Payments of $6,000.00 are made into a fund at the beginning of each year for ten years. The fund is invested at an annual effective rate of i. The interest generated is reinvested at 10%. The total accumulated value at the end of the ten years is $98,180.00. Find I round to 3 decimal places

The table below shows the number of deaths in the U.S. in a year due to a variety of causes. For these questions, assume these values are not changing from year to year, and that the population of the United States is 312 million people. Cause Deaths Passenger car occupant (driver or rider) 13,100 Motorcycle (driver or rider) 4,500 Tornado 553 Skydiving 56

a) What is the probability that an American chosen at random died as a passenger car occupant last year? 0.719 Incorrect Give your answer as a fraction or decimal. If decimal, make sure your answer is accurate to at least 2 significant figures (values after leading zeros)

The table below shows the number of deaths in the U.S. in a year due to a variety of causes. For these questions, assume these values are not changing from year to year, and that the population of the United States is 312 million people. Cause Deaths Passenger car occupant (driver or rider) 13,100 Motorcycle (driver or rider) 4,500 Tornado 553 Skydiving 56 Hint: b)Does your probability of dying in a car accident next year differ much from the probability of a random person dying in a car accident?

c) Estimate the probability that you will die as a passenger car occupant next year? Incorrect 0.0000018 Make sure your answer is accurate to at least 2 significant figures (values after leading zeros)

The table below shows the number of deaths in the U.S. in a year due to a variety of causes. For these questions, assume these values are not changing from year to year, and that the population of the United States is 312 million people. Cause Deaths Passenger car occupant (driver or rider) 13,100 Motorcycle (driver or rider) 4,500 Tornado 553 Skydiving 56

d) What is the probability that an American chosen at random will die as the result of a tornado next year? 0.25Incorrect Make sure your answer is accurate to at least 2 significant figures (values after leading zeros)

The table below shows the number of deaths in the U.S. in a year due to a variety of causes. For these questions, assume these values are not changing. Cause Deaths Passenger car occupant (driver or rider) 13,100 Motorcycle (driver or rider) 4,500 Tornado 553 Skydiving 56

g) People sometimes claim skydiving is less dangerous than driving or riding in a car. Does the data support this claim? Explain. The table below shows the number of deaths in the U.S. in a year due to a variety of causes. For these questions, assume these values are not changing. Cause Deaths Passenger car occupant (driver or rider) 13,100 Motorcycle (driver or rider) 4,500 Tornado 553 Skydiving 56

h) People sometimes claim motorcycle riding is less dangerous than traveling by car. Does the data support this claim? What additional information and/or calculations would be useful to evaluate this claim?

In any given year, an insurance company believes the following:

-0.6 of drivers are safe.

-0.25 of safe drivers wear seatbelts

-0.10 of unsafe drivers wear seatbelts

-0.10 of safe drivers experience an accident in a year

-0.20 of unsafe drivers experience an accident in a year

-Given a driver experiences an accident, the driver has probability 0.01 they will be taken to the hospital if they were wearing a seatbelt

-Given a driver experiences an accident, the driver has probability 0.2 they will be taken to the hospital if they were not wearing a seatbelt

What is the probability a driver will be taken the hospital this year (as a result of an accident)? Given that a driver wears a seatbelt, what is the probability he/she will be taken to the hospital this year?

a) A magazine collects data each year on the price of a hamburger in a certain fast food restaurant in various countries around the world. The price of this hamburger for a sample of restaurants in Europe in January resulted in the following hamburger prices (after conversion to U.S. dollars).

The mean price of this hamburger in the U.S. in January was $4.61. For purposes of this exercise, assume it is reasonable to regard the sample as representative of these European restaurants. Does the sample provide convincing evidence that the mean January price of this hamburger in Europe is greater than the reported U.S. price? Test the relevant hypotheses using  α = 0.05.

(Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to three decimal places.)

t= __

p- value = ___

b) The risk of developing iron deficiency is especially high during pregnancy. Detecting such a deficiency is complicated by the fact that some methods for determining iron status can be affected by the state of pregnancy itself. Consider the following data on transferrin receptor concentration for a sample of women with laboratory evidence of overt iron-deficiency anemia.

(a) Compute the values of the sample mean and median. (Round your answers to two decimal places.)

Which of the mean and median do you regard as more representative of the sample, and why?

choice a) The mean is always more representative of a sample.

choice b)The mean because it is not influenced by the three extreme values at the upper end of the distribution.  

choice c) The median because it is not influenced by the three extreme values at the upper end of the distribution.

choice d) The median is always more representative of a sample.

The first budget is to be for the second quarter of the current year (April, May and June). To assist in developing the budget figures, the divisional controller has accumulated the following information.

Sales: Sales through the first three months of the current year were 30,000 units. Actual sales in units for January, February, and March, and planned sales in units over the next five months, are given below:

January (actual) 6,000

February (actual) 10,000

March (actual) 14,000

April (planned) 20,000

May (planned) 34,000

June (planned) 51,000

July (planned) 45,000

August (planned) 30,000

In total, the East Division expects to produce and sell 250,000 units during the current year.

Direct Material: Two different materials are used in production of the component. Data regarding these materials are given below:

Material 208:

Materials per Finished Component: 4 pounds

Cost per pound: $5.00

Inventory at March 13: 46,000 pounds

Material 311:

Materials per Finished Component: 9 feet

Cost per foot: $2.00

Inventory at March 31: 69,000 feet

Material No. 208 is sometimes in short supply. Therefore, the East Division requires that enough of the material be on hand at the end of each month to provide for 50% of the following month’s production needs. Material No. 311 is easier to get, so only one-third of the following month’s production needs must be on hand at the end of each month.

Direct Labor:   The East Division has three department through which the components must past before they are completed. Information relating to direct labor in these departments is given below:

Department: Shaping

Direct Labor Hours per Finished Component: .25

Cost per Direct Labor Hour: $18.00

Department: Assembly

Direct Labor Hours per Finished Component: .70

Cost per Direct Labor Hour: $16.00

Department: Finishing

Direct Labor Hours per Finished Component: .10

Cost per Direct Labor Hour: $20.00

Direct labor is adjusted to the workload each month.

Manufacturing Overhead: East Division manufactured 32,000 components during the first three months of the current year. The actual variable overhead costs incurred during this three-month period are shown below. Each Division’s controller believes that the variable overhead costs incurred during the last nine months of the year will be at the same rate per component as experienced during the first three months.

Utilities $57,000

Indirect Labor $31,000

Supplies $16,000

Other $8,000

Total variable overhead $112,000

The East Division has planned fixed manufacturing overhead costs for the entire year as follows:

Supervision $872,000

Property Taxes $143,000

Depreciation $2,910,000

Insurance $631,000

Other $72,000

Total fixed manufacturing

  Overhead $4,628,000

Finished Goods Inventory: The desired monthly ending inventory of completed components is 20% of the next month’s estimated sales. The East Division has 4,000 units in the finished goods inventory on March 31.

Selling and Administrative Expenses: Selling and Administrative Expenses are budgeted at $400,000 per month plus 1% of total credit sales for the month.

I NEED MANUFACTURING OVERHEAD BUDGET

  CASH BUDGET SALES BUDGET S CHEDULE OF EXPECTED CASH COLLECTIONS

The first budget is to be for the second quarter of the current year (April, May and June). To assist in developing the budget figures, the divisional controller has accumulated the following information.

Sales: Sales through the first three months of the current year were 30,000 units. Actual sales in units for January, February, and March, and planned sales in units over the next five months, are given below:

January (actual) 6,000

February (actual) 10,000

March (actual) 14,000

April (planned) 20,000

May (planned) 34,000

June (planned) 51,000

July (planned) 45,000

August (planned) 30,000

In total, the East Division expects to produce and sell 250,000 units during the current year.

Direct Material: Two different materials are used in production of the component. Data regarding these materials are given below:

Material 208:

Materials per Finished Component: 4 pounds

Cost per pound: $5.00

Inventory at March 13: 46,000 pounds

Material 311:

Materials per Finished Component: 9 feet

Cost per foot: $2.00

Inventory at March 31: 69,000 feet

Material No. 208 is sometimes in short supply. Therefore, the East Division requires that enough of the material be on hand at the end of each month to provide for 50% of the following month’s production needs. Material No. 311 is easier to get, so only one-third of the following month’s production needs must be on hand at the end of each month.

Direct Labor:   The East Division has three department through which the components must past before they are completed. Information relating to direct labor in these departments is given below:

Department: Shaping

Direct Labor Hours per Finished Component: .25

Cost per Direct Labor Hour: $18.00

Department: Assembly

Direct Labor Hours per Finished Component: .70

Cost per Direct Labor Hour: $16.00

Department: Finishing

Direct Labor Hours per Finished Component: .10

Cost per Direct Labor Hour: $20.00

Direct labor is adjusted to the workload each month.

Manufacturing Overhead: East Division manufactured 32,000 components during the first three months of the current year. The actual variable overhead costs incurred during this three-month period are shown below. Each Division’s controller believes that the variable overhead costs incurred during the last nine months of the year will be at the same rate per component as experienced during the first three months.

Utilities $57,000

Indirect Labor $31,000

Supplies $16,000

Other $8,000

Total variable overhead $112,000

The East Division has planned fixed manufacturing overhead costs for the entire year as follows:

Supervision $872,000

Property Taxes $143,000

Depreciation $2,910,000

Insurance $631,000

Other $72,000

Total fixed manufacturing

  Overhead $4,628,000

Finished Goods Inventory: The desired monthly ending inventory of completed components is 20% of the next month’s estimated sales. The East Division has 4,000 units in the finished goods inventory on March 31.

Selling and Administrative Expenses: Selling and Administrative Expenses are budgeted at $400,000 per month plus 1% of total credit sales for the month.

I NEED MANUFACTURING OVERHEAD BUDGET

  CASH BUDGET SALES BUDGET S CHEDULE OF EXPECTED CASH COLLECTIONS

Since the SUTA rates changes are made at the end of each year and there is much discussion about changes to the FUTA rate, the available 2017 rates were used for FUTA and SUTA.

Note: For this textbook edition the rate 0.6% was used for the FUTA tax rate for employers.

Example 5-5

Sutcliffe Company had taxable wages totaling $87,500 in 2018. During the year, the company paid some of its state contributions after the January 31, 2019, cutoff. The penalty for tardiness is shown in the following calculation of the firm's net FUTA tax for 2018:

Example 5-6

Yeldon Company has a $70,000 federal and state taxable payroll and has earned a reduced state tax rate of 4 percent. If none of its state tax payments are timely, the FUTA tax calculation is as follows:

If Yeldon Company had made its SUTA payments before the due date of Form 940, the credit for the payments (4%) and the additional credit (1.4%) would have provided a total credit of $3,780 and a FUTA tax savings of $280.

Peroni Company paid wages of $164,500 this year. Of this amount, $126,900 was taxable for net FUTA and SUTA purposes. The state's contribution tax rate is 3.1% for Peroni Company. Due to cash flow problems, the company did not make any SUTA payments until after the Form 940 filing date. Compute the following; round your answers to the nearest cent.

a. Amount of credit the company would receive against the FUTA tax for its SUTA contributions
$________

b. Amount that Peroni Company would pay to the federal government for its FUTA tax
$________

c. Amount that the company lost because of its late payments
$________

At the end of the year, a company has the following accounts receivable and estimates of uncollectible accounts:

1. Accounts not yet due = $76,000: Estimated uncollectible = 7%

2. Accounts 1-30 days past due =$39,000' estimated uncollectible = 25%

3. accounts more than 30 days past due = $7,000; estimated uncollectible = 45%

Record the year-end adjustment for uncollectible accounts, assuming the current balance of the Allowance for Uncollectible accounts is (1,800 (debit)

Record the bad debt expense