Growth Rate: 3.2%
Unemployment Rate: 3.8%
12 Month Core PCE Inflation: 2%
Funds Rate: 2.5%
Explain the relationship between these 4 variables given the initial conditions (the given rates). Are these rates collectively consistent with what we would expect from basic economic models such as Phillips curve, IS-LM, etc?
In: Economics
Brunell Products has projected the following sales for the
coming year:
| Q1 | Q2 | Q3 | Q4 | |
| Sales | $480 | $570 | $720 | $660 |
Sales in the year following this one are projected to be 10 percent
greater in each quarter.
Calculate payments to suppliers assuming that the company places
orders during each quarter equal to 25 percent of projected sales
for the next quarter. Assume that the company pays
immediately.
a. What is the payables period in this case?
(Do not round intermediate calculations and round your
answer to the nearest whole number, e.g., 32.)
Payables period
What are the payments to suppliers each quarter? (Do not
round intermediate calculations and round your answers to 2 decimal
places, e.g., 32.16.)
| Q1 | Q2 | Q3 | Q4 | |
| Payment of accounts | $ | $ | $ | $ |
b. Calculate payments to suppliers assuming that
the company places orders during each quarter equal to 25 percent
of projected sales for the next quarter. Assume a 90-day payables
period. (Do not round intermediate calculations. Round your
answers to 2 decimal places e.g., 32.16.)
| Q1 | Q2 | Q3 | Q4 | |
| Payment of accounts | $ | $ | $ | $ |
c. Calculate payments to suppliers assuming that
the company places orders during each quarter equal to 25 percent
of projected sales for the next quarter. Assume a 60-day payables
period. (Do not round intermediate calculations. Round your
answers to 2 decimal places e.g., 32.16.)
| Q1 | Q2 | Q3 | Q4 | |
| Payment of accounts | $ | $ | $ | $ |
In: Finance
answer all parts please
Brunell Products has projected the following sales for the
coming year:
| Q1 | Q2 | Q3 | Q4 | |
| Sales | $360 | $450 | $600 | $540 |
Sales in the year following this one are projected to be 10 percent
greater in each quarter.
Calculate payments to suppliers assuming that the company places
orders during each quarter equal to 25 percent of projected sales
for the next quarter. Assume that the company pays
immediately.
a. What is the payables period in this case?
(Do not round intermediate calculations and round your
answer to the nearest whole number, e.g., 32.)
Payables period _____?
What are the payments to suppliers each quarter? (Do not
round intermediate calculations and round your answers to 2 decimal
places, e.g., 32.16.)
| Q1 | Q2 | Q3 | Q4 | |
| Payment of accounts | $ | $ | $ | $ |
| ? ? ? ? | ||||
??
b. Calculate payments to suppliers assuming that
the company places orders during each quarter equal to 25 percent
of projected sales for the next quarter. Assume a 90-day payables
period. (Do not round intermediate calculations. Round your
answers to 2 decimal places e.g., 32.16.)
| Q1 | Q2 | Q3 | Q4 | |
| Payment of accounts | $ | $ | $ | $ |
c. Calculate payments to suppliers assuming that
the company places orders during each quarter equal to 25 percent
of projected sales for the next quarter. Assume a 60-day payables
period. (Do not round intermediate calculations. Round your
answers to 2 decimal places e.g., 32.16.)
| Q1 | Q2 | Q3 | Q4 | |
| Payment of accounts | $ | $ | $ | $ |
In: Finance
Mercury Bag Company produces cases of grocery bags. The managers at Mercury are trying to develop budgets for the upcoming quarter. The following data have been gathered. Projected sales in units 1,960 cases Selling price per case $ 240 Inventory at the beginning of the quarter 150 cases Target inventory at the end of the quarter 100 cases Direct labor hours needed to produce one case 2 hours Direct labor wages $ 10 per hour Direct materials cost per case $ 8 Variable manufacturing overhead cost per case $ 6 Fixed overhead costs for the upcoming quarter $ 220,000
a. Using the above information, develop Mercury's sales forecast in dollars and production schedule in units.
b. What is Mercury's budgeted variable manufacturing cost per case?
c. Prepare Mercury's manufacturing cost budget.
d. What is the projected ending value of the Inventory account?
Mercury Bag Company produces cases of grocery bags. The managers at Mercury are trying to develop budgets for the upcoming quarter. The following data have been gathered.
| Projected sales in units | 1,960 | cases | |
| Selling price per case | $ | 240 | |
| Inventory at the beginning of the quarter | 150 | cases | |
| Target inventory at the end of the quarter | 100 | cases | |
| Direct labor hours needed to produce one case | 2 | hours | |
| Direct labor wages | $ | 10 | per hour |
| Direct materials cost per case | $ | 8 | |
| Variable manufacturing overhead cost per case | $ | 6 | |
| Fixed overhead costs for the upcoming quarter | $ | 220,000 | |
In: Accounting
Test the indicated claim about the means of two populations. Assume that the two samples are independent simple random samples selected from normally distributed populations. 1) A researcher was interested in comparing the GPAs of students at two different colleges. Independent random samples of 8 students from college A and 13 students from college B yielded the following GPAs: College A College B 3.7 3.8 2.8 3.2 3.2 4.0 3.0 3.0 3.6 2.5 3.9 2.6 2.7 3.8 4.0 3.6 2.5 3.6 2.8 3.9 3.4 Use a 0.10 significance level to test the claim that the mean GPA of students at college A is different from the mean GPA of students at college B. (Note: x1 = 3.1125, x2 = 3.4385, s1 = 0.4357, s2 = 0.5485.) Make sure to include all steps of a hypothesis test in your answer.
STEP 1:
STEP 2:
STEP 3:
STEP 4:
STEP 5:
STEP 6:
In: Statistics and Probability
Is there a positive relationship between grit and GPA in high school seniors? A researcher examined this issue by having students beginning their senior year of high school complete a grit inventory using a Likert-based scale (range 1 – 7), where higher numbers indicate more “grit”. GPA was self-reported (scale 0 – 4.0). Enter the data shown here into SPSS to assess whether there is a positive relationship between grit and GPA.
|
Grit |
GPA |
|
6.5 |
4.0 |
|
4.0 |
3.1 |
|
3.7 |
2.7 |
|
5.8 |
3.5 |
|
4.7 |
3.1 |
|
5.5 |
3.3 |
|
3.9 |
2.7 |
|
1.1 |
2.8 |
|
3.5 |
3.1 |
|
2.7 |
2.6 |
|
5.1 |
3.8 |
|
3.2 |
2.2 |
|
5.6 |
2.8 |
|
6.1 |
2.5 |
|
GPA |
|
4.0 |
|
3.1 |
|
2.7 |
|
3.5 |
|
3.1 |
|
3.3 |
|
2.7 |
|
2.8 |
|
3.1 |
|
2.6 |
|
3.8 |
|
2.2 |
|
2.8 |
|
2.5 |
|
Grit |
|
6.5 |
|
4.0 |
|
3.7 |
|
5.8 |
|
4.7 |
|
5.5 |
|
3.9 |
|
1.1 |
|
3.5 |
|
2.7 |
|
5.1 |
|
3.2 |
|
5.6 |
|
6.1 |
In: Statistics and Probability
roduction Budget and Direct Materials Purchases Budgets
Peanut Land Inc. produces all-natural organic peanut butter. The peanut butter is sold in 12-ounce jars. The sales budget for the first four months of the year is as follows:
| Unit Sales | Dollar Sales ($) | |
| January | 60,000 | 114,000 |
| February | 65,000 | 123,500 |
| March | 70,000 | 133,000 |
| April | 46,000 | 87,400 |
Company policy requires that ending inventories for each month
be 15% of next month's sales. At the beginning of January, the
inventory of peanut butter is 38,000 jars.
Each jar of peanut butter needs two raw materials: 24 ounces of
peanuts and one jar. Company policy requires that ending
inventories of raw materials for each month be 20% of the next
month's production needs. That policy was met on January 1.
Required:
1. Prepare a production budget for the first quarter of the year. Show the number of jars that should be produced each month as well as for the quarter in total.
| Peanut Land Inc. | ||||
| Production Budget | ||||
| For the First Quarter of the Year | ||||
| January | February | March | Total | |
| Sales | ||||
| Desired ending inventory | ||||
| Total needs | ||||
| Less: Beginning inventory | ||||
| Units produced | ||||
Feedback
The production budget is in units. Fill in the units for sales from the amounts provided. The desired ending inventory is added to the number of units to be produced and is calculated based on future sales. Beginning inventory is subtracted to determine units to be produced. Beginning inventory is given for the first month and is carried forward from the previous month for later months.
Review the "How to Prepare a Production Budget" example in the text.
2. Prepare a direct materials purchases budget for jars for the months of January and February.
| Peanut Land Inc. | |||
| Direct Materials Purchases Budget for Jars | |||
| For January and February | |||
| January | February | Total | |
| Production | |||
| Jar | |||
| Jars for production | |||
| Desired ending inventory | |||
| Total needs | |||
| Less: Beginning inventory | |||
| Jars purchased | |||
Feedback
Fill in the units produced from Requirement 1.
Production in units x Materials per unit = Direct Materials Needed for Production
The desired ending inventory for materials is added to the materials to be purchased and is calculated based on future production. Note that the percentage of desired materials inventory does not match the percentage of desired completed inventory. Beginning inventory is calculated from current month production for the first month and is carried forward from the previous month for later months.
Direct Materials Needed for Production + Direct Materials in Desired Ending Inventory – Direct Materials in Beginning Inventory = Purchases
Review the "How to Prepare a Direct Materials Purchases Budget" example in the text.
Prepare a direct materials purchases budget for peanuts for the months of January and February.
| Peanut Land Inc. | |||
| Direct Materials Purchases Budget for Peanuts | |||
| For January and February | |||
| January | February | Total | |
| Production | |||
| Ounces | |||
| Ounces for production | |||
| Desired ending inventory | |||
| Total needs | |||
| Less: Beginning inventory | |||
| Ounces purchased | |||
In: Accounting
| What are the two types of cash flows does an investor get when they invest in a bond? | |||||||||
| Company issues $100,000,000 of bonds which are due January 1, 2025. The advantage | |||||||||
| to bondholders of Company setting up a sinking fund, is it reduces their risk of repayment. | |||||||||
| What are two advantages to the company? | |||||||||
| Briefly explain | |||||||||
| Treasury bonds | |||||||||
|
Foreign bonds |
|||||||||
| Zero coupon bonds | |||||||||
|
Callable bonds |
|||||||||
| Corporate bonds | |||||||||
|
Municipal bonds Cash Flow properties of a bond What investor pay and when What does investor gets and when |
What | ||||||||
In: Finance
Please answer the following question
Travel In Style Limited issued $1,000,000 of 9% bonds on September 1, 2017 for $1,058,671. The term of the bonds is September 1, 2017 to September 1, 2025, with interest payable quarterly each December 1, March 1, June 1, and September 1. The company uses the effective interest method with an effective rate of 8%.
1) Prepare the company’s journal entry for the September 1 issuance.
2) Prepare the company’s journal entry for the December 1 interest payment.
In: Accounting
Martinez Company sells 8% bonds having a maturity value of $2,510,000 for $2,319,700. The bonds are dated January 1, 2020, and mature January 1, 2025. Interest is payable annually on January 1.
Determine the effective-interest rate. (Round answer to 0 decimal places, e.g. 18%.) Set up a schedule of interest expense and discount amortization under the effective-interest method. (Round intermediate calculations to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 38,548.)
In: Accounting