|
Gunst Company produces three video games: Android, Bio-Mutant, and Cyclops. Cost and revenue data pertaining to each product are as follows: |
| Android | Bio-Mutant | Cyclops | |||||||
| Selling price | $ | 100 | $ | 55 | $ | 125 | |||
| Direct labor | 48 | 24 | 60 | ||||||
| Direct materials | 9 | 8 | 16 | ||||||
| Variable overhead | 7 | 4 | 9 | ||||||
|
At the present time, demand for each of the company's products far exceeds its capacity to produce them. Thus, management is trying to determine which of its games to concentrate on next week in filling its backlog of orders. Gunst's direct labor rate is $12 per hour, and only 1,000 hours of direct labor are available each week. |
|
Determine the maximum total contribution margin the company can make by its best use of the 1,000 available hours. (Do not round intermediate calculations.) |
In: Accounting
I chose the temperature of New Jersey in two different months as below, I need to calculate mean, median, mode, and range for each group. Find the variance and standard deviation for each group. Find the 95% confidence interval the mean of each group and test the hypothesis that the means are different (.05 significance)
|
January |
March |
|
|
1 |
41 |
46 |
|
2 |
50 |
62 |
|
3 |
48 |
59 |
|
4 |
52 |
58 |
|
5 |
45 |
54 |
|
6 |
46 |
47 |
|
7 |
44 |
49 |
|
8 |
45 |
60 |
|
9 |
34 |
74 |
|
10 |
55 |
68 |
|
11 |
70 |
57 |
|
12 |
69 |
49 |
|
13 |
46 |
72 |
|
14 |
46 |
58 |
|
15 |
53 |
55 |
|
16 |
50 |
44 |
|
17 |
34 |
55 |
|
18 |
36 |
53 |
|
19 |
45 |
52 |
|
20 |
33 |
80 |
|
21 |
35 |
67 |
|
22 |
41 |
44 |
|
23 |
47 |
41 |
|
24 |
52 |
57 |
|
25 |
52 |
46 |
|
26 |
48 |
61 |
|
27 |
47 |
70 |
|
28 |
45 |
53 |
|
29 |
42 |
49 |
|
30 |
37 |
50 |
In: Statistics and Probability
I chose the temperature of New Jersey in two different months as below, I need to calculate mean, median, mode, and range for each group. Find the variance and standard deviation for each group. Find the 95% confidence interval the mean of each group and test the hypothesis that the means are different (.05 significance)
|
January |
March |
|
|
1 |
41 |
46 |
|
2 |
50 |
62 |
|
3 |
48 |
59 |
|
4 |
52 |
58 |
|
5 |
45 |
54 |
|
6 |
46 |
47 |
|
7 |
44 |
49 |
|
8 |
45 |
60 |
|
9 |
34 |
74 |
|
10 |
55 |
68 |
|
11 |
70 |
57 |
|
12 |
69 |
49 |
|
13 |
46 |
72 |
|
14 |
46 |
58 |
|
15 |
53 |
55 |
|
16 |
50 |
44 |
|
17 |
34 |
55 |
|
18 |
36 |
53 |
|
19 |
45 |
52 |
|
20 |
33 |
80 |
|
21 |
35 |
67 |
|
22 |
41 |
44 |
|
23 |
47 |
41 |
|
24 |
52 |
57 |
|
25 |
52 |
46 |
|
26 |
48 |
61 |
|
27 |
47 |
70 |
|
28 |
45 |
53 |
|
29 |
42 |
49 |
|
30 |
37 |
50 |
In: Statistics and Probability
Bond Investment Transactions
Journalize the entries to record the following selected bond investment transactions for Starks Products:
For a compound transaction, if an amount box does not require an entry, leave it blank.
a. Purchased for cash $108,000 of Iceline, Inc. 9% bonds at 100 plus accrued interest of $1,620, paying interest semiannually.
b. Received first semiannual interest payment.
c. Sold $72,000 of the bonds at 103 plus accrued interest of $820.
Stock Investment Transactions
On September 12, 3,700 shares of Aspen Company are acquired at a price of $32.00 per share plus a $185 brokerage commission. On October 15, a $0.80-per-share dividend was received on the Aspen Company stock. On November 10, 1,480.00 shares of the Aspen Company stock were sold for $27 per share less a $74 brokerage commission.
When required, round final answers to the nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank.
Prepare the journal entries for the original purchase, the dividend, and the sale under the cost method.
| Sept. 12 | |||
| Oct. 15 | |||
| Nov. 10 | |||
In: Accounting
Data set
87 52 57 51 85 53 46 72 42 83
41 33 98 48 35 87 46 60 75 36
62 32 35 54 27 47 43 86 63 70
39 48 39 32 74 73 67 44 82 89
23 34 38 46 92 44 57 88 49 28
58 40 21 29 42 49 60 26 86 58.
For the given data set, create a frequency distribution with 7 classes. on separate page(s), provide answers for the following: n=, max, min, range, class width, upper and lower class limits, upper and lower class boundaries, class mid points, frequency distribution with histogram and frequency polygon, relative distribution with pareto chart, cummulative distribution with Ogive. submit a summary page(s) with your conclusions and graphs. submissions must be neat and professinal. points may be deducted for sloppy and unprofessional papers. please include your work at the end of the submission.
In: Statistics and Probability
The president of Doerman Distributors, Inc., believes that 25% of the firm's orders come from first-time customers. A random sample of 100 orders will be used to estimate the proportion of first-time customers.
(a)
Assume that the president is correct and
p = 0.25.
What is the sampling distribution of
p
for n = 100? (Round your answer for
σp
to four decimal places.)
σp
=
E(p)
=
Since np = and n(1 − p) = , approximating the sampling distribution with a normal distribution
appropriate in this case.
(b)
What is the probability that the sample proportion
p
will be between 0.15 and 0.35? (Round your answer to four decimal places.)
(c)
What is the probability that the sample proportion will be between 0.20 and 0.30? (Round your answer to four decimal places.)
In: Statistics and Probability
The president of Doerman Distributors, Inc., believes that 30% of the firm's orders come from first-time customers. A random sample of 100 orders will be used to estimate the proportion of first-time customers.
(a)
Assume that the president is correct and
p = 0.30.
What is the sampling distribution of
p
for n = 100? (Round your answer for
σp
to four decimal places.)
σp
=
E(p)
=
Since np = and n(1 − p) = , approximating the sampling distribution with a normal distribution ---Select--- is is not appropriate in this case.
(b)
What is the probability that the sample proportion
p
will be between 0.20 and 0.40? (Round your answer to four decimal places.)
(c)
What is the probability that the sample proportion will be between 0.25 and 0.35? (Round your answer to four decimal places.)
In: Statistics and Probability
| Woody Co. is an experienced pellet stove dealer that also offers a number | |||||
| of services for the stoves that it sells. | |||||
| Assume that Woody's sells pellet stoves on a standalone basis and that it also sells | |||||
| installation and maintenance service for stoves. However, Woody's does not | |||||
| offer installation or maintenance services to customers who buy stoves from other | |||||
| vendors. Pricing of the pellet stoves is as follows: | |||||
| Stove only | 1,200 | ||||
| Stove with installation service | 1,275 | ||||
| Stove with maintenance service | 1,465 | ||||
| Stove with installation and maintenance services | 1,500 | ||||
| In each instance in which maintenance services are provided, the maintenance | |||||
| service is separately priced within the arrangement at $265. Additionally, the | |||||
| incremental amount charged by Woody's for installation approximates the | |||||
| amount charged by independent third parties. | |||||
| a | The customer purchases a pellet stove with both installation and maintenance | ||||
| services for $1,500. Based on its experience,Woody's believes that the | |||||
| installation will be performed satisfatorily. Assume that the maintenance services | |||||
| are priced separately, (the three components are distinct). | |||||
| Identify the separate performance obligations related to this situation. | |||||
| b | Indicate the amount of revenue that should be allocated to each performance | ||||
| obligation. | |||||
In: Accounting
Required:
For each of the following independent scenarios, determine whether Van Allen Corporation is a principal or an agent for purposes of applying the 5-step revenue recognition model.
1. Van Allen is a broker facilitating the sale of goods and will receive a commission of 10% of the purchase price, which will be withheld from the proceeds at the closing of the transaction and paid to Van Allen.
2. Van Allen is an art dealer. It displays artists' work in its gallery and sells the works at prices determined by the artists. When a piece sells, Van Allen remits to the artist the sales proceeds less a fee. which is the greater of 15% of the purchase price or $300.
3. Van Allen is an art dealer. Van Allen pays a "base purchase price" to the artist for each piece it acquires. It displays the artists' work in its gallery and sells the works at prices it negotiates with the customers. When a piece sells, Van Allen remits an additional payment to the artist if the sales proceeds exceed three times the original base purchase price. The additional payment is 25% of the amount by which the sales proceeds exceed the base purchase price
In: Accounting
Cash Receipts
The sales budget for Perrier Inc. is forecasted as follows:
| Month | Sales Revenue |
|---|---|
| May | $100,000 |
| June | 180,000 |
| July | 200,000 |
| August | 140,000 |
To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically, the following trend has been established regarding cash collection of sales:
60 percent in the month of sale.
20 percent in the month following sale.
15 percent in the second month following sale.
5 percent uncollectible.
The company gives a 1 percent cash discount for payments made by customers during the month of sale. The accounts receivable balance on April 30 is $29,000, of which $8,000 represents uncollected March sales and $21,000 represents uncollected April sales. Prepare a schedule of budgeted cash collections from sales for May, June, and July. Include a three-month summary of estimated cash collections.
| Perrier,
Inc. Schedule of Budgeted Cash Collections Quarterly by Months |
||||
|---|---|---|---|---|
| May | June | July | Total | |
| Total Cash receipts: | $Answer | $Answer | $Answer | $Answer |
In: Accounting