Which is the optimal return combination for both the US/UK and US Spain?

US Billions USD
Increase in foreign holdings of US assets 84
Increase in US holdings of foreign assets 82
Statistical Discrepancy 32
Current Account Balance
Refer to the above table. The Current Account Balance =

1. Based on historical data, your manager believes that 31% of the company's orders come from first-time customers. A random sample of 146 orders will be used to estimate the proportion of first-time-customers. What is the probability that the sample proportion is greater than than 0.22?
Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations.

2. Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 157000 dollars. Assume the standard deviation is 39000 dollars. Suppose you take a simple random sample of 84 graduates.
Find the probability that a single randomly selected salary is less than 160000 dollars.
Answer =
Find the probability that a sample of size n=84 n=84 is randomly selected with a mean that is less than 160000 dollars.
Answer =
Enter your answers as numbers accurate to 4 decimal places.

Today is December 31, 2018. Today, we started the Hilo Tourism Company. To start the business, the owners have invested $25,000 into the business from their own pocket. In addition, the company borrowed $15,000 at a 10 percent simple interest rate. Thus, the company has $40,000 to work with. The company will use $10,000 of this money for operating cash. The company will use the remaining money to purchase a tourism van for $30,000 on December 31st. The company will pay interest only on the loan. The Hilo Tourism Company will contract our services to Royal Cruise Line who has agreed to pay us $160,000 in the year 2019 for providing tours to high-class customers from the Hilo dock to the Volcano. All sales are cash sales. Hilo Tourism Company will have the following expenses in the year 2019. The van will wear out by $5,000 per year. Insurance will cost $12,000 per year. It will cost $20,000 per year for the driver and $16,000 per year for the tour guide. Fuel and repairs combined will cost $40,000 per year. All operating expenses, except depreciation, are cash operating expenses. The company is in a 10 percent tax bracket. One half of the firm’s 2019 net income will be paid out to the owners as a dividend and the other half of the firm’s net income will be retained within the firm. Create a Statement of Cash Flows for the year ending, December 31, 2019. CREATE ONLY A STATEMENT OF CASH FLOWS TO ANSWER THIS QUESTION. I WILL ASK YOU TO PRODUCE ADDITIONAL STATEMENTS IN OTHER QUESTIONS

Sweet Corporation is in the dairy business. Products go through two production departments (A first, then B). Data from those departments for October 2020 are presented below.

Complete the four steps necessary to prepare a production cost report.

Department A
Department B

Beginning work in process
Beginning work in process

Number of units
1,000
200

% complete for materials
100%

% complete for transferred-in

100%

% complete for conversion
60%
30%

Total materials cost
$24,000
-0-

Total conversion cost
$30,000
$40,000

Total transferred-in costs

$15,000

Department A
Department B

Ending work in process
Ending work in process

Number of units
600
300

% complete for materials
100%

% complete for transferred-in

100%

% complete for conversion
30%
40%

Sweet Corporation started 2,600 units of product during the month in department A. Costs incurred in department A for October 2020 totalled $64,000 for material and $132,000 for conversion. Additionally, department B incurred conversion costs in October 2020 of $600,000. Department B adds no materials to the product.
Instructions

a. Journalize the transfer of goods from department A to department B during October 2020. Sweet Corporation accounts for its costs using the weighted-average method.

$226,163

b. Prepare a production cost report for department B for October 2020.

Total cost of units completed: $833,123 (Weygandt, 12/2017, pp. 159-160) Weygandt, J. J., Kimmel, P. D., Kieso, D. E., Aly, I. M. (2017). Managerial Accounting: Tools for Business Decision-Making, Canadian Edition, 5th Edition. [[VitalSource Bookshelf version]]. Retrieved from vbk://9781119403999 Always check citation for accuracy before use.

David Gain was the chief executive officer (CEO) of Forest Media Corp., which became interested in acquiring RS Communications, Inc. To initiate negotiations, Gain met with RS’s CEO, Gill Raz, on Friday, July 12. Two days later, Gain phoned his brother Mark, who bought 3,800 shares of RS stock on the following Monday. Mark discussed the deal with their father, Jordan, who bought 20,000 RS shares on Thursday. On July 25, the day before the RS bid was due, Gain phoned his parents’ home, and Mark bought another 3,200 RS shares. The same routine was followed over the next few days, with Gain periodically phoning Mark or Jordan, both of whom continued to buy RS shares. Forest’s bid was refused, but on August 5, RS announced its merger with another company. The price of RS stock rose 30 percent, increasing the value of Mark’s and Jordan’s shares by $664,024 and $412,875, respectively.

1) Did Gain engage in insider trading? Explain.

2) What is required to impose sanctions for this offense? Explain.

3) Could a court hold Gain liable? Why or why not? Explain.

DaisyRose, Inc is an accounting firm with 30 accountants and has about $3 million annually in net revenues. They are located in an older office building that has a standard elevator. The accountant job descriptions require that they be able to analyze and prepare financial statements and tax returns for clients.

One of the accountants on staff, Iris, has developed macular degeneration and   because of that cannot see a standard computer screen. His doctors have told him that in the next few months he will not be able to see any computer screen. Iris has learned braille (raised type that allow those without sight to read). Iris approaches the CEO of DaisyRose to indicate that he needs voice activated software for his computer and that he would also need the computer to print in Braille so that he could read the returns and statements. Iris has also asked that the elevators be equipped with Braille on the touchpad so that he knows the proper buttons for each floor. The CEO calculates that all of these requests will cost about $100,000 up front and about $20,000 per year after that initial investment.

Please evaluate these facts under the Americans with Disabilities Act to determine whether or not the company will need to make the requested changes.

Rainy Day Company manufactures a unique umbrella. The company began operations April 1, 2020. Its accountant quit the second week of operations, and the company is searching for a replacement. The company has decided to test the knowledge and ability of all candidates interviewing for the position. Each candidate will be provided with the information below and then asked to prepare a series of reports, schedules, budgets, and recommendations based on that information. The information provided to each candidate is as follows.Cost Items and Account Balances Administrative salaries $11,250 Advertising 15,250 Cash, April 1 –0– Depreciation on factory building 1,500 Depreciation on office equipment 800 Insurance on factory building 1,500 Miscellaneous expenses—factory 1,000 Office supplies expense 300 Professional fees 500 Property taxes on factory building 400 Raw materials used 70,000 Rent on production equipment 6,000 Research and development 10,000 Sales commissions 40,000 Utility costs—factory 900 Wages—factory 70,000 Work in process, April 1 –0– Work in process, April 30 –0– Raw materials inventory, April 1 –0– Raw materials inventory, April 30 –0– Raw material purchases 70,000 Finished goods inventory, April 1 –0– Production and Sales Data Number of umbrellas produced 10,000 Expected sales in units for April ($40 unit sales price) 8,000 Expected sales in units for May 10,000 Desired ending inventory 20% of next month’s sales Direct materials per finished unit 1 kilogram Direct materials cost $7 per kilogram Direct labor hours per unit .35 Direct labor hourly rate $20Cash Flow Data Cash collections from customers: 75% in month of sale and 25% the following month. Cash payments to suppliers: 75% in month of purchase and 25% the following month. Income tax rate: 45%. Cost of proposed production equipment: $720,000. Manufacturing overhead and selling and administrative costs are paid as incurred. Desired ending cash balance: $30,000. Instructions Using all the data presented above, do the following.

Questions: 11. Prepare a flexible budget for manufacturing costs for activity levels between 8,000 and 10,000 units, in 1,000-unit increments. 12. Identify one potential cause of direct materials, direct labor, and manufacturing overhead variances in the production of the umbrella. 13. Determine the cash payback period on the proposed production equipment purchase, assuming a monthly cash flow as indicated in the cash budget

Rainy Day Company manufactures a unique umbrella. The company began operations April 1, 2020. Its accountant quit the second week of operations, and the company is searching for a replacement. The company has decided to test the knowledge and ability of all candidates interviewing for the position. Each candidate will be provided with the information below and then asked to prepare a series of reports, schedules, budgets, and recommendations based on that information. The information provided to each candidate is as follows.

Cost Items and Account Balances

Administrative salaries                                   $11,250

Advertising                                                      15,250

Cash, April 1                                            –0–

Depreciation on factory building                        1,500

Depreciation on office equipment                        800

Insurance on factory building                             1,500

Miscellaneous expenses—factory                      1,000

Office supplies expense                                         300

Professional fees                                                    500

Property taxes on factory building                        400

Raw materials used                                          70,000

Rent on production equipment                          6,000

Research and development                              10,000

Sales commissions                                            40,000

Utility costs—factory                                             900

Wages—factory                                                70,000

Work in process, April 1                         –0–

Work in process, April 30                       –0–

Raw materials inventory, April 1            –0–

Raw materials inventory, April 30         –0–

Raw material purchases                                   70,000

Finished goods inventory, April 1           –0–

Production and Sales Data

Number of umbrellas produced                     10,000

Expected sales in units for April

($40 unit sales price)                                       8,000

Expected sales in units for May                      10,000

Desired ending inventory                               20% of next month’s sales

Direct materials per finished unit                   1 kilogram

Direct materials cost                                       $7 per kilogram

Direct labor hours per unit                             .35

Direct labor hourly rate                                  $20

Cash Flow Data

Cash collections from customers: 75% in month of sale and 25% the following month.

Cash payments to suppliers: 75% in month of purchase and 25% the following month.

Income tax rate: 45%.

Cost of proposed production equipment: $720,000.

Manufacturing overhead and selling and administrative costs are paid as incurred.

Desired ending cash balance: $30,000.

Question: Prepare the Budgeted Income Statement for the Month of April 2020.