Beans manufactures a single product, details of which are as follows.

Annual fixed production overheads are budgeted to be $10 million and the company expects to produce 200,000 units each year. Overheads are absorbed on a per unit basis.

Fixed operational expenses for the quarter are as follows

·         Selling costs $400,000

·         Administrative costs $1,500,000

·         Distribution costs $600,000

Actual stock data for quarter of 2020 are given below.

Required-

a.       Calculate Opening stock.

b.      Prepare a Marginal Costing Statement.

c.       Prepare an Absorption Costing Statement.

d.      Reconcile profit figures from both statements.

Andrew and Jeff are attempting to determine if their GRE scores are high enough to get into the graduate schools they are interested in. DeCicco College has an average GRE score of 1550 with a standard deviation of 45. Jeff achieves a score of 1450 and Andrew a score of 1300.

a. What is the probability of the score Jeff achieved occurring within those that are accepted to the university? (e.g. what is his percentile rank?)

B. What is the probability of the score Andrew achieved occurring within those that are accepted to the university? (e.g. what is his percentile rank?)

c. Is it probable that Jeff will be accepted based on his score? d. Is it probable that Andrew will be accepted based on his score?

Christine’s son is 2 months old and makes a visit to the pediatrician for a well-visit. The average height for a 2 month old in the US is 20 inches with a standard deviation of 2. Christine’s son is 22 inches.

Determine his percentile rank.

What percentage of children fall between one standard deviation above and below the mean.

Adrian has a beagle named Sadie. Sadie has a healthy appetite and Adrian is concerned that she might be eating too much. Adrian weighs Sadie and finds she is 30 pounds. The national average is 25 pounds with a standard deviation of 3 pounds.

a. Determine Sadie’s percentile rank.

b. Should Adrian be very concerned about Sadie’s weight?

For a population with a mean of μ = 80 and a standard deviation of σ = 12, find the z- score corresponding to each of the following samples.

a. M = 83 for a sample of n = 4 scores

b. M = 83 for a sample of n = 16 scores

c. M = 83 for a sample of n = 36 scores.

The population of IQ scores form a normal distribution with a μ = 100 and a standard deviation of σ = 10.

What is the probability of obtaining a sample mean greater than M = 97, For a random sample of n = 9 For a random sample of n = 25 people

Most analysts think that the US$ was overvalued in the 1990s and 2000s. This is certainly suggested by the persistent trade deficits run between the US and the rest of the world. What accounts for the persistent high value of the US$? What impact does the high value have on GDP and inflation in the US?

1. What type of study is this?

2. Based on description of the study, what is (are) the dependent variable(s)?

3. Classify the variable(s) you listed in #2 in each of the three ways.

4. What is (are) the independent variables?

5. Classify the variable(s) you listed in #4 in each of the three ways.

6. List two confounding variables that may offset the conclusions of this experiment.

7. What measures could have been taken in order to control for these confounding variable?

A sock company is considering branching off and manufacturing gloves. In order to determine the types of gloves to make and sell, they randomly selected and interviewed 500 people. In the interview, subject was asked their age and profession. Then they were given four different gloves: leather, cotton, fleece and polyester. After trying each pair on, they were told that they could take and keep whichever pair they preferred.

The researchers concluded that lawyers prefer leather gloves, teachers prefer cotton gloves, and adults between 18 and 30 prefer polyester of fleece gloves.

1. Marv and Delores, married taxpayers who file a joint return, sell their personal residence on December 1st for $180,000. They lived in the house for the past 52 years. Their adjusted basis in their home was $35,000. Calculate their recognized (taxable) gain on the sale of their personal residence.

2. The following transactions were reported on a 1099-B. The taxpayer, who files as single, had taxable income of $100,000. Calculate the tax owed on the transactions.

1. Marv and Delores, married taxpayers who file a joint return, sell their personal residence on December 1st for $180,000. They lived in the house for the past 52 years. Their adjusted basis in their home was $35,000. Calculate their recognized (taxable) gain on the sale of their personal residence.

2. The following transactions were reported on a 1099-B. The taxpayer, who files as single, had taxable income of $100,000. Calculate the tax owed on the transactions.

The US President Donald Trump and his advisors have repeatedly said that they intended to get rid of the US trade deficit.

Question 01: As of April 8th 2018, list the goods and the countries for which the US has decided to create new tariffs. For these goods, what are the amounts currently imported by the US? (Words 250)

Question 02: List the US goods for which China has decided to create new tariffs. For these goods, what are the amounts currently imported by China? (Words 200)

Question 03: Assume that the new tariffs will decrease both US exports to China and Chinese exports to the US by 30% (only for the targeted goods). Building on your answer on questions 1 to 4, what would be the impact of the new tariffs on the US-China trade deficit? Support your answer with numbers (Words 200)