2. How will pension expense in the current year change if the actual rate of return increases?
3. How will pension expense in the current year change if the discount rate increases?

Personal Budget

At the beginning of the school year, Katherine Malloy decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:

a. Prepare a cash budget for September, October, November, and December. Enter all amounts as positive values except an overall cash decrease which should be indicated with a minus sign.

b. Are the four monthly budgets that are presented prepared as static budgets or flexible budgets?

c. Malloy can see that her present plan   sufficient cash. If Malloy did not budget but went ahead with the original plan, she would be $   at the end of December, with no time left to adjust.

The Aluminum Association reports that the average American uses 56.8 pounds of aluminum in a year. A random sample of 49 households is monitored for one year to determine aluminum usage. If the population standard deviation of annual usage is 12.3 pounds, what is the probability that the sample mean will be each of the following?

Appendix A Statistical Tables

a. More than 60 pounds
b. More than 56 pounds
c. Between 55 and 57 pounds
d. Less than 55 pounds
e. Less than 48 pounds

(Round the values of z to 2 decimal places. Round your answers to 4 decimal places.)

a. enter the probability that the sample mean will be more than 60 pounds

b. enter the probability that the sample mean will be more than 56 pounds

c. enter the probability that the sample mean will be between 55 and 57 pounds

d. enter the probability that the sample mean will be less than 55 pounds

e. enter the probability that the sample mean will be less than 48 pounds

total factory overhead for Bardot Marine Company is budgeted for the year at $778,050, divided into four activities: fabrication, $357,000; assembly, $147,000; setup, $148,050; and inspection, $126,000. Bardot Marine manufactures two types of boats: speedboats and bass boats. The activity-base usage quantities for each product by each activity are as follows:

Each product is budgeted for 3,500 units of production for the year.

a. Determine the activity rates for each activity.

b. Determine the activity-based factory overhead per unit for each product. Round to the nearest whole dollar.

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Required:

1-a. Compute the throughput time for each month.

1-b. Compute the delivery cycle time for each month.

1-c. Compute the manufacturing cycle efficiency (MCE) for each month.

2. Evaluate the company’s performance over the last four months.

3-a. Refer to the move time, process time, and so forth, given for month 4. Assume that in month 5 the move time, process time, and so forth, are the same as in month 4, except that through the use of Lean Production the company is able to completely eliminate the queue time during production. Compute the new throughput time and MCE.

3-b. Refer to the move time, process time, and so forth, given for month 4. Assume in month 6 that the move time, process time, and so forth, are again the same as in month 4, except that the company is able to completely eliminate both the queue time during production and the inspection time. Compute the new throughput time and MCE.

Vogl Company is a U.S. firm conducting a financial plan for the next year. It has no foreign subsidiaries, but more than half of its sales are from exports. Its foreign cash inflows to be received from exporting and cash outflows to be paid for imported supplies over the next year are shown in the following table:

The spot rates and one-year forward rates for these currencies as of today are as follows:

Based on the information provided, determine the net exposure of each foreign currency in US dollars. 8 Marks

Given the forecast of the Canadian dollar along with the forward rate of the Canadian dollar, what is the expected increase or decrease in US dollar cash flows that would result from hedging the net cash flows in Canadian dollars one year forward? Would you hedge the Canadian dollar position? Why?

      5 Marks

Given the forecast of the Singapore dollar along with the forward rate of the Singapore dollar, what is the expected increase or decrease in US dollar cash flows that would result from hedging the net cash flows in Singapore dollars one year forward? Would you hedge the Singapore dollar position? Why?

This year Noah transferred $7 million to an irrevocable trust established for the benefit of his niece. The trustee
is directed to accumulate income for the next five years before distributing the before distributing the trust corpus to
Noah’s niece. In past years Noah has made taxable gifts of $6 million and used an applicable credit on an exemption
equivalent of $5 million. What amount of gift tax, if any, must Noah remit?

I would appreciate some help with this problem. I would love if someone could explain it to me and show me the work to get to the answer.

Presented below are a number of balance sheet items for Roma, Inc., for the current year, 2020.

Goodwill                                                                                            $ 210,000

Accumulated depreciation—equipment                                            $ 467,000

Payroll taxes payable                                                                         $65,300

Inventory                                                                                           $ 398,600

Bonds payable                                                                                   $500,000

Rent payable (short-term)                                                                  $40,000

Discount on bonds payable                                                               $35,000

Income tax payable                                                                            $110,800

Cash                                                                                                    $ 61,000

Rent payable (long-term)                                                                   $80,000

Land                                                                                                   $351,000

Common stock, $1 par value                                                             $250,000

Notes receivable                                                                                 $160,500

Preferred stock, $25 par value                                                            $1,250,000

Notes payable (to banks)                                                                    $264,900

Prepaid expenses                                                                                $68,760

Accounts payable                                                                              $ 347,000

Equipment                                                                                         $1,386,000

Retained earnings                                                                              ?

Equity investments (trading)                                                              $375,000

Income taxes receivable                                                                     $45,600

Accumulated depreciation—buildings                                              $361,200

Unsecured notes payable (long-term)                                                $1,300,000

Buildings                                                                                            $2,800,000

Instructions:

Prepare a classified balance sheet in good form.

Common stock authorized was 1,000,000 shares, and preferred stock authorized was 50,000 shares. Assume that notes receivable and notes payable are short-term, unless stated otherwise. Cost and fair value of equity investments (trading) are the same.

An all equity firm pays a dividend of $1 in first year, a dividend

of $2 in second year which then grows at a constant rate of 5% for the next ten years. After that, the company has promised to pay a fixed dividend of $4 annually. If the cost of equity is 15%, what is the share price?

Select one:
a. $20.33
b. $22.60
c. $23.25
d. $21.5

roviding for Doubtful Accounts At the end of the current year, the accounts receivable account has a debit balance of $703,000 and sales for the year total $7,970,000. The allowance account before adjustment has a credit balance of $9,500. Bad debt expense is estimated at 3/4 of 1% of sales. The allowance account before adjustment has a credit balance of $9,500. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $30,400. The allowance account before adjustment has a debit balance of $7,200. Bad debt expense is estimated at 1/2 of 1% of sales. The allowance account before adjustment has a debit balance of $7,200. An aging of the accounts in the customer ledger indicates estimated doubtful accounts of $59,800. Determine the amount of the adjusting entry to provide for doubtful accounts under each of the assumptions (a through d) listed above. a. $ b. $ c. $ d. $