal parts class attendance,open book quizzes,and trivial homework assignments.How should you prepare for the negotiation and how should you proceed?

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Definitions:

Contribution Margin

The profit remaining after variable costs have been subtracted from revenue, indicating how much contributes to covering fixed costs and generating profit.

Variable Cost

Variable costs are expenses that change in proportion to the activity of a business, such as materials and labor costs.

Fixed Manufacturing Overhead

Consists of production costs that do not change with the volume of manufacturing activity, such as rent for the manufacturing facilities or salaries of plant managers.

Deferred

Postponed or delayed, often referring to expenses or revenues that are recognized at a date later than when they were incurred or earned.