In: Accounting
In: Advanced Math
Problem: Construct and interpret a 90%, 95%, and 99% confidence interval for the mean heights of either adult females or the average height of adult males living in America. Do not mix genders in your sample as this will skew your results. Gather a random sample of size 30 of heights from your friends, family, church members, strangers, etc. by asking each individual in your sample his or her height. From your raw data convert individual heights to inches. Record your raw data and your conversions in the table on page 2 of this document. Construct and interpret the confidence interval based on the raw data from your random sample. In a word processed document, answer the reflections questions below. Use the equation editor to show your calculations for the percent difference indicated in 6) below.
Reflections: 1) Summarize the characteristics of your sample â how many was in it, who was in it, from where did you get your sample, what would you estimate to be the average age of your sample, etc.?
2) What is x for your sample?
3) What is s for your sample?
3) State and interpret the 90% confidence interval for your sample.
4) State and interpret the 95% confidence interval for your sample.
5) State and interpret the 99% confidence interval for your sample.
6) Research from a credible source the average height in the population as a whole for the group you sampled. Make sure to credit your source. Calculate a percent difference between the average of your sample and the average in the population as a whole. What was the percent difference of the average height in your sample and the population as a whole? Comment on your percent difference.
Table of Raw Data of womens heights
|
Sample Number |
Height in Feet and Inches |
Height Converted to Inches |
|
1 |
5 feet |
60 |
|
2 |
5 feet 3 inches |
63 |
|
3 |
5 feet 5 inches |
65 |
|
4 |
5 feet 5 inches |
65 |
|
5 |
5 feet 9 inches |
69 |
|
6 |
5 feet 11 inches |
71 |
|
7 |
5 feet 1 inch |
61 |
|
8 |
5 feet 2 inches |
62 |
|
9 |
5 feet 3 inches |
63 |
|
10 |
5 feet 6 inches |
66 |
|
11 |
6 feet |
72 |
|
12 |
5 feet 11 inches |
71 |
|
13 |
5 feet 4 inches |
64 |
|
14 |
5 feet 8 inches |
68 |
|
15 |
5 feet 8 inches |
68 |
|
16 |
5 feet 4 inches |
64 |
|
17 |
5 feet 7 inches |
67 |
|
18 |
5 feet 5 inches |
65 |
|
19 |
5 feet 5 inches |
65 |
|
20 |
5 feet 2 inches |
62 |
|
21 |
5 feet 5 inches |
65 |
|
22 |
5 feet 9 inches |
69 |
|
23 |
5 feet 2 inches |
62 |
|
24 |
5 feet 3 inches |
63 |
|
25 |
5 feet 1 inches |
61 |
|
26 |
5 feet 4 inches |
64 |
|
27 |
5 feet 5 inches |
65 |
|
28 |
5 feet 5 inches |
65 |
|
29 |
5 feet 3 inches |
63 |
|
30 |
5 feet 6 inches66 |
66 |
In: Statistics and Probability
Preparation of Individual Budgets
During the first calendar quarter of 2019, Clinton Corporation is planning to manufacture a new product and introduce it in two regions. Market research indicates that sales will be 6,000 units in the urban region at a unit price of $53 and 5,000 units in the rural region at $48 each. Because the sales manager expects the product to catch on, he has asked for production sufficient to generate a 4,000-unit ending inventory. The production manager has furnished the following estimates related to manufacturing costs and operating expenses:
|
Variable |
Fixed |
||||
|---|---|---|---|---|---|
|
(per unit) |
(total) |
||||
| Manufacturing costs: | |||||
| Direct materials | |||||
| A (4 lb. @ $3.15/lb.) | $12.60 | - | |||
| B (2 lb. @ $4.65/lb.) | 9.30 | - | |||
| Direct labor (0.5 hours per unit) | 7.50 | - | |||
| Manufacturing overhead: | |||||
| Depreciation | - | $7,650 | |||
| Factory supplies | 0.90 | 4,500 | |||
| Supervisory salaries | - | 28,800 | |||
| Other | 0.75 | 22,950 | |||
| Operating expenses: | |||||
| Selling: | |||||
| Advertising | - | 22,500 | |||
| Sales salaries& commissions* | 1.50 | 15,000 | |||
| Other* | 0.90 | 3,000 | |||
| Administrative: | |||||
| Office salaries | - | 2,700 | |||
| Supplies | 0.15 | 1,050 | |||
| Other | 0.08 | 1,950 |
*Varies per unit sold, not per unit produced.
a. Assuming that the desired ending inventories of materials A and B are 4,000 and 6,000 pounds, respectively, and that work-in-process inventories are immaterial, prepare budgets for the calendar quarter in which the new product will be introduced for each of the following operating factors:
Do not use negative signs with any of your answers below.
1. Total sales
($Answer)
2. Production
(Answer units)
3. Material purchase cost
| Material A | Material B | ||||
|---|---|---|---|---|---|
| Total pounds (lbs.) required for production | - | - | |||
| Desired ending materials inventory | - | - | |||
| Total pounds to be available | - | - | |||
| Beginning materials inventory | - | - | |||
| Total material to be purchased (lbs.) | - | - | |||
| Total material purchases ($) | - | - |
4. Direct labor costs
($Answer)
5. Manufacturing overhead costs
| Fixed | Variable | Total | |||
|---|---|---|---|---|---|
| Depreciation | - | - | - | ||
| Factory supplies | - | - | - | ||
| Supervisory salaries | - | - | - | ||
| Other | - | - | - | ||
| Total manufacturing overhead | - |
6. Selling and administrative expenses
| Fixed | Variable | Total | |||
|---|---|---|---|---|---|
| Selling expenses: | |||||
| Advertising | - | - | - | ||
| Sales salaries and commissions | - | - | - | ||
| Other | - | - | - | ||
| Total selling expenses | - | ||||
| Administrative expenses: | |||||
| Office salaries | - | - | - | ||
| Supplies | - | - | - | ||
| Other | - | - | - | ||
| Total administrative expenses | - | ||||
| Total selling and administrative expenses | - |
b. Using data generated in requirement (a), prepare a budgeted
income statement for the calendar quarter. Assume an overall
effective income tax rate of 30%.
Round answers to the nearest whole number.
Do not use negative signs with your answers.
| Clinton Corporation Budgeted Income Statement For the Quarter Ended March 31, 2019 |
|||||
|---|---|---|---|---|---|
| Sales | - | ||||
| Cost of Goods Sold: | - | ||||
| Beginning Inventory - Finished Goods | - | ||||
| Material: | - | ||||
| Beginning Inventory - Material | - | ||||
| Material Purchases | - | ||||
| Material Available | - | ||||
| Ending Inventory - Material | - | ||||
| Direct Material | - | ||||
| Direct Labor | - | ||||
| Manufacturing Overhead | - | ||||
| Total Manufacturing Cost | - | ||||
| Cost of Goods Available for Sale | - | ||||
| Ending Inventory - Finished Goods | - | ||||
| Cost of Goods Sold | - | ||||
| Gross Profit | - | ||||
| Operating Expenses: | |||||
| Selling Expenses | - | ||||
| Administrative Expenses | - | ||||
| Total Operating Expenses | - | ||||
| Income before Income Taxes | - | ||||
| Income Tax Expense | - | ||||
| Net Income | - | ||||
the spots with a( - ) in the boxes (not including the ones in the top box with the numbers). or the word Answer (question 1,2,4) is what I need help figuring out can you plans include how you got the answers like the steps to get the answers so I can know how to solve future problems
In: Accounting
Nordstrom Inc. is a Seattle-based department store rivaling the likes of Saks Fifth Avenue, Neiman Marcus, and Bloomingdaleâs. Nordstrom is a Hall of Fame member of Fortune magazineâs â100 Best Companies to Work Forâ list. Nordstrom is known for its quality apparel, upscale environment, and generous employee rewards. However, what Nordstrom is most famous for is its delivery of customer service above and beyond the norms of the retail industry. This service orientation serves as a form of control as it helps employees decide how to behave when they encounter new situations. Stories about Nordstrom service abound. For example, according to one story the company confirms from long ago, in 1975 Nordstrom moved into a new location that had formerly been a tire store. A customer brought a set of tires into the store to return them. Without a word about the mix-up, the tires were accepted, and the customer was fully refunded the purchase price. In a different story, a customer tried on several pairs of shoes but failed to find the right combination of size and color. As she was about to leave, the clerk called other Nordstrom stores but could only locate the right pair at Macyâs, a nearby competitor. The clerk had Macyâs ship the shoes to the customerâs home at Nordstromâs expense. In a third story, a customer describes wandering into a Portland, Oregon, Nordstrom looking for an Armani tuxedo for his daughterâs wedding. The sales associate took his measurements just in case one was found. The next day, the customer got a phone call, informing him that the tux was available. When pressed, the associate revealed that using her connections she found one in New York, had it put on a truck destined to Chicago, and dispatched someone to meet the truck in Chicago at a rest stop. The next day she shipped the tux to the customerâs address, and the customer found that the tux had already been altered for his measurements and was ready to wear. What is even more impressive about this story is that Nordstrom does not sell Armani tuxedos.
How does Nordstrom persist in creating these stories that serve as a way to control and direct employee behavior? If you guessed that they have a large number of rules and regulations designed to emphasize quality in customer service, youâd be wrong. In fact, the company gives employees a 5½-inch by 7½-inch card as the employee handbook. On one side of the card, the company welcomes employees to Nordstrom and states that their number one goal is to provide outstanding customer service, and for this they have only one rule. On the other side of the card, the single rule is stated: âUse good judgment in all situations.â By leaving it in the hands of Nordstrom associates, the company seems to have empowered employees who deliver customer service heroics every day.
1. The controlling facet of the P-O-L-C framework introduces you to a variety of controls. What types of controls does Nordstrom seem to effectively incorporate into their operations?
2. Does Nordstrom use behavioral controls? What are some examples?
3. Does Nordstrom use outcome controls? What are some examples?
4. What suggestions would you give Nordstrom for maintaining and evolving the organizational culture that has contributed to its success?
5. What balanced scorecard elements does Nordstrom seem to view as most important?
In: Finance
Bamboo Consulting is a consulting firm owned and operated by Lisa Gooch. The following end-of-period spreadsheet was prepared for the year ended July 31, 2019:
| Bamboo Consulting | ||||||
| End-of-Period Spreadsheet | ||||||
| For the Year Ended July 31, 2019 | ||||||
| Unadjusted Trial Balance | Adjustments | Adjusted Trial Balance | ||||
| Account Title | Dr. | Cr. | Dr. | Cr. | Dr. | Cr. |
| Cash | 57,100 | 57,100 | ||||
| Accounts Receivable | 108,200 | 108,200 | ||||
| Supplies | 12,200 | (a) 6,300 | 5,900 | |||
| Office Equipment | 518,000 | 518,000 | ||||
| Accumulated Depreciation | 28,500 | (b) 6,900 | 35,400 | |||
| Accounts Payable | 21,100 | 21,100 | ||||
| Salaries Payable | (c) 2,300 | 2,300 | ||||
| Lisa Gooch, Capital | 521,800 | 521,800 | ||||
| Lisa Gooch, Drawing | 25,000 | 25,000 | ||||
| Fees Earned | 347,400 | 347,400 | ||||
| Salary Expense | 186,600 | (c) 2,300 | 188,900 | |||
| Supplies Expense | (a) 6,300 | 6,300 | ||||
| Depreciation Expense | (b) 6,900 | 6,900 | ||||
| Miscellaneous Expense | 11,700 | 11,700 | ||||
| 918,800 | 918,800 | 15,500 | 15,500 | 928,000 | 928,000 | |
|
Based on the preceding spreadsheet, prepare an income statement, statement of ownerâs equity, and balance sheet for Bamboo Consulting. Be sure to read the instructions for each financial statement carefully. CHART OF ACCOUNTSBamboo ConsultingGeneral Ledger
|
|||||||||||||||||||||||||||||||||||||||||||||||
|
Prepare an income statement for the year ended July 31, 2019 for Bamboo Consulting. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.
Prepare a statement of ownerâs equity for the year ended July 31, 2019 for Bamboo Consulting. No additional investments were made during the year. For those boxes in which you must enter subtractive or negative numbers use a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items.
Prepare a balance sheet as of July 31, 2019 for Bamboo Consulting. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) or the word "Less" on the balance sheet; they will automatically insert where necessary.
In: Accounting
Who are the illegal miners in South Africa? They are often illegal immigrants, largely from Zimbabwe, Mozambique, Lesotho or other central and southern African nations that come to South Africa in search of striking it rich, or at the very least, making a decent living. In South Africa, the illegal miners are often referred to as the Zama Zamas, a term that means âtrying your luckâ. These immigrants come to South Africa to earn a living with the hopes of remitting earnings back to their families in their respective homelands.Some illegal miners are South Africans who view illegal mining as a dangerous, albeit potentially remunerative activity. Some of the South African illegal miners can be described as âlegal miners by day, yet illegal by night.â In other words, they might be gainfully employed by a mining firm and work legitimately for the company during the day shift, but re-enter the mine when evening falls to bolster their income. These individuals are particularly useful to a group of illegal miners given their familiarity with the mine and its risks. It is also quite possible that the South African illegal miners are unemployed mineworkers that were previously laid off by the mining companies when they were forced to retrench as a result of increasing global competitive pressures. Alternatively, illegal mineworkers may simply be young, black South Africans (without any previous mining experience) seeking a living in a nation that has struggled to reach its potential in the post-apartheid era and where one out of four South Africans is unemployed.Regardless of the nationality or the motivations that landed the illegal miners in this role, one thing is certain: it is not an easy life. Illegal miners may break into the very mines they work in by day, or often work in abandoned or disused mine shafts. (Disused mine shafts are mines that legitimate mining companies are in the process of closing down because they are no longer economically viable, but where the firms are awaiting final permits issued by the government to âofficiallyâ close the mine. Mining companies complain that all too frequently, the government-issued permit is delayed for months, thus exacerbating the illegal mining problem.) The miners often align themselves with a group of miners united in their illegal search of striking it rich. There is power in numbers. Being part of a group offers protection from rival factions of illegal mine workers, and fosters some level of camaraderie as the freelance miners âwatch overâ one another. Since illegal miners are typically not employees of any business, nor members of any union and often times, not even citizens of South Africa, it can be said, that if it wasnât for these informal groups, the miners would have no one else with even an ounce of their interests in mind. The groups generally work for a leader (a âkingpinâ) who organizes runners to bring food and drinks to them, while the âminersâ stay underground, some times for days â and even months - at a time. Illegal miners often run the risk of falling prey to other serious crimes. Illegal minersâ lives have been threatened - and lost - when they have refused to relinquish the deftly collected gold particles in their possession to thieves. Deaths, however, often go unreported, and as a result, there is no way of knowing how many illegal miners lose their lives each year. Only when there is a more visible event â such as a fire that went out of control in an abandoned mineshaft in 2009, killing 76 people, is a light shed on the plight and the working conditions of these workers.
**Word limit 2000-3000 words**
In: Economics
This assignment features an exponential function that is closely related to Mooreâs Law, which states that the numbers of transistors per square inch in Central Processing Unit (CPU) chips will double every 2 years. This law was named after Dr. Gordon Moore.
Table 1 below shows selected CPUs from this leading processor company introduced between the years 1982 and 2008 in relation to their corresponding processor speeds of Million Instructions per Second (MIPS).
Table 1: Selected CPUs with corresponding speed ratings in MIPS.
Processor Year t Years After 1982 When Introduced Million Instructions per Second (MIPS)
4 1982 0 1.28
5 1985 3 2.15
6 1989 7 8.7
7 1992 10 25.6
8 1994 12 188
9 1996 14 541
10 1999 17 2,064
11 2003 21 9,726
12 2006 24 27,079
13 2008 26 59,455
(Instructions per second, n.d.) This information can be mathematically modeled by the exponential function:
MIPS(t) = (0.112)(1.405^(1.14t+9.12))
NOTE: This function is created as a âbest fitâ function for a table of empirical data and, therefore, does not exactly match many (or any) of the data values in the table above. Rather, the total cumulative differences from all of the data points is at a minimum for this function.
Be sure to show your work details for all calculations and explain in detail how the answers were determined for critical thinking questions. Round all value answers to three decimals.
Generate a graph of this function, MIPS(t) = (0.112)(1.405^(1.14t+9.12)), t years after 1982, using Excel or another graphing utility. (There are free downloadable programs like Graph 4.4.2 or Mathematics 4.0; or, there are also online utilities such as this site and many others.) Insert the graph into your Word document that contains all of your work details and answers. Be sure to label and number the axes appropriately. (Note: Some graphing utilities require that the independent variable must be âxâ instead of âtâ.)
Find the derivative of MIPS(t) with respect to t. Show your work details.
Choose a t-value between 10 and 26. Calculate the value of MIPS'(t). Show your work details.
Interpret the meaning of the derivative value that you just calculated from part 3 in terms of the MIPS(t) function and this scenario.
If the MIPS(t) function is reasonably accurate, for what value of t will the rate of increase in MIPS per year reach 6,000,000 MIPS? Approximately which year does that correspond to? Show your work details.
For the t-value you chose in part 3 above, find the equation of the tangent line to the graph of MIPS(t) at that value of t. What information about the MIPS(t) function can be obtained from the tangent line? Show your work details.
Using Web or Library resources research to find the years of introduction and the processor speeds for both the CPU A and the CPU B. Be sure to cite your creditable resources for these answers. Convert the years introduced to correct values of t by subtracting 1982 from each year. Then, determine how well the MIPS(t) function predicts the forecast CPUsâ processor speeds by comparing the calculated values with the actual MIPS ratings of these two CPUs. Show your work details.
In: Statistics and Probability
Redstone Clayworks, Inc. is located in Sedona, Arizona and
manufactures clay fire pits for patios. They are one of about two
dozen firms around the world that manufacture and sell clay fire
pits for retailers such as Home Depot, Loweâs, Front Gate, and
other upscale home product chains. There is virtually no product
differentiation. A clay fire pit is a clay fire pit.
Assume that the world market demand and supply curves for clay fire pots intersects at $300 per unit.
The spreadsheet below gives some of Redstoneâs production cost data. A template for the spreadsheet is provided in the Course Materials.
|
Q |
TC |
TFC |
TVC |
|
0 |
6,000 |
6,000 |
- |
|
100 |
12,000 |
6,000 |
6,000 |
|
200 |
15,000 |
6,000 |
9,000 |
|
300 |
21,000 |
6,000 |
15,000 |
|
400 |
33,000 |
6,000 |
27,000 |
|
500 |
48,000 |
6,000 |
42,000 |
|
600 |
65,000 |
6,000 |
59,000 |
|
700 |
83,000 |
6,000 |
77,000 |
|
800 |
102,000 |
6,000 |
96,000 |
|
900 |
123,000 |
6,000 |
117,000 |
|
1000 |
158,000 |
6,000 |
152,000 |
Add columns to show, respectively, average fixed cost (AFC), average variable cost (AVC), average total cost (ATC), and short-run marginal cost (SMC). Then, add columns to show, respectively, total revenue (TR), marginal revenue (MR), total profit, average profit, and profit margin.
Place your completed spreadsheet in the Drop Box,and use it to
answer questions 1-7. Your spreadsheet and calculations are worth
15 points and count as 500 words toward your word count
requirement.
Your spreadsheet must include formulas showing how you arrived at the calculations. As an alternative, you may also submit a document showing your step-by-step calculations for each of the cells. You will not receive credit if you do not show your work using one of these two methods.
For Questions 2, 4, and 5, be sure to employ both of the General Rules for Implementing the Output Decision in your explanations.
A detailed explanation should be given for each question.
1. If Redstone wishes to maximize profit margin, how many units should it produce?
2. What level of output should the manager of Redstone choose to produce? Explain your choice in at least 100 words.
3. Are your output choices the same in questions 1 and 2? Why or why not? Explain using at least 100 words.
4. Make a copy of your spreadsheet and double the fixed costs. How does this change your answer to question 2? Explain in detail.
5. Make another copy of your spreadsheet and suppose that fire pits fall out of fashion causing prices fall worldwide to $85. How many units should the manager choose to produce? Explain.
6. Should the firm shut down in the short-run? Explain in detail why or why not.
7. Should the firm shut down in the long run? Explain in detail why or why not.
8. Airline industry experts generally believe that because of the "highly competitive" nature of U.S. airline markets, it is usually impossible to pass on higher jet fuel prices to passengers by raising ticket prices.
What factors do you suppose contribute to making U.S. airline markets "highly competitive"?
Accepting the premise that U.S. airline markets are indeed highly competitive, analyze in both the short run and long run the difficulty of raising ticket prices when jet fuel prices rise.
In: Economics
Thurston Howell IV is the sole heir to the Howell Enterprise fortune. He does not participate in the business, preferring to tend to his comic book collection. He does however own a large piece of the company.
Recently he had become concerned about how the company has performed specifically related to some transactions relating to stockholdersâ equity.
Here is the data relating to stockholdersâ equity:
Howell Enterprises
Stockholdersâ Equity
As of December 31, 2019
Common Stock, 2,000,000 shares outstanding 10,000,000
Retained Earnings 7,500,000
Total Stockholders Equity 17,500,000
Thurston currently owns 300,000 shares of Howell Enterprises
Here are the relevant transactions for 2020:
Required
Record the transactions for 2020 and calculate the ending balances in all of the stockholders equity accounts.
|
Trans |
Accounts |
Debit |
Credit |
|
Ending Balances |
|
|
Common Stock |
|
|
Retained Earnings |
|
|
Treasury Stock |
|
|
Total Equity |
|
|
# of Shares Outstanding |
|
|
Book Value Per Share |
Mr. Howellâs Investment
|
Before Transactions |
After Transactions |
|
|
Book Value Per Share |
||
|
Total Value of Stock |
||
|
% of Company Owned |
Turn in the summary with this page
Bonds Problem
Hartz Corporation had the following transactions relating to borrowings during 2020:
Required
|
Bond A |
Bond B |
Bond C |
|
|
Proceeds From Issuing Bond |
|||
|
Cash Paid on Interest Date |
|||
|
Interest Expense on Interest Date |
In: Accounting