Part 1) Bill Alther is a zoologist who studies Anna's hummingbird (Calypte anna).† Suppose that in a remote part of the Grand Canyon, a random sample of six of these birds was caught, weighed, and released. The weights (in grams) were as follows. 3.7 2.9 3.8 4.2 4.8 3.1 The sample mean is x = 3.75 grams. Let x be a random variable representing weights of hummingbirds in this part of the Grand Canyon. We assume that x has a normal distribution and ? = 0.86 gram. Suppose it is known that for the population of all Anna's hummingbirds, the mean weight is ? = 4.60 grams. Do the data indicate that the mean weight of these birds in this part of the Grand Canyon is less than 4.60 grams? Use ? = 0.10.

(a) What is the level of significance?

(b) Compute the z value of the sample test statistic. (Round your answer to two decimal places.)

(c) Find (or estimate) the P-value. (Round your answer to four decimal places.)

Part 2) The price to earnings ratio (P/E) is an important tool in financial work. A random sample of 14 large U.S. banks (J. P. Morgan, Bank of America, and others) gave the following P/E ratios.†

The sample mean is x?17.1.

Generally speaking, a low P/E ratio indicates a "value" or bargain stock. Suppose a recent copy of a magazine indicated that the P/E ratioof a certain stock index is ?= 18.Let xbe a random variable representing the P/E ratioof all large U.S. bankstocks. We assume that xhas a normal distribution and ?= 3.6.Do these data indicate that the P/E ratioof all U.S. bankstocks is less than 18? Use ?= 0.01.

(a) What is the level of significance?

(b) Compute the zvalue of the sample test statistic. (Round your answer to two decimal places.)

(c) Find (or estimate) the P-value. (Round your answer to four decimal places.)

Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance:

Pitman Company

UNADJUSTED TRIAL BALANCE

October 31, 2019

The data needed to determine year-end adjustments are as follows:

Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance:

Pitman Company

UNADJUSTED TRIAL BALANCE

October 31, 2019

The data needed to determine year-end adjustments are as follows:

Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance: Pitman Company UNADJUSTED TRIAL BALANCE October 31, 2019 ACCOUNT TITLE DEBIT CREDIT 1 Cash 7,710.00 2 Accounts Receivable 37,935.00 3 Prepaid Insurance 7,070.00 4 Supplies 2,125.00 5 Land 108,400.00 6 Building 145,300.00 7 Accumulated Depreciation-Building 85,610.00 8 Equipment 134,800.00 9 Accumulated Depreciation-Equipment 96,100.00 10 Accounts Payable 12,625.00 11 Unearned Rent 6,340.00 12 Jan Pitman, Capital 219,690.00 13 Jan Pitman, Drawing 15,120.00 14 Fees Earned 323,700.00 15 Salaries and Wages Expense 196,770.00 16 Utilities Expense 42,265.00 17 Advertising Expense 23,135.00 18 Repairs Expense 17,195.00 19 Miscellaneous Expense 6,240.00 20 Totals 744,065.00 744,065.00 The data needed to determine year-end adjustments are as follows: a. Unexpired insurance at October 31, $6,105. b. Supplies on hand at October 31, $485. c. Depreciation of building for the year, $7,140. d. Depreciation of equipment for the year, $4,445. e. Unearned rent at October 31, $1,890. f. Accrued salaries and wages at October 31, $3,330. g. Fees earned but unbilled on October 31, $11,475. Required: 1. Journalize the adjusting entries using the following additional accounts: Salaries and Wages Payable; Rent Revenue; Insurance Expense; Depreciation Expense—Building; Depreciation Expense—Equipment; and Supplies Expense. Refer to the Chart of Accounts for exact wording of account titles. 2. Determine the balances of the accounts affected by the adjusting entries, and prepare an adjusted trial balance.

Jones Company has the following standards for its single product:

                     standard quantity            standard price
direct materials     13 pounds per unit           $5.10 per pound
direct labor          6 hours per unit            $16.00 per hour
variable overhead     6 hours per unit            $11.00 per hour

Jones Company reported the following information for the month of October:

1.  4,280 units were produced.
2.  63,000 pounds of direct materials were purchased at cost of $5.40 per
    pound.
3.  27,200 direct labor hours were worked.
4.  The actual variable overhead cost amounted to $303,800.
5.  The actual direct labor cost amounted to $414,800.
6.  There were no inventories of any type at October 1, however, the direct
    materials inventory at October 31 totaled 6,000 pounds.

A)Calculate the direct labor rate variance for October. If the variance is
favorable, place a minus sign in front of your answer (i.e., -5000). If
the variance is unfavorable, enter your answer as a number (i.e., 5000).

B) Calculate the direct material price variance for October. If the variance is favorable, place a minus sign in front of your answer (i.e., -5000). If the variance is unfavorable, simply enter your answer as a number (i.e., 5000).

C) Calculate the direct material quantity variance for October. If the variance is favorable, place a minus sign in front of your answer (i.e., -5000). If the variance is unfavorable, enter your answer as a number (i.e., 5000).

D) Calculate the variable overhead efficiency variance for October. If the variance is favorable, place a minus sign in front of your answer (i.e., -5000). If the variance is unfavorable, simply enter your answer as a number (i.e., 5000).

Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance:

Pitman Company

UNADJUSTED TRIAL BALANCE

October 31, 2019

The data needed to determine year-end adjustments are as follows:

Pitman Company is a small editorial services company owned and operated by Jan Pitman. On October 31, 2019 the end of the current year, Pitman Company’s accounting clerk prepared the following unadjusted trial balance:

Pitman Company

UNADJUSTED TRIAL BALANCE

October 31, 2019

The data needed to determine year-end adjustments are as follows:

1. A researcher claims that the mean rate of Infant mortality in the City of Chicago is below 9.3 %. Based on the data represented for the years 2005 – 2011, perform a hypothesis test to test his claim using a significance level of α= 0.10.

2.Would your conclusion change for question 1 if you used a significance level of α= 0.05? Explain.

Data:

Please show work. Thank you :)

Profit Center Responsibility Reporting for a Service Company

Thomas Railroad Company organizes its three divisions, the North (N), South (S), and West (W) regions, as profit centers. The chief executive officer (CEO) evaluates divisional performance, using income from operations as a percent of revenues. The following quarterly income and expense accounts were provided from the trial balance as of December 31:

The company operates three service departments: the Dispatching Department, the Equipment Management Department, and the Treasurer’s Department. The Dispatching Department manages the scheduling and releasing of completed trains. The Equipment Management Department manages the railroad cars inventories. It makes sure the right freight cars are at the right place at the right time. The Treasurer’s Department conducts a variety of services for the company as a whole. The following additional information has been gathered:

Required:

1. Prepare quarterly income statements showing income from operations for the three regions. Use three column headings: North, South, and West. Do not round your interim calculations.

Feedback

1. Determine the dispatching rate per train by dividing service cost by output. For each division's dispatching cost, multiply the dispatching rate by the number of scheduled trains. Repeat this process for the other service department charges. Subtract the service department charges for a division from that division's income from operations before such charges.

Learning Objective 3.

2. What is the profit margin of each division? Round to one decimal place.