Cicchetti Corporation uses customers served as its measure of activity. The following report compares the planning budget to the actual operating results for the month of December: Cicchetti Corporation Comparison of Actual Results to Planning Budget For the Month Ended December 31 Actual Results Planning Budget Variances Customers served 34,000 29,500 Revenue ($4.8q) $ 164,000 $ 141,600 $ 22,400 F Expenses: Wages and salaries ($37,100 + $1.6q) 94,600 84,300 10,300 U Supplies ($0.6q) 20,000 17,700 2,300 U Insurance ($14,100) 14,350 14,100 250 U Miscellaneous expense ($7,100 + $0.4q) 22,450 18,900 3,550 U Total expense 151,400 135,000 16,400 U Net operating income $ 12,600 $ 6,600 $ 6,000 F
Prepare the company's flexible budget performance report for December. Select each variance as favorable (F), unfavorable (U) or "None".
In: Accounting
Arctic Air Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follows:
|
1 |
Price per unit |
$60,000.00 |
|
2 |
Cost of goods sold |
28,000.00 |
|
3 |
Gross profit per unit |
$32,000.00 |
In addition, the company incurs selling and administrative expenses of $226,250. The company wishes to assign these costs to its three major customers, Gough Industries, Breen Inc., and The Martin Group. These expenses are related to three major nonmanufacturing activities: customer service, project bidding, and engineering support. The engineering support is in the form of engineering changes that are placed by the customer to change the design of a product. The budgeted activity costs and activity bases associated with these activities are:
|
1 |
Activity |
Budgeted Activity Cost |
Activity Base |
|
2 |
Customer service |
$31,500.00 |
Number of service requests |
|
3 |
Project bidding |
74,000.00 |
Number of bids |
|
4 |
Engineering support |
120,750.00 |
Number of customer design changes |
|
5 |
Total costs |
$226,250.00 |
Activity-base usage and unit volume information for the three customers is as follows:
|
Gough Industries |
Breen Inc. |
The Martin |
||
|---|---|---|---|---|
|
Group |
Total |
|||
| Number of service requests | 36 | 28 | 116 | 180 |
| Number of bids | 50 | 40 | 95 | 185 |
| Number of customer design changes | 18 | 35 | 108 | 161 |
| Unit volume | 30 | 16 | 4 | 50 |
| Required: | |
| 1. | Determine the activity rates for each of the three nonmanufacturing activity pools. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. |
| 2. | Determine the activity costs allocated to the three customers, using the activity rates in (1). Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. |
| 3. | Construct customer profitability reports for the three customers, dated for the year ended December 31, using the activity costs in (2). The reports should disclose the gross profit and income from operations associated with each customer. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Colons (:) will automatically appear if required. Enter all amounts as positive numbers, except for a negative income from operations. |
| Labels | |
| December 31 | |
| For the Year Ended December 31 | |
| Selling and administrative activities | |
| Amount Descriptions | |
| Breen Inc. | |
| Cost of goods sold | |
| Customer service | |
| Engineering support | |
| Gough Industries | |
| Gross profit | |
| Income from operations | |
| Other income (expense) | |
| Plantwide factory overhead rate | |
| Product cost distortion | |
| Project bidding | |
| Revenues | |
| The Martin Group | |
| Total selling and administrative activities |
1. Determine the activity rates for each of the three nonmanufacturing activity pools. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
|
1 |
per serv. req. |
||
|
2 |
per bid |
||
|
3 |
per design change |
2. Determine the activity costs allocated to the three customers, using the activity rates in (1). Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
|
1 |
Activity Costs |
|
|
2 |
||
|
3 |
||
|
4 |
3. Construct customer profitability reports for the three customers, dated for the year ended December 31, using the activity costs in (2). The reports should disclose the gross profit and income from operations associated with each customer. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Colons (:) will automatically appear if required. Enter all amounts as positive numbers, except for a negative income from operations.
|
Arctic Air Inc. |
|
Customer Profitability Report |
|
1 |
Gough Industries |
Breen Inc. |
The Martin Group |
|
|
2 |
||||
|
3 |
||||
|
4 |
||||
|
5 |
||||
|
6 |
||||
|
7 |
||||
|
8 |
||||
|
9 |
||||
|
10 |
In: Accounting
A study to assess the capability of subsurface flow wetland systems to remove biochemical oxygen demand (BOD) and various other chemical constituents resulted in the accompanying data on x = BOD mass loading and y = BOD mass removal.
x =BOD mass loading 8 10 11 13 16 27
y = BOD mass removal 7 8 8 10 27 16
a)Obtain the estimated ??̂0 and ??̂1 coefficients. (4 pts.) Show your calculations.
b)Write the linear regression equation. (2 pts.)
c)Calculate the coefficient of determination (R^2) ( 4 pts.)
d)Does there appear to be a useful relationship between BOD mass loading and BOD mass removal? State and test the appropriate hypothesis. Use ?=0. 05.
In: Statistics and Probability
CALC- A web page designer creates an animation in which a dot on a computer screen has position r=[4 cm + (2.5cm/s^2)t^2] i +(5.0 cm/s)t j
a) find the magnitude and direction of the dot's average velocity between t=0 and t=2. b) Find the magnitude and direction of the instantaneous velocity at t=0, t=1, and t=2.
I understand how to solve for the magnitude for each of these questions but the answer in the back of the book for t=2 direction is 27 degrees. When using SOHCAHTOA, shouldn't it be tan^-1(10/5)? but the only way to get 27 is tan^-1(5/10)
Could someone explain to me why tanx(x/y) would be the case here?
In: Physics
1a. Identify the similarities and differences between other healthcare agencies and WHO (world health organization).
1b. How does WHO (world health organization) monitor performance, achieve regulatory and accreditation compliance, and improve overall organizational performance.
1c. Describe how the WHO (world health organization) communicate with leadership to ensure alignment of organizational goals and gain buy-in from staff to achieve compliance with the standards and requirements issued by regulatory and accreditation bodies.
1d. Describe how the WHO (world health organization) is compliant with the regulations and development of risk- and quality-management systems for each type of organization contribute to the organization's overall performance-management system.
In: Economics
Aarav is developing a training session for the community service worker, that will explain ways in which they can contribute to improvements in their workplace. Aarav wants to make sure he does not exclude any information that relates to the community service sectors, so he ask Vivaan to review his training content. Vivaan has been working across the community service sector for over 30 year and is a wealth of information on links between service, service models, feedback processes and opportunity for sill and knowledge development. read the case study and answer the following question.
What information might Vivaan share regarding the role of an organisation’s structure in optimising care?
In: Nursing
A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a sure rate of 4.3%. The probability distributions of the risky funds are:
| Expected Return | Standard Deviation | |
| stock fund (S) | 13% | 34% |
| bond fund (B) | 6% | 27% |
The correlation between the fund returns is .0630. Suppose now that your portfolio must yield an expected return of 11% and be efficient, that is, on the best feasible CAL.
a. What is the standard deviation of your portfolio? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b-1. What is the proportion invested in the T-bill fund? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b-2. What is the proportion invested in each of the two risky funds? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
In: Finance
The following data was collected to explore how the average number of hours a student studies per night and the student's GPA affect their ACT score. The dependent variable is the ACT score, the first independent variable (x1 x 1 ) is the number of hours spent studying, and the second independent variable (x2 x 2 ) is the student's GPA.
Study Hours GPA ACT Score
1 2 18
5 2 27
5 3 29
6 3 31
6 3 31
Step 1 of 2:
Find the p-value for the regression equation that fits the given data. Round your answer to four decimal places.
Step 2 of 2:
Determine if a statistically significant linear relationship exists between the independent and dependent variables at the 0.050.05 level of significance. If the relationship is statistically significant, identify the multiple regression equation that best fits the data, rounding the answers to three decimal places. Otherwise, indicate that there is not enough evidence to show that the relationship is statistically significant.
In: Statistics and Probability
The following data was collected to explore how the average number of hours a student studies per night and the student's GPA affect their ACT score. The dependent variable is the ACT score, the first independent variable (x1) is the number of hours spent studying, and the second independent variable (x2) is the student's GPA.
| Study Hours | GPA | ACT Score |
|---|---|---|
| 3 | 3 | 17 |
| 3 | 3 | 17 |
| 4 | 4 | 21 |
| 5 | 4 | 27 |
| 6 | 4 | 31 |
Step 1 of 2 :
Find the p-value for the regression equation that fits the given data. Round your answer to four decimal places.
Step 2 of 2 : Determine if a statistically significant linear relationship exists between the independent and dependent variables at the 0.01 level of significance. If the relationship is statistically significant, identify the multiple regression equation that best fits the data, rounding the answers to three decimal places. Otherwise, indicate that there is not enough evidence to show that the relationship is statistically significant.
In: Statistics and Probability
The Sales Manager at City Real Estate Company is interested in describing the relationship between condo sales prices and the number of weeks the condo is on the market before its sells. He has collected a random sample of 17 low end condos that have sold within the past three months. These data are as follows:
|
Weeks on the Market |
Selling Price |
|
23 |
$ 76,500.00 |
|
48 |
$ 102,000.00 |
|
9 |
$ 53,000.00 |
|
26 |
$ 84,200.00 |
|
20 |
$ 73,000.00 |
|
40 |
$ 125,000.00 |
|
51 |
$ 109,000.00 |
|
18 |
$ 60,000.00 |
|
25 |
$ 87,000.00 |
|
62 |
$ 94,000.00 |
|
33 |
$ 76,000.00 |
|
11 |
$ 90,000.00 |
|
15 |
$ 61,000.00 |
|
26 |
$ 86,000.00 |
|
27 |
$ 70,000.00 |
|
56 |
$ 133,000.00 |
|
12 |
$ 93,000.00 |
In: Statistics and Probability