AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February:

The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $2,900 plus $35 per job, and the actual mobile lab operating expenses for February were $4,530. The company expected to work 50 jobs in February, but actually worked 52 jobs.

Required:

Prepare a flexible budget performance report showing AirQual Test Corporation’s revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

a. Jack Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year, the repair shop recorded $500,000 in computer repair revenues, $300,000 in expenses, and paid dividends of $50,000. The repair shop stockholders' equity at the end of the year was $___________.

b. Costs of goods sold is $15,000 greater than net purchases. If beginning inventory is $110,000, what is ending inventory? Using COGS=BI+P-EI

c. Revenue of $45,000 had been collected, but only $39,000 had been earned. Expenses of $24,000 had been incurred, but only $29,000 had been paid. Based on the accrual basis of accounting, what is the amount of net income?

d. The following is selected information from Tiff. Co for the fiscal year ending October 31, 2019.

Cash received from customers $300,000

Revenue recognized  $375,000

Cash paid for expenses $180,000

Cash paid for computers on November 1, 2018 that will be used for 3 years (annual depreciation is $16,000) $48,000

Expenses incurred, including interest, but excluding any depreciation $220,000

Proceeds from a bank loan, part of which was used to pay for the computers $100,000

Based on the accrual basis of accounting, what is Tiff. Co's net income for the year ending October 31, 2019?

The Boys of Summer

Which baseball league has had the best hitters? Many of us have heard of baseball greats like Stan Musial, Hank Aaron, Roberto Clemente, and Pete Rose of the National League and Ty Cobb, Babe Ruth, Ted Williams, Rod Carew, and Wade Boggs of the American League. But have you ever heard of Willie Keeler, who batted .432 for the Baltimore Orioles, or Nap Lajoie, who batted .422 for the Philadelphia A’s? The batting averages for the batting champions of the National and American Leagues are given on the CourseMate Web site.

The batting averages for the National League begin in 1876 with Roscoe Barnes, whose batting average was .403 when he played with the Chicago Cubs. The last entry for the National League is for the year 2010, when Carlos Gonzalez of the Colorado Rockies averaged .336. The American League records begin in 1901 with Nap Lajoie of the Philadelphia A’s, who batted .422, and end in 2010 with Josh Hamilton of the Texas Rangers, who batted .359. How can we summarize the information in this data set?

Questions to be answered in your report –

1. Use MS Excel, MINITAB, or another statistical software package to describe the bat- ting averages for the American and National League batting champions. Generate any graphics that may help you in interpreting these data sets.
2. Does one league appear to have a higher percentage of hits than the other? Do the batting averages of one league appear to be more variable than the other?
3. Are there any outliers in either league?
4. Summarize your comparison of the two baseball leagues.

Predict the number of people arrested for drug possession in 2016 and 2017 from the data Year # of People Arrested 2006 1,519,760 2007 1,361,658 2008 1,321,824 2009 1,387,915 2010 1,179,728 2011 1,143,931 2012 1,237,708 2013 1,203,323 2014 982,169 2015 801,560 2016 2017 2018

Question 3

a.
The finance director of Hi-Quality Productions (Hi-Q) is reviewing the working capital management of the company. He is particularly concerned about the laxity in the accounts receivable collection process. The current credit terms of Hi-Q require customers to settle their bills within 30 days, but its customers are taking an average of 60 days to pay their bills. In addition, out of the total sales of $30m per year, the company suffers bad debts of $900,000 per year. The current administration costs for the credit department amounts to $600,000. The cost of fund for Hi-Q is 12% per year and the variable cost ratio is 70%. The finance director is reviewing a proposal which have been suggested to him by his assistant.

Proposal: Offering a discount of 2% for payments within 10 days. It is expected that the sales will increase to $33m per year. It is estimated that 50% of customers will take advantage of the discount, while the average time taken by the remaining customers to settle their bills will remain unchanged. Expand the credit department and apply a strict collection process. It is expected that bad debts will fall to 1% of sales per year and the administration costs will increase by $300,000.

Analyze the proposed changes and recommend the course of action to the finance director.

b.
Clean Electronics is keen to source a customized computer microchip from a single supplier for its laptop computer. Each chip costs $200, and in addition it must pay its supplier a $1,000 setup fee on each order. Further, the minimum order size is 250 units; Clean’s annual usage forecast is 5,000 units; and the carrying cost of this item is estimated to 20% of the average inventory value. You can use the formula for EOQ: .

Required:

(1)   What is the EOQ for the microchips? What are the total inventory costs if the EOQ is ordered?                                  

(2)   Suppose it takes 2 weeks for the supplier to set up production, make, test and deliver the chips. At what inventory level should Clean reorder? (Assume certainty in delivery time and usage, and a 52-week year.)               

(3)   Due to uncertain delivery time and usage, the company carry a 200-unit safety stock to avoid running out of chip. What effect would this have on total inventory costs and what is the new reorder point?                      

(4)   Now suppose Clean’s supplier offers a discount of 1% on orders of 1,000 or more. Should Clean take the discount? Why or why not?              

Stavos Company’s screen Division manufactures a standard screen for high-definition televisions (HDTVs). The cost per screen follows:

*Based on a capacity of 770,000 screens per year.

Part of the Screen Division’s output is sold to outside manufacturers of HDTVs and part is sold to Stavos Company’s Quark Division, which produces an HDTV under its own name. The Screen Division charges $183 per screen for all sales.

The costs, revenue, and net operating income associated with the Quark Division’s HDTV are given below:

*Based on a capacity of 250,000 units per year.

The Quark Division has an order from an overseas source for 5,200 HDTVs. The overseas source wants to pay only $401 per unit.

Required:

1. Assume the Quark Division has enough idle capacity to fill the 5,200-unit order. Is the division likely to accept the $401 price or to reject it?

2. Assume both the Screen Division and the Quark Division have idle capacity. Under these conditions, what is the financial advantage (disadvantage) for the company as a whole (on a per unit basis) if the Quark Division rejects the $401 price?

3. Assume the Quark Division has idle capacity but that the Screen Division is operating at capacity and could sell all of its screens to outside manufacturers. Under these conditions, what is the financial advantage (disadvantage) for the company as a whole (on a per unit basis) if the Quark Division accepts the $401 unit price.

Stavos Company’s screen Division manufactures a standard screen for high-definition televisions (HDTVs). The cost per screen is:

*Based on a capacity of 830,000 screens per year.

Part of the Screen Division’s output is sold to outside manufacturers of HDTVs and part is sold to Stavos Company’s Quark Division, which produces an HDTV under its own name. The Screen Division charges $190 per screen for all sales.

The costs, revenue, and net operating income associated with the Quark Division’s HDTV are given below:

*Based on a capacity of 220,000 units per year.

The Quark Division has an order from an overseas source for 4,500 HDTVs. The overseas source wants to pay only $407 per unit.

Required:

1. Assume the Quark Division has enough idle capacity to fill the 4,500-unit order. Is the division likely to accept the $407 price or to reject it?

2. Assume both the Screen Division and the Quark Division have idle capacity. Under these conditions, what is the financial advantage (disadvantage) for the company as a whole (on a per unit basis) if the Quark Division rejects the $407 price?

3. Assume the Quark Division has idle capacity but that the Screen Division is operating at capacity and could sell all of its screens to outside manufacturers. Under these conditions, what is the financial advantage (disadvantage) for the company as a whole (on a per unit basis) if the Quark Division accepts the $407 unit price.

Blossom Industries Corp. purchased the following assets and also constructed a building. All this was done during the current year.

Assets 1 and 2

These assets were purchased together for $124,000 cash. The following information was gathered:

Asset 3

This machine was acquired by making a $10,200 down payment and issuing a $39,000, two-year, zero-interest-bearing note. The note is to be paid off in two $19,500 instalments made at the end of the first and second years. It was determined that the asset could have been purchased outright for $34,200.

Asset 4

A truck was acquired by trading in an older truck that has the same value in use. The newer truck has options that will make it more comfortable for the driver; however, the company remains in the same economic position after the exchange as before. Facts concerning the trade-in are as follows:

Asset 5

Office equipment was acquired by issuing 160 common shares. The shares are actively traded and had a closing market price a few days before the office equipment was acquired of $10 per share. Alternatively, the office equipment could have been purchased for a cash price of $1,575.

Construction of Building

A building was constructed on land that was purchased on January 1 at a cost of $146,000. Construction began on February 1 and was completed November 1. The payments to the contractor were as follows:

To finance construction of the building, a $617,000, 13% construction loan was taken out on February 1. At the beginning of the project, Blossom invested the portion of the construction loan that was not yet expended and earned investment income of $4,600. The loan was repaid on November 1 when the construction was completed. The firm had $204,000 of other outstanding debt during the year at a borrowing rate of 10% and a $202,000 loan payable outstanding at a borrowing rate of 6%.

(a)

Blossom uses a variety of alternatives to finance its acquisitions. Record the acquisition of each of these assets, assuming that Blossom prepares financial statements in accordance with IFRS. Use the net amount to record the note. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round capitalization rate to 2 decimal places, e.g. 52.75% and final answers to 0 decimal places, e.g. 5,275.)

74.Adhesive proteins of connective tissue: examples, structure and functions.

(please more explanatıon Im medicine student) thank you...

Cane Company manufactures two products called Alpha and Beta that sell for $225 and $175, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 130,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

10. Assume that Cane expects to produce and sell 74,000 Alphas during the current year. A supplier has offered to manufacture and deliver 74,000 Alphas to Cane for a price of $156 per unit. What is the financial advantage (disadvantage) of buying 74,000 units from the supplier instead of making those units?

12. What contribution margin per pound of raw material is earned by each of the two products? (Round your answers to 2 decimal places.)

13. Assume that Cane’s customers would buy a maximum of 99,000 units of Alpha and 79,000 units of Beta. Also assume that the raw material available for production is limited to 344,000 pounds. How many units of each product should Cane produce to maximize its profits?