Use the following information for Exercises 10-45, 10-46, and 10-47:

Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor:

leather (3 strips @ $4) $12.000

direct labor (0.75 hr @ $12.00). 9.00

total prime cost $21.00

During the first month of the year, the Boise plant produced 92,000 belts. Actual leather purchased was 287,500 strips at $3.60 per strip. There was no beginning or ending inventories of leather. Actual direct labor was 78,200 hours at $12.50 per hour.

Materials Variances

Objective 3

Refer to the information for Cinturon Corporation above.

Required:

1. Break down the total variance for materials into a price variance and a usage variance using the columnar and formula approaches.

2. Conceptual Connection Suppose the Boise plant manager investigates the materials variances and is told by the purchasing manager that a cheaper source of leather strips had been discovered and that this is the reason for the favorable materials price variance. Quite pleased, the purchasing manager suggests that the materials price standard be updated to reflect this new, less expensive source of leather strips. Should the plant manager update the materials price standard as suggested? Why or why not?

The data is the square footage and selling price of single-family homes for the month of February and the first week of March.

1. Make a scatter plot, including the regression line and its equation.
2. Use an appropriate Excel function to find the correlation coefficient r. Determine the type of linear relationship, if any.
3. Interpret the slope and y-intercept, if appropriate, in the context of the data.
4. Use an appropriate Excel function and the data to find a predicted(average) selling price for a single- family house measuring 1960 square feet. Does the house that measured 1960 square feet in the sample have a selling price that is below or above average, and why?

"Please can I get a feedback on this discussion post below" Can I get it in 2 hours please .thanks

Tesla is a company recently in the news for a conflict of interest between the SEC and the CEO Elon Musk due to an interest to bring the company private by the CEO who shared on Twitter his short term plans. Production issues, a number of layoffs and the increasing demand for the electric vehicles were expressed by the CEO as reasons to bring the company private that would allow the company to restructure its company internally. The company has since rescinded its position remaining as a public company. The SEC stated that it was swaying investors by stating that the company would do so when it reached a stock price of $420 forcing investors to make a decision or artificially driving the stock price to the sale price in order to bring the company private faster. Elon Musk has previously tweeted about its stock price in terms of its standing in the market however this is the first where the market has reacted to his tweets negatively. Possible solutions to the situation would be to address investors by other measures in addition to Twitter. Twitter being a social network for CEO’s to interact with customers and investors directly however a more formal approach might have been ideal in this situation.

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $22.75 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below:

The total cost of operating the company for the year is $349,000 which includes the following costs:

Resource consumption is distributed across the activities as follows:

Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on.

Required:

1. Prepare the first-stage allocation of costs to the activity cost pools.

2. Compute the activity rates for the activity cost pools.

3. The company recently completed a 600 square foot carpet-cleaning job at the Flying N Ranch—a 54-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system.

4. The revenue from the Flying N Ranch was $136.50 (600 square feet @ $22.75 per hundred square feet). Calculate the customer margin earned on this job.

Complete this question by entering your answers in the tabs below.

• Required 1

Prepare the first-stage allocation of costs to the activity cost pools.

Required 2

Compute the activity rates for the activity cost pools. (Round your answers to 2 decimal places.)

• Required 3

The company recently completed a 600 square foot carpet-cleaning job at the Flying N Ranch—a 54-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system. (Round your intermediate calculations and final answer to 2 decimal places.)

Required 4

The revenue from the Flying N Ranch was $136.50 (6 hundred square feet @ $22.75 per hundred square feet). Calculate the customer margin earned on this job. (Negative customer margins should be indicated with a minus sign. Round your intermediate calculations and final answers to 2 decimal places.)

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $22.05 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below:

The total cost of operating the company for the year is $345,000 which includes the following costs:

Resource consumption is distributed across the activities as follows:

Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on.

Required:

1. Prepare the first-stage allocation of costs to the activity cost pools.

2. Compute the activity rates for the activity cost pools.

3. The company recently completed a 200 square foot carpet-cleaning job at the Flying N Ranch—a 60-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system.

4. The revenue from the Flying N Ranch was $44.10 (200 square feet @ $22.05 per hundred square feet). Calculate the customer margin earned on this job.

Complete this question by entering your answers in the tabs below.

Prepare the first-stage allocation of costs to the activity cost pools.

Compute the activity rates for the activity cost pools. (Round your answers to 2 decimal places.)

The company recently completed a 200 square foot carpet-cleaning job at the Flying N Ranch—a 60-mile round-trip journey from the company’s offices in Bozeman. Comp

ute the cost of this job using the activity-based costing system. (Round your intermediate calculations and final answer to 2 decimal places.)

The revenue from the Flying N Ranch was $44.10 (2 hundred square feet @ $22.05 per hundred square feet). Calculate the customer margin earned on this job. (Round your intermediate calculations and final answers to 2 decimal places.)

SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los Angeles area. The company is implementing an activity-based costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries for the Pickup and Delivery cost pool, and number of customers for the Customer Service cost pool. The Other cost pool has no activity measure because it is an organization-sustaining activity. The following costs will be assigned using the activity-based costing system:

The distribution of resource consumption across the activity cost pools is as follows:

Required:

Complete the first stage allocations of costs to activity cost pools.

2.

Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depends on whether the beds are low maintenance beds (mainly ordinary trees and shrubs) or high maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below:

The company already has completed its first stage allocations of costs and has summarized its annual costs and activity as follows:

Required:

Compute the activity rate for each of the activity cost pools. (Round your answers to 2 decimal places except customer billing and service.)

3.

Klumper Corporation is a diversified manufacturer of industrial goods. The company’s activity-based costing system contains the following six activity cost pools and activity rates:

Activity data have been supplied for the following two products:

Required:

How much total overhead cost would be assigned to K425 and M67 using the activity-based costing system?

Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per hundred square feet of carpet cleaned. The current fee is $23.85 per hundred square feet. However, there is some question about whether the company is actually making any money on jobs for some customers—particularly those located on remote ranches that require considerable travel time. The owner’s daughter, home for the summer from college, has suggested investigating this question using activity-based costing. After some discussion, she designed a simple system consisting of four activity cost pools. The activity cost pools and their activity measures appear below:

The total cost of operating the company for the year is $347,000 which includes the following costs:

Resource consumption is distributed across the activities as follows:

Job support consists of receiving calls from potential customers at the home office, scheduling jobs, billing, resolving issues, and so on.

Required:

1. Prepare the first-stage allocation of costs to the activity cost pools.

2. Compute the activity rates for the activity cost pools.

3. The company recently completed a 400 square foot carpet-cleaning job at the Flying N ranch—a 53-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system.

4. The revenue from the Flying N ranch was $95.40 (400 square feet @ $23.85 per hundred square feet). Calculate the customer margin earned on this job.

Complete this question by entering your answers in the tabs below.

• Required 1
• Prepare the first-stage allocation of costs to the activity cost pools

• 	Cleaning Job Carpets Travel to Jobs Support Other Total Wages $0 Cleaning supplies 0 Cleaning equipment depreciation 0 Vehicle expenses 0 Office expenses 0 President’s compensation 0 Total cost $0 $0 $0 $0 $0

• Required 2

• Compute the activity rates for the activity cost pools. (Round your answers to 2 decimal places.)

  	Activity Cost Pool Activity Rate Cleaning carpets per hundred square feet Travel to jobs per mile Job support per job

• Required 3

• The company recently completed a 400 square foot carpet-cleaning job at the Flying N ranch—a 53-mile round-trip journey from the company’s offices in Bozeman. Compute the cost of this job using the activity-based costing system. (Round your intermediate calculations and final answer to 2 decimal places.)

  	Cost of the job

• Required 4

• The revenue from the Flying N ranch was $95.40 (4 hundred square feet @ $23.85 per hundred square feet). Calculate the customer margin earned on this job. (Round your intermediate calculations and final answers to 2 decimal places.)

  	Customer margin

ATTENTION: ALL COMPONENTS / QUESTIONS MUST BE FULLY ANSWERED -- DO NOT USE THE TEXTBOOK SOLUTIONS ALREADY IN PLACE

IF YOU ARE UNABLE TO ANSWER ALL COMPONENTS, PLEASE DO NOT ANSWER. THANK YOU! :)

O’Brien Company manufactures and sells one product. The following information pertains to each of the company’s first three years of operations:

Variable costs per unit:
Manufacturing:
Direct materials . . . . . . . . . . . . . . . . . . . . . . . . $ 32
Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 20
Variable manufacturing overhead . . . . . . . . . . $ 4
Variable selling and administrative . . . . . . . . . $ 3
Fixed costs per year:
Fixed manufacturing overhead . . . . . . . . . . . . $ 660,000
Fixed selling and administrative expenses . . . $ 120,000
During its first year of operations, O’Brien produced 100,000 units and sold 80,000 units. During its second year of operations, it produced 75,000 units and sold 90,000 units. In its third year, O’Brien produced 80,000 units and sold 75,000 units. The selling price of the company’s product is $ 75 per unit.

Required: (ALL COMPONENTS OF ALL 4 QUESTIONS MUST BE ANSWERED -- DO NOT USE THE TEXTBOOK SOLUTIONS ALREADY FOUND IN THIS BOOK)

1. Assume the company uses variable costing and a FIFO inventory flow assumption (FIFO means first-in first-out. In other words, it assumes that the oldest units in inventory are sold first):
a. Compute the unit product cost for Year 1, Year 2, and Year 3.
b. Prepare an income statement for Year 1, Year 2, and Year 3.

2. Assume the company uses variable costing and a LIFO inventory flow assumption (LIFO meanslast-in first-out. In other words, it assumes that the newest units in inventory are sold first):
a. Compute the unit product cost for Year 1, Year 2, and Year 3.
b. Prepare an income statement for Year 1, Year 2, and Year 3.

3. Assume the company uses absorption costing and a FIFO inventory flow assumption (FIFO meansfirst-in first-out. In other words, it assumes that the oldest units in inventory are sold first):

a. Compute the unit product cost for Year 1, Year 2, and Year 3.

b. Prepare an income statement for Year 1, Year 2, and Year 3.

4. Assume the company uses absorption costing and a LIFO inventory flow assumption (LIFO means last-in first-out. In other words, it assumes that the newest units in inventory are sold first):
a. Compute the unit product cost for Year 1, Year 2, and Year 3.
b. Prepare an income statement for Year 1, Year 2, and Year 3.

1. Create a 99% confidence interval for the proportion of cereals that have 100 CALORIES or less per serving based on the samples provided.

1. For all U.S. students nationally who take the SAT, SAT Math scores are normally distributed with an average score of 500 for all U.S. students . A random sample of 100 students entering Whitmer College had an average SAT Math (SAT-M) score of 520 and a sample standard deviation of 120.

The sample data can be used to test the claim that the mean SAT-M score of all Whitmer College students is different than the national mean SAT-M score.

Based on the given information and using the appropriate formula, calculate the test statistic for this hypothesis test. Round your answer to two decimal places. Enter the numeric value of the test statistic in the space below:

2. For all U.S. students nationally who take the SAT, SAT Math scores are normally distributed with an average score of 500 for all U.S. students . A random sample of 100 students entering Whitmer College had an average SAT Math (SAT-M) score of 475 and a sample standard deviation of 120.

The sample data can be used to test the claim that the mean SAT-M score of all Whitmer College students is different than the national mean SAT-M score.

Based on the given information, use the appropriate formula and the provided Standard Normal Table (Z table). Determine the p-value for this two-sided hypothesis test. You will need to calculate the test statistic first. Enter the p-value in the space below as a decimal rounded to four decimal places:

3. For all U.S. students nationally who take the SAT, SAT Math scores are normally distributed with an average score of 500 for all U.S. students . A random sample of 100 students entering Whitmer College had an average SAT Math (SAT-M) score of 520 and a sample standard deviation of 120.

The sample data can be used to test the claim that the mean SAT-M score of all Whitmer College students is different than the national mean SAT-M score.

Based on the given information, use the appropriate formula and the provided Standard Normal Table (Z table). Determine the p-value for this two-sided hypothesis test. You will need to calculate the test statistic first. Enter the p-value in the space below as a decimal rounded to four decimal places: