SHOW WORK FOR BOTH PROBLEMS PLEASE!!!

1.) The Heating Division of Kobe International produces a heating element that it sells to its customers for $47 per unit. Its variable cost per unit is $30, and its fixed cost per unit is $8. Top management of Kobe International would like the Heating Division to transfer 14,700 heating units to another division within the company at a price of $35. The Heating Division is operating at full capacity. Assume that the units being requested are special high-performance units and that the division's variable cost would be $24 per unit (rather than $30). What is the minimum transfer price that the Heating Division should accept?

Minimum transfer price =

2.) Mussatto Corporation produces snowboards. The following per unit cost information is available: direct materials $15, direct labor $9, variable manufacturing overhead $10, fixed manufacturing overhead $12, variable selling and administrative expenses $5, and fixed selling and administrative expenses $8. Using a 39% markup percentage on total per unit cost, compute the target selling price. (Round answer to 2 decimal places, e.g. 10.50.)

Target selling price=

peedy Auto Repairs uses a job-order costing system. The company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. Speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room.

The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates:

Required:

1. Compute the predetermined overhead rate.

2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job:

Compute Mr. Wilkes’ total job cost.

3. If Speedy establishes its selling prices using a markup percentage of 30% of its total job cost, then how much would it have charged Mr. Wilkes?

Propane Company uses a job-order costing system and started the month of
March with three jobs in process. The cost of beginning work in process
plus the costs added during March are shown below:

                                   Job #1        Job #2        Job #3
beginning work in process .....    $4,930        $4,970        $2,840

COSTS ADDED DURING MARCH:
direct materials ..............    $3,400        $4,200        $4,600
direct labor ..................    $5,000        $4,000           ?

Propane applies overhead to jobs based on a percentage of direct materials
used. During March, Propane completed both Job #2 and Job #3. Job #1 was
not completed by the end of March. Job #2 consisted of 1,700 units; some
of these units were sold during March. None of the units from Job #3 were
sold in March. Propane Company's accounting records for March disclosed
the following information:

Work in process inventory balance at March 31 ..........  $15,880
Actual overhead cost for the month of March ............  $ 8,500
Cost of goods sold for March ...........................  $11,830
Finished goods inventory balance at March 31 ...........  $18,870

The cost of goods sold number above represents the cost of goods sold for
March after the overhead variance has been closed for March.

Calculate the direct labor cost added during March for Job #3 and cost of goods manufactured for March.

Jackie-O-Ville Delights manufactures two products, truffles and fudge. The company expects to produce and sell 3,200 cases of truffles and 2,100 cases of fudge during the year. Jackie-O-Ville Delights uses activity-based costing to compute overhead costs per product. Data relating to the company’s three activity cost pools are given below for the current year:

Required:

Using the activity-based costing approach, determine the overhead rates for each activity cost pool. 6 points)

Using the above overhead rates determine the overhead cost charged per case to each product (20 points)

Determine the total cost per unit for each product (6 points)

Calculate the cost per unit under the traditional method of allocating overhead using a plant wide predetermined overhead rate using direct labor cost as the activity level.

Calculate the percentage difference in price if the company desires a 40% product profit margin and how it may impact the Truffles and Fudge market.

An institute reported that 61​% of its members indicate that lack of ethical culture within financial firms has contributed most to the lack of trust in the financial industry. Suppose that you select a sample of 100 institute members. Complete parts ​(a) through ​(d) below.

a. What is the probability that the sample percentage indicating that lack of ethical culture within financial firms has contributed the most to the lack of trust in the financial industry will be between 58​% and 62​%?

​(Type an integer or decimal rounded to four decimal places as​ needed.)

b. The probability is 80​% that the sample percentage will be contained within what symmetrical limits of the population​ percentage?

The probability is 80​% that the sample percentage will be contained above _ and below _

​(Type integers or decimals rounded to one decimal place as​ needed.)

c. The probability is 91​% that the sample percentage will be contained within what symmetrical limits of the population​ percentage?

The probability is 91​% that the sample percentage will be contained above _ and below _

(Type integers or decimals rounded to one decimal place as​ needed.)

d. Suppose you selected a sample of 400 institute members. How does this change your answers in ​(a) through

​(c)​?

A.

An increase in sample size decreases the standard​ error, causing the value of the answer to part ​(a) to increase and the ranges in parts ​(b) and ​(c) to narrow.

Your answer is correct.

B.

An increase in sample size increases the standard​ error, causing the value of the answer to part ​(a) to increase and the ranges in parts ​(b) and ​(c) to widen.

C.

An increase in sample size decreases the standard​ error, causing the value of the answer to part ​(a) to decrease and the ranges in parts ​(b) and ​(c) to narrow.

D.

An increase in sample size increases the standard​ error, causing the value of the answer to part ​(a) to decrease and the ranges in parts ​(b) and ​(c) to widen.

An institute reported that 63 % of its members indicate that lack of ethical culture within financial firms has contributed most to the lack of trust in the financial industry. Suppose that you select a sample of 100 institute members. Complete parts (a) through (d) below.

a. What is the probability that the sample percentage indicating that lack of ethical culture within financial firms has contributed the most to the lack of trust in the financial industry will be between 56 % and 67 %? _______

(Type an integer or decimal rounded to four decimal places as needed.)

b. The probability is 90% that the sample percentage will be contained within what symmetrical limits of the population percentage?

The probability is 90 % that the sample percentage will be contained above____ % and below_____ %. (Type integers or decimals rounded to one decimal place as needed.)

c. The probability is 97% that the sample percentage will be contained within what symmetrical limits of the population percentage?

The probability is 97 % that the sample percentage will be contained above____ % and below_____ %.

(Type integers or decimals rounded to one decimal place as needed.)

d. Suppose you selected a sample of 400 institute members. How does this change your answers in (a) through (c) ?

A. An increase in sample size increases the standard error, causing the value of the answer to part (a) to decrease and the ranges in parts (b) and (c) to widen.

B. An increase in sample size decreases the standard error, causing the value of the answer to part (a) to decrease and the ranges in parts (b) and (c) to narrow.

C. An increase in sample size increases the standard error, causing the value of the answer to part (a) to increase and the ranges in parts (b) and (c) to widen.

D. An increase in sample size decreases the standard error, causing the value of the answer to part (a) to increase and the ranges in parts (b) and (c) to narrow.

Coupon payments are fixed, but the percentage return that investors receive varies based on market conditions. This percentage returned is referred to as a yield.

A bond’s yield to maturity (YTM) is the percentage return that it is expected to generate if the bond is assumed to be held until it matures. Calculating a bond’s YTM requires you to make several assumptions. Which of the following is one of these assumptions?

The bond is callable.

The probability of default is zero.

Consider the following case of Purple Whale Foodstuffs Inc.:

Purple Whale Foodstuffs Inc. has 9% annual coupon bonds that are callable and have 18 years left until maturity. The bonds have a par value of $1,000, and their current market price is $1220.35. However, Purple Whale Foodstuffs Inc. may call the bonds in eight years at a call price of $1,060.

What are the YTM and yield to call (YTC) on bonds?

Purple Whale Foodstuffs Inc.’s bonds have a yield-to-maturity (YTM) of    and a yield-to-call (YTC) of   .

If interest rates are expected to remain constant, what is the best estimate of the remaining life left for Purple Whale Foodstuffs Inc.’s bonds?

18 years

8 years

5 years

13 years

If Purple Whale Foodstuffs Inc. issued new bonds today, what coupon rate must the bonds have to be issued at par?

Suppose a bank quotes $/€ = 1.1045-1.1506. What is the bid-ask spread in percentage? Do not write any symbol. Express your answers as a percentage. Make sure to round your answers to the nearest 100th decimal points. For example, write 12.34 for 12.34%.