Questions
Inventory Costing Methods Morrison Inc. reported the following information for the month of October: Inventory, October...

Inventory Costing Methods

Morrison Inc. reported the following information for the month of October:

Inventory, October 1 58 units @ $22
Purchase:
October 7 57 units @ $23
October 18 58 units @ $24
October 27 46 units @ $25

During October, Morrison sold 138 units. The company uses a periodic inventory system.

Required:

What is the value of ending inventory and cost of goods sold for October under the following assumptions.

ASSUMPTIONS:

1. Of the 138 units sold, 49 cost $22, 40 cost $23, 44 cost $24, and 5 cost $25.
2. FIFO
3. LIFO
4. Weighted average method (Round average unit cost to the nearest cent,
and round all other calculations and your final answers to the nearest dollar.)

Answer with $

1. Cost of Goods Sold=

Ending Inventory=

2. Cost of Goods Sold=

Ending Inventory=

3. Cost of Goods Sold=

Ending Inventory=

4. Cost of Goods Sold=

Ending Inventory=

In: Accounting

1. Last month a manufacturing company's profit was NS2 000, calculated using absorption costing principles. If...

1. Last month a manufacturing company's profit was NS2 000, calculated using absorption costing principles. If marginal costing principles has been used, a loss of N$3 000 would have occurred. The company's fixed production cost is N$2 per unit. Sales last month were 10 000unit.

What was last month's production (in units)?

2. HELAO Ltd uses a process costing system. During the month they put 250 units of total manufacturing costs of N$16 875. The company has estimated that the normal loss would be 10%

What's the unit cost of a "good unit" ?

3. For the current year Paxman Company incurred N$150 000 in actual manufacturing overhead cost. The manufacturing overheads account showed that overheads were over-applied to the amount of N$6 000 for the year. If the predetermined overhead rate was N$ 8 per direct labour hour, how many hours were worked during the year?

4. You are the management accountant at one of the famous NWR Resorts offering special packages for holidaymakers. Accommodation facilities are in the form of chalets with a capacity of five (5) family members per chalet. For the whole month of December 2019, it hosted 300 holidaymakers, which only 95% of full capacity, and all Chalets were fully occupied. Package 1 has a daily rate of N$ 120.00 per person. Package 2 has a daily rate of N$ 200,00 per person, and the sales mix ratio is 60:40, respectively. Monthly variable costs are N$ 350 000 for package 1 and N$ 400 000 for package 2 with combined fixed costs of N$ 300 000.

a)How much revenue was required to break even in December?

b)Due to the Covid-19 impact on the tourism industry, revenue is projected to decrease by 30% and variable costs by 15% Using the same information how much revenue will be required to break even in the next month?

5. A company has the following budgeted costs and revenues:

Sales = N$ 50
Variable production cost = N$ 18
Fixed production cost =N$ 10

In the most recent period, 2000 units were produced and 1 000 units were sold. Actual sales price, variable production cost per unit and total fixed production costs were all as budgeted. Fixed production costs were over-absorbed by N$4000. There was no opening inventory for the period.

What would be the reduction in profit for the period if the company has used marginal costing rather than absorption costing?

In: Accounting

. The following quote is from Mallet J (2006) What does Drosophila genetics tell us about...

. The following quote is from Mallet J (2006) What does Drosophila genetics tell us about speciation? Trends in Ecology & Evolution 21:386-393

“Studies [in] Drosophila have given insight into the genetic changes that result in reproductive isolation. Here, I survey some extraordinary and important advances in Drosophila speciation research. However, ‘reproductive isolation’ is not the same as ‘speciation’, and this Drosophila work has resulted in a lopsided view of speciation.”

Focus in on the last sentence in this quote and answer the following questions:

a. What is speciation? (4 points)

b. What is reproductive isolation? (4 points)

c. Define species according to the Biological Species Concept (BSC). (4 points)

d. Given the BSC, what does the author mean that speciation and reproductive isolation are not synonymous? (4 points)

e. In any event, species concepts are difficult to deal with. The definitions we have for species do not often work for all species. Give an example of how the Biological Species Concept “breaks down” in some cases. (4 points)

In: Biology

Consider a portion of monthly return data (In %) on 20-year Treasury Bonds from 2006–2010. Date...

Consider a portion of monthly return data (In %) on 20-year Treasury Bonds from 2006–2010.

Date Return
Jan-06 4.12
Feb-06 4.44
Mar-06 4.02
Apr-06 4.79
May-06 4.01
Jun-06 3.65
Jul-06 4.07
Aug-06 4.3
Sep-06 5.49
Oct-06 3.6
Nov-06 4.71
Dec-06 3.83
Jan-07 4.14
Feb-07 3.53
Mar-07 3.68
Apr-07 4.19
May-07 3.34
Jun-07 3.51
Jul-07 3.48
Aug-07 3.68
Sep-07 4.96
Oct-07 3.42
Nov-07 4.17
Dec-07 4.25
Jan-08 5.05
Feb-08 3.23
Mar-08 5.34
Apr-08 5.15
May-08 4.58
Jun-08 4.61
Jul-08 4.25
Aug-08 4.49
Sep-08 3.55
Oct-08 4.48
Nov-08 4.38
Dec-08 3.99
Jan-09 3.73
Feb-09 5
Mar-09 3.2
Apr-09 3.87
May-09 5.5
Jun-09 4.6
Jul-09 3.79
Aug-09 3.73
Sep-09 5.35
Oct-09 4.24
Nov-09 3.86
Dec-09 5.38
Jan-10 3.61
Feb-10 4.59
Mar-10 4.22
Apr-10 3.42
May-10 4.54
Jun-10 5.49
Jul-10 4.29
Aug-10 4.49
Sep-10 3.78
Oct-10 3.98
Nov-10 3.44
Dec-10 5.19

Estimate a linear trend model with seasonal dummy variables to make forecasts for the first three months of 2011. (Round intermediate calculations to at least 4 decimal places and final answers to 2 decimal places.)

Year Month y^t
2011 Jan
2011 Feb
2011 Mar

In: Statistics and Probability

Ahmed (accountant), Ben (entrepreneur) and Chen (operational skills) formed Drastic Designs Pty. Ltd. in 2006. They...

Ahmed (accountant), Ben (entrepreneur) and Chen (operational skills) formed Drastic Designs Pty. Ltd. in 2006. They were executive directors and equal shareholders. The company’s focus was initially on designing and selling handbags. Progress Bank lent them funds and took a security interest by way of a floating charge over the company’s stock in trade.
In June 2009 Ben heard that the organisers of the Autumn Fashion Show were calling for tenders (bids) to design the stage for the fashion parade. Ben was excited at the prospect of bidding and thought it would assist the company’s growth. Ahmed advised against putting in a tender (bid) for such a large project that was completely different to anything the company had done before. Chen thought it would be a good challenge. A resolution was passed (2:1) that the company would make a bid. Ahmed resigned from the Board in protest and Ben took over the role of managing director. Ben’s girlfriend, Nula, joined the Board as a non-executive director to replace Ahmed. As she had some financial skills, she helped with the tender details. Drastic Designs won the tender.
Since Ahmed was not available to help with the financial side of the business, Ben hired Sam, a recent Bachelor of Commerce graduate, as book-keeper and generally to advise them on the accounting side of the business. Ben and Chen relied heavily on Sam. When asked by suppliers when they were going to be paid, Chen just told them to ‘see Sam – he is in charge of that sort of thing’.
By November 2010 it was apparent that the Autumn Fashion Show tender had been underpriced and that the project had lost $150,000. Sam made a list of outstanding debtors and paid those who were the most demanding.
In December 2010 Drastic Designs signed a one-year contract to redesign several office buildings. This meant that Drastic Designs had to employ more staff and buy more equipment. At the January 2011 Board meeting Nula expressed her concern that there was inadequate financial information being produced by Sam.
In February and March 2011 Drastic Designs was late paying its interest payments to Progress Bank, which threatened to take action if payment was late again. The bank refused Ben’s request for further finance. Several unsecured creditors wrote expressing their concern with the fact their accounts were more than 90 days overdue. It is now May 2011.
Required:
(a)?Discuss whether Ahmed, Ben, Chen, Nula and/or Sam are in breach of their insolvent trading duties under the Corporations Act 2001 (Cth).
(b)?It is apparent that Drastic Designs is in financial distress – briefly identify and then explain the options for the directors and creditors and the potential impact of those options on Drastic Designs.??? ??
Refer to relevant sections of the Corporations Act 2001 (Cth) and to relevant cases, if any, in your response.

In: Finance

Ramzi corp. issued $6,000,000 of 8% debentures on May 1, 2006 and received cash totaling $5,323,577....

Ramzi corp. issued $6,000,000 of 8% debentures on May 1, 2006 and received cash totaling $5,323,577. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2014. The firm uses the effective-interest method of amortizing discounts and premiums. The bonds were sold to yield an effective-interest rate of 10%.

Calculate the amount of discount amortization during the first year (5/1/06 through 4/30/07) these bonds were outstanding. (round to the nearest dollar.)

a.

discount amortization  is $ 53,067
b.

discount amortization  is $ 52,067
c.

discount amortization  is $ 52,667
d.

discount amortization  is $ 53,667

In: Accounting

aked beans a lot more predictable than shares BY SIMON HOYLE 11 March 2006 The Sydney...

aked beans a lot more predictable than shares BY SIMON HOYLE
11 March 2006
The Sydney Morning Herald
THE price of a tin of baked beans doesn't change much from day to day. The price of
a company’s shares, on the other hand, can change quite a lot. In investment terms, the price of the baked beans isn't as volatile as the share price.
While you might have a good idea of how much a tin of baked beans will cost you whenever you go 10 buy one, you can't be as certain about the price of a share. IBut there are ways you can make educated guesses about what the price of a share might do over a period of time. In other words, you can make educated guesses about the range of likely future outcomes, and hence about likely future volatility. A common way of measuring an asset's riskiness, or volatility, is the "standard deviation" of the asset's returns. Standard deviation is a statistical method of calculating the most likely range of returns from an asset. It is the method that analysts use to make long-term predictions from short-term data.
If you were to plot the returns from an asset on a graph, where the horizontal axis is the return the asset achieves every day, week or month, and the vertical axis is the number of times that return occurs, you'd get what's called a "distribution curve". This looks like a bell, and for that reason it's also sometimes known as a bell curve. What a bell curve tells you is that an asset's returns tend to be clustered around a certain number, and the further from that number you move along the horizontal axis, the fewer times the returns tend to crop up.
Calculating the standard deviation of an asset's returns tells you how far from the average return you have to move in order to include about two thirds of the range of an asset's returns. Moving two standard deviations from the average means you can cover about 95 per cent of the range of returns. In other words, you can say, with a high degree of certainty, what the range of an asset's returns will be.
"For example, an annualised volatility of 8 per cent together with an expected return of 20 per cent over the year can be used to produce an interval of possible return outcomes for the year," CommSec says.
"In this example there is an approximately two-thirds chance that the outcome after one year is 20 per cent, plus or minus 8 per cent (that is, 12 per cent to 28 per cent), and approximately a 95 per cent chance that the outcome will fall in an interval twice as wide (that is, 4 per cent to 36 per cent)."
A higher standard deviation means the likely outcomes range a long way from the average, and a lower standard deviation means the possible outcomes are more tightly concentrated around the average.

Part one requires qualitative explanations that display your understanding of the concepts of risk and return. The article of Simon Hoyle gives some understanding of the concepts of risk and return. However, it was published in a newspaper where the target readers were not all educated in finance. You are required to answer the following questions while providing deeper insights about the concepts of risk and return than those that are provided in the article.
Read the article by Simon Hoyle above and answer question the below question :

QUESTION(200 words)

Explain the distinction between Systematic and Unsystematic Risk? How can investors avoid each one of those risk?


In: Finance

Baked beans a lot more predictable than shares BY SIMON HOYLE 11 March 2006 The Sydney...

Baked beans a lot more predictable than shares BY SIMON HOYLE
11 March 2006
The Sydney Morning Herald
THE price of a tin of baked beans doesn't change much from day to day. The price of
a company’s shares, on the other hand, can change quite a lot. In investment terms, the price of the baked beans isn't as volatile as the share price.
While you might have a good idea of how much a tin of baked beans will cost you whenever you go 10 buy one, you can't be as certain about the price of a share. IBut there are ways you can make educated guesses about what the price of a share might do over a period of time. In other words, you can make educated guesses about the range of likely future outcomes, and hence about likely future volatility. A common way of measuring an asset's riskiness, or volatility, is the "standard deviation" of the asset's returns. Standard deviation is a statistical method of calculating the most likely range of returns from an asset. It is the method that analysts use to make long-term predictions from short-term data.
If you were to plot the returns from an asset on a graph, where the horizontal axis is the return the asset achieves every day, week or month, and the vertical axis is the number of times that return occurs, you'd get what's called a "distribution curve". This looks like a bell, and for that reason it's also sometimes known as a bell curve. What a bell curve tells you is that an asset's returns tend to be clustered around a certain number, and the further from that number you move along the horizontal axis, the fewer times the returns tend to crop up.
Calculating the standard deviation of an asset's returns tells you how far from the average return you have to move in order to include about two thirds of the range of an asset's returns. Moving two standard deviations from the average means you can cover about 95 per cent of the range of returns. In other words, you can say, with a high degree of certainty, what the range of an asset's returns will be.
"For example, an annualised volatility of 8 per cent together with an expected return of 20 per cent over the year can be used to produce an interval of possible return outcomes for the year," CommSec says.
"In this example there is an approximately two-thirds chance that the outcome after one year is 20 per cent, plus or minus 8 per cent (that is, 12 per cent to 28 per cent), and approximately a 95 per cent chance that the outcome will fall in an interval twice as wide (that is, 4 per cent to 36 per cent)."
A higher standard deviation means the likely outcomes range a long way from the average, and a lower standard deviation means the possible outcomes are more tightly concentrated around the average.

Part one requires qualitative explanations that display your understanding of the concepts of risk and return. The article of Simon Hoyle gives some understanding of the concepts of risk and return. However, it was published in a newspaper where the target readers were not all educated in finance. You are required to answer the following questions while providing deeper insights about the concepts of risk and return than those that are provided in the article.
Read the article by Simon Hoyle above and answer question the below question :

QUESTION (200 words)
Apparently, Simon Hoyle's article did not mention what would happen to the risk if an investor decided to buy more than one share. Explain how adding new shares to a portfolio can affect the risk and return of that portfolio. You should use the concepts of correlation coefficient and the standard deviation in your explanations.

In: Finance

My period is between 2006-2016. I just need some ideas for this discussion Aggregate expenditure is...

My period is between 2006-2016. I just need some ideas for this discussion

Aggregate expenditure is the total amount of spending in the economy that determines the level of the GDP. Components of aggregate expenditure are autonomous expenditure, planned private investments, government expenditure, and net exports. When autonomous expenditure increases or decreases, it has a multiplied effect on the GDP.

Referring to the 10-year historical period that you chose for your final project, discuss an example of a change in autonomous spending. Research a government policy implemented during that time and discuss the multiplier effect it had on the economy.

In your response posts to your peers, comment on the conclusions drawn by your peers regarding the multiplier effect. Choose two posts you disagree with, and provide constructive critique, supporting your opinion by researching a source to back it up.

In: Economics

Payments of 75 each are made every 2 months from September 1, 2006 to July 1,...

Payments of 75 each are made every 2 months from September 1, 2006 to July 1, 2011, inclusive. For each of the following cases draw the time diagram line and find the value of the series:
(a) 2 months before the first payment at effective compound annual interest rate i = 0.05;
(b) 10 months before the first payment at nominal interest rate i(12) = 0.12 compounded monthly;
(c) 2 months after the final payment at nominal discount rate d(4) = 0.08 compounded quarterly;
(d) one year after the final payment at annual force of interest δ = 0.07.

In: Finance