Questions
For the data set shown below, complete parts (a) through (d) below. x y 20 102...

For the data set shown below, complete parts (a) through (d) below. x y 20 102 30 95 40 91 50 81 60 68 ​(a) Use technology to find the estimates of beta 0 and beta 1. beta 0 ~ b 0=_____​(Round to two decimal places as​ needed.) beta 1 ~ b 1=_____(Round to two decimal places as​ needed.) (b) Use technology to compute the standard error, the point estimate for o' (o with a little tag on the top) S e =_____(Round to four decimal places as needed.) (c) Assuming the residuals are normally distributed, use technology to determine Sb1 Sb1 =_____ (Round to four decimal places as required) (d) Assuming the residuals are normally distributed, test H0: B1 =0 versus H1:B1 =/ at the a = 0.005 level of significance. Use the P - value approach. The P - value for this test is _____ (Round to three decimal places as needed.

In: Statistics and Probability

Zion Electronics Company produces two products, Resistors and Transistors in a small manufacturing plant which had...

Zion Electronics Company produces two products, Resistors and Transistors in a small manufacturing plant which had total manufacturing overhead of $21,000 in June. The factory has two departments, Design, which incurred $10,000 of manufacturing overhead, and Production which incurred $11,000 of manufacturing overhead. Design used 250 hours of direct labor and Production used 80 machine hours.

Assume that Resistors used 100 direct labor hours to make 100 units and Transistors used 150 direct labor hours to make 100 units in the Design Department. Also, assume that Resistors used 50 machine hours and Transistors used 30 machine hours in the Production Department.

The overhead costs assigned to each unit of Resistors and Transistors using department overhead rate were:

A.

$108.75 for Resistors and $101.25 for Transistors
B.

$40 for Resistors and $137.50 for Transistors
C.

$234.30 for Resistors and $215.60 for Transistors
D.

$177.50 for Resistors and $177.50 for Transistors

In: Accounting

Super Sneaker Company is evaluating two different materials, A and B, to be used to construct...

Super Sneaker Company is evaluating two different materials, A and B, to be used to construct the soles of their new active shoe targeted to city high school students in Canada. While material B costs less than material A, the company suspects that mean wear for material B is greater than mean wear for material A. Two study designs were initially developed to test this suspicion. In both designs, Halifax was chosen as a representative city of the targeted market. In Study Design 1, 8 high school students were drawn at random from the Halifax School District database. After obtaining their shoe sizes, the company manufactured 8 pairs of shoes, each pair with one shoe having a sole constructed from material A and the other shoe, a sole constructed from material B.

After 3 months, the amount of wear in each shoe was recorded in standardized units as follows:

1 2 3 4 5 6 7 8
A 17.23 13.09 11.13 15.02 12.01 11.68 13.62 13.45
B 14.73 15.17 13.73 13.08 15.51 14.09 12.70

14.57

What is the 99% confidence interval for the difference in wear between material B and material A (use B-A)? Use software to get a more precise critical value, but confirm it's roughtly the same value you get from the table. Use at least 5 digits to the right of the decimal. Lower bound:  Upper bound:

Alternative hypothesis was: uA-uB < 0

In: Statistics and Probability

To examine the work environment on attitude toward work, an industrial hygienist randomly assigns a group...

To examine the work environment on attitude toward work, an industrial hygienist randomly assigns a group of 18 recently hired sales trainees to three "home rooms" - 6 trainees per room. Each room is identical except for wall color. One is light green, another is light blue, and the third is a deep red. During the week-long training program, the trainees stay mainly in their respective home rooms. At the end of the program, an attitude scale is used to measure each trainer's attitude toward work (a low score indicates a poor attitude and a high score a good attitude). On the basis of these data, the industrial hygenist wants to determine whether there is significant evidence that work environment (i.e., color of room) has an effect on attitude toward work, and if so, which room color(s) appear to significantly enhance attitude using the ANOVA test.

Here is the data:

Light Green Light Blue Deep Red
46 59 34
51 54 29
48 47 43
42 55 40
58 49 45
50 44 34

What is your conclusion?

Please help me to answer the question. Please give me step by step instructions on how to use SPSS program - ANOVA test. Thank you.

In: Statistics and Probability

Today is Sept. 1, 2009. Starting today you plan to invest $1000 every year, first deposit...

Today is Sept. 1, 2009. Starting today you plan to invest $1000 every year, first deposit today and last deposit on Sept. 1, 2025. After that, you plan to leave the money in the same account until Sept. 1, 2030. However, the interest rate is 8% compounded quarterly until your last deposit and only 7% compounded annually after that. How much money will you have in your account on Sept. 1, 2030?

a. $34,504.14

b. $35,504.14

c. $48,393.84

d. $49,005.74

e. None of the above

In: Finance

Eating Disorder Assignment (Nutrition An Applied Approach Fifth Edition by Janice Thompson and Melinda Manore) IN...

Eating Disorder Assignment (Nutrition An Applied Approach Fifth Edition by Janice Thompson and Melinda Manore)

IN Depth Assignment Eating Disorders   Read pages 413-423

Listed are two teens with Eating Disorders. Write a 150-word paragraph for both teens that describe possible signs of the disorder that other people might notice. Make sure to include the health consequences that each teen might have. Also, If these two were your friends how would you help them?

Mary is 14.   She is 5’7” tall and weighs 110-pounds, she looks in the mirror and sees a fat person. At lunch with her parents she tells them that she is not hungry and she will eat later. However, Mary does not eat later because she is starving herself in silence. She has not told anyone. She has eaten less than 500 calories per day for the last 2 weeks.

Sam is 17. He is a wrestler. Sam is the best in his weight class. However, if he gains 5 pounds he will get bumped up a class and then will have to wrestle larger athletes. Sam exercises excessively and he takes laxatives to lose weight. He has thrown up a few times after he eats fast food with his friends. Sam does not eat or drink the day before he gets weighed- in for the match. Immediately after weigh-in, Sam eats excessively for energy before he wrestles.

In: Nursing

A food company has recently introduced a new line of fruit pies in 6 US cities:...

A food company has recently introduced a new line of fruit pies in 6 US cities: Atlanta, Baltimore, Chicago, Denver, St. Louis, and Fort Lauderdale. Based on the pie’s apparent success, the company is considering a nationwide launch. Before doing so, it has decided to use data collected during a two-year market test to guide it in setting prices and forecasting future demand.

            For each of the 6 markets, the firm has collected eight quarters of data for a total of 48 observations. Each observation consists of data on quantity demanded (number f pies purchased per week), price per pie, a competitor’s average price per pie, income, and population. The company has also included a time-trend variable. A value of 1 denotes the 1st quarter observation, 2 the 2nd quarter, and so on, up to 8 for the 8th and last quarter.

            A company forecaster has run a regression on the data, obtaining the results displayed in the accompanying table.

Coefficient Stand. Error of Coefficient Mean Value of Variable
Intercept -4,516.3 4,988.2 ------
Price ($) -3,590.6 702.8 7.5
Competitors'price($) 4,226.5 851 6.5
Income ($000) 777.1 66.4 40
Population (000) 0.40 0.31 2,300
Time (1 to 8) 356.1 92.3 ------
N = 48 R^2 = 0.93 Standard error regression = 1,442

C.) Other things equal, how much do we expect sales to grow (or fall) over the next year?

D.) How much accurate is the regression equation in predicting sales new quarter? Two years from now? Why might these answers differ?

E.) How confident are you about applying these test-market results to decisions concerning national pricing strategies for pies?

In: Economics

Cost Behavior SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its...

Cost Behavior

SmokeCity, Inc., manufactures barbeque smokers. Based on past experience, SmokeCity has found that its total annual overhead costs can be represented by the following formula: Overhead cost = $584,685 + $1.42X, where X equals number of smokers. Last year, SmokeCity produced 21,300 smokers. Actual overhead costs for the year were as expected.

Required:

2. What is the total overhead cost incurred by SmokeCity last year?

$

3. What is the total fixed overhead cost incurred by SmokeCity last year?

$

4. What is the total variable overhead cost incurred by SmokeCity last year?

$

For questions 5-7, round your answers to the nearest cent. Use those rounded figures in subsequent computations, if necessary.

5. What is the overhead cost per unit produced?

$ per unit

6. What is the fixed overhead cost per unit?

$ per unit

7. What is the variable overhead cost per unit?

$ per unit

8. Recalculate Requirements 5, 6, and 7 for the following levels of production: (a) 21,000 units and (b) 22,800 units. Round your answers to the nearest cent.

21,000 Units 22,800 Units
Unit cost $ $
Unit fixed cost
Unit variable cost

In: Accounting

Walker Pen Company Jane Dempsey, controller of the Walker Pen Company, was concerned about the recent...

Walker Pen Company
Jane Dempsey, controller of the Walker Pen Company, was concerned about the recent financial trends in operating results. Walker Pen had been the low-cost producer of traditional BLUE pens and BLACK pens. Profit margins were over 22% of sales.
Several years earlier Dennis Selmor, the sales manager, had seen opportunities to expand the business by extending the product line into new products that offered premium selling prices over traditional BLUE and BLACK pens. Five years earlier, RED pens had been introduced; they required the same basic production technology but could be sold at a 3% premium. And last year, PURPLE pens had been introduced because of the 8% premium in selling price they could command.
But Dempsey had just seen the financial results (see Exhibit 1) for the most recent fiscal year and was keenly disappointed.
The new RED and PURPLE pens do seem more profitable than our BLUE and BLACK pens, but overall profitability is down, and even the new products are not earning the margins we used to see from our traditional products. Perhaps this is the tougher global competition I have been reading about. At least the new line, particularly PURPLE pens, is showing much higher margins. Perhaps we should follow Dennis's advice and introduce even more specialty colored pens. Dennis claims that consumers are willing to pay higher prices for these specialty colors.
Jeffrey Donald, the manufacturing manager, was also reflecting on the changed environment at the Walker Pen Company:
Five years ago, life was a lot simpler. We produced just BLUE and BLACK pens in long production runs, and everything ran smoothly, without much intervention. Difficulties started when the RED pens were introduced and we had to make more changeovers. This required us to stop production, empty the vats, clean out all remnants of the previous color, and then start the production of the red ink. Making black ink was simple; we didn't even have to clean out the residual blue ink from the previous run if we just dumped in enough black ink to cover it up. But for the RED pens, even small traces of the blue or black ink created quality problems. And the ink for the new PURPLE pens also has demanding specifications, but not quite as demanding as for RED pens.
We seem to be spending a lot more time on purchasing and scheduling activities and just keeping track of where we stand on existing, backlogged, and future orders. The new computer system we got last year helped a lot to reduce the confusion. But I am concerned about rumors I keep hearing that even more new colors may be introduced in the near future. I don't think we have any more capability to handle additional confusion and complexity in our operations.
Exhibit 1
Traditional Income Statement
Blue Black Red Purple Total
Sales $88,408 $64,328 $15,930 $1,674 $170,340
Material costs 29,298 21,318 5,040 468 $56,124
Direct labor 12,028 8,752 2,106 211 $23,097
Overhead @ 270% 32,476 23,630 5,686 570 $62,362
Total operating income $14,606 $10,628 $3,098 $425 $28,757
Return on sales 17% 17% 19% 25% 17%
Operations
The Walker Pen Company produces pens in a single factory. The major task is preparing and mixing the ink for the different-colored pens. The ink is inserted into the pens in a semiautomated process. A final packing and shipping stage is performed manually.
Each product has a bill of materials that identifies the quantity and cost of direct materials required for the product. A routing sheet identifies the sequence of operations required for each operating step. This information is used to calculate the labor expenses for each of the four products. All of the plant's indirect expenses are aggregated at the plant level and allocated to products on the basis of their direct labor content. Currently, this overhead burden rate is 270% of direct labor cost. Most people in the plant recalled that not too many years ago the overhead rate was only 200%.
Activity-Based Costing
Jane Dempsey recently attended a seminar of her professional organization in which a professor had talked about a new concept, called activity-based costing (ABC). This concept seemed to address many of the problems she had been seeing at the Walker Pen Company. The speaker even used an example that seemed to capture Walker's situation exactly.
The professor argued that overhead should not be viewed as a cost or a burden to be allocated on top of direct labor. Rather, the organization should focus on activities performed by the indirect and support resource of the organization and try to link the cost of performing these activities directly to the products for which they were performed. Dempsey obtained several books and articles on the subject and soon tried to put into practice the message she had heard and read about.
Activity-Based Cost Analysis
Dempsey first identified six categories of support expenses that were currently being allocated to pen production:
Expense Category Expense
Indirect labor $20,626
Fringe benefits 17,489
Computer systems 10,193
Machinery 7,396
Maintenance 4,437
Energy 2,221
Total $62,362
She determined that the fringe benefits were 40% of labor expenses (both direct and indirect) and would thus represent just a percentage markup to be applied on top of direct and indirect labor charges.
Dempsey interviewed department heads in charge of indirect labor and found that three main activities accounted for their work. About 52% of indirect labor was involved in scheduling or handling production runs. This proportion included scheduling production orders; purchasing, preparing, and releasing materials for the production run; performing a first-item inspection every time the process was changed over, and some scrap loss at the beginning of each run until the process settled down. Another 40% of indirect labor was required just for the physical changeover from one color pen to another.
The time to change over to BLACK pens was relatively short (about 1.1 hour) since the previous color did not have to be completely eliminated from the machinery. Other colors required longer changeover times; RED pens required the most extensive changeover to meet the demanding quality specification for this color.
The remaining 8% of the time was spent maintaining records on the four products, including the bill of materials and routing information, monitoring and maintaining a minimum supply of raw materials and finished goods inventory for each product, improving the production processes, and performing engineering changes for the products. Dempsey also collected information on potential activity cost drivers for Walker's activities (see Exhibit 2) and the distribution of the cost drivers for each of the four products. Dempsey next turned her attention to the $10,193 of expenses to operate the company's computer system. She interviewed the managers of the Data Center and the Management Information System departments and found that most of the computer's time (and software expense) was used to schedule production runs in the factory and to order and pay for the materials required in each production run.
Because each production run was made for a particular customer, the computer time required to prepare shipping documents and to invoice and collect from a customer was also included in this activity. In total, about 79% of the computer resource was involved in the production run activity. Almost all of the remaining computer expense (21%) was used to keep records on the four products, including production process and associated engineering change notice information.
The remaining three categories of overhead expense (machine depreciation, machine maintenance, and the energy to operate the machines) were incurred to supply machine capacity to produce the pens. The machines had a practical capacity of 10,100 hours of productive time that could be supplied to pen production.
Dempsey believed that she now had the information she needed to estimate an activity-based cost model for the Walker Pen Company.
Exhibit 2
Direct Costs and Activity Cost Drivers
Blue Black Red Purple Total
Production sales volume
(no. of units) 51,400 37,400 9,000 900 98,700
Unit selling price $1.72 $1.72 $1.77 $1.86
Materials/unit cost $0.57 $0.57 $0.56 $0.52
Direct labor hr/unit 0.02 0.02 0.02 0.02 1,974
Machine hour/unit 0.11 0.09 0.11 0.10 10,100
No. of production runs 53 41 41 11 146
Setup time/run (hours) 4.60 1.10 6.40 3.80
Total setup time (hours) 244 45 262 42 593
Number of products 1 1 1 1 4
Required:
1. Design an Excel model to estimate the costs for the four pen products using an activity-based costing approach (provide a unit cost per pen color).
2. Prepare a revised income statement with profit margin calculations. The income statement should be modeled on Exhibit 1 and include cost by pen color and in total.
3. Write an Executive Memo to Jane Dempsey and Dennis Selmor explaining the managerial implications from the revised cost estimates.
4. Bonus Question: Why is it acceptable for the fringe benefits associated with direct to be in the overhead cost pool when using direct labor as the allocation base and it is not acceptable for the fringe benefits associated with direct labor to be in the overhead cost pool when using ABC?
Round total costs and driver amounts; use 2 decimal places for activity rates and unit costs. After allocating costs, your total overhead cost may have a rounding error of $6.
Hints:
1.) The cost of the blue pen using ABC is: $1.34 (rounded).
2.) The overhead cost pool for the ABC method totals $53,123.
3.) When switching from the plant wide allocation of overhead using direct labor as the allocation base to the ABC method, you must assign to direct labor the fringe benefits associated with direct labor and not maintain this portion of the fringe benefits in the overhead cost pool.
4.) Production is one of four activities used in the analysis.

In: Accounting

Office Automation, Inc., developed a proposal for introducing a new computerized office system that will standardize...

Office Automation, Inc., developed a proposal for introducing a new computerized office system that will standardize the electronic archiving of invoices for a particular company. Contained in the proposal is a list of activities that must be accomplished to complete the new office system project. Use the following relevant information about the activities:

Immediate Time (weeks) Cost ($1000s)
Activity Description Predecessor(s) Normal Crash Normal Crash
A Plan needs — 12 8 30 110
B Order equipment A 8 6 120 150
C Install equipment B 10 7 100 160
D Set up training lab A 7 6 40 50
E Conduct training course D 10 8 50 75
F Test system C, E 3 3 60 —
  1. Which project network is correct?
    (i) (ii)
    (iii) (iv)

      
  2. Develop an activity schedule. If your answer is zero, enter “0”.
    Earliest Latest Earliest Latest Critical
    Activity Start Start Finish Finish Slack Activity
    A
    B
    C
    D
    E
    F
  3. What are the critical activities, and what is the expected project completion time?

    Critical Path:   

    Expected project completion time =  weeks.
  4. Assume that the company wants to complete the project in six months or 26 weeks. What crashing decisions do you recommend to meet the desired completion time at the least possible cost? Work through the network and attempt to make the crashing decisions by inspection.
    Crash Activities Number of Weeks Cost ($1000s)
    A 4
    B 2
    C 1
    D 1
    E 1
  5. Develop an activity schedule for the crashed project. If your answer is zero, enter “0”.
    Earliest Latest Earliest Latest Critical
    Activity Start Start Finish Finish Slack Activity
    A
    B
    C
    D
    E
    F
  6. What added project cost is required to meet the six-month completion time?

    Total added cost due to crashing $

In: Statistics and Probability