You are considering a 10 year investment plan in which your target is $150,000. There are two
Question:
You are considering a 10 year investment plan in which your target is $150,000. There are two options available for you:
Option 1: Putting exactly an equal amount of money into an investment fund at the end of each year for 10 years with the rate of return of 8%, annually compounding.
Option 2: Putting your initial investment of $50,000 in an asset that will pay you 9% rate of return, compounding quarterly for the first 6 years. The rate of return, compounding annually for the last 4 years (the period from year 7 to the end of year 10) has not been defined yet.
Required:
Calculate the amount of money you should put into your investment fund each year in Option 1?
Compute the effective annual interest rate (EAR) in the first 6 years in Option 2?
Compute the annually compounding rate of return you should target for your asset in the following 4 years to get $150, 000 at the end of year ten in Option 2?
Additional Information The company's chief financial officer (CFO), in consultation with various managers across the organization has developed the following set of assumptions to help create the 2022 budget: 1 The budgeted unit sales are 12,000 units, 37,000 units, 15,000 units and 25,000 units for quarters 1-4, respectively. Notice that the company experiences peak sales in the second and fourth quarters. The budgeted selling price for the year is $33 per unit. The budgeted unit sales for the first quarter of 2023 is 13,000 units 2 All sales are on credit. Uncollectible accounts are negligible and can be ignored. Seventy-five percent of all credit sales are collected in the quarter of the sale and 25% are collected in the subsequent quarter. 3 Each quaarter's ending finished goods inventory should equal 15% of the next quarter's unit sales 4 Each unit of finished goods requires 3.5 yards of raw material that costs $3.25 per yard. Each quarter's ending raw materials inventory should equal 10% of the next quarter's production needs. The estimated ending raw materials inventory on Dececember 31, 2022 is 5,000 yards 5 Seventy-five percent of each quarter's purchases are paid for in the quarter of purchase. The remaining 25% of each quarter's purchases are paid in the following quarter 6 Direct laborers are paid $20 an hour and each unit of finished goods requires 0.25 direct labor-hours to complete. All direct labor costs are paid in the quarter incurred 7 The budgeted variable manufacturing overhead per direct labor-hour is $3.25. The quarterly fixed manufacturing overhead is $150,000 including $20,000 of depreciation on equipment. The number of direct labor-hours is used as the allocation base for the budgeted plantwide overhead rate. All overhead costs (excluding depreciation) are paid in the quarter incurred. 8 The budgeted variable selling and administrative expense is $1.25 per unit sold. The fixed selling and administrative expenses per quarter include advertising ($20,000), executive salaries ($64,000), insurance ($13,000) property tax ($8,000) and depreciation expense ($8,000). All selling and administrative expenses (excluding depreciation) are paid in the quarter incurred. 9 The company plans to maintain a minimum cash balance at the end of each quarter of $40,000. Assume that any borrowings take place on the first day of the quarter. To the extent possible, the company will repay principal and interest on any borrowings on the last day of the fourth quarter. The company's lender imposed a simple interest rate of 5% per quarter on any borrowings. 10 Dividends of $20,000 will be declared and paid in each quarter 11 The company uses a last-in, first-out (LIFO) inventory flow assumption. This means that the most recently purchased raw materials are the "first-out" to production and most recentaly completed finished goods are the "first-out" to customers. Required: The company's CFO has asked you to prepare the 2022 master budget. To fulfill this request, prepare the following budget schedules and financial statements 1 Quarterly sales budget including a schedule of expected cash collections 2 Quarterly production budget 3 Quarterly direct materials budget including a schedule of expected cash disbursements for purchases of materials 4 Quarterly direct labor budget 5 Quarterly manufacturing overhead budget 6 Ending finished goods inventory budget at December 31, 2022 7 Quarterly selling and administrative expense budget 8 Quarterly cash budget 9 Income Statement for the year ended Decem er 31, 2022 10 Balance Sheet at December 31, 2022 Current Assets: Cash Total current assets Accounts Receivable (net) Raw materials inventory (4,500 yards) Finished goods inventory (1,500 units) Plant and equipment: Buildings and equipment Accumulated depreciation Plant and equipment, net Total Assets Current liabilities: LMN Company Balance Sheet December 31, 2021 Accounts Payable Assets Liabilities and Stockholders' Equity Stockholders' equity: Common stock Retained earnings Total stockholders; equty Total liabilities and stockholder's equity 46,200 260,000 11,250 32,250 900,000 -292,000 419,800 379,900 349,700 608,000 957,700 158,000 799,700 957,700 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Sales Budget For the Year Ended December 31, 2022 Budgeted unit sales Selling price per unit Total Sales Beginning accounts receivable First-quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections 0 CHECK FIGURE: Total cash collections for the year-$2,990,750 2 Quarter Schedul of Expected Cash Collections 0 3 0 0 Total 0 0 0 0 D 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Production Budget For the Year Ended December 31, 2022 Budgeted unit sales Add desired units of ending finished goods inventory Total needs Less units of beginning finished goods inventory Required production in units CHECK FIGURE: Total required production in units = 89.450 0 0 2 Quarter 0 0 0 0 0 Total Đ D 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication of division formulas LMN Company Direct Materials Budget For the Year Ended December 31, 2022 Required production in units Quantity of raw materials needed per unit Quantity of raw materials needed to meet production Add desired quantity of ending raw materials inventory Total quantity of raw materials needed Less quantity of beginning raw materials inventory Quantity of raw materials to be purchased Cost of raw materials per yard Cost of raw materials to be purchased Beginning accounts payable First quarter purchases Second quarter purchases Third quarter purchases Fourth quarter purchases Total cash disbursements for materials 0 CHECK FIGURE: Total cash disbursements for materials for the year-$1,113,679 0 0 Quarter 0 Schedule of Expected Cash Disbursements for Purchases of Materials 0 0 0 0 0 0 Total 0 0 0 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Required production in units Direct labor hours per unit Total direct labor hours needed Direct labor cost per hour Total direct labor cost Direct Labor Budget For the Year Ended December 31, 2022 0 2 Quarter 0 0 3 0 0 4 0 0 Total 0 o 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted direct labor hours needed. Variable manufacturing overhead per direct labor hour Variable manufacturing overhead per direct labor bour Fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead Manufacturing Overhead Budget For the Year Ended December 31, 2022 Total manufacturing overhead Budgeted direct labor hours Predetermined overhead rate for the year (Total Manuf OH/Budgeted Dt. Hours) CHECK FIGURE: Total manufacturing overhead-5672,678 0 D Quarter 0 0 0 0 Total 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication of division formulas LMN Company Item Production cost per unit: Direct materials Direct labor Manufacturing overhead Unit product cost (DM+ DL+Manuf O/H) Budgeted finished goods inventory: Units from prior year's production Unit product cost Cost from prior year's production (units x product cost) Units from current year's production Unit product cost Cost from current year's production (units x product cost) Ending Finished Goods Inventory Budget (absorption costing basid) For the Year Ended December 31, 2022 Cost of ending finished goods inventory (Cost from prior year's production + Cost from current year's production) CHECK FIGURE: Cast of ending finished goods inventory = $43,003 Quantity yards bours hours Cost per yard per hour per hour Total 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted units sales (Schedule 1) Variable Selling & administrative expense per unit Total Variable selling and administrative expense Fixed selling and administrative expenses: Advertising Executive Salaries Insurance Property taxes Depreciation Total fixed selling and administrative expenses Total selling and administrative expenses Selling and Administrative Expense Budget For the Year Ended December 31, 2022 Less: depreciation Cash disbursements for selling and administrative expenses CHECK FIGURE: Total selling and administrative expenses $563,250 0 0 0 2 Quarter 0 0 0 3 0 ol 0 D 0 Total 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Cash Budget For the Year Ended December 31, 2022 Beginning cash balance. Add cash receipts Collections from customers Total cash available Less cash disbursements Direct materials Direct labor Manufacturing overhead. Selling and administrative Dividends Total cash disbursements Excess (defiency) of cash available over disbursements Financing Borrowings (at the beginning of quarters) Repayments (at end of the year-enter as a negative number) Interest (at 5% per quarter-enter as a negative numbers) Total financing Ending cash balance CHECK FIGURE: Ending cash balance as of the fourth quarter-$270.533 0 0 0 0 2 Quarter 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 Total 0 0 0 0 0 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Cash Budget For the Year Ended December 31, 2022 Beginning cash balance. Add cash receipts Collections from customers Total cash available Less cash disbursements Direct materials Direct labor Manufacturing overhead. Selling and administrative Dividends Total cash disbursements Excess (defiency) of cash available over disbursements Financing Borrowings (at the beginning of quarters) Repayments (at end of the year-enter as a negative number) Interest (at 5% per quarter-enter as a negative numbers) Total financing Ending cash balance CHECK FIGURE: Ending cash balance as of the fourth quarter-$270.533 0 0 0 0 2 Quarter 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 Total 0 0 0 0 0 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted income Statement For the Year Ended December 31, 2022 (Absorption costing basis) Sales Cost of goods sold Gross margin Selling and Administrative expenses Net operating income Interest expense Net income 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted Balance Sheet December 31, 2022 Current Assets: Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Plant and Equipment Buildings and equipment Accumulated depreciation (enter has a negative number) Plant and equipment, net Total assets Current liabilities: Accounts payable (raw materials) Stockholders' equity: Common stock, no par Retained earnings: Total stockholders' equity Total liabilities and stockholders' equity Assets Liabilities and Stockholders' Equity Total Assets must equal Total Liabilities & Stockholders' Equity Follow the format example on page 377 ( 0 0 0 Additional Information The company's chief financial officer (CFO), in consultation with various managers across the organization has developed the following set of assumptions to help create the 2022 budget: 1 The budgeted unit sales are 12,000 units, 37,000 units, 15,000 units and 25,000 units for quarters 1-4, respectively. Notice that the company experiences peak sales in the second and fourth quarters. The budgeted selling price for the year is $33 per unit. The budgeted unit sales for the first quarter of 2023 is 13,000 units 2 All sales are on credit. Uncollectible accounts are negligible and can be ignored. Seventy-five percent of all credit sales are collected in the quarter of the sale and 25% are collected in the subsequent quarter. 3 Each quaarter's ending finished goods inventory should equal 15% of the next quarter's unit sales 4 Each unit of finished goods requires 3.5 yards of raw material that costs $3.25 per yard. Each quarter's ending raw materials inventory should equal 10% of the next quarter's production needs. The estimated ending raw materials inventory on Dececember 31, 2022 is 5,000 yards 5 Seventy-five percent of each quarter's purchases are paid for in the quarter of purchase. The remaining 25% of each quarter's purchases are paid in the following quarter 6 Direct laborers are paid $20 an hour and each unit of finished goods requires 0.25 direct labor-hours to complete. All direct labor costs are paid in the quarter incurred 7 The budgeted variable manufacturing overhead per direct labor-hour is $3.25. The quarterly fixed manufacturing overhead is $150,000 including $20,000 of depreciation on equipment. The number of direct labor-hours is used as the allocation base for the budgeted plantwide overhead rate. All overhead costs (excluding depreciation) are paid in the quarter incurred. 8 The budgeted variable selling and administrative expense is $1.25 per unit sold. The fixed selling and administrative expenses per quarter include advertising ($20,000), executive salaries ($64,000), insurance ($13,000) property tax ($8,000) and depreciation expense ($8,000). All selling and administrative expenses (excluding depreciation) are paid in the quarter incurred. 9 The company plans to maintain a minimum cash balance at the end of each quarter of $40,000. Assume that any borrowings take place on the first day of the quarter. To the extent possible, the company will repay principal and interest on any borrowings on the last day of the fourth quarter. The company's lender imposed a simple interest rate of 5% per quarter on any borrowings. 10 Dividends of $20,000 will be declared and paid in each quarter 11 The company uses a last-in, first-out (LIFO) inventory flow assumption. This means that the most recently purchased raw materials are the "first-out" to production and most recentaly completed finished goods are the "first-out" to customers. Required: The company's CFO has asked you to prepare the 2022 master budget. To fulfill this request, prepare the following budget schedules and financial statements 1 Quarterly sales budget including a schedule of expected cash collections 2 Quarterly production budget 3 Quarterly direct materials budget including a schedule of expected cash disbursements for purchases of materials 4 Quarterly direct labor budget 5 Quarterly manufacturing overhead budget 6 Ending finished goods inventory budget at December 31, 2022 7 Quarterly selling and administrative expense budget 8 Quarterly cash budget 9 Income Statement for the year ended Decem er 31, 2022 10 Balance Sheet at December 31, 2022 Current Assets: Cash Total current assets Accounts Receivable (net) Raw materials inventory (4,500 yards) Finished goods inventory (1,500 units) Plant and equipment: Buildings and equipment Accumulated depreciation Plant and equipment, net Total Assets Current liabilities: LMN Company Balance Sheet December 31, 2021 Accounts Payable Assets Liabilities and Stockholders' Equity Stockholders' equity: Common stock Retained earnings Total stockholders; equty Total liabilities and stockholder's equity 46,200 260,000 11,250 32,250 900,000 -292,000 419,800 379,900 349,700 608,000 957,700 158,000 799,700 957,700 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Sales Budget For the Year Ended December 31, 2022 Budgeted unit sales Selling price per unit Total Sales Beginning accounts receivable First-quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections 0 CHECK FIGURE: Total cash collections for the year-$2,990,750 2 Quarter Schedul of Expected Cash Collections 0 3 0 0 Total 0 0 0 0 D 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Production Budget For the Year Ended December 31, 2022 Budgeted unit sales Add desired units of ending finished goods inventory Total needs Less units of beginning finished goods inventory Required production in units CHECK FIGURE: Total required production in units = 89.450 0 0 2 Quarter 0 0 0 0 0 Total Đ D 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication of division formulas LMN Company Direct Materials Budget For the Year Ended December 31, 2022 Required production in units Quantity of raw materials needed per unit Quantity of raw materials needed to meet production Add desired quantity of ending raw materials inventory Total quantity of raw materials needed Less quantity of beginning raw materials inventory Quantity of raw materials to be purchased Cost of raw materials per yard Cost of raw materials to be purchased Beginning accounts payable First quarter purchases Second quarter purchases Third quarter purchases Fourth quarter purchases Total cash disbursements for materials 0 CHECK FIGURE: Total cash disbursements for materials for the year-$1,113,679 0 0 Quarter 0 Schedule of Expected Cash Disbursements for Purchases of Materials 0 0 0 0 0 0 Total 0 0 0 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Required production in units Direct labor hours per unit Total direct labor hours needed Direct labor cost per hour Total direct labor cost Direct Labor Budget For the Year Ended December 31, 2022 0 2 Quarter 0 0 3 0 0 4 0 0 Total 0 o 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted direct labor hours needed. Variable manufacturing overhead per direct labor hour Variable manufacturing overhead per direct labor bour Fixed manufacturing overhead Total manufacturing overhead Less depreciation Cash disbursements for manufacturing overhead Manufacturing Overhead Budget For the Year Ended December 31, 2022 Total manufacturing overhead Budgeted direct labor hours Predetermined overhead rate for the year (Total Manuf OH/Budgeted Dt. Hours) CHECK FIGURE: Total manufacturing overhead-5672,678 0 D Quarter 0 0 0 0 Total 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication of division formulas LMN Company Item Production cost per unit: Direct materials Direct labor Manufacturing overhead Unit product cost (DM+ DL+Manuf O/H) Budgeted finished goods inventory: Units from prior year's production Unit product cost Cost from prior year's production (units x product cost) Units from current year's production Unit product cost Cost from current year's production (units x product cost) Ending Finished Goods Inventory Budget (absorption costing basid) For the Year Ended December 31, 2022 Cost of ending finished goods inventory (Cost from prior year's production + Cost from current year's production) CHECK FIGURE: Cast of ending finished goods inventory = $43,003 Quantity yards bours hours Cost per yard per hour per hour Total 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted units sales (Schedule 1) Variable Selling & administrative expense per unit Total Variable selling and administrative expense Fixed selling and administrative expenses: Advertising Executive Salaries Insurance Property taxes Depreciation Total fixed selling and administrative expenses Total selling and administrative expenses Selling and Administrative Expense Budget For the Year Ended December 31, 2022 Less: depreciation Cash disbursements for selling and administrative expenses CHECK FIGURE: Total selling and administrative expenses $563,250 0 0 0 2 Quarter 0 0 0 3 0 ol 0 D 0 Total 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Cash Budget For the Year Ended December 31, 2022 Beginning cash balance. Add cash receipts Collections from customers Total cash available Less cash disbursements Direct materials Direct labor Manufacturing overhead. Selling and administrative Dividends Total cash disbursements Excess (defiency) of cash available over disbursements Financing Borrowings (at the beginning of quarters) Repayments (at end of the year-enter as a negative number) Interest (at 5% per quarter-enter as a negative numbers) Total financing Ending cash balance CHECK FIGURE: Ending cash balance as of the fourth quarter-$270.533 0 0 0 0 2 Quarter 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 Total 0 0 0 0 0 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Cash Budget For the Year Ended December 31, 2022 Beginning cash balance. Add cash receipts Collections from customers Total cash available Less cash disbursements Direct materials Direct labor Manufacturing overhead. Selling and administrative Dividends Total cash disbursements Excess (defiency) of cash available over disbursements Financing Borrowings (at the beginning of quarters) Repayments (at end of the year-enter as a negative number) Interest (at 5% per quarter-enter as a negative numbers) Total financing Ending cash balance CHECK FIGURE: Ending cash balance as of the fourth quarter-$270.533 0 0 0 0 2 Quarter 0 0 0 0 3 0 0 0 0 0 0 0 0 0 0 Total 0 0 0 0 0 0 0 0 0 0 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted income Statement For the Year Ended December 31, 2022 (Absorption costing basis) Sales Cost of goods sold Gross margin Selling and Administrative expenses Net operating income Interest expense Net income 0 0 0 Boxes highlighted in yellow contain automatic addition, subtraction, multiplication or division formulas LMN Company Budgeted Balance Sheet December 31, 2022 Current Assets: Cash Accounts receivable Raw materials inventory Finished goods inventory Total current assets Plant and Equipment Buildings and equipment Accumulated depreciation (enter has a negative number) Plant and equipment, net Total assets Current liabilities: Accounts payable (raw materials) Stockholders' equity: Common stock, no par Retained earnings: Total stockholders' equity Total liabilities and stockholders' equity Assets Liabilities and Stockholders' Equity Total Assets must equal Total Liabilities & Stockholders' Equity Follow the format example on page 377 ( 0 0 0
Expert Answer:
Managerial Accounting
ISBN: 9781260247787
17th Edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Students also viewed these accounting questions
-
Equal deposits are made into a sinking fund at the end of each year for seven years. Interest is 5.5% compounded annually, and the maturity value of the fund is $20 000. Find the size of the annual...
-
You are a salesperson. At the end of each month, you submit an expense report for reimbursement of personal funds you spent performing business duties such as client luncheons and travel. Last month,...
-
At the end of each year, you plan to deposit $2,000 in a savings account. The account will earn 9% annual interest, which will be added to the fund balance at year-end. The first deposit will be made...
-
A mutual fund has 20 stocks in its portfolio. On a given day 9 stocks move up, 3 stay the same, and 8 move down. In how many ways could this happen?
-
Cash flow from operations was $700,000 for 2011 and $863,000 for 2012. Does this suggest that management of Great Oaks Furniture has manipulated earnings upward in these years? The following...
-
A military base in the United States is examining the distribution of the amount of time that officers on the base have been in the military. The following data show the years of military service for...
-
How can statistical sampling be utilized in making a study of internal control?
-
Hasan Fareed, a 24-year-old college graduate, never took a personal finance class. He pays his bills on time, has managed to save a little in an investment account, and with the help of an...
-
Why do some companies choose to operate within one of these steps, while other companies choose to operate across multiple steps of the value chain? Is it always better to operate in multiple steps...
-
Reds Furniture Manufacturing produces a line of tables and chairs from specialty hardwoods. It makes three different styles of chairs, and each chair takes about the same amount of direct labor time...
-
Write the default IPv4 class with Subnet Mask in decimal format for each router according to the required number of IP addresses without wasting much of the IP addresses in sequence below? R1 R2 R3...
-
A 20 g bullet moving horizontally at 50 m/s strikes a 7kg wooden block on a table. The bullet embedded in the block after the collision. A. Use the conservation of momentum for an example of the...
-
To measure and control the effectiveness of the change solution for Elite Knowledge Training, a balanced scorecard approach will be utilized. This will allow for a comprehensive and balanced view of...
-
Consider the complexity of the following code segment in terms of the number f(n) of arithmetic operations performed on the variable a. determine justifying the expression of f(n) and indicates its...
-
Allison Corporation acquired all of the outstanding voting stock of Mathias, Incorporated, on January 1, 2023, in exchange for $5,977,500 in cash. Allison Intends to maintain Mathias as a wholly...
-
Calculate the approximate delay by the following routine if the crystal frequency is 11.0592 MHz void TOM1Delay (void) { TMOD =0x01; TLO=0XFD; THO=0x4B; TRO=1; 5+5 } while (TFO==0); TRO=0; TFO=0;
-
How long does a company have to keep an employee's payroll records after an employee leaves the company? Five years, only if the employee is fired Three years, only if the employee leaves voluntarily...
-
Consider the reaction of acetic acid in water CH 3 CO 2 H(aq) + H 2 O(l) CH3CO 22 (aq) + H 3 O + (aq) where Ka 5 1.8 3 1025. a. Which two bases are competing for the proton? b. Which is the stronger...
-
Shimada Products Corporation of Japan plans to introduce a new electronic component to the market at a target selling price of $15 per unit. The company is investing $5,000,000 to purchase the...
-
Refer to the information pertaining to Endless Mountain Company that is provided in Integration Exercise 16. In addition to the budget schedules that you prepared in Integration Exercise 16, insert...
-
What effect does an increase in the activity level have on a. Average fixed costs per unit? b. Variable costs per unit? c. Total fixed costs? d. Total variable costs?
-
In Exercise 14.8 a significant difference might lead someone to suggest that poor parentchild relationships are the cause of schizophrenia. Why might this be a troublesome conclusion? Exercise 14.8...
-
What is the role of random sampling in the anorexia study?
-
In the example in this chapter about the treatment of anorexia, what basic assumption would we have to make if we compared the final weights of the two groups (rather than comparing the amount of...
Study smarter with the SolutionInn App