Problem 3-8B Complete the full accounting cycle (LO3-3, 3-4, 3-5, 3-6, 3-7)

[The following information applies to the questions displayed below.]

The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:

AccountsDebits Credits

Cash$3,950     

Accounts Receivable 8,950     

Supplies 2,950     

Equipment 25,000      

Accumulated Depreciation    $5,800

Accounts Payable     3,800

Utilities Payable     4,800

Deferred Revenue     0

Common Stock     17,500

Retained Earnings     8,950

Totals$40,850  $40,850

The following is a summary of the transactions for the year:

1. January 24 Provide plumbing services for cash, $14,500, and on account, $59,500.

2. March 13 Collect on accounts receivable, $47,500.

3. May 6 Issue shares of common stock in exchange for $12,000 cash.

4. June 30 Pay salaries for the current year, $31,900.

5. September 15 Pay utilities of $4,800 from 2020 (prior year).

6. November 24 Receive cash in advance from customers, $7,800.

7. December 30 Pay $1,900 cash dividends to stockholders.

The following information is available for the adjusting entries.

Depreciation for the year on the machinery is $5,800. Plumbing supplies remaining on hand at the end of the year equal $1,200. Of the $7,800 paid in advance by customers, $5,900 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,100.

rev: 09_24_2019_QC_CS-181994

Problem 3-8B Part 9

9. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Additional information.

PackCo is an Australian-listed company that manufactures packaging products. PackCo services customers that are mainly food and beverage producers. The company currently operates in Australia, New Zealand and USA, and employs more than 6,000 staff. With its head office in Melbourne, Victoria, PackCo is listed on the Australian Stock Exchange and operates a number of production facilities in Australia, mainly in Victoria and South Australia. Since its inception, the company has grown steadily with revenues reaching almost USD $4 billion in 2016. The company has also acquired a number of other businesses to support its business growth.

PackCo sells its products and services to both local and overseas customers, and is reliant on third party logistics (3PLs) for transportation and forwarding companies to move its products. A newly appointed Supply Chain Optimisation Manager, Aras, has been tasked to oversee transportation and freight optimisation within PackCo. His responsibilities include conducting RFPs (requests for proposals) for the selection of carriers, and also implementing S&OP and CPFR projects to ensure that demand planning within the category is cost efficient and service effective.

Despite the implementation of an ERP system, management and replenishment of inventory to the right location has been a challenge.

Aras, in his first weeks of this job in overseeing one of the business groups within PackCo, recognised that due to forecast inaccuracies, it would be a big challenge to get the transport planning right. Despite the implementation of an ERP system, due to master data inaccuracies, management and replenishment of inventory to the right location has been a challenge. This has led to the demand planners in his team resorting to using spreadsheets to communicate demand requirements to the providers. Also, the lack of accurate data has resulted in higher inventories and accumulation of aged and obsolete stock.

Aras realised that his supply chain team has constantly exceeded its logistics budget to provide outstanding service levels for customers. Due to lack of clear sales strategy, expedited delivery or special production runs for low-order customers have further reduced the profit margins. For example, one of PackCo’s biggest accounts, Healthy Foods, spends only $2 million a year and, yet the logistics costs incurred servicing this client as a percent of revenue is over 25%.

Q1: Supply Chain Optimisation Manager needs to formulate a demand management and planning strategy report to be presented to C-level executives. If you were Supply Chain Optimisation Manager, explain what strategies should be adopted to improve PackCo’s planning and management.

Q2. What should be PackCo’s immediate priority to solve its supply chain inefficiencies?

A large sports supplier has many stores located world wide. A regression model is to be constructed to predict the annual revenue of a particular store based upon the population of the city or town where the store is located, the annual expenditure on promotion for the store and the distance of the store to the center of the city.

Data has been collected on 30 randomly selected stores: (AT BOTTOM)

Find the multiple regression equation using all three explanatory variables. Assume that x₁ is population, x₂ is annual promotional expenditure and x₃ is distance to city center. Give your answers to 3 decimal places.

a) y^ = BLANK + BLANK population + BLANK promo. expenditure + BLANK dist. to city

e)The value of R² for this model, to 3 decimal places, is equal to

f)The value of s for this model, to 3 decimal places, is equal to

g)Construct a new multiple regression model by removing the variable distance to city center. Give your answers to 3 decimal places.

The new regression model equation is:

y^ = + population + promo. expenditure

At a level of significance of 0.05, the result of the F test for this model is that the null hypothesis A) Is B) is not rejected.

c)The explanatory variable that is most correlated with annual revenue is:

population
promotional expenditure
distance to city

d)The explanatory variable that is least correlated with annual revenue is:

population
promotional expenditure
distance to city

H) In the new model compared to the previous one, the value of R² (to 3 decimal places) is:

increased
decreased
unchanged

i)In the new model compared to the previous one, the value of s (to 3 decimal places) is:

increased
decreased
unchanged

What is your interpretation of the changes to the contribution margin per unit and the operating income on account of the unit price charged to the distributor? At a current operating level of 100,000 units, the company will not have to turn away any of its regular customers in order to fill the special order. If it wishes to increase operating income by $3 per unit included in the special order, it only needs to generate a contribution margin per unit of $3 Thus, the selling price per unit included in the special order is $25 .

Consider a paint-drying situation in which drying time for a test specimen is normally distributed with σ = 6. The hypotheses H₀: μ = 74 and H_a: μ < 74 are to be tested using a random sample of n = 25 observations.

(a) How many standard deviations (of X) below the null value is x = 72.3? (Round your answer to two decimal places.)
standard deviations

(b) If x = 72.3, what is the conclusion using α = 0.004?
Calculate the test statistic and determine the P-value. (Round your test statistic to two decimal places and your P-value to four decimal places.)

State the conclusion in the problem context.

Do not reject the null hypothesis. There is sufficient evidence to conclude that the mean drying time is less than 74.Reject the null hypothesis. There is not sufficient evidence to conclude that the mean drying time is less than 74.    Reject the null hypothesis. There is sufficient evidence to conclude that the mean drying time is less than 74.Do not reject the null hypothesis. There is not sufficient evidence to conclude that the mean drying time is less than 74.

(c) For the test procedure with α = 0.004, what is β(70)? (Round your answer to four decimal places.)
β(70) =  

(d) If the test procedure with α = 0.004 is used, what n is necessary to ensure that β(70) = 0.01? (Round your answer up to the next whole number.)
n =  specimens

(e) If a level 0.01 test is used with n = 100, what is the probability of a type I error when μ = 76? (Round your answer to four decimal places.)

Listed below are several transactions that took place during the second and third years of operations for RPG Company. Year 2 Year 3 Amounts billed to customers for services rendered $ 370,000 $ 470,000 Cash collected from credit customers 280,000 420,000 Cash disbursements: Payment of rent 82,000 0 Salaries paid to employees for services rendered during the year 142,000 162,000 Travel and entertainment 32,000 42,000 Advertising 16,000 37,000 In addition, you learn that the company incurred advertising costs of $27,000 in year 2, owed the advertising agency $5,200 at the end of year 1, and there were no liabilities at the end of year 3. Also, there were no anticipated bad debts on receivables, and the rent payment was for a two-year period, year 2 and year 3. Required: 1. Calculate accrual net income for both years. 2. Determine the amount due the advertising agency that would be shown as a liability on RPG’s balance sheet at the end of year 2. Calculate accrual net income for both years. Question 1 Year 2 Year 3 Revenues Expenses: Rent Salaries Travel and entertainment Advertising Net income Question 2 Determine the amount due the advertising agency that would be shown as a liability on RPG’s balance sheet at the end of year 2.

Case Study: Identifying and creating new markets - a new strategy for a global leader

Introduction

Nearly everyone is aware of Intel. It is the world's fifth most valuable brand valued at around $35 billion. Most of the world's personal computers are driven by Intel microprocessors.

By concentrating on producing great microprocessors Intel was able to leave its competitors behind. The company invested billions of dollars in highly productive manufacturing plants that could produce more processors in a day than some of their rivals could produce in a year.

Today Intel is continuing to raise the bar. In January 2006 the company launched its new strategy based on identifying and creating new markets. Instead of just focusing on personal computers (PCs) Intel will play a key technological role in a range of fields including consumer electronics, wireless communications and healthcare.

Intel has been one of the world's high achieving businesses. Its global appeal is not surprising. In recent years almost every time you opened up a laptop you would see that it was labelled 'Intel@ Inside'. Seeing this, the user knew that they had a high performing and reliable computer.

We all want to be able to use more powerful technology, which is simple to operate, and helps us to do things without having to think about it. However, Intel has moved on. The problem with simply being a producer of processors is that other firms can move into your market. Once they produce similar products the only way you can differentiate is by offering lower prices.

Intel's new strategy is to create lots of different types of chips and software and then combine them together into platforms. A platform is an integrated set of proven technologies designed to work together. They provide people and businesses with improved communications and computing capabilities. These platforms will enable Intel to bring added value for consumers, win a larger share of consumer expenditure and increase revenue.

Platforms will make life easier for people in a range of settings from the home, to business, and medical settings. Intel's vision involves giving people access to easy-to-use technologies through these platforms. It is seeking to continually satisfy customer requirements by producing a range of new and exciting products.

Developing a new strategy

Intel is an 'ingredient brand'. Its products and processors form part of the products that consumers purchase. Building key relationships with leading electronic firms such as Sony and Philips is an important strategy. The aim is to provide the manufacturers of products such as laptops, mobile phones and entertainment personal computers with integrated packages of chips and software - in other words a complete solution.

A key part of Intel's more integrated platform strategy involves the development of several technologies. These improve processor efficiency and allow computer users to take better advantage of:

multi-tasking

security

reliability

manageability

wireless computing capabilities.

Intel's strategy is to be at the heart of new developments in home entertainment, security, medical care, etc. Great results are achieved through developing the right products for the right markets before competitors do so.

Restructuring Intel around its market

Intel built its early success on providing ingredients for personal computers with its prime driver being technology. It was dominated by engineers and worked closely with Microsoft and PC manufacturers such as Dell, Compaq and IBM.

The new strategy continues the emphasis on producing excellent products. However, there is now a strong focus on marketing- finding out what customers want and then meeting their requirements. Customers need to know what these new products can do for them. Clear communication is therefore essential. The emphasis is on marketing and communicating with customers about what the new technologies can do for them.

Conclusion

Intel is one of the success stories of the high-tech world. It provides vital components for personal computing. Now the company is moving forward into a range of new and exciting products and markets with a much stronger focus on marketing

Read the above case study and answer the following questions:

1. Investigate how the micro environment and the macro environment have an effect on its marketing and business.

2. Analyze the STP (Segmentation, Targeting and Positioning) strategies of the organization. Evaluate its marketing mix which leads to achievement of consumer satisfaction and organizational goals.

3. Develop strategies that could result in the organization taking better marketing decisions.

Note the Answers should be computerized and answered in details - Please do not copy and Paste

Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations.

2-c. Prepare balance sheet for May 31.
3. Prepare statement of cash flows for May.

Is it possible to run Levene's test with multiple comparisons in minitab? I am trying to run equal variances, the levene's test, and minitab somehow doesn't like the data. I already made 3 columns in minitab sheet

prompt:

A Datamore Company designs applications software for a number of large firms. A study is conducted to assess the satisfaction of these firms with the supplied software. Datamore decides to determine if the type of industry [Human Resources, Information Technology, Financial, and Insurance] is relevant to satisfaction. Additionally, the company would like to assess the abilities of its sales force [Britknee Phanshear, Megan Hearts, & Jessika Wahlstrom]. They send questionnaires out a number of companies in each of the industries in they do business and ask them to evaluate the company and their contact. The satisfaction scores are found below

So I input the table above in minitab in 3 columns. but when I runt the equal variances test, it comes out an error. Could anyone tell me step by step on how to get the levene's test working?  

Sheridan Company’s balance sheet at December 31, 2021, is presented below.

During January 2022, the following transactions occurred. Sheridan uses the perpetual inventory method.

Adjustment data:

(You may want to set up T-accounts to determine ending balances.)

Prepare journal entries for the transactions listed above and adjusting entries. (Include entries for cost of goods sold using the perpetual inventory system.) AND Prepare an adjusted trial balance at January 31, 2022 AND Prepare an income statement for the month ending January 31, 2022. AND Prepare a retained earnings statement for the month ending January 31, 2022 AND Prepare a classified balance sheet as of January 31, 2022.