Exercise 5A-2 Least-Squares Regression [LO5-11]
Bargain Rental Car offers rental cars in an off-airport location near a major tourist destination in California. Management would like to better understand the variable and fixed portions of it car washing costs. The company operates its own car wash facility in which each rental car that is returned is thoroughly cleaned before being released for rental to another customer. Management believes that the variable portion of its car washing costs relates to the number of rental returns. Accordingly, the following data have been compiled:
| Month | Rental Returns | Car Wash Costs | |||
| January | 2,400 | $ | 10,800 | ||
| February | 2,500 | $ | 13,000 | ||
| March | 2,700 | $ | 11,600 | ||
| April | 3,000 | $ | 14,000 | ||
| May | 3,600 | $ | 16,000 | ||
| June | 5,000 | $ | 22,900 | ||
| July | 5,500 | $ | 22,000 | ||
| August | 5,400 | $ | 21,700 | ||
| September | 4,700 | $ | 22,600 | ||
| October | 3,900 | $ | 20,500 | ||
| November | 2,200 | $ | 10,500 | ||
| December | 2,700 | $ | 13,500 | ||
Exercise 5A-2 Part 2
2. Using least-squares regression, estimate the variable cost per rental return and the monthly fixed cost incurred to wash cars. (Round Fixed cost to the nearest whole dollar amount and the Variable cost per unit to 2 decimal places.)
In: Accounting
1) Identical twins Anna and Hannah visit you at the optical clinic. Anna, whose eyes can easily focus on distant objects (her far point), is also able to focus on objects within 20 cm of her eyes (her near point). Assuming the diameter and, hence, the distance between the cornea and retina, of Anna's eye is 20 mm, what is the range (in diopters) of Anna's vision? The limits of this range correspond to the total refractive power of her eyes at their far point and and the refractive power at their near point.
a) from 50 to 50.5 diopters
b) from 50 to 55 diopters
c) from 50 to 60 diopters
d) from 0 to 5 diopters
2) Hannah's eyes have the same range as her sister's, with the same focal power for her cornea (50 diopters) and for her variable lens (5 diopters), but Hannah suffers from myopia. She cannot focus on any object that lies more than 0.7 meters from her eyes since they are slightly longer -- the cornea to retina distance is larger -- than her sister's eyes. Considering this new far point, what is the diameter of Hannah's eyes (in millimeters, to the nearest tenth of a millimeter) assuming Anna's eye diameter was ideally, again, 20.0 mm? Hint: the focal power of the cornea remains the same for Hannah as for Anna for focusing distant objects, but the farthest Hannah can see (object distance) changes from infinity to 0.7 meters.
3) Assuming, instead, that the diameters of Hannah's myopic eyes were 20.4 mm, but, again, that Hannah's eyes share the same focal powers for her cornea and lens as Anna's, what would be Hannah's near point (to the nearest tenth of a cm, in cm) if Anna's, again, is 20 cm?
4) Now assuming Anna's far point was found to be 0.8 m (i.e., her eyes can't focus on any object more than 0.8 m away), what power corrective lenses would you prescribe to Hannah so that, when wearing these lenses, her visual range was the same as Anna's (from a near point of 20 cm to a far point of infinity? Give your answer in units of diopters, to the nearest tenth of a diopter, with the correct sign.
5) One treatment of cataracts is to surgically remove the variable lens of the eye. If we assume that the cornea's refractive power focuses objects at infinite distances onto the retina of a person who has had this surgery, what power correcting lenses would they need to be able to read text at a 21-cm near-point distance? Again, give your answer in units of diopters, to the nearest tenth of a diopter and with the correct sign.
In: Physics
Adams Corporation uses a periodic inventory system and the
retail inventory method to estimate ending inventory and cost of
goods sold. The following data are available for the month of
September 2021:
| Cost | Retail | |||
| Beginning inventory | $ | 20,200 | $ | 39,800 |
| Net purchases | 10,100 | ? | ||
| Net markups | 4,800 | |||
| Net markdowns | 1,800 | |||
| Net sales | ? | |||
The company used the average cost flow method and estimated
inventory at the end of September to be $15,200.50. If the company
had used the LIFO cost flow method, the cost-to-retail percentage
would have been 50%.
Required:
Compute net purchases at retail and net sales for the month of
September using the information provided. (Do not round
your intermediate calculations.)
|
In: Accounting
Adams Corporation uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the month of September 2021:
Cost Retail
Beginning inventory 23000 37000
Net purchases 11500 ?
Net markups 4200
Net markdowns 1200
Net sales ?
The company used the average cost flow method and estimated inventory at the end of September to be $19,607.50. If the company had used the LIFO cost flow method, the cost-to-retail percentage would have been 50%. Required: Compute net purchases at retail and net sales for the month of September using the information provided. (Do not round your intermediate calculations.)
Net Purchases at retail 20,000
Net Sales
In: Accounting
It is difficult to make a budget that spans several years, because prices are not stable. If your company needs 200 pencils per year, you cannot simply use this year’s price as the cost of pencils two years from now. Because of inflation, the cost is likely to be higher than it is today. Write a program to gauge the expected cost of an item in a specified number of years. The program asks for the cost of the item, the number of years from now that the item will be purchased, and the rate of inflation. The program then outputs the estimated cost of the item after the specified period. Have the user enter the inflation rate as a percentage, such as 5.6 (percent). Your program should then convert the percent to a fraction, such as 0.056 and should use a loop to estimate the price adjusted for inflation.
In: Computer Science
For this week’s journal entry, please revise the following sentences so that they use parallel construction.
1. Roma mystics are famous for their traditions of fortune-telling by reading Tarot cards, interpreting dreams, and they also look into crystal balls.
2. According to some traditions, every dream is supposed to contain its own symbol of the past or can predict the future.
3. When you have your tea leaves read, a true Romani will put a lot of effort into the ritual itself, including making the tea, selecting the appropriate China, and plays soothing music.
4. Palm readers examine lines on the palm, fingers and their lengths, and the prominence of the mounts.
5. Some critics of fortune-telling suggest that trained psychologists could also notice personal traits such as nervousness, that someone was lonely, or cheerful, which would also let them make reasonable predictions about a client's future.
Next, revise the following sentences so that they show variety in sentence length and structure. You may need to combine sentences or expand the sentences with details to add interest and variety.
1. Washington is the only state named after a president. Many cities and counties are named after presidents.
2. California is bordered by the Pacific Ocean. There are many islands, waterways, and rivers not to mention the evergreen forests near the coast.
3. The car battery would not start. The battery was dead. I called a tow truck.
4. She was not like her sister in fact they were total opposites.
5. Ricky Martin will remain my favorite singer although he has fallen out of fashion and I think he is terrific. He has done some free concerts for good causes too.
In: Finance
Brett started a new construction business in April 2017. In connection with the new business, he purchased a new backhoe for $60,000 in June 2017 and immediately placed it in service. The new business is struggling and expecting to show a loss for 2017. Brett is considering expensing the $60,000 cost of the backhoe under §179 on the 2017 tax return. Brett has been awarded a large project for 2018, and will show a substantial profit (over $100,000) for the year ending 12/31/2018. Your response must fully address the following: Evaluate the appropriateness of Brett’s plan. Explain your position. How could changes in tax law affect the appropriateness of Brett's plan?
In: Accounting
On January 1, 2018, DD Mining finished construction of a coal mine in Kentucky. DD is legally required to remove any metal used in building the mine, seal the entrance, and to the extent possible, restore the surrounding area to its natural condition at the end of the mine's 20 year useful life. DD estimates this process will cost $1,500,000. Assuming the current discount rate is 4%, one of entries DD needs to make in 2018 for this Asset Retirement Obligation is
Select one:
Debit Interest Expense 60,000
Credit Accumulated Depreciation 34,229
Debit Depreciation Expense 75,000
Debit Asset Retirement Obligation 684,585
Credit Asset Retirement Obligation $1,500,000
In: Accounting
The leader of a large construction company is worried about the appearance of a new excavator on the market. In fact, this The device is clearly superior to the one the company bought 1 year ago. As a result, the market value of the excavator used by the company has dropped from $ 400,000 last year to $ 40,000 this year. In 10 years, it will only be worth $ 5,000. The new excavator costs only $ 650,000 and is expected to increase operating profits by $ 70,000 per year. It has a life of 10 years and is estimated to be worth recovery at $ 105,000. If the tax rate is maintained at 35%, the rate capital cost allowance (CCA) for both excavators is 25% and that the minimum return required is 13%, what should this manager do?
In: Finance
On March 1, Imhoff Co. began construction of a small building. Payments of $400,000 were made monthly for four months beginning March 1. The building was completed and ready for occupancy on June 1. In determining the amount of interest cost to be capitalized, the weighted-average accumulated expenditures are? How would I calculate this?
You probably will answer that $400,000 * ((3/12)+(2/12)+1/12))=200,000
But Why is that weighted as 3/12, 2/12 and 1/12 if the project was outstanding just for 3 months started from March 1 and ended in June 1. Shouldn't it be 3/3, 2/3, 1/3? Why?
In: Accounting