The regression equation relating dexterity scores (x) and productivity scores (y) for the employees of a company is y=5.50 + 1.91x. Ten pairs of data were used to obtain the equation. The same data yield r= 0.986 and y= 56.3 (there is a line above the y) What is the best predicted productivity score of 32
A+ Work
Define a Java Class product which has attributes: String name, type integer number_on_hand, and double price Write all the getters and setters for each of these values. Write a default constructor which has no values and a constructor which takes all values as parameters and initialized the attribute to the values passed
Define a class PerishableProduct which extends product and has additional attributes integer day month and year, which represent a use by date. Write the necessary getters and setters and write a pair of constructors like in 1.
Write a piece of java code that prompts the user the name, type, price, quantity and use by date of a perishable product and creates an object with those values.
Write a piece of java code that prompts the users for a text file name creates a scanner for the file and then reads Perishable product from the file into an array called inventory.
Write a piece of java code that prompts the user for the name of a perishable product and searches the array inventory to find the product and prints out the price.
Write a piece of java code that prompts the user for a file name and opens a text file for output and writes the array inventory to the file and closes the file.
we can learn much about the lives and cultural values of a people through their music
Q We can learn much about the lives and cultural values of a people through their music. What types of music today tell stories about difficult times and colorful characters, like thecorridos did? Why does music make such a wonderful vehicle for telling the stories of a people? Please relate to immigration history not just current events
On the first day of your summer internship
Mini Case On the first day of your...
Mini Case
On the first day of your summer internship, you’ve been assigned to work with the Chief Financial Officer (CFO) of SanBlas Jewels Inc. Not knowing how well trained you are, the CFO has decided to test your understanding of interest rates. Specifically, she asked you to provide areasonable estimate of the nominal interest rate for a new issue of Aaa-rated bonds to be offered by SanBlas Jewels Inc. The final format that the chief financial officer of SanBlas Jewels has requested is that of equation (2-1) in the text. Your assignment also requires that you consult the data in Table 2-2. Some agreed-upon procedures related to generating estimates for key variables in equation (2-1) follow.
a. The current 3-month Treasury bill rate is 2.96 percent, the 30-year Treasury bond rate is 5.43 percent, the 30-year Aaa-rated corporate bond rate is 6.71 percent, and the inflation rate is 2.33 percent.
b. The real risk-free rate of interest is the difference between the calculated average yield on
3-month Treasury bills and the inflation rate.
c. The default-risk premium is estimated by the difference between the average yield on Aaarated bonds and 30-year Treasury bonds.
d. The maturity premium is estimated by the difference between the average yield on 30-year
Treasury bonds and 3-month Treasury bills.
e. SanBlas Jewels’ bonds will be traded on the New York Bond Exchange, so the liquidity premium will be slight. It will be greater than zero, however, because the secondary market for
the firm’s bonds is more uncertain than that of some other jewel sellers. It is estimated at 4
basis points. A basis point is one one-hundredth of 1 percent.
Now place your output into the format of equation (2-1) so that the nominal interest rate can be estimated and the size of each variable can also be inspected for reasonableness and discussion with the CFO.
Mini Case
On the first day of your summer internship, you’ve been assigned to work with the Chief Financial Officer (CFO) of SanBlas Jewels Inc. Not knowing how well trained you are, the CFO has decided to test your understanding of interest rates. Specifically, she asked you to provide areasonable estimate of the nominal interest rate for a new issue of Aaa-rated bonds to be offered by SanBlas Jewels Inc. The final format that the chief financial officer of SanBlas Jewels has requested is that of equation (2-1) in the text. Your assignment also requires that you consult the data in Table 2-2. Some agreed-upon procedures related to generating estimates for key variables in equation (2-1) follow.
a. The current 3-month Treasury bill rate is 2.96 percent, the 30-year Treasury bond rate is 5.43 percent, the 30-year Aaa-rated corporate bond rate is 6.71 percent, and the inflation rate is 2.33 percent.
b. The real risk-free rate of interest is the difference between the calculated average yield on
3-month Treasury bills and the inflation rate.
c. The default-risk premium is estimated by the difference between the average yield on Aaarated bonds and 30-year Treasury bonds.
d. The maturity premium is estimated by the difference between the average yield on 30-year
Treasury bonds and 3-month Treasury bills.
e. SanBlas Jewels’ bonds will be traded on the New York Bond Exchange, so the liquidity premium will be slight. It will be greater than zero, however, because the secondary market for
the firm’s bonds is more uncertain than that of some other jewel sellers. It is estimated at 4
basis points. A basis point is one one-hundredth of 1 percent.
Now place your output into the format of equation (2-1) so that the nominal interest rate can be estimated and the size of each variable can also be inspected for reasonableness and discussion with the CFO.
Calculations Shown
1. A recent article in the Myrtle Beach Sun Times reported that the mean labor cost to repair a color television is $90 with a standard deviation of $22. Monte’s TV Sales and Service completed repairs on two sets this morning. The labor cost for the first was $75 and it was $100 for the second. Compute z values for each and comment on your findings.
2. The mean of a normal distribution is 400 pounds. The standard deviation is 10 pounds.
a. What is the area between 415 pounds and the mean?
b. What is the area between the mean and 395 pounds?
c. What is the probability of selecting a value at random and discovering that it has a value of less than 395 pounds?
3. The monthly sales of mufflers in the Richmond, VA area follow the normal distribution with a mean of 1200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is only a 5% chance of running out of stock. Where should the manufacturer set the inventory levels?
4. Research on new juvenile delinquents revealed that 38% of them committed another crime.
a. What is the probability that of the last 100 new juvenile delinquents put on probation, 30 or more will commit another crime?
b. What is the probability that 40 or fewer of the delinquents will commit another crime?
c. What is the probability that between 30 and 40 of the delinquents will commit another crime?
5. An Air Force study indicates that the probability of a disaster such as the January 28, 1986 explosion of the space shuttle Challenger was 1 in 35. The Challenger flight was the 25th mission.
a. How many disasters would you expect in the first 25 flights?
b. Use the normal approximation to estimate the probability of at least one disaster in 25 missions.
At what annual rate of return can you triple your money in 8 years
1. What is the future value of $5,000 in 10 years at 5%, compounded monthly?
2. What is the future value of $10,000 in 8 years at 8%, compounded quarterly?
3. If you receive $10,000 in 5 years, what is its value today if the appropriate interest rate is 8% and interest is compounded semi-annually?
4. If you received $10,000 5 years back, what is its value today if the appropriate interest rate is 8% and interest is compounded monthly?
5. At what annual rate of return can you triple your money in 8 years if interest is compounded monthly?
6. At what annual rate of return can you quadruple (means 4 times) your money in 16 years, if interest is compounded quarterly?
7. How many periods will it take you to quadruple (means 4 times) your money at 7%, if interest is compounded semi-annually? How many years will it take?
8. How many periods will it take $500 to grow to $8,000 if you believe you can earn interest at the rate of 9% compounded monthly? How many years will it take?
9. What is the present value of $15,500 received in 10 years if interest of 1% is compounded monthly?
10. What is the present value of $22,000 received in 5 years if interest of 1% is compounded quarterly?
A+ Answers
A study of two types of weed killers was done on two identical weed plots. One weed killer killed 15% more weeds than the other. This difference was significant at the 0.05 level. What does this mean?
A water slide launches a child horizontally above a swimming pool
A water slide launches a child horizontally above a swimming pool. vertical distance from the top of the slide to the launch point is 2.76 m. The point where the child is launched horizontally is 0.7 m above the water. How far from the launch point does the child land in the water?
This study attempts to determine if native English speakers are able to state the font color of
This study attempts to determine if native English speakers are able to state the font color of words which are color names faster than native Spanish speakers. All participants were fluent in English, regardless of their primary language. Ten individuals of each group were given a series of color names, presented in such a way that the font color used did not match the color name being presented. The time taken for each participant to state the font color used was recorded and an average time was calculated for each participant. The data for both groups is presented in the table below:
ParticN NECW Age ParticN SSCW Age
1 39 27 11 32 52
2 44 32 12 27 27
3 59 29 13 29 33
4 38 34 14 34 40
5 58 40 15 40 31
6 62 38 16 38 28
7 41 35 17 35 22
8 59 51 18 28 23
9 58 50 19 36 25
10 76 29 20 38 38
1 39 27 11 32 52
2 44 32 12 27 27
3 59 29 13 29 33
4 38 34 14 34 40
5 58 40 15 40 31
6 62 38 16 38 28
7 41 35 17 35 22
8 59 51 18 28 23
9 58 50 19 36 25
10 76 29 20 38 38
Question 1. Develop an effective electrical maintenance program
Question 1. Develop an effective electrical maintenance program for a hotel complex comprised of a main hotel with 764 rooms, 12 two bedroom cottages, spa, swimming pool, three restaurants, sports bar lounge, retail shops, guest laundry, and four parking lots. Be specific with your plans and provide ample details to support your thoughts.
Question 2. As the facilities manager of a 600 room resort hotel, explain what items you would include in staff training on HVAC system maintenance. Also, discuss which staff you would include in the training and who would serve as the training leader.
Penn Foster: 412755RR
Exam: 412755RR
1. What is the main objective of unemployment insurance?
A. Assist an employer in acquiring appropriate personnel in times of need
B. Provide temporary monetary assistance for individuals who are involuntarily out of work
C. Enable the federal government in tracking the unemployment rate
D. Provide funding to Social Security and Medicare programs
2. Which one of the following marketing research techniques is the best to use at a small firm to determine the benefits that employees need?
A. Give employees questionnaires with open-ended questions so that they may express their concerns and opinions about the benefit plan.
B. Conduct a meeting with senior management to determine what benefit changes should be made.
C. Conduct personal interviews with employees, or ask employees to complete questionnaires with closed-ended questions.
D. Conduct personal interviews with employees, and then conduct a competitive analysis to determine what your competitors are offering.
3. Which one of the following statements is true of workers' compensation laws?
A. Most state workers' compensation laws cover agriculture workers and domestic employees.
B. All states require employers to purchase workers' compensation from an insurance company.
C. Workers' compensation laws are generally based on the principle of liability without fault.
D. Under the previously held standard of the fellow-servant doctrine, any evidence of a worker's negligence would deny him or her coverage for an on-the-job injury.
4. Martin is a 63-year-old fully insured employee. Which one of the following statements is true of his 65year-old wife and her Part A Medicare?
A. She will pay through the old age and survivors' trust fund.
B. She will pay monthly premiums and will be supplemented from federal revenues.
C. She will pay through a flat tax on income up to a certain amount.
D. She will not have to pay for her Part A Medicare.
5. Before the benefit-planning process begins, you should establish
A. bids from outsourcing vendors.
B. survey questions.
C. medical insurance rates.
D. objectives.
6. Which one of the following methods is becoming the increasingly accepted method for determining
employee benefit needs?
A. Marketing research
B. Competitor analysis
C. Collectively bargained benefits
D. Employer perception of employee needs
7. The Social Security Act was enacted in
A. 1945.
B. 1940.
C. 1935.
D. 1950.
8. At what age do disabled widows and widowers become eligible for Medicare Part A at no cost?
A. 50
B. 40
C. 60
D. 30
9. Which one of the following objectives is most appropriate for an employer to use with the benefit plan that it offers?
A. To establish a holiday bonus plan for the years 2012 and 2013
B. To implement an annual increase of 3 percent in the salary of management employees
C. To provide Prudential medical insurance to all employees
D. To establish and maintain an employee benefit program that rewards the efforts of the employees
10. Which one of the following statements is true of disability benefits?
A. Disability benefits are subject to a waiting period.
B. A disabled worker must have a disability that has lasted, or is expected to last, at least 36 months.
C. Disabled workers are ineligible to receive benefits under Social Security if they are disability insured.
D. Payments begin with the twelfth full calendar month of disability.
11. What does the term pay-as-you-go mean in relation to the method by which Social Security pays benefits?
A. Taxes on the benefits of retired people are used to pay benefits to current beneficiaries.
B. Taxes on current workers are used to pay benefits to current beneficiaries.
C. General revenues are used to pay Social Security benefits.
D. Monthly premiums paid by all workers are used to pay benefits.
12. Of the following choices, which one is a benefit in the cost of services to employees category?
A. Jury duty
B. Educational assistance
B. Educational assistance
C. Free parking
D. Vacations
13. If either parent of a student under the age of 18 died today, the student would would most likely qualify for _______ benefits.
A. medicare
B. survivors
C. disability
D. retirement
14. If unemployment were high, and the Social Security taxes being collected weren't enough to pay benefits, the government can turn to _______ fund reserves to get money to pay these benefits.
A. U.S. Treasury emergency
B. Social Security and Medicare trust
C. employee pension
D. unemployment insurance
15. If you were laid off from your job and became temporarily disabled while still unemployed, which of the following states would you hope to be living in?
A. Ohio
B. Florida
C. Alabama
D. New Jersey
16. Edward Marchand, the owner of Archway Manufacturing, provides on-site ATMs and dry cleaning pick-up for his employees. In doing so, Mr. Marchand is taking a _______ approach to employee benefit planning.
A. marketing research
B. collective bargaining
C. work/life
D. life-cycle
17. The term primary insurance amount (PIA) refers to the amount that a/an
A. worker receives each month if he or she retires at full retirement age.
B. employee must earn to become fully insured under Social Security.
C. employee must pay toward health insurance.
D. dependent spouse receives at the age of 62.
18. Carla just started a new job. She's currently in a probationary period in which she's not eligible for medical insurance. Which one of the following options can Carla use, at her expense, to fill the gap until her benefits begin?
A. ERISA
B. COBRA
C. PPO
D. HMO
19. Which one of the following factors has most contributed to the high cost of employee benefits?
A. Medical expense benefits
B. Life insurance benefits
C. Paid vacations
D. Long-term disability coverage
20. In most states, if an employee becomes involuntarily unemployed because of a layoff, his or her unemployment benefits will generally run out in a maximum of _______ weeks.
A. 26
B. 39
C. 45
D. 52
Discuss South Africa’s apartheid policy of 1948. How was it initiated
Discuss South Africa’s apartheid policy of 1948. How was it initiated? Provide historical information of the time from the passing of this policy until gaining independence in 1979
Project 2 Warrantless Search and Seizure Memorandum for UMUC
Project 2 Warrantless Search and Seizure Memorandum for UMUC? Here are the details:
Officer Timothy Johnson was working Unit 226 in the Northern District on the midnight-to-eight shift. He had gone into the station to gas up his marked patrol car about 3:00 AM. As he was leaving he heard the dispatcher put out an “Amber Alert” call for missing child. The three-year old girl, Wanda Jones, had been taken from the home of her custodial grandmother who saw the estranged father put the child in the trunk of a small foreign sports car. Wanda is white female, 27 inches tall, short brown hair, brown eyes last seen wearing a light blue nightshirt. The father was Albert Finney, 69 inches tall, brown hair, brown, brown eyes, wearing a white tee-short and blue jeans. “No further description of the vehicle is available at this time.” the dispatcher announced.
Officer Johnson realized the address provided in the broadcast was in the Northern District, about 2 miles east of the stationhouse. He hurried back to his patrol area after noting all of the dispatched information. About an hour later Johnson pulled up at a traffic light behind a Fiat coupe sports car. In this community sports cars were not at all unusual, but as this one pulled away Johnson noticed that it stuttered and stalled. The driver re-started the car, but it stuttered forward and stalled again. Johnson quickly concluded either the driver was having mechanical trouble, or the driver was impaired, either way, he was going to perform a car stop.
Once Johnson got the car to pull over to the curb, he approached the driver’s window and asked for his license and vehicle registration. Doing so, Johnson notices no odor of alcohol but the driver was clearly nervous. The driver responded that he didn’t have his wallet with his license and the car registration. Back in his car Johnson entered the car license tag on his computer terminal and learned it was registered to a Ronald Wilson with an address across the city. As he was noting the address Officer Johnson looked up and was surprised to see that the driver had gotten out of his car and was approaching him.
Johnson got out of his car and, with his hand on the grip of his holstered sidearm ordered the driver to put his hands on the hood of the police car. Johnson did a quick pat down of the driver. In the front right pocket of the driver’s pants Johnson felt what he thought might be a handgun. Without hesitation Johnson reached into the pocket and retrieved a hand-carved pipe with a golf-ball size bowl and a 5-inch long pipe. Johnson’s senses and experience told him this was being used as a pot-pipe.
Johnson thought he had probable cause for an arrest, but he wasn’t interested in taking the time and effort for a single piece of drug paraphernalia. Still, Johnson handcuffed the driver and placed him in the rear seat of the patrol car. He asked the still-unidentified subject for his name. Elliott Watson was the response. Johnson noted that “Watson” had on a brown “hoodie” sweatshirt over a white tee-shirt and wore blue jeans. Both his hair and eyes looked brown in the street lighting available. Remembering the Amber Alert, Johnson asked the subject again if his name was Albert Finney…or Ronald Wilson. The handcuffed subject in the backseat repeated his name was Elliott Watson and said that the officer better let him go “ ‘cause he didn’t do anything wrong.”
Unsatisfied, Officer Johnson returned to the sports car and, after reaching in to retrieve the keys from the ignition, used the keys to open the vehicle trunk. All the while he could hear “what do you think your doin’?” And, “Stay outta my car!” coming from the rear seat of his unit. In the streetlight Johnson saw a large dry cleaner-type cellophane bag containing what appeared to the officer to be marijuana. Johnson returned to his car and informed the man who identified himself as Elliott Watson that he was under arrest for possession of suspected marijuana with intent to distribute.
Project Question:
Carefully look at the facts and explain your answers to the issues in a formal memorandum by using search and seizure law, the facts and reasonable inferences from those facts.
Identify and evaluate any issues regarding the stop, continued detention, pat down and/or searches or arrest of Mr. Watson using cases and principles we have studied to support your arguments. Please conclude the memorandum with a discussion of whether the arrest of Mr. Watson and search of his vehicle were valid.
** Use cases we have studied, the texts and modules we have read and other cases you might find in your research to support your evaluation of the issues. Cite any resources you use to compose this memorandum
Officer Timothy Johnson was working Unit 226 in the Northern District on the midnight-to-eight shift. He had gone into the station to gas up his marked patrol car about 3:00 AM. As he was leaving he heard the dispatcher put out an “Amber Alert” call for missing child. The three-year old girl, Wanda Jones, had been taken from the home of her custodial grandmother who saw the estranged father put the child in the trunk of a small foreign sports car. Wanda is white female, 27 inches tall, short brown hair, brown eyes last seen wearing a light blue nightshirt. The father was Albert Finney, 69 inches tall, brown hair, brown, brown eyes, wearing a white tee-short and blue jeans. “No further description of the vehicle is available at this time.” the dispatcher announced.
Officer Johnson realized the address provided in the broadcast was in the Northern District, about 2 miles east of the stationhouse. He hurried back to his patrol area after noting all of the dispatched information. About an hour later Johnson pulled up at a traffic light behind a Fiat coupe sports car. In this community sports cars were not at all unusual, but as this one pulled away Johnson noticed that it stuttered and stalled. The driver re-started the car, but it stuttered forward and stalled again. Johnson quickly concluded either the driver was having mechanical trouble, or the driver was impaired, either way, he was going to perform a car stop.
Once Johnson got the car to pull over to the curb, he approached the driver’s window and asked for his license and vehicle registration. Doing so, Johnson notices no odor of alcohol but the driver was clearly nervous. The driver responded that he didn’t have his wallet with his license and the car registration. Back in his car Johnson entered the car license tag on his computer terminal and learned it was registered to a Ronald Wilson with an address across the city. As he was noting the address Officer Johnson looked up and was surprised to see that the driver had gotten out of his car and was approaching him.
Johnson got out of his car and, with his hand on the grip of his holstered sidearm ordered the driver to put his hands on the hood of the police car. Johnson did a quick pat down of the driver. In the front right pocket of the driver’s pants Johnson felt what he thought might be a handgun. Without hesitation Johnson reached into the pocket and retrieved a hand-carved pipe with a golf-ball size bowl and a 5-inch long pipe. Johnson’s senses and experience told him this was being used as a pot-pipe.
Johnson thought he had probable cause for an arrest, but he wasn’t interested in taking the time and effort for a single piece of drug paraphernalia. Still, Johnson handcuffed the driver and placed him in the rear seat of the patrol car. He asked the still-unidentified subject for his name. Elliott Watson was the response. Johnson noted that “Watson” had on a brown “hoodie” sweatshirt over a white tee-shirt and wore blue jeans. Both his hair and eyes looked brown in the street lighting available. Remembering the Amber Alert, Johnson asked the subject again if his name was Albert Finney…or Ronald Wilson. The handcuffed subject in the backseat repeated his name was Elliott Watson and said that the officer better let him go “ ‘cause he didn’t do anything wrong.”
Unsatisfied, Officer Johnson returned to the sports car and, after reaching in to retrieve the keys from the ignition, used the keys to open the vehicle trunk. All the while he could hear “what do you think your doin’?” And, “Stay outta my car!” coming from the rear seat of his unit. In the streetlight Johnson saw a large dry cleaner-type cellophane bag containing what appeared to the officer to be marijuana. Johnson returned to his car and informed the man who identified himself as Elliott Watson that he was under arrest for possession of suspected marijuana with intent to distribute.
Project Question:
Carefully look at the facts and explain your answers to the issues in a formal memorandum by using search and seizure law, the facts and reasonable inferences from those facts.
Identify and evaluate any issues regarding the stop, continued detention, pat down and/or searches or arrest of Mr. Watson using cases and principles we have studied to support your arguments. Please conclude the memorandum with a discussion of whether the arrest of Mr. Watson and search of his vehicle were valid.
** Use cases we have studied, the texts and modules we have read and other cases you might find in your research to support your evaluation of the issues. Cite any resources you use to compose this memorandum
A+ Answers
1. Products A, B, and C are produced from a single raw material input. The raw material costs $90,000, from which 5,000 units of A, 10,000 units of B, and 15,000 units of C can be produced each period.
Product A can be sold at the split-off point for $2 per unit, or it can be processed further at a cost of $12,500 and then sold for $5 per unit. Product A should be
A. processed further, since this will increase profits by $12,500 each period.
B. processed further, since this will increase profits by $2,500 each period.
C. sold at the split-off point, since further processing will result in a loss of $2,500 each period.
D. sold at the split-off point, since further processing would result in a loss of $0.50 per unit.
Use the following information to answer this question.
2. Larkins Company's earnings per share of common stock for Year 2 was closest to:
A. $17.50.
B. $16.83.
C. $25.00.
D. $7.21.
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Year 2 Year 1
Current assets:
Cash and marketable securities
3. Larkins Company's price-earnings ratio on December 31, Year 2 was closest to:
A. 20.79
B. 8.91
C. 8.57
D. 6.00
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Year 2 Year 1
Current assets:
Dividends during Year 2 totaled $135 thousand, of which $12 thousand were preferred dividends. The market price of a share of common stock on December 31, Year 2 was $150.
4. Larkins Company's return on common stockholders' equity for Year 2 was closest to:
A. 25.9%.
B. 23.5%.
C. 24.4%.
D. 26.9%.
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Dividends during Year 2 totaled $135 thousand, of which $12 thousand were preferred dividends. The
market price of a share of common stock on December 31, Year 2 was $150.
5. Larkins Company's dividend payout ratio for Year 2 was closest to:
A. 42.9%
B. 14.8%
C. 24.6%
D. 40.6%
6. Brittman Corporation makes three products that use the current constraint-a particular type of machine.
Data concerning those products appear below:
Assume that sufficient constraint time is available to satisfy demand for all but the least profitable product.
Up to how much should the company be willing to pay to acquire more of the constrained resource?
IP NI YD
Selling price per unit $183.57 $207.74 $348.15
Variable cost per unit $144.42 $155.04 $269.50
Minutes on the constraint 2.90 3.40 5.50
A. $78.65 per unit
B. $13.50 per minute
C. $15.50 per minute
D. $39.15 per unit
7. The net present value method assumes that the project's cash flows are reinvested at the
A. payback rate of return.
B. discount rate used in the net present value calculation.
C. simple rate of return.
D. internal rate of return.
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Year 2 Year 1
8. Larkins Company's dividend yield ratio on December 31, Year 2 was closest to:
A. 5.0%.
B. 4.1%.
C. 2.1%.
D. 4.6%.
9. An increase in the market price of a company's common stock will immediately affect its
A. debt-to-equity ratio.
B. dividend payout ratio.
C. dividend yield ratio.
D. earnings per share of common stock.
10. Ignore income taxes in this problem.) Purvell Company has just acquired a new machine. Data on the
machine follow:
Purchase cost $50,000
The company uses straight-line depreciation and a $5,000 salvage value. (The company considers salvage
value in making depreciation deductions.) Assume cash flows occur uniformly throughout a year.
The simple rate of return would be closest to
Annual cost savings $15,000
Life of the machine 8 years
A. 12.5%.
B. 30.0%.
C. 18.75%.
D. 17.5%.
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Year 2 Year 1
Current assets:
Cash and marketable securities
Accounts receivable, net
Inventory
Prepaid expenses
11. Larkins Company's return on total assets for Year 2 was closest to:
A. 17.0%.
B. 16.0%.
C. 13.6%.
D. 15.3%.
12. A project profitability index greater than zero for a project indicates that
A. the discount rate is less than the internal rate of return.
B. the company should reevaluate its discount rate.
C. the project is unattractive and shouldn't be pursued.
D. there has been a calculation error.
Use the following information to answer this question.
The most recent balance sheet and income statement of Teramoto Corporation appear below:
Comparative Balance Sheet
Ending
Balance
Beginning
Balance
Assets:
Cash and cash equivalents
Accounts receivable
Inventory
13. The net cash provided by (used by) financing activities for the year was
A. ($12).
B. $1.
C. ($18).
D. $5.
14. A weakness of the internal rate of return method for screening investment projects is that it
A. implicitly assumes that the company is able to reinvest cash flows from the project at the internal rate of return.
B. doesn't take into account all of the cash flows from a project.
C. doesn't consider the time value of money.
D. implicitly assumes that the company is able to reinvest cash flows from the project at the company's discount rate.
Use the following information to answer this question.
Financial statements for Larkins Company appear below:
Larkins Company
Statement of Financial Position
December 31, Year 2 and Year 1
(dollars in thousands)
Year 2 Year 1
Current assets:
15. Larkins Company's book value per share at the end of Year 2 was closest to:
A. $23.33.
B. $70.00.
C. $10.00.
D. $76.67.
16. Which of the following would be classified as a financing activity on the statement of cash flows?
A. Dividends paid to shareholders of the company on the company's common stock
B. Interest paid on bonds issued by the reporting company
C. Interest received on investments in another company's bonds
D. Dividends received on investments in another company's common stock
17. Cridwell Company's selling and administrative expenses for last year totaled $210,000. During the year,
the company's prepaid expense account balance increased by $18,000, and accrued liabilities increased by
$12,000. Depreciation charges for the year were $24,000. Based on this information, selling and
administrative expenses adjusted to a cash basis under the direct method on the statement of cash flows
would be
A. $228,000.
B. $192,000.
C. $180,000.
D. $240,000.
18. Fonics Corporation is considering the following three competing investment proposals:
Using the project profitability index, how would the above investments be ranked (highest to lowest)?
Aye Bee Cee
Initial investment required $62,000 $74,000 $95,000
Net present value $10,000 $8,000 $12,000
Internal rate of return 15% 17% 18%
A. Aye, Bee, Cee
B. Bee, Cee, Aye
C. Aye, Cee, Bee
D. Cee, Bee, Aye
19. A company's current ratio and acid-test ratios are both greater than 1. If obsolete inventory is written off, this would
A. increase the acid-test ratio.
B. decrease the current ratio.
C. decrease the acid-test ratio.
D. increase net working capital.
20. (Ignore income taxes in this problem.) The following data pertain to an investment:
The net present value of the proposed investment is
Cost of the investment $18,955
Life of the project 5 years
Annual cost savings $5,000
Estimated salvage value $1,000
Discount rate 10%
A. $3,355.
B. $(3,430).
C. $0.
D. $621.
Second set of questions below
Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page
break, so be sure that you have seen the entire question and all the answers before choosing an answer.
1. The Charade Company is preparing its Manufacturing Overhead budget for the fourth quarter of the
year. The budgeted variable factory overhead is $5.00 per direct-labor hour; the budgeted fixed factory
overhead is $75,000 per month, of which $15,000 is factory depreciation. If the budgeted direct-labor time
for December is 8,000 hours, then total budgeted factory overhead per direct-labor hour (rounded) is
A. $14.38.
B. $12.50.
C. $9.38.
D. $16.25.
Use the following information to answer this question.
Werber Clinic uses client visits as its measure of activity. During January, the clinic budgeted for 2,700
client visits, but its actual level of activity was 2,730 client visits. The clinic has provided the following data
concerning the formulas used in its budgeting and its actual results for January:
Data used in budgeting:
Fixed element Variable element
per month per client-visit
Revenue ___-___ $33.60
Personnel expenses $22,100 $8.70
Medical supplies 1,100 6.60
Occupancy expenses 5,600 1.60
Administrative expenses 3,700 0.40
Total expenses $32,500 $17.30
Actual results
for January:
Revenue $93,408
Personnel expenses $46,251
Medical supplies $19,348
Occupancy expenses $9,508
Administrative expenses $4,772
2. The activity variance for personnel expenses in January would be closest to
A. $661 F.
B. $261 F.
C. $661 U.
D. $261 U.
Use the following information to answer this question.
Werber Clinic uses client visits as its measure of activity. During January, the clinic budgeted for 2,700
client visits, but its actual level of activity was 2,730 client visits. The clinic has provided the following data
concerning the formulas used in its budgeting and its actual results for January:
Data used in budgeting:
Fixed element Variable element
per month per client-visit
Revenue ___-___ $33.60
Personnel expenses $22,100 $8.70
Medical supplies 1,100 6.60
Occupancy expenses 5,600 1.60
Administrative expenses 3,700 0.40
Total expenses $32,500 $17.30
Actual results
for January:
Revenue $93,408
Personnel expenses $46,251
Medical supplies $19,348
Occupancy expenses $9,508
Administrative expenses $4,772
3. The activity variance for administrative expenses in January would be closest to
A. $12 U.
B. $12 F.
C. $8 U.
D. $8 F.
4. The cash budget must be prepared before you can complete the
A. schedule of cash disbursements.
B. raw materials purchases budget.
C. budgeted balance sheet.
D. production budget.
Use the following information to answer this question.
Moorhouse Clinic uses client visits as its measure of activity. During December, the clinic budgeted for
3,700 client visits, but its actual level of activity was 3,690 client visits. The clinic has provided the
following data concerning the formulas used in its budgeting and its actual results for December:
Data used in budgeting:
Fixed element Variable element
per month per client-visit
Revenue ____-____ $25.10
Personnel expenses $27,100 $7.10
Medical supplies 1,500 4.50
Occupancy expenses 6,000 1.00
Administrative expenses 3,000 0.10
Total expenses $37,600 $12.70
Actual results
for December:
Revenue $96,299
Personnel expenses $51,009
Medical supplies $17,425
Occupancy expenses $9,240
Administrative expenses $3,239
5. The activity variance for personnel expenses in December would be closest to
A. $2,361 U.
B. $71 F.
C. $71 U.
D. $2,361 F.
6. The budget or schedule that provides necessary input data for the direct-labor budget is the
A. production budget.
B. raw materials purchases budget.
C. cash budget.
D. schedule of cash collections.
7. Last year, the House of Orange had sales of $826,650, net operating income of $81,000, and operating
assets of $84,000 at the beginning of the year and $90,000 at the end of the year. What was the company's turnover rounded to the nearest tenth?
A. 10.2
B. 9.8
C. 9.5
D. 9.2
Use the following information to answer this question.
The Adams Company, a merchandising firm, has budgeted its activity for November according to the
following information:
• Sales were at $450,000, all for cash.
• Merchandise inventory on October 31 was $200,000.
• The cash balance on November 1 was $18,000.
• Selling and administrative expenses are budgeted at $60,000 for November and are paid for in cash.
• Budgeted depreciation for November is $25,000.
• The planned merchandise inventory on November 30 is $230,000.
• The cost of goods sold is 70% of the selling price.
• All purchases are paid for in cash.
8. The budgeted cash disbursements for November are
A. $530,000.
B. $375,000.
C. $345,000.
D. $405,000.
9. The company plans to sell 22,000 units of Product WZ in June. The finished-goods inventories on June
1 and June 30 are budgeted to be 100 and 400 units, respectively. The direct labor hours are 11,000 and
the direct labor rate is $10.50. Budgeted direct-labor costs for June would be
A. $462,000.
B. $234,150.
C. $455,700.
D. $117,075.
Use the following information to answer this question.
Cole Laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard
costs for one bag of Fastgro as follows:
Standard Standard Cost
Quantity per bag
Direct material 20 pounds $8.00
Direct labor 0.1 hours $1.10
Variable overhead 0.1 hours $0.40
The company had no beginning inventories of any kind on January 1. Variable overhead is applied to
production on the basis of standard direct-labor hours. During January, the company recorded the following
activity:
• Production of Fastgro: 4,000 bags
• Direct materials purchased: 85,000 pounds at a cost of $32,300
• Direct-labor worked: 390 hours at a cost of $4,875
• Variable overhead incurred: $1,475
• Inventory of direct materials on January 31: 3,000 pounds
10. The labor rate variance for January is
A. $585 F.
B. $475 F.
C. $475 U.
D. $585 U.
Use the following information to answer this question.
Moorhouse Clinic uses client visits as its measure of activity. During December, the clinic budgeted for
3,700 client visits, but its actual level of activity was 3,690 client visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December:
Data used in budgeting:
Fixed element Variable element
per month per client-visit
Revenue ____-____ $25.10
Personnel expenses $27,100 $7.10
Medical supplies 1,500 4.50
Occupancy expenses 6,000 1.00
Administrative expenses 3,000 0.10
Total expenses $37,600 $12.70
Actual results
for December:
Revenue $96,299
Personnel expenses $51,009
Medical supplies $17,425
Occupancy expenses $9,240
Administrative expenses $3,239
11. The medical supplies in the flexible budget for December would be closest to
A. $17,378.
B. $18,150.
C. $18,105.
D. $17,472.
12. Division X of Charter Corporation makes and sells a single product which is used by manufacturers of fork lift trucks. Presently it sells 12,000 units per year to outside customers at $24 per unit. The annual capacity is 20,000 units and the variable cost to make each unit is $16. Division Y of Charter Corporation would like to buy 10,000 units a year from Division X to use in its products. There would be no cost savings from transferring the units within the company rather than selling them on the outside market.
What should be the lowest acceptable transfer price from the perspective of Division X?
A. $24.00
B. $17.60
C. $16.00
D. $21.40
Use the following information to answer this question.
Cole Laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard
costs for one bag of Fastgro as follows:
Standard Standard Cost
Quantity per bag
Direct material 20 pounds $8.00
Direct labor 0.1 hours $1.10
Variable overhead 0.1 hours $0.40
The company had no beginning inventories of any kind on January 1. Variable overhead is applied to production on the basis of standard direct-labor hours. During January, the company recorded the following activity:
• Production of Fastgro: 4,000 bags
• Direct materials purchased: 85,000 pounds at a cost of $32,300
• Direct-labor worked: 390 hours at a cost of $4,875
• Variable overhead incurred: $1,475
• Inventory of direct materials on January 31: 3,000 pounds
13. The labor efficiency variance for January is
A. $475 F.
B. $130 U.
C. $350 U.
D. $110 F.
14. A company's average operating assets are $220,000, and its net operating income is $44,000. The company invested in a new project, increasing average assets to $250,000 and increasing its net operating income to $49,550. What is the project's residual income if the required rate of return is 20%?
A. $450
B. ($600)
C. ($450)
D. $600
15. There are various budgets within the master budget. One of these budgets is the production budget.
Which of the following best describes the production budget?
A. It details the required raw materials purchases.
B. It's calculated based on the sales budget and the desired ending inventory.
C. It summarizes the costs of producing units for the budget period.
D. It details the required direct-labor hours.
Use the following information to answer this question.
Cole Laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard costs for one bag of Fastgro as follows:
Standard Standard Cost
Quantity per bag
Direct material 20 pounds $8.00
Direct labor 0.1 hours $1.10
Variable overhead 0.1 hours $0.40
The company had no beginning inventories of any kind on January 1. Variable overhead is applied to production on the basis of standard direct-labor hours. During January, the company recorded the following activity:
• Production of Fastgro: 4,000 bags
• Direct materials purchased: 85,000 pounds at a cost of $32,300
• Direct-labor worked: 390 hours at a cost of $4,875
• Variable overhead incurred: $1,475
• Inventory of direct materials on January 31: 3,000 pounds
16. The materials quantity variance for January is
A. $300 F.
B. $300 U.
C. $750 F.
D. $800 U.
17. Super Drive is a computer hard-drive manufacturer. The company's balance sheet for the fiscal year
ended on November 30 appears below:
Super Drive, Inc.
Statement of Financial Position
For the year ended November 30
Assets:
Cash $52,000
Accounts receivable 150,000
Inventory 315,000
Property, plant, and equipment 1,000,000
Total Assets $1,517,000
Liabilities and stockholders' equity:
Accounts payable $175,000
Common stock 900,000
Retained earnings 442,000
Total liabilities and
stockholders' equity $1,517,000
Additional information regarding Super Drive's operations appears below:
• Sales are budgeted at $520,000 for December and $500,000 for January.
• Collections are expected to be 60% in the month of sale and 40% in the month following sale. There are no bad debts.
• 80% of the disk-drive components are purchased in the month prior to the month of the sale, and 20% are purchased in the month of the sale. Purchased components comprise 40% of the cost of goods sold.
• Payment for components purchased is made in the month following the purchase.
• Assume that the cost of goods sold is 80% of sales.
The budgeted cash collections for the upcoming December should be
A. $402,000.
B. $520,000.
C. $208,000.
D. $462,000.
Use the following information to answer this question.
Moorhouse Clinic uses client visits as its measure of activity. During December, the clinic budgeted for 3,700 client visits, but its actual level of activity was 3,690 client visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December:
Data used in budgeting:
Fixed element Variable element
per month per client-visit
Revenue ____-____ $25.10
Personnel expenses $27,100 $7.10
Medical supplies 1,500 4.50
Occupancy expenses 6,000 1.00
Administrative expenses 3,000 0.10
Total expenses $37,600 $12.70
Actual results
for December:
Revenue $96,299
Personnel expenses $51,009
Medical supplies $17,425
Occupancy expenses $9,240
Administrative expenses $3,239
18. The personnel expenses in the planning budget for December would be closest to
A. $53,370.
B. $51,147.
C. $51,009.
D. $53,299.
Use the following information to answer this question.
Werber Clinic uses client visits as its measure of activity. During January, the clinic budgeted for 2,700 client visits, but its actual level of activity was 2,730 client visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for January:
Data used in budgeting:
Fixed element Variable element
per month per client-visit
Revenue ___-___ $33.60
Personnel expenses $22,100 $8.70
Medical supplies 1,100 6.60
Occupancy expenses 5,600 1.60
Administrative expenses 3,700 0.40
Total expenses $32,500 $17.30
Actual results
for January:
Revenue $93,408
Personnel expenses $46,251
Medical supplies $19,348
Occupancy expenses $9,508
Administrative expenses $4,772
19. The activity variance for net operating income in January would be closest to
A. $2,019 U.
B. $2,019 F.
C. $489 F.
D. $489 U.
Use the following information to answer this question.
Cole Laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard costs for one bag of Fastgro as follows:
Standard Standard Cost
Quantity per bag
Direct material 20 pounds $8.00
Direct labor 0.1 hours $1.10
Variable overhead 0.1 hours $0.40
The company had no beginning inventories of any kind on January 1. Variable overhead is applied to production on the basis of standard direct-labor hours. During January, the company recorded the following activity:
• Production of Fastgro: 4,000 bags
• Direct materials purchased: 85,000 pounds at a cost of $32,300
• Direct-labor worked: 390 hours at a cost of $4,875
• Variable overhead incurred: $1,475
• Inventory of direct materials on January 31: 3,000 pounds
20. The total variance (both rate and efficiency) for variable overhead for January is
A. $85 F.
B. $100 U.
C. $40 F.
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