Dowell Manufacturing contracts to produce bumper cars for Five Flags Parks. Under the terms of the contract, Five Flags will pay Dowell a total of $60,000 when bumper cars are delivered six months later, and Five Flags can cancel the contract but must pay Dowell for work completed. Dowell believes that, if Five Flags cancelled the contract, Dowell could not sell the bumper cars to another park. As of December 31, 2020, the job is 80% complete. How much revenue should Dowell recognize in 2020 for this contract?

Mickey Mouse Lets You Ride "for Free" At Disney World

• Walt Disney World Theme Parks offer visitors a wide variety of ticket choices.
• The one thing these ticket options have in common is that they entail a fixed entrance fee and allow customers to take as many rides as they want at no additional charge.
• For instance, by purchasing a 1-Day ticket for about $66, a customer gains unlimited access to the park of her choice for one day.
  • Wouldn't Disney earn higher profits if it charged visitors, say, $11, each time they went on a ride?

• Remember to research the topic.

BUSINESS TRAVEL EXPENSES An executive of Trident Communications recently traveled to London, Paris, and Rome. She  paid $280, $330, and $260 per night for lodging in London, Paris, and Rome, respectively, and his hotel bills totaled $4060. She spent $130, $140, and $110 per day for his meals in London, Paris, and Rome, respectively, and his expenses for meals totaled $1800. If she spent as many days in London as she did in Paris and Rome combined, how many days did she stay in each city? Solve using Gauz Jordan method.

Consider a taxi stand where inter-arrival times of the taxis and the customers are both exponential with means of 0.5 and 1 minutes, respectively. Stand has 3 spots that taxis can park while waiting for the arriving customers. Arriving taxis leaves the stand when all the spots are occupied. Similarly, arriving customers are also lost when there is no taxi in the stand.

a. Model this system as a birth and death process by defining the state and the state space, and drawing the rate diagram.
b. Compute the steady-state probabilities.
c. What is the expected number of taxis waiting at the stand in the long run?

Consider a taxi stand where inter-arrival times of the taxis and the customers are both exponential with means of 0.5 and 1 minutes, respectively. Stand has 3 spots that taxis can park while waiting for the arriving customers. Arriving taxis leaves the stand when all the spots are occupied. Similarly, arriving customers are also lost when there is no taxi in the stand.

a. Model this system as a birth and death process by defining the state and the state space, and drawing the rate diagram.

b. Compute the steady-state probabilities.

c. What is the expected number of taxis waiting at the stand in the long run?

QUESTION 1:

Davie's Hotel budgeted 800 room sales for the week ended June 24th. The estimated average price per room was $18.50. The actual average price per room was 10 percent greater than anticipated, while room sales in units were 10 percent less than forecasted.

Complete the following table for the Hotel’s revenue variance analysis.

A) Calculate the budget variance.

B) Calculate the price variance.

C) Calculate the volume variance.

D) Calculate the price-volume variance.

The table below contains a list of species and their abundances for two grassland communities around Serengeti National Park, Tanzania. Use the below data to answer the following question.

Using the Shannon diversity index, what is p_i for Sporobolus ioclados?

14. What are the highest tax rates for each of the following scenarios?

____. Operating income from a hotel earned by a foreign corporation (excluding branch profits tax)

____. Interest income earned by a foreign corporation from a US borrower

____. Net rental income earned by an U.S. individual (exclude the passthrough deduction)

____. Capital gain earned by an U.S. individual

____. Interest income earned by a U.S. corporation

____. Capital gain earned by an U.S. corporation

____. Depreciation recapture on the sale of U.S. real estate (Section 1250 property) for an individual

____. Depreciation recapture on the sale of U.S. real estate (Section 1245 property) for an individual

Using the demand and supply diagrams (one for each market), show what short-run changes in price and quantity would be expected in the following markets if terrorism-related worries about air safety cause travelers to shy away from air travel. Each graph should contain the original and new demand and supply curves, and the original and new equilibrium prices and quantities. For each market, write one sentence explaining why each curve shifts or does not shift.

The market for air travel.

The market for rail travel.

The market for hotel rooms in Hawaii.

The market for gasoline.

1. What, if anything, does each of the following quotations tell you about the demand elasticity? Explain.

a. "I drink two cups of coffee every morning regardless of the price."

b. "Attendance at the ball park went down when they increased the ticket price, but in spite of the decreased attendance, more money was taken in.”

c. "When the newspaper raised its price, the number of newspapers sold dropped by 20%.

d. My budget is $10 a week for cigarettes. I don’t care what happens to the price of cigarettes, once my budget is gone, I chew gum!