High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 44,000 | |
| Units sold | 39,000 | |
| Selling price per unit | $ | 83 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 565,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 17 |
| Direct labor cost per unit | $ | 8 |
| Variable manufacturing overhead cost per unit | $ | 1 |
| Fixed manufacturing overhead cost (per month) | $ | 748,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Calculate the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Calculate the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation: Beginning inventory 0 Units produced 43,000 Units sold 38,000 Selling price per unit $85 Selling and administrative expenses: Variable per unit $3 Fixed per month $ 562,000 Manufacturing costs: Direct materials cost per unit $17 Direct labor cost per unit $7 Variable manufacturing overhead cost per unit $2 Fixed manufacturing overhead cost per month $ 731,000 Management is anxious to see how profitable the new camp cot will be and has asked that an income statement be prepared for May. Required: 1. Assume that the company uses absorption costing. a. Determine the unit product cost. b. Prepare an income statement for May. 2. Assume that the company uses variable costing. a. Determine the unit product cost. b. Prepare a contribution format income statement for May.
In: Economics
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 36,000 | |
| Units sold | 31,000 | |
| Selling price per unit | $ | 79 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 564,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 14 |
| Direct labor cost per unit | $ | 9 |
| Variable manufacturing overhead cost per unit | $ | 3 |
| Fixed manufacturing overhead cost (per month) | $ | 684,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 37,000 | |
| Units sold | 32,000 | |
| Selling price per unit | $ | 78 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 3 |
| Fixed (per month) | $ | 559,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 16 |
| Direct labor cost per unit | $ | 7 |
| Variable manufacturing overhead cost per unit | $ | 1 |
| Fixed manufacturing overhead cost (per month) | $ | 703,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Calculate the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Calculate the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting
Starting out with python
Lists and Tuples - US Population Data
In this assignment, you will be reading the contents of a file into a list.
This file contains the midyear population of the United States, in thousands, during the years 1950 through 1990. The first line in the file contains the population for 1950, the second line contains the populations for 1951, and so forth.
You will ask the user to input a specific year to check the population on.
Your program will then read the file's contents into a list. The program should display the following data:
1. The population for the year the user-specified.
2. The average annual change in population during the time period.
3. The year with the greatest increase in population during the time period.
4. The year with the smallest increase in population during the time period.
US Population:
151868 153982 156393 158956 161884 165069 168088 171187 174149 177135 179979 182992 185771 188483 191141 193526 195576 197457 199399 201385 203984 206827 209284 211357 213342 215465 217563 219760 222095 224567 227225 229466 231664 233792 235825 237924 240133 242289 244499 246819 249623
In: Computer Science
| Cause | Deaths |
| Passenger car occupant (driver or rider) | 13,100 |
| Motorcycle (driver or rider) |
4,500 |
| Tornado | 553 |
| Skydiving | 56 |
Population of United States is 312 million people
a) What is the probability that an American chosen at random died as a passenger car occupant last year?
b) What is the probability that you died as a passenger car occupant last year? Make sure your answer is accurate to at least 2 significant figures (values after leading zeros)
c) Estimate the probability that you will die as a passenger car occupant next year?
d) What is the probability that an American chosen at random will die as the result of a tornado next year?
e) Estimate the probability that you will die as the result of a tornado next year?
f) Why is this answer different than the probability for an American chosen at random?
g) People sometimes claim skydiving is less dangerous than driving or riding in a car. Does the data support this claim? Explain.
h) People sometimes claim motorcycle riding is less dangerous than traveling by car. Does the data support this claim? What additional information and/or calculations would be useful to evaluate this claim?
In: Statistics and Probability
|
Participant |
Minutes |
|
1 |
150 |
|
2 |
45 |
|
3 |
67 |
|
4 |
221 |
|
5 |
30 |
|
6 |
109 |
|
7 |
78 |
|
8 |
126 |
|
9 |
135 |
|
10 |
58 |
|
11 |
89 |
|
12 |
90 |
|
13 |
93 |
|
14 |
108 |
|
15 |
119 |
|
16 |
185 |
|
17 |
100 |
|
18 |
109 |
|
19 |
189 |
|
20 |
167 |
In: Statistics and Probability
Airbus sold an A400 aircraft to Delta Airlines, a U.S. company, and billed $30 million payable in six months. Airbus is concerned about the euro proceeds from international sales and would like to control exchange risk. The current spot exchange rate is $1.05/€ and the six-month forward exchange rate is $1.10/€. Airbus can buy a six-month put option on U.S. dollars with a strike price of €0.95/$ for a premium of €0.02 per U.S. dollar. Currently, six-month interest rate is 2.5 percent in the euro zone and 3.0 percent in the United States.
a. Compute the guaranteed euro proceeds from the American sale if Airbus decides to hedge using a forward contract.
b. If Airbus decides to hedge using money market instruments, what action does Airbus need to take? What would be the guaranteed euro proceeds from the American sale in this case?
c. If Airbus decides to hedge using put options on U.S. dollars, what would be the expected” euro proceeds from the American sale? Assume that Airbus regards the current forward exchange rate as an unbiased predictor of the future spot exchange rate.
In: Finance
Confidence Interval 1
All of the questions with the header "Confidence Interval 1" are based on the data in this problem.
A researcher at the Annenberg School of Communication is interested in studying the use of smartphones among young adults. She wants to know the average amount of time that college students in the United States hold a smartphone in their hand each day. The researcher obtains data for one day from a random sample of 25 college students (who own smartphones). She installs an app that registers whenever the smartphone is being held and the screen is on. The sample mean is 230 minutes, with a standard deviation of 11 minutes.
What is the 95% confidence interval for average daily time a smartphone is used among college students?
Please show all work for this question on your own sheet of paper. Take your time and organize it neatly with plenty of space. You will upload your work at the end. For some questions, just enter your answer in Canvas.
1. What value of t is used in the confidence interval?
2. What is the standard error?
3. What is the lower bound of the confidence interval?
4. What is the upper bound of the confidence interval?
In: Statistics and Probability
High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation:
| Beginning inventory | 0 | |
| Units produced | 44,000 | |
| Units sold | 39,000 | |
| Selling price per unit | $ | 78 |
| Selling and administrative expenses: | ||
| Variable per unit | $ | 4 |
| Fixed (per month) | $ | 556,000 |
| Manufacturing costs: | ||
| Direct materials cost per unit | $ | 18 |
| Direct labor cost per unit | $ | 6 |
| Variable manufacturing overhead cost per unit | $ | 2 |
| Fixed manufacturing overhead cost (per month) | $ | 660,000 |
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Determine the unit product cost.
b. Prepare a contribution format income statement for May.
In: Accounting