Thomlin Company forecasts that total overhead for the current year will be $12,464,000 with 152,000 total machine hours. Year to date, the actual overhead is $8,299,800, and the actual machine hours are 95,400 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is
a.$283,000 underapplied
b.$477,000 overapplied
c.$283,000 overapplied
d.$477,000 underapplied
In: Accounting
For a certain year a study reports that the percentage of college students using credit cards was 87%. A college dean of student services claims that this is too high for her university, so she randomly selects 50 students and finds that 40 of them use credit cards. At = 0.10 is she correct?
State:__________________________________ CV: use table E, F, G, CV=___________________ TV: z, t, or 2 (circle one), TV=________________ Decide:________________________________ Summary: (remember to circle the correct description before completing the statement) There is/is not enough evidence to reject/support the claim that______________________ ________________________________________________________________________ _______________________________________________________________________
In: Statistics and Probability
The records of Alaska Company provide the following information for the year ended December 31. At Cost At Retail January 1 beginning inventory $ 473,150 $ 928,950 Cost of goods purchased 2,699,294 6,281,150 Sales 5,513,700 Sales returns 46,400 Required: 1. Use the retail inventory method to estimate the company’s year-end inventory at cost. 2. A year-end physical inventory at retail prices yields a total inventory of $1,693,800. Prepare a calculation showing the company’s loss from shrinkage at cost and at retail.
In: Accounting
Tailor Johnson, a U.S. maker of fine menswear, has a subsidiary in Ethiopia. This year, the subsidiary reported and repatriated earnings before interest and taxes (EBIT) of 195 million Ethiopian birrs. The current exchange rate is 9.8039 birrs/dollar or Upper S equals $ 0.1020 divided by birrS=$0.1020/birr. The Ethiopian tax rate on this activity is 27%. U.S. tax law requires Tailor Johnson to pay taxes on the Ethiopian earnings at the same rate as on profits earned in the United States, which is currently 43%. However, the United States gives a full tax credit for foreign taxes paid up to the amount of the U.S. tax liability. What is Tailor Johnson's U.S. tax liability on its Ethiopian subsidiary?
Tailor Johnson's U.S. tax liability on its Ethiopian subsidiary is $_______million. (Round to two decimal places.)
In: Finance
A. During the year, a farmer pays $1000 principal and $500 interest on a tractor loan. His annual depreciation expense is $4000. His operating expenses including fuel, oil, and repairs total $500 for the year (ignore fuel tax credits). His marginal tax rate is 25%. What is his after-tax cost of using the tractor for the year?
B. If the farmer leased the tractor for the year for $1200, how
much
would his after-tax cost of using the tractor be?
In: Finance
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||
| Total cash receipts | $ | 320,000 | $ | 440,000 | $ | 370,000 | $ | 390,000 |
| Total cash disbursements | $ | 372,000 | $ | 342,000 | $ | 332,000 | $ | 352,000 |
The company’s beginning cash balance for the upcoming fiscal year
will be $27,000. The company requires a minimum cash balance of
$10,000 and may borrow any amount needed from a local bank at a
quarterly interest rate of 3%. The company may borrow any amount at
the beginning of any quarter and may repay its loans, or any part
of its loans, at the end of any quarter. Interest payments are due
on any principal at the time it is repaid. For simplicity, assume
that interest is not compounded.
Required:
Prepare the company’s cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.)
In: Accounting
Garden Depot is a retailer that is preparing its budget for the upcoming fiscal year. Management has prepared the following summary of its budgeted cash flows:
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||
| Total cash receipts | $ | 320,000 | $ | 440,000 | $ | 370,000 | $ | 390,000 |
| Total cash disbursements | $ | 372,000 | $ | 342,000 | $ | 332,000 | $ | 352,000 |
The company’s beginning cash balance for the upcoming fiscal year
will be $27,000. The company requires a minimum cash balance of
$10,000 and may borrow any amount needed from a local bank at a
quarterly interest rate of 3%. The company may borrow any amount at
the beginning of any quarter and may repay its loans, or any part
of its loans, at the end of any quarter. Interest payments are due
on any principal at the time it is repaid. For simplicity, assume
that interest is not compounded.
Required:
Prepare the company’s cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.)
In: Accounting
In: Nursing
Consider a population that begins growing exponentially at a base rate of 4.8% per year and then follows a logistic growth pattern. If the carrying capacity is 60 million, find the actual fractional growth when the population is at 10 million, 30 million, and 50 million.
In: Statistics and Probability
A farmer wants to determine if the average growth of sunflowers is 4.5 ft per year or not. A sample of 41 sunflowers had a mean of 4.25 ft per year and a standard deviation of 0.7 ft per year.
a) This is a two-sided test;state the hypotheses.
b) State the rejection region for α=0.05
c)Will you reject or retain the null hypothesis? Show all work to support your answer.
d) Find the 95% confidence interval for average growth of sunflowers.Is the value of µ0 inside the 95% confidence interval?
In: Statistics and Probability