Data used in budgeting:

Actual results for December:

Kingston Company produces precision components. Kingston has 2 customer groups. One group, with 4 large customers, accounts for 60 percent of the sales. The remaining group, consisting of 20 small customers, accounts for the rest of the sales. Data for Q1 2020 concerning Kingston's customer group activity follow:

Q1 indirect costs consist of order-filling costs of $360,000 and sales-force costs of $300,000.

Kingston defines Group Profit = Sales revenue – Manufacturing costs – indirect costs

Required:

1. Allocate the indirect costs to the customer groups based on sales revenue. This represents a traditional allocation approach. Determine the group profit of each of the two groups of customers.
2. Allocate the indirect costs to the customer groups using an activity-based costing approach. Order-filling costs should be allocated based on orders placed and sales force costs allocated based on number of sales calls. Determine the group profit of each of the two groups of customers.
3. Briefly compare the results of the two alternatives. Which method of allocation provides a better assessment of actual performance?

Kingston Company produces precision components. Kingston has 2 customer groups. One group, with 4 large customers, accounts for 60 percent of the sales. The remaining group, consisting of 20 small customers, accounts for the rest of the sales. Data for Q1 2020 concerning Kingston's customer group activity follow:

Q1 indirect costs consist of order-filling costs of $360,000 and sales-force costs of $300,000.

Kingston defines Group Profit = Sales revenue – Manufacturing costs – indirect costs

Required:

1. Allocate the indirect costs to the customer groups based on sales revenue. This represents a traditional allocation approach. Determine the group profit of each of the two groups of customers.
2. Allocate the indirect costs to the customer groups using an activity-based costing approach. Order-filling costs should be allocated based on orders placed and sales force costs allocated based on number of sales calls. Determine the group profit of each of the two groups of customers.
3. Briefly compare the results of the two alternatives. Which method of allocation provides a better assessment of actual performance?

Kingston Company produces precision components. Kingston has 2 customer groups. One group, with 4 large customers, accounts for 60 percent of the sales. The remaining group, consisting of 20 small customers, accounts for the rest of the sales. Data for Q1 2020 concerning Kingston's customer group activity follow:

Q1 indirect costs consist of order-filling costs of $360,000 and sales-force costs of $300,000.

Kingston defines Group Profit = Sales revenue – Manufacturing costs – indirect costs

Required:

1. Allocate the indirect costs to the customer groups based on sales revenue. This represents a traditional allocation approach. Determine the group profit of each of the two groups of customers.
2. Allocate the indirect costs to the customer groups using an activity-based costing approach. Order-filling costs should be allocated based on orders placed and sales force costs allocated based on number of sales calls. Determine the group profit of each of the two groups of customers.
3. Briefly compare the results of the two alternatives. Which method of allocation provides a better assessment of actual performance?

Agee Storage issued 35 million shares of its $1 common stock at $16 a share on July 1, 2006

Agee reacquired to retire 1 million shares at $14 a share on September 12, 2006.

Agee reacquired 4 million shares as treasury stock at $11 a share on October 7, 2006

Agee issued 3 million shares of treasury stock at $8.50 a share on November 1, 2006

Record all of the applicable general journal entries and post to T-Accounts

(check figure: after all entries have been recorded - APIC account = (510,000,000) & Treasury Stock = 11,000,000)

The federal government calculates its budget on a fiscal year that begins each year on October 1 and ends the following September 30. At the beginning of the 2003-2004 fiscal year, the Department of Finance forecast that the federal budget surplus for the fiscal year would be $4.0 billion. The actual budget surplus for the fiscal year was $9.1 billion. Federal expenditures were $1.7 billion less than the Department had forecast, and federal revenue was $1.5 billion more that the Department had forecast. The remainder of the surplus came from lower-than-forecast debt charges. a) Is it likely that the economy grew faster or more slowly during fiscal 2003-2004 than the Department of Finance had expected? Explain your reasoning. b) Suppose that the federal government was committed to balancing the budget each year. What actions of the government would have led to a balanced budget? And what will be the economic consequences? Explain. c) Does the surprise surplus during fiscal 2003-2004 provide any insight into difficulties that might arise in trying to balance the budget every year? Explain.

part a

calculate the sample autocorrelation function and provide an interpretation

part b

construct an individual control chart with the standard deviation estimated using the moving range method. how would ypu interpret the chart? are ypu comfortable with this interpretation?

data

2048, 2025, 2017, 1995, 1983, 1943, 1940, 1947, 1972, 1983, 1935, 1948, 1966, 1954, 1970, 2039, 2015, 2021, 2010, 2012, 2003, 1979, 2006, 2042, 2000, 2002, 2010, 1975, 1983, 2021, 2051, 2056, 2018, 2030, 2023, 2036, 2019, 2000, 1986, 1952, 1988, 2016, 2002, 2004, 2018, 2002, 1967, 1994, 2001, 2013, 2016, 2019, 2036, 2015, 2032, 2016, 2000, 1988, 2010, 2015, 2029, 2016, 2010, 2000, 2009, 1990, 1986, 1947, 1958, 1983, 2010, 2000, 2015, 2032

The data are daily high temperatures in Atlanta for one month.

61, 61, 63, 64, 65, 66, 66, 66, 67, 68, 70, 70, 70, 71, 71, 72, 74, 74, 74, 75, 75, 75, 76, 76, 77, 78, 78, 79, 79, 94

Question 1 options:

Question 2:

The height in feet of 25 trees is shown below (lowest to highest).

21, 27, 30, 31, 31, 31, 33, 34, 34, 37, 38, 38, 38, 40, 41, 42, 43, 45, 46, 51, 51, 52, 52, 59, 59

Question 2 options:

Assume that a sample is used to estimate a population mean μ. Find the 99.5% confidence interval for a sample of size 74 with a mean of 56.3 and a standard deviation of 19.1. Enter your answer as an open-interval (i.e., parentheses) accurate to 3 decimal places.

99.5% C.I. =

In a survey, 27 people were asked how much they spent on their child's last birthday gift. The results were roughly bell-shaped with a mean of $33.9 and standard deviation of $6.1. Estimate how much a typical parent would spend on their child's birthday gift (use a 98% confidence level). Give your answers to 3 decimal places.

Express your answer in the format of ¯x ±  E.
$ ± $