AirQual Test Corporation provides on-site air quality testing services. The company has provided the following cost formulas and actual results for the month of February: Fixed Component per Month Variable Component per Job Actual Total for February Revenue $ 276 $ 38,650 Technician wages $ 8,500 $ 8,350 Mobile lab operating expenses $ 4,900 $ 33 $ 9,690 Office expenses $ 2,500 $ 2 $ 2,650 Advertising expenses $ 1,580 $ 1,650 Insurance $ 2,890 $ 2,890 Miscellaneous expenses $ 950 $ 2 $ 555 The company uses the number of jobs as its measure of activity. For example, mobile lab operating expenses should be $4,900 plus $33 per job, and the actual mobile lab operating expenses for February were $9,690. The company expected to work 150 jobs in February, but actually worked 160 jobs. Required: Prepare a flexible budget performance report showing AirQual Test Corporation’s revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

Prepare a flexible budget performance report showing AirQual Test Corporation’s revenue and spending variances and activity variances for February. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values.)

23)Use the following data about a fixed coupon corporate bond to answer the following question. The yield to maturity of the bond is greater than 8% settlement 11/14/2016 maturity 11/14/2026 rate 10% price 101 redemption 100 frequency 2 basis 0

is it :True or False

26)

1. Bank Asset Bond A				Bank Liability L
   Settlement	6/27/2019			Settlement	6/27/2019
   Maturity	6/27/2029			Maturity	6/27/2022
   Rate	10%			Rate	8%
   Yield	9%			Yield	8%
   Redemption	100			Redemption	100
   frequency	2			frequency	2
   basis	0			basis	0
   price of bond				price of bond
   The priice of the bank asset is between 105 and 107
   The price of the bank liability is 100

2. it is :true or false

WestFuel produces a special fuel system component at its three plants. The company currently has orders from four customers. After considering relevant costs, WestFuel can expect the following per-unit profit for each plant–customer alternative.

The manufacturing capacities during the current production period are: Plant 1, 5,000 units; Plant 2, 3,500 units; Plant 3, 4,000 units. The customer demands are: Customer 1, 1,500 units; Customer 2, 2,500 units; Customer 3, 4,000 units; Customer 4, 3,000 units. Develop a transportation model that WestFuel can use to determine how many units each plant should ship to each customer, with the goal of maximizing total profit. (As a hint, check the total production capacity and the total demand, and incorporate this information into the model as needed. you do not need to solve the LP

Medical researchers conducted a national random sample of the body mass index (BMI) of 654 women aged 20 to 29 in the U.S. The distribution of BMI is known to be right skewed. In this sample the mean BMI is 26.8 with a standard deviation of 7.42. Are researchers able to conclude that the mean BMI in the U.S. is less than 27?

Conduct a hypothesis test at the 5% level of significance using StatCrunch (directions) or calculating T and using the T-Distribution Calculator above.

Based on your hypothesis test, what can we conclude?

Group of answer choices

a) With a mean BMI of 26.8, the data supports the claim that the average BMI is less than 27, but the difference is not statistically significant. We fail to reject the null hypothesis that the mean BMI for women aged 20 to 29 in U.S. is 27.

b) With a mean BMI of 26.8, the data supports the claim that the average BMI is less than 27. We reject the null hypothesis that the mean BMI for women aged 20 to 29 in U.S. is 27.

c) Nothing. The distribution of the variable in the population is right skewed, so the conditions for use of a t-model are not met. We cannot trust that the p-value is accurate for this reason.

Cane Company manufactures two products called Alpha and Beta that sell for $210 and $172, respectively. Each product uses only one type of raw material that costs $8 per pound. The company has the capacity to annually produce 128,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

12. What contribution margin per pound of raw material is earned by each of the two products?

13. Assume that Cane’s customers would buy a maximum of 98,000 units of Alpha and 78,000 units of Beta. Also assume that the company’s raw material available for production is limited to 248,000 pounds. How many units of each product should Cane produce to maximize its profits?

14. Assume that Cane’s customers would buy a maximum of 98,000 units of Alpha and 78,000 units of Beta. Also assume that the company’s raw material available for production is limited to 248,000 pounds. What is the maximum contribution margin Cane Company can earn given the limited quantity of raw materials?

15. Assume that Cane’s customers would buy a maximum of 98,000 units of Alpha and 78,000 units of Beta. Also assume that the company’s raw material available for production is limited to 248,000 pounds. If Cane uses its 248,000 pounds of raw materials, up to how much should it be willing to pay per pound for additional raw materials? (Round your answer to 2 decimal places.)

Assume that Cane’s customers would buy a maximum of 94,000 units of Alpha and 74,000 units of Beta. Also assume that the company’s raw material available for production is limited to 228,000 pounds. If Cane uses its 228,000 pounds of raw materials, up to how much should it be willing to pay per pound for additional raw materials?

Cane Company manufactures two products called Alpha and Beta that sell for $190 and $155, respectively. Each product uses only one type of raw material that costs $8 per pound. The company has the capacity to annually produce 122,000 units of each product. Its average cost per unit for each product at this level of activity are given below:

The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars.

What contribution margin per pound of raw material is earned by each of the two products?

Assume that Cane’s customers would buy a maximum of 94,000 units of Alpha and 74,000 units of Beta. Also assume that the company’s raw material available for production is limited to 228,000 pounds. How many units of each product should Cane produce to maximize its profits?

Assume that Cane’s customers would buy a maximum of 94,000 units of Alpha and 74,000 units of Beta. Also assume that the company’s raw material available for production is limited to 228,000 pounds. What is the maximum contribution margin Cane Company can earn given the limited quantity of raw materials?

Develop a report that includes the following sections: (Use the required sections as headers in your report.) Section I: Overview Provide a general overview of QuickBooks. Make sure the overview provides the reader with a general understanding of the application, including costs, functionality and minimum system requirements. Section II: Transactional Processing and Data Management Describe how QuickBooks handles processing the accounting transactions and recording business activities for the revenue, expenditure and financing cycles. You should provide at least one detailed example of how one would record a specific accounting transaction/ business activity for each of the three transaction cycles below. Address the following questions in this section of the report. Revenue Cycle (Answer the following questions) How can you create and maintain customers? How can you create customer invoices? How can you apply customer payments? What reports can you run to provide you with information regarding your customers and their orders? Describe them. What reports can you run in order to provide you with information regarding key revenue cycle information - sales, accounts receivable, cash? Expenditure Cycle (Answer the following questions) How can you create and maintain vendors? How can you create and maintain inventory? How can you generate payments to vendors? What reports can you run to provide you with information regarding your vendors and your accounts payable? Describe them. What reports can you run in order to provide you with information regarding key expenditure cycle information – purchases, inventory, and cash? Financing Cycle (Answer the following questions) How can you create and maintain the chart of accounts? How can you post journal entries? What are the key financial statements that are available? Describe them. What are some key reports one can generate to measure the firm’s financial performance? Section III: Internal Controls How can QuickBooks enhance internal controls? How can you secure the system and files? What potential security weaknesses exist for QuickBooks? Section IV: Charts and Graphs How are visualizations formatted and used? What charts are available and how are charts created? What is a data diagram in QuickBooks?

National Aluminum Products Company is a state owned enterprise. Its main product is PVC pipes manufactured through extrusion process. The company is catering for the needs of the country for PVC articles, particularly in sanitary work. The company has just enhanced its capacity to 450 units per day. The average selling price of PVC pipes is computed to be OMR 25 per unit. Given below is the company’s last year revenue and cost information:

a) Compute the break-even point for last year.

b) Assume that if the company spends 23000 OMR on additional marketing, the company can sell the unit at 5% higher price. Keeping other cost pattern the same, what will be the new break-even point?

c) Assume that there are 260 working days in a year, what will be the after tax profit, if the company operates at its full capacity?

d) How many units the company must sell, if the management sets the next year target an after tax profit of OMR 480,000?

e) What will be the margin of safety, if the company is able to sell its full capacity?

Assume that on December 1, 2020, Lee Dunbar organizes a sole proprietorship company that will be known as App Solutions. App Solutions will initially perform 2 activities: Application Consulting and Programming.

The following transactions take place during the month of December:

Dec. 1   To start the business, Lee deposits $50,000 into the App Solution’s bank account.

Dec. 1   Web Solutions purchased a small office building for $220,000, paying $20,000 cash, and assuming a mortgage with a bank for the rest.

Dec. 1   Purchased supplies on account for $1,350.

Dec. 2   Received $7,500 cash for Application Consulting to be provided to customers in December.

Dec. 2   Paid a premium of $2,400 on a comprehensive insurance policy covering liability, theft, and fire. The policy covers a 1 year period, to November 30, 2020.

Dec. 2   Paid rent for the month of December, $1,800.

Dec. 3   Received an offer from a local retailer to rent the ground floor of the small office building purchased on Dec. 1^st. App Solutions received $3,600 for three months’ rent beginning December 1^st.

Dec. 4   Purchased computer equipment on account from Executive Supply Co. for $3,600.

Dec. 6   Paid $180 for a newspaper advertisement, to be run immediately.

Dec. 11 Paid creditors $400 for the Dec. 1^st supplies purchase.

Dec. 15 Paid a receptionist and part-time assistant $1,950 each for wages for first half of December.

Dec. 16 Received $3,100 from Programming fees earned for a completed Web site.

Dec. 16 Completed work for prepaid Application Consulting from Dec. 2.

Dec. 20 Paid $1,800 to Executive Supply Co. on the debt owed from the December 4^th transaction.

Dec. 21 Received $650 cash from customers for Application Consulting performed in the last few days.

Dec. 23 Purchased $1,450 of supplies by paying $550 in cash and charging the remainder on account.

Dec. 27 Paid the receptionist and the part-time assistant $1,950 each for wages for second half of December.

Dec. 31 Paid telephone for the month of December, $250.

Dec. 31 Paid $225 electricity bill for December.

Dec. 31 Received $2,870 cash from Application Consulting completed the last few days of December.

Dec. 31 Recognized Programming fees earned by not paid of $1,120 from the second half of December.

Dec. 31 Lee withdrew $3,000 from the company bank account for his own personal use.

Instructions (50 Marks in total):

1. Prepare the Documentation and Chart of Accounts worksheets .
2. Prepare journal entries in the General Journal for App Solutions for December. Do not make any adjustments for the month of December .
3. Post the journal entry amounts to T-accounts .
4. Create an Unadjusted Trial Balance for App Solutions for December 31, 2020 .

Please Note:     Do not apply any adjustments for the month of December 2020.

Use an Excel Spreadsheet file with five worksheets:

            First worksheet:            Documentation

Second worksheet:        Chart of Accounts.

Third worksheet:           General Journal.

Fourth worksheet:        T-Accounts.

Fifth worksheet:            Unadjusted Trial Balance.

McEwan Industries sells on terms of 3/10, net 30. Total sales for the year are $1,150,000; 40% of the customers pay on the 10^th day and take discounts, while the other 60% pay, on average, 90 days after their purchases. Assume 365 days in year for your calculations.

1. What is the days sales outstanding? Round your answer to two decimal places.
     days
2. What is the average amount of receivables? Round your answer to the nearest cent. Do not round intermediate calculations.
   $
3. What is the percentage cost of trade credit to customers who take the discount? Round your answers to two decimal places.
   %
4. What is the percentage cost of trade credit to customers who do not take the discount and pay in 90 days? Round your answers to two decimal places. Do not round intermediate calculations.

   Nominal cost:	%
   Effective cost:	%