As the management accountant for Pleasanton Raft Company, Inc., you have been asked to attend a planning session for the next season. The owner, Mara Mason specifically wants to be able to predict her fuel costs each coming week.
Mara typically staffs the desk at the river – answering the phone, checking in customers, and taking payment – while her staff drives the customers and rafts out to the river. Since she is not actively driving the van, it has been her process to maintain a separate bank account specifically for fuel costs, and giving the debit card tied to the account to her staff. That way, staff members can easily fill the tank on the way back from dropping off customers. To limit her risk, Mara wants to keep a low balance in this account, just sufficient to pay fuel costs for the upcoming week. To that end, she currently checks the balance in the account each Monday morning, and transfers in just enough funds to bring the balance to $275.
This past season, Mara had some cash flow issues – there were a couple of occasions this year where the company debit card was declined for insufficient funds at the gas station. This can be a serious problem. If the van runs out of gas, she is not able to transport customers to the river, and she will potentially lose customers. Also, if the charge does go through, she is liable for overdraft fees. Therefore, Mara wants to improve from her current process of refilling that account to $275 at the beginning of each week.
Mara started out by collecting data – on each Monday morning, she recorded the price of gas and the number of reservations for the coming week (see the attached Excel spreadsheet). She would like to use one of these measures to estimate the week’s fuel costs, but she is not sure which one would give her the best estimate. The number of reservations tells her how many customers have reserved boats for the coming week, but some reservations are later cancelled (or no-shows) and many customers show up unannounced for a trip down the river. In addition, the price of gas on Monday morning usually does not stay the same through the entire week. Mara knows that neither of these variables will perfectly predict her fuel costs, but figures that anything would be better than her current process.
DATA:
| Pleasanton Raft Company, Inc. | ||||||||
| Fuel Cost Data, current year | ||||||||
| Week | # of reservations | Gas price (as of Monday morning) | Fuel cost (total cost for the week) | |||||
| 1 | 3 | $2.55 | $153.52 | |||||
| 2 | 20 | $2.67 | $170.79 | |||||
| 3 | 23 | $2.64 | $249.39 | |||||
| 4 | 10 | $2.43 | $204.00 | |||||
| 5 | 15 | $2.34 | $218.31 | |||||
| 6 | 8 | $2.64 | $170.17 | |||||
| 7 | 24 | $2.58 | $212.86 | |||||
| 8 | 13 | $2.64 | $223.35 | |||||
| 9 | 10 | $2.33 | $160.63 | |||||
| 10 | 1 | $2.26 | $139.91 | |||||
| 11 | 29 | $2.29 | $208.70 | |||||
| 12 | 22 | $2.75 | $244.41 | |||||
| 13 | 41 | $2.61 | $287.18 | |||||
| 14 | 15 | $2.37 | $243.92 | |||||
| 15 | 5 | $2.31 | $198.09 | |||||
| 16 | 30 | $2.43 | $250.39 | |||||
| 17 | 32 | $2.35 | $225.19 | |||||
| 18 | 6 | $2.21 | $286.29 | |||||
| 19 | 35 | $2.87 | $274.92 | |||||
| 20 | 18 | $2.50 | $186.28 | |||||
| 21 | 27 | $2.58 | $211.33 | |||||
| 22 | 27 | $2.72 | $246.94 | |||||
| 23 | 19 | $2.23 | $188.97 | |||||
| 24 | 11 | $2.25 | $177.65 | |||||
| 25 | 7 | $2.30 | $149.27 | |||||
| 26 | 9 | $2.41 | $177.60 | |||||
Fuel COST INFO IS IN THE TABLE - Please let me know what more info do you need? The comments keep saying the same thing but I did provide the info.
Required:
Write a 1-2 page memo, as the accountant of Pleasanton Rafts, addressed to Mara Mason describing your analysis and the outcomes. Make sure you respond to the following items:
1. Of the three cost estimation methods covered in this class (high-low method, scatter diagrams, or least squares regression), which would give the most accurate cost estimates? Explain why that method is more accurate, and how it works.
In: Accounting
As the management accountant for Pleasanton Raft Company, Inc., you have been asked to attend a planning session for the next season. The owner, Mara Mason specifically wants to be able to predict her fuel costs each coming week.
Mara typically staffs the desk at the river – answering the phone, checking in customers, and taking payment – while her staff drives the customers and rafts out to the river. Since she is not actively driving the van, it has been her process to maintain a separate bank account specifically for fuel costs, and giving the debit card tied to the account to her staff. That way, staff members can easily fill the tank on the way back from dropping off customers. To limit her risk, Mara wants to keep a low balance in this account, just sufficient to pay fuel costs for the upcoming week. To that end, she currently checks the balance in the account each Monday morning, and transfers in just enough funds to bring the balance to $275.
This past season, Mara had some cash flow issues – there were a couple of occasions this year where the company debit card was declined for insufficient funds at the gas station. This can be a serious problem. If the van runs out of gas, she is not able to transport customers to the river, and she will potentially lose customers. Also, if the charge does go through, she is liable for overdraft fees. Therefore, Mara wants to improve from her current process of refilling that account to $275 at the beginning of each week.
Mara started out by collecting data – on each Monday morning, she recorded the price of gas and the number of reservations for the coming week (see the attached Excel spreadsheet). She would like to use one of these measures to estimate the week’s fuel costs, but she is not sure which one would give her the best estimate. The number of reservations tells her how many customers have reserved boats for the coming week, but some reservations are later cancelled (or no-shows) and many customers show up unannounced for a trip down the river. In addition, the price of gas on Monday morning usually does not stay the same through the entire week. Mara knows that neither of these variables will perfectly predict her fuel costs, but figures that anything would be better than her current process.
DATA:
| Pleasanton Raft Company, Inc. | ||||||||
| Fuel Cost Data, current year | ||||||||
| Week | # of reservations | Gas price (as of Monday morning) | Fuel cost (total cost for the week) | |||||
| 1 | 3 | $2.55 | $153.52 | |||||
| 2 | 20 | $2.67 | $170.79 | |||||
| 3 | 23 | $2.64 | $249.39 | |||||
| 4 | 10 | $2.43 | $204.00 | |||||
| 5 | 15 | $2.34 | $218.31 | |||||
| 6 | 8 | $2.64 | $170.17 | |||||
| 7 | 24 | $2.58 | $212.86 | |||||
| 8 | 13 | $2.64 | $223.35 | |||||
| 9 | 10 | $2.33 | $160.63 | |||||
| 10 | 1 | $2.26 | $139.91 | |||||
| 11 | 29 | $2.29 | $208.70 | |||||
| 12 | 22 | $2.75 | $244.41 | |||||
| 13 | 41 | $2.61 | $287.18 | |||||
| 14 | 15 | $2.37 | $243.92 | |||||
| 15 | 5 | $2.31 | $198.09 | |||||
| 16 | 30 | $2.43 | $250.39 | |||||
| 17 | 32 | $2.35 | $225.19 | |||||
| 18 | 6 | $2.21 | $286.29 | |||||
| 19 | 35 | $2.87 | $274.92 | |||||
| 20 | 18 | $2.50 | $186.28 | |||||
| 21 | 27 | $2.58 | $211.33 | |||||
| 22 | 27 | $2.72 | $246.94 | |||||
| 23 | 19 | $2.23 | $188.97 | |||||
| 24 | 11 | $2.25 | $177.65 | |||||
| 25 | 7 | $2.30 | $149.27 | |||||
| 26 | 9 | $2.41 | $177.60 | |||||
FULE COST INFO IS IN THE TABLE - Please let me know what more info do you need? The comments keep saying the same thing but I did provide the info.
Required:
Write a 1-2 page memo, as the accountant of Pleasanton Rafts, addressed to Mara Mason describing your analysis and the outcomes. Make sure you respond to the following items:
1. Of the three cost estimation methods covered in this class (high-low method, scatter diagrams, or least squares regression), which would give the most accurate cost estimates? Explain why that method is more accurate, and how it works.
In: Accounting
Write the hypotheses Conduct univariate associations between the IVs and the DV. For each of the univariate analysis write the results in APA style (include the SPSS outputs)
| Number | IV | DV | Age | Race | Gender |
| 1 | 118 | 78 | 21 | White | Male |
| 2 | 126 | 82 | 31 | Black | Male |
| 3 | 148 | 96 | 35 | Black | Male |
| 4 | 119 | 76 | 29 | White | Male |
| 5 | 113 | 72 | 26 | White | Male |
| 6 | 118 | 78 | 26 | Black | Male |
| 7 | 152 | 92 | 38 | Black | Male |
| 8 | 122 | 84 | 30 | Black | Male |
| 9 | 118 | 72 | 22 | White | Male |
| 10 | 116 | 68 | 27 | White | Male |
| 11 | 142 | 76 | 26 | Black | Male |
| 12 | 122 | 80 | 22 | Black | Female |
| 13 | 116 | 74 | 20 | White | Female |
| 14 | 118 | 76 | 29 | White | Female |
| 15 | 138 | 82 | 36 | White | Female |
| 16 | 120 | 78 | 31 | White | Female |
| 17 | 220 | 112 | 37 | Black | Female |
| 18 | 150 | 92 | 34 | Black | Female |
| 19 | 120 | 82 | 22 | Black | Female |
| 20 | 116 | 66 | 32 | White | Female |
| 21 | 120 | 70 | 39 | White | Female |
| 22 | 108 | 74 | 29 | White | Female |
| 23 | 118 | 72 | 28 | Black | Female |
| 24 | 118 | 72 | 28 | White | Female |
| 25 | 180 | 110 | 39 | Black | Female |
| 26 | 120 | 78 | 21 | Black | Female |
*weight is coded as IV
In: Statistics and Probability
Need Linear Regression Analysis done for the following data:
|
Day |
BP Diastolic |
Ate Healthy and Exercised |
|
1 |
85 |
N |
|
2 |
109 |
N |
|
3 |
96 |
N |
|
4 |
92 |
N |
|
5 |
99 |
N |
|
6 |
98 |
N |
|
7 |
102 |
Y |
|
8 |
93 |
N |
|
9 |
90 |
Y |
|
10 |
84 |
N |
|
11 |
90 |
N |
|
12 |
86 |
N |
|
13 |
81 |
N |
|
14 |
77 |
Y |
|
15 |
90 |
Y |
|
16 |
86 |
Y |
|
17 |
83 |
N |
|
18 |
80 |
Y |
|
19 |
78 |
N |
|
20 |
74 |
Y |
|
21 |
72 |
Y |
|
22 |
79 |
Y |
|
23 |
84 |
Y |
|
24 |
91 |
Y |
|
25 |
85 |
Y |
|
26 |
77 |
Y |
|
27 |
78 |
Y |
|
28 |
81 |
N |
|
29 |
88 |
Y |
|
30 |
85 |
Y |
|
31 |
77 |
Y |
|
32 |
74 |
Y |
|
33 |
72 |
Y |
|
34 |
77 |
N |
|
35 |
80 |
Y |
|
36 |
81 |
Y |
|
37 |
76 |
Y |
|
38 |
78 |
Y |
|
39 |
72 |
Y |
|
40 |
73 |
Y |
|
41 |
72 |
Y |
|
42 |
79 |
Y |
|
43 |
80 |
Y |
|
44 |
84 |
Y |
|
45 |
81 |
Y |
|
46 |
78 |
Y |
|
47 |
71 |
Y |
|
48 |
73 |
Y |
|
49 |
76 |
Y |
|
50 |
75 |
Y |
|
51 |
76 |
N |
|
52 |
81 |
Y |
|
53 |
78 |
N |
|
54 |
75 |
Y |
|
55 |
77 |
Y |
|
56 |
76 |
Y |
In: Statistics and Probability
As of 2006 Goldemberg gives the estimates the remaining reserves of petroleum as 1.03 trillion barrels and an average consumption of 25.5 billion barrels per year. Put these numbers into Joules and Btu. Given these estimates as of 2006, how long will the reserves of oil last?
In: Chemistry
Analyzing Unearned Revenue Changes
Take-Two Interactive Software, Inc. (TTWO) is a developer, marketer, publisher, and distributor of video game software and content to be played on a variety of platforms. There is an increasing demand for the ability to play these games in an online environment, and TTWO has developed this capability in many of its products. In addition, TTWO maintains servers (or arranges for servers) for the online activities of its customers.
TTWO considers that its products have multiple performance obligations. The first performance obligation is to provide software to the customer that enables the customer to play the game offline or online. That performance obligation is fulfilled at the point at which the software is provided to the customer. In addition, TTWO’s customers benefit from “online functionality that is dependent on our online support services and/or additional free content updates.” This second performance obligation is fulfilled over time, and the estimated time period for which an average user plays the software product is judged to be a faithful depiction of the fulfillment of this performance obligation.
At the beginning of the first quarter of fiscal year 2018, TTWO had
a deferred net revenue liability of $566,141 thousand. When that
quarter ended on June 30, 2018, the deferred net revenue liability
was $466,429 thousand. Revenue for the quarter was $387,982
thousand.
a. What would cause the deferred net revenue liability to go down over the quarter?
TTWO must have recognized less in revenue than it sold during the quarter.
TTWO must have recognized the same amount in revenue as it sold during the quarter.
TTWO must have recognized more in revenue than it sold during the quarter.
None of these are correct.
b. What was the amount of online-enabled games purchased by TTWO’s customers in the first quarter ended June 30, 2018?
Answer (in thousands)
Were the purchases greater or less than the revenue recognized in
the income statement?
Purchases were less than the revenue recognized in the income statement.
Purchases were greater than the revenue recognized in the income statement.
Purchases were equal to the revenue recognized in the income statement.
Not enough infomation is provided to answer the question.
In: Accounting
Analyzing Unearned Revenue Changes Take-Two Interactive Software, Inc. (TTWO) is a developer, marketer, publisher, and distributor of video game software and content to be played on a variety of platforms. There is an increasing demand for the ability to play these games in an online environment, and TTWO has developed this capability in many of its products. In addition, TTWO maintains servers (or arranges for servers) for the online activities of its customers. TTWO considers that its products have multiple performance obligations. The first performance obligation is to provide software to the customer that enables the customer to play the game offline or online. That performance obligation is fulfilled at the point at which the software is provided to the customer. In addition, TTWO’s customers benefit from “online functionality that is dependent on our online support services and/or additional free content updates.” This second performance obligation is fulfilled over time, and the estimated time period for which an average user plays the software product is judged to be a faithful depiction of the fulfillment of this performance obligation. At the beginning of the first quarter of fiscal year 2018, TTWO had a deferred net revenue liability of $509,527 thousand. When that quarter ended on June 30, 2018, the deferred net revenue liability was $419,786 thousand. Revenue for the quarter was $349,184 thousand.
a. What would cause the deferred net revenue liability to go down over the quarter?
-TTWO must have recognized less in revenue than it sold during the quarter.
- TTWO must have recognized the same amount in revenue as it sold during the quarter.
- TTWO must have recognized more in revenue than it sold during the quarter.
- None of these are correct.
b. What was the amount of online-enabled games purchased by TTWO’s customers in the first quarter ended June 30, 2018? Answer (in thousands)
Were the purchases greater or less than the revenue recognized in the income statement?
- Purchases were less than the revenue recognized in the income statement.
- Purchases were greater than the revenue recognized in the income statement.
- Purchases were equal to the revenue recognized in the income statement.
- Not enough information is provided to answer the question.
In: Economics
A company provides subscriptions to magazines. On October 1st, it collects $10 million and credits to sales revenue. On December 31st, the subscription is 1/3 expired. What would be the adjusting entry at year-end? I don't remember the answer choices but I think they all had unearned revenue and subscription revenue.
In: Accounting
Define the following terms:
2 - 401 K
3 - S&P 500
4 - Dow Jones
5 - Mutual fund
6 - Exchange traded fund (ETF)
In: Economics
Choose a company and analyze the company in terms of Porter's Five Forces? 1. Competitive rivalry 2 Bargaining power of suppliers 3 Bargaining power of customers 4 Threat of new entrants 5 Threat of substitute products
In: Operations Management