1) What is the first budget that should be done and why?

2) Budgetary control is the use of budgets in controlling operations. What are the steps in budgetary control?

2) What is a static budget? Whys is a static budget is an appropriate basis for evaluating a manager’s effectiveness in controlling costs?

4) List the steps in preparing a flexible budget?

5)Responsibility reports differ from budget reports in two respects? State and explain each one.

6) There are three types of responsibility centers. Please list and define what each center does?

7) What costs are included in a performance report for a cost center?

8) What is a Controllable margin? What is the purpose of controllable margin?

9) What is the primary basis for evaluating the performance of the manager of an investment center? How is it calculated?

3. A psychologist wants to determine the effect of instructions on the time required to solve a mechanical puzzle. Each of 20 volunteers is given the same mechanical puzzle to be solved as rapidly as possible. Before the task, the subjects are randomly assigned in equal numbers to receive two different sets of instructions. One group is told that their task is difficult (M₁), and the other group is told that their task is easy (M₂). The score for each subject reflects the time in minutes required to solve the puzzle. Use a t-test to evaluate the null hypothesis at the .05 level of significance.

                                     Solution Times

"Difficult" Task                                            "Easy" Task

5                                                                     13

20                                                                    6

7                                                                     6

23                                                                    5

30                                                                    3

24                                                                    6

9                                                                     10

8                                                                     20

20                                                                    9

12                                                                    12

___                                                                  ____

1. For the data below perform a Wilcoxon Rank-Sum Test by-hand showing all steps (you may verify your results using software if you want to but it’s not required).
   Two treatments were developed for asthma patients. Twelve patients were randomly assigned to one of Treatment A or Treatment B (six patients on each treatment). The response variable is the number of days that the patients were symptom free after using their assigned treatments for a week. Test to see if Treatment A has a distribution that is shifted to the right (i.e. tends to have larger values) than Treatment B.
   Show all steps of your test and use 5% level of significance.

5.Under Section 1031, what needs to occur within 45 days of the sale and what changes if the taxpayer acquires the replacement property within the 45 days?

6. A group of investors formed a JV to construct a new building. You have been asked to structure the deal and one of your responsibilities is to ensure the investors will be able to recognize a Section 1231 gain as opposed to ordinary income. Please describe the factors you would take into consideration to make sure the investors receive the desired tax treatment.

7. Formations of partnerships and corporations are generally seen as tax free transactions. Describe the main difference between the formation of a corporation and a partnership?

8. Bonus Question - In the Bramblett case why was it necessary to form a partnership and a corporation as opposed to forming two partnership?

Income statement data for Winthrop Company for two recent years ended December 31 are as follows:

The following table shows the length of stay distribution for guests staying at a beach resort, in days. The resort management makes a net profit of $250 per day per guest during the first 2 days of the stay, and $150 per day per guest after the first 2 days. How much profit will the resort owners make in a month (assuming 30 days in a month) if there are 100 guests arriving per day? [Hint: Note that a guest who only stays for two days is billed $500; find the average profit for one guest then work out for the entire month.]

Must be completed in Excel

True or False

1.An association is a description of a group of links with common behaviors and semantics.

2.An association is a logical construct, of which a reference is a generalization alternative.

3.Multiplicity specifies the number of instances of one object.

4.An association class is an association that is also a class.

5.An association class may have attributes, operation and participant in associations.

6.A qualified association is an association in which the objects in a “many” generalization are partially disambiguated by a qualifier.

7.Generalization is an important construct for both conceptual modeling and implementation.

8.To build complex systems, the developer must abstract different views of the system, build models using precise notations.

9.When analysts construct a model of the application, the detail implementation information will need to be considered.

10.The model has two dimensions – a view of a system and a stage of development.   

OPPORTUNITIES FOR CRITICAL THINKING

1.

Explain market segmentation.

2.

Define culture and give two examples of culture in the workplace.

3.

Explain the difference between high-touch and low-touch environments.

4.

What variables should be considered when developing a customer service strategy?

5.

Look for examples of infrastructure in your own organization.

6.

Contrast the potential success of a strategy that is developed according to the guidelines for creating a strategy and one that is not.

7.

Identify some customer service market segments that you are in.

8.

Give examples of situations where high-touch and low-touch environments are appropriate.

9.

What role do customers’ expectations play in the establishment of customer service strategy?

10.

Examine the culture of your own workplace.

Let x be a random variable that represents the percentage of successful free throws a professional basketball player makes in a season. Let y be a random variable that represents the percentage of successful field goals a professional basketball player makes in a season. A random sample of n = 6 professional basketball players gave the following information.

(a) Find Σx, Σy, Σx², Σy², Σxy, and r. (Round r to three decimal places.)

(b) Use a 5% level of significance to test the claim that ρ > 0. (Round your answers to two decimal places.)

Conclusion

Reject the null hypothesis, there is sufficient evidence that ρ > 0.Reject the null hypothesis, there is insufficient evidence that ρ > 0.    Fail to reject the null hypothesis, there is insufficient evidence that ρ > 0.Fail to reject the null hypothesis, there is sufficient evidence that ρ > 0.

(c) Find S_e, a, b, and x. (Round your answers to four decimal places.)

(d) Find the predicted percentage ŷ of successful field goals for a player with x = 80% successful free throws. (Round your answer to two decimal places.)
%

(e) Find a 90% confidence interval for y when x = 80. (Round your answers to one decimal place.)

(f) Use a 5% level of significance to test the claim that β > 0. (Round your answers to two decimal places.)

Conclusion

Reject the null hypothesis, there is sufficient evidence that β > 0.Reject the null hypothesis, there is insufficient evidence that β > 0.    Fail to reject the null hypothesis, there is insufficient evidence that β > 0.Fail to reject the null hypothesis, there is sufficient evidence that β > 0.

do you think the U.S. government should increase the minimum wage every year to match inflation? (your answer should be at least one paragraph)