Questions
The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The...

The administrative offices and manufacturing plant of Billings Tool & Die share the same building. The following information (in $000s) appears in the accounting records for last year:
  

Administrative costs $ 1,647
Building and machine depreciation (75% of this amount is for factory) 900
Building utilities (90% of this amount is for factory) 1,350
Direct labor 855
Direct materials inventory, December 31 14
Direct materials inventory, January 1 13
Direct materials purchases 3,640
Factory supervision 478
Finished goods inventory, December 31 66
Finished goods inventory, January 1 54
Indirect factory labor 916
Indirect materials and supplies 680
Marketing costs 862
Property taxes on building (85% of this amount is for factory) 1,000
Sales revenue 12,931
Work-in-process inventory, December 31 26
Work-in-process inventory, January 1 31

Prepare an income statement with a supporting cost of goods sold statement. (Enter your answers in thousands of dollars (i.e., 234,000 should be entered as 234).)

In: Accounting

During cellular respiration, what happens to the 6 carbons in glucose? a- All 6 carbons are...

During cellular respiration, what happens to the 6 carbons in glucose?

a-

All 6 carbons are reduced to CO2.

b-

All 6 carbons are used in the synthesis of ATP.

c-

3 carbons are oxidized to CO2 and 3 carbons are reduced to CO2.

d-

All 6 carbons are completely oxidized to CO2.

In: Biology

What personal qualtities accounted for Hitler's rise to power? In what context would these be important?...

What personal qualtities accounted for Hitler's rise to power? In what context would these be important? How critical were Hiltler's communication skills? How did he hone them?

In: Psychology

You are negotiating a contract with a new customer to deliver one of the components for...

You are negotiating a contract with a new customer to deliver one of the components for their product. You estimate that on average you should be able to deliver the product in 8 hours once the customer places the order. Based on historical data, you believe it is reasonable to assume the standard deviation is 1 hour and that actual delivery times are normally distributed. The customer offers you a bonus for deliveries when you are able to deliver the component in less than 6.5 hours. The customer also wants you to pay a penalty on deliveries that do not arrive within 9 hours. You expect an average of 3 deliveries per day for this customer. Assume 300 business days a year. You have estimated that average profit per on-time (within 6.5 – 9 hour) delivery will be $5. However, if you get a bonus (delivery < 6.5 hours), your profit becomes $6 per delivery. On the other hand, if you have to pay penalty (delivery > 9 hours), your profit goes down to $3 per delivery (22 points total for a-d) a) On what % of deliveries do you expect to receive a bonus? b) On what % of deliveries do you expect to pay a penalty? c) In a year how many deliveries will be on time 6.5-9 hours)? d) What is your estimate for the total yearly profit from this customer? Assume 3 deliveries per day and 300 business days in a year Based on the calculations above, you consider the 9-hour time limit is too high a risk. Your customer is also adamant that you must deliver within 9 hours, otherwise pay a penalty. To keep the customer happy, you are thinking of making some changes in your delivery process to reduce the chance of late deliveries (> 9 hours). From your statistics class, you know that you can achieve this by reducing the -1) average delivery time; or, 2) the standard deviation of delivery time; or 3) both average and standard deviation of delivery time. e) If you are unable to change the standard deviation of the delivery time, what should be the average delivery time so that no more than 5% of the deliveries are late (late = takes more than 9 hours. Current average delivery time = 8 hours, standard deviation of delivery time = 1 hour) f) On the other hand, if you are unable to change the average delivery time, what should be the standard deviation of the delivery process so that no more than 5% of the deliveries are late (late = takes more than 9 hours, Current average delivery time = 8 hours, standard deviation of delivery time = 1 hour)

In: Statistics and Probability

Question: Company X uses fermentation to produce a valuable industrial chemical. A startup company approaches X...

Question: Company X uses fermentation to produce a valuable industrial chemical. A startup company approaches X with a novel microbe that will increase the yield of the chemical, so that profits will increase by an estimated $14.0k/mo. The startup company wishes to sell the rights to use the microbe for a seven-year period, at a price of $480k.

Engineers at company X estimate the increased production will entail additional maintenance, costing $12.0k in year 2, $14.0k in year 4, and $17.0k in year 6 of the project.

1. What would a cash flow diagram of the project, from the standpoint of Company X?

2. How can I calculate the present value of the project, assuming a 13.0% annual interest rate?

3. Using Excel, make a well-formatted graph of the project present value vs. interest rate, for interest rates ranging from 0 to 30% APR.

In: Finance

Use the quality/quantity maximization model to explain why studies have shown the following: A) Not-for-profit psychiatric...

Use the quality/quantity maximization model to explain why studies have shown the following: A) Not-for-profit psychiatric hospitals are no more efficient than their for-profit counterparts after controlling for for quality. B) Not-for-profit hospitals provide a higher quality of care as measured by the number of violations and complaints received.

In: Economics

Required information The comparative balance sheets for 2018 and 2017 and the statement of income for...

Required information

The comparative balance sheets for 2018 and 2017 and the statement of income for 2018 are given below for Dux Company. Additional information from Dux’s accounting records is provided also.

DUX COMPANY
Comparative Balance Sheets
December 31, 2018 and 2017
($ in 000s)
2018 2017
Assets
Cash $ 66 $ 38
Accounts receivable 49 76
Less: Allowance for uncollectible accounts (4 ) (3 )
Dividends receivable 4 3
Inventory 85 80
Long-term investment 51 44
Land 85 70
Buildings and equipment 168 210
Less: Accumulated depreciation (44 ) (80 )
$ 460 $ 438
Liabilities
Accounts payable $ 40 $ 59
Salaries payable 3 6
Interest payable 9 3
Income tax payable 9 10
Notes payable 15 0
Bonds payable 80 55
Less: Discount on bonds (2 ) (3 )
Shareholders' Equity
Common stock 210 200
Paid-in capital—excess of par 24 20
Retained earnings 83 88
Less: Treasury stock (at cost) (12 ) 0
$ 460 $ 438
DUX COMPANY
Income Statement
For the Year Ended December 31, 2018
($ in 000s)
Revenues
Sales revenue $ 340
Dividend revenue 4 $ 344
Expenses
Cost of goods sold $ 230
Salaries expense 32
Depreciation expense 6
Bad debt expense 1
Interest expense 9
Loss on sale of building 2
Income tax expense $ 42 322
Net income $ 22


Additional information from the accounting records:

A building that originally cost $56,000, and which was three-fourths depreciated, was sold for $12,000.

The common stock of Byrd Corporation was purchased for $7,000 as a long-term investment.

Property was acquired by issuing a 15%, seven-year, $15,000 note payable to the seller.

New equipment was purchased for $14,000 cash.

On January 1, 2018, bonds were sold at their $25,000 face value.

On January 19, Dux issued a 5% stock dividend (1,000 shares). The market price of the $10 par value common stock was $14 per share at that time.

Cash dividends of $12,000 were paid to shareholders.

On November 12, 1,000 shares of common stock were repurchased as treasury stock at a cost of $12,000.

Required:
Prepare the T-accounts for Dux Company. (Do not round your intermediate calculations. Enter your answers in thousands. Amounts to be deducted should be indicated with a minus sign.)

In: Accounting

A population of values has a normal distribution with μ=153.5μ=153.5 and σ=17.7σ=17.7. You intend to draw...

A population of values has a normal distribution with μ=153.5μ=153.5 and σ=17.7σ=17.7. You intend to draw a random sample of size n=31n=31.

Find the probability that a single randomly selected value is less than 153.8.
P(X < 153.8) =

Find the probability that a sample of size n=31n=31 is randomly selected with a mean less than 153.8.
P(M < 153.8) =

Enter your answers as numbers accurate to 4 decimal places. Answers obtained using exact z-scores or z-scores rounded to 3 decimal places are accepted.

In: Statistics and Probability

The number 52430 is a 5-digit number whereas 03201 is not a 5-digit number. Determine the...

The number 52430 is a 5-digit number whereas 03201 is not a 5-digit number. Determine the
number of 5-digit multiples of 5 that can be created using the digits 0 to 9, if digits may not be
repeated

In: Statistics and Probability

Question 3 In a study conducted on 335 primary school students in a small district in...

Question 3

In a study conducted on 335 primary school students in a small district in Malaysia, students at primary levels 4-6 were asked which goal in terms of good grades, athletic ability or popularity (being popular in school) was most important to them. A two-way table (Table 3.1) separating the students by their educational levels and goals is shown below:

Table 3.1

                                                     Primary Level

Goals

Grades

Popular

Sports

Total

4

5

6

Total

49

50

69

168

24

36

38

98

19

22

28

69

92

108

135

335

  1. To investigate possible differences among the students' goals by educational levels, a researcher suggested that it is useful to compute the column percentages. You are required to compute the column percentages and explain the meaning of these percentages. Do the results suggest that there is much of a variation in goals across the three educational levels?   
  2. The dataset from the same study now divides the students' responses into "Urban," "Suburban," and "Rural" school areas as shown in Table 3.2. You are required to conduct a Chi-Squared test to investigate whether there is an association between school area and the students' goals of getting good grades, athletic ability or popularity as most important to them?

Table 3.2

                                                                 School Area

Goals

Grades

Popular

Sports

Total

Rural

Suburban

Urban

Total

57

87

24

168

50

42

6

98

42

22

5

69

149

151

35

335

In: Statistics and Probability

Windmill Ltd commenced a takeover of its principal competitor WindPower Ltd in June 2019. The takeover...

Windmill Ltd commenced a takeover of its principal competitor WindPower Ltd in June 2019. The takeover was hostile and WindPower Ltd fought it vigorously.

WindPower Ltd was under financial stress due to misappropriation of funds by a former employee. This provided Windmill Ltd with the opportunity to mount the takeover.

Legal costs were significant due to the hostility against the takeover.

Just prior to the finalisation of the documentation, the senior management staff of Windpower Ltd won Lotto and were in a position to take over the company and pay off all outstanding debts.

Windmill Ltd spent a total of $1.5 m on the unsuccessful takeover in both 2019 and 2020.

Mr Abbott, the Managing Director of Windmills Ltd, has asked for your advice of how this large expense is to be treated for tax purposes.

This section must be referenced in accordance with the Australian Guide to Legal Citation (AGLC).

Part B (300 – 500 words)

Prepare a letter of advice to Mr Abbott explaining how this expense can be treated for tax purposes.

In: Finance

Three professors at the University of Macau compared two different approaches to teaching courses in the...

Three professors at the University of Macau compared two different approaches to teaching courses in the faculty of business administration. At the time of the study, there were 2,100 students in the faculty, and 96 students were involved in the study. Demographic data collected on these 96 students included year of study (first, second, third, fourth), age, gender, and major. The demographic variable of year of study is an example of a. none of the other choices. b. a discrete numerical variable. c. a continuous numerical variable. d. a categorical variable.

In: Statistics and Probability

detail explain of SWOP analysis base on United States Postal Services(USPS) on Strengths, Weaknesses, Opportunities and...

detail explain of SWOP analysis base on United States Postal Services(USPS) on Strengths, Weaknesses, Opportunities and Threats.

In: Operations Management

Why use of debt can minimize the agency cost (500words) Explain why company issue equity (300...

Why use of debt can minimize the agency cost (500words)

Explain why company issue equity (300 words)

Thank You

In: Finance

Estimated Income Statements, using Absorption and Variable Costing Prior to the first month of operations ending...

Estimated Income Statements, using Absorption and Variable Costing

Prior to the first month of operations ending October 31 Marshall Inc. estimated the following operating results:

Sales (26,400 x $93) $2,455,200
Manufacturing costs (26,400 units):
Direct materials 1,483,680
Direct labor 351,120
Variable factory overhead 163,680
Fixed factory overhead 195,360
Fixed selling and administrative expenses 53,100
Variable selling and administrative expenses 64,300

The company is evaluating a proposal to manufacture 29,600 units instead of 26,400 units, thus creating an Inventory, October 31 of 3,200 units. Manufacturing the additional units will not change sales, unit variable factory overhead costs, total fixed factory overhead cost, or total selling and administrative expenses.

a. 1. Prepare an estimated income statement, comparing operating results if 26,400 and 29,600 units are manufactured in the absorption costing format. If an amount box does not require an entry leave it blank or enter “0”.

Marshall Inc.
Absorption Costing Income Statement
For the Month Ending October 31
26,400 Units Manufactured 29,600 Units Manufactured
$ $
Cost of goods sold:
$ $
$ $
$ $
Income from operations $ $

a. 2. Prepare an estimated income statement, comparing operating results if 26,400 and 29,600 units are manufactured in the variable costing format. If an amount box does not require an entry leave it blank or enter “0”.

Marshall Inc.
Variable Costing Income Statement
For the Month Ending October 31
26,400 Units Manufactured 29,600 Units Manufactured
$ $
Variable cost of goods sold:
$ $
$ $
$ $
$ $
Fixed costs:
$ $
Total fixed costs $ $
$ $

b. What is the reason for the difference in income from operations reported for the two levels of production by the absorption costing income statement?

The increase in income from operations under absorption costing is caused by the allocation of   overhead cost over a   number of units. Thus, the cost of goods sold is  . The difference can also be explained by the amount of   overhead cost included in the   inventory.

In: Accounting