1.Assume that the cost formula for one of a company’s variable expenses is $5.00 per unit. The company’s planned level of activity was 2,000 units and its actual level of activity was 2,200 units. The actual amount of this expense was $10,040. The spending variance for this expense is:

• $960 F.

• $1,560 F.

• $2,520 U.

• $2,520 F

2.Assume the sales budget for April and May is 46,000 units and 48,000 units, respectively. The production budget for the same two months is 43,000 units and 44,000 units, respectively. Each unit of finished goods required 4 pounds of raw materials. The company always maintains raw materials inventory equal to 25% of the following months production needs. If the company pays $2.75 per pound of raw material, then what is the estimated cost of raw material purchases for April?

• $478,750

• $475,750

• $475,000

• $481,500

3.Assume that a company’s budgeted revenue per unit is $50. The company’s planned level of activity was 2,000 units and its actual level of activity was 2,200 units. Its actual revenue was $103,400. The company’s revenue variance is:

• $6,600 U.

• $6,600 F.

• $4,600 F.

• $4,600 U.

4.Assume the sales budget for April and May is 42,000 units and 44,000 units, respectively. The production budget for the same two months is 39,000 units and 40,000 units, respectively. Each unit of finished goods required 4 pounds of raw materials. The company always maintains raw materials inventory equal to 30% of the following month's production needs. How many pounds of raw material need to be purchased in April?

• 159,200

• 157,200

• 156,600

• 161,100

5.Assume a company’s budgeted unit sales and its required production in units for April are 92,000 units and 90,000 units, respectively. The direct labor-hours required per unit is 1.50 hours. The company’s total budgeted direct labor cost for April is $1,957,500. What is the budgeted direct labor wage rate per hour for April?

• $14.50

• $19.07

• $18.40

• $14.18

6.Assume the following (1) sales = $200,000, (2) unit sales = 10,000, (3) the contribution margin ratio = 37%, and (4) net operating income = $10,000. Given these four assumptions, which of the following is true?

• The variable expense per unit = $7.40

• The total fixed expenses = $126,000

• The total contribution margin = $74,000

• The break-even point is 8,077 units

7.Assume that a company’s planned level of activity was 2,000 units and its actual level of activity was 2,100 units. The revenue variance was $1,200 unfavorable and the revenue activity variance was $7,400 unfavorable. What budgeted revenue per unit does the company use for creating its planning and flexible budgets?

• $74 per unit

• $70 per unit

• $64 per unit

• $40 per unit

Duncan’s Pizzas is a chain of pizza stores. Pizzas are made fresh in-store, and then delivered to customers by a fleet of drivers. The senior management team has identified the strategic priorities for the business as on-time delivery and product quality.

Required:

1. a) For each of the strategic priorities, suggest three performance measures.

2. b) If the company is successful in achieving challenging targets for these performance measures, will it also necessarily achieve high profitability? Explain your answer

An online air ticket reservation company is experimenting with a new interactive user interface design for its customers. Study any leading online air ticket reservation system to understand this interface and using it, give examples of any three social impact of interface design for following elements. You can use screenshots to elaborate your example.

1. Describe the new system and its benefits
2. Outline the development process

Please show all work so I cam better understand and learn

Crazy Cliff’s Car Coral (CCCC) has an unusually large number of customers failing to make their car payments. Consequently, CCCC is considering investing in a GPS tracking system that will allow them to track and immobilize the cars when customers miss a payment. CCCC has already paid $10,000 in non-refundable fees necessary to get approval from the state. The system has an initial cost of $90,000 and a three-year useful life. CCCC depreciates all assets to zero using straight-line depreciation. The equipment has zero salvage value at the end of the project in 3 years. The new system also requires an additional investment in inventory of $6,000 at the beginning of the project (the inventory will be sold for $6,000 at the end of the project). CCCC estimates the new GPS system will save $60,000 per year in collection costs over the three-year life of the project. CCCC’s tax rate is 25% and the appropriate discount rate is 15%. What is the payback period of the project? What is the NPV of the project? What is the IRR of the project? Should CCCC accept the project?

For the next 7 questions, please refer to the following information.

Mr. Cherry owns a gas station on a highway in Vermont. In the afternoon hours, there are, on average, 30 cars per hour passing by the gas station that would like to refuel. However, because there are several other gas stations with similar prices on the highway, potential customers are not willing to wait—if they see that all of the pumps are occupied, they continue on down the road.
The gas station has three pumps that can be used for fueling vehicles, and cars spend four minutes, on average, parked at a pump (filling up their tank, paying, etc.).

d. What is the probability that all three pumps are being used by vehicles?

• A. 0.1895
• B. 0.1650
• C. 0.1458
• D. 0.2105

e. How many customers are served every hour?

• A. 23.7
• B. 25.6
• C. 12.7
• D. 16.7

f. What is the utilization of the pumps?

• A. 0.63
• B. 0.83
• C. 0.53
• D. 0.73

g. How many pumps should it have to ensure that it captures at least 98 percent of the demand that drives by the station?

• A. 6
• B. 2
• C. 4
• D. 8

Hamburgers are America’s favorite food. Consumers spend more than $100 billion on the beef sandwiches every year. But despite America’s infatuation with burgers, there is considerable dissatisfaction among consumers based on hamburger quality and value. Many customers just aren’t happy with what is served up at market-leading fast-food outlets. They want a better burger, and they won’t hesitate to pay a higher price to get one. Enter Smashburger. Started just a few years ago in Denver, Colorado, Smashburger is now a rapidly expanding chain of more than 100 stores in 17 states. And all this growth happened during a severe economic downturn despiteSmashburger’s average lunch check of $8. Many customers pay as much as $10 or $12 for a burger, fries, and shake. The Smashburgervideo shows how this small startup has pulled off a seemingly impossible challenge.

Discuss the three major pricing strategies in relation to Smashburger. Which of these three do you think is the company’s core strategic strategy?

What effect does Smashburger’s premium price have on consumer perceptions?

Is Smashburger’s success based on novelty alone or will it continue to succeed? Explain.

Male students at SCC last semester. You will use this data throughout the semester on your lab assignments.

Student # Gender Height Shoe Age Hand

1 M 67 10 19 R

2 M 74 12 17 R

3 M 72 11.5 19 R

4 M 69 10 35 R

5 M 66 9 18 R

6 M 71 10.5 17 R

7 M 72 10.5 17 R

8 M 66 10 20 R

9 M 67 10 18 R

10 M 71 10.5 24 R

11 M 66 10 21 R

12 M 71 10.5 18 R

13 M 69 10 22 R

14 M 66 9.5 18 L

15 M 76 14 18 R

16 M 69 11 22 R

17 M 68 9 19 R

18 M 70 12 30 R

19 M 67 10 24 R

20 M 70 11 21 R

21 M 70 10 52 R

22 M 63 9 27 R

23 M 69 11 22 R

24 M 72 10 22 R

25 M 76 11.5 20 L

26 M 75 11 17 R

27 M 72 11 50 L

28 M 69 11 20 R

29 M 70 12 20 R

30 M 69 11.5 23 R

31 M 70 11 18 R

32 M 67 10 21 R

33 M 68 11 44 R

34 M 76 13 48 R

35 M 62 8 23 L

36 M 69 9 19 R

37 M 72 10 60 R

38 M 73 11.5 41 R

39 M 70 9.5 39 R

40 M 78 15 24 R

41 M 65 8.5 23 R

42 M 68 9.5 20 R

2. Using the SCC men’s/women’s class sample data at the ?=0.05, is there enough evidence to conclude that there is a significant linear correlation between men’s/women’s height and men’s/women’s shoe size?

a. State the null and alternate hypotheses.

b. Specify the level of significance.

c. State the correlation coefficient. (3 decimal places)

d. State the critical value from Table 11. (Use the value of n that is closest to your sample size.)

e. State whether to “reject the ?0” or “fail to reject the ?0”.

f. Interpret the decision in the context of the original claim.

12.64  Do poets die young? According to William Butler Yeats, “She is the Gaelic muse, for she gives inspiration to those she persecutes. The Gaelic poets die young, for she is restless, and will not let them remain long on earth.’’ One study designed to investigate this issue examined the age at death for writers from different cultures and genders.²¹ Three categories of writers examined were novelists, poets, and nonfiction writers. Most of the writers are from the United States, but Canadian and Mexican writers are also included. ( DATA Below)

1. (a) Use graphical and numerical methods to describe the data.

2. (b) Examine the assumptions necessary for ANOVA. Summarize your findings.

3. (c) Run the ANOVA and report the results.

4. (d) Use a contrast to compare the poets with the two other types of writers. Do you think that the quotation from Yeats justifies the use of a one-sided alternative for examining this contrast? Explain your answer.

5. (e) Use another contrast to compare the novelists with the nonfiction writers. Explain your choice for an alternative hypothesis for this contrast.

DATA Below:

Question 22

Which of the following is NOT an example of a legal barrier to entry?

patents

government granted franchise

copyrights

information

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Question 23

To be able to price discriminate, a firm must

have a public franchise.

be a natural monopoly.

prevent resales.

have a patent.

Question 24

For a single-price monopolist, price is

equal to marginal revenue.

greater than marginal revenue.

less than marginal revenue.

equal to zero because the firm is not a price taker.

Question 25

To maximize its profit, a single-price monopolist will produce an output level where its marginal revenue

equals zero.

equals its marginal cost.

exceeds its marginal cost.

is less than its marginal cost.

Question 26

If we compare perfect competition to a single-price monopolist, we see that the monopolist sells

the same quantity at higher prices.

a smaller quantity at higher prices.

a larger quantity at lower prices.

a larger quantity at higher prices.

Question 27

One way a monopoly can convert additional consumer surplus into economic profit is to

lower prices.

raise prices.

price discriminate.

become more competitive.

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Question 28

Compared to a single-price monopoly, when a monopoly can perfectly price discriminate, the deadweight loss

increases.

decreases.

remains the same.

might change, but more information is needed to determine if it increases, decreases, or remains constant.

Question 29

Compared to a single-price monopoly, when a monopoly can perfectly price discriminate, the Consumer Surplus

increases.

decreases.

remains the same.

might change, but more information is needed to determine if it increases, decreases, or remains constant.

Question 30

The total revenue test using the price elasticity of demand

explains why monopolies will only operate on the elastic portion of their demand curve.

explains why monopolies will only operate on the inelastic portion of their demand curves.

helps regulators decide whether to use a marginal cost pricing rule or an average cost pricing rule.

determines whether a monopoly can perfectly price discriminate or not.