On the midnight shift,
the number of patients with head trauma in an emergency room has
the probability distribution shown below.
| x | 0 | 1 | 2 | 3 | 4 | 5 | Total |
| P(x) | .09 | .32 | .27 | .17 | .11 | .04 | 1.00 |
(a) Calculate the mean and standard deviation.
(Round your mean value to 2 decimal places and standard
deviation to 3 decimal places.)
In: Statistics and Probability
QUESTION 25
The nation's only legal drug enforcement agency is called the:
|
FTC |
||
|
CDC |
||
|
DEA |
||
|
FDA |
QUESTION 26
Certificates of registration for pharmacist licensure are granted in most states for a period of:
|
1 to 2 years |
||
|
2 to 3 years |
||
|
3 to 4 years |
||
|
4 to 5 years |
QUESTION 27
In the United States, drug legislation began in the:
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1700s |
||
|
1800s |
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1900s |
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|
1950s |
In: Nursing
Using the data in the following table, and the fact that the correlation of A and B is 0.39, calculate the volatility (standard deviation) of a portfolio that is 70% invested in stock A and 30% invested in stock B.
|
Realized Returns |
||||
|
Year |
Stock A |
Stock B |
||
|
2008 |
−8% |
27% |
||
|
2009 |
17% |
28% |
||
|
2010 |
1% |
11% |
||
|
2011 |
−3% |
−2% |
||
|
2012 |
1% |
−3% |
||
|
2013 |
8% |
26% |
||
The standard deviation of the portfolio is _%?
In: Finance
On January 15, 2021, Concord Company enters into a contract to build custom equipment for Shamrock Company. The contract specified a delivery date of March 1. The equipment was not delivered until March 31. The contract required full payment of $75,000 30 days after delivery. The revenue for this contract should be ...?
In: Accounting
On April 1, 2021, a company loans one of its suppliers $52,000 and accepts a 30-month, 12% note receivable.
Calculate the amount of interest revenue the company will recognize in 2021, 2022, and 2023. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar.)
In: Accounting
In the divisional structure, if there were a separate sales organization responsible for providing revenue for each of the divisions, what are advantages and disadvantages of such a structure?
What if the structure was that way from the outset and an acquisition was made of a company with its own sales force. how hard would it be to integrate the acquired company into the new structure?
In: Operations Management
Swathmore Clothing Corporation grants its customers 30 days' credit. The company uses the allowance method for its uncollectible accounts receivable. During the year, a monthly bad debt accrual is made by multiplying 2% times the amount of credit sales for the month. At the fiscal year-end of December 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly.
At the end of 2017, accounts receivable were $608,000 and the allowance account had a credit balance of $72,000. Accounts receivable activity for 2018 was as follows:
| Beginning balance | $608,000 |
|---|---|
| Credit sales | 2,790,000 |
| Collections | (2,653,000) |
| Write-offs | (56,000) |
| Ending balance | $689,000 |
The company's controller prepared the following aging summary of year-end accounts receivable:
| Summary | ||
|---|---|---|
| Age Group | Amount | Percent Uncollectible |
| 0-60 days | $455,000 | 5% |
| 61-90 days | 76,000 | 14 |
| 91-120 days | 66,000 | 25 |
| Over 120 days | 92,000 | 40 |
| Total | $689,000 |
Required:
1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year.
2. Prepare the necessary year-end adjusting entry for bad debt expense.
3-a. What is total bad debt expense for 2018?
3-b. How would accounts receivable appear in the 2018 balance sheet?
In: Accounting
Swathmore Clothing Corporation grants its customers 30 days' credit. The company uses the allowance method for its uncollectible accounts receivable. During the year, a monthly bad debt accrual is made by multiplying 3% times the amount of credit sales for the month. At the fiscal year-end of December 31, an aging of accounts receivable schedule is prepared and the allowance for uncollectible accounts is adjusted accordingly.
At the end of 2012, accounts receivable were dollar 586.000 and the allowance account had a credit balance of dollar 50,000. Accounts receivable activity for 2013 was as follows:
| Beginning balance | $586,000 |
|---|---|
| Credit sales | 2,680,000 |
| Collictions | (2,543,000) |
| Write-offs | (45,000) |
| Ending balance | $678,000 |
The company's controller prepared the following aging summary of year-end accounts receivable:
| Summary | ||
|---|---|---|
| Age Group | Amount | Percent Uncollectible |
| 0 -60 days | $400,000 | 4% |
| 61-90 days | 95,000 | 15 |
| 91-120 days | 55,000 | 25 |
| Over 120 days | 128,000 | 36 |
| Total | $678,000 |
Required:
1. Prepare a summary journal entry to record the monthly bad debt accrual and the write-offs during the year. (If no entry is required for a particular event, select "No journal entry required" in the first account field.)
2. Prepare the necessary year-end adjusting entry for bad debt expense. (If no entry is required for an event, select "No journal entry required" in the first account field.)
3.1 What is total bad debt expense for 2013?
3.2 Calculate the amount of accounts receivable that would appear in the 2013 balance sheet?
In: Accounting
Swathmore Clothing Corporation grants its customers 30 days’
credit. The company uses the allowance method for its uncollectible
accounts receivable. During the year, a monthly bad debt accrual is
made by multiplying 2% times the amount of credit sales for the
month. At the fiscal year-end of December 31, an aging of accounts
receivable schedule is prepared and the allowance for uncollectible
accounts is adjusted accordingly.
At the end of 2020, accounts receivable were $588,000 and the
allowance account had a credit balance of $52,000. Accounts
receivable activity for 2021 was as follows:
| Beginning balance | $ | 588,000 | ||
| Credit sales | 2,690,000 | |||
| Collections | (2,553,000 | ) | ||
| Write-offs | (46,000 | ) | ||
| Ending balance | $ | 679,000 | ||
The company’s controller prepared the following aging summary of
year-end accounts receivable:
| Summary | ||||
| Age Group | Amount | Percent Uncollectible | ||
| 0−60 days | $ | 405,000 | 3 | % |
| 61−90 days | 96,000 | 10 | ||
| 91−120 days | 56,000 | 26 | ||
| Over 120 days | 122,000 | 37 | ||
| Total | $ | 679,000 | ||
Required:
1. Prepare a summary journal entry to record the
monthly bad debt accrual and the write-offs during the year.
2. Prepare the necessary year-end adjusting entry
for bad debt expense.
3-a. What is total bad debt expense for
2021?
3-b. How would accounts receivable appear in the
2021 balance sheet?
In: Accounting
Sara’s Salsa Company produces its condiments in two types: Extra
Fine for restaurant customers and Family Style for home use. Salsa
is prepared in department 1 and packaged in department 2. The
activities, overhead costs, and drivers associated with these two
manufacturing processes and the company’s production support
activities follow.
| Process | Activity | Overhead cost | Driver | Quantity | ||
| Department 1 | Mixing | $ | 5,800 | Machine hours | 2,200 | |
| Cooking | 12,900 | Machine hours | 2,200 | |||
| Product testing | 113,800 | Batches | 1,000 | |||
| $ | 132,500 | |||||
| Department 2 | Machine calibration | $ | 315,000 | Production runs | 500 | |
| Labeling | 20,000 | Cases of output | 145,000 | |||
| Defects | 9,000 | Cases of output | 145,000 | |||
| $ | 344,000 | |||||
| Support | Recipe formulation | $ | 82,000 | Focus groups | 40 | |
| Heat, lights, and water | 33,000 | Machine hours | 2,200 | |||
| Materials handling | 78,000 | Container types | 8 | |||
| $ | 193,000 | |||||
Additional production information about its two product lines
follows.
| Extra Fine | Family Style | |||
| Units produced | 33,000 | cases | 112,000 | cases |
| Batches | 330 | batches | 670 | batches |
| Machine hours | 900 | MH | 1,300 | MH |
| Focus groups | 30 | groups | 10 | groups |
| Container types | 6 | containers | 2 | containers |
| Production runs | 240 | runs | 260 | runs |
Required:
1. Using a plantwide overhead rate based on cases,
compute the overhead cost that is assigned to each case of Extra
Fine Salsa and each case of Family Style Salsa.
2. Using the plantwide overhead rate, determine
the total cost per case for the two products if the direct
materials and direct labor cost is $9 per case of Extra Fine and $8
per case of Family Style.
3.a. If the market price of Extra Fine Salsa is
$18 per case and the market price of Family Style Salsa is $12 per
case, determine the gross profit per case for each product.
3.b. What might management conclude about the
Family Style Salsa product line?
In: Accounting