Are America's top chief executive officers (CEOs) really worth all that money? One way to answer this question is to look at row B, the annual company percentage increase in revenue, versus row A, the CEO's annual percentage salary increase in that same company. Suppose that a random sample of companies yielded the following data: B: Percent for company 21 11 16 20 5 8 4 22 A: Percent for CEO 18 5 14 22 10 12 1 17 Do these data indicate that the population mean percentage increase in corporate revenue (row B) is different from the population mean percentage increase in CEO salary? Use a 1% level of significance. What is the value of the test statistic? Select one: a. -0.730 b. -0.683 c. 0.683 d. 0.730 e. -0.639
In: Statistics and Probability
Prepare the financing section of the statement of cash flows for the year ended December 31, 2018.
13) Dakota Telescopes Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:
Dakota Telescopes Company
Income Statement
Year Ended December 31, 2019
Sales Revenue $275,000
Interest Revenue 2,600
Total Revenues $277,600
Cost of Goods Sold 135,000
Salary Expense 66,500
Depreciation Expense 32,000
Other Operating Expenses 35,900
Interest Expense 2,400
Income Tax Expense 6,500
Loss on Sale of Plant Assets 2,000
Total Expenses and Losses 280,300
Net Loss ($2,700)
Additional information provided by the company includes the following:
Current assets other than cash decreased by $25,000.
Current liabilities increased by $3,000.
Prepare the operating activities section of the statement of cash flows.
In: Accounting
Lenci Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During May, the company budgeted for 5,230 units, but its actual level of activity was 5,180 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May:
Data used in budgeting:
| Fixed element per month | Variable element per unit | ||||
| Revenue | - | $ | 40.90 | ||
| Direct labor | $ | 0 | $ | 6.80 | |
| Direct materials | 0 | 17.00 | |||
| Manufacturing overhead | 42,800 | 2.60 | |||
| Selling and administrative expenses | 24,000 | 1.50 | |||
| Total expenses | $ | 66,800 | $ | 27.90 | |
Actual results for May:
| Revenue | $ | 199,110 |
| Direct labor | $ | 29,865 |
| Direct materials | $ | 81,565 |
| Manufacturing overhead | $ | 55,505 |
| Selling and administrative expenses | $ | 23,980 |
The spending variance for manufacturing overhead in May would be closest to:
In: Accounting
A suburban hotel derives its revenue from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied.
| Day | Revenue | Occupied | Day | Revenue | Occupied | ||||||||
| 1 | $ | 1,452 | 40 | 14 | $ | 1,425 | 31 | ||||||
| 2 | 1,361 | 20 | 15 | 1,445 | 51 | ||||||||
| 3 | 1,426 | 21 | 16 | 1,439 | 62 | ||||||||
| 4 | 1,470 | 54 | 17 | 1,348 | 45 | ||||||||
| 5 | 1,456 | 62 | 18 | 1,450 | 41 | ||||||||
| 6 | 1,430 | 29 | 19 | 1,431 | 62 | ||||||||
| 7 | 1,354 | 22 | 20 | 1,446 | 47 | ||||||||
| 8 | 1,442 | 21 | 21 | 1,485 | 43 | ||||||||
| 9 | 1,394 | 15 | 22 | 1,405 | 38 | ||||||||
| 10 | 1,459 | 65 | 23 | 1,461 | 36 | ||||||||
| 11 | 1,399 | 41 | 24 | 1,490 | 61 | ||||||||
| 12 | 1,458 | 35 | 25 | 1,426 | 65 | ||||||||
| 13 | 1,537 | 51 | |||||||||||
|
Determine the coefficient of correlation between the two variables. (Round your answer to 3 decimal places.) c-1. State the decision rule for 0.025 significance level: H0: ρ ≤ 0; H1: ρ > 0. (Round your answer to 3 decimal places.) c-2. Compute the value of the test statistic. (Round your answer to 2 decimal places.) c-3. Is it reasonable to conclude that there is a positive relationship between revenue and occupied rooms? Use the 0.02 significance level. What percent of the variation in revenue in the restaurant is accounted for by the number of rooms occupied? (Round your answer to 1 decimal place.) |
|||||||||||||
In: Statistics and Probability
The financial department of a company that produces memory chips for microcomputers arrived at the following price-demand function and the corresponding revenue function:
p(x) = 75 – 3x price-demand
R(x) = x ? p(x) = x(75 – 3x) revenue function
Where p(x) is the wholesale price in dollars at which x million chips can be sold and R(x) is in millions of dollars. Both functions have domain 0 ? x ? 20. They also found the cost function to be C(x) = 125 + 16x for manufacturing and selling x million chips. Find the profit function and determine the number of chips that should be sold for maximum profit. Find the maximum profit. Find the maximum revenue and the number of chips that need to be sold to reach that maximum. Graph the cost, revenue, and profit functions in the same window on your calculator. (Use window x = 0 to 20, and y = 0 to 600). Round your answers to the nearest whole number. Round the numbers of chips up to the next whole number.
a.) Profit function is simplified form __________
b.) Number of chips for maximum profit _________
c.) Number of chips for maximum revenue _______
d.) Maximum profit ______
e.) Maximum revenue _______
f.) What is the profit when the revenue is at its maximum? _______
g.) Explain why the maximum revenue is different from the maximum profits_____________
**Please show ALL work!
In: Economics
In: Accounting
What immediate changes, if any, has Uber company made to its basic business model right now, during the crisis of the Coronavirus. How are riders/customers being served during this crisis period ? Is Uber able to retain employees? What changes have been implemented for Uber company to continue to offer goods and services that's are a part of its brand? Or has there been an adjustment in goods and services offered?
In: Operations Management
[The following information applies to the questions
displayed below.]
Arndt, Inc. reported the following for 2021 and 2022 ($ in
millions):
| 2021 | 2022 | ||||||
| Revenues | $ | 956 | $ | 1,048 | |||
| Expenses | 812 | 868 | |||||
| Pretax accounting income (income statement) | $ | 144 | $ | 180 | |||
| Taxable income (tax return) | $ | 88 | $ | 214 | |||
| Tax rate: 25% | |||||||
3. Compute the deferred tax amounts that should be reported on the 2021 balance sheet. (Enter your answers in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
Please the answer for 3
In: Accounting
1.
Trident Developers purchased a computer system for $100,000 on June 4, 2003. The computer system is used for business 100% of the time. The accountant for the company elected to take a $12,000 Section 179 deduction, and the asset qualified for a special depreciation allowance (see Table 17-4).
Click here for Table 17-4
a. What was the basis for depreciation of the computer system?
$
b. What was the amount of the first year's depreciation using MACRS?
Click here for Table 17-1 and Table 17-2
$
2.
Use the declining-balance method of depreciation to complete the table below. Round to the nearest hundredth of a percent when necessary.
Do not enter the percent symbol in your answer.
| Useful Life (Years) |
Straight-Line Rate (%) |
Multiple (%) |
Declining-Balance Rate (%) |
| 3 | % | 200 | % |
3.
Use the declining-balance method of depreciation to complete the table below. Round to the nearest hundredth of a percent when necessary.
Do not enter the percent symbol in your answer.
| Useful Life (Years) |
Straight-Line Rate (%) |
Multiple (%) |
Declining-Balance Rate (%) |
| 9 | % | 150 | % |
4.
|
Сompanies depreciate, or write off, the expense of tangible assets such as trucks and equipment over a period of their useful lives. Many companies also have intangible assets that must be accounted for as an expense over a period of time. Intangible assets are resources that benefit the company but do not have any physical substance. Some examples are copyrights, franchises, patents, trademarks, and leases. In accounting, intangible assets are written off in a procedure known as asset amortization. This is much like straight-line depreciation, but there is no salvage value. You are the accountant for Front Line Pharmaceuticals, Inc. In January 2000, the company purchased the patent rights for a new medication from Novae, Inc., for $8,700,000. The patent had 15 years remaining as its useful life. In January 2005, Front Line Pharmaceuticals successfully defended its right to the patent in a lawsuit that cost $500,000 in legal fees. a. Using the straight-line method, calculate the patent's annual amortization expense for the years before the lawsuit. $ b. Calculate the revised annual amortization expense for the remaining years after the lawsuit. $ |
In: Accounting
In: Accounting