Steve Rogers recently started a job as an administrative assistant in the cost accounting department of Mickey Manufacturing . New to the area of cost accounting , Steve is puzzled by the fact that one of Mickey ' s manufactured products , R2D2 , seems to have a different cost , depending on who asks for it . When the marketing department requested the cost of R2D2 in order to determine pricing for the new catalog , Steve was told to report one amount , but when a request came in the very next day from the financial reporting department , the cost of R2D2 , she was told the cost was very different . Steve runs a report using Mickey ' s cost accounting system , which produces the following cost elements for one unit of R2D2 . Direct Materials Direct Manufacturing Labor Variable Manufacturing Overhead Allocated Fixed Manufacturing Overhead Research and development costs specific to RCP10 * Marketing Costs * Sales Commissions * Allocated administrative costs of production department Allocated administrative costs of corporate headquarters Customer Service costs * Distribution costs * $ 30 . 00 $ 17 . 00 $ 9 . 00 $ 33 . 00 $ 6 . 00 $ 7 . 00 $ 12 . 00 $ 5 . 00 $ 18 . 00 $ 3 . 00 $ 9 . 00 * these costs are specific to R2D2 but would not be eliminated if R2D2 were purchased from an outside supplier . Required : 1 . Explain to Steve why the costs given to the marketing and financial reporting departments would be different . 2 . Calculate the cost of one unit of RCP10 to determine the following : a . The selling price of RCP10 b . The cost of inventory for financial reporting c . The ability of Mickey ' s production manager to control costs .

one article is 30 minutes and under incentive scheme the time allowed is increased by 20%.
During one week the workman manufactured 100 articles. Calculate his gross wages under
each of the following methods of remuneration:
a. Time rate b. Piece work with a guaranteed weekly wage c. Rowan premium bonus
d. Halsey premium bonus, 50% to workman

Case Study 2: The Turn Around at Ford Ford has been going through difficult times and recovered more than once. The company’s share of the automobile market continues to shrink, and its cost structure has contributed to financial losses. In 2006, Ford lost $12.6 billion. In 2007, Ford did better, posting losses of only $2.7 billion. At the same time, however, Ford’s market shares dwindled and in 2007, its share was 14.8%—down from 26% in the 1990s. In an effort to match its production with the demand for its products, as well as address concerns with its high labor costs, Ford has focused on trying to get smaller to achieve long-term success in the automobile industry. One of the primary ways for Ford to achieve this goal is to take further steps to reduce the size of its workforce. Ford’s workforce went from 283,000 employees in 2006 to 171,000 in 2013. Ford then announced a new round of buyouts and early-retirement packages to its workers in an effort to cut costs and replace those leaving with lower-paid workers. Some of the offers made to reduce the labor supply in 2013 included: Workers who were eligible for retirement would receive a $50,000 offer, higher than the $35,000 in the previous round of buyouts. Skilled-trade workers, such as maintenance workers, will get an additional $20,000, bringing the total potential payout for such a worker to $70,000. Following the 2013 round of buyouts, Ford extended its tactics to reduce the size of its workforce and ongoing expenses further through means such as the following: Extending a buyout option for its 78,000 employees and special incentives for its 40,800 workers who are eligible for retirement to retire sooner rather than later. Offering a lump sum payment for 90,000 retired engineers and office workers to forgo their regular monthly pension check for the rest of their lives. The automaker’s goal in offering the company-wide buyouts was to cut jobs, reduce its ongoing pension expenses, to position itself to be more competitive in the market, and to align its labor capacity with the demand for its products. In 2018, Ford announced that by 2020 around 90% of Ford’s sales in North America would be trucks, SUVs and commercial vehicles. The only two cars to be manufactured in North America would be the Mustang and the Focus Active Crossover. The company has reallocated $7 billion of its research funds from cars to trucks and SUVs.

Questions

What factors have contributed to the large-scale labor surplus at Ford?

What impact is the most recent strategic plan at Ford likely to have on the company’s labor supply?

Over the years, Ford has decided to pursue employee buyouts and attrition in an attempt to shrink its workforce to match its productivity demands. Why do you think Ford uses these two tactics? Do you think these are the best options for Ford to achieve its goals?

What are the downsides of these two approaches? Are there any other approaches you might recommend addressing its labor surplus?

A researcher surveyed 12 men who lost their fathers earlier in their lives.  His survey included the age of the subjects when their fathers died and their confidence that they would someday be happily married themselves (100 point scale – higher score = more confidence).  The results are shown below.

Mx=15 My =60

SSx=348 SSy=5198

SPxy=933

Can you estimate a confidence rating for a man who lost his father at 30 years old? Why or why not?

1. An ecologist is interested in studying the presence of different types of animal species in different locations. Using the following contingency table and the total sample size, rewrite the frequencies as relative frequencies. Round each relative frequency to two decimal places.

2. You are interested in learning about students' favorite mode of transportation at two universities. Fill in the blanks in the following contingency table, assuming that the variables are independent.

3.Your teacher claims that the final grades in class are distributed as: A, 25%; B, 25%; C, 40%; D, 5%; F, 5%. At the end of a randomly selected academic quarter, the following number of grades are recorded. Calculate the appropriate chi-square test statistic that would be used to determine if the grade distribution for the course is different than expected. Round your answer to two decimal places.

4. A dog breeder wishes to see if prospective dog owners have any preference among six different breeds of dog. A sample of 200 people (prospective dog owners) provided the data below. Find the critical chi-square value that would be used to test the claim that the distribution is uniform. Use α = 0.01 and round your answer to three decimal places.

14. Explain the possible consequences of not using the degrees of freedom when calculating the sample standard deviation?

16. A researcher tested two groups (females and males) of rats on memory performance. The following scores are for the number of correct choices they made on the task:

Females       Males
9                    8
7                    6
7                    8
8                    6
9                    7
8                    6
9                    9
9                    6

Calculate the standard deviation for each group.
Which group shows more variability in their memory scores?         

18. Using the Empirical Rule how much of the population is found in the 1st, 2^nd and 3^rd standard deviation?

Simon Inc. is making the daily brownie run across the Chicago metropolitan area. They have seven customers and have identified the driving distance (in miles) between each pairwise combination as shown in the table. One-way streets and various construction projects affect driving distances such that the distance from one to the other may not be same depending on which site is the starting point. Identify the most energy efficient route that begins at Simon Inc. headquarters (Simon) and visits each customer once before returning to headquarters. Show work

Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders’ equity during 2018, its first year of operations:

January 2 Issues 100,000 shares of common stock for $34 per share.

February 6 Issues 2,900 shares of 8% preferred stock for $12 per share.

September 10 Repurchases 10,000 shares of its own common stock for $39 per share.

December 15 Reissues 5,000 shares of treasury stock at $44 per share.

Required:

Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1. The table gives the demand and supply schedules for fireworks on the Island of Big Bang. In the past, because many deaths have resulted from accidents involving fireworks, the government has banned fireworks and is enforcing the ban. A $5 a firework penalty on buyers of fireworks and a $4 a firework penalty on sellers will reduce the number of fireworks bought to ________________ a week and the price paid by buyers will be _______________ a firework.

a) 0; an unknown amount

b) 160; $11

c) 80; $7

d)40; $13

2. Currently Belize, a country in Central America, has a small coffee industry but does not export any coffee. Suppose the government of Belize, in order to protect the new coffee industry to enable it to grow into a mature industry that can compete in world markets, places a tariff on the importation of coffee. What is the argument that has been used to support the tariff on coffee?

a) the dumping argument

b) to prevent rich countries from exploiting developing countries

c) the infant-industry argument

d) protection of Belize coffee workers

3. When the competitive market is using its resources efficiently, the

a) sum of the total amount of consumer surplus plus the total amount of producer surplus equals zero

b) total amount of consumer surplus is maximized

c) sum of total amount of consumer surplus plus the total amount of producer surplus is maximized

d) total amount of producer surplus is maximized

4. The annual Great Sofa Round-up is a collaborative event between Colorado State University and the City of Fort Collins aims to help students and neighbors get rid of unwanted furniture, while giving people in need access to inexpensive sofas. Suppose on the day of the Round-up, your friends take their couches to the main parking lot on campus where the Round-up is held. Raj will not sell his couch for less than $30, Emily will not sell her couch for less than $50, Nara will not sell her couch for less than $20, Sergio just wants to get rid of his couch and he is willing to give it away for free. At the Round-up, potential buyers think that all the couches available are basically the same and they are willing to buy a couch for $50. Who will sell their couch?

a) Raj, Nara, and Sergio

b) Emily

c) Raj, Emily, Nara, and Sergio

d) Emily, Nara, and Sergio

5. The gains from trade that are possible when two countries have different opportunity costs for wheat and coffee are realized when

a) the demand curves in both countries shift inward

b) trade occurs and resources are reallocated within the two countries

c) each country has an absolute advantage in one of the two commodities

d) the two countries continue to produce the same quantities of wheat and coffee

6. As a method of resource allocation, market price

a) works best inside firms and government departments

b) means those who are willing and able to pay get a particular good or service

c) works well when self-interest must be suppressed

d) is efficient when there is no effective way to distinguish among potential users of a scarce resource

Ramsey Company produces speakers (Model A and Model B). Both products pass through two producing departments. Model A's production is much more labor-intensive than that of Model B. Model B is also the more popular of the two speakers. The following data has been gathered for the two products: