a.

a. For May 2020, the cost of Direct Materials transferred into the Filling Dept. of a liquid soap company is $20,200. Direct Labor cost incurred for the same department is unknown, and Factory Overhead cost applied to production is 80% of Direct Labor cost. The total cost of finished goods transferred out of the Filling Dept. is $85,600. The cost of beginning work in process (WIP) inventory in the Filling Dept. on May 1 was $12,000 and the ending balance in WIP Inventory-Filling on May 31 is $6,000. Calculate the cost of Direct Labor incurred by the Filling Dept. during May 2020.

b. The following data is taken from the production budget for the year: Beginning finished goods units 11,000; Units to be produced in the first quarter 82,000; First quarter sales units 58,000; Sales units budgeted for the second quarter 68,000. Second quarter finished goods inventory is budgeted at 12,000 units. Calculate units to produce in the second quarter.

If the marginal product of labor is

fallingfalling​,

is the marginal cost of production rising or​ falling? Briefly explain.

If the additional output from each new worker is

fallingfalling​,

How do I compute overhead cost for direct labor?

1. The amount of income spent on housing is an important component of the cost of living. The total costs of housing for homeowners might include mortgage payments, property taxes, and utility costs (water, heat, electricity). An economist selected a sample of 20 homeowners in New England and then calculated these total housing costs as a percent of monthly income, five years ago and now. The information is reported below. At the .05 significance level, is it reasonable to conclude the percent is less now than five years ago?

Really important: Use Excel as described in “How to perform two-sample hypothesis tests” in the content area to do this problem. You can copy the table below into an Excel file—no need to type it. Use the same Excel file that you used for the previous problem, but put each problem on a separate worksheet (you move to another worksheet by clicking the tabs at the bottom). Please name each worksheet by right-clicking on the tab, selecting Rename, and typing the problem number. This is chapter 11, problem 4, so call it “11-4.”

a. State the null and alternate hypotheses.

b. Select alpha.

c. Select the test statistic.

d. Formulate the decision rule.

e. What is the value of the test statistic?

f. Determine and interpret the effect size and p-value.

g. Draw conclusions based on statistical and practical significance.

An important application of regression analysis in accounting is in the estimation of cost. By collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. Consider the following sample of production volumes and total cost data for a manufacturing operation.

a. Compute b₁ and b₀ (to 1 decimal).
b₁ [     ]
b₀ [     ]
Compute the estimated regression equation (to 1 decimal).
ŷ = [ ] + [ ]x

b. What is the variable cost per unit produced (to 1 decimal)?
$[     ]

c. Compute the coefficient of determination (to 3 decimals). Note: report r² between 0 and 1.
r² = [     ]
What percentage of the variation in total cost can be explained by the production volume (to 1 decimal)?
[     ]%

d. The company's production schedule shows 500 units must be produced next month. What is the estimated total cost for this operation (to the nearest whole number)?
$[     ]

3. “The company’s auditors will work hard to attest to the value of the cost of goods sold but because it is a summary number, it is not useful for internal decision-making.” Do you agree with that statement? Why or why not?

A community college claims that the standard deviation in the cost of TI calculators is at least $15. A simple random sample of 43 stores that sell TI calculators yielded a sample mean of $84 and a sample standard deviation of $12 for the cost of TI calculators. Does this data refute the claim made by the community college? Perform a statistical test at the 5% significance level. You may assume that the cost of TI calculators is normally distributed.

(a) Identify the parameter of interest and the hypotheses.

(b) Identify the test or distribution you will use. Give a brief explanation of your answer.

(c) Calculate the p-value.

(d) Make a decision regarding the null hypothesis.

(e) Interpret your answer to (d) by writing a meaningful conclusion.

Louis is analyzing a project and has determined that the initial cost will be $1,380,000 and the required rate of return needs to be 16 percent. The project has a 60 percent chance of success and a 40 percent chance of failure. If the project fails, it will generate an annual after-tax cash flow of $242,000. If the project succeeds, the annual after-tax cash flow will be $666,000. He has further determined that if the project fails, he will shut it down after the first year and sell the equipment for the after-tax salvage value of $420,000. If however, the project is a success, he can expand it with no additional investment and increase the after-tax cash flow to $697,000 a year for Years 2-5. At the end of Year 5, the project would be terminated and have no salvage value. What is the expected net present value of this project at Time 0?

$171,480.74

$183,667.21

$201,500.99

$227,615.75

$239,518.20

What is the NPV for a project if its cost of capital is 0 percent and its initial after-tax cost is $5,000,000 and it is expected to provide after-tax operating cash inflows of $1,800,000 in year 1, $1,900,000 in year 2, $1,700,000 in year 3, and $1,300,000 in year 4?
Select one:
a. $6,700,000
b. $137,053
c. $1,700,000
d. $371,764

Which of the following is TRUE?
Select one:
a. The Gordon model assumes that the value of a share of stock equals the future value of the current price of share that it is expected to remain constant over an infinite time horizon.
b. The marginal cost of capital is a relevant cost of capital for evaluating a firm's future investment opportunities.
c. The Gordon model is based on the premise that the value of a share of stock is equal to the sum of all future dividends it is expected to provide over an infinite time horizon.
d. The cost of retained earnings will always equal the cost of preferred stock.

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Abdul-Rahim Taysir