Helix Corporation uses the weighted-average method in its process costing system. It produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion Work in process inventory, May 1 66,000 100 % 50 % Work in process inventory, May 31 46,000 100 % 30 % Materials cost in work in process inventory, May 1 $ 53,900 Conversion cost in work in process inventory, May 1 $ 15,400 Units started into production 248,400 Units transferred to the next production department 268,400 Materials cost added during May $ 103,300 Conversion cost added during May $ 221,648 Required:

1. Calculate the first production department's equivalent units of production for materials and conversion for May.

2. Compute the first production department's cost per equivalent unit for materials and conversion for May.

3. Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. 4. Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May.

Compute the first production department's cost per equivalent unit for materials and conversion for May. (Round your answers to 2 decimal places.)

Compute the first production department's cost of ending work in process inventory for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)

Compute the first production department's cost of the units transferred to the next production department for materials, conversion, and in total for May. (Round your intermediate calculations to 2 decimal places.)

Two firms (firm 1 and firm 2) can control pollution with the following marginal abatement costs:

MAC1=100q1

MAC2=200q2

where q1 and q2 are the amount of pollution reduced by the first and second firms. Assume that with no controls at all, each firm would be emitting 100 units of pollution or 200 units for both firms.

Suppose that the government sets up an emissions trading market mechanism to achieve a pollution goal of 100 units of total pollution. The government would issue 100 emissions permits. Each permit represents the right to emit one ton of emissions. The government then freely allocates 50 permits to each firm. In the emissions trading market, who will buy permits? How many permits the buyer will buy?

1. List five advantages and five disadvantages of making an S election. Explain each item.

2. Which of the following events cause an S election to terminate?

The S corporation earning 100 percent of its gross receipts in its first tax year from passive sources

The S corporation issuing nonvoting stock that has a dividend preference

The S corporation purchasing 100 percent of the single class of stock of a second domestic corporation that has conducted business activities for four years

An individual stockholder donating 100 shares of S corporation stock to a charity that is exempt from tax under Sec. 501(c)(3)

The S corporation earning tax-exempt interest income

A psychologist obtains a random sample of 20 mothers in the first trimester of their pregnancy. The mothers are asked to play Mozart in the house at least 30 min each day until they give birth. After 5​ years, the child is administered an IQ test. It is known that IQs are normally distributed with a mean of 100. If the IQs of the 20 children result in a sample mean of 104.4 and sample standard deviation of 15, is there evidence that the children have higher​IQs? Use the α=0.05 level of significance.

A) Determine null and alt hypotheses

H0: ____ _____ 100

H1: ____ ______ 100

B) Calculate p value

C) State conclusion. Reject or not? Sufficient evidence at .05 level of significance that mothers who listen to Mozart have kids with higher IQs?

Two firms (firm 1 and firm 2) can control pollution with the following marginal abatement costs:

MAC1=100q1

MAC2=200q2

where q1 and q2 are the amount of pollution reduced by the first and second firms. Assume that with no controls at all, each firm would be emitting 100 units of pollution, or 200 units for both firms.

Suppose that the government sets up an emissions trading market mechanism to achieve a pollution goal of 100 units of total pollution. The government would issue 100 emissions permits. Each permit represents the right to emit one ton of emissions. The government then freely allocates 50 permits to each firm. In the emissions trading market, who will buy permits? How many permits the buyer will buy?

1. Two firms (firm 1 and firm 2) can control pollution with the following marginal abatement costs:

MAC1=100q1

MAC2=200q2

where q1 and q2 are the amount of pollution reduced by the first and second firms. Assume that with no controls at all, each firm would be emitting 100 units of pollution, or 200 units for both firms.

Suppose that the government sets up an emissions trading market mechanism to achieve a pollution goal of 100 units of total pollution. The government would issue 100 emissions permits. Each permit represents the right to emit one ton of emissions. The government then freely allocates 50 permits to each firm. In the emissions trading market, who will buy permits? How many permits the buyer will buy?

A: Paul Peterson is the inventory manager for Office Supplies, Inc., a large office supply warehouse. The annual demand for paper punches is 20,000 units. The ordering cost is $100 per order, and the carrying cost is $5 per unit per year. What is the equation/formula to compute the economic order quantity? What is the EOQ?

B: Paul Peterson is considering manufacturing hole-punch devices. As in Part A, above, the annual demand is 20,000 units. The setup cost is $100 per order, and the carrying cost is $5 per unit per year. The demand rate is 100 units per day and the production rate is 150 units per day. What is the equation/formula to determine the economic lot size? What is the answer?

C: Paul Peterson (see Part B above) has found a supplier of hole-punches that offers quantity discounts. The annual demand is 20,000 units, the ordering cost is $100 per order, and the carrying cost is 0.5 of the unit price. For quantities that vary from 0 to 1,999, the unit price is $10. The price is $9.98 for quantities that vary from 2,000 units to 3,999 units and $9.96 for quantities that vary from 4,000 to 10,000 units. Should Paul take the quantity discount? Show calculation of EOQ and Total Cost for each of the 3 options. Hint: compute the economic order quantity. Hint: Complete the table below. shows the results of the total cost analysis. Discount Unit Order Material Ordering Carrying Total Number Price Quantity Cost Cost Cost Cost 1 $10 2 9.98 2,000 3 9.96 4,000

D: Kimberly Jones is in charge of four inventory items. The inventory demand and sales price for each item is summarized in the following table. Using ABC analysis, how should these inventory items be controlled? Demand Price Item 1 20,000 $ 10.00 Item 2 8,000 100.00 Item 3 7,000 5.00 Item 4 200 5.00 Hint: Using ABC analysis, determine the total annual dollar value of each item. Complete the Table below. Also show cumulative % of items and cumulative percentage of total cost. (Use “cost” for “price”). This can be used to categorize each inventory item. Which item should be carefully controlled? Cumulative Cumulative Item Annual Unit Annual $ Percentage Percentage Number Demand Cost Volume of Items of Cost 100.000 Total

E: Fun and Games, Inc. sells a variety of electronic games to children and adults. Annual demand for super Namco games is 360. Holding cost is $1 per game and ordering cost is $100 per order. Fun and Games, Inc., has determined that the economic order quantity should be 268 units given the foregoing data. What happens to the order quantity if annual demand is underestimated by 50%? In other words, what happens if actual annual demand is 540 units?

In 2017, Elaine paid $2,920 of tuition and $840 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband.

What is the maximum American opportunity credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Round your intermediate calculations to two decimal places and final answer to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

a. Elaine’s AGI is $90,750.

b. Elaine’s AGI is $176,200.

c. Elaine’s AGI is $191,500.

Move = ₀ - .005 M_c - .002 Y_h + .007 S_h - .012 R - .001 A + .068 U - .001 (Y_f/Y_h)

where

Move = 1 if moved; 0 if did not move

M_c = number of children

Y_h = head's earnings

S_h = head's schooling

R = 1 if relatives reside in the area; 0 if no relatives in the area

A = head's age

U = 1 if unemployed at original location; 0 if employed at original location

Y_f/Y_h = ratio of wife to husband earnings

1. Do older people have a higher probability of geographic mobility? Why?