A study of lawn destroying insects where some yards in a small town were randomly inspected determined the square footage an infestation of insects could eat per day is displayed in the table below. (Show all work for credit, including calculations and complete parts a) Find all variables( SE, z or t, P-value, p hat, etc)
| Grubs | 47 | 54 | 64 | 76 | 88 | 97 |
| Cinch | 55 | 60 | 62 | 91 | 76 | 109 |
Does the difference in samples give us enough evidence to conclude that there is a difference between grub infestation and cinch infestation? Perform a hypothesis test, and state your conclusion.
In: Statistics and Probability
he Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1:
| Estimated revenues: | ||||
| Taxes | $ | 14,700,000 | ||
| Intergovernmental revenues | 1,075,000 | |||
| Licenses and permits | 420,000 | |||
| Fines and forfeits | 165,000 | |||
| Miscellaneous revenues | 115,000 | |||
| Total estimated revenues | $ | 16,475,000 | ||
| Appropriations: | ||||
| General government | $ | 7,925,000 | ||
| Public safety | 5,970,000 | |||
| Public works | 1,520,000 | |||
| Health and welfare | 920,000 | |||
| Miscellaneous | 85,000 | |||
| Total appropriations | $ | 16,420,000 | ||
Required
a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
a-2. Show entries in the subsidiary ledger accounts.
In: Accounting
Lakeesha Barnett owns and operates a package mailing store in a college town. Her store, Send It Packing, helps customers wrap items and send them via UPS, FedEx, and the USPS. Send It Packing also rents mailboxes to customers by the month. In May, purchases of materials (stamps, cardboard boxes, tape, Styrofoam peanuts, bubble wrap, etc.) equaled $11,350; the beginning inventory of materials was $1,050, and the ending inventory of materials was $950. Payments for direct labor during the month totaled $25,500. Overhead incurred was $18,100 (including rent, utilities, and insurance, as well as payments of $14,050 to UPS and FedEx for the delivery services sold). Since Send It Packing is a franchise, Lakeesha owes a monthly franchise fee of 5 percent of sales. She spent $2,750 on advertising during the month. Other administrative costs (including accounting and legal services and a trip to Dallas for training) amounted to $3,600 for the month. Revenues for May were $102,000.
Required:
1. What was the cost of materials used for
packaging and mailing services during May?
$
2. What was the prime cost for May?
$
3. What was the conversion cost for May?
$
4. What was the total cost of services for
May?
$
In: Accounting
Joanna and Joe both love pizza. They go to a famous pizza bar in mid-town Manhattan called Sloppy Pizza. When they reach there, they hear about a contest that’s going on. They want to share the “Marvellous Pizza” together. That’s an8 slice pizza which is amazing!
The owner tells them to write on a piece of paper how many slices they each want out of the 8 slices of pizza. He puts them on separate tables and makes sure they don’t see each other’s chosen number. Thus the choices are made simultaneously. Each player can ask for any number of slices between 1 and 8 both inclusive, integer numbers only.
If the sum of the numbers they each write is less than or equal to 8, they each get the number of slices they named for free! If the sum of the numbers they each write is greater than8, and their chosen numbers are different, then the one with the smaller number gets the pizza slices theywrote (for free) and the other player is asked to leave. If sum of the numbers they each write is greater than 8, and they choose equal slices, they both get 4 slices each. Each player’s utility is the number of pizza slices he gets to eat.
In: Economics
A study claims residents in a suburban town spend 1.8 hours per weekday commuting. A researcher wanted to see if this claim was true by sampling 101 adults. The mean and standard deviation of time spent commuting per weekday is shown below:
X=2.1 s=0.5
Can you support the claim (a=.05) that the mean time spent commuting per weekday is more than 1.8 hours. Show all steps (Design, Data, Conclusion).
In designing the test shown in part a, the researcher was concerned about the power of the test if the actual time commuting was 1.9 hours. Under the test described in Part a, Power was calculated to be only 64%. Determine the probability of making Type II error (given Ha is true) for this design.
How would the following modifications to the design
affect the power
(choose one answer)?
Change the sample size to 200: increase power or reduce
power
Change significance level to 1%: increase power or
reduce power
Change actual commuting time to 1.95 hours: increase power or reduce power
In: Statistics and Probability
Carver Lumber sells lumber and general building supplies to
building contractors in a medium-sized town in Montana. Data
regarding the store's operations follow:
- Sales are budgeted at $350,000 for November, $320,000 for
December, and $300,000 for January.
- Collections are expected to be 90% in the month of sale, 8% in
the month following the sale, and 2% uncollectible.
- The cost of goods sold is 75% of sales.
- The company purchases 60% of its merchandise in the month prior
to the month of sale and 40% in the month of sale. Payment for
merchandise is made in the month following the purchase.
- Other monthly expenses to be paid in cash are $24,700.
- Monthly depreciation is $16,000.
- Ignore taxes.
Reference: 9-23
Accounts payable at the end of December would be:
|
$231,000 |
||
|
$96,000 |
||
|
$135,000 |
||
|
$240,000 |
In: Accounting
The following table gives the total weekly output of bicycles at Al’s Bicycle Town.
Table 1
|
Labor |
Total Product (TP) |
Average Product of Labor (AP) |
Marginal Product of Labor (MP) |
|
0 |
0 |
n/a |
n/a |
|
1 |
100 |
100 |
100 |
|
2 |
300 |
||
|
3 |
450 |
||
|
4 |
110 |
||
|
5 |
630 |
||
|
6 |
110 |
Complete this table.
Draw the graphs of the marginal product (MP) and the average product (AP).
To learn how to plot the data in Excel, see https://www.youtube.com/watch?v=B3U9tDcoNeI
Where do the AP and MP curve cross?
The cost of 1 worker is $2000 per month. Total fixed cost is $4000 per month.
Complete Table 2 using your answers from Table 1 and by computing total variable cost (TVC) and total cost(TC).
Table 2
|
Labor |
Total Product (TP) |
Total Variable Cost (TVC) |
Total Cost (TC) |
|
0 |
0 |
n/a |
4000 |
|
1 |
100 |
2000 |
|
|
2 |
300 |
||
|
3 |
450 |
||
|
4 |
12000 |
||
|
5 |
630 |
||
|
6 |
12000 |
Draw the graphs of the TC and TVC curves. What is the relationship between these two curves?
Complete Table 3 by using your answers from the previous Tables and calculating the AVC, ATC, and MC.
|
Total Product (TP) |
Average Variable Cost (AVC) |
Average Total Cost (ATC) |
Marginal Cost (MC) |
|
0 |
n/a |
n/a |
n/a |
|
100 |
20 |
100 |
20 |
|
300 |
|||
|
450 |
|||
|
21.43 |
|||
|
630 |
|||
|
66.67 |
Draw the graphs of the ATC, AVC, and MC curves. What is the relationship between the ATC and AVC curves? Between the MC and AVC curves?
In: Economics
85. A 25-year-old man is a resident of a small town near London. He likes to eat beefsteak. He develops
a severe progressive neurologic disease characterized by psychiatric symptoms, cerebellar signs, and
dementia.
86. A 40-year old woman with many lifetime sexual partners is diagnosed with cervical cancer.
This cancer is common worldwide and has a sexually transmitted viral etiology. The causative
agent of human cervical cancer is
87. A 50-year-old male went to the ER because of meningitis symptoms. He complained of
headaches and stiff neck. His hobby is racing and raising pigeons. He is HIV positive and
routinely takes his anti-retrovial drugs. A lumbar puncture is formed and budding encapsulated yeast
are identified after an India ink preparation was done.
88. A 30-year-old florist presents at her physician’s office complaining of a ulcerated lesion on her left hand after being pricked by a rose thorn. The doctor notices abcesses running along the lymphatic channels. This dimorphic fungi is
89. A 25-year-old spelunker who lives in Mississippi has a pulmonary infection that is getting worse.
His Xray shows an infiltrate or darkened left lobe. Sputum showed pear shaped macroconidia and
Staining of colonies showed spores resembling sunflowers in bloom’
90. A 30-year-old immigrant from Central America presents with a mild respiratory infection. He
only has mild changes in his lungs and gave a positive skin test. Sputum was stained and thick
walled spherical yeast resembling a mariner’s wheel or a boatman’s wheel were seen.
In: Biology
High-Low Method
Luisa Crimini has been operating a beauty shop in a college town for the past 10 years. Recently, Luisa rented space next to her shop and opened a tanning salon. She anticipated that the costs for the tanning service would primarily be fixed, but found that tanning salon costs increased with the number of appointments. Costs for this service over the past 8 months are as follows:
| Month | Tanning Appointments |
Total Cost | |||
| January | 1,600 | $1,754 | |||
| February | 2,000 | 2,140 | |||
| March | 3,500 | 2,790 | |||
| April | 2,500 | 2,400 | |||
| May | 1,500 | 1,790 | |||
| June | 2,300 | 2,275 | |||
| July | 2,150 | 2,200 | |||
| August | 3,000 | 2,640 | |||
Required:
1. Which month represents the high point? The low point?
| High point | |
| Low point |
2. Using the high-low method, compute the variable rate for tanning. Compute the fixed cost per month. Round the variable rate per tanning appointment to the nearest cent.
| Variable rate for tanning | $ per tanning appointment |
| Fixed cost per month | $ |
3. Using the variable rate and fixed cost, what
is the cost formula for tanning services?
4. Calculate the total predicted cost of tanning services for September for 2,500 appointments using the formula found in Requirement 3. Of that total cost, how much is the total fixed cost for September? How much is the total predicted variable cost for September? In your calculations, round variable cost per unit to the nearest cent. If required, round the final answers to the nearest dollar.
| Total predicted cost for September | $ |
| Total fixed cost for September | $ |
| Total predicted variable cost for September | $ |
5. Which of the following statements is correct when luisa uses the high-low method to estimate the costs?
In: Accounting
Eagle Sawmill Limited (Eagle) operates a timber sawmill in a large regional town. It sources its raw material (pine logs) from a number of local growers and from its own plantations. Logs are transported on large trucks that are weighed in on the company’s weighbridge and weighed out after dropping their loads in the storage area. Logs are then debarked and sawn to size in the cutting area of the mill. The various logs are then sent to other areas of the sawmill depending on what they will be used for.
You are a senior on the audit. During the planning stage of the audit, you perform analytical procedures. In the current audit period, the average number of days to pay creditors has declined significantly from the average recorded over the past three financial years. Your investigation reveals that log suppliers represent more than 90 percent of the value of accounts payable. As an internal control, details of the goods received notes are matched against the supplier’s invoice. The accuracy of the invoice is checked, after which the invoice is authorised for payment by the mill accountant. Any discrepancy between what the supplier’s invoice amounts should be and the actual amount charged by the supplier is communicated to the supplier by way of a pre-numbered ‘request for credit’ form. This form provides reasons for the differences and the amount requested to be credited to the company by the supplier.
The correct amount of the invoice is entered into the accounts payable accounting system and the supplier’s monthly statement is reconciled to the accounts payable balance per the creditors’ ledger at month end. The differences are mostly attributable to:
Unprocessed invoices due to pricing differences
Timing differences in the recorded date of a payment made
Amounts requested for credit
Settlement discounts disallowed.
Lee Hayward, the company’s financial controller, informs you that due to the increase in the price of timber, new contracts with suppliers have been negotiated over the past year. The accounts payable personnel have complained that management is too slow in informing them about the effective dates of the implementation of the contracts and the revised prices. A brief inspection of the accounts payable reconciliations for five of the biggest suppliers indicates that many invoices are being held back due to the lack of correct pricing.
Required
a) List two key assertions at risk in relation to accounts payable;
b) Provide your justification for each assertion.
c) For each assertion, outline two substantive tests of details to obtain sufficient appropriate audit evidence.
In: Accounting