Using SPSS complete an analysis for the following question. Print out your results and take a picture of the results with your interpretation on the printout. You can type the interpretation or handwrite the interpretation. The subject line should be SPSSQ4 last name first name.

1. A gerontologist investigating aspects of aging wanted to determine if leaner (not fat) rats might have longer life expectancies. She randomly assigned newborn rats to 1 of 3 treatment groups: unlimited food, 90% of the amount of food a rat of said size would eat and 80% of the amount of food said rat would normally eat. She maintained the rats on the 3 diets throughout their lives and recorded their life spans (years). Is there any evidence that diet affected life span in this study? If so, what diet affects longevity more? Assume her sample size was adequate. 10pts

Amanda would like to organize BAL as either an LLC (taxed as a sole proprietorship) or a C corporation. In either form, the entity is expected to generate an 8 percent annual before-tax return on a $500,000 investment. Amanda’s marginal income tax rate is 37 percent and her tax rate on dividends and capital gains is 23.8 percent (including the 3.8 percent net investment income tax). If Amanda organizes BAL as an LLC, she will be required to pay an additional 2.9 percent for self-employment tax and an additional 0.9 percent for the additional Medicare tax. Also, she is eligible to claim a full deduction for qualified business income on BAL’s income. Assume that BAL will distribute half of its after-tax earnings every year as a dividend if it is formed as a C corporation. (Round your intermediate computations to the nearest whole dollar amount.)

b. What is the overall tax rate on BAL’s income in the first year if BAL is organized as an LLC or as a C corporation? (Round your final answers to 2 decimal places.)

You are the accountant for London Imports and Exports. The company imports and exports food and candy items throughout the world. The company is finalizing its 3^rd quarter financial results. All adjustments have been made for the 3^rd quarter except the adjustment for Bad Debts Expense. The preliminary 3^rd quarter results along with the 1^st and 2^nd quarter results are shown below.

The CFO asked you to look at the Allowance for Doubtful Accounts and use the Aged Accounts Receivable to calculate the adjustment needed for bad debts expense for the 3^rd quarter. The CFO stated that he knows the customers are slower at paying this quarter but he wants the Allowance for Doubtful Accounts to not be increased; in fact he’s encouraging you to decrease it so it has an adjusted balance of $8,000. He wants you to play around with the estimated bad debt loss rates to get the number he wants for the adjusted balance of the Allowance account. You are confused, so you decide to analyze the Allowance for Doubtful Accounts, and you came up with the following summary of the T account below:

AGING OF ACCOUNTS RECEIVABLE SCHEDULE:

Answer the following questions:

1. What is the problem with the Controller asking you to "play around with the estimated bad debt loss until you get it to work"?

2. If you were to record the bad debts expense based on what you learned in accounting, what amount would you record and how did you calculate this?

3. If you were to record the bad debts expense based on what the controller wants, what amount would you record and how did you calculate this?

4. Is there any evidence of unethical behavior in this case? Thoroughly explain your answer. Be sure to mention how net income would be affected based on your answers to #2 and #3 and how this would affect stakeholders. State what you believe is the ethical course of action.

2301 KEY ASSIGNMENT

You are the accountant for London Imports and Exports. The company imports and exports food and candy items throughout the world. The company is finalizing its 3^rd quarter financial results. All adjustments have been made for the 3^rd quarter except the adjustment for Bad Debts Expense. The preliminary 3^rd quarter results along with the 1^st and 2^nd quarter results are shown below.

The CFO asked you to look at the Allowance for Doubtful Accounts and use the Aged Accounts Receivable to calculate the adjustment needed for bad debts expense for the 3^rd quarter. The CFO stated that he knows the customers are slower at paying this quarter but he wants the Allowance for Doubtful Accounts to not be increased; in fact he’s encouraging you to decrease it so it has an adjusted balance of $8,000. He wants you to play around with the estimated bad debt loss rates to get the number he wants for the adjusted balance of the Allowance account. You are confused, so you decide to analyze the Allowance for Doubtful Accounts, and you came up with the following summary of the T account below:

AGING OF ACCOUNTS RECEIVABLE SCHEDULE:

Answer the following questions:

1. What is the problem with the Controller asking you to "play around with the estimated bad debt loss until you get it to work"?

2. If you were to record the bad debts expense based on what you learned in accounting, what amount would you record and how did you calculate this?

3. If you were to record the bad debts expense based on what the controller wants, what amount would you record and how did you calculate this?

4. Is there any evidence of unethical behavior in this case? Thoroughly explain your answer. Be sure to mention how net income would be affected based on your answers to #2 and #3 and how this would affect stakeholders. State what you believe is the ethical course of action.

Budget Project - Master Budget for a Garneau Manufacturer Garneau Manufacturing Ltd. produces and distributes a special type of chemical compound called Compound WX. The information below about Garneau's operations has been assembled to assist budget preparation. The company is preparing its master budget for the first quarter of 2016. The budget will detail each month’s activity and the activity for the quarter in total. The master budget will be based on the following information:

1. Selling price is $60 per unit in 2015 and will not change for the first two quarters of 2016. Actual and estimated sales are as follows:

Actual 2015 Estimated 2016

November: 10 000 units January: 11 000 units

December: 12 000 units February: 10 000 units

March: 13 000 units

April: 11 000 units

May: 10 000 units

2. The company produces enough units each month to meet that month’s sales plus a desired inventory level equal to 20% of next month’s estimated sales. Finished Goods inventory at the end of 2015 consisted of 2,200 units at a variable cost of $33 each.

3. The company purchases enough raw materials each month for the current month’s production requirement and 25% of next month's production requirements. Each unit of product requires 5 kilograms of raw material at $0.60 per kilogram. There were 13,500 kilograms of raw materials in inventory at the end of 2015. Garneau pays 40% of raw material purchases in the month of purchase and the remaining 60% in the following month.

4. Each unit of finished product requires 1.25 labour-hours. The average wage rate is $16 per hour.

5. Variable manufacturing overhead is 50% of the direct labour cost.

6. Credit sales are 60% of total sales. The company collects 50% of the credit sales during the first month following the month of sale and 50% during the second month.

7. Fixed overhead costs (per month) are as follows:

Factory Supervisor's Salary: $75 000

Factory Insurance: $1 400

Factory Rent: $8 000

Deprciation of Factory Equipment: $1 200

8. Total fixed selling and administrative expenses are as follows:

Advertising: $300

Depreciation: $9 000

Insurance: $250

Salaries: $4 000

Other: $14 550

9. Variable selling and administrative expenses consist of $4 for shipping and 10% of sales for commissions.

10.The company will acquire assets for use in the sales office at a cost of $300,000, which will be paid at the end of January 2016. The monthly depreciation expense on the additional capital assets will be $6,000.

11.The balance sheet as of December 31, 2015, is as follows:

Assets

Cash $80 000

Accounts Recieveable 612 000

Inventory: Raw Matrerials $8 100

add

Finished Goods 72 600 = 80 700

Plant and Equipment 1 000 000

Less: Accumulation Depreciation (100 000) 900 000

Total Assets 1 672 700

Liabilities and Equity

Accounts Payable $24 000

6% Long Term Notes Payable 900 000

Common Shares 735 000

Retained Earnings 13 700

Total Liabilites and Shareholders' Equity 1 672 700

Additional information is as follows:

• All cash payments except purchases of raw materials are made monthly as incurred.

• All borrowings occur at the beginning of each month, and all repayments occur at the end of the month. Borrowings and repayments may occur in any amount.

• All interest on borrowed funds is paid at the end of each month at a rate of 0.5% per month.

• A minimum cash balance of $30,000 is required at the end of each month.

Required: Prepare the following budgets for each of the first three months of 2016:

1. Manufacturing overhead budget.

2. Selling and administrative budget.

3. Cash budget.

1. Sources of monopoly power

A monopolist, unlike a competitive firm, has some market power. It can raise its price, within limits, without the quantity demanded falling to zero. The main way it retains its market power is through barriers to entry—that is, other companies cannot enter the market to create competition in that particular industry.

Complete the following table by indicating which barrier to entry appropriately explains why a monopoly exists in each scenario.

Grade It Now

Oil and gas workers have some of the most dangerous jobs in the country. In fact, according to the Bureau of Labor Statistics, about 4.2 percent of all oil and gas workers are hurt on the job each year. A great many of these incidents involve an oil rig accident, suffered off-shore on the decks or in the wells of a drilling operation. To help workers become more aware of the dangers and hazards associated with their job, company usually put helpful guide, noting common types and causes of oil field accidents, so these can be avoided and prevented. There are a number of types and kinds of oil rig injuries that can be suffered on the job. Some are due to negligence or error on the part of employers or co-workers, while others are simply a hazard of the oil and gas industry. Common types of oil field accident includes: burns, brain and head injuries, exposure to toxic fumes, amputations. Some of the common causes of oil field accidents are Gas leaks, High pressure in wells, Falling of objects, etc.Based on what you study in the course and understanding on above case study a. What are direct causes of accident and explain in details with an example related to acts and condition(2.5 marks each)

Problem 22-4A Manufacturing: Preparation of a complete master budget LO P1, P2, P3

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017:

To prepare a master budget for April, May, and June of 2017, management gathers the following information:

Sales for March total 21,800 units. Forecasted sales in units are as follows: April, 21,800; May, 18,700; June, 21,000; and July, 21,800. Sales of 253,000 units are forecasted for the entire year. The product’s selling price is $22.50 per unit and its total product cost is $18.00 per unit.

Company policy calls for a given month’s ending raw materials inventory to equal 50% of the next month’s materials requirements. The March 31 raw materials inventory is 4,830 units, which complies with the policy. The expected June 30 ending raw materials inventory is 5,300 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials.

Company policy calls for a given month’s ending finished goods inventory to equal 80% of the next month’s expected unit sales. The March 31 finished goods inventory is 17,440 units, which complies with the policy.

Each finished unit requires 0.50 hours of direct labor at a rate of $9 per hour.

Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $4.00 per direct labor hour. Depreciation of $30,750 per month is treated as fixed factory overhead.

Sales representatives’ commissions are 8% of sales and are paid in the month of the sales. The sales manager’s monthly salary is $4,300.

Monthly general and administrative expenses include $25,000 administrative salaries and 0.7% monthly interest on the long-term note payable.

The company expects 20% of sales to be for cash and the remaining 80% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale).

All raw materials purchases are on credit, and no payables arise from any other transactions. One month’s raw materials purchases are fully paid in the next month.

The minimum ending cash balance for all months is $53,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance.

Dividends of $23,000 are to be declared and paid in May.

No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter.

Equipment purchases of $143,000 are budgeted for the last day of June.

Required:
Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar.):

1. Sales budget.
2. Production budget.
3. Raw materials budget.
4. Direct labor budget.
5. Factory overhead budget.
6. Selling expense budget.
7. General and administrative expense budget.
8. Cash budget.
9. Budgeted income statement for the entire second quarter (not for each month separately).
10. Budgeted balance sheet.

I ONLY NEED REQUIREMENTS 5-10, I HAVE ALREADY COMPLETED 1-4

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: ZIGBY MANUFACTURING Estimated Balance Sheet March 31, 2017 Assets Cash $ 54,000 Accounts receivable 354,375 Raw materials inventory 100,495 Finished goods inventory 333,000 Total current assets 841,870 Equipment, gross 628,000 Accumulated depreciation (164,000 ) Equipment, net 464,000 Total assets $ 1,305,870 Liabilities and Equity Accounts payable $ 212,195 Short-term notes payable 26,000 Total current liabilities 238,195 Long-term note payable 514,000 Total liabilities 752,195 Common stock 349,000 Retained earnings 204,675 Total stockholders’ equity 553,675 Total liabilities and equity $ 1,305,870 To prepare a master budget for April, May, and June of 2017, management gathers the following information: Sales for March total 22,500 units. Forecasted sales in units are as follows: April, 22,500; May, 19,500; June, 21,700; and July, 22,500. Sales of 254,000 units are forecasted for the entire year. The product’s selling price is $22.50 per unit and its total product cost is $18.50 per unit. Company policy calls for a given month’s ending raw materials inventory to equal 50% of the next month’s materials requirements. The March 31 raw materials inventory is 5,025 units, which complies with the policy. The expected June 30 ending raw materials inventory is 5,400 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials. Company policy calls for a given month’s ending finished goods inventory to equal 80% of the next month’s expected unit sales. The March 31 finished goods inventory is 18,000 units, which complies with the policy. Each finished unit requires 0.50 hours of direct labor at a rate of $10 per hour. Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $4.10 per direct labor hour. Depreciation of $30,790 per month is treated as fixed factory overhead. Sales representatives’ commissions are 6% of sales and are paid in the month of the sales. The sales manager’s monthly salary is $4,400. Monthly general and administrative expenses include $26,000 administrative salaries and 0.5% monthly interest on the long-term note payable. The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale). All raw materials purchases are on credit, and no payables arise from any other transactions. One month’s raw materials purchases are fully paid in the next month. The minimum ending cash balance for all months is $54,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance. Dividends of $24,000 are to be declared and paid in May. No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 40% in the quarter and paid in the third calendar quarter. Equipment purchases of $144,000 are budgeted for the last day of June. Required: Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar.): 1. Sales budget. 2. Production budget. 3. Raw materials budget. 4. Direct labor budget. 5. Factory overhead budget. 6. Selling expense budget. 7. General and administrative expense budget. 8. Cash budget. 9. Budgeted income statement for the entire second quarter (not for each month separately). 10. Budgeted balance sheet.

CAN YOU PLEASE ANSWER THE ENITRE QUESTION. GOD BLESS AND STAY SAFE.

Please assist me in completing the last three items: Cash Budget, Budgeted Income Statement and Budgeted Balance Sheet. I am stuck. Thanks in advance.

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017:

To prepare a master budget for April, May, and June of 2017, management gathers the following information:

Sales for March total 20,000 units. Forecasted sales in units are as follows: April, 20,000; May, 19,000; June, 19,500; and July, 20,000. Sales of 245,000 units are forecasted for the entire year. The product’s selling price is $26.00 per unit and its total product cost is $22.80 per unit.

Company policy calls for a given month’s ending raw materials inventory to equal 50% of the next month’s materials requirements. The March 31 raw materials inventory is 4,800 units, which complies with the policy. The expected June 30 ending raw materials inventory is 4,500 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials.

Company policy calls for a given month’s ending finished goods inventory to equal 80% of the next month’s expected unit sales. The March 31 finished goods inventory is 16,000 units, which complies with the policy.

Each finished unit requires 0.50 hours of direct labor at a rate of $20 per hour.

Overhead is allocated based on direct labor hours. The predetermined variable overhead rate is $3.20 per direct labor hour. Depreciation of $23,400 per month is treated as fixed factory overhead.

Sales representatives’ commissions are 6% of sales and are paid in the month of the sales. The sales manager’s monthly salary is $3,500.

Monthly general and administrative expenses include $17,000 administrative salaries and 0.9% monthly interest on the long-term note payable.

The company expects 30% of sales to be for cash and the remaining 70% on credit. Receivables are collected in full in the month following the sale (none are collected in the month of the sale).

All raw materials purchases are on credit, and no payables arise from any other transactions. One month’s raw materials purchases are fully paid in the next month.

The minimum ending cash balance for all months is $45,000. If necessary, the company borrows enough cash using a short-term note to reach the minimum. Short-term notes require an interest payment of 1% at each month-end (before any repayment). If the ending cash balance exceeds the minimum, the excess will be applied to repaying the short-term notes payable balance.

Dividends of $15,000 are to be declared and paid in May.

No cash payments for income taxes are to be made during the second calendar quarter. Income tax will be assessed at 35% in the quarter and paid in the third calendar quarter.

Equipment purchases of $135,000 are budgeted for the last day of June.

Required:
Prepare the following budgets and other financial information as required. All budgets and other financial information should be prepared for the second calendar quarter, except as otherwise noted below. (Round calculations up to the nearest whole dollar, except for the amount of cash sales, which should be rounded down to the nearest whole dollar.):

1. Sales budget.
2. Production budget.
3. Raw materials budget.
4. Direct labor budget.
5. Factory overhead budget.
6. Selling expense budget.
7. General and administrative expense budget.
8. Cash budget.
9. Budgeted income statement for the entire second quarter (not for each month separately).
10. Budgeted balance sheet.