Red Canyon T-shirt Company operates a chain of T-shirt shops in the southwestern United States. The sales manager has provided a sales forecast for the coming year, along with the following information:

• Each T-shirt is expected to sell for $18.
• The purchasing manager buys the T-shirts for $7 each.
• The company needs to have enough T-shirts on hand at the end of each quarter to fill 28 percent of the next quarter’s sales demand.
• Selling and administrative expenses are budgeted at $86,000 per quarter plus 15 percent of total sales revenue.

Required:
1. Determine budgeted sales revenue for quarters 1, 2, and 3.
2. Determine budgeted cost of merchandise purchased for quarters 1, 2, and 3.
3. Determine budgeted cost of good sold for quarters 1, 2, and 3.
4. Determine selling and administrative expenses for quarters 1, 2, and 3.
5. Complete the budgeted income statement for quarters 1, 2, and 3.

Agent’s Authority. Terry Holden’s stepmother, Rosie, was diagnosed with amyotrophic lateral sclerosis (ALS), and Terry’s wife, Susan, became Rosie’s primary caregiver. Rosie executed a durable power of attorney appointing Susan as her agent. Susan opened a joint bank account with Rosie at Bank of America, depositing $9,643.62 of Rosie’s funds. Susan used some of the money to pay for “household expenses to keep us going while we were taking care of her.” Rosie died three months later. Terry’s father, Charles, as executor of Rosie’s estate, filed a petition in a Texas state court against Susan for an accounting. What general duty did Susan owe Rosie as her agent? What does an agent’s duty of accounting require? Did Susan breach either of these duties? Explain.

Please solve as soon as possible

The cement and concrete industry is a key link in the circular economy. Alternative fuels/raw materials in cement kilns, utilising recycled aggregates and cementitious industrial by-products in concrete and producing durable concrete structures assist in the circular economy. Example of fly ash production is shown in Figure 1. Discuss the use of any THREE new binders, waste materials and recycled materials (as ingredients) in concrete production and their suitable applications. Produce a ‘white paper’ (not more than 5 pages) and it should include the following:

(i) Identified 3 ingredients and a brief description of their production.

(ii) How these materials are used to produce certain grades of concrete.

(iii) Energy savings and carbon dioxide emissions of all ingredients.

(iv) Link with circular economy.

Answer the following questions based on aging/elderly

1- Should people have the choice to end their lives?

3 What happened during the important Terry Schiavo Case? Why was this case so important?

4 Explain the following:

Advanced directives

Living will

Health care proxy

Durable power of attorney

5 Talk about the impact of depression on suicide for the elderly

6 What is the generational equity debate? What does this debate say about inheritance?

7 Can you describe some of the effects of race, class and gender on aging?

8/9 Should age or need be the basis for entitlement?

                Give the arguments that could be made and also your own view

10 What are the effects of politics, networking, interest groups on our current views of aging?

Two random samples were drawn from members of the U.S. Congress. One sample was taken from members who are Democrats and the other from members who are Republicans. For each sample, the number of dollars spent on federal projects in each congressperson's home district was recorded. Dollars Spent on Federal Projects in Home Districts Party Less than 5 Billion 5 to 10 Billion More than 10 billion Row Total Democratic 6 16 23 45 Republican 11 17 19 47 Column Total 17 33 42 92 (i) Make a cluster bar graph showing the percentages of Congress members from each party who spent each designated amount in their respective home districts. (In the graphs, blue represents Democrats and red represents Republicans.) Maple Generated Plot Maple Generated Plot Maple Generated Plot Maple Generated Plot (ii) Use a 1% level of significance to test whether congressional members of each political party spent designated amounts in the same proportions. (a) What is the level of significance? State the null and alternate hypotheses. H0: Different proportion of Democrats and Republicans within each spending level. H1: Different proportion of Democrats and Republicans within each spending level. H0: Same proportion of Democrats and Republicans within each spending level. H1: Same proportion of Democrats and Republicans within each spending level. H0: Different proportion of Democrats and Republicans within each spending level. H1: Same proportion of Democrats and Republicans within each spending level. H0: Same proportion of Democrats and Republicans within each spending level. H1: Different proportion of Democrats and Republicans within each spending level. (b) Find the value of the chi-square statistic for the sample. (Round the expected frequencies to at least three decimal places. Round the test statistic to three decimal places.) Are all the expected frequencies greater than 5? Yes No What sampling distribution will you use? Student's t binomial chi-square uniform normal What are the degrees of freedom? (c) Find or estimate the P-value of the sample test statistic. (Round your answer to three decimal places.) p-value > 0.100 0.050 < p-value < 0.100 0.025 < p-value < 0.050 0.010 < p-value < 0.025 0.005 < p-value < 0.010 p-value < 0.005 (d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis of independence? Since the P-value > α, we fail to reject the null hypothesis. Since the P-value > α, we reject the null hypothesis. Since the P-value ≤ α, we reject the null hypothesis. Since the P-value ≤ α, we fail to reject the null hypothesis. (e) Interpret your conclusion in the context of the application. At the 1% level of significance, there is sufficient evidence to conclude that the proportion of spending for Democrats and Republicans within each level of spending is not the same. At the 1% level of significance, there is insufficient evidence to conclude that the proportion of spending for Democrats and Republicans within each level of spending is not the same.

Two random samples were drawn from members of the U.S. Congress. One sample was taken from members who are Democrats and the other from members who are Republicans. For each sample, the number of dollars spent on federal projects in each congressperson's home district was recorded. Dollars Spent on Federal Projects in Home Districts Party Less than 5 Billion 5 to 10 Billion More than 10 billion Row Total Democratic 9 11 25 45 Republican 11 19 17 47 Column Total 20 30 42 92 (i) Make a cluster bar graph showing the percentages of Congress members from each party who spent each designated amount in their respective home districts. (In the graphs, blue represents Democrats and red represents Republicans.) Maple Generated Plot Maple Generated Plot Maple Generated Plot Maple Generated Plot (ii) Use a 1% level of significance to test whether congressional members of each political party spent designated amounts in the same proportions. (a) What is the level of significance? State the null and alternate hypotheses. H0: Same proportion of Democrats and Republicans within each spending level. H1: Same proportion of Democrats and Republicans within each spending level. H0: Same proportion of Democrats and Republicans within each spending level. H1: Different proportion of Democrats and Republicans within each spending level. H0: Different proportion of Democrats and Republicans within each spending level. H1: Same proportion of Democrats and Republicans within each spending level. H0: Different proportion of Democrats and Republicans within each spending level. H1: Different proportion of Democrats and Republicans within each spending level. (b) Find the value of the chi-square statistic for the sample. (Round the expected frequencies to at least three decimal places. Round the test statistic to three decimal places.) Are all the expected frequencies greater than 5? Yes No What sampling distribution will you use? binomial uniform normal chi-square Student's t What are the degrees of freedom? (c) Find or estimate the P-value of the sample test statistic. (Round your answer to three decimal places.) p-value > 0.100 0.050 < p-value < 0.100 0.025 < p-value < 0.050 0.010 < p-value < 0.025 0.005 < p-value < 0.010 p-value < 0.005 (d) Based on your answers in parts (a) to (c), will you reject or fail to reject the null hypothesis of independence? Since the P-value > α, we fail to reject the null hypothesis. Since the P-value > α, we reject the null hypothesis. Since the P-value ≤ α, we reject the null hypothesis. Since the P-value ≤ α, we fail to reject the null hypothesis. (e) Interpret your conclusion in the context of the application. At the 1% level of significance, there is sufficient evidence to conclude that the proportion of spending for Democrats and Republicans within each level of spending is not the same. At the 1% level of significance, there is insufficient evidence to conclude that the proportion of spending for Democrats and Republicans within each level of spending is not the same.

On March 8, 2018, President Trump used his authority granted under the Trade Expansion Act of 1962 to impose a 25% tariff on steel imports and a 10% tariff on aluminum imports, effective March 28, 2018. Initially, Canada, Mexico, and members of the European Union were exempt from these tariffs, but this exemption was taken away on June 1. Then, on August 1, 2019, the president announced a 10% tariff on $300 billion of Chinese goods effective September 1, 2019, with the possibility of that tariff increasing to 25%. This is on top of a 25% tariff already in place on $200 billion of Chinese goods. Tariffs, or taxes on imported goods, are the most widely used type of trade barrier and are often considered economically inefficient.

Do some research on these tariffs and then address the following:

What official reason was given for the implementation of these tariffs?

Who will receive the most benefit from these tariffs and who will be harmed by them?

Relate these tariffs to the economic principle of comparative advantage and discuss what will happen to production and prices of those products that use steel and aluminum.

Explain why some American companies might be opposed to these tariffs.

What do you think will be the economic consequences of these tariffs, both domestically and globally?

Do you believe the implementation of these tariffs was a good idea? Why or why not?

Introduction to managerial Accounting 5E - pg 414 - PROBLEM 7–9 Preparing Merchandise Purchases and Cash Budgets

Kat Ltd.’s September balance sheet contains the following information:

October 31 cash balance: $40,950

Cash $37,500 (dr)

Accounts Receivable $126,000 (dr)

Allowance for Doubtful Accounts $2,800 (cr)

Merchandise Inventory $26,250 (dr)

Management has designated $37,500 as the firm’s minimum monthly cash balance.

Other information about the firm and its operations is as follows:

a. Sales revenues of $350,000, $420,000, and $312,500 are expected for October, November, and December, respectively. All goods are sold on account.

b. The collection pattern for accounts receivable is 60% in the month of sale, 39% in the month following the month of sale, and 1% uncollectible, which is set up as an allowance.

c. Cost of goods sold is 60% of sales revenues.

d. Management’s target ending balance of merchandise inventory is 10% of the current month’s budgeted cost of goods sold.

e. All accounts payable for inventory are paid in the month of purchase.

f. Other monthly expenses are $49,250, which includes $3,500 of depreciation and $2,000 of bad debt expense.

g. In the event of a shortfall, the company borrows money. In contrast, in the event of excess cash, the company invests in short-term investments. Borrowings and investments are assumed to be made at the end of a month in increments of $6,250.

h. Interest on borrowings is 10% per year, payable every quarter, on the accumulated amount of the loan; similarly, interest earned on investments is 8% per year on the accumulated investments and is received every quarter. Investments can be matured and the principal amount redeemed in June or December of a year.

Required:

1. Prepare a merchandise purchases budget for October and November.

2. Prepare the cash budgets for October and November, including the effects of financing (borrowing or investing). Interest is earned or paid quarterly.

My question is from 2. - On the Cash Budget for October and November, how much is the expenses for each month? - This had been answered previously as - October - $43,400 and November - $43,750, however I didn't understand why there was a $350 difference. Are these figures correct, and if so how did we get these figures?