Sidneyland is a popular theme park in Southern California that is now planning for its eventual re-opening after closing during Covid-19. In years past, New Years Eve was the single largest day of revenue earned by the park due to the high sales volume of NYE themed merchandise. However, this year it is uncertain if Sidneyland will even be opened on New Years Eve, and the time to order the 2021 apparel is approaching. The first purchase deadline is at the end of October, at which point Sidneyland can either buy the goods in full for$100,000 or defer the decision until the end of November. At the end of November, the rush order price rises to$150,000. There is no cost nor profit if no purchase is made. Sidneyland’s public health and data science consultants estimate that there is a40% chance that the local Covid-19 situation improves from the end of October to the end of November, a60% chance that it stays in the current most restrictive tier. If it improves, the experts predict a90% chance the park is open on NYE, compared to a 30% chance if it stays in the current most restrictive tier. Assuming that all goods sell for $200,000 if the park is open on NYE but are otherwise unsellable, answer the following questions about Sidneyland’s purchasing strategy if their goal is to maximize expected merchandise profit.
A) What are all of the different times to make a decision, and what decisions can be made at those times?
B) Supposing that Sidneyland defers and waits to make a decision at the end of November and supposing further that the public health scenario improves from October to November, what strategy should they take and what is the resulting expected earnings (or losses)?
C) Using the projections from the end of October, what are the expected merchandise earnings (or losses) if Sidneyland elects to defer the decision from October to November?
D) Using the projections from the end of October, what are the expected merchandise earnings (or losses) if Sidneyland buys the merchandise at the end of October?
E) What decision should Sidneyland make at the end of October? Explain.
In: Computer Science
Gladstone Company tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31.
| Transactions | Units | Unit Cost | |||||||
| Beginning inventory, January 1 | 3,200 | $ | 45 | ||||||
| Transactions during the year: | |||||||||
| a. | Purchase, January 30 | 4,550 | 55 | ||||||
| b. | Sale, March 14 ($100 each) | (2,850 | ) | ||||||
| c. | Purchase, May 1 | 3,250 | 75 | ||||||
| d. | Sale, August 31 ($100 each) | (3,300 | ) | ||||||
Assuming that for Specific identification method (item 1d) the
March 14 sale was selected two-fifths from the beginning inventory
and three-fifths from the purchase of January 30. Assume that the
sale of August 31 was selected from the remainder of the beginning
inventory, with the balance from the purchase of May 1.
Required:
In: Accounting
Sport Box sells a wide variety of sporting equipment. The following is information on the purchases and sales of their top selling hockey stick. The hockey stick sells for $130 and had transactions as follows:
Required: Use the information above to answer the questions below for First In First Out (FIFO) and Moving Weighted Average (MWA) inventory costing methods.
ROUND ALL ANSWERS TO 2 DECIMAL PLACES
What is the Cost of Goods Sold for the Mar 3rd sale under FIFO inventory costing?
What is the Cost of Goods Sold for the Mar 17th sale under FIFO inventory costing?
What is the Cost of Goods Sold for the Mar 31st sale under FIFO inventory costing?
What is the ending inventory on Mar 31st under the FIFO inventory costing?
What is the Cost of Goods Sold for the Mar 17th sale under MWA inventory costing?
What is the Cost of Goods Sold for the Mar 31st sale under MWA inventory costing?
What is the ending inventory on Mar 31st under the MWA inventory costing?
What is the Gross Profit for the month of March under the MWA inventory costing?
CAN YOU PLEASE PROVIDE ME JUST THE NUMBERS IN EVERY QUESTION
In: Accounting
Neverstop Corporation sells item A as part of its product line. Information about the beginning inventory, purchases, and sales of item A are given in the following table for the first six months of the current year. The company uses a perpetual inventory system:
| Purchases | Sales | ||||||||||||
| Date | Number of Units | Unit Cost | Number of Units | Sales Price | |||||||||
| January 1 (beginning inventory) | 580 | $ | 4.10 | ||||||||||
| January 24 | 380 | $ | 5.60 | ||||||||||
| February 8 | 680 | $ | 4.20 | ||||||||||
| March 16 | 380 | $ | 5.60 | ||||||||||
| June 11 | 680 | $ | 4.20 | ||||||||||
4. Prepare journal entries to record the purchase and sale transactions, as well as the cost of sales, assuming that all sales and purchase transactions are on account and that the weighted-average method is used. (Do not round intermediate calculations and round the final answers to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Transaction list:
1
Record sales on account.
2
Record cost of sales on goods sold on account.
3
Record purchase of goods on account.
4
Record sales on account.
5
Record cost of sales on goods sold on account.
6
Record purchase of goods on account
Assume that because of a clerical error, the ending inventory is reported to be 1,080 units rather than the actual number of units (1,180) on hand.
5a. If FIFO is used, calculate the amount of the understatement or
overstatement in the cost of sales for the first six months of the
current year.
5b. If FIFO is used, calculate the amount of the understatement or
overstatement in the current assets at June 30 of the current
year.
ANSWER 4, 5a, 5b
In: Accounting
1.what is the consumer surplus when a monopoly is able to engage in perfect price discrimination?
A. It is equal to producer surplus
b.It is greater than producer surplus
c.it is equal to producer profits
d.it is equal to zero
2.A monopoly damages the welfare of society by:
a.Supplying an inefficiently low quantity of output
b.incurring marginal costs
c.creating monopoly profits
d. creating producer surplus
3.Which of the following is NOT a barrier to entry in monopoly market?
a.A key resource is owned by a single firm
b.The government awards a firm the exclusive right to produce a product
c.Average total costs are always declining
d.A monopoly firm faces perfectly elastic demand
4. For a natural monopoly, what is the relationship between average total cost and marginal cost?
a.Average total cost is falling, and marginal cost is above average total cost
b. Average total cost is falling, and marginal cost is below average total cost
c.Average total is cost is rising, and marginal cost is below average total cost
d.Average total cost is rising, and marginal cost is above average total cost
In: Economics
| 8. | According to the Classical Dichotomy, a country with a hyper-inflation due to excessive money supply growth should have: | ||||||||||||||||||||||||||||||||||||
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| 9. | According to the Quantity Theory of Money and the Fisher equation, a rise in money supply (for a given level of GDP and velocity) should raise the: | ||||||||||||||||||||||||||||||||||||
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In: Economics
1) Object "A" has twice the weight of object "B" at a given point on the moon's surface. "A" must have twice the mass of "B". True or False
2) The two objects above are moved to Mars. At the same place on the surface of Mars, the weight of "A" will be twice that of "B." True or False
3) For a given object composed of a known material on a known surface, the coefficient of kinetic friction is usually expected to be greater than the coefficient of static friction. True or False
4) A ball is dropped from an LWIT baloney. While falling, more
than one force acts on it in the vertical direction. Identify the
forces and select all the correct answers below.
a)Gravity
b) Normal Force
C) Tension
d)Lift
e) Friction
5) If there are only two forces on the above ball while falling and if their magnitudes are the same but their directions are opposite, then the ball's vertical velocity is constant. True or False
6) For the conditions in the question directly above, the ball is not accelerating and it is in equilibrium. True or False
7) The above ball's mass is 2.041 kg. What is the magnitude of the gravitational force acting on it?
8) If friction is neglected, what is the magnitude on the ball's acceleration in the vertical direction?(in m/s2)
In: Physics
In: Civil Engineering
Consider our graphical analysis of the bound states in a finite square well of depth V0 and width a. Determine
a) The condition on V0 and a that there is at most one bound state in the problem.
b) The condition on V0 and a that there is at most four bound states in the problem.
c) Suppose the potential parameters are such that the third bound state is just barely bound. What can you say about the binding energy of the first and second bound states?
In: Physics
Obtain the most recent annual report for JC Penney find reports via the internet.
1. List the total dollar value of the inventory for 2 years on balance sheet presented in the annual report.
2. Compute the percentage of inventories to total assets for 2 years of your annual report’s balance sheets and assess the results.
c. List the Cost of Goods Sold and the Gross Profit for your company for 2 years in income statement appearing in the annual report.
i. Calculate the percentage of Cost of Goods Sold to Net Sales and the percentage of Gross Profit to Net Sales for 2 periods and assess the results
d. Analyze/assess/discuss your findings.
In: Finance