Create a class named GroceryList. The attributes will be threeLinkedLists. One LinkedList holds double (currency) values, one holds integer values, and the last holds String values. The String LinkedList is a list of grocery item names. The double LinkedList holds the cost of that item. The integer LinkedList is the number of those items being purchased.
The constructor will simply create empty lists.
The following are the methods to create for this class:
1. add(String, cost, quantity) : Add the specified items to the next position on each LinkedList (note that will ensure that the index of each item is the same on both LinkedLists).
2. remove(String) : Remove the specified item from BOTH lists. This means find it in the String LinkedList, save that index, and then remove the item at that index from each list.
3. bill() : This method will return the total cost of the items being purchased.
4. receipt() : This method will print the name of each item being purchased, how many of those items are being purchased, and the total cost of that item. The last line will be the total cost of all items being purchased.
java language and it's not custom
In: Computer Science
Explain the relationship among cost, cost objective, cost accumulation, and cost allocation.
In: Accounting
Baggy Company has the following information related to the production of handbags for the 2nd quarter of 2017:
• Budgeted sales volume April 150 bags • Budgeted sales volume May 175 bags • Budgeted sales volume June 160 bags • Selling price per bag $45 • Cost of leather per yard $7 • Leather per bag 1.5 yards • Cost of direct labor per hour $10 • Direct labor per bag 0.5 hour • Manufacturing overhead cost per bag $5.50 • Desired ending inventory for bags is 20% of current month’s sales units • Desired ending inventory for leather is 10% of current month’s Direct material yards required for production • Ending inventory of leather at March 31 was 18 yards (use as Beginning inventory for April) • Ending inventory of bags at March 31 was 25 bags (use as Beginning inventory for April) • Variable selling and admin cost per bag $5 • Fixed selling and admin cost per month $1,550 • Income tax rate $25%
• Using the data above, put together the Master Budget (use the format provided on page 2 of instructions) in Excel from a new workbook for Baggy Company – include:
o Sales Budget (for April, May, June and the entire 2nd quarter of 2017) o Production Budget (for April, May, June and the entire 2nd quarter of 2017) o Direct Materials Budget (for April, May, June and the entire 2nd quarter of 2017) o Direct Labor Budget (for April, May, June and the entire 2nd quarter of 2017) o Budgeted Income Statement (for 2nd Quarter only) ? First sheet of workbook should contain data section ? Set up each budget in its own worksheet and link cells to data sheet or to previous budget where appropriate (Example: Budgeted Sales Units from Sales Budget should be linked to Production Budget) ? All numbers should have appropriate formatting o Data sheet and all budgets should be set up so that one change to the data section will automatically recalculate Net Income • Format each worksheet to be visually organized and appealing and print to one page • Add your name to the bottom right-hand footer of each sheet • Rename your completed Excel file to include your first initial and last name at the end of the file name (example: Acc 255 Graded Assignment #10 L. Akeo) • Submit your completed Excel file back to the Assignment in Laulima by the due date indicated in the assignment.
Grading Rubric Requirements Maximum Points Budgets are in good form 10 Budget totals are accurately calculated using appropriate formulas in Excel 15 All sheets are linked from data sheet to Income Statement 15 Each sheet prints to one page and is visually organized and appealing 5 Add your name to each footer and to file name 5 Total points 50 Sales budget Budgeted sales units x selling price per bag = Total budgeted sales dollars Hint: Total sales for the entire 2nd quarter should come out to $21,825. Production Budget Budgeted sales units + Desired ending inventory of bags (20% of current months’ sales units) (-) Beginning inventory (20% of last month’s sales units) = Required production units (bags) Hint: Required production units for the entire 2nd quarter should come out to 492 units (bags). Direct Materials Budget Required production units (bags) x Direct material yards per bag = Direct material yards required for production + Desired ending inventory (10% of current month’s Direct material yards required for production) (-) Beginning inventory (10% of last month’s Direct material yards required for production) = Required purchases of direct material yards x Material cost per yard = Total cost of direct material purchases Hint: Total cost of direct material purchases for the entire 2nd quarter should come out to $5,204.85. Direct Labor Budget Required production units x DL hours per bag Required DL hours x Standard DL cost per hour Total DL cost
Hint: Total direct labor cost for the entire 2nd quarter should come out to $2,460. Budgeted Income Statement Total sales Less: COGS [(Total cost per unit* x total units sold for the quarter) = Gross profit Less: Selling and admin (Variable cost per bag x total bags sold) + Fixed costs for the quarter = Income before taxes Less: Income tax expense = Net income *To get Total cost per unit = [(Cost of leather per yd x yds needed per bag) + (DL cost per hr x DL hrs per bag) + Manufacturing OH cost per bag] Hint: Net income should come out to $3,423.75.
In: Accounting
Short questions:
a. A firm has production function f(K, L) = 2L + 3K. The price of L is w and the price of K is r. Derive the cost function of the firm.
b. A firm in a competitive industry takes account of the fact that the demand curve it faces has a negative slope. True or false?
c. A profit-maximizing firm continues to operate even though makes negative profits. It sells its product at a price of $100. Which of the following statements are certainly true?
○ Marginal cost is everywhere increasing.
○ Average fixed cost is less than $100.
○ Average total cost is more than $100.
○ Average variable cost is less than $100.
○ Marginal cost is decreasing.
d. The area under the marginal cost curve measures total variable costs. True or false?
e. If the average cost curve is U-shaped, then the marginal cost curve must cross the average cost curve at the bottom of the U. True or false?
f. As long as the marginal cost of production is greater than the average variable cost, the average variable cost is increasing. True or false?
In: Economics
Mastery Problem: Cost-Volume-Profit Analysis
Cost Behavior
Cover-to-Cover Company is a manufacturer of shelving for books. The company has compiled the following cost data, and wants your help in determining the cost behavior. After reviewing the data, complete requirements (1) and (2) that follow.
Units Produced |
Total Lumber Cost |
Total Utilities Cost |
Total Machine Depreciation Cost |
| 15,000 shelves | $165,000 | $19,250 | $140,000 |
| 30,000 shelves | 330,000 | 36,500 | 140,000 |
| 60,000 shelves | 660,000 | 71,000 | 140,000 |
| 75,000 shelves | 825,000 | 88,250 | 140,000 |
1. Determine whether the costs in the table are variable, fixed, mixed, or none of these.
| Lumber | Variable Cost |
| Utilities | Mixed Cost |
| Depreciation | Fixed Cost |
2. For each cost, determine the fixed portion of the cost, and the per-unit variable cost. If there is no amount or an amount is zero, enter "0". Recall that, for N = Number of Units Produced, Total Costs = (Variable Cost Per Unit x N) + Fixed Cost. Complete the following table with your answers. Round variable portion of cost (per unit) answers to two decimal places.
Cost |
Fixed Portion of Cost |
Variable Portion of Cost (per Unit) |
| Lumber | $ | $ |
| Utilities | ||
| Depreciation |
Feedback
Review the definitions for fixed, variable, and mixed costs, and the relationships between units produced and total cost for each type of cost. Recall that the high-low method may be used to separate a cost into its fixed and variable components.
High-Low
Biblio Files Company is the chief competitor of Cover-to-Cover Company in the bookshelf business. Biblio Files is analyzing its manufacturing costs, and has compiled the following data for the first six months of the year. After reviewing the data, answer questions (1) through (3) that follow.
| Units Produced | Total Cost | ||
| January | 4,360 | units | $65,600 |
| February | 300 | 6,250 | |
| March | 1,000 | 15,000 | |
| April | 5,800 | 88,750 | |
| May | 1,750 | 32,500 | |
| June | 3,015 | 48,000 | |
1. From the data previously provided, help Biblio Files Company estimate the fixed and variable portions of its total costs using the high-low method. Recall that Total Costs = (Variable Cost Per Unit x Number of Units Produced) + Fixed Cost. Complete the following table.
| Total Fixed Cost | Variable Cost per Unit |
| $ | $ |
2. With your Total Fixed Cost and Variable Cost per Unit from the high-low method, compute the total cost for the following values of N (Number of Units Produced).
| Number of Units Produced |
Total Cost |
| 3,500 | $ |
| 4,360 | |
| 5,800 |
3. Why does the total cost computed for 4,360 units not match the data for January?
a. The high-low method is accurate only for months in which production is at full capacity.
b. The high-low method only gives accurate data when fixed costs are zero.
c. The high-low method gives a formula for the estimated total cost and may not match levels of production other than the highest and lowest.
d. The high-low method gives accurate data only for levels of production outside the relevant range.
c
Feedback
Review the high-low method, and use the smallest and largest levels of production in your computation.
Contribution Margin
Review the contribution margin income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statements. Complete the following table from the data provided on the income statements. Each company sold 79,800 units during the year.
| Cover-to-Cover Company |
Biblio Files Company |
|
| Contribution margin ratio (percent) | % | % |
| Unit contribution margin | $ | $ |
| Break-even sales (units) | ||
| Break-even sales (dollars) | $ | $ |
Feedback
Review the definitions of contribution margin ratio and unit contribution margin. Also review the formulas for break-even in terms of units sold and sales dollars.
Income Statement - Cover-to-Cover
| Cover-to-Cover Company Contribution Margin Income Statement For the Year Ended December 31, 20Y8 |
||
| Sales | $399,000 | |
| Variable costs: | ||
| Manufacturing expense | $239,400 | |
| Selling expense | 19,950 | |
| Administrative expense | 59,850 | (319,200) |
| Contribution margin | $79,800 | |
| Fixed costs: | ||
| Manufacturing expense | $5,000 | |
| Selling expense | 4,000 | |
| Administrative expense | 10,950 | (19,950) |
| Operating income | $59,850 | |
Income Statement - Biblio Files
| Biblio Files Company Contribution Margin Income Statement For the Year Ended December 31, 20Y8 |
||
| Sales | $399,000 | |
| Variable costs: | ||
| Manufacturing expense | $159,600 | |
| Selling expense | 15,960 | |
| Administrative expense | 63,840 | (239,400) |
| Contribution margin | $159,600 | |
| Fixed costs: | ||
| Manufacturing expense | $81,750 | |
| Selling expense | 8,000 | |
| Administrative expense | 10,000 | (99,750) |
| Operating income | $59,850 | |
Sales Mix
Biblio Files Company is making plans for its next fiscal year, and decides to sell two new types of bookshelves, Basic and Deluxe. The company has compiled the following estimates for the new product offerings.
| Type of Bookshelf |
Sales Price per Unit |
Variable Cost per Unit |
| Basic | $5.00 | $1.75 |
| Deluxe | 9.00 | 8.10 |
The company is interested in determining how many of each type of bookshelf would have to be sold in order to break even. If we think of the Basic and Deluxe products as components of one overall enterprise product called “Combined,” the unit contribution margin for the Combined product would be $2.31. Fixed costs for the upcoming year are estimated at $332,640. Recall that the totals of all the sales mix percents must be 100%. Determine the amounts to complete the following table.
| Type of Bookshelf | Percent of Sales Mix | Break-Even Sales in Units | Break-Even Sales in Dollars |
| Basic | % | $ | |
| Deluxe | % | $ |
Feedback
Review the definition of break-even point.
Recall that the Combined unit contribution margin is given by [(Basic unit contribution margin) x (Basic percent of sales mix)] + [(Deluxe unit contribution margin) x (Deluxe percent of sales mix)]. Since these percents must add up to 100%, we have the following:
(Basic percent of sales mix) + (Deluxe percent of sales mix) = 100%, so that
(Deluxe percent of sales mix) = 100% - (Basic percent of sales mix)
Target Profit
Refer again to the income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statement. Note that both companies have the same sales and net income. Answer questions (1) - (3) that follow, assuming that all data for the coming year is the same as the current year, except for the amount of sales.
1. If Cover-to-Cover Company wants to increase
its profit by $20,000 in the coming year, what must their amount of
sales be?
$
2. If Biblio Files Company wants to increase
its profit by $20,000 in the coming year, what must their amount of
sales be?
$
3. What would explain the difference between your answers for (1) and (2)?
a. Biblio Files Company has a higher contribution margin ratio, and so more of each sales dollar is available to cover fixed costs and provide operating income.
b. Cover-to-Cover Company’s contribution margin ratio is lower, meaning that it’s more efficient in its operations.
c. The companies have goals that are not in the relevant range.
d. The answers are not different; each company has the same required sales amount for the coming year to achieve the desired target profit.
a
In: Accounting
The U.S. Geological Survey compiled historical data about Old Faithful Geyser (Yellowstone National Park) from 1870 to 1987. Let x1 be a random variable that represents the time interval (in minutes) between Old Faithful eruptions for the years 1948 to 1952. Based on 9520 observations, the sample mean interval was x1 = 61.2 minutes. Let x2 be a random variable that represents the time interval in minutes between Old Faithful eruptions for the years 1983 to 1987. Based on 25,340 observations, the sample mean time interval was x2 = 71.2 minutes. Historical data suggest that σ1 = 8.35 minutes and σ2 = 12.41 minutes. Let μ1 be the population mean of x1 and let μ2 be the population mean of x2.
(a) Compute a 95% confidence interval for μ1 – μ2. (Use 2 decimal places.)
| lower limit | |
| upper limit |
(b) Comment on the meaning of the confidence interval in the context of this problem. Does the interval consist of positive numbers only? negative numbers only? a mix of positive and negative numbers? Does it appear (at the 95% confidence level) that a change in the interval length between eruptions has occurred? Many geologic experts believe that the distribution of eruption times of Old Faithful changed after the major earthquake that occurred in 1959.
Because the interval contains only positive numbers, we can say that the interval length between eruptions has gotten shorter.
Because the interval contains both positive and negative numbers, we can not say that the interval length between eruptions has gotten longer.
We can not make any conclusions using this confidence interval.
Because the interval contains only negative numbers, we can say that the interval length between eruptions has gotten longer.
In: Statistics and Probability
The U.S. Geological Survey compiled historical data about Old Faithful Geyser (Yellowstone National Park) from 1870 to 1987. Let x1 be a random variable that represents the time interval (in minutes) between Old Faithful eruptions for the years 1948 to 1952. Based on 9280 observations, the sample mean interval was x1 = 62.0 minutes. Let x2 be a random variable that represents the time interval in minutes between Old Faithful eruptions for the years 1983 to 1987. Based on 24,170 observations, the sample mean time interval was x2 = 69.6 minutes. Historical data suggest that σ1 = 8.35 minutes and σ2 = 12.76 minutes. Let μ1 be the population mean of x1 and let μ2 be the population mean of x2.
(a) Compute a 99% confidence interval for μ1 – μ2. (Use 2 decimal places.)
| lower limit | |
| upper limit |
(b) Comment on the meaning of the confidence interval in the context of this problem. Does the interval consist of positive numbers only? negative numbers only? a mix of positive and negative numbers? Does it appear (at the 99% confidence level) that a change in the interval length between eruptions has occurred? Many geologic experts believe that the distribution of eruption times of Old Faithful changed after the major earthquake that occurred in 1959.
Because the interval contains only positive numbers, we can say that the interval length between eruptions has gotten shorter.Because the interval contains both positive and negative numbers, we can not say that the interval length between eruptions has gotten longer. We can not make any conclusions using this confidence interval.Because the interval contains only negative numbers, we can say that the interval length between eruptions has gotten longer.
In: Statistics and Probability
The U.S. Geological Survey compiled historical data about Old Faithful Geyser (Yellowstone National Park) from 1870 to 1987. Let x1 be a random variable that represents the time interval (in minutes) between Old Faithful eruptions for the years 1948 to 1952. Based on 9580 observations, the sample mean interval was x1 = 61.8 minutes. Let x2 be a random variable that represents the time interval in minutes between Old Faithful eruptions for the years 1983 to 1987. Based on 23,000 observations, the sample mean time interval was x2 = 69.2 minutes. Historical data suggest that σ1 = 8.49 minutes and σ2 = 11.78 minutes. Let μ1 be the population mean of x1 and let μ2 be the population mean of x2.(a) Compute a 99% confidence interval for μ1 – μ2. (Use 2 decimal places.)
| lower limit | |
| upper limit |
(b) Comment on the meaning of the confidence interval in the context of this problem. Does the interval consist of positive numbers only? negative numbers only? a mix of positive and negative numbers? Does it appear (at the 99% confidence level) that a change in the interval length between eruptions has occurred? Many geologic experts believe that the distribution of eruption times of Old Faithful changed after the major earthquake that occurred in 1959.
Because the interval contains only positive numbers, we can say that the interval length between eruptions has gotten shorter.Because the interval contains both positive and negative numbers, we can not say that the interval length between eruptions has gotten longer. We can not make any conclusions using this confidence interval.Because the interval contains only negative numbers, we can say that the interval length between eruptions has gotten longer.
In: Statistics and Probability
Organism 3
Field Notes: Specimen collected from shaded area along stream in
South Cumberland State Park (Grundy County, TN)
Laboratory Analysis:
Body: Large leaves emerging from underground rhizome
Size: 63cm
Chromosomal Analysis: Plant body is diploid --chromosomes number of
44
Lignin test: Positive
Cuticle: Present
Leaves: Present -- large with branched veins. Underside has
sori(containing haploid spores)
Roots: Present-----branch from the inside
Stem:Present--- vascular tissue(xylem and phloem)present
Life History: Diploid sporophyte dominant generation. Haploid
spores germinate into heart-shaped, haploid, gametophyte. Water
required for fertilization due to flagellated sperm; no seed is
produced. Diploid zygote develops into sporophyte of life ---each
bearing ether megasporangia or microsporangia but not both.
Insects, especially beetles, appear important in
pollination
Question: Explain which domain, kingdom and phylum
you believe this plant should be classified in.
Communication: The local media features the work of your team on their nightly news. During a live interview the reporter asks you " Apparently this plant requires water for fertilization, can you explain, can you explain why"?
Response: ------------------------
In: Biology
Managerial Accounting
Question 1:
The following is the income statement of Giza Co. for the period ended December 31, 2011:
|
Description |
Product X |
Product Y |
Product Z |
Total |
|
Sales Revenue
|
60,000 40000 |
90,000 ? |
50,000 34000 |
|
|
Contribution margin
|
? 0 10,000 |
20,000 8,000 15,000 |
? 20,000 5000 |
|
|
Net income (loss) |
? |
? |
? |
Required:
Question 2:
The normal price per unit $120
Total cost per unit $90 (70% variable cost)
A customer from Nigeria would like to import 3000 units to sell in Bahrain for price $70 per unit.
The maximum capacity is 20,000 units
The local demand is 15,000 units.
Do you advise the company to accept this special order? Justify your answer?
If the customer seeks to receive the goods in Bahrain, and the cost of shipping is $8 per unit, do you advise the company to accept the offer in this case? Justify.
Question 3:
A company produces Cars, and purchasing the wheels for $ 100 per unit.
The management thinks to produce the wheels instead of purchasing it.
The cost of producing is as follows:
Variable cost $40
Fixed cost:
New fixed cost to rent new equipment to produce the battery $250,000
General fixed cost (old fixed cost) $100000.
The quantity of wheels 5000
Do you advice the company to produce the wheels or not? Justify?
Question 4:
Cairo Co. can produce 3 products A, B & C; the following data is estimated to help in preparing the production plan for the coming period to maximize the profit:
|
A |
B |
C |
|
|
Price |
$ 30 |
$50 |
$30 |
|
Variable cost |
$ 18 |
35 |
20 |
|
Demand (maximum sales) |
2000 units |
4000 units |
5000 units |
|
Machine hours per unit |
4 hours |
3 hours |
5 hours |
|
Machine hours per unit |
3 |
5 |
2 |
The fixed cost for the Co. is $10000 regardless the production plan.
The total machine hours are 30,000 hours (maximum capacity).
Required:
1- Prepare the production plan.
2- Prepare the income statement (Fixed cost is allocated according the sales revenue).
Question 5:
Total cost per unit $150
Compute the price in case of:
In: Accounting