Periodic Inventory by Three Methods The units of an item available for sale during the year were as follows: Jan. 1 Inventory 14 units @ $37 Feb. 17 Purchase 10 units @ $38 Jul. 21 Purchase 8 units @ $39 Nov. 23 Purchase 6 units @ $39 There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Round average unit cost to one decimal and final answers to the nearest whole dollar, if required. a. Determine the inventory cost by the first-in, first-out method. $ b. Determine the inventory cost by the last-in, first-out method. $ c. Determine the inventory cost by the weighted average cost method. $

very year, management and labor renegotiate a new employment contract by sending their proposals to an arbitrator, who chooses the best proposal (effectively giving one side or the other $5 million). Each side can choose to hire, or not hire, an expensive labor lawyer (at a cost of $200,000) who is effective at preparing the proposal in the best light. If neither hires a lawyer or if both hire lawyers, each side can expect to win about half the time. If only one side hires a lawyer, it can expect to win nine tenths, or 0.9, of the time. Use the given information to fill in the expected payoff, in dollars, for each cell in the matrix. (Hint: To find the expected payoff, multiply the probability of winning by the dollar amount of the payoff.

Be sure to account for lawyer costs, which are incurred with certainty if a lawyer is hired.) Management (M) No Lawyer Lawyer Labor (L) No Lawyer L: $______ , M: $ _______L: $_____ , M: $_____ Lawyer L: $ ______, M: $__________ L: $______ , M: $________ The Nash equilibrium for this game is for Management to a___________ lawyer, and for Labor to ___________a lawyer

South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30 000 students are enrolled on campus. However, the university is forecasting a 5 per cent growth in student numbers in the coming year, despite an increase in fees to $3 000 per subject. The following additional information has been gathered from an examination of university records and conversations with university managers:
1. South Hampton is planning to award scholarships to 200 students, which will cover their fees.
2. The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semesters per year.
3. The average academic staff salary is $120 000 per annum including on-costs.
4. South Hampton’s academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic staff teaches the equivalent of three subjects during the academic year.
Required:
a. Prepare a revenue budget for the upcoming academic year.
b. Determine the number of staff needed to cover classes.
c. Assume there is a shortage of full-time academic staff. List at least five actions that South Hampton might take to accommodate the growing student numbers

In December of this year, David and Mary, a married couple, redeemed qualified Series David and Mary received proceeds of $10,000 representing principal of $7,000 and interest of $3,000. The qualified higher educational expenses they paid this year totaled $6,000. Their AGI for 2018 is $125,550. What is the amount of interest income that David and Mary can exclude from their income this year?

A)$1440
B)$1840
C)$2400
D)$3400

A recent 10-year study conducted by a research team at the Medical School was conducted to assess how age, blood pressure, and smoking relate to the risk of strokes. Assume that the following data are from a portion of this study. Risk is interpreted as the probability (times 100) that the patient will have a stroke over the next 10-year period. For the smoking variable, define a dummy variable with 1 indicating a smoker and 0 indicating a nonsmoker.

What action might the physician recommend for this patient?

ABC Corp. has $964,113 cash to invest in the foreign exchange market for a year. The following quotes were obtained from the bank:

Current spot ask rate of the pound is $1.2199/£ and the 360-day forward rate of the pound is $1.169/£. The 1-year period interest rate in the US is 2.42% and the 1-year period interest rate in the UK is 2.34%.

Is there an arbitrage opportunity? If so, calculate the arbitrage profit (in dollars) and write your answer in the answer box. If there is no arbitrage opportunity then write "0.00" in the answer box.  

The scores of high school seniors on the ACT college entrance examination in a recent year had mean μ = 20.8 and standard deviation σ = 4.8. The distribution of scores is only roughly Normal.

(a) What is the approximate probability that a single student randomly chosen from all those taking the test scores 21 or higher? (Round your answer to four decimal places.)


(b) Now take an SRS of 25 students who took the test. What are the mean and standard deviation of the sample mean score x of these 25 students? (Round your answers to two decimal places.)

(c) What is the approximate probability that the mean score

x

of these students is 21 or higher? (Round your answer to four decimal places.)


(d) Which of your two Normal probability calculations in (a) and (c) is more accurate? Why?

The answer to (a) is more accurate because an individual score should have a distribution farther from Normal.The answer to (a) is more accurate because an individual score should have a distribution that is exactly Normal.    The answer to (a) is more accurate because an individual score should have a distribution closer to Normal.The answer to (c) is more accurate because x should have a distribution closer to Normal.The answer to (c) is more accurate because x should have a distribution that is farther from Normal.

In the current year, Marah gives $20,000 cash to Sam, $60,000 of stock to Craig, and $100,000 of bonds to Lynn. In the same year, Marah’s husband, Bryan, gives $120,000 of land to Jerry.

a. What are Marah and Bryan’s taxable gifts if they do not elect gift splitting?

b. What are the couple’s taxable gifts assuming the couple elects gift splitting?

a. Jack Repair Shop started the year with total assets of $300,000 and total liabilities of $200,000. During the year, the repair shop recorded $500,000 in computer repair revenues, $300,000 in expenses, and paid dividends of $50,000. The repair shop stockholders' equity at the end of the year was $___________.

b. Costs of goods sold is $15,000 greater than net purchases. If beginning inventory is $110,000, what is ending inventory? Using COGS=BI+P-EI

c. Revenue of $45,000 had been collected, but only $39,000 had been earned. Expenses of $24,000 had been incurred, but only $29,000 had been paid. Based on the accrual basis of accounting, what is the amount of net income?

d. The following is selected information from Tiff. Co for the fiscal year ending October 31, 2019.

Cash received from customers $300,000

Revenue recognized  $375,000

Cash paid for expenses $180,000

Cash paid for computers on November 1, 2018 that will be used for 3 years (annual depreciation is $16,000) $48,000

Expenses incurred, including interest, but excluding any depreciation $220,000

Proceeds from a bank loan, part of which was used to pay for the computers $100,000

Based on the accrual basis of accounting, what is Tiff. Co's net income for the year ending October 31, 2019?

: Sarah operates a concession stand at a downtown location throughout the year. One of her most popular items is circus peanuts, selling about 200 bags per month. Sarah pays $1 per bag. Sarah purchases the circus peanuts from Peter's Peanut Shop. She has been purchasing 100 bags at a time. To encourage larger purchases, Peter now is offering her discounts for larger orders according to the following price schedule. Discount Category Order Quantity Price per Bag 1 1 to 199 $1.00 2 200 to 499 $0.95 3 500 or more $0.90 Sara estimates an annual holding rate of 17% of the value of the peanuts. She also estimates an ordering cost of $4 for placing each order. Questions: 1-1 Sarah wants to decide which discounted price to adopt (if at all) and how much she should order. a. 200 b. 345 c. 354 d. 500 1-2 Only for the order-size that you answered in question 1, show how the total cost is calculated. (Show the values you substitute in the cost formulae; ordering cost, holding cost, purchasing cost). 1-3 Sarah knows she cannot stock more than 400 bags because of limited storage space. What would be her optimal ordering policy now? Use the template results. 200 b. 345 c. 354 d. 400