Questions
High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company...

High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor-hours. At the beginning of the year, the company provided the following estimates: Department Molding Painting Direct labor-hours 36,000 57,800 Machine-hours 90,000 32,000 Fixed manufacturing overhead cost $ 288,000 $ 560,660 Variable manufacturing overhead per machine-hour $ 2.40 - Variable manufacturing overhead per direct labor-hour - $ 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Department Molding Painting Direct labor-hours 88 133 Machine-hours 340 74 Direct materials $ 944 $ 1,160 Direct labor cost $ 710 $ 990 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contained 34 units, what would be the unit product cost?

In: Accounting

1)The weak form of the efficient market theory contends that Select one: A. any publicly available...

1)The weak form of the efficient market theory contends that Select one:

A. any publicly available information is useless in predicting future price movements.

B. past performance can help determine the general direction of future price movements.

C. past price performance is useless in predicting future price movements.

D. price movements are not random but follow a general trend over a period of time.

2)Which of the following beliefs would not preclude charting as a method of portfolio management?

Select one:

A. The market is weak-form efficient.

B. Stock prices follow recurring patterns.

C. The market is semistrong-form efficient.

D. The market is strong-form efficient.

3)If you believe in the ________ form of the EMH, you believe that stock prices reflect all publicly available information but not information that is available only to insiders.

Select one:

A. weak

B. semistrong

C. strong

D. perfect

4)Most people would readily agree that the stock market is not ________.

Select one:

A. weak-form efficient

B. efficient at all

C. semistrong-form efficient

D. strong-form efficient

5)________ is the return on a stock beyond what would be predicted from market movements alone.

Select one:

A. An abnormal return

B. A normal return

C. None of these options

D. A subliminal return

In: Finance

Complete the following Income Statement for 12/31/2019 with these assumptions which are in no particular order:...

Complete the following Income Statement for 12/31/2019 with these assumptions which are in no particular order:

HINT: Determine revenue as a starting point. If you cannot figure that output in a number and finish based on the rest of the assumptions as this will allow you to receive some points.

1. The company has an Operating Profit Margin of 30%

2. The company has an Account Receivable turnover of 12

3. The Contribution Rate for this company is 40%

4. They have an Interest Coverage ratio of 5

5. All sales for the company were on credit

6. They have a 30% tax rate

7. The account receivable balance as of 12/31/2019 was $7,000,000

Sales      

-Fixed Costs

- Variable Costs

EBIT

- Interest

Profit before Tax

- Tax

Net Income

In: Finance

According to the 2017 video, an audit found that Chinese theaters were shortchanging Hollywood movie studios....

According to the 2017 video, an audit found that Chinese theaters were shortchanging Hollywood movie studios. These studios have been releasing major blockbusters with both storylines and characters that are meant to specifically target Chinese audiences. In fact, studios depend on these overseas audiences to save critically slammed blockbusters.

Auditors at PriceWaterhouseCoopers (PwC) found that about 9% of ticket revenues were unreported or skimmed and that this amounted to at least $40 million in revenue for the six major studios.

Issues noted in the audit resulting in missing revenue included: Sales listed as concessions, incorrect audience numbers, and screenings that were completely unreported.

This was part of an investigation on behalf of the Motion Picture of America Association (MPAA). The auditors examined the 29 biggest blockbuster movies released in China in 2016 and looked at 125 screen locations run by 27 different movie chains.

At the time of the video and the report, the U.S. motion picture industry was renegotiating a revenue sharing agreement with China, since the original five-year agreement ended. At question were the push by Hollywood to have more market access, as well as the Chinese to boost product from their growing movie industry.

The investigation was only a sample of screens. In fact, China has the largest number of screens in the world, numbering about 43,000.

Prior to renegotiating the WTO agreement on revenue sharing, U.S. studios officially grossed $1.87 Billion and took home $470 M.

  1. What events or agreements in 2017 indicated that audits between studios and the Chinese movie market would become more important?

  2. What was the revenue sharing percentage prior to renegotiation of the 2017 WTO agreement?

  3. According to the textbook, revenue recognition is more problematic with respect to audit inherent risks in some industries, as compared to others. Would this be the case in the movies industry in China? Why?

  4. Revenue recognition in Chinese movie theaters is also problematic with respect to audit control risks. Why?

In: Accounting

Paller AS, Mercy K, Kwasny MJ, et al.  Association of pediatric psoriasis severity with excess and central...

Paller AS, Mercy K, Kwasny MJ, et al.  Association of pediatric psoriasis severity with excess and central adiposity: an international cross-sectional study. JAMA Dermatol. 2013 Feb;149(2):166-76.

Questions 1-5 relate to the Paller AS, et al. article.

1. Which best describes the research question investigated in the Paller AS, et al. study?

Group of answer choices

1. What is the relationship between adiposity and psoriasis severity in adults?

2. What is the relationship between adiposity and psoriasis severity in children?

3. Do children have a greater prevalence of psoriasis compared to adults?

4. Do adults have a greater prevalence of psoriasis compared to children?

2. Which type of study design was used to investigate this research question?

Group of answer choices

1. Retrospective Cohort

2. Case-control

3. Ecologic

4. Cross-sectional

3. How were subjects selected for inclusion in this study?

Group of answer choices

1.Subjects were recruited from a convenience sample of all patients with psoriasis

2.Subjects were recruited from among all adult psoriasis patients visiting their dermatologist between June 2009 and December 2011

3.Subjects were recruited from among all pediatric psoriasis patients presenting between June 2009 and December 2011 to participating dermatology referral centers located in 9 countries

4.Subjects were recruited from among all pediatric patients presenting between June 2009 and December 2011 with BMI >85th and <95th percentile

4.What measure(s) served as the outcome variable(s)?

Group of answer choices

1.Body Mass Index (BMI)

2.Psoriasis Severity

3.Body Mass Index (BMI), Waist Circumference and Waist-to-Height Ratio

4.Body Mass Index (BMI), Waist Circumference, Waist-to-Height Ratio and Psoriasis Severity

5.What measure(s) served as the exposure variable(s)?

Group of answer choices

1.Body Mass Index (BMI)

2.Psoriasis Severity

3.Body Mass Index (BMI), Waist Circumference and Waist-to-Hip Ratio

4.Body Mass Index (BMI), Waist Circumference, Waist-to-Hip Ratio and Psoriasis Severity

Cui Y, Zhang ZF, Froines J, et al. Air pollution and case fatality of SARS in the People's Republic of China: an ecologic study. Environ Health. 2003 Nov 20;2(1):15.

Questions 6-10 relate to the Cui Y, et al. article.

6.Which best describes the research question investigated in the Cui Y, et al. study?

Group of answer choices

1.Is there a relationship between air pollution and acute respiratory case fatality?

2.Is there a relationship between air pollution and asthma case fatality?

3.Is there a relationship between air pollution and COPD case fatality?

4.Is there a relationship between air pollution and SARS case fatality?

7. Which type of study design was used to investigate this research question?

Group of answer choices

1.Retrospective Cohort

2.Case-control

3.Ecologic

4. Cross-sectional

8. What data were used for this study?

Group of answer choices

1.Publicly accessible data on asthma morbidity and mortality in the People’s Republic of China

2.Publicly accessible data on SARS morbidity and mortality in the People’s Republic of China

3.Publicly accessible data on COPD morbidity and mortality in the People’s Republic of China

4.Publicly accessible data on acute respiratory failure morbidity and mortality in the People’s Republic of China

9.How were these data analyzed?

Group of answer choices

1. Prevalence odds ratio

2.Linear regression modeling

3.Logistic regression modeling

4.Prevalence ratio

10. What were the results of these analyses?

Group of answer choices

1. A negative relationship existed between air pollution and case fatality

2. A positive relationship existed between air pollution and case fatality

3. No relationship existed between air pollution and case fatality

4. Indeterminable

In: Nursing

The trial balance columns of the worksheet for Swifty Company at June 30, 2022, are as...

The trial balance columns of the worksheet for Swifty Company at June 30, 2022, are as follows.

Swifty Company
Worksheet
For the Month Ended June 30, 2022

Trial Balance

Account Titles

Dr.

Cr.

Cash 2,000
Accounts Receivable 2,780
Supplies 1,980
Accounts Payable 1,040
Unearned Service Revenue 440
Common Stock 2,560
Service Revenue 3,400
Salaries and Wages Expense 560
Miscellaneous Expense 120
7,440 7,440

Other data:

1.

A physical count reveals $350 of supplies on hand.

2.

$150 of the unearned revenue is still unearned at month-end.

3.

Accrued salaries are $250.

Complete the worksheet.

Swifty Company
Worksheet

choose the accounting period                                                          For the Quarter Ended June 30, 2022For the Month Ended June 30, 2022June 30, 2022

Trial Balance

Adjustments

Adj. Trial Balance

Income Statement

Balance Sheet

Account Titles

Dr

Cr.

Dr

Cr.

Dr

Cr.

Dr

Cr.

Dr

Cr.

Cash

2,000

Accounts Receivable

2,780

Supplies

1,980

Accounts Payable

1,040

Unearned Service Revenue

440

Common Stock

2,560

Service Revenue

3,400

Salaries and Wages Expense

560

Miscellaneous Expense

120

   Totals

7,440

7,440

Supplies Expense
Salaries and Wages Payable
   Totals enter a total for the debit column enter a total for the credit column enter a total for the debit column enter a total for the credit column

enter a total for the debit column

enter a total for the credit column

enter a total for the debit column

enter a total for the credit column

Net Income enter a total net income or loss amount enter a total net income or loss amount enter a total net income or loss amount enter a total net income or loss amount
   Totals enter a total of the two previous amounts enter a total of the two previous amounts enter a total of the two previous amounts enter a total of the two previous amounts

In: Accounting

With a critical analysis of the micro environmental forces which are forces close to the company...

With a critical analysis of the micro environmental forces which are forces close to the
company that affects its ability to serve its customers; all those factors that are closely
associated with the operations of the business and influences its functioning including
suppliers, customers, marketing intermediaries, competitors and publics; discuss the
effects of COVID-19 on Five (5) micro environmental forces within the financial
service sector in Ghana today

In: Finance

Customers arrive at a grocery store at an average of 2.1 per minute. Assume that the...

Customers arrive at a grocery store at an average of 2.1 per minute. Assume that the number of arrivals in a minute follows the Poisson distribution. Provide answers to the following to 3 decimal places.

Part a)

What is the probability that exactly two customers arrive in a minute?



Part b)

Find the probability that more than three customers arrive in a two-minute period.



Part c)

What is the probability that at least seven customers arrive in three minutes, given that exactly two arrive in the first minute?

question c is not 0.442

In: Math

Assume that you are a newly appointed junior auditor in PwC, an auditing firm. After a...

Assume that you are a newly appointed junior auditor in PwC, an auditing firm. After a 3-month rigorous training on the job, you have been awarded the certificate of completion and is now ready to embark on your very first assignment. Today, your first job was to evaluate the audit evidence gathered by your team from Salalah Trading and see if they are reliable or not based on ISA 500.

The following are the evidences gathered in various forms:

a) Your senior auditor assigned you to directly observe how a sale transaction is done in Salalah Trading. You were given three days to observe the sale transaction completely.

b)You need to get confirmation from customers if they really are paying their loans to Salalah Trading. The customers you have interviewed gave you their oral confirmation.

c) Your colleague, the auditor in-charge of physical examination of inventory of stocks gave their written report to you as part of audit evidence.

d)In the file of audite vidences,you also found the ratio analysis done by the previous auditors of Salalah Trading.

e) You also collected from the Sales Department the written agreements between the company and their customers about “no refund policy”. They were signed by both the customers and the manager.


**Required:
Evaluate the reliability of each of the documents above and identify the one that is considered the most reliable and least reliable.

In: Accounting

On April 1, Maryam established Maryam's Travel Agency. The following transactions were completed during the month:...

On April 1, Maryam established Maryam's Travel Agency. The following transactions were completed during the month: Pass journal entries to record the following transactions 1 April 2 April 3 April 4 April S April 6 April Performed services worth OMR 10,000: OMR 3,000 cash is received from customers, and the balance of OMR 7,000 is billed to customers on account. Invested OMR 15,000 cash to start the agency. Paid OMR 600 cash for April office rent. Purchased equipment for OMR 3,000 cash. Incurred OMR 700 of advertising costs in Oman Times, on account. Paid OMR 900 cash for office supplies. Withdrew OMR 600 cash for personal use. Paid Oman Times OMR 500 of the amount due in transaction on 4 April. Paid employees' salaries OMR 2,500. Received OMR 4,000 in cash from customers who have previously been billed 7 April 8 April 9 April 10 April in transaction in April 6. 11 April 12 April 13 April April 15 April 16 April 17 April 18 April 19 April Received OMR 5,000 from customers as advance payment for travel services next 20 April Paid 6-month insurance to Muscat Insurance Company, OMR 600

In: Accounting