Locate the results of a recent survey that shows at least two variables in a newspaper, magazine, or Internet article. Outline the survey data so that your peers can understand the variables and results, and then identify at least one key statistical formula that you could use to evaluate the data. Provide a brief explanation of why you selected the formula you did and why it matters.

**Choose an article from a newspaper, magazine or internet site.

****A summary of the article in your own words

***Why this is a medical ethical issue, or a fallacy
***Your ethical analysis (Be sure to mention fallacies, if appropriate, in later memos.)
***Your conclusions, i.e., What do YOU think about this.
****Include the original article, or a copy, with the memo.
****The memo is NOT to exceed 1 page in length.

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October:

The department started 167,000 units into production during the month and transferred 186,000 completed units to the next department.

Required:

Assuming the company uses the FIFO method, compute the equivalent units of production for materials and conversion for October.

Clonex Labs, Inc., uses the weighted-average method in its process costing system. The following data are available for one department for October:

The department started 389,000 units into production during the month and transferred 409,000 completed units to the next department.

Required:

Compute the equivalent units of production for October.

QUESTION 1) materials:

QUESTION 2) Conversion:

Empire Company is a manufacturer of smart phones. Its controller resigned in October 2020. An inexperienced assistant accountant has prepared the following income statement for the month of October 2020.

EMPIRE COMPANY
Income Statement
For the Month Ended October 31, 2020
Sales revenue               $795,000   
Less:   Operating expenses                  
Raw materials purchases       $264,600           
Direct labor cost       190,200           
Advertising expense       91,000           
Selling and administrative salaries       77,800           
Rent on factory facilities       61,000           
Depreciation on sales equipment       45,800           
Depreciation on factory equipment       32,500           
Indirect labor cost       28,200           
Utilities expense       11,600           
Insurance expense       8,300        811,000   
Net loss               $(16,000)  

Prior to October 2020, the company had been profitable every month. The company’s president is concerned about the accuracy of the income statement. As her friend, you have been asked to review the income statement and make necessary corrections. After examining other manufacturing cost data, you have acquired additional information as follows.

1. Inventory balances at the beginning and end of October were:

October 1
October 31
Raw materials       $19,700       $36,000
Work in process       19,400       14,700
Finished goods       29,900       53,500

2. Only 75% of the utilities expense and 60% of the insurance expense apply to factory operations. The remaining amounts should be charged to selling and administrative activities.

Prepare a correct income statement for October 2020.

Askland Clinic uses client-visits as its measure of activity. During October, the clinic budgeted for 3,100 client-visits, buts its actual level of activity was 3,130 client-visits.  The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for October:

Data used in budgeting:

                                                                                                Fixed                            Variable

                                                                                           amount per                         amount per

                                                                                                month                          client-visit

Revenue ……………………………………………………                               -                                   $28.80

Personnel expenses ………………………………….                                $22,100                        $ 8.60

Medical supplies ……………………………………….                                   1,300                            5.50

Occupancy expenses………………………………..                                     6,300                            1.00

Administrative expenses ………………………….                                    3,500                              .40

Total expenses …………………………………………                                $33,200                        $15.50

Actual results for October:

Revenue ………………………………………………….                                 $86,454

                                                                                                   Total              Fixed Portion    

Personnel expenses………………………………..                                  $47,098            $24,350

Medical supplies……………………………………..                                  $18,925            $  1,290

Occupancy expenses………………………………                                   $  9,170            $  6,520

Administrative expenses………………………..                                   $  4,972            $  3,640

Required:

Part a—Prepare budgeted amounts for the planned visits and the actual visits (i.e. prepare a flexible

               budget)

Part b—Prepare a flexible budget performance report for October.

Part c—Answer the following questions:

1. What is the amount of the total personnel expenses in the planning budget for October?

2. What is the amount of total medical supplies in the flexible budget for actual visits in October?

3. What is the amount of the revenue variance for October?  Is the variance favorable or

unfavorable?  Explain why it is favorable or unfavorable.

4. What is the total spending variance for personnel expenses for October?  Is the variance favorable or unfavorable?  Explain why it is favorable or unfavorable.

Askland Clinic uses client-visits as its measure of activity. During October, the clinic budgeted for 3,100 client-visits, buts its actual level of activity was 3,130 client-visits.  The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for October:

Data used in budgeting:

                                                                                                Fixed                            Variable

                                                                                           amount per                         amount per

                                                                                                month                          client-visit

Revenue ……………………………………………………                               -                                   $28.80

Personnel expenses ………………………………….                                $22,100                        $ 8.60

Medical supplies ……………………………………….                                   1,300                            5.50

Occupancy expenses………………………………..                                     6,300                            1.00

Administrative expenses ………………………….                                    3,500                              .40

Total expenses …………………………………………                                $33,200                        $15.50

Actual results for October:

Revenue ………………………………………………….                                 $86,454

                                                                                                   Total              Fixed Portion    

Personnel expenses………………………………..                                  $47,098            $24,350

Medical supplies……………………………………..                                  $18,925            $  1,290

Occupancy expenses………………………………                                   $  9,170            $  6,520

Administrative expenses………………………..                                   $  4,972            $  3,640

Required:

Part a—Prepare budgeted amounts for the planned visits and the actual visits (i.e. prepare a flexible

               budget)

Part b—Prepare a flexible budget performance report for October.

Part c—Answer the following questions:

1. What is the amount of the total personnel expenses in the planning budget for October?

2. What is the amount of total medical supplies in the flexible budget for actual visits in October?

3. What is the amount of the revenue variance for October?  Is the variance favorable or

unfavorable?  Explain why it is favorable or unfavorable.

4. What is the total spending variance for personnel expenses for October?  Is the variance favorable or unfavorable?  Explain why it is favorable or unfavorable.

Coronado Company is a manufacturer of smart phones. Its controller resigned in October 2020. An inexperienced assistant accountant has prepared the following income statement for the month of October 2020.

Prepare a correct income statement for October 2020.

Prior to October 2020, the company had been profitable every month. The company’s president is concerned about the accuracy of the income statement. As her friend, you have been asked to review the income statement and make necessary corrections. After examining other manufacturing cost data, you have acquired additional information as follows.

1. Inventory balances at the beginning and end of October were:

2. Only 75% of the utilities expense and 60% of the insurance expense apply to factory operations. The remaining amounts should be charged to selling and administrative activities.