Periodic Inventory by Three Methods

The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows:

Required:

1. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. Round the weighted average unit cost to the nearest cent.

2. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

3. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system.

Note: Round the weighted average unit cost to the nearest dollar and final answers to the nearest dollar.

4. Compare the gross profit and June 30 inventories using the following column headings. Enter all amounts as positive numbers.

Periodic Inventory by Three Methods

The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows:

Required:

1. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. Round the weighted average unit cost to the nearest cent.

2. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system.

3. Determine the inventory on June 30 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system.

Note: Round the weighted average unit cost to the nearest dollar and final answers to the nearest dollar.

4. Compare the gross profit and June 30 inventories using the following column headings. Enter all amounts as positive numbers.

The article "Plugged In, but Tuned Out"† summarizes data from two surveys of kids age 8 to 18. One survey was conducted in 1999 and the other was conducted in 2009. Data on number of hours per day spent using electronic media that are consistent with summary quantities given in the article are given below (the actual sample sizes for the two surveys were much larger). For purposes of this exercise, assume that it is reasonable to regard the two samples as representative of kids age 8 to 18 in each of the 2 years that the surveys were conducted.

2009 5 9 5 8 7 6 7 9 7 9 6 9 10 9 8

1999 4 5 7 7 5 7 5 6 5 6 7 8 5 6 6

(a) Do the given data provide convincing evidence that the mean number of hours per day spent using electronic media was greater in 2009 than in 1999? Test the relevant hypotheses using a significance level of 0.01. (Use a statistical computer package to calculate the P-value. Use ?2009 ? ?1999. Round your test statistic to two decimal places, your df down to the nearest whole number, and your P-value to three decimal places.)

t =

df =

P-value =

State your conclusion.

Fail to reject H0. There is not convincing evidence that the mean number of hours per day spent using electronic media was greater in 2009 than in 1999. Reject H0. There is convincing evidence that the mean number of hours per day spent using electronic media was greater in 2009 than in 1999. Reject H0. There is not convincing evidence that the mean number of hours per day spent using electronic media was greater in 2009 than in 1999. Fail to reject H0. There is convincing evidence that the mean number of hours per day spent using electronic media was greater in 2009 than in 1999. (b) Construct and interpret a 98% confidence interval estimate of the difference between the mean number of hours per day spent using electronic media in 2009 and 1999. (Use ?2009 ? ?1999. Round your answers to two decimal places.) to hours Interpret the interval. There is a 98% chance that the true mean number of hours per day spent using electronic media in 2009 is directly in the middle of these two values. We are 98% confident that the true mean number of hours per day spent using electronic media in 2009 is between these two values. There is a 98% chance that the true difference in mean number of hours per day spent using electronic media in 2009 and 1999 is directly in the middle of these two values. We are 98% confident that the true mean number of hours per day spent using electronic media in 1999 is between these two values. We are 98% confident that the true difference in mean number of hours per day spent using electronic media in 2009 and 1999 is between these two values.

1. Fill in the blanks and give reasons:

A. Fill in the generic strategy row above. (5 points)

The answer the following questions:

B. How different are the two firms’ financials? Explain each ratio. (5 points)

C. How are they related to their strategies? (5 points)

2. A. How would you interpret a current ratio of 0.8? (2 points)

B. Is it good or bad for the firm? (2 points)

C. What information you would need to extra to interpret it? (1 points)

3. Use this information for New Tech Company to answer the following question. You may (or may not) need to fill in missing information.

          NEW TECH COMPANY

INDUSTRY AVERAGE RATIOS

Which of the following items characterize New Tech Company? (It may be more than one option).

EXPLAIN (and report your calculations) (15 points)

1. High debt & unprofitable
2. Low debt & unprofitable
3. Decreasing profit margin
4. High Asset Utilization Performance
5. Low Asset Utilization Performance
6. Increasing sales with a decreasing sales growth rate
7. 1, 3 and 5 characterize New Tech Company

4. Using CAPSIM Practice Round Courier Reports for the Rounds :

A. Identify your closest competitor at the end of Round 3 ( Hint: identify a company with products & pricing (5 points)

B. Identify industry revenue (growth) averages, PM growth, and CM growth for the 3^rd Practice Rounds (10 points) for all the players in this industry

C. Create & growth and common-size “Selected Financial Statistics” Statements for from 2^nd Round to 3^rd Round (15 points)

D.

I.Write down the steps of strategic financial analysis ( 3 points)

II. Compare and contrast the performance of your firm vs. industry & the closest competitor. (12 points)

E. Which company performed the best? Which company performed the worst? for the end of the 3^rd Practice Round (10 points)

Using Excel Linear Solver Please answer the following, include all of the constraints.

You are a project manager for a consulting firm. You are going to hire four new employees. The candidates that you are choosing from are named Amy, Bob, Charlie, Debbie, and Elizabeth. You are managing two projects that you will use your new employees to complete. Project 1 will require at least 700 labor hours and Project 2 will require at least 870 labor hours. Elizabeth is the owner’s daughter so you will have to hire her. Amy and Charlie used to work together, but they can’t stand each other. If you hire one, you can’t hire the other. You have contracts that guarantee a set fee for each of the projects. Your profit will be determined by your ability to minimize your labor costs. Each of the employees you hire will require a signing bonus. The respective signing bonuses required for each employee if hired follow: Amy $24,000; Bob $11,000; Charlie $16,000; Debbie $17,000; Elizabeth $15,000. The hourly rate you pay each employee is determined by the type of project to which they are assigned. For Project 1, the required hourly rates for each employee if hired follow: Amy $100; Bob $95; Charlie $85; Debbie $50; Elizabeth $45. For Project 2, the required hourly rates for each employee if hired follow: Amy $60; Bob $40; Charlie $75; Debbie $120; Elizabeth $130. If you hire an employee, they can be used for both projects. Labor should be allocated in one hour increments. During the lifespan of these two projects, the candidates are available to work the following number of hours: Amy 440; Bob 730; Charlie 520; Debbie 680; Elizabeth 590. Which candidates will you hire?

Problem 01: Calculate individual stock average, standard deviation, variance, portfolio variance

Given are the daily returns for two stocks X and Y for five business days in last week. If you have 1000 dollars to invest and you are considering to invest 600 dollars in stock X and 400 dollars in stock Y. Calculate the following

A. average stock return for individual stocks

B. variance and standard deviations for the individual stocks

C. calculate the covariance and correlation between the two stocks

D. weights of the stocks in the portfolio

E. portfolio expected return

F. portfolio standard deviation and portfolio variance

Forchen, Inc., provided the following information for two of its divisions for last year:

Forchen, Inc., requires an 7 percent minimum rate of return.

Required:

1. Calculate residual income for the Small Appliances Division.

$ _____

2. Calculate residual income for the Cleaning Products Division.

$ _____

3. What if the minimum required rate of return was 8 percent? How would that affect the residual income of the two divisions?

Three put options on a stock have the same expiration date and strike prices of $50, $60, and $70. The market prices are $3, $5, and $9, respectively. Harry buys the $50 put, buys the $70 put and sells two of the $60 puts. Harry's strategy potentially makes money (i.e. positive profit) in which of the following price ranges?

(PYTHON) Lottery program. The program randomly generates a two-digit number, prompts the user to enter a single two- digit number, and determines whether the user wins according to the following rules. Write a loop to let the user play as many times as the user wanted. Use a sentinel or flag to quit out of the loop.

1.if the user’s input matches the lottery In the exact order, the award is $10,000.

2.if all the digits in the user’s input match all the digits in the lottery number, the award is $3,000.

3. if one digit in the user’s input matches a digit in the lottery number, the award is $1,000.