The body temperatures of a group of healthy adults have a bell-shaped distribution with a mean of 98.08degreesF and a standard deviation of 0.63degreesF. Using the empirical rule, find each approximate percentage below. a. What is the approximate percentage of healthy adults with body temperatures within 1 standard deviation of the mean, or between 97.45degreesF and 98.71degreesF? b. What is the approximate percentage of healthy adults with body temperatures between 96.19degreesF and 99.97degreesF?
In: Statistics and Probability
Assume that a set of test scores is normally distributed with a mean of 120 and a standard deviaton of 5. Use the 68-95-99.7 rule to the find the followng quantities.
a. The percentage of scores less than 120 is ____% (round to one decimal place as needed).
b. The percentage of scores greater than 125 is ______% (round to one decimal place as needed).
c. The percentage of scores between 110 and 125 is ____% (round to one decimal place as needed).
In: Math
Assume that a set of test scores is normally distributed with a mean of 80 and a standard deviation of 15
Use the 68-95-99.7 rule to find the following quantities.
a. The percentage of scores less than
80 is ___%.
(Round to one decimal place as needed.)
b. The percentage of scores greater than 95 is ___%
(Round to one decimal place as needed.)
c. The percentage of scores between 50 and 95 is ___%.
(Round to one decimal place as needed.)
In: Math
Assume that a set of test scores is normally distributed with a mean of 80 and a standard deviation of 5. Use the 68-95-99.7 rule to find the following quantities.
a. The percentage of scores less than 80 is._____% (Round to one decimal place as needed.)
b. The percentage of scores greater than 85 is.___%. (Round to one decimal place as needed.)
c. The percentage of scores between 70 and 85 is.____% (Round to one decimal place as needed.)
In: Math
Auto Expenses (LO. 2)
Cassandra owns her own business and drives her van 15,000 miles a year for business and 5,000 miles a year for commuting and personal use. She purchases a new van in 2018 and wants to claim the largest tax deduction possible for business use. Cassandra's total auto expenses for 2018 are as follows:
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Determine Cassandra's 2018 deduction for business use of the van. (Note: The standard mileage rate for 2018 is 54.5 cents per mile.)
Round all amounts to the nearest dollar.
Cassandra can maximize her deduction by using the standard mileage deduction. Via this method, she can deduct $ for her van. Her other allocable expenses amount to $.____(answer here )_____
Travel Expenses (LO. 3)
Olga has to travel to Philadelphia for 2 days on business. She enjoys history and is planning to visit the Liberty Bell and other historic sites in the city. If time permits, she would like to make a side trip to nearby Gettysburg. A friend of Olga’s tells her, “The best part of traveling on business is that once the business is over, you can sightsee all you want and the cost is tax-deductible.” Olga, who is self-employed, has scheduled her trip for the Labor Day weekend so that she can spend 3 days sightseeing. Complete the letter to Olga which outlines the tax travel expense rules.
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In: Accounting
Consider the following situation as if you were Ian.
Ian was a senior analyst at a major hotel company. Although Ian worked mostly in corporate headquarters, he would occasionally travel to the field where he met with front-line employees and learned what was on their minds.
On a trip to Portland, Ian had the chance to speak with two people working at the front desk about what it was like to work at the hotel. Daniel, the younger of the two had joined the staff recently; Ellen, the other employee (and Daniel’s supervisor), had been with the company for almost 15 years. Both employees seemed particularly interested in talking with Ian because they rarely got a chance to talk directly to anyone from headquarters.
As the three discussed changes in the hospitality industry, Ellen and Daniel complained about their company’s aggressive cost control initiatives, spearheaded by the charismatic but frugal CEO, whose policies were occasionally unpopular. After a few more minutes of conversation, Ellen casually said, “The CEO is so tight with a buck, I wonder if he is Jewish.”
As a Jewish person, Ian did not know how to react. He had never actually experienced anything like this before, especially in a professional setting. Ian’s instinct was not to be combative or hostile, but he felt a bit like a deer caught in the headlights. Daniel looked a little surprised at his supervisor’s remark, but, laughing, he quickly changed the subject. Smiling, Ian made an excuse to end or discussion and walk away.
The next day Ian woke up still bothered by Ellen’s remark. While checking out, he saw Daniel at the front desk. Ian mentioned to him that he may want to tell his supervisor to watch her remarks about other peoples’ ethnicity, to which Daniel replied, “I know what you mean because I am Puerto Rican, but I think that she meant it as a joke.” Ian could see that Daniel just wanted to smooth the issue over.
On the ride to the airport, Ian kept thinking about what he might do. Should he report Ellen to Human Resources? The company had a process in place for such matters, but he was worried. Ian did not know who he was dealing with; maybe Ellen would retaliate if he said something, especially since she would know who filed the complaint. Plus, Ian was not sure what the consequences would be – he didn’t want to get her fired. Ian only wanted Ellen to know how offensive the comments were.
As a team, consider what steps Ian should take.
What are the concerns facing Ian?
In: Operations Management
Exercise 9-14 Prepare a Flexible Budget Performance Report [LO9-4]
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs:
| Fixed Cost per Month |
Cost per Car Washed |
||||||
| Cleaning supplies | $ | 0.80 | |||||
| Electricity | $ | 1,200 | $ | 0.09 | |||
| Maintenance | $ | 0.15 | |||||
| Wages and salaries | $ | 4,500 | $ | 0.40 | |||
| Depreciation | $ | 8,200 | |||||
| Rent | $ | 1,800 | |||||
| Administrative expenses | $ | 1,600 | $ | 0.02 | |||
For example, electricity costs are $1,200 per month plus $0.09 per car washed. The company expects to wash 8,400 cars in August and to collect an average of $6.30 per car washed.
The actual operating results for August appear below.
| Lavage Rapide | ||
| Income Statement | ||
| For the Month Ended August 31 | ||
| Actual cars washed | 8,500 | |
| Revenue | $ | 55,020 |
| Expenses: | ||
| Cleaning supplies | 7,220 | |
| Electricity | 1,926 | |
| Maintenance | 1,500 | |
| Wages and salaries | 8,220 | |
| Depreciation | 8,200 | |
| Rent | 2,000 | |
| Administrative expenses | 1,668 | |
| Total expense | 30,734 | |
| Net operating income | $ | 24,286 |
Required:
Prepare a flexible budget performance report that shows the company’s revenue and spending variances and activity variances for August. (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.)
In: Accounting
Exercise 9-14 (Algo) Prepare a Flexible Budget Performance Report [LO9-4] Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs: Fixed Cost per Month Cost per Car Washed Cleaning supplies $ 0.60 Electricity $ 1,100 $ 0.10 Maintenance $ 0.15 Wages and salaries $ 4,900 $ 0.30 Depreciation $ 8,100 Rent $ 2,200 Administrative expenses $ 1,800 $ 0.03 For example, electricity costs are $1,100 per month plus $0.10 per car washed. The company expects to wash 8,200 cars in August and to collect an average of $6.00 per car washed. The actual operating results for August are as follows: Lavage Rapide Income Statement For the Month Ended August 31 Actual cars washed 8,300 Revenue $ 51,300 Expenses: Cleaning supplies 5,420 Electricity 1,890 Maintenance 1,470 Wages and salaries 7,720 Depreciation 8,100 Rent 2,400 Administrative expenses 1,946 Total expense 28,946 Net operating income $ 22,354 Required: Prepare a flexible budget performance report that shows the company’s revenue and spending variances and activity variances for August. (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.)
In: Accounting
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs:
| Fixed Cost per Month |
Cost per Car Washed |
||||||
| Cleaning supplies | $ | 0.50 | |||||
| Electricity | $ | 1,000 | $ | 0.06 | |||
| Maintenance | $ | 0.30 | |||||
| Wages and salaries | $ | 4,900 | $ | 0.40 | |||
| Depreciation | $ | 8,400 | |||||
| Rent | $ | 1,900 | |||||
| Administrative expenses | $ | 1,700 | $ | 0.03 | |||
For example, electricity costs are $1,000 per month plus $0.06 per car washed. The company expects to wash 8,300 cars in August and to collect an average of $6.80 per car washed.
The actual operating results for August appear below.
| Lavage Rapide | ||
| Income Statement | ||
| For the Month Ended August 31 | ||
| Actual cars washed | 8,400 | |
| Revenue | $ | 58,540 |
| Expenses: | ||
| Cleaning supplies | 4,650 | |
| Electricity | 1,468 | |
| Maintenance | 2,730 | |
| Wages and salaries | 8,580 | |
| Depreciation | 8,400 | |
| Rent | 2,100 | |
| Administrative expenses | 1,849 | |
| Total expense | 29,777 | |
| Net operating income | $ | 28,763 |
Required:
Prepare a flexible budget performance report that shows the company’s revenue and spending variances and activity variances for August. (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.)
ounts as positive values.)
In: Accounting
Exercise 9-9 Prepare a Report Showing Revenue and Spending Variances [LO9-2]
Lavage Rapide is a Canadian company that owns and operates a large automatic car wash facility near Montreal. The following table provides data concerning the company’s costs:
| Fixed Cost per Month |
Cost per Car Washed |
||||||
| Cleaning supplies | $ | 0.80 | |||||
| Electricity | $ | 1,200 | $ | 0.15 | |||
| Maintenance | $ | 0.20 | |||||
| Wages and salaries | $ | 5,000 | $ | 0.30 | |||
| Depreciation | $ | 6,000 | |||||
| Rent | $ | 8,000 | |||||
| Administrative expenses | $ | 4,000 | $ | 0.10 | |||
For example, electricity costs are $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed.
The actual operating results for August are as follows:
| Lavage Rapide | ||
| Income Statement | ||
| For the Month Ended August 31 | ||
| Actual cars washed | 8,800 | |
| Revenue | $ | 43,080 |
| Expenses: | ||
| Cleaning supplies | 7,560 | |
| Electricity | 2,670 | |
| Maintenance | 2,260 | |
| Wages and salaries | 8,500 | |
| Depreciation | 6,000 | |
| Rent | 8,000 | |
| Administrative expenses | 4,950 | |
| Total expense | 39,940 | |
| Net operating income | $ | 3,140 |
Required:
Calculate the company's revenue and spending variances for August. (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. Do not round intermediate calculations.)
In: Accounting