Gale, McLean, and Lux are partners of Burgers and Brew Company with capital balances as follows: Gale, $91,000; McLean, $83,000; and Lux, $154,000. The partners share profit and losses in a 3:2:5 ratio. McLean decides to withdraw from the partnership. Prepare General Journal entries to record the May 1, 2017, withdrawal of McLean from the partnership under each of the following unrelated assumptions:

a. McLean sells his interest to Freedman for $175,000 after Gale and Lux approve the entry of Freedman as a partner (where McLean receives the cash personally from Freedman).

Record the admission of Freedman.

b. McLean gives his interest to a son-in-law, Park. Gale and Lux accept Park as a partner.

Record the admission of Park.

c. McLean is paid $83,000 in partnership cash for his equity.

Record withdrawal of McLean, where he is paid $83,000 in partnership cash for his equity.

d. McLean is paid $139,000 in partnership cash for his equity.

Record the withdrawal of McLean assuming, he is paid $139,000 in partnership cash for his equity.

e. McLean is paid $34,250 in partnership cash plus machinery that is recorded on the partnership books at $122,000 less accumulated depreciation of $90,000. (Round final answers to 2 decimal places.)

Record the withdrawal of McLean assuming, he is paid $34,250 in partnership cash plus machinery that is recorded on the partnership books at $122,000 less accumulated depreciation of $90,000.

1. A manufacturing company manufactures a cardboard box with a square base and a height of 15 inches. Suppose the equation x² +60x- 7,200 = 0 can be used to find the length and width of the base of the box, each measuring x inches.

Write the equation in factored form.

Use the zero product property to solve the equation. Show all the steps needed to find both answers.

Explain how the solution relates to this situation

2. City engineers decide to build a rectangular dog park that has an area of 3,600 square yards, where the length of the park is 10 more yards than twice its width. The equation x² +5x-1,800 = 0 can be used to find the width of the dog park.

Write the equation in factored form

Use the zero product property to solve the equation. Show all the steps needed to find both answers.

Explain how the solution relates to this situation.

3. A graphic designer uses a photo editing program to increase both the height and width of a square image by 3 inches. Suppose the equation x² +6x-55 = 0 can be used to find the height and width of the original image.

Write the equation in factored form.

Use the zero product property to solve the equation. Show all the steps needed to find both answers.

Explain how the solution relates to this situation.

Let x be a random variable that represents the weights in kilograms (kg) of healthy adult female deer (does) in December in a national park. Then x has a distribution that is approximately normal with mean μ = 64.0 kg and standard deviation σ = 7.7 kg. Suppose a doe that weighs less than 55 kg is considered undernourished.

(a) What is the probability that a single doe captured (weighed and released) at random in December is undernourished? (Round your answer to four decimal places.) Incorrect: Your answer is incorrect.

(b) If the park has about 2250 does, what number do you expect to be undernourished in December? (Round your answer to the nearest whole number.) Incorrect: Your answer is incorrect. does

(c) To estimate the health of the December doe population, park rangers use the rule that the average weight of n = 55 does should be more than 61 kg. If the average weight is less than 61 kg, it is thought that the entire population of does might be undernourished. What is the probability that the average weight x for a random sample of 55 does is less than 61 kg (assuming a healthy population)? (Round your answer to four decimal places.) Incorrect: Your answer is incorrect.

(d) Compute the probability that x < 65.1 kg for 55 does (assume a healthy population). (Round your answer to four decimal places.)

Mini Case Study – Sales and Marketing at the Edgewater Hotel Seattle Set on the Pier 67 in the Seattle Central Waterfront, the Edgewater is one of the most iconic properties in all of the Pacific Northwest. The hotel first opened as a temporary building, meant to attract visitors for the 1962 World's Fair. Today has built a rich history to match its ideal location and luxurious furnishings, but there’s a growing debate among the Sales & Marketing team about the direction of its market positioning. Bob Peckenpaugh, General Manger of the property, needs your help in deciding on their strategy A History of Rock ‘n Roll The Edgewater became famous both inside and outside of Seattle for hosting some of the biggest names in music. During the height of the “British Invasion” of America, the Beatles helped put the Edgewater on the map. A few months after the Beatles famous set on the Ed Sullivan Show, the Beatles spent the third stop on their first tour of America at the (then named) Edgewater Inn. Seattle hotel owners were afraid of riots and damage from a visit, so Don Wright, then Manager of the property took them in as he knew they would get a lot of attention for the Edgewater Inn. He was right.

1. Who do you think are the customers of Edgewater today? Does that align with the product?

2. What approach option do you think that Bob should take? Why is that the right approach or why are the other options the wrong approach?

Prem Narayan, a graduate student in engineering, to market a radical new speaker he had designed for automobile sound systems, founded Acoustic Concepts, Inc. Prem established the company’s headquarters into rented quarters in a nearby industrial park. He hired a receptionist, an accountant, a sales manager, and a small sales staff to sell the speakers to retail stores. Prem asked his accountant, Bob Luchinni, to prepare several cost-volume-profit analyses, using the information shown below.

Sales price for one speaker set................................................... $250 Variable manufacturing cost for each speaker set (direct
materials) ................................................................................... $150 Fixed expenses per month (rent, salaries of receptionist, sales

people, accountant, and Prem)................................................... $35,000 Number of speaker sets sold per month..................................... 400

Prem and other management personnel are considering the use of higher-quality components, which would increase variable costs by $10 per speaker. However, the sales manager predicts that the higher overall quality would increase sales to 480 speaker sets per month. Should the higher quality components be used?

The sales manager believes that by reducing the selling price of speakers by $20, and also by increasing the advertising budget by $15,000 per month, that sales will increase to 600 speaker sets per month. Should the changes be made?

The sales manager would like to place the sales staff on a commission basis of $15 per speaker sold, rather than on flat salaries that now total $6,000 per month. The sales manager is confident that the change will increase monthly sales to 460 speaker sets per month. Should the change be made?

Suppose Acoustic Concepts has an opportunity to make a bulk sale of 150 speakers to a wholesaler, if an acceptable price can be worked out. The sale would not disturb the company’s regular sales, nor would if affect fixed operating costs per month. What price should be quoted to the wholesaler if Acoustic Concepts wants to increase its monthly profits by $3,000?

 C.M.=contribution margin, S.P.=sales price, V.C.=variable cost, F.C.=fixed cost

 C.M. per unit = S.P. per unit – V.C. per unit

 The break even point is the point at which the total contribution margin equals fixed costs.

 Break even units sold = F.C. / C.M. Per unit

 Break even sales dollars = F.C. / C.M. Percentage

 C.M. Percentage = C.M. per unit / S.P. per unit, or C.M. (total) / Sales (total)

The owner of Gino’s Pizza restaurant chain believes that if a restaurant is located near a college campus, then there is a linear relationship between sales and the size of the student population. Suppose data are collected from a sample of n = 10 Gino’s Pizza restaurants located near college campuses with the following reported sample statistics:

We want to find the equation of the least-squares regression line predicting quarterly pizza sales (y) from student population (x).

1. Estimate and interpret the sample correlation between population and sales.

= .95  There is high or a true correlation between sales of pizza and student population. Because of high correlation, an upward slope linear relationship between x and y exists.

2. Estimate the slope of the linear regression equation of Sales on Population where Population is the dependent variable.

3. Estimate the intercept of the linear regression equation of Sales on Population where Population is the dependent variable.

4. Compute the Total Sum of Squares (SST)

This is for a hotel that would be located in the University of the Virgin Islands

Section VI: Marketing Strategies

Unit-level goals and strategies

A.        Marketing: At least five items need to be identified as part of the Marketing Strategy

1. Target market: should identify the primary customers of the business. This should include demographics including age ranges, socioeconomic status, customer locations.

2. Product mix strategy: this should consist of a description of the services offered at Lovango Key Resort. Current and Future. If you are not sure, research product mix.

3. Pricing strategy Pricing strategy should follow the product strategy. Thus, your work must state if the prices are higher, lower, or match the competition. You must defend your strategy as to why you have chosen this strategy. Be articulate.

4. Promotion and selling strategy: The promotion strategy is one key part of the overall marketing strategy. What promotional strategy will be developed? What is the recommended budget for advertising and other promotional activities. State what the promotional activities are planned. State what media you may plan for. How much does this cost per event? (hint, you must research costs. BE SURE TO CITE YOUR WORK and RESEARCH). It may be good to create a 1 year promotional plan to insert as part of this section of the strategic plan.

5. Service Strategy: Service strategy should be strait forward and outline the day-to-day service policies. This section should focus on the degree of service.

Consider the natural log transformation (“ln” transformation) of variables labour cost (L_COST), and total number of rooms per hotel (Total_Rooms). 4.1 Use the least squares method to estimate the regression coefficients b0 and b1 for the log-linear model 4.2 State the regression equation 4.3 Give the interpretation of the regression coefficient b1. 4.4 Give an interpretation of the coefficient of determination R2 . Also, test the significance of your model using the F-test. How, does the value of the coefficient of determination affect the outcome of the above test? 4.5 Test whether a 1% increase of the total number of rooms per hotel can increase the labour cost by more than 0.20%? Use the 5% level of significance for this test.

L_COST   Total_Rooms     
2.165.000   412     
2.214.985   313     
1.393.550   265     
2.460.634   204     
1.151.600   172     
801.469   133     
1.072.000   127     
1.608.013   322     
793.009   241     
1.383.854   172     
494.566   121     
437.684   70     
83.000   65     
626.000   93     
37.735   75     
256.658   69     
230.000   66     
200.000   54     
199.000   68     
11.720   57     
59.200   38     
130.000   27     
255.020   47     
3.500   32     
20.906   27     
284.569   48     
107.447   39     
64.702   35     
6.500   23     
156.316   25     
15.950   10     
722.069   18     
6.121   17     
30.000   29     
5.700   21     
50.237   23     
19.670   15     
7.888   8     
3.500   15     
112.181   18     
30.000   10     
3.575   26     
2.074.000   306     
1.312.601   240     
434.237   330     
495.000   139     
1.511.457   353     
1.800.000   324     
2.050.000   276     
623.117   221     
796.026   200     
360.000   117     
538.848   170     
568.536   122     
300.000   57     
249.205   62     
150.000   98     
220.000   75     
50.302   62     
517.729   50     
51.000   27     
75.704   44     
271.724   33     
118.049   25     
40.000   30     
10.000   10     
10.000   18     
70.000   73     
12.000   21     
20.000   22     
36.277   25     
36.277   25     
10.450   31     
14.300   16     
4.296   15     
379.498   16     
1.520   22     
45.000   12     
96.619   34     
270.000   37     
60.000   25     
12.500   10     
1.934.820   270     
3.000.000   261     
1.675.995   219     
903.000   280     
2.429.367   378     
1.143.850   181     
900.000   166     
600.000   119     
2.500.000   174     
1.103.939   124     
363.825   112     
1.538.000   227     
1.370.968   161     
1.339.903   216     
173.481   102     
210.000   96     
441.737   97     
96.000   56     
177.833   72     
252.390   62     
377.182   78     
111.000   74     
238.000   33     
45.000   30     
50.000   39     
40.000   32     
61.766   25     
166.903   41     
116.056   24     
41.000   49     
195.821   43     
96.713   20     
6.500   32     
5.500   14     
4.000   14     
15.000   13     
9.500   13     
48.200   53     
3.000   11     
27.084   16     
30.000   21     
20.000   21     
43.549   46     
10.000   21     

Samuelson and Messenger (S&M) began 2018 with 200 units of its one product. These units were purchased near the end of 2017 for $25 each. During the month of January, 100 units were purchased on January 8 for $28 each and another 200 units were purchased on January 19 for $30 each. Sales of 125 units and 100 units were made on January 10 and January 25, respectively. There were 275 units on hand at the end of the month. S&M uses a perpetual inventory system.

Required:
1. Complete the below table to calculate ending inventory and cost of goods sold for January using FIFO method.
2. Complete the below table to calculate ending inventory and cost of goods sold for January using average cost method.