Pitkins Company collects 20% of a month's sales in the month of sale, 70% in the month following the sale, and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are: January February March April Budgeted Sales $200,000 $300,000 $350,000 $250,000
II. You are asked to make a depreciation schedule for a business asset. A depreciation schedule shows the remaining value of the asset at the end of each time period. Create a depreciation schedule for each of the following 1. A copy machine that costs $1,800, shipping $50 and installed for $125 depreciated using the stra
1. The issuance price of a bond does not depend on the a. face value of the bond. b. riskiness of the bond. c. method used to amortize the bond discount or premium. d. effective interest rate. 2. Which of the following is true of a premium on bonds payable? a. It is a contra-stockholders' equity account. b. It
Consider the following contingency table: Under 20 21-30 31-40 Male 12 12 17 Female 13 16 21 a. If one person is selected at random, what is the probability that person is Female? ______ b. If one person is selected at random, what is the probability that person is ei
Swanson Inc. purchased $400,000 of Malone Corp. ten-year bonds with a stated interest rate of 8 percent payable quarterly. At the time the bonds were purchased, the market interest rate was 12 percent. Determine the amount of premium or discount on the purchase of the bonds.
Swanson Inc. purchased $400,000 of Malone Corp. ten-year bonds with a stated interest rate of 8 percent payable quarterly. At the time the bonds were purchased, the market interest rate was 12 percent. Determine the amount of premium or discount on the purchase of the bonds. a. $92,442 premium b. $92,442 discount c. $81,1
1. Passenger comfort is influenced by the amount of pressurization in the airline cabin. Higher pressurization permits a closer-to-normal environment and a more relaxed flight. A study by an airline user group recorded the corresponding air pressure on 30 randomly chosen flights. The study revealed a mean equivalent pressure of
The Nunnally Company has equal amounts of low-risk, and high-risk projects. Nunnally estimates that is overall WACC is 12%.
The Nunnally Company has equal amounts of low-risk, and high-risk projects. Nunnally estimates that is overall WACC is 12%. The CFO believes that this is the correct WACC for the company's average-risk projects, but that a lower rate should be used for lower risk projects and higher rate for higher risk projects. However, the
Tapley Inc. recently hired you as a consultant to estimate the company's WACC. You have obtained the following information. (1) Tapley's bonds mature in 25 years, have a 7.5% annual coupon, a par value of $1,000, and a market price of $936.49. (2) The company's tax rate is 40%. (3) The risk-free rate is 6.0%, the market risk
Please see attached document. Solex Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the split-off point total $100,000 per year. The company allocates these costs to the joint products on the basis of their total sales value of the split-off point. These sa
Hobson Company bought the securities listed below during 2005. These securities were classified as trading securities. On its December 31, 2005, income statement Hobson reported a net unrealized loss of $13,000 on these securities.
Hobson Company bought the securities listed below during 2005. These securities were classified as trading securities. On its December 31, 2005, income statement Hobson reported a net unrealized loss of $13,000 on these securities. Pertinent data at the end of December 2006 are as follows: Security Cost Fair Va
Boulter, Inc. began business on January 1, 2006. At the end of December 2006, Boulter had the following investments in equity securities: Trading Available for Sale Cost 60,000 110,000 Market Value 54,000 107,500 All declines
Please see attached file. Mosbach Corporation has a standard cost system in which it applies overhead to products based on the standard direct labor-hours allowed for the actual output of the period. Data concerning the most recent year appear below: Variable overhead cost per direct labor-hour $3.50 Total fixed overhead
Please see attached document. Performance Products Corporation makes two products, titanium Rims and Posts. Data regarding the two products follow: Direct Labor-Hours Annual Per Unit Production Rims...... 0.40 20,000 units Posts...... 0.20 80,000 units Additional information about the company follows: a) R
Please see attached document for problem. The operations vice president of First Bank of Eagle, Kristin Wu, has been interested in investigating the efficiency of the bank's operations. She has been especially concerned about the costs of handling routine transactions at the bank and would like to compare these costs at the
The direct labor budget of Krispin Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours. 1st QTR 2nd QTR 3rd QTR 4th QTR Budgeted direct labor-hours: 5,000 4,800 5,200 5.400 The company's variable manufa
The Production Department of the Riverside Plant of Junnen Corporation has submitted the following forecast of units to be produced at the plant for each quarter of the upcoming fiscal year. The plant produces high-end outdoor barbecue grills. 1st QTR 2nd QTR 3rd QTR 4th QTR Units to be produced
Micro Products, Inc., has developed a very powerful electronic calculator. Each calculator requires three small "chips" that cost $2 each and are purchased from an overseas supplier. Micro Products has prepared a production budget for the calculator by quarters for Year 2 and for the first quarter of Year 3. as shown below:
The staff for each unit, the additional firefighters to cover daily absents, the probability of overtime work and with 3 a unit organization, how many firefighters for each unit and the total number of full time firefighters for the department. This is a case problem from my Applied Decision Methods course taken from Chapter 10
The Phoenix Corporation has the following financial statistics: · expected EBIT next year without new financing $10 million · expected interest payment next year $ 1.0 million · company tax rate
An auditor who uses statistical sampling for attributes in testing internal controls should reduce the planned reliance on a prescribed control when the:
1. An auditor who uses statistical sampling for attributes in testing internal controls should reduce the planned reliance on a prescribed control when the: a. Tolerable rate plus the allowance for sampling risk equals the sample rate of deviation b - Sample rate of deviation plus the allowance for sampling risk equals t
You wish to purchase a 20-year, $1,000 face balue bond that makes semiannual interest payments of $40. If you require a 10% nominal yield to maturity, what price should you be willing to pay for the bond?
Which of the following bonds have the greatest percentage increase in value if all interest rates decrease by 1%? 20-year, zero coupon bond, 10-year, zero coupon bond, 20-year, 10% coupon bond, 20-year, 5% coupon bond, or 1-year, 10% coupon bond.
Please see the attached file for the fully formatted problems. Problem #1- This is a production type EOQ problem, where the units produced each day go directly to inventory. Most production problems are treated as gradual delivery problems. Note that the carrying cost is 30% of the cost of making an individual DVD (.30 x 2.
A company has two major businesses that it operates. One business manufactures and sells unicycles for commercial use in circuses, etc. (total sales of $150M), and the other sells bicycles to the public (total sales of $20M). The unicycle business occupies 75,000 square feet of the manufacturing warehouse and the bicycle busines
1.) Generally, under what circumstances is statistical sampling useful? Describe a situation, preferably related to your work, where statistical sampling might be useful and in general terms how you would do it. 2.) Discuss what you consider to be the relevant aspects of describing data. Explain and tell why.
Filer Manufacturing has 9.5 million shares of common stock outstanding. The current share price is $53 and the book value per share is $5. Filer manufactureing also has tow bond issues outstanding. The first bond issue has a face value of $75 million and has 8 percent coupon and sells for 93 percent of par. The second issue
Problem in the attached. The New York City Development Corporation has just purchased a small hotel for conversion to condominium apartments. The building, in a popular area of New York, will be highly marketable, and each condominium sale is expected to yield a good profit. The conversion process, however, includes se
Part 1 a. Select the first three letters of your last name. Each letter has a numerical place value in the alphabet; for example D is 4, L is 12 and Z is 26. Add the three place values together; for example Wallace would yield WAL which is 23+1+12 = 36. Show your work. My last name is LOWE b. Multip
I need help with these practice problems. (see attached)
Please review 10.5 A 20-minute consumer survey mailed to 500 adults aged 25-34 included a $5 Starbucks gift certificate. The same survey was mailed to 500 adults aged 25-34 without the gift certificate. There were 65 responses from the first group and 45 from the second group. (a) Perform a two-tailed test comparing the respo