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Weston Corporation manufactures a product that is available in both a deluxe and a regular model. The company has made the regular model for years; the deluxe model was introduced several years ago to tap a new segment of the market. Since introduction of the deluxe model, the company’s profits have steadily declined, and management has become concerned about the accuracy of its costing system. Sales of the deluxe model have been increasing rapidly. |
|
Overhead is applied to products on the basis of direct labor-hours. At the beginning of the current year, management estimated that $3,752,000 in overhead costs would be incurred and the company would produce and sell 8,000 units of the deluxe model and 40,000 units of the regular model. The deluxe model requires 2.0 hours of direct labor time per unit, and the regular model requires 1.0 hour. Materials and labor costs per unit are given below: |
| Deluxe | Regular | |||||
| Direct materials cost per unit | $ | 50.00 | $ | 30.00 | ||
| Direct labor cost per unit | $ | 30.00 | $ | 15.00 | ||
| Required: | |
| 1-a. | Compute the predetermined overhead rate using direct labor-hours as the basis for allocating overhead costs to products. |
| 1-b. | Compute the unit product cost for one unit of each model. |
| 2. |
An intern suggested that the company use activity-based costing to cost its products. A team was formed to investigate this idea. It came back with the recommendation that four activity cost pools be used. These cost pools and their associated activities are listed as follows: |
| Expected Activity | |||||
| Activity Cost Pool and Activity Measure | Estimated Overhead Cost |
Deluxe |
Regular |
Total |
|
| Purchase orders (number of orders) | $ | 70,000 | 300 | 1,100 | 1,400 |
| Rework requests (number of requests) | 370,000 | 600 | 2,360 | 2,960 | |
| Product testing (number of tests) | 330,000 | 6,700 | 7,050 | 13,750 | |
| Machine related (machine-hours) | 2,982,000 | 3,000 | 6,940 | 9,940 | |
| $ | 3,752,000 | ||||
| Compute the activity rate for each of the activity cost pools. |
| 3. | Assume that actual activity is as expected for the year. Using activity-based costing, do the following: |
| a. | Determine the total amount of overhead that would be applied to each model for the year. |
| b. | Compute the unit product cost for one unit of each model. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) |
In: Accounting
|
Age (yr.) |
Weight (lb.) |
Height (in.) |
Neck (cm) |
Chest (cm) |
Wrist (cm) |
Hip (cm) |
Thigh (cm) |
Knee (cm) |
Body Fat % |
|
22 |
173.25 |
72.25 |
38.5 |
93.6 |
18.2 |
98.7 |
58.7 |
37.3 |
6.1 |
|
22 |
154.00 |
66.25 |
34.0 |
95.8 |
16.6 |
99.2 |
59.6 |
38.9 |
25.3 |
|
23 |
154.25 |
67.75 |
36.2 |
93.1 |
17.1 |
94.5 |
59.0 |
37.3 |
12.3 |
|
23 |
198.25 |
73.50 |
42.1 |
99.6 |
19.2 |
104.1 |
63.1 |
41.7 |
11.7 |
|
23 |
159.75 |
72.25 |
35.5 |
92.1 |
18.2 |
93.9 |
56.1 |
36.1 |
9.4 |
|
23 |
188.15 |
77.50 |
38.0 |
96.6 |
18.3 |
102.5 |
59.1 |
37.6 |
10.3 |
|
24 |
184.25 |
71.25 |
34.4 |
97.3 |
17.7 |
101.9 |
63.2 |
42.2 |
28.7 |
|
24 |
210.25 |
74.75 |
39.0 |
104.5 |
18.8 |
107.8 |
66.0 |
42.0 |
20.9 |
|
24 |
156.00 |
70.75 |
35.7 |
92.71 |
17.3 |
95.3 |
56.4 |
36.5 |
14.2 |
iii. (age, wrist) iv. (weight, body fat)
v. (chest, hip) vi. (age, weight)
vii. (chest, neck) viii. (height, knee)
In: Statistics and Probability
Use the CO2 data and via Multiple regression select the two variables that predict the CO2 level with the best P-value. Make another table with these two variables and answer the questions. Numerical answers are rounded so choose the answer that matches the best:
Hour CO Traffic Wind
1 2.4 50 -0.2
2 1.7 26 0.0
3 1.4 16 0.0
4 1.2 10 0.0
5 1.2 12 0.1
6 2.0 41 -0.1
7 3.4 157 -0.1
8 5.8 276 -0.2
9 6.8 282 0.2
10 6.6 242 1.0
11 6.3 200 2.3
12 5.8 186 3.8
13 5.5 179 4.6
14 5.9 178 5.4
15 6.8 203 5.9
16 7.0 264 5.9
17 7.4 289 5.6
18 7.4 308 4.9
19 6.4 267 3.8
20 5.0 190 2.5
21 3.8 125 1.4
22 3.5 120 0.6
23 3.3 116 0.4
24 3.1 87 0.1
Answer the questions for Assessment:
13. What are the two selected variables? a. Hour and Traffic b. Wind and Traffic c. Hour and Wind
14. Which of the variables has a better P-value and what is this P-value? (Note: numbers are truncated.) a. Traffic; 0.018 b. Traffic; 6.85E-12 c. Wind; 0.0056 d. Wind; 0.174
15. Based on the table, how would you characterize the Regression fit? a. Poor b. Good c. Excellent
16. What is another name for the coefficient 1.274461 and what is its interpretation based on the data? a. The X-intercept; when the average weekday traffic density and the perpendicular wind-speed component are zero.
b. The slope of an average summer weekday's CO2 concentration. It is how much the CO2 concentration will increase when both the average weekday traffic density and the perpendicular wind-speed component increase by 1 unit.
c. The Y-intercept; It is how much the CO2 concentration will increase when both the average weekday traffic density and the perpendicular wind-speed component are zero.
d. The Y-intercept; it is the average summer weekday CO2 concentration when the average weekday traffic density and the perpendicular wind-speed component are zero.
e. None of these
In: Statistics and Probability
Suppose the inflation rate is expected to be 6% next year, 4.9% the following year, and 2.9% thereafter. Assume that the real risk-free rate, r*, will remain at 1.7% and that maturity risk premiums on Treasury securities rise from zero on very short-term bonds (those that mature in a few days) to 0.2% for 1-year securities. Furthermore, maturity risk premiums increase 0.2% for each year to maturity, up to a limit of 1.0% on 5-year or longer-term T-bonds.
Calculate the interest rate on 1-year Treasury securities. Round your answer to two decimal places. %
Calculate the interest rate on 2-year Treasury securities. Round your answer to two decimal places. %
Calculate the interest rate on 3-year Treasury securities. Round your answer to two decimal places. %
Calculate the interest rate on 4-year Treasury securities. Round your answer to two decimal places. %
Calculate the interest rate on 5-year Treasury securities. Round your answer to two decimal places.%
Calculate the interest rate on 10-year Treasury securities. Round your answer to two decimal places.%
Calculate the interest rate on 20-year Treasury securities.
Round your answer to two decimal places.%
Select the correct yield curve based on these data.
In: Finance
Poisson
1. Passengers of the areas lines arrive at random and independently to the documentation section at the airport, the average frequency of arrivals is 1.0 passenger per minute.
to. What is the probability of non-arrivals in a one minute interval?
b. What is the probability that three or fewer passengers arrive at an interval of one minute?
C. What is the probability not arrived in a 30 second interval?
d. What is the probability that three or fewer passengers arrive in an interval of 30 seconds?
2. The average number of spots per yard of fabric follows a Poisson distribution. If λ = 0.2 spot per square yard.
to. Determine the probability of finding 3 spots in 2 square yards.
b. What is the probability of finding more than two spots in 4 square yards?
C. What is the average stain in 10 square yards?
Hypergeometric
1. It is known that of 1000 units of ACME cars of a lot of 8000, they are red. If 400 cars were sent to a wholesaler, what is the probability that you will receive a hundred or less red cars. (Assume X = red auto)
a) P (X <= 100) =? (Hypergeometric)
b) P (X> 50) =?
c) E (x) = expected value red cars
I. Continuous Distribution: Normal
1. Long distance telephone calls have a normal distribution with µ x = 8 minutes and σx = 2 minutes. Taking a unit up.
to. What is the probability that a call will last between 4 minutes and 10 minutes?
b. What is the probability that a call will last less than 9 minutes?
C. What is the value of X so that 12% of the experiment values are greater than it?
d. If samples of size 64 are taken:
i. What proportion or probability of the sample means of the calls will be between 7 minutes and 9 minutes?
ii. What proportion or probability of the sample means of the calls is greater than 5 minutes?
iii. Between that two values from the sample mean are 90% of the data.
Exponential
1. The time to fail in hours of a laser beam in a cytometric machina can be modeled by an exponential distribution with λ = .0005
to. What is the probability that a laser will fail more than 10000 hours?
b. What is the probability that a laser will fail less than 20,000 hours?
C. What is the probability that a laser will fail between 10,000 and 20,000 hours?
In: Statistics and Probability
For this, problem, please include the excel procedure you used to arrive at an answer (screenshots, explanation, actual file, etc.).
| Brokerage | Overall Satisfaction with Electronic Trades | Satisfaction with Trade Price | Satisfaction with Speed of Execution |
| Scottrade, Inc. | 3.5 | 3.4 | 3.4 |
| Charles Schwab | 3.4 | 3.2 | 3.3 |
| Fidelity Brokerage Services | 3.9 | 3.1 | 3.4 |
| TD Ameritrade | 3.7 | 2.9 | 3.6 |
| E*Trade Financial | 2.9 | 2.9 | 3.2 |
| (Not listed) | 2.7 | 2.5 | 3.2 |
| Vanguard Brokerage Services | 2.8 | 2.6 | 3.8 |
| USAA Brokerage Services | 3.6 | 2.4 | 3.8 |
| Thinkorswim | 2.6 | 2.6 | 2.6 |
| Wells Fargo Investments | 2.3 | 2.3 | 2.7 |
| Interactive Brokers | 4.0 | 3.7 | 4.0 |
| Zecco.com | 2.5 | 2.5 | 2.5 |
| Firstrade Securities | 4.0 | 3.0 | 3.0 |
| Banc of America Investment Services | 2.0 | 4.0 | 1.0 |
The American Association of Individual Investors (AAII) On-Line Discount Broker Survey polls members on their experiences with electronic trades handled by discount brokers. As part of the survey, members were asked to rate their satisfaction with the trade price and the speed of execution, as well as provide an overall satisfaction rating. Possible responses (scores) were no opinion (0), unsatisfied (1), somewhat satisfied (2), satisfied (3), and very satisfied (4). For each broker, summary scores were computed by computing a weighted average of the scores provided by each respondent. A portion the survey results follow (AAII web site, February 7, 2012).
A. Develop an estimated regression equation using trade price and speed of execution to predict overall satisfaction with the broker. Interpret the coefficient of determination.
B. Use the t test to determine the significance of each independent variable. What are your conclusions at the 0.05 level of significance?
C. Interpret the estimated regression parameters. Are the relationships indicated by these estimates what you would expect?
D. Finger Lakes Investments has developed a new electronic trading system and would like to predict overall customer satisfaction assuming they can provide satisfactory service levels (3) for both trade price and speed of execution. Use the estimated regression equation developed in part (a) to predict overall satisfaction level for Finger Lakes Investments if they can achieve these performance levels.
E. What concerns (if any) do you have with regard to the possible responses the respondents could select on the survey
In: Math
Hello there, I'm wondering can you do this problem without arrays? Using the given code on C++ Platform.
Let me know ASAP.
#include <iostream>
#include <time.h>
using namespace std;
void shoot(bool &targetAlive, double accuracy)
{
double random = (rand() % 1000) / 1000.;
targetAlive = !(random < accuracy);
}
int startDuel(int initialTurn)
{
bool personAlive[3] = {true, true, true};
double accuracy[3] = {0.333, 0.5, 1.0};
int turn = initialTurn; // which person has to shoot, initialTurn represents the first person who shoots
int aliveCount = 3; // total persons still alive
while (aliveCount > 1) { // loop until only one person is alive
if(!personAlive[turn]) { // if person is dead
turn = (turn + 1) % 3; // give turn to next person
continue;
}
int highestAccuracyPersonAlive = -1;
int highestAccuracy = -1;
for (int i = 0; i < 3; i++)
{
if (i != turn && personAlive[i] && accuracy[i] > highestAccuracy) { // person has the highest accuracy and is alive, so far
highestAccuracyPersonAlive = i;
highestAccuracy = accuracy[i];
}
}
// shoot the person with the highest accuracy and who is still alive
shoot(personAlive[highestAccuracyPersonAlive], accuracy[turn]);
if(!personAlive[highestAccuracyPersonAlive])
aliveCount--; // decrease alive count if person shot is dead
turn = (turn + 1) % 3; // give the turn to shoot to the next person
}
if(personAlive[0])
return 0;
if(personAlive[1])
return 1;
return 2;
}
int main() {
srand((unsigned) time(NULL));
int wins[3] = {0, 0, 0};
for (int i = 0; i < 1000; i++)
{
wins[startDuel(0)]++;
}
cout << "Probability of Aaron winning: " << wins[0]/1000. << endl;
cout << "Probability of Bob winning: " << wins[1]/1000. << endl;
cout << "Probability of Charlie winning: " << wins[2]/1000. << endl;
wins[0] = wins[1] = wins[2] = 0;
for (int i = 0; i < 1000; i++)
{
// Counterintuitive strategy is equivalent to giving the first turn to shoot to Bob (person with index 1)
wins[startDuel(1)]++;
}
cout << "Probability of Aaron winning with counterintuitive strategy: " << wins[0]/1000. << endl;
cout << "Probability of Bob winning counterintuitive strategy: " << wins[1]/1000. << endl;
cout << "Probability of Charlie winning counterintuitive strategy: " << wins[2]/1000. << endl;
return 0;
}
In: Computer Science
Consider the following information on Huntington Power Co. Debt:
4,000, 7% semiannual coupon bonds outstanding, $1,000 par value, 18 years to maturity, selling for 102 percent of par; the bonds make semiannual payments. Preferred Stock: 10,000 outstanding with par value of $100 and a market value of 105 and $10 annual dividend. Common Stock: 84,000 shares outstanding, selling for $56 per share, the beta is 2.08
The market risk premium is 5.5%, the risk free rate is 3.5% and Huntington’s tax rate is 32%.
Huntington Power Co. is evaluating two mutually exclusive project that is somewhat riskier than the usual project the firm undertakes; management uses the subjective approach and decided to apply an adjustment factor of +2.1% to the cost of capital for both projects.
Project A is a five-year project that requires an initial fixed asset investment of $2.4 million. The fixed asset falls into the five-year MACRS class. The project is estimated to generate $2,050,000 in annual sales, with costs of $950,000. The project requires an initial investment in net working capital of $285,000 and the fixed asset will have a market value of $225,000 at the end of five years when the project is terminated.
Project B requires an initial fixed asset investment of $1.0 million. The marketing department predicts that sales related to the project will be $920,000 per year for the next five years, after which the market will cease to exist. The machine will be depreciated down to zero over four-year using the straight-line method (depreciable life 4 years while economic life 5 years). Cost of goods sold and operating expenses related to the project are predicted to be 25 percent of sales. The project will also require an addition to net working capital of $150,000 immediately. The asset is expected to have a market value of $120,000 at the end of five years when the project is terminated.
Use the following rates for 5-year MACRS: 20%, 32%, 19.2%, 11.52%, 11.52%, and 5.76%
1) Calculate project A’s cash flows for years 0-5
2) Calculate NPV, IRR and PI for project A
3) Calculate project B’s cash flows for year 0-5
4) Calculate NPV, IRR and PI for project B
5) Which project should be accepted if any and why?
6) What is the exact NPV profile’s crossover rate (incremental IRR)?
In: Finance
Smoky Mountain Corporation makes two types of hiking boots—the Xtreme and the Pathfinder. Data concerning these two product lines appear below:
| Xtreme | Pathfinder | |||||
| Selling price per unit | $ | 120.00 | $ | 87.00 | ||
| Direct materials per unit | $ | 65.20 | $ | 51.00 | ||
| Direct labor per unit | $ | 11.20 | $ | 8.00 | ||
| Direct labor-hours per unit | 1.4 | DLHs | 1.0 | DLHs | ||
| Estimated annual production and sales | 30,000 | units | 65,000 | units | ||
The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below:
| Estimated total manufacturing overhead | $ | 2,033,000 | ||
| Estimated total direct labor-hours | 107,000 | DLHs | ||
Required:
1. Compute the product margins for the Xtreme and the Pathfinder products under the company’s traditional costing system.
2. The company is considering replacing its traditional costing system with an activity-based costing system that would assign its manufacturing overhead to the following four activity cost pools (the Other cost pool includes organization-sustaining costs and idle capacity costs):
| Estimated Overhead Cost |
Expected Activity | |||||
| Activities and Activity Measures | Xtreme | Pathfinder | Total | |||
| Supporting direct labor (direct labor-hours) | $ | 631,300 | 42,000 | 65,000 | 107,000 | |
| Batch setups (setups) | 876,000 | 410 | 320 | 730 | ||
| Product sustaining (number of products) | 460,000 | 1 | 1 | 2 | ||
| Other | 65,700 | NA | NA | NA | ||
| Total manufacturing overhead cost | $ | 2,033,000 | ||||
Compute the product margins for the Xtreme and the Pathfinder products under the activity-based costing system.
3. Prepare a quantitative comparison of the traditional and activity-based cost assignments.
Prepare a quantitative comparison of the traditional and activity-based cost assignments. (Round your intermediate calculations to 2 decimal places and "Percentage" answers to 1 decimal place.)
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In: Accounting
Using Java create an application that will read a tab-delimited file that displays the MLB standings Below:
League AL East
Tampa Bay 37 20
NY Yankees 32 24
Toronto 29 27
Baltimore 23 33
Boston 22 34
League AL Central
Minnesota 35 22
Chi White Sox 34 23
Cleveland 33 24
Kansas City 23 33
Detroit 22 32
League AL West
Oakland 34 21
Houston 28 28
LA Angels 26 31
Seattle 25 31
Texas 19 37
League NL East
Atlanta 34 22
Miami 28 28
Philadelphia 28 29
NY Mets 26 31
Washington 23 34
League NL Central
Chi Cubs 32 25
St. Louis 27 26
Cincinnati 29 28
Milwaukee 27 28
Pittsburgh 18 39
League NL West
LA Dodgers 39 17
San Diego 34 22
San Francisco 28 28
Colorado 25 31
Arizona 22 34
and display expanded standings in a nicely formatted way, like so:
*****************************************
* BASEBALL ANALYZER *
*****************************************
Enter the name of the standings file:
Which standings would you like to see?
1. AL East
2. AL Central
3. AL West
4. NL East
5. NL Central
6. NL West
7. Overall
8. Exit
Enter the number of your choice: 1
Team Wins Losses Pct. Behind
-----------------------------------------------
Tampa Bay 37 20 0.649
NY Yankees 32 24 0.571 4.5
Toronto 29 27 0.518 7.5
Baltimore 23 33 0.411 13.5
Boston 22 34 0.393 14.5
Which standings would you like to see?
1. AL East
2. AL Central
3. AL West
4. NL East
5. NL Central
6. NL West
7. Overall
8. Exit
Enter the number of your choice: 2
Team Wins Losses Pct. Behind
-----------------------------------------------
Minnesota 35 22 0.614
Chi White Sox 34 23 0.596 1.0
Cleveland 33 24 0.579 2.0
Kansas City 23 33 0.411 11.5
Detroit 22 32 0.407 11.5
In: Computer Science