Question
In: Finance
Problem 5-3 Order Books (LO2, CFA1) The following order book exists for a particular stock. The...
Problem 5-3 Order Books (LO2, CFA1)
The following order book exists for a particular stock. The last trade on the stock was at $55.63.
| Buy Orders | Sell Orders | ||||||||||
| Shares | Price | Shares | Price | ||||||||
| 250 | $55.62 | 100 | $55.65 | ||||||||
| 250 | 55.61 | 600 | 55.66 | ||||||||
| 900 | 55.60 | 1,000 | 55.68 | ||||||||
| 150 | 55.58 | 850 | 55.69 | ||||||||
| 600 | 55.70 | ||||||||||
a. If you place a market buy order for 100 shares, at what price will it be filled? (Round your answer to 2 decimal places.)
b. If you place a market sell order for 100 shares, at what price will it be filled? (Round your answer to 2 decimal places.)
c. Suppose you place a market order to buy 300 shares. At what price will it be filled? Choose the appropriate answer.
-
100 shares at $55.70 and 200 shares at $55.69
-
300 shares at $55.63
-
100 shares at $55.65 and 200 shares at $55.66
-
300 shares at $55.70
Solutions
jeff jeffy answered 1 month agoRelated Solutions
The following order book exists for a particular stock. The last trade on the stock was...
The following order book exists for a particular stock. The last
trade on the stock was at $60.36.
Buy Orders
Sell Orders
Shares
Price
Shares
Price
250
$60.35
200
$60.38
150
60.34
700
60.39
900
60.33
1,000
60.41
150
60.31
550
60.42
450
60.43
a. If you place a market buy order
for 100 shares, at what price will it be filled? (Round
your answer to 2 decimal places.)
b. If you place a market sell order
for 100 shares,...
You find the following order book on a particular stock. The last trade on the stock was at $71.54.
You find the following order book on a particular stock. The
last trade on the stock was at $71.54.Buy order (bid)Sharesprice5071.5310071.0310070.5150070.49Sell order (ask)SharesPrice12571.5620071.6210071.6570071.7890071.95a. It you place a market buy order for
200 shares, at what price(s) will it be filled?b. If you place a market sell order
for 200 shares, at what price(s) will it be filled?c. If you place a market buy order for
500 shares. At what price(s) will it be filled?
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing
[LO2-1, LO2-2, LO2-3]
Landen Corporation uses a job-order costing system. At the
beginning of the year, the company made the following
estimates:
Direct labor-hours required to support
estimated production
90,000
Machine-hours required to support estimated production
45,000
Fixed manufacturing overhead cost
$
252,000
Variable manufacturing overhead cost per direct labor-hour
$
2.40
Variable manufacturing overhead cost per machine-hour
$
4.80
During the year, Job 550 was started and completed. The
following information is...
Problem 2-16 (Algo) Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order...
Problem 2-16 (Algo) Plantwide Predetermined Overhead Rates;
Pricing [LO2-1, LO2-2, LO2-3]
Landen Corporation uses a job-order costing system. At the
beginning of the year, the company made the following
estimates:
Direct labor-hours required to support estimated
production
160,000
Machine-hours required to support estimated production
80,000
Fixed manufacturing overhead cost
$
480,000
Variable manufacturing overhead cost per direct labor-hour
$
5.00
Variable manufacturing overhead cost per machine-hour
$
10.00
During the year, Job 550 was started and completed. The
following information...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing...
Problem 2-16 Plantwide Predetermined Overhead Rates; Pricing
[LO2-1, LO2-2, LO2-3]
Landen Corporation uses a job-order costing system. At the
beginning of the year, the company made the following
estimates:
Direct labor-hours required to support estimated
production
155,000
Machine-hours required to support estimated production
77,500
Fixed manufacturing overhead cost
$
465,000
Variable manufacturing overhead cost per direct labor-hour
$
4.80
Variable manufacturing overhead cost per machine-hour
$
9.60
During the year, Job 550 was started and completed. The
following information is...
Problem 1-3 Calculating Returns (LO1, CFA1) Suppose you bought 600 shares of stock at an initial...
Problem 1-3 Calculating Returns (LO1, CFA1)
Suppose you bought 600 shares of stock at an initial price of
$38 per share. The stock paid a dividend of $0.30 per share during
the following year, and the share price at the end of the year was
$33.
a. Compute your total dollar return on this
investment. (A negative value should be indicated by a
minus sign.)
b. What is the capital gains yield? (A
negative value should be indicated by a...
Problem 8-3 Simple Moving Averages (LO4, CFA1) The table below shows the closing monthly stock prices...
Problem 8-3 Simple Moving Averages (LO4, CFA1) The table below
shows the closing monthly stock prices for IBM and Amazon.
Calculate the simple three-month moving average for each month for
both companies. (Input all amounts as positive values. Do not round
intermediate calculations. Round your answers to 2 decimal places.)
IBM AMZN January $ 179.84 $ 625.01 February 180.09 631.76 March
201.55 562.79 April 218.42 550.90 May 188.53 493.66 June 212.31
485.98 July 245.13 608.79 August 194.32 533.31 September 224.39...
Problem 2-25A Schedule of Cost of Goods Manufactured; Overhead Analysis [LO2-1, LO2-2, LO2-3, LO2-6, LO2-7] Gitano...
Problem 2-25A Schedule of Cost of Goods Manufactured;
Overhead Analysis [LO2-1, LO2-2, LO2-3, LO2-6, LO2-7]
Gitano Products operates a job-order costing system and applies
overhead cost to jobs on the basis of direct materials used in
production (not on the basis of raw materials
purchased). Its predetermined overhead rate was based on a cost
formula that estimated $108,000 of manufacturing overhead for an
estimated allocation base of $90,000 direct material dollars to be
used in production. The company has provided...
Exercise 2-6 Job-Order Costing for a Service Company [LO2-1, LO2-2, LO2-3] Tech Solutions is a consulting...
Exercise 2-6 Job-Order Costing for a Service Company [LO2-1,
LO2-2, LO2-3]
Tech Solutions is a consulting firm that uses a job-order
costing system. Its direct materials consist of hardware and
software that it purchases and installs on behalf of its clients.
The firm’s direct labor includes salaries of consultants that work
at the client’s job site, and its overhead consists of costs such
as depreciation, utilities, and insurance related to the office
headquarters as well as the office supplies that...
The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.]...
The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4]
[The following information applies to the questions
displayed below.]
Sweeten Company had no jobs in progress at the beginning of
March and no beginning inventories. The company has two
manufacturing departments--Molding and Fabrication. It started,
completed, and sold only two jobs during March—Job P and Job Q. The
following additional information is available for the company as a
whole and for Jobs P and Q (all data and questions relate to the
month...
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