Gallatin Carpet Cleaning is a small, family-owned business operating out of, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $22.70 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below: Activity Cost Pool Activity Measure Activity for the Year Cleaning carpets Square feet cleaned (00s) 12,000 hundred square feet Travel to jobs Miles driven 199,500 miles Job support Number of jobs 1,900 jobs Other (organization-sustaining costs and idle capacity costs) None Not applicable The total cost of operating the company for the year is $351,000 which includes the following costs: Wages $ 136,000 Cleaning supplies 22,000 Cleaning equipment depreciation 8,000 Vehicle expenses 33,000 Office expenses 69,000 President’s compensation 83,000 Total cost $ 351,000 Resource consumption is distributed across the activities as follows: Distribution of Resource Consumption Across Activities Cleaning Carpets Travel to Jobs Job Support Other Total Wages 80 % 13 % 0 % 7 % 100 % Cleaning supplies 100 % 0 % 0 % 0 % 100 % Cleaning equipment depreciation 73 % 0 % 0 % 27 % 100 % Vehicle expenses 0 % 77 % 0 % 23 % 100 % Office expenses 0 % 0 % 58 % 42 % 100 % President’s compensation 0 % 0 % 30 % 70 % 100 % Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on. Required: 1. Prepare the first-stage allocation of costs to the activity cost pools. 2. Compute the activity rates for the activity cost pools. 3. The company recently completed a 800 square foot carpet-cleaning job at the Flying N Ranch—a 51-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system. 4. The revenue from the Flying N Ranch was $181.60 (800 square feet @ $22.70 per hundred square feet). Calculate the customer margin earned on this job.

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $22.35 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below:

The total cost of operating the company for the year is $346,000 which includes the following costs:

Resource consumption is distributed across the activities as follows:

Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on.

Required:

1. Prepare the first-stage allocation of costs to the activity cost pools.

2. Compute the activity rates for the activity cost pools.

3. The company recently completed a 600 square foot carpet-cleaning job at the Flying N Ranch—a 57-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system.

4. The revenue from the Flying N Ranch was $134.10 (600 square feet @ $22.35 per hundred square feet). Calculate the customer margin earned on this job.

Hello. Please answer all my all questions.

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $23.95 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below:

The total cost of operating the company for the year is $351,000 which includes the following costs:

Resource consumption is distributed across the activities as follows:

Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on.

Required:

1. Prepare the first-stage allocation of costs to the activity cost pools.
2. Compute the activity rates for the activity cost pools.
3. The company recently completed a 400 square foot carpet-cleaning job at the Flying N Ranch—a 51-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system.
4. The revenue from the Flying N Ranch was $95.80 (400 square feet @ $23.95 per hundred square feet). Calculate the customer margin earned on this job.

Economics of Hedging with Futures

Great Lakes Distributors buys 100,000 bushels of soybean futures at $9.95 per bushel, to cover a commitment to deliver 100,000 bushels of soybeans to a customer in 60 days at a price of $10.25 per bushel. No margin deposit is required. Spot and futures prices for soybeans are equal and fluctuate between $9.50 and $10.40 per bushel. On the day of delivery to the customer, Great Lakes closes its futures position and buys soybeans in the spot market to fulfill its agreement with the customer.

Required

a. Calculate the cost per bushel to Great Lakes if the spot price at the time of purchase is $9.50.

$Answer per bushel

Calculate the cost per bushel if the spot price is $10.40.

$Answer per bushel

b. Prepare the entries Great Lakes makes to record the above events if the spot price is $10.20 per bushel on the day the futures contract is closed, Great Lakes buys the soybeans on the spot market, and delivers them to the customer. The futures position qualifies as a fair value hedge of the firm commitment to sell soybeans to the customer. Great Lakes records income effects of these transactions in cost of goods sold.

Please answer all parts of the question.

Suppose the preliteracy scores of three-year-old students in the United States are normally distributed. Shelia, a preschool teacher, wants to estimate the mean score on preliteracy tests for the population of three-year-olds. She draws a simple random sample of 20 students from her class of three-year-olds and records their preliteracy scores (in points).

80,81,89,90,91,91,91,94,95,95,95,101,101,102,102,104,104,108,109,11180,81,89,90,91,91,91,94,95,95,95,101,101,102,102,104,104,108,109,111

Click to download the data in your preferred format.  

CrunchIt!    CSV   Excel   JMP   Mac Text    Minitab   PC Text   R   SPSS   TI Calc  

Calculate the sample mean (?⎯⎯⎯x¯), sample standard deviation (?s), and standard error (SE) of the students' scores. Round your answers to four decimal places.

Determine the ?t-critical value (?t) and margin of error (?m) for a 90% confidence interval. Round your answers to three decimal places.

What are the lower and upper limits of a 90% confidence interval? Round your answers to three decimal places.

?⎯⎯⎯=x¯=

?=s=

?t =

SE=SE=

?m =

lower limit:

upper limit:

Which is the correct interpretation of the confidence interval?

There is a 90% chance that the population mean is between 93.350 points and 100.050 points.

Shelia is 90% confident that the true population mean is between 93.350 points and 100.050 points.

Shelia is 90% confident that the true population mean is between 95.513 points and 99.887 points.

Shelia is certain that the true population mean is between 93.350 points and 100.050 points.

There is a 90% chance that the true population mean is between 95.513 points and 99.887 points.

The New York City Department of Health and Mental Hygiene conducts regular inspections of restaurants. Each restaurant receives an inspection score, with lower scores indicating a more satisfactory inspection. Following are the scores for the most recent inspection for random samples of 25 restaurants in the boroughs of Manhattan and Queens.

Manhattan: 2, 22, 23, 0, 40, 12, 37, 43, 27, 15, 24, 8, 38, 4, 17, 21, 11, 18, 13, 30, 27, 19, 38, 21, 4

Queens: 27, 18, 14, 20, 35, 8, 42, 29, 0, 12, 25, 0, 19, 6, 13, 22, 5, 11, 0, 10, 19, 39, 2, 8, 19

Using a significance level of 0.05, can you conclude a significant difference in mean inspection scores between the two boroughs?

a. State whether the test is

i)          a two-sample t-test (independent samples)

ii)        a matched pairs

iii)       a two sample proportion test

b. Write H0 and H1

c. Using Minitab, list

• the test statistic
• the p-value
• your conclusion: reject H0 or do not reject H0. Note: if α is not provided, use a 0.05 significance level

d.   Write a sentence that explains your conclusion in context with the claim. Include the significance level and p-value in this sentence.

e.   Copy and paste the relevant Minitab output into the document. Answers alone are sufficient, you do not need to copy the exercise into the document.

Research on the relationship between the participants’ depression score and weight. The researcher believes that a person’s weight may affect their level of depression. Create a simple linear regression model (including the y-intercept), where depression score is the dependent variable and weight is the independent variable. Use your simple linear regression model to answer the following questions with α = 0.05.

• Predict the depression score for a person that weighs 185 lbs.

• Estimate the average depression score for people that weigh 220 lbs.

• What is the correlation coefficient?

• Does the y-intercept need to be included in the model? Circle/highlight your answer.

yes or no

Explain your reasoning.

1. In perfect competition, the price of the product is determined where the market

2.

At the profit-maximizing level of output for a perfectly competitive firm, price equals marginal cost. Which of the following is also true?

3.

In perfect competition, the marginal revenue of an individual firm

4.

In a perfectly competitive market, if a firm finds it is producing an amount of output such that its marginal cost exceeds its price, it will

A suburban hotel derives its revenue from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied.