BugControl Ltd produces and sells bug repellent. Information about the budget for the last quarter of year 20X1 is as follows:

1. The company expects to sell 40,000 bottles of BugControl in September, 55,000 in October, 93,000 in November, and 36,000 in December. The selling price of BugControl is $8.95 per bottle.
2. The desired ending inventory of finished goods is equal to 20% of next month’s sales whereas the desired ending inventory for material is 15% of next month’s production requirements.
3. At the beginning of October, the company expects to have 57,000 grams of Chemical A, and 97,000 grams of Chemical B on hand.
4. A bottle of BugControl requires 6 grams of Chemical A and 10 grams of Chemical B. The cost of Chemical A is 12 cents per gram, the cost of Chemical B is 9 cents per gram.
5. The cost of direct labour is 60 cents per bottle and the cost of variable overhead is 90 cents per bottle. Fixed manufacturing overhead is $40,000 per month.
6. Variable selling and administrative expense is 12% of sales and fixed selling and administrative expense is $65,000 per month.

Required:

1. Prepare the Sales Budget for the last quarter of the year 20X1.
2. Prepare the Production Budget for October and November of the year 20X1.
3. Prepare a Direct Materials Purchases Budget for both chemicals for October 20X1.
4. Prepare the following budgets  for October 20X1:
   1. Direct Labour Cost
   2. Factory Overhead Cost
   3. Selling and Administrative Expenses
5. 4. Production unit cost computations (Assume the fixed overhead cost per unit is $0.82) and Cost of Goods Sold Budget
   5. Budgeted Income Statement

Party Town (PT) is holding a Halloween party and charging the guests an admission fee of $20 per

person. PT has rented a banquet hall for $500 and the hall will accommodate up to 100 people. PT has

contracted with Cathy’s Catering to cater the party for $10 per person that attends (up to 100). The

party will occur on October 30, 2016 and is the only event scheduled for the quarter from October 1,

2022 to December 31, 2022 (fourth quarter of 2022).

Additional Information:

On October 1, 2022, PT’s balance sheet is expected to be as follows:

Cash $1,000

Party equipment $100

Bank loan $50

Equity, $1,050

The depreciation on the party equipment for the three months ended December 31, 2022 was expected

to be $5.

At the party, it is estimated that 90% of the guests will pay at the door in cash and 10% will pay on

January 30, 2023. The estimated party guests are 75.

Cathy’s Catering should be paid half their fee (Cathy requires the estimate to be the max of 100 people)

on October 1, 2022 and the balance will be paid on January 15, 2023.

The banquet hall should be paid in full on October 21, 2022.

Cash principal payments on the bank loan on December 31, 2022 will be $5. Interest on the loan will be

15% and will be paid in cash.

1: Party Town

Budgeted Income Statement for the Quarter Ended December 31, 2022

2: Party Town

Cash Flow Budget for the Quarter Ended December 31, 2022

3: Party Town

Balance Sheet Budget as of December 31, 2022

For 2018, Charlie’s would like to discontinue one of the appetizers. Which one would you suggest they discontinue, and why do you make that recommendation? Find two different ways to do an analysis that leads you to two different conclusions. (Using regression, correlation or descriptive stats)

1. O’Brien Vineyards is a producer of an award winning Pinot Noir. Please identify each cost driver below as either a Direct Materials, Direct Labor, Manufacturing Overhead, Marketing and Selling or Administrative. (each worth 2 points)

Cost Driver                                                                                          Type

The wages of employees who make wine.

The cost of advertising in Wine Spectator Magazine.

The cost of grapes used in the Pinot Noir.

The wages of production shift supervisor.

Rent on the production facility.

The salary of the O’Brien Vineyards company president.

Sales commissions paid to the O’Brien Vineyard’s salespeople.

Depreciation on wine bottling equipment.

Locate the results of a recent survey that show at least two variables in a newspaper, magazine, or internet article. Outline the survey data so that your peers can understand the variables and results. Then identify at least one key statistical inference formula involving two of more parameters that you could use to evaluate the data. Provide a brief explanation of why you selected the formula you did and why it matters. Also, explain what the formula is and where it is in the textbook and clearly define your parameters. Do not use regression or correlation examples since we will cover them during the next module.

“If we ignore Friedman’s crystalline perception — that profits are the driving focus — then the

entire mission, good will included, falls apart. When we turn the idea of profit into a callous

slur, as Friedman’s laziest critics often do, we are demeaning the essential propelling force

that enables all these interconnected good works to occur. – Ken Langone” (New York Times

Magazine Excerpt, 2020, p.7)

Q1. Using the ‘business case for sustainability’ (and any other relevant theory from the

subject), explain how businesses can change perceptions of profits as a ‘callous slur’ in

the context of sustainability. (500 Words)

(a) Select a newspaper/magazine/Internet article published in 2019-2020 that is related to international trade and/or political economy of trade. Summarize the content of the article. The source of the article should be provided in the reference.

(b) Discuss the article selected in part (a) using relevant economic concepts and theories from

Instruments of Trade Policy

Political Arguments for Intervention

Economic Arguments for Intervention

Managerial Implications

Absolute Advantage Theory

Comparative Advantage Theory

Heckscher-Ohlin Theory

New Trade Theory

Product Life Cycle Theory

Porter’s Diamond Theory

The sources of such additional information, if any, should be provided in the references.

Playbill magazine reported that the mean annual household income of its readers is $120,255. (Playbill, January 2006). Assume this estimate of the mean annual household income is based on a sample of 80 households, and based on past studies, the population standard deviation is known to be σ = $33,225.

a. Develop a 90% confidence interval estimate of the population mean.

b. Develop a 95% confidence interval estimate of the population mean.

c. Develop a 99% confidence interval estimate of the population mean.