A sample of 100 sociology books has a mean cost of $76.75 and a standard deviation of $10.42. Using Chebyshev's rule, approximately what percentage of the 100 sociology books cost between $45.49 and $108.01?

A. 97%
B. 84%
C. 89%
D. 75%

Ferry Services Incorporated (FSI) is a public company that has three divisions. The first division provides coastal ferry services on the West and East coasts of Canada. The second division designs and builds ferries for their own use as well as for external customers. The third division operates and manages ferry terminal buildings.
In 2011, FSI anticipates a taxable loss of $20 million due to a major hurricane that sunk one of their ferry ships and caused extensive damage to one of their terminal buildings. For the past three years they have had taxable income of 2008 - $5 million; 2009 - $10 million; and 2010 - $8 million.
FSI has a number of long-term bank loans with Canadian Big Bank. In 2011, they obtained additional financing to recover from the costs associated with the hurricane. The bank requires annual audited financial statements. The new loan has a financial covenant requiring that FSI maintain a certain current ratio, as well as dividend distribution is restricted until the loan is paid off.
You have recently been hired to develop new accounting policies for FSI’s Dec 31 year-end. You have been asked by the Board to discuss alternatives and provide recommendations on the appropriate accounting policies for events that have occurred during 2011. Where possible you have been asked to quantify the impact of the accounting policies. The incremental borrowing rate for FSI is 8%. The tax rates for the last few years were: 2008 (40%), 2009 (38%), and 2010 (38%). The tax rate for 2011 is 40%.
1) A major hurricane hit the Eastern Coast in the fall of 2011. This hurricane was tracking to miss the Eastern Seaboard but had a sudden change in direction. FSI was caught off guard and one of their ferries as well as a ferry terminal was in the direct path of the hurricane. Unfortunately, FSI found out that their insurance did not cover hurricane damage. To cover the costs associated with the damages FSI obtained a new five year bank loan of $25 million with quarterly interest payments. Their cost of borrowing was 8% a year. To obtain the loan FSI had to pay $1 million of transaction costs.
2) The ferry was one of their older ferries with a carrying amount of $2 million dollars. The costs to recover the ferry are approximately $3 million and it is anticipated they will receive $0.5 million worth of salvaged material. The ferry will need to be replaced and construction was initiated in December 2011. The estimated construction costs are $20 million since the ferry will be state of the art with a new weather warning software system. Construction is expected to be completed in the spring of 2013. Until that time a ferry was brought out of retirement. The ferry had been retired due to extensive renovations required to meet environmental legislation. These renovations cost FSI $2 million in 2011.
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3) The damage to the terminal was $7 million. FSI leases all of their terminals from Leasing Incorporated (LI). This lease has a remaining lease term of 2 years. Due to the terms of the lease agreement FSI is required to pay a large penalty of $5 million dollars for repairs to the terminal. This cost far exceeds the remaining benefits of the lease agreement.
4) A lawsuit was launched in December 2011 against FSI due to the tragedy of the sinking of the ferry. FSI decided that they want to settle quickly out of court to avoid negative publicity. They have offered $5 million to the families. Their lawyers have not responded to this offer.
5) Passengers can purchase their ferry tickets on-line through Tickets.com. To encourage use of the ferry FSI provides passengers free parking if they purchase an annual pass. Otherwise passengers pay a daily rate to park their vehicle.
6) Some of the ferries contain asbestos. Changes in government legislation in 2011 require FSI to remove the asbestos in 2016. The anticipated cost of removal is $5 million.
7) FSI leases their ferry terminals from Leasing Incorporated. In 2011, FSI obtained the rights to operate a ferry on a new route. They entered into a lease agreement for a newly constructed terminal and the land. The lease term is for 60 years with a 20 year bargain renewal term.
8) In 2011, FSI issued $10,000,000 of 8% convertible bonds at the option of FSI into common shares. These bonds mature in five years and are convertible at that time by FSI into common shares at a rate of 50 shares for each $1,000 bond.

TOXIC RECREATIONAL CENTER ENVIRONMENTAL RACISM?

The growing concern for the environment has increased public interest in the need for eco-friendly cities.  Baltimore City residents and policymakers are, therefore, becoming more environmentally conscious in the development and rehabilitation of  the city. The management of Baltimore City is becoming increasingly more complex as city is experiencing, crime including political corruption,  socio-economic divisiveness, racial segregation, dwindling tax base and stalled physical and economic growth. Remembering you are the Assistant Director of Recreation and Parks for the City of Baltimore. You are the trouble shooter and problem solver for the city residents and the parks department. When something happens in this city you are the go-to person they  (The Director of Recreation and Parks, The Mayor and, The City Council) turn to you, you are respected, experienced and well educated so your decisions actual become departmental policy.

Urban growth in East Baltimore has led to an increase in land values; thus, leading to competition between land uses including the demarcation of land for urban parks. The indirect economic benefits of urban parks make it difficult to place an economic value on them; thus, affecting the ability for policymakers to assess their true cost and benefits. This adversely affects the level of investment in the development of parks which limits the sustainable management of parks. Strigl (2003) describes the sustainable management of parks as the efficient and effective organization of park use through negotiations, comprises, and consensus building among stakeholders. However, recent news reports and complaints by residents in the city, especially West Baltimore and its residents who have been severely neglected in terms of  overall development and improvements because of crime, abject poverty and socio-economic demographics which prevented the private sector developers from investing in the area. In addition, the West Baltimore area houses some of the poorest areas of the city and some of the worst areas in terms of city services according to residents and outside observers. This is especially true regarding parks and recreation facilities in the West Baltimore area. Recently a park refurbishment in the Harlem Park section of West Baltimore was halted due to concerns by environmentalist that the grounds where the park was being built were contaminate decades ago during early part of the 19^th century by an automobile battery factory owned by General Motors. The environmentalist have determined through studies that the company upon closing the factory have buried thousands of tons of automobile batteries and chemicals underground which have been slowly leeching out into the grounds of the park.  However, during the initial development of the park several soil samples have been taken by several different groups including the Federal government through the Environmental Protection Agency (EPA), The State of Maryland Department of Environment and The Baltimore City Department of Environmental control all signed off on the project. government indicating that the grounds under park were safe and free from harmful levels of contamination and the project was greenlighted by the Mayor, The City Council, and numerous other elected officials, neighborhood association leaders, celebrities and the surrounding community. The project was viewed as a resounding success and the park was expanded into a neighborhood recreational facility complete with a food bank, job training center, daycare and senior center  and numerous sports programs and activities for the community. The facility is currently viewed as model for urban revitalization of impoverished communities nationwide. It has evolved from a simple clearing of abandoned homes to a large recreational center with the possibility of further expansion. It has attracted numerous volunteers, donors throughout the country

In spite of the success of the facility and its effects on the neighborhood a recent Netflix Documentary/investigation about the extremely high cancer rate amongst residents  in the West Baltimore, Maryland 21215-area code surrounding the facility and neighborhood. After the documentary investigation more samples were taken of the soil and investigation of the processes undertaken to complete the project. In addition , the Maryland Department of Health, Johns Hopkins University, and several other public and private hospitals and concerned citizens formed a consortium to investigate the allegations outlined in the documentary. The consortiums findings revealed that the facility should have never been built on the site and it was highly likely that the site and the underground contamination were possibly the root causes in the high levels of cancer, asthma, skin rashes, COPD, suffered by the residents and patrons on the facility. In the mad rush to open the facility and under pressure by the constituents and the media someone signed off on the project. Further investigation has found that the culprits who were involved in green lighting the project are either deceased or retired so there would be one alive to held accountable, no criminal convictions, arrests, indictments but there will be a Class Action Lawsuit by the residents. Currently the facility has been ordered closed temporarily by the city effective April 20, 2020  based on recommendations by the consortium researching the situation while further tests and a solution to correct the problem is discovered. However, the summer months are coming up and the need by all stakeholders is to get out in front of this issue ASAP by coming up with a plan.

The Mayor of the City of Baltimore has ordered an Emergency Action Plan to be developed by the Department of Recreation & Parks. The Director of Recreation and Parks has asked you to come up with a plan to determine what are the essential programs and how to transfer/ temporarily move those services to other organizations in the area to keep the programs operating. Because many of the programs utilize separate funding specifically for their programs based upon participation it is essential that there be no disruption of their program or they would lose funding for the program  Your directives coming from the Mayor, the Director of Parks & Recreation, and other city leaders is to first address the community in a Town Hall Meeting at a local church in the area.

In order to address the conflicts between the environmental and economic use of land; planners, park administrators and advocates need to combine their procedural and substantive skills and become central players in dealing with the conflict between growth, environment and social justice (Campbell 2011). The Baltimore City government and the Baltimore City Recreation & Parks authorities are also confronted and pressured with the problem of gentrification, budget challenges, appeasing various ethnic and cultural groups, socio-economic challenges, funding, creation, management and maintenance of urban parks and recreation. Despite their social and ecological benefits some of these projects will continue to move forward in an effort to appease constituents and the public. These competing interests make dealing with most urban issues such as the management of parks complex and costly; thus, the need to study some of the factors that influence the urban park development. The ability of recreation and park professional to conduct critical analysis, make strategic decisions make it imperative that leadership in the field be knowledgeable and taken seriously because the importance of recreation and parks cannot and should not be underestimated.

QUESTIONS:

1. You will write a statement( 1 page) on behalf of the Department of Parks & Recreation position of the issue, addressing the constituents, parents/children, vendors, staff, and all members of the community regarding the Recreation Center current status and what will be done to continue the programs and services offered be the community.
2. You will develop an emergency action plan to move the essential programs and services to other organizations, and entities in the community and determine the best way to notify the community of these changes.
3. You will develop a table outlining where the essential programs will be moved to and held.
4. Create a list of who you should approach and address with moving the programs and explaining the departments position. (simply cite the place where you obtain you references).

d) A building contractor calls the project office and asks if the necessary funds have been secured for construction work to begin. What document is required from the project company to the construction company for works to begin?

You have been asked by a colleague what the latest innovations in construction material are. Prepare a response on what you consider to be the most innovative materials currently being used or considered for use in the construction industry.

The Wholesale Ltd acquired 80 per cent of the shares of House Construction Ltd on 30 June 2020 for a consideration of $800,000. The share capital and reserves of House Construction Ltd at the date of acquisition were: Share capital $550,000 Retained earnings $100,000 Revaluation surplus $150,000 All assets of House Construction Ltd were fairly valued at the date of acquisition, except for a major plant that had a fair value $26,000 greater than its carrying amount. The cost of the plant was $100,000 and it had accumulated depreciation of $85,000. There were no transactions between Wholesale Ltd and House Construction Ltd at the date of acquisition. In addition, the Wholesale Ltd acquired 100 per cent of the shares of Queensland Retail Ltd on 1 July 2018-that is two years earlier. The cost of investment was $650,000. At that date the capital and reserves of Queensland Retail Ltd were: Share capital $235,000 Retained earnings $115,000 At the date of acquisition all assets of Queensland Retail Ltd were considered to be fairly valued. 2 Wholesale Ltd incurred the following transactions with Queensland Retail Ltd during financial year 2018-2019: • On 1 September 2018 Wholesale Ltd sold a machinery to Queensland Retail Ltd for $136,000 when its carrying value in Wholesale Ltd’s book was $100,000 (original cost $200,000 and original estimated life of 8 years). • From January to June in 2019, Wholesale Ltd made sales of inventory $50,000 to Queensland Retail Ltd for on-sale to external parties. The inventory had originally cost Wholesale Ltd $40,000. At 30 June 2019, Queensland Retail Ltd still had 40 per cent of the inventory on hand. On-hand inventory was expected to be sold in the subsequent financial year. Wholesale Ltd incurred the following transactions with Queensland Retail Ltd during financial year 2019-2020: • During the year Wholesale Ltd made total sales of inventory $70,000 to Queensland Retail Ltd for on-sale to external parties. The inventory had originally cost Wholesale Ltd 61,000. At 30 June 2020, half of the inventory was still on hand. On-hand inventory was expected to be sold in the subsequent financial year. • Wholesale Ltd provided management consultation to Queensland Retail Ltd and this was the first time that Wholesale Ltd provided such service to Queensland Retail Ltd. At the end of 2020, Queensland Retail Ltd paid $3,000 for these services and has a balance of $2,000 payable at year end. • Queensland Retail Ltd has several long-term loans, including a five-year loan for $55,000 from Wholesale Ltd. This loan was effective from 1 July 2019. Interest rate was 3.5% per annum. During the year ending 30 June 2020, Queensland Retail Ltd paid $1,000 interest on this loan. You were appointed as the financial accountant at Wholesale Ltd. As you may have noticed, Wholesale Ltd acquired 80% shares of House Construction Ltd to extend its operation in Australia and it also has an existing wholly owned subsidiary (Queensland Retail Ltd) operating in Queensland.

You were requested to prepare the followings: I. acquisition analysis at 1 July 2018 and adjustment/elimination journal entries for consolidation as at 30 June 2019. II. acquisition analysis and adjustment/elimination journal entries for consolidation as at 30 June 2020.

Break-Even Sales and Cost-Volume-Profit Chart Last year, Hever Inc. had sales of $264,000, based on a unit selling price of $120. The variable cost per unit was $90, and fixed costs were $45,900. The maximum sales within Hever's relevant range are 2,800 units. Hever Inc. is considering a proposal to spend an additional $12,000 on billboard advertising during the current year in an attempt to increase sales and utilize unused capacity. Required: 1. Construct a cost-volume-profit chart on your own paper, indicating the break-even sales for last year. In your computations, do not round the contribution margin percentage. Break-even sales (dollars) Break-even sales (units) 2. Using the cost-volume-profit chart prepared in part (1), determine (a) the income from operations for last year and (b) the maximum income from operations that could have been realized during the year. In your computations, do not round the contribution margin percentage. Income from operations Maximum income from operations 3. Construct a cost-volume-profit chart (on your own paper) indicating the break-even sales for the current year, assuming that a noncancelable contract is signed for the additional billboard advertising. No changes are expected in the unit selling price or other costs. In your computations, do not round the contribution margin percentage. Dollars Units 4. Using the cost-volume-profit chart prepared in part (3), determine (a) the income from operations if sales total 2,200 units and (b) the maximum income from operations that could be realized during the year. In your computations, do not round the contribution margin percentage. Income from operations at 2,200 units Maximum income from operations

1. Break-Even Sales and Cost-Volume-Profit Chart

   Last year, Hever Inc. had sales of $422,500, based on a unit selling price of $130. The variable cost per unit was $100, and fixed costs were $67,800. The maximum sales within Hever's relevant range are 4,100 units. Hever Inc. is considering a proposal to spend an additional $18,000 on billboard advertising during the current year in an attempt to increase sales and utilize unused capacity.

   Required:

   1. Construct a cost-volume-profit chart on your own paper, indicating the break-even sales for last year. In your computations, do not round the contribution margin percentage.

   Break-even sales (dollars)
   Break-even sales (units)

   2. Using the cost-volume-profit chart prepared in part (1), determine (a) the income from operations for last year and (b) the maximum income from operations that could have been realized during the year. In your computations, do not round the contribution margin percentage.

   Income from operations
   Maximum income from operations

   3. Construct a cost-volume-profit chart (on your own paper) indicating the break-even sales for the current year, assuming that a noncancelable contract is signed for the additional billboard advertising. No changes are expected in the unit selling price or other costs. In your computations, do not round the contribution margin percentage.

   Dollars
   Units

   4. Using the cost-volume-profit chart prepared in part (3), determine (a) the income from operations if sales total 3,250 units and (b) the maximum income from operations that could be realized during the year. In your computations, do not round the contribution margin percentage.

   Income from operations at 3,250 units
   Maximum income from operations

Break-Even Sales and Cost-Volume-Profit Chart

Last year, Gelbin Inc. had sales of $292,000, based on a unit selling price of $100. The variable cost per unit was $80, and fixed costs were $40,600. The maximum sales within Gelbin's relevant range are 3,700 units. Gelbin is considering a proposal to spend an additional $12,000 on billboard advertising during the current year in an attempt to increase sales and utilize unused capacity.

Required:

1. Construct a cost-volume-profit chart on your own paper, indicating the break-even sales for last year. In your computations, do not round the contribution margin percentage.

2. Using the cost-volume-profit chart prepared in part (1), determine (a) the income from operations for last year and (b) the maximum income from operations that could have been realized during the year. In your computations, do not round the contribution margin percentage.

3. Construct a cost-volume-profit chart (on your own paper) indicating the break-even sales for the current year, assuming that a noncancelable contract is signed for the additional billboard advertising. No changes are expected in the unit selling price or other costs. In your computations, do not round the contribution margin percentage.

4. Using the cost-volume-profit chart prepared in part (3), determine (a) the income from operations if sales total 2,920 units and (b) the maximum income from operations that could be realized during the year. In your computations, do not round the contribution margin percentage.