Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product costs for the quarter follow:

Sales are 20% cash and 80% on credit. All credit sales are collected in the month following the sale. The June 30 balance sheet includes balances of $15,000 in cash; $45,000 in accounts receivable; $4,500 in accounts payable; and a $5,000 balance in loans payable. A minimum cash balance of $15,000 is required. Loans are obtained at the end of any month when a cash shortage occurs. Interest is 1% per month based on the beginning-of-the-month loan balance and is paid at each month-end. If an excess balance of cash exists, loans are repaid at the end of the month. Operating expenses are paid in the month incurred and consist of sales commissions (10% of sales), office salaries ($4,000 per month), and rent ($6,500 per month).

2. Prepare a cash budget for each of the months of July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Enter your final answers in whole dollars.)

[Refer to the first venture (Intertactical-See reference below). Use Excel built-in functions, include in the Excel file.] (a) Use PV function to calculate the present worth (i.e., at time zero) of each year’s CF. Find the total present worth. (b) Use NPV function to calculate the present worth (i.e., at time zero) of the venture. (c) Use FV function to calculate the future worth (i.e., at year 5) of each year’s CF. Find the total future worth. (d) Use PMT function to calculate the value of equivalent uniform cash flows over the given study period of 5 years. The discount rate is 8% Reference: You have been tasked with fielding an interactive video communications systems. Your job is to provide the U.S. Army with the least expensive system (for the next 5 years) Intertactical: An interactive communications system designed to rely on current satellite systems. The Army must spend $10,590,843.42 now. (t = 0) and $1.7 million this year. (t= 1), increasing that investment by 13% in subsequent years for 4 additional years. (t = 2 through 5).

The Statute of Frauds. Kendall Gardner agreed to buy from B&C Shavings, a specially built shaving mill to produce wood shavings for poultry processors. B&C faxed an invoice to Gardner reflecting a purchase price of $86,200, with a 30 percent down payment and the “balance due before shipment.” Gardner paid the down payment. B&C finished the mill and wrote Gardner a letter telling him to “pay the balance due or you will lose the down payment.” By then, Gardner had lost his customers for the wood shavings, could not pay the balance due, and asked for the return of his down payment. Did these parties have an enforceable contract under the Statute of Frauds? Explain. [Bowen v. Gardner, 2013 Ark.App. 52, __ S.W.3d __ (2013)] (See The Statute of Frauds.) What is the discussion and what is the legal reason?

Robert Perez is a contractor specializing in custom-built jacuzzis. On May 1, 2017, his ledger contains the following data.
Raw Materials Inventory $30,000 Work in Process Inventory 12,200 Manufacturing Overhead 2,500 (dr.) The Manufacturing Overhead account has debit totals of $12,500 and credit totals of $10,000.

Subsidiary data for Work in Process Inventory on May 1 include: Job Cost Sheets Job Manufacturing by Customer Direct Materials Direct Labor Overhead Stiner $2,500 $2,000 $1,400 Alton 2,000 1,200 840 Herman 900 800 560 $5,400 $4,000 $2,800

During May, the following costs were incurred: Raw materials purchased on account $4,000, Labor paid $7,000, and Manufacturing Overhead paid $1,400.

A summary of materials requisition slips and time tickets for the month of May reveals the following. Job by Customer Materials Requisition Slips Time Tickets Stiner $ 500 $ 400 Alton 600 1,000 Herman 2,300 1,300 Smith 1,900 2,300 5,300 5,000 General use 1,500 2,000 $6,800 $7,000

Overhead was charged to jobs on the basis of $0.70 per dollar of direct labor cost. The Jacuzzis for customers Stiner, Alton, and Herman were completed during May. The three Jacuzzis were sold for a total of $36,000.
Instructions (a) Prepare journal entries for the May transactions: (i) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (ii) assignment of raw materials, labor, and overhead to production; and completion of jobs and(iii) sale of goods. (iii) Post the entries to Work in Process Inventory. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (MAKE A SHORT SCHEDULE FOR THIS.)

1. Mr. Brown decided last year to raise chickens in his back yard. He built a chicken coop next to his property line with Mr. Adams. Mr. Adams finds the chickens annoying because of the smell, the noise they make, and because their feathers end up in his pool and can clog the filtering system.

It would be worth $500 to Mr. Adams to be free of the chicken noise and smell, and the need to frequently skim feathers from his pool. Mr. Brown could move his chicken coop to the other side of the yard for $350, which would cut the value of Mr. Adams utility loss from $500 to $250. Mr. Adams values the ability to keep his chickens at $400.

(3) a. Describe this situation using the economist’s concept of an externality

(3) b. Describe this situation in terms of conflicting property rights claims.

(4) c. What is the socially efficient outcome of this situation:

(i). No change is made

(ii). The chicken coop is moved

(iii). Adams gives up raising chickens

Explain your choice, using numbers.

(4) d. Assume that after discussing the situation and consulting lawyers, Adams and Brown learn that the law in their city is unclear regarding nuisance due to neighbor’s chickens. So, they go to court. The judge rules that Adams has every right to raise chickens and keep the coop where it is. Assuming that there are no transaction costs to bargaining between Smith and Adams, what will be the final outcome of the situation after this decision? Explain your answer.

(i). No change is made

(ii) The chicken coop is moved

(iii). Adams gives up raising chickens

(2) e.      T   F     In the legal case just described, Mr. Brown was the plaintiff.

(2) f.     T     F     According to the Coase theorem, even though this question assumes that

there are no transaction costs, different decision by the court would lead to different levels of relative welfare for Adams and Brown.

Maria has built a cafeteria called "Princess of Gourmai and More" since 1995. Amira runs her project that provides coffee from the most delicious coffee in the city. It serves around 800 cups of coffee a day, along with special soups, ready-made Italian sandwiches, and a large selection of delicious cheese cakes. Maria noticed that despite the store's popularity, she always maintains nearly the same revenue. Maria has contacted your staff, who is affiliated with a consulting firm, in her city to advise the way the cafeteria works.

Maria said: “Many community college students visit us next to the cafeteria, as well as many retired clients who live next door and a large group of employees who work in the companies deployed next to the cafeteria. Every day our customers have only 30 minutes to eat their meal and have coffee so we must be fast. When preparing their meals, as it is the worker at the cafeteria who receives the customer’s order and enters the order on the cash box device, as well as receives the money and deposits it in the box and provides the customer with his meal.

The Royal Director Maria added: "We have one cash box that all workers, including myself, are handling to respond to customer requests. This cash box is not of the new type developed but it can track the different categories of meals and coffee, however the worker who receives the order must press every time." He receives the order on the button that pertains to the specific category requested by the customer (coffee, soup, sandwich, cakes) There is an internal tape in the box device that records and maintains a record of all transactions. The customer receives a receipt only when requested to deliver. The number of cafe workers is four along with the manager Maria Two workers work N in the morning from seven o'clock to three o'clock in the evening and two others from three o'clock to eleven at night time. "

Maria also said: “I open the cash box twice a day at the end of the morning period at three o'clock in the evening and at the end of the evening period at eleven o'clock at night. When I open the fund I help workers before they leave to open the cash box and calculate the amount of money and compare it to the total recorded on the tape stored Inside the fund When there is a difference between the money withdrawn from the fund and the total recorded on the tape, I recalculate the money again. "

The owner Maria told your group that since the beginning of the opening of the store, she did not face cases of theft, but rather discovers that the differences that occurred previously between the cash available in the fund and the total amount of money recorded on the tape are usually recording for an employee a different amount than the amount inadvertently received. For example, he records $ 18 instead of the $ 1.8 received amount.

Maria sends the tape and receipts manually to the accountant to make adjustments and also sends him all purchase invoices from the materials she needs to make coffee, sandwiches, soups and cakes. Note that Maria uses the economic quantity method in demand to maintain the stock of materials, given that the daily sales recorded by the cafeteria are close.

Read the case and identify weaknesses, based on the information provided by Maria and the cafeteria manager.

write the necessary recommendations for each weakness

Second Life is a 3-D virtual world entirely built and owned by its residents. Since opening to the public in 2003, it has grown explosively and today is inhabited by millions of people from around the globe. This new virtual world could become the first point of contact between companies and customers and could transform the whole customer experience. Since it began hosting the likes of Adidas, Dell, Reuters and Toyota, Second Life has become technology's equivalent of India or China - everyone needs an office and a strategy involving it to keep their shareholders happy. But beyond opening a shiny new building in the virtual world, what can such companies do with their virtual real estate?

Like many other big brands, PA Consulting has its own offices in Second Life and has learned that simply having an office to answer customer queries is not enough. Real people, albeit behind avatars, must be staffing the offices - in the same way having a Web site is not enough if there is not a call centre to back it up when a would-be customer wants to speak to a human being. In future, the consultants believe call centers could one day ask customers to follow up a phone call with them by moving the query into a virtual world.
Unlike many corporate areas in the virtual world, the NBA Headquarters incorporates capabilities designed to keep fans coming back, including real-time 3-D diagrams of games as they are being played.

PROJECT FOCUS:

You want to create a presence on Second Life for the cafe. Create a CRM strategy for doing business in the virtual world. Here are a few questions to get you started:

• How can your virtual world help business in the real world?
• How will customer relationships be different in a virtual world?
• What is your strategy for managing customer relationships in this new virtual environment?
• How will supporting Second Life customers differ from supporting traditional customers?
• How will supporting Second Life customers differ from supporting Web site customers?
• What customer security issues might you encounter in Second Life?
• What customer ethical issues might you encounter in Second Life?

Some cultures have built-in mechanism that allow people to take more control over their own health care and outcomes in an accepted way. How do you feel about the Hmong rejecting hospital care and refusing medication instructions? When do you have ultimate control over your health outcomes and under what circumstances are your choices limited?  Is the decision to end one's own life a choice that everyone in America should have? How does assisted suicide different from the choice to elect Hospice care?

SHORT ANSWER. Write the word or phrase that best completes each statement or answers the question.

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Data were collected on the number of people entering an electronics store each hour. The data are presented below.

23 35 42 28 29 17 38 21 49 52 46 37 25 49 37 25 28 13 29 43

1) Construct a stem-and-leaf display of the data. 1) 2) Construct a frequency distribution of the data. 2) 3) Construct cumulative frequency and cumulative percent distributions of the data. 3)

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The police lieutenant in charge of the traffic division has reviewed the number of traffic citations issued per day by each of the 10 police officers in his division. The data were: 13, 21, 12, 34, 31, 13, 22, 26, 25, and 23.

4) What is the standard deviation for the number of citations issued per day?

5) What is the interquartile range for the number of citations issued per day?

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: The annual percentage returns on two stocks over a 7-year period were as follows:

4) 5)

6) 7)

Stock A: 4.01% 14.31% 19.01% -14.69% -26.49% Stock B: 6.51% 4.41% 3.81% 6.91% 8.01%

6) Compare the means of these two population distribution.

8.01% 5.81%

5.81% 5.11%

7) Compare the standard deviations of these two population distributions.

8) Compute an appropriate measure of dispersion for both stocks to measure the risk of 8)

these investment opportunities. Which stock is more volatile?

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The following numbers represent the distance, in miles, that randomly selected ten employees of a firm must travel each way to work from home: 6.5, 14.8, 18.6, 6.5, 17.4, 12.3, 1.9, 12.9, 11.1, and 8.0.

9) Calculate the mean number of miles driven by the ten employees. 9) 10) The standard deviation of the number of miles driven by the ten employees is: 10)

1

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
In a recent survey, 12 students at a local university were asked approximately how many hours per week they spend on the Internet. Their responses were: 13, 0, 5, 8, 22, 7, 3, 0, 15, 12, 13, and 17.

11) What is the coefficient of variation for this data? 11)

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A small accounting office is trying to determine its staffing needs for the coming tax season. The manager has collected the following data: 46, 27, 79, 57, 99, 75, 48, 89, and 85. These values represent the number of returns the office completed each year over the entire nine years it has been doing tax returns.

12. 12) For this data, what is the mean number of tax returns completed each year? 12)

13. 13) For this data, what is the median number of tax returns completed each year? 13)

14. 14) For this data, what is the variance of the number of tax returns completed each year? 14)

15. 15) For this data, what is the interquartile for the number of tax returns completed each 15) year?

16. 16) For this data, what is the coefficient of variation for the number of tax returns 16) completed each year?

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Consider the following (x, y) sample data: (53, 37), (34, 26), (10, 29), (63, 55), (28, 36), (58, 48), (28, 41), (50, 42), (39, 21), and (35, 46).

17. 17) Calculate the correlation coefficient sample data. 17)

18. 18) A company produces flashlight batteries with a mean lifetime of 5,200 hours and a 18) standard deviation of 100 hours.
    a. Find the z-score for a battery which lasts only 5,100 hours
    b. Find the z-score for a battery which lasts 5,300 hours

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
The data presented below were collected on the amount of time, in hours; it takes an employee, to process an order at a local plumbing wholesaler.

2.8 5.5

4.9 0.5 13.2 14.2 8.9 3.7 15.2 10.2 1.1 14.2 7.8 4.5 10.9 8.8

19. 19) Construct a stem-and-leaf display of the data.

20. 20) Construct a frequency distribution of the data.

11.2 13.4 18.2 17.1

19) 20)

21) Consider the following sample data: 153, 178, 203, 410, 310, 231, 190, and 225. Compute 21)

the mean and median. Is the distribution of these numbers skewed to the right, skewed to the left or symmetric? Why?

2

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
Production records for an automobile manufacturer show the following figures for production per shift (maximum production is 720 cars per shift):

693 716 630 706 693 672 699 635 552 708 693 702 708 661 682 705 707 693 696 669 693 684 713 704 672 708

22. 22) Would the mode be a useful summary statistic for these data? Why? 22)

23. 23) Find the median. 23)

24. 24) Find the mean. 24)

25. 25) What does the relation between the mean and median indicate about the shape of the 25) data?

26. 26) For a particular sample of 50 scores on a statistics exam, the following results were 26) obtained:

    Mean = 78 Median = 80 Mode = 84 Range = 52 First quartile = 68 Third quartile = 94 Standard deviation = 11

    What score was earned by more students than any other score? Why?

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION: Calculate the following sample observations on fracture strength:
128, 131, 142, 168, 87, 93, 105, 114, 96, and 98.

27. 27) Calculate and interpret the value of the sample mean 27)

28. 28) Calculate and interpret the value of the sample standard deviation, 28)

29. 29) Use the following data to construct a box-and-whiskers plot. Find the minimum value, 29) median, first quartile, third quartile, and maximum value.

    18 27 34 52 54 59 61 68 78 82 85 87 91 93 100

30. 30) Calculate the location of the 25th, 50th, and 75th percentile and their values, using the 30) following data:

    0 0 5 7 8 9 12 14 22 33

Please show all work thanks        

Refer to the Lincolnville School District bus data.

Conduct a test of hypothesis to reveal whether the mean maintenance cost is equal for each of the bus manufacturers. Use the .01 significance level.

Conduct a test of hypothesis to determine whether the mean miles traveled since the last maintenance is equal for each bus manufacturer. Use the .05 significance level.

Show work in Excel.