The mean number of sick days an employee takes per year is believed to be about 10. Members of a personnel department do not believe this figure. They randomly survey 8 employees. The number of sick days they took for the past year are as follows: 11; 6; 13; 5; 9; 9; 6; 8. Let X = the number of sick days they took for the past year. Should the personnel team believe that the mean number is about 10? Conduct a hypothesis test at the 5% level.

Note: If you are using a Student's t-distribution for the problem, you may assume that the underlying population is normally distributed. (In general, you must first prove that assumption, though.)

1. What is the test statistic? (If using the z distribution round your answers to two decimal places, and if using the t distribution round your answers to three decimal places.)

2. What is the p-value? (Round your answer to four decimal places.)

3. Construct a 95% confidence interval for the true mean. Sketch the graph of the situation. Label the point estimate and the lower and upper bounds of the confidence interval. (Round your answers to three decimal places.)

Waterways Corporation is preparing its budget for the coming year, 2020. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process.

Waterways likes to keep 10% of the next month’s unit sales in ending inventory. All sales are on account. 85% of the Accounts Receivable are collected in the month of sale, and 15% of the Accounts Receivable are collected in the month after sale. Accounts receivable on December 31, 2019, totaled $181,800.

Direct Materials

Direct materials cost 80 cents per pound. Two pounds of direct materials are required to produce each unit.

Waterways likes to keep 5% of the materials needed for the next month in its ending inventory. Raw Materials on December 31, 2019, totaled 11,220 pounds. Payment for materials is made within 15 days. 50% is paid in the month of purchase, and 50% is paid in the month after purchase. Accounts Payable on December 31, 2019, totaled $102,605.

Other Information

The Cash balance on December 31, 2019, totaled $100,000, but management has decided it would like to maintain a cash balance of at least $700,000 beginning on January 31, 2020. Dividends are paid each month at the rate of $2.50 per share for 4,720 shares outstanding. The company has an open line of credit with Romney’s Bank. The terms of the agreement requires borrowing to be in $1,000 increments at 9% interest. Waterways borrows on the first day of the month and repays on the last day of the month. A $540,000 equipment purchase is planned for February.

1. Maxie Company is creating their budget for the following year. Here is their relevant information:

Expected Sales 1,000 units per month

Sales Price $15 per unit

Variable Labor costs $3 per unit

Variable Material costs $2 per unit

Fixed Costs $6,000 per month

In the first month of the new year, Maxie Company's operating income was $2,000. What is their static budget operating income variance?

A. $4,000 Favorable

B. $4,000 Unfavorable

C. $2,000 Unfavorable

D. $2,000 Favorable

2. Burton Company produces top hats. They are trying to maximize profits. Here is their relevant information:

Selling price per hat: $50 each

Labor costs per hat: $15

Material costs per hat: $10

Fixed Costs per month: $160,000

Burton Company wants to increase operating income to $100,000 per month. How many hats would they need to sell?

A. 6,400 hats

B. 2,000 hats

C. 10,400 hats

D. 4,000 hats

3. Burton Company produces top hats. They are comparing budgeted to actual results. Burton Company budgeted producing 10,000 hats each month. Here is the rest of their relevant information:

Selling price per hat: $50 each

Labor costs per hat: $15

Material costs per hat: $10

Fixed Costs per month: $160,000

Burton Company produces 8,000 hats in January. Their actual labor costs in January are $125,000. What is the flexible budget variance for labor costs?

A. $25,000 Favorable

B. $5,000 Favorable

C. $5,000 Unfavorable

D. $25,000 Unfavorable

3. Suppose you take out a loan for school this year for $9000. The bank expects that the rate

      of inflation for next year will equal 2%. You and the bank agree that in one year’s time, you

      will pay back the full amount at an interest rate of 5%. Next year though, there is a sudden

      rise in inflation, causing inflation to equal 12%.

      Based upon this information, answer the following questions.

1. 1. How much will you pay back in one year, assuming simple interest?
2. What is the anticipated rate of inflation?
3. What is the unanticipated rate of inflation?
4. What is the real rate of interest?
5. What is the nominal rate of interest?
6. Who wins and who loses from this loan?

The mean annual tuition and fees in the 2013-2014 academic year for a sample of 13 private colleges in California was $33,000 with a standard deviation of $7300. A dotplot shows that it is reasonable to assume that the population is approximately normal. Can you conclude that the mean tuition and fees for private institutions in California is less than $35,000? Use the α=0.01 level of significance and the P-value method with the TI-84 Plus calculator.

a. state null and alternative hypothesis. what tail is the hypothesis test?

b. Compute the P-value of the test statistic.

c. Determine whether to reject H0. Use the =α0.05 level of significance.

d. State a conclusion

The January 1, Year 1 trial balance for the Wright Company is found on the trial balance tab. The beginning balances are assumed.

Clark Co. entered into the following transactions involving short-term liabilities. (Use 360 days a year.)

General Journal tab - Prepare the Year 1 journal entries related to the notes and accounts payable of Clark Co.

Calculation of interest tab - Use the interest formula (P x R x T) to verify the amount of interest recorded in your entries. Verify that total interest expense agrees with the trial balance.

Year 2 payment tab - Prepare the January 27, Year 2 entry to record the repayment of the note at maturity.

• Apr. 20. Purchased $49,250 of merchandise on credit from Walsh, terms n∕30. Clark uses the perpetual inventory system.

Note: Enter debits before credits.

• Apr. 20. Purchased $49,250 of merchandise on credit from Walsh, terms n∕30. Clark uses the perpetual inventory system.

Note: Enter debits before credits.

• Jul. 8. Borrowed $99,000 cash from NJR Bank by signing a 120-day, 9% interest-bearing note with a face value of $99,000.

Note: Enter debits before credits.

• Jul. 8. Borrowed $99,000 cash from NJR Bank by signing a 120-day, 9% interest-bearing note with a face value of $99,000.

Note: Enter debits before credits.

• Jul. 8. Borrowed $99,000 cash from NJR Bank by signing a 120-day, 9% interest-bearing note with a face value of $99,000.

Note: Enter debits before credits.

• Nov. 28. Borrowed $57,000 cash from Fargo Bank by signing a 60-day, 8% interest-bearing note with a face value of $57,000.

Note: Enter debits before credits.

• Dec. 31 Recorded an adjusting entry for accrued interest on the note to Fargo Bank.

Note: Enter debits before credits.

Jayne was an eighteen year old freshman in college. On her second day at the college, she and her new roommate went to a “meet and greet” get together in their dorm. There were a lot of snacks and drinks there. After eating a cookie Jayne started developing nausea, itchy skin with large welts, a tingling sensation and tightness in her throat, dizziness and difficulty breathing, and a feeling of doom. She tried to speak to her roommate but her voice was very hoarse. She became unconscious and was rushed to the ER. When the medical personnel examined her she was hypotensive, with tachycardia; her skin was clammy. When the nurse looked in her purse she saw and Epipen injector. On questioning the RA from the residence hall, the ER staff found out that the cookies had peanuts in them. On administering epinephrine, Jayne quickly regained consciousness, her blood pressure rebounded to normal, and the heart rate slowed down. She was discharged the next day.

Prompts:

1) What is your diagnosis about Jayne’s condition?

2) What is an “antigen-presenting cell” and what role does this type of cell play in an immune response?

3) Explain the interaction that occurs between a T-helper lymphocyte and a B cell when the B cell is being induced to produce peanut-specific IgE. In your explanation, explain the role that the peanut allergen plays in this interaction.

4) In immediate hypersensitivity, the initial exposure to an allergen usually does not produce any symptoms. The symptoms, such as those involved in anaphylaxis, usually appear in the second exposure. What events are occurring during this initial exposure that sensitizes a person to an allergen? In your description include the role of B cells, T cells, IgE, mast cells, basophils and the allergen.

5) Describe how IgE binds and reacts with basophils and mast cells.

Suppose an investor with a 7-year investment horizon is considering the purchase of a 4.50% APR, monthly payment, mortgage with 22 years (264 months) remaining until maturity. The mortgage currently has an outstanding balance of $245,000 and is selling to offer a YTM of 4.8% on the secondary market. The investor expects to be able to reinvest the first 36 monthly cashflows at 4.8% (over their entire reinvestment interval), but expects to be able to reinvest the last 48 monthly payments at only 4.5%. At the end of her investment horizon, she expects to be able to sell the mortgage at a YTM of 4.5%. What is the total/expected (effective) return offered by this security?

Please show all steps and thought processes with a FINANCIAL CALCULATOR so that I can understand!

A company started providing a one-year warranty on one of their products. There were a

total of 2,100 of these products sold during 20x5. The company estimates that the cost of

warranty repairs will be as follows:

Amount Probability

$0 50%

40,000 15%

80,000 15%

105,000 12%

225,000 8%

Total warranty costs incurred during the year amounted to $13,200 and were charged to

cost of goods sold.

Required – Prepare the adjusting journal entries required at December 31, 20x5.

Draft an Auditor’s report to the shareholders of Oman Methanol Company LLC, MUSCAT for the year 2019,
incorporating any five qualifications from your point of view with example.