In: Finance
Falling Bodies. In the simplest model of the motion of a falling body, the velocity increases in proportion to the increase in the time that the body has been falling. If the velocity is given in feet per second, measurements show the constant of proportionality is approximately
32. a) A ball is falling at a velocity of 40 feet/sec after 1 second. How fast is it falling after 3 seconds?
b) Express the change in the ball’s velocity ∆v as a linear function of the change in time ∆t.
c) Express v as a linear function of t. The model can be expanded to keep track of the distance that the body has fallen. If the distance d is measured in feet, the units of d ′ are feet per second; in fact, d ′ = v. So the model describing the motion of the body is given by the rate equations d ′ = v feet per second; v ′ = 32 feet per second per second.
d) At what rate is the distance increasing after 1 second? After 2 seconds? After 3 seconds?
e) Is d a linear function of t? Explain your answer.
In: Physics
You are planning to conduct a study to determine whether the average age of the residents of Ashland, OR is at least 55.6 years. What is the most appropriate test for conducting the test?
One population mean test
Two population means test
One-way ANOVA
Two-way ANOVA with Replication
Chi-square Goodness of Fit Test
Chi-square Test for Independence
Regression and Correlation Analysis
A market research firm is testing consumer reaction to a new shampoo among age groups in four regions. There are five consumers in each test panel. Each consumer completes a 10-question product satisfaction instrument with a 5-point scale (five is the highest rating) and the average score is recorded. Generate the appropriate outputs and perform the appropriate statistical tests to answer the questions below.
17.Which of the 4 age groups shows the lowest average satisfaction rating for the shampoo?
a.Youth
b.College
c.Adult
d.Senior
e.None – all show the same average satisfaction level per ANOVA test
18.Which of the 4 age groups gives the highest average satisfaction rating for the shampoo?
a.Youth
b.College
c.Adult
d.Senior
e.None – all show the same average satisfaction level per ANOVA test
19.At significance level 0.05, is there a difference in the satisfaction rating of the shampoo by the consumers of the different regions?
a)Yes b) No
20.hich of the 4 regions shows the lowest average satisfaction rating for the shampoo?
a Northeast
b Southeast
c Midwest
d West
e None – all show the same average satisfaction level per ANOVA test
21.Which of the 4 regions shows the highest average satisfaction rating for the shampoo?
a Northeast
b Southeast
c Midwest
d West
e None – all show the same average satisfaction level per ANOVA test
|
Northeast |
Southeast |
Midwest |
West |
||||
|
Youth |
3.9 4.0 3.7 4.1 4.3 |
3.9 4.2 4.4 4.1 4.0 |
3.6 3.9 3.9 3.7 3.3 |
3.9 4.4 4.0 4.1 3.9 |
|||
|
College |
4.0 4.0 3.7 3.8 3.8 |
3.8 3.7 3.7 3.6 3.7 |
3.6 4.1 3.8 3.9 4.0 |
3.8 3.8 3.6 3.6 4.1 |
|||
|
Adult |
3.2 3.8 3.7 3.4 3.4 |
3.5 3.3 3.4 3.5 3.4 |
3.5 3.8 3.8 4.0 3.7 |
3.8 3.6 3.4 3.7 3.1 |
|||
|
Senior |
3.4 2.9 3.6 3.7 3.5 |
3.6 3.4 3.6 3.6 3.4 |
3.3 3.3 3.1 3.1 3.1 |
3.4 3.2 3.5 3.3 3.4 |
|||
In: Statistics and Probability
Flatiron Corp has the following budgeted sales in each quarter of the year 2020:
Expected Sales
Q1 $ 300,000
Q2 $ 320,000
Q3 $ 340,000
Q4 $ 360,000
Cash collection information are as follows:
1. Of all sales, 80% are on credit.
2. For the credit sales made in the year 2020; 60% of credit sales are collected in the quarter in which the sale is made; 30% are collected in the following quarter; and 10% are collected in the second quarter after sale.
3. Accounts Receivable is estimated to be $60,000 on December 31,2019. The company expects to collect all outstanding receivable in the first quarter of 2020.
What is the total cash collection for the first quarter of 2020?
In: Accounting
You have been hired as an outside consultant for a large durable medical equipment and medical supply company. The company specializes in a wide range of medical supplies and equipment. Some of its most profitable offerings include hospital bed rental to private residents, wheelchairs, walkers, scooter and other mobility equipment. However, they have come to realize that competition is increasing and market share is getting tight. They note that most of their customers are new costumers and very few are repeat customers. They are concerned with customer loyalty. The medical supply company owner has asked you to train develop a plan to improve customer loyalty and train the staff.
Create a report that describes and critically analyzes at least 5 contemporary best practices to improve customer loyalty in a health care organization.
In: Nursing
The first budget is to be for the second quarter of the current year (April, May and June). To assist in developing the budget figures, the divisional controller has accumulated the following information.
Sales: Sales through the first three months of the current year were 30,000 units. Actual sales in units for January, February, and March, and planned sales in units over the next five months, are given below:
January (actual) 6,000
February (actual) 10,000
March (actual) 14,000
April (planned) 20,000
May (planned) 34,000
June (planned) 51,000
July (planned) 45,000
August (planned) 30,000
In total, the East Division expects to produce and sell 250,000 units during the current year.
Direct Material: Two different materials are used in production of the component. Data regarding these materials are given below:
Material 208:
Materials per Finished Component: 4 pounds
Cost per pound: $5.00
Inventory at March 13: 46,000 pounds
Material 311:
Materials per Finished Component: 9 feet
Cost per foot: $2.00
Inventory at March 31: 69,000 feet
Material No. 208 is sometimes in short supply. Therefore, the East Division requires that enough of the material be on hand at the end of each month to provide for 50% of the following month’s production needs. Material No. 311 is easier to get, so only one-third of the following month’s production needs must be on hand at the end of each month.
Direct Labor: The East Division has three department through which the components must past before they are completed. Information relating to direct labor in these departments is given below:
Department: Shaping
Direct Labor Hours per Finished Component: .25
Cost per Direct Labor Hour: $18.00
Department: Assembly
Direct Labor Hours per Finished Component: .70
Cost per Direct Labor Hour: $16.00
Department: Finishing
Direct Labor Hours per Finished Component: .10
Cost per Direct Labor Hour: $20.00
Direct labor is adjusted to the workload each month.
Manufacturing Overhead: East Division manufactured 32,000 components during the first three months of the current year. The actual variable overhead costs incurred during this three-month period are shown below. Each Division’s controller believes that the variable overhead costs incurred during the last nine months of the year will be at the same rate per component as experienced during the first three months.
Utilities $57,000
Indirect Labor $31,000
Supplies $16,000
Other $8,000
Total variable overhead $112,000
The East Division has planned fixed manufacturing overhead costs for the entire year as follows:
Supervision $872,000
Property Taxes $143,000
Depreciation $2,910,000
Insurance $631,000
Other $72,000
Total fixed manufacturing
Overhead $4,628,000
Finished Goods Inventory: The desired monthly ending inventory of completed components is 20% of the next month’s estimated sales. The East Division has 4,000 units in the finished goods inventory on March 31.
Selling and Administrative Expenses: Selling and Administrative Expenses are budgeted at $400,000 per month plus 1% of total credit sales for the month.
I NEED MANUFACTURING OVERHEAD BUDGET
CASH BUDGET SALES BUDGET S CHEDULE OF EXPECTED CASH COLLECTIONS
In: Accounting
The first budget is to be for the second quarter of the current year (April, May and June). To assist in developing the budget figures, the divisional controller has accumulated the following information.
Sales: Sales through the first three months of the current year were 30,000 units. Actual sales in units for January, February, and March, and planned sales in units over the next five months, are given below:
January (actual) 6,000
February (actual) 10,000
March (actual) 14,000
April (planned) 20,000
May (planned) 34,000
June (planned) 51,000
July (planned) 45,000
August (planned) 30,000
In total, the East Division expects to produce and sell 250,000 units during the current year.
Direct Material: Two different materials are used in production of the component. Data regarding these materials are given below:
Material 208:
Materials per Finished Component: 4 pounds
Cost per pound: $5.00
Inventory at March 13: 46,000 pounds
Material 311:
Materials per Finished Component: 9 feet
Cost per foot: $2.00
Inventory at March 31: 69,000 feet
Material No. 208 is sometimes in short supply. Therefore, the East Division requires that enough of the material be on hand at the end of each month to provide for 50% of the following month’s production needs. Material No. 311 is easier to get, so only one-third of the following month’s production needs must be on hand at the end of each month.
Direct Labor: The East Division has three department through which the components must past before they are completed. Information relating to direct labor in these departments is given below:
Department: Shaping
Direct Labor Hours per Finished Component: .25
Cost per Direct Labor Hour: $18.00
Department: Assembly
Direct Labor Hours per Finished Component: .70
Cost per Direct Labor Hour: $16.00
Department: Finishing
Direct Labor Hours per Finished Component: .10
Cost per Direct Labor Hour: $20.00
Direct labor is adjusted to the workload each month.
Manufacturing Overhead: East Division manufactured 32,000 components during the first three months of the current year. The actual variable overhead costs incurred during this three-month period are shown below. Each Division’s controller believes that the variable overhead costs incurred during the last nine months of the year will be at the same rate per component as experienced during the first three months.
Utilities $57,000
Indirect Labor $31,000
Supplies $16,000
Other $8,000
Total variable overhead $112,000
The East Division has planned fixed manufacturing overhead costs for the entire year as follows:
Supervision $872,000
Property Taxes $143,000
Depreciation $2,910,000
Insurance $631,000
Other $72,000
Total fixed manufacturing
Overhead $4,628,000
Finished Goods Inventory: The desired monthly ending inventory of completed components is 20% of the next month’s estimated sales. The East Division has 4,000 units in the finished goods inventory on March 31.
Selling and Administrative Expenses: Selling and Administrative Expenses are budgeted at $400,000 per month plus 1% of total credit sales for the month.
I NEED MANUFACTURING OVERHEAD BUDGET
CASH BUDGET SALES BUDGET S CHEDULE OF EXPECTED CASH COLLECTIONS
In: Accounting
. Prepare a cash budget for January through March and for the first quarter in total. The company maintains a minimum cash balance of $70,000, and this was the balance in the cash account on January 1st. Other expenses include $35,000 per month for rent, $24,000 per month for advertising, and $66,000 per month for depreciation. In addition, variable Selling & Administrative cost is $12 per unit sold, and the company paid a $20,000 dividend in February.
The company has an
open line of credit with a bank and can borrow at an annual rate of
12%.
For simplification assume that all loans are made at the beginning
of the month when borrowing is needed, and repayments are made at
the end of a month if there is enough cash to make the payment.
Also, interest associated with a loan is only paid at the time when
that loan or a portion thereof is paid. Additionally, all loans and
repayments (not the interest portion) can only be made in
increments of $1000 and the company would like to pay its debts, or
a portion thereof, as soon as it has enough cash to do so.
| Quarter 1 | |||||||
| January | February | March | Total | ||||
| Budgeted units sales | 70,000 | 100,000 | 60,000 | 230,000 | |||
| Variable selling and administrative expense per unit | $ - | $ - | $ - | ||||
| Total variable selling and administrative expense | $ - | ||||||
| Fixed selling and administrative expenses | |||||||
| Advertising | |||||||
| Rent | |||||||
| Depreciation | |||||||
| Total fixed selling and administrative expenses | |||||||
| Total selling and administrative expenses | |||||||
| Less depreciation | |||||||
| Cash disbursements for selling and administrative expenses | $ - | $ - | $ - | $ - | |||
In: Accounting
| For the first quarter of 2017, do the following. | |||||||||||||
| (a) Prepare a sales budget. This is similar to Illustration 21-3 on page 1088 of your textbook. | |||||||||||||
| (b) Prepare a production budget. This is similar to Illustration 21-5 on page 1089 of your textbook. | |||||||||||||
| (c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to Illustration 21-7 on page 1091 of your textbook. | |||||||||||||
| (d) Prepare a direct labor budget. (For calculations, round to the nearest hour.) This is similar to Illustration 21-9 on page 1094 of your textbook. | |||||||||||||
| (e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dollar.) This is similar to Illustration 21-10 on page 1094 of your textbook. | |||||||||||||
| (f) Prepare a selling and administrative budget. This is similar to Illustration 21-11 on page 1095 of your textbook. | |||||||||||||
| (g) Prepare a budgeted income statement. (Round intermediate calculations to the nearest dollar.) This is similar to Illustration 21-13 on page 1096 of your textbook. | |||||||||||||
| (h) Prepare a cash budget. This is similar to Illustration 21-17 on page 1100 of your textbook. | |||||||||||||
| (You will need to prepare schedules for expected collections from customers and expected payments to vendors first. See Illustrations 21-15 and 21-16 on page 1099 of your textbook for guidance.) | |||||||||||||
| Rules: | |||||||||||||
| * Use Excel's functionality to your benefit. Points are lost for lack of formula. | |||||||||||||
| * Use proper formats for schedules, following the referenced textbook examples. | |||||||||||||
| * Use dollar-signs and underscores where appropriate. | |||||||||||||
| * Double-check your work! Verify your formula and logic! | |||||||||||||
| Grading Guidelines: | |||||||||||||
| Effective Use of Excel | 40% | ||||||||||||
| Facts, Logic | 20% | ||||||||||||
| Completeness | 30% | ||||||||||||
| Spelling, Punctuation, Value Format | 10% | ||||||||||||
| Serious Business, Inc. | |||||||
| The company is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year. The following information has been gathered from their managers. | |||||||
| Sales Information | |||||||
| Period | Units | ||||||
| November | 108,000 | Actual | Grading guidelines are on the instructions tab. | ||||
| December | 97,000 | Actual | |||||
| January | 106,000 | Planned | |||||
| February | 107,000 | Planned | |||||
| March | 109,000 | Planned | |||||
| April | 119,000 | Planned | |||||
| May | 130,000 | Planned | |||||
| Unit selling price | $ 12.00 | ||||||
| Finished Goods Inventory Planning | |||||||
| The company likes to keep 10% of the next month’s unit sales in finished goods ending inventory. | |||||||
| Accounts Receivable & Collections | |||||||
| Sales on Account | 100% | ||||||
| Collections Activity | |||||||
| Month of Sale | 75% | ||||||
| Month after Sale | 25% | ||||||
| Balance at 12/31/16 | $ 185,000.00 | ||||||
| Materials Inventory Costs & Planning | |||||||
| Direct Materials | Amount Used per Unit | Cost | |||||
| Metal | 2 | lb | $ 1.00 | lb | |||
| The company likes to keep 5% of the material needed for the next month's production in raw materials ending inventory. | |||||||
| Accounts Payable & Disbursements | |||||||
| Purchases on Account | 100% | ||||||
| Payment Activity | |||||||
| Month of Purchase | 45% | ||||||
| Month after Purchase | 55% | ||||||
| Balance at 12/31/16 | $ 120,000 | ||||||
| Direct Labor & Costs | |||||||
| Time per Unit Production | 15 | minutes | |||||
| Pay Rate/Hour | $ 6.00 | ||||||
| Manufacturing Overhead Costs | |||||||
| Variable costs per direct labor hour | |||||||
| Indirect materials | $ 0.20 | ||||||
| Indirect labor | 0.40 | ||||||
| Utilities | 0.45 | ||||||
| Maintenance | 0.25 | ||||||
| Fixed costs per month | |||||||
| Salaries | $ 42,000 | ||||||
| Depreciation | 16,800 | ||||||
| Property taxes | 2,675 | ||||||
| Insurance | 1,200 | ||||||
| Janitorial | 1,300 | ||||||
| Selling and Administrative Costs | |||||||
| Variable costs per unit sold | $ 1.30 | ||||||
| Fixed costs per month | |||||||
| Advertising | $ 15,000 | ||||||
| Insurance | 14,000 | ||||||
| Salaries | 72,000 | ||||||
| Depreciation | 25,000 | ||||||
| Other fixed costs | 3,000 | ||||||
| Income Taxes | |||||||
| Accrued on Monthly Net Income | 45% | rounded to nearest dollar | |||||
| Amounts Accrued Q4 2016 paid January 2017 | $ 200,000 | ||||||
| Cash and Financing Matters | |||||||
| Cash Balance, 12/31/2016 | $ 82,000 | ||||||
| 2017 Minimum Balance Required | 640,000 | ||||||
| Monthly Dividends | $ 1.90 | per share | |||||
| Outstanding Shares | 5,000 | ||||||
| Line of Credit | |||||||
| Limit | None | ||||||
| Borrowing Increment Required | $ 1,000 | ||||||
| Interest Rate | 9% | ||||||
| Draws | First of Month | ||||||
| Repayments | Last of Month | ||||||
| Interest accumulates to the loan balance and is paid in full with each repayment. | |||||||
| Additional Item | |||||||
| Fixed Asset Purchase | $ 400,000 | ||||||
| Month | February | ||||||
In: Accounting
Which of the following statements is true?
An increase in government purchases by $10 million will cause real GDP to increase by exactly $10 million.
Consumption, investment, and net export spending are all likely to change as a result of a change in government purchases.
Most conditional forecasts assume that a change in government purchases has no effect on the other spending components of real GDP.
Only consumption spending is affected by changes in government purchases.
A change in government purchases has no effect on the other spending components of real GDP.
In: Economics