Question: ForestLand Wood Products manufactures lumber and wood components. The company has two main produc...

ForestLand Wood Products manufactures lumber and wood components. The company has two main product lines: Hardwood and Softwood. Hardwoods are used for flooring, cabinetry, paneling, doors and trimwork. Softwoods are used for wall studs, joists, planks, rafters, beams, stringers, posts, decking, subflooring and concrete forms. ForestLand also sells a by-product, wood shavings and saw dust. Shavings are purchased for farm and industrial use as well as for further processing into wood pellets and fiber board. The revenue is allocated to each product line based on the percentage of thousand board feet produced by the product line.

Your accounting firm has been retained by ForestLand for three years. You have been assigned to properly allocate support department costs. Your manager wants the allocation to be as accurate as possible and has instructed you to use the reciprocal services method. She reminds you that revenue from by-products are used to offset costs.

You begin your research and learn that there are four production departments: log yard, milling, drying, and packaging. The Hardwood line produces 300 thousand board feet of product while the Softwood produces 900 thousand board feet. The milling department direct costs, direct labor and overhead per thousand board feet for Hardwood is two times that of Softwood. You have been instructed to use the weighted average method to allocate the costs in the milling department between the two product lines. The remaining department costs are the same for both product lines, per thousand board feet.

There are two support departments: maintenance and administration. The maintenance department is responsible for maintaining all equipment and janitorial duties. Because the equipment is used more extensively for hardwoods, the department cost driver is hours worked. The administration department includes the company president and his staff. Their duties include accounting, human resources, and information technology. The cost driver for the administration department is number of employees.

In your first step, you determine the costs traced to each department and the usage of the support department cost drivers. You have created the following table:

Your next step is to determine the proportional usage of each support department's cost driver by the other departments to which its costs are to be allocated. Complete the following tables.

Using the cells below, create the formulas that will simultaneously allocate support department costs among the departments. "M" represents Maintenance and "A" represents Administration.

M = $ + (%  )

A = $ + (%  )

Solve the equations, If required round any decimal to three places in your computations. For example, .0183 would be rounded to .018. Round your final answer to the nearest dollar.

M = $

A = $

Use the following table to allocate the support cost departments. Round allocated amounts to the nearest whole dollar. If an amount is zero, enter "0".

Using the rounded amounts from the support cost allocation table (previous task), complete the following table to allocate the production department costs to each product line. Round allocated amounts to the nearest whole dollar.

Forest Land earns revenue of $100,000 from selling its by-products, wood shavings and saw dust. Allocate the revenue to each product line in the following table and determine the final cost per product line.

"Time headway" in traffic flow is the elapsed time between the time that one car finishes passing a fixed point and the instant that the next car begins to pass that point. Let X = the time headway for two randomly chosen consecutive cars on a freeway during a period of heavy flow (sec). Suppose that in a particular traffic environment, the distribution of time headway has the following form.

f(x) =

(a) Determine the value of k for which f(x) is a legitimate pdf.


(b) Obtain the cumulative distribution function.
F(x) =

(c) Use the cdf from (b) to determine the probability that headway exceeds 2 sec. (Round your answer to three decimal places.)


Use the cdf from (b) to determine the probability that headway is between 2 and 3 sec. (Round your answer to three decimal places.)


(d) Obtain the mean value of headway and the standard deviation of headway. (Round your answers to three decimal places.)

(e) What is the probability that headway is within 1 standard deviation of the mean value? (Round your answer to three decimal places.)

Because friends and neighbors frequently praise her baking skills, Becky plans to start a new business baking cakes for customers. She wonders how to determine the cost of her cakes. Assume financial statement data are prepared in accordance with GAAP.

1. Identify the three components of product cost incurred in producing cakes and give examples of each. Also classify the costs as fixed, variable, or mixed. Explain any assumptions you use in determining your costs and classifying them.

2. Explain why measuring product cost for a bakery (or other manufacturing company) is more complex than measuring product cost for a retail store.

An insurance company has an online help service for its customers. Customer queries that take more than 5 minutes to resolve are categorized as​ "unsatisfactory" experiences. To evaluate the quality of its​ service, the company takes 10 samples of 100 calls each while the process is under control.

p values (n = 100)

0.06

0.14

0.13

0.05

0.16

0.08

0.17

0.04

0.19

0.16

a. calculate the p̄ and S_p values and set up control limits so that future sample p values should fall within the control limits 99.7% of the time

The p̄ value is _____. (enter your response rounded to three decimal places.)

The controller of a large retail chain is concerned about a possible slowdown in payments by customers. The controller randomly selects a sample of 10 accounts, with the following ages (in days):

40, 45, 50, 65, 70, 75, 78, 80, 82, 85

The sample standard deviation (s) is 15.53.

The controller wants to determine if the population mean number of days that the company must wait to get paid exceeds 65, which is the historical average. If it does, the company must take some action to ensure they are paid in a more timely manner

Calculate the test statistic (round to three decimal places, e.g. 2.0155 becomes 2.016).

The company has just reached agreement to open a new sales office in Africa in order to better serve customers in that market. Although support personnel will be hired locally, three sales representatives from headquarters will be transferred to this office for a period of two years in order to get it “up and running.” The national sales manager has asked you to prepare a report outlining the intercultural communication issues that these sales reps likely will face.

Discuss business communication in Africa: prevailing norms of communication, cultural differences in listening, nonverbal communication, gender differences in communication, and other factors that may play a role in the success of these sales representatives in establishing an office in the country.

Create a program that will ask the user to choose their order from a simple menu. Customers first choose from three types of dishes: Sandwiches/wraps, Rice Meals, or Noodles. They can type in 1, 2, or 3 to select the type then, they choose a specific dish as shown below. Confirm their order by displaying it on the screen after they make their selection. 1. Sandwiches/wraps Hamburger Chicken shawarma 2. Rice meals Arroz con pollo Chana masala 3. Noodles Chow mein Pasta al pomodoro Which variation of the if statement would best fit the requirements (if, if-else, if-else-if chain, nested if)? Create the complete C++ program.

1.

Consider the following data for the following economy,

where there only two goods: wine and cheese. In the

following table are data for three different years. Use the

first year, 2016, as the base year in calculating real

GDP, the GDP deflator, and the CPI.

2016

2017

2018

P

Q

P

Q

P

Q

Wine

$2.50

25

$3.50

30

$ 4.00

35

Cheese

$7.00

20

$9.00

20

$ 10.00

25

a.

Calculate the inflation rate b

etween 2016

and 2017 and then between 2017 and 2018

using

a Laspeyres

index (call it the CPI

).

b. Calculate

the inflation rate between 201

6 and 2017 and then

between 2017 and 2018

using

a Paasche index

(call it the

GDP deflator

).

c.

Calculate the growth rate of

nominal GDP between 2016 and 2017

and then between 2017 and 2018.

d. Calculate the grow

th rate of real GDP between 2016 and 2017

and then between 201

7 and 2018.

Bombardier Inc. specializes in manufacturing transportation products (aircraft, railway equipment, snowmobiles, and watercraft). The company offers warranties on all of its products. Note 2 to Bombardier’s financial statements for fiscal year 2015 stated the following: Product warranties typically range from one to five years, except for aircraft and bogie structural warranties that extend up to 20 years. Selected information from Bombardier’s annual reports follows (amounts in millions of U.S. dollars): 2015 2014 2013 Revenues 16,968 18,547 18,092 Provision for product warranties at year-end 1,006 1,113 1,160 During fiscal year 2015, Bombardier paid $405 million to customers in exchange for returned products under the warranty.

Required: 1. Compute the amount of warranty expense for fiscal year 2015. (Enter your answer in millions of dollars.)

2. Prepare journal entries to record both the warranty expense for the year and the payments made under the warranty. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions of dollars.)

• Record payments to customers in exchange for returned products.
• Record entry to recognize warranty expense for the period.

3-a. Compute the ratio of the warranty liability to revenues for the three years. (Round percentage answers to 2 decimal places (i.e., 0.1243 should be entered as 12.43).)

3-b. Has the ratio increased or decreased during the three-year period?

4. Based on the limited information available about the warranty expense and payments in 2015, should Bombardier increase the balance of the warranty liability in future years? Yes No