The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

On page 11 of the journal:

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year: Account No. Account Name Balance 211 Salaries Payable — 212 Social Security Tax Payable $9,280 213 Medicare Tax Payable 2,320 214 Employees Federal Income Tax Payable 15,460 215 Employees State Income Tax Payable 13,908 216 State Unemployment Tax Payable 1,320 217 Federal Unemployment Tax Payable 550 218 Bond Deductions Payable $3,800 219 Medical Insurance Payable 19,800 411 Operations Salaries Expense 960,000 511 Officers Salaries Expense 600,000 512 Office Salaries Expense 150,000 519 Payroll Tax Expense 137,951 The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December: On page 10 of the journal: Dec. 2 Issued Check No. 410 for $3,800 to Jay Bank to purchase U.S. savings bonds for employees. 2 Issued Check No. 411 to Jay Bank for $27,060 in payment of $9,280 of social security tax, $2,320 of Medicare tax, and $15,460 of employees’ federal income tax due. 13 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $41,000 Officers 27,600 Office 6,400 $75,000 Deductions: Social security tax $ 4,500 Medicare tax 1,125 Federal income tax withheld 15,000 State income tax withheld 3,375 Savings bond deductions 1,900 Medical insurance deductions 3,300 29,200 Net amount $45,800 13 Issued Check No. 420 in payment of the net amount of the biweekly payroll. 13 Journalized the entry to record payroll taxes on employees’ earnings of December 13: social security tax, $4,500; Medicare tax, $1,125; state unemployment tax, $330; federal unemployment tax, $115. 16 Issued Check No. 424 to Jay Bank for $26,250, in payment of $9,000 of social security tax, $2,250 of Medicare tax, and $15,000 of employees’ federal income tax due. 19 Issued Check No. 429 to Sims-Walker Insurance Company for $23,100 in payment of the semiannual premium on the group medical insurance policy. On page 11 of the journal: Dec. 27 Journalized the entry to record the biweekly payroll. A summary of the payroll record follows: Salary distribution: Operations $40,600 Officers 28,400 Office 6,600 $75,600 Deductions: Social security tax $ 4,536 Medicare tax 1,134 Federal income tax withheld 14,964 State income tax withheld 3,402 Savings bond deductions 1,900 25,936 Net amount $49,664 27 Issued Check No. 541 in payment of the net amount of the biweekly payroll. 27 Journalized the entry to record payroll taxes on employees’ earnings of December 27: social security tax, $4,536; Medicare tax, $1,134; state unemployment tax, $230; federal unemployment tax, $65. 27 Issued Check No. 543 for $20,685 to State Department of Revenue in payment of employees’ state income tax due on December 31. 31 Issued Check No. 545 to Jay Bank for $3,800 to purchase U.S. savings bonds for employees. 31 Paid $51,000 to the employee pension plan. The annual pension cost is $68,000. (Record both the payment and unfunded pension liability.) Required: 1. Journalize the transactions on pages 10 and 11 of the journal. Refer to the Chart of Accounts for exact wording of account titles. 2. On page 12 of the journal, journalize the following adjusting entries on December 31 (refer to the Chart of Accounts for exact wording of account titles): A. Salaries accrued: operations salaries, $8,540; officers salaries, $5,640; office salaries, $1,390. The payroll taxes are immaterial and are not accrued. B. Vacation pay, $14,700.

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

On page 11 of the journal:

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

On page 11 of the journal:

The following accounts, with the balances indicated, appear in the ledger of Garcon Co. on December 1 of the current year:

The following transactions relating to payroll, payroll deductions, and payroll taxes occurred during December:

On page 10 of the journal:

On page 11 of the journal:

Xania Inc. uses a normal job-order costing system. Currently, a plantwide overhead rate based on machine hours is used. Xania's plant manager has heard that departmental overhead rates can offer significantly better cost assignments than a plantwide rate can offer. Xania has the following data for its two departments for the coming year:

Required:

1. Compute a predetermined overhead rate for the plant as a whole based on machine hours.

2. Compute predetermined overhead rates for each department using machine hours for Department A and direct labor hours for Department B. (Note: Carry your calculations out to the nearest dollar.)

3. Job 73 used 25 machine hours from Department A and 50 machine hours from Department B; it used 30 direct labor hours from Department A and 20 direct labor hours from Department B. Job 74 used 40 machine hours from Department A and 15 machine hours from Department B; it used 20 direct labor hours from Department A and 50 direct labor hours from Department B. Compute the overhead cost assigned to each job using the plantwide rate computed in Requirement 1. Repeat the computation using the departmental rates found in

Requirement 2.

4. Using a Plantwide, if actual machine hours for the year were 17,000 hours and actual overhead costs were $1,100,000, how much was overhead under- or over-applied for the year and how would that affect Cost of Goods Sold when it is closed to that account. $$_________________________ over-applied/under-applied (circle one) $$_________________________ Cost of Goods Sold increased/decreased (circle one)

2. Download the BodyTemp.MTW file from Canvas. We will be comparing the body temperatures of men and women.  [30 points]

A.Make a graph to compare the distributions of men and women’s body temperatures.

B. Use Minitab Express to determine if there is evidence that the mean body temperatures of men and women are different.  The coding of gender is 0=man and 1=woman. Assume that the distribution of the body temperature data is normal. Use the five-step hypothesis testing procedure and remember to include all relevant Minitab Express output. You should not need to do any hand calculations.

Step 1:Check assumptions and write hypotheses

Step 2: Calculate the test statistic

Step 3:Identify the pvalue

Step 4:Make a decision

Step 5:State a “real world” conclusion

Question 3)The final grades in Math class of 80 students at State University are recorded in the accompanying table.

A.The given data set is in ascending order. If class interval size is 3 for the constructed 14 classes, find “m”.(Note: This section is not related with section B)

B.Construct a frequency table with 8 classes and find its frequencies.

i)Find median class

ii)Sketch the ogive curves by using either the cumulative frequency or the cumulative relative frequency.

iii)Using the ogive curve find the following probabilities:

P(x<76.5)=

P(x>88.5)=

P(x>84)=

P(x<90)=

P(74<x<92)=

P(x=78)=

iv)Find interquartile range (IQR)

v)Sketch box and whisker plot.

vi)Comment on skewness.

vii)The standard deviation and mean of another math class of 49 students from Technology University is 10.3 and 88.6, respectively. Compare the Math class in State University with Math class in Technology University, which one is more consistent? In other words which Math class has less spread of values around its mean? Show your work and explain why?Note: You can find the necessary parameters for the State University either from raw data given or from the frequency table you constructed.

Use the distribution in the form of the stem-leaf plot.

Stem      Leaves

1                 1478

2              01237888

3                  189          

16/ The mid-point of the third class is

A./   32   B/   36 C/    34.5 D/   35

17/ The median is

A./   24 B/  23 C/ 25   D/ 5

18/ The relative frequency for the third class is:

A./   20%   B/  50% C/    66% D/   40%

19/ The heights of a group of professional basketball players are summarized in the frequency distribution below. Find the mean height from this frequency table.

Height s (in)           Frequency

70-72                            4

73-75                            6

76-78                            8

79-81                            2

A./   75.2 in   B/  76.8 in C/    74.0 in D/   77.5 in

20/ The temperatures ( in ºF ) in a room is recorded at the top of hours are

67, 68, 70 , 5, 77, 77, 78, 80, 78, 79, 74, 74. Choose best answer:

a/  It is a typo

b/  highest temperature is probably 95

c/  5 is not an outlier

d/  5 is an outlier

21/ The variance of 6 washing machines with prices:  $ 800, $784, $ 1,235, $860, $1,036 and $770 is

A/ 196.4 B/   34,295.3 C/ 26,002.7 D/ 185.2

22/ The coefficient of variation ( round to closest %) for the set of data  :

1, 3, 3, 5, 5, 6, 7, 8, 9 ,12, 15, 24  is

A   74% B/ 67% C/ 24% D/ 78 %

23/ Human body temperatures have the mean of 98.2º  and a standard deviation of 0.6º.

Amy’s temperature can be described by z = 0.9. What is her temperature?

A/ 98.2º B/ 97.8º C/   98.7º D/ 99.3º

24/ The upper bound for the outlier for the data set

-11, 14, 22, 22, 22, 23, 31, 31, 42, 44, 44, 75    is

A/  74.5 B/  75 C/ 84 D/   68

25/ The box-plot of a data with 5- point summary   2, 6, 8, 11, 18

A/is positive skewed. B/ is negative skewed.

C/ is symmetric D/ perfect skewed

Martin-Pullin Bicycle Corp. (MPBC), located in Dallas, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by cousins Ray Martin and Jim Pullin, the firm’s primary retail outlets are located within a 400 mile radius of the distribution center. These retail outlets receive the order from Martin-Pullin within two days after notifying the distribution center, provided that the stock is available. However, if an order is not fulfilled by the company, no backorder is placed. The retailers arrange to get their shipment from other distributors, and MPBC loses that amount of business.

The company distributes a wide variety of bicycles. The most popular model, and the major source of revenue to the company, is the AirWing. MPBC receives all the models from a single overseas manufacturer, and shipment takes as long as four weeks from the time an order is placed. With the cost of communication, paperwork, and customs clearance included, MPBC estimates that each time an order is placed, it incurs a cost of $65. The purchase price paid by MPBC, per bicycle, is roughly 60% of the suggested retail price for all the bike models available. The inventory carrying cost is 1% per month (12% per year) of the purchase price paid by MPBC. The retail price (paid by the customer) for the AirWing is $170 per bicycle.

MPBC is interested in making an inventory plan for 2011. The firm wants to maintain a 95% service level with its customers to minimize the impact of lost orders. The data collected for the past two years is summarized in the following table. A forecast for AirWing model sales in upcoming year 2011 has been developed and will be used to make an inventory plan for MPBC.

Questions

1. Develop an inventory plan to help MPBC.
2. Discuss ROPs and total costs.
3. How can you address demand that is not at the level of the planning horizon?