At the point you will engage in fieldwork as a researcher, you will probably ask yourself: ‘How will I decide what is important, and what is not so important?’ Or ‘what should I take notes about?’ The literature recommends starting with a broad focus and narrow it later, initially taking notes on as many aspects of the scene as possible.
In: Economics
Alternative Inventory Methods
Park Company's perpetual inventory records indicate the following transactions in the month of June:
| Units | Cost/Unit | |
| Inventory, June 1 | 200 | $3.20 |
| Purchases: | ||
| June 3 | 200 | 3.50 |
| June 17 | 250 | 3.60 |
| June 24 | 300 | 3.65 |
| Sales: | ||
| June 6 | 300 | |
| June 21 | 200 | |
| June 27 | 150 |
Required:
| 1. | Compute the cost of goods sold for June and the inventory at the end of June using each of the following cost flow assumptions: If required, round your answers to the nearest dollar. |
FIFO
| Cost of Goods Sold | $ fill in the blank 1 |
| Ending Inventory | $ fill in the blank 2 |
LIFO (Round your intermediate calculations and final answers to the nearest cent.)
| Cost of Goods Sold | $ fill in the blank 3 |
| Ending Inventory | $ fill in the blank 4 |
Average cost (In your computations, round unit costs to 3 decimal places and other amounts to the nearest dollar.)
| Cost of Goods Sold | $ fill in the blank 5 |
| Ending Inventory | $ fill in the blank 6 |
| 2. | Why are the cost of goods sold and ending inventory amounts
different for each of the three methods? |
| 3. | produces the most realistic amount for net income because it |
| produces the most realistic amount for ending inventory because it |
| 4. | If Park uses IFRS, which of the previous alternatives would be acceptable and why? |
If Park Company uses IFRS, it may report its inventory under . It may not use under IFRS because it is not consistent with any presumed physical flow of inventory. Also, is not allowed for tax purposes in most other countries, so there is no tax incentive for a company to use . Note that companies that use IFRS and have rising inventory costs will report a higher income because they include holding gains in income.
In: Accounting
A luxury hotel believes that 90% of their customers are very satisfied with its service. A random sample of 120 guests were surveyed to determine how satisifed they are with the service and accommodations at the hotel.
a. Describe the random variable for this probability distribution (i.e., what type of variable, what is the probability distribution, what does the variable represent, what are it's possible values, etc.).
b. What is the probability that at least 110 of the people in the sample report being very satisfied with the hotel's service?
c. What is the probability that less than 100 people in the sample report being very satisfied with the service at the hotel?
d. Employees have been promised a bonus if more than 90% of the sample are very satisfed with the hotel's service. What is the probability that the employees will receive the bonus?
e. How many people in the sample can be expected to report that they are very satisfied with the service at the hotel?
f. if the sample shows only 100 of the customers reporting being very satisfied with the service at the hotel, explain using probability why the hotel might want to re-assess the accuracy of the belief that 90% of customers are very satisfied with service at the hotel.
In: Statistics and Probability
Consider the following marginal benefit (demand) curves of two individuals for a certain good: MBA(q) = 100 – q and MBB(q) = 300 – q.
Consider the Marginal Private Costs of providing Fireworks in The Park, MC(q) = 50 + q.
In: Economics
as a marketing director for an hotel, illustrate with the use of a diagram how you can apply the service marketing mix to the hotel
In: Economics
A newly formed firm must decide on a plant location. There are two alternatives under consideration: locate near the major raw materials or locate near the major customers. Locating near the raw materials will result in lower fixed and variable costs than locating near the market, but the owners believe there would be a loss in sales volume because customers tend to favor local suppliers. Revenue per unit will be $175 in either case.
| Omaha | Kansas City | ||||
| Annual fixed costs ($ millions) | $ | 1.0 | $ | 1.1 | |
| Variable cost per unit | $ | 25 | $ | 40 | |
| Expected annual demand (units) | 9,650 | 10,250 | |||
Using the above information, determine which location would
produce the greater profit. (Omit the "$" sign in your
response.)
(Click to select)Kansas CityOmaha would produce the greater gross
profit of $ .
In: Operations Management
A newly formed firm must decide on a plant location. There are two alternatives under consideration: locate near the major raw materials or locate near the major customers. Locating near the raw materials will result in lower fixed and variable costs than locating near the market, but the owners believe there would be a loss in sales volume because customers tend to favor local suppliers. Revenue per unit will be $177 in either case.
Omaha Kansas City
Annual fixed costs ($ millions) $ 1.2 $ 1.3
Variable cost per unit $ 27 $ 42
Expected annual demand (units) 9,750 10,350
Using the above information, determine which location would produce the greater profit. (Omit the "$" sign in your response.)
Which would produce the greater gross profit of $ ______________.
In: Operations Management
1.a. In a survey carried out at a famous water park, 28 children out of a random sample of 80 said that they used the water slide regularly. Find a 95 % confidence interval for the true proportion of all children at the water park who uses the water slide regularly. [4]
b. The owner of the water park found that 45 children out of a random sample of 100 said that they used the pool regularly. Find a 98% confidence interval for the true proportion of all children in the water park who uses the pool. [4]
In: Statistics and Probability
In Avocado Park, 38% of the population is made up of immigrants. Consider a random sample of 78 residents of Avocado Park.
a.How many individuals must reside in Avocado Park to consider the selection of these individuals to be independent?
b.What is the probability that more than 30 of the residents in the sample are immigrants?
c. How many immigrants should be EXPECTED to be in the sample?
d.Peacoat Fashions currently employs 78 Avocado Park residents. If there are fewer than 20 employees that are immigrants, does that suggest that immigrants are less likely to be hired at Peacoat Fashions?
In: Statistics and Probability
On January 3rd, 2009 Holiday Inn Hotels entered into a contract with Great Designs Inc., an interior decorating firm, to have their hotel rooms re-decorated with new carpeting, bedspreads, curtains and wall art. Holiday Inn Hotels paid Great Designs Inc., $100,000 upfront and the work was to be completed by June 1st, 2009. On June 1st, 2009 work in 30% of the rooms was still not complete. The Hotel had a large conference group checking in on June 30th, 2009 that would result in all the rooms being occupied. The Hotel, therefore, terminated its contract with Great Designs Inc., and hired a different designer to finish the work. The new designer completed the work on June 30th, 2009 at an additional cost of $15,000. Answer the following questions:
In: Finance