##### Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage Belmain Co. expects to...

Contribution Margin, Break-Even Sales, Cost-Volume-Profit Chart, Margin of Safety, and Operating Leverage

Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all production costs for the year is therefore assumed to be equal to the cost of goods sold. With this in mind, the various department heads were asked to submit estimates of the costs for their departments during the year. A summary report of these estimates is as follows:

 Estimated Fixed Cost Estimated Variable Cost (per unit sold) Production costs: Direct materials $19 Direct labor 13 Factory overhead$82,900 10 Selling expenses: Sales salaries and commissions 17,200 4 Advertising 5,800 Travel 1,300 Miscellaneous selling expense 1,400 4 Administrative expenses: Office and officers' salaries 16,800 Supplies 2,100 2 Miscellaneous administrative expense 2,100 2 Total $129,600$54

It is expected that 6,400 units will be sold at a price of $108 a unit. Maximum sales within the relevant range are 8,000 units. Required: 1. Prepare an estimated income statement for 20Y7.  Belmain Co. Estimated Income Statement For the Year Ended December 31, 20Y7$ Cost of goods sold: $Total cost of goods sold Gross profit$ Expenses: Selling expenses: $Total selling expenses$ Administrative expenses: $Total administrative expenses Total expenses Income from operations$

2. What is the expected contribution margin ratio? Round to the nearest whole percent.
%

3. Determine the break-even sales in units and dollars.

 Units units Dollars units

4. Construct a cost-volume-profit chart on your own paper. What is the break-even sales?
$5. What is the expected margin of safety in dollars and as a percentage of sales?  Dollars:$ Percentage: (Round to the nearest whole percent.) %

6. Determine the operating leverage. Round to one decimal place.

In: Accounting

##### Assume that the City of Coyote has already produced its financial statements for December 31, 2017,...

Assume that the City of Coyote has already produced its financial statements for December 31, 2017, and the year then ended. The city's general fund was only for education and parks. Its capital projects funds worked with each of these functions at times during the current year. The city also had established an enterprise fund to account for its art museum.

The government-wide financial statements indicated the following figures:

Education reported net expenses of $748,000. Parks reported net expenses of$151,000.

Art museum reported net revenues of $54,000. General government revenues for the year were$1,053,000 with an overall increase in the city's net position of $208,000. The fund financial statements indicated the following for the entire year: The general fund reported a$35,250 increase in its fund balance.

The capital projects fund reported a $54,500 increase in its fund balance. The enterprise fund reported a$62,000 increase in its net position.

The CPA firm of Abernethy and Chapman has been asked to review several transactions that occurred during 2017 and indicate how to correct any erroneous reporting and the impact of each error. View each of the following situations as independent.

The City of Coyote mailed property tax bills for 2018 to its citizens during August 2017. Payments could be made early to receive a discount. The levy becomes legally enforceable on February 15, 2018. All money received must be spent during 2018 or later. The total assessment is $328,000, and 30 percent of that amount is collected in 2017 less a 10 percent discount. The city expects to receive all remaining money during 2018 with no discount. During 2017, the government increased cash and a revenue for the amount received. In addition, a receivable account and an unavailable revenue account for$229,600 were recognized.

In the general information above, an overall increase in the city's net position of $208,000 was found on the government-wide financial statements. What was the correct overall change in the city's net position as reported on the government-wide financial statements? In the general information above, an overall increase of$35,250 was reported in the general fund balance. What was the correct change during 2017 in the general fund's balance?

In: Accounting

1. Customer service delivery time: The Alhambra Restaurant in Ottawa, specializing in ethnic fast food, opened for business just one year ago. It has been a hectic first year for the owner as it often is for small business entrepreneurs in their first 12 months of business. Although the year has been somewhat successful (with the owner averaging $1000 net profit per month after all deductions and expenses), the owner is unhappy with the length of time it has been taking staff to provide customer service (service time at the restaurant is measured from the time the customer enters the restaurant to the moment the customer leaves the counter with their completed food order). The design of all aspects of the restaurant from kitchen layout to placement of service counters was supposed to minimize the time required to serve customers. The restaurant design team was convinced that the restaurant design would permit the owner to achieve an average customer service delivery time of approximately 7 minutes. Given the owner’s concern that the design might not be meeting this objective, the design team commissioned a consultant to conduct a small study examining customer service delivery time. A sample of 20 restaurant customers was selected and the customer service delivery time was recorded to the nearest minute (see table below).  5 6 7 10 6 4 7 6 8 5 11 8 7 9 7 8 8 7 9 3 (a) Does the empirical evidence suggest that it takes significantly longer on average to service customers than the 7 minutes anticipated by the design team? Construct a 90% confidence interval estimate of the average customer service delivery time at the Alhambra? Interpret the meaning of this interval in plain, non-technical language (no jargon). Ensure that your non-technical interpretation of these results clearly, concisely, yet comprehensively addresses the owner’s concerns. (b) Write a brief business report communicating what your consulting team has attempted to do to the head of the Alhambra design team. Remember that the head of the design team does not understand statistical jargon. (One of her staff members does understand statistics and will be looking to ensure that you have conducted a good study, that you have performed a valid analysis of your data, and that your interpretation is appropriate for your study results.) Ensure that your report is thorough, comprehensive, clear, yet concise. Evaluation criteria: quality of writing, clarity, usefulness, comprehensiveness, accuracy, completeness, etc. Attach your typed business report to your assignment In: Statistics and Probability ##### The following table represents short run cost-revenue information (in dollars) for a firm in a competitive... The following table represents short run cost-revenue information (in dollars) for a firm in a competitive market.  Q P TR MR MC TC Total Profit 0 0 N/A N/A 1000 1 200 1200 2 400 1340 3 600 60 4 800 1420 5 1000 1440 6 1200 60 7 1400 80 1580 8 1600 140 9 1800 10 2000 (a) Fill in all the blanks above using the following information: The Market Price is$200 per unit of output, the VC of producing 9 units of output is $920, and the ATC of producing 10 units of output is$220

(b) Where does diminishing returns start? Explain your answer.

(c) What is the Fixed Costs for this firm? Explain your answer.

(d) In the Short Run, if this firm would go into production, determine the profit maximizing (or loss minimizing) level of output and profit amount.

(e) In the Short Run, if this firm would instead shutdown without going into production, determine its production amount and profit amount.

(f) Please determine the best course of action for this firm in the Short Run. Please explain your reasoning.

(g) Based on the data above, in the Long Run, explain what this firm should do and why the firm should pick this course of action.

In: Economics

##### Consider a simple poll that is measuring the proportion of citizens that hold a particular political...

Consider a simple poll that is measuring the proportion of citizens that hold a particular political belief. What is a conservative, "worst case scenario" sample size if you want the margin of error to be 5.7%?

In: Statistics and Probability

##### Mike and Ike’s are a popular oblong fruit-flavored chewy candies that come in several flavors, cherry,...

Mike and Ike’s are a popular oblong fruit-flavored chewy candies that come in several flavors, cherry, orange, lime, lemon, and strawberry. Recently, Mike and Ike have been receiving customer complaints that the candy packages have many more orange and lime-flavored candies, which are their least favorite. The company believes these claims are false and seeks to show customers that the average number of candies per package are equal amongst the different flavors. The data collected by the company is found in the excel file MikeIke .Run the appropriate tests and place the screen shot of your MiniTab or excel output below.

Run all tests at the 5% significance level

When running a chi square test for association, you MUST check off “each cell’s contribution to Chi-Square” in MiniTab (this is found by selecting “statistics” when in the test dialog box). If using Excel you must complete these by hand within excel. When running a one-way or two-way ANOVA test, also perform a Fisher’s LSD comparison test for any significant factors, at the 5% significance level.

Cherry Orange Lime Lemon Strawberry

14 8 38 37 8

12 6 14 22 12

14 17 11 29 20

0 12 34 36 18

16 12 16 13 17

8 18 14 34 7

4 17 35 9 15

3 8 19 3 6

15 18 35 25 16

1 18 18 30 12

22 12 37 34 19

16 20 23 25 16

14 11 25 0 10

16 16 11 1 17

13 9 32 0 11

5 19 20 34 8

4 19 15 34 11

14 8 31 19 10

In: Economics

##### 1. When a not-for-profit entity's funds are classified as restricted, who has imposed the restrictions?                ...

1. When a not-for-profit entity's funds are classified as restricted, who has imposed the restrictions?

a.     the entity's board of trustees

b.    donors

c.     the bondholders

d.    government regulators

2. In which of the following circumstances would a not-for-profit organization's net assets be classified as temporarily restricted?

a.     donors impose stipulations on the use of resources that expire with the passage of time or that can be fulfilled by actions of the organization

b.    donors stipulate that resources must be held intact in perpetuity, but that the income from the gift may be used for any purpose desired by the organization's trustees

c.     the entity's board of directors requires that unrestricted resources be set aside for a specific purpose

3. In which classification of net assets are expenses reported?

a.     only in unrestricted net assets

b.    only in temporarily restricted net assets

c.     either in unrestricted or temporarily restricted net assets

d.    either in unrestricted, temporarily restricted, or permanently restricted net assets

4. FASB requires not-for-profits to report net assets and resource inflows and outflows in which categories?

a.     The board may decide which categories are used for classification

b.    Unrestricted, temporarily restricted, or permanently restricted depending on the existence and nature of donor restrictions

c.     Unrestricted, temporarily restricted, or permanently restricted depending on the existence and nature of creditor restrictions

d.    Unrestricted, temporarily restricted, or permanently restricted depending on the existence and nature of supplier restrictions

5. A not-for-profit organization receives $3,400,000 of pledges in its annual telethon. When should the organization recognize contribution revenue? a. when cash is received b. when the pledges are received, provided they are in written form c. when the pledges are received, less an appropriate allowance for uncollectible pledges In: Accounting ##### What are futures contracts? Give an example of how a futures contract can be used as... What are futures contracts? Give an example of how a futures contract can be used as protection against commodity price changes. Why did the price of the May WTI futures contract fall to about -$40. Is there a surplus of oil? What does this have to do with the state of the economy? Explain.

Note: Each WTI contract is for 1000 barrels of oil, and each barrel contains 42 gallons.

Please write at least 10 sentences.

In: Finance

##### 1) (note: Please also provide the excel formulas used to solve it )  You work for a...

1) (note: Please also provide the excel formulas used to solve it )  You work for a soft-drink company in the quality control division. You are interested in the standard deviation of one of your production lines as a measure of consistency. The product is intended to have a mean of 12 ounces, and your team would like the standard deviation to be as low as possible. You gather a random sample of 18 containers. Estimate the population standard deviation at a 90% level of confidence.

 12.09 12.1 11.94 12.14 12.12 11.98 11.97 11.98 11.93 11.96 11.86 11.94 12.03 12.08 11.97 12.05 12.07 12.08

(Data checksum: 216.29)

Note: Keep as many decimals as possible while making these calculations. If possible, keep all answers exact by storing answers as variables on your calculator or computer.

a) Find the sample standard deviation:

b) Find the lower and upper χ2 critical values at 90% confidence:
Lower:    Upper:

c) Report your confidence interval for σ (  ,  )

2) (note: Please also provide the excel formulas used to solve it )

If n=300 and p^=0.3, construct a 90% confidence interval about the population proportion. Round your answers to three decimal places.

Preliminary:

1. Is it safe to assume that n≤0.05n≤0.05 of all subjects in the population?
• No
• Yes

2. Verify nˆp(1−ˆp)≥10. Round your answer to one decimal place.

nˆp(1−ˆp)=

Confidence Interval: What is the 90% confidence interval to estimate the population proportion? Round your answer to three decimal places.

< p <

In: Statistics and Probability

##### Consider the ecosytem energy required for various foods in the human diet. Describe ways to conserve...

Consider the ecosytem energy required for various foods in the human diet. Describe ways to conserve ecosystem energy by incorporating principles of energy flow between trophic levels.

In: Biology

##### What is your personal beliefs about the nature of human behavior, the basic tenets of human...

What is your personal beliefs about the nature of human behavior, the basic tenets of human needs, and the principles and approaches of counseling that you believe to most effectively address such behavior and needs? Include your beliefs about the therapeutic relationship, personal strengths, and characteristics that you bring to such a relationship and ethical guidelines that you consider important to adhere to within such a relationship.

In: Psychology

##### Explain about the following (i) Ordinary shares (ii) Preference shares (iii) Cost of capital (iv) Weighted...

Explain about the following

(i) Ordinary shares

(ii) Preference shares

(iii) Cost of capital

(iv) Weighted average cost of capital (WACC)

In: Accounting

##### 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