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The following is the selling price and cost information about three joint products: X Y Z Anticipated production 1 2 , 0 0 0 lbs . 8 , 0 0 0 lbs . 7 , 0 0 0 lbs . Selling price / lb . at split - off...
The Casings Plant of Wyoming Machines makes plastics shells for the company's calculators. (Each calculator requires one shell.) For each of the next two years, Wyoming expects to sell 660,000...
Norton Ltd manufactures a single product, which is sold for $150 per unit. The standard variable costs per unit of the product are: Direct material 4 kilos at $8 per kilo Direct labour 5 hours at $10...
4. Bob plans to retire in 20 years. By then he hopes that his savings are equivalent to $1,000,000 today. Assuming annual inflation of 3% and investment returns of 7%: a. How much does Bob need to...
Varmit-B-Gone is a pest control service that operates in a suburban neighborhood. The company attempts to make service calls at least once a month to all homes that subscribe to its service. It makes...
What is the major distinction between a static budget and a flexible budget? What are the costs versus benefits when a manufacturing business implements a flexible budget? What is an example of a...
Green Pastures is a 400-acre farm on the outskirts of the Kentucky Bluegrass, specializing in the boarding of broodmares and their foals. A recent economic downturn in the thoroughbred industry has...
Joe exchanged a business building with a basis of $ 3 6 0 , 0 0 0 and a FMV of $ 4 0 0 , 0 0 0 for a similar building worth $ 3 5 0 , 0 0 0 and $ 5 0 , 0 0 0 cash. What is Joe\'s recognized gain?
May purchased 70% of the outstanding common stock of Gardens on 1/1/19 for $18.0 million in cash. Gardens reported the following income and dividends for 2019 and 2020 (in 000's): Net Income...
Other information: Phila received an annuity of R1 500 a month for the entire 2024 year of assessment. She purchased the annuity on 1 March 2005 for R240 000 for a 20 year period. Phila is a very...
Prior to the 2019 PBA finals, a Cubao area clothes retailer purchased 5,000 t-shirts that read: GINEBRA - FOR LIFE. The company paid, on average, P350.00 for each of these customized T-shirts. With...
Wilkin Products Ltd. makes a single product using two processes. Quality control check takes place during the process, at which point, rejected units are separated from good units. The following...
Levittown Company employs a process cost system for its manufacturing operations. All direct materials are added at the beginning of the process and conversion costs are added proportionately....
How many ounces of trimmed asparagus can you expect to get out of 1 # of purchased asparagus, if the yield percentage of asparagus is 79%?
You own 30% of the stock of a company that has 10 directors on its board. How much representation can you get on the board if the company has cumulative voting? How much representation can you ensure...
Consolidations Review Problem Due on Monday, April 29, 2024 at 10:00 am on Canvas. All parts must be neatly typed. May purchased 70% of the outstanding common stock of Gardens on 1/1/19 for $18.0...
Stubs-R-Us is a local event ticket broker. Last year, the company sold 910,000 tickets with an average commission of $5. Because of the general economic climate, Stubs expects ticket volume to...
Flowers For Everyone is considering replacing its existing delivery van with a new one. The new van can offer considerable savings in operating costs. Information about the existing van and the new...
Eastern Motors Auto Dealership wanted to estimate the average CLV over a 5 year time horizon of a customer who purchases a new vehicle. The average vehicle sells for $24,400 and has a margin of 10% ....
Tampa Hospital has been considering the purchase of a new x-ray machine. The existing machine is operable for five more years and will have a zero disposal price. The new machine will cost $580,000....
Furniture City bought chairs for $70.00 less 33&1/3%, 23%, and 10%. The store's overhead is 79% of cost and net profit is 30% of cost. Do not include $ signs or % signs in your answers. All dollar...
What is the AP weight of 2 # 6 oz of peeled turnips if their yield percentage is 88%?
Elliott, Inc., has four salaried clerks to process purchase orders. Each clerk is paid a salary of $24,800 and is capable of processing as many as 6,150 purchase orders per year. Each clerk uses a PC...
Midland Company buys tiles and prints different designs on them for souvenir and gift stores. It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the...
If given a total amount for sales including tax, how can you figure out the amount of the sales tax? Total is $432,000 including 8% sales tax.
1. a) Does the AASB have legal power to enforce accounting standards within Australia? If not, then who does? b) What is differential reporting? Which entities in Australia do they relate to? 2. The...
Innovative Technologies Inc. assembles circuit boards by using a manually operated machine to insert electronic components. The original cost of the machine is $ 7 5 , 0 0 0 , the accumulated...
A bunch of pears' AP weight is 3 # 4 oz. Their weight after peeling, coring, and slicing is 1 # 14 oz. What is the yield percentage for these pears?
Eastern Motors Auto Dealership wanted to estimate the average CLV over a 5 year time horizon of a customer who purchases a new vehicle. The average vehicle sells for $24,400 and has a margin of 10% ....
A company uses cost-volume-profit analysis to evaluate a new product. The total fixed costs of production per year are $175,000. The unit variable cost is $65. Calculate the breakeven units at the...
Paynesville Corporation manufactures and sells a preservative used in food and drug manufacturing. The company carries no inventories. The master budget calls for the company to manufacture and sell...
Roscoe Construction Company (RCC) is a company specializing in building roads and highways. As a part of its business, it receives supplies of aggregate from two suppliers: Toorak Gravel (TG) and...
Ag-Coop is a large farm cooperative with a number of agriculture-related manufacturing and service divisions. As a cooperative, it pays no federal income taxes. The company owns a fertilizer plant...
Pappy's Toys makes two models of a metal toyStandard and DeLuxe. Both models are produced on a single machine. The price and costs of the two models appear as follows. StandardDeLuxePrice per...
A merchandising company is considering a $1,300,000 upgrade to its retail and warehousing facilities that will allow the company to handle more products and attract more customers. The company...
Donovan & Parents produces soccer shorts and jerseys for youth leagues. Most of the production is done by machine. Data on operations and costs for March follow. JerseysShortsTotalUnits...
Ag-Coop is a large farm cooperative with a number of agriculture-related manufacturing and service divisions. As a cooperative, it pays no federal income taxes. The company owns a fertilizer plant...
Nasiraan company started operations in the current month. During the month. 10,000 units were started in Department 1. Of the units started, 1,000 units were spoiled at the end of the process which...
Pilgrim Corporation processes frozen turkeys. The company has not been pleased with its profit margin per product because it appears that the high value items have too few costs assigned to them,...
The Parrot Company sold 150,000 units @ Rs. 30 each, Variable cost is Rs. 20 (Manufacturing Rs. 15 & Marketing Rs. 5), Fixed Cost is Rs. 1,200,000 annually which occurs evenly throughout the year...
Calvin Johnson rents an apartment in Detroit from his landlord Miguel Cabrera. Detroit, which has recently experienced significant population declines and has a large number of vacant or unoccupied...
Your Convenience Store is a chain of 23 convenience stores located in the southwest United States. The following data are provided in the excel file: Store Number Prior year audited sales dollars...
As you know we are continuing to undertake a review of our operations. I have been asked by the SMM to analyse sales variances for quarter three (July to September) of the year in more detail than...
Following are the particulars of the Amul- Ice-Cream company's cost sheet: Particulars Total Cost Rs. Cost per Unit Rs. Rs. Direct Material Consumed: Opening stock of Material 100000 10 Raw material...
7 1. A processor of cured meats uses a static soaking method to achieve a 20% pump (solution pick up) in a boneless cured meat product. The process involves soaking the meat for 3 weeks to achieve...
1.Milaro's Pizza was located in Burke, VA. On January 1, 2019, a grease fire from the kitchen completely destroyed the restaurant, which as of that date was valued at $275,000. Luckily, the...
Managers encourage employees to do misleading activities such as speak falsehood and deceive customers which is clearly visible in the statement in the case " Sales are everything" wherein an...
Pepito Ltd is a manufacturing firm which produces two types of products, Ariel and Blippy. Every month, the accountant draws up a forecast of the expected profit or loss, in addition to, the forecast...
Bennett limited provides mobile library services to the community of longbourn. bennett has preliminary operating results for the first year and the company found that net income is different from...
I have questions on these problems while working on my homework Set up a complete skeletal statement with both dollars and percents for #s 1-7 below. (Round dollars to nearest dollar; show percents...
Do you think such behavior is common at other companies or do you think this was a fairly isolated event? Why? 2. How important is the "tone at the top" (the tone set by company leadership? Why? 3....
On 1 February 2020 Divine Denim has a cash balance of $40 000. Sales for the next six months are expected to be: The gross margin on sales is expected to be 50%. The company plans to carry a finished...
A company has the following trial balance as at 31 December 2015: TRIAL BALANCE AS AT 31 DEC 2015 Dr Cr Sales Revenue 125 000 Purchases 78 000 Carriage 4 000 Electricity and rent 5 100 Administrative...
Crude oil imports to one country from another for 2009-2013 could be approximated by the following model where t is time in years since the start of 2000. I(t) = -38t + 800t - 2,000 thousand barrels...
Problem 24: Cost of Production Report (Discrete) The following information is available for Aquaman Corporation for the month of February: Started in Process units WIP beginning (40% complete) Normal...
Assume that Boardmaster sold skateboards to a department store for \($35,000\) cash. How would this transaction affect Boardmasters accounting equation? a. Increase both assets and stockholders...
Boardmaster is famous for custom skateboards. At the end of a recent year, Boardmasters total assets added up to \($622\) million, and stockholders equity was \($487\) million. How much did...
Generally Accepted Accounting Principles (GAAP) are created by the a. Securities and Exchange Commission (SEC). b. Financial Accounting Standards Board (FASB). C. Institute of Management Accountants...
Which type of business organization is owned by its stockholders? a. Proprietorship b. Partnership C. Corporation d. All the above are owned by stockholders.
The income statement reports a. financial position on a specific date. b. results of operations on a specific date. C. financial position for a specific period. d. results of operations for a...
Consider the overall effects of transactions in questions 5, 6, and 7 on Boardmaster. What is Boardmasters net income or net loss? a. Net income of \($57,000 b. \) Net loss of \($3,000\) C. Net...
Assume that Boardmaster paid expenses totaling $38,000. How does this transaction affect Boardmasters accounting equation? a. Increases assets and decreases liabilities b. Increases both assets and...
Assume that Boardmaster sold skateboards to another department store for $22,000 on account. Which parts of the accounting equation does a sale on account affect? a. Accounts Receivable and Accounts...
Lore Levi was worried as she scanned the most recent monthly bank statement for the Howard Street Jewelers.1 For decades, she and her husband, Julius, had owned and operated the small business that...
Donald Sheelen was born into a middleclass family in upstate New York in 1946. In high school, the handsome Sheelen was the prototype of the allA merican boy, excelling in both academics and...
In 1980, Frank Sinopoli, a 27-year-old accountant, accepted a job offer from a CPA firm based in Dallas, Texas. Four years later, Sinopoli became a partner with the firm. Perkins, Dexter, Sinopoli &...
Over the past few decades, hedge funds have become among the most controversial and largest investment vehicles on Wall Street. Critics of hedge funds argue that their high-risk investment strategies...
The Great Depression dealt a devastating blow to Billy Durant. During the depths of the Depression in 1936, Durant, a high school dropout who was born a few months after the outbreak of the Civil War...
What are the top four drivers of learning efficiency?
What are three individual beliefs / attitudes / traits that drive learning efficiency?
What is the difference between accelerated learning and learning efficiency?
What is learning efficiency?
What is accelerated learning?
In 1937, Otto Bayer, a research scientist for the large German chemical company IG Farben, discovered a new chemical compound that would become known as polyurethane. During World War II,...
In 1983, Marta Giordano inherited the restaurant that her grandfather, Alberto Buranello, had established shortly after returning to his hometown of Boston after serving in World War I.1 For nearly a...
Borrowing money from a friend can strain even the strongest relationship. When the borrowed money will soon be plunked down on a blackjack table, the impact on the friendship can be devastating....
A Japanese bank introduced the concept of around-the-clock access to cash in the 1960s when it installed the worlds first cash-dispensing machine. In 1968, the first networked ATM appeared in Dallas,...
What is the biggest organization to have compromised the security and privacy of customer or employee data? What role could accountants have played in preventing this breach?
Do you agree that data is the new oil? What are three arguments for and against the view that data is the new oil?
What is the relationship between digital technologies, learning efficiency, and an accountants ability to keep up with digital technologies?
How do digital technologies enhance learning efficiency?
What is the role of digital technologies in learning efficiency?
What are some practical strategies for protecting your privacy?
What personal data are you emitting each day (e.g. via social media, search engines, mobile devices etc.)?
What can accountants do to minimize the risks to their employers data?
If an organization has a data lake, can it do without a data warehouse?
What is the difference between a database, a data warehouse, and a data lake?
What is clean data and what does the data cleansing process involve?
What is the difference between raw data, unstructured data, and structured data?
What are three ways you can use big data to improve your performance as an accountant?
What are three open data use cases in the accounting function?
What are five free open data sources that could be useful to accountants and how could they be useful?
Which of the BA and BI tools identified in example tools and vendors are suited to enterprise level customers, and which are suited to small / medium-sized business customers?
Which of the example tools and vendors are open source products or product providers?
What is the difference between business intelligence and business analytics?
Imagine you are a finance manager and you have the choice between two candidates to fill a vacant financial accounting position. One candidate has five years more experience including a stint at a...
As a finance manager with a vacancy on the accounting team, who would be more valuable to you: a data analyst, a business analyst, a data scientist, an accountant with deep accounting experience, or...
What is the difference between these roles: data analyst, business analyst, data scientist?
What is the difference between data science and data analytics?
Which of the data visualization tools in Example Tools and Vendors would be suited for use in an enterprise level organization and which would be suited for use in a small to medium-sized business?
Which of the data visualization tools in Example Tools and Vendors are open source tools?
As an accountant, what can you do to benefit from data visualization tools if you are not proficient in them yourself?
As an accountant, how could you benefit from being proficient in one or more data visualization tools?
What are the top five benefits to an accountant of understanding data analytics and data science terminology, tools, methods, and approaches?
What is a sensor? How is a connected sensor different?
What do we mean when we say things can communicate with each other? What types of communication can they undertake?
Is it possible for every single thing (living or nonliving) to be connected to the internet (e.g. could dust, water, bacteria, diseases, plates, trees, volcanoes, etc. be connected to the internet)?
What is the best metaphor you can think of to explain how the internet of things works?
What is a cyber-physical System (CPS)? Are there different types of cyber-physical systems?
What is edge computing? What is the IoT edge?
What is the difference between a connected IoT device, a smart IoT device, and an autonomous IoT device?
What is the difference between the internet of things (IoT), the internet of everything (IoE), and the industrial internet of things (IIoT)?
What sensors could you attach to a chair to give it human like senses?
What are ten different types of sensors?
Are Industry 4 .0 and the Fourth Industrial Revolution possible without cyberphysical systems?
What is the difference between Industry 4.0, Industrie 4.0, and the Fourth Industrial Revolution?
Which comes first, smart infrastructure, smart cities, or smart government?
Can you have smart workplaces and smart homes without smart buildings?
What is the difference between a smart building, a smart workplace, and a smart home?
What is the difference between artificial intelligence, machine learning, and deep learning?
What are five ways IoT and IoT-related technologies can compromise a persons privacy, security, and health?
What are the top seven AI use cases in the accounting profession?
What is the diference between an AI-enabled company and a true AI company?
What is the diference between an artifcial neural network and a deep neural network?
Are there more applications of general AI or of narrow AI in accounting practice?
What is the difference between general AI and narrow AI?
What is the diference between computer vision and machine vision?
What types of things can you do with a neural network that you cant do with a knowledge graph?
What is the diference between a bot, a chatbot, and a robot?
What are the similarities and differences between VCA and other forms of data analytics?
What organizational capabilities do organizations need in order to become true AI companies?
Rank the top six biggest risks and issues in relation to using artifcial intelligence.
What is an example of an expert system use case in the accounting profession?
Can VCA be applied to virtual reality, augmented reality, and mixed reality?
Where can organizations get the vast quantities of data required to train recurrent neural network algorithms to understand what they are seeing in video data?
What is a recurrent neural network? How is it different to other neural networks?
Sharif and Judith are married and purchased a vacation home together in Maine for $ 2 5 0 , 0 0 0 . Sharif died suddenly six months later and at that time the fair market value of the vacation home...
Would adding real-world objects into a virtual reality setting ft the definition of augmented reality?
How can VCA be used to improve the quality of products and of customer experience?
What are the top three SME grade VCA platforms?
What are the top three enterprise grade VCA platforms and which is the best?
What is an example of an innovative new product leveraging VCA that an organization could offer?
How can an organization use VCA to improve its operational efficiency?
What are the top five challenges to adopting and using VR, AR, and MR?
How could organizations use mixed reality to attract more customers?
How could organizations use augmented reality to improve real-life products and services?
Would adding real-world objects into a virtual reality setting ft the definition of mixed reality?
What are the top five risks associated with using VR, AR, and MR in accounting practice?
Within the example tools and vendors provided, identify three leading vendors and products in each of these product categories: gaming, marketing, healthcare, hospitality / tourism.
Within the example tools and vendors provided, identify three leading vendors and products in each of these product categories: consumer, small business, enterprise.
Within the example tools and vendors provided, identify three leading vendors and products in each of these product categories: virtual reality, immersive VR, augmented reality, mixed reality.
What are the top three risks to organizations not adopting or at least experimenting with VR, AR, and MR?
Why might there be resistance to establishing common international accounting standards?
In addition to financial information, what other information do you think is important in order to evaluate the achievement of a public sector entity?
It is not always easy to make a clear-cut distinction between private goods and public goods. Give examples of goods and services that are not pure public goods, but which are produced by the public...
The IPSASB identifies citizens as primary users of GPFRs. Is it reasonable to assume that citizens actually read GPFRs produced by public sector entities? If not, does it still make sense to design...
Group the example tools and vendors provided into the following categories: hardware products, software products, VR / AR / MR development platforms.
Do you think that the implementation of a global accounting system is possible?
Argue for and against theoretical and methodological pluralism in accounting research.
According to IT, organizations will apply structures and practices that are considered legitimate by other organizations within their organizational field. Why is it important for an organization to...
Why does the principals rationale for monitoring the agent differ between the private and the public sector?
Would you, as a government, use the IPSAS as a reference/basis for the implementation of an accrual-based accounting system in your country/ jurisdiction, or would you start from scratch? Why (not)?
Is it a good idea to implement a uniform accounting system in the EU, knowing the cost and effort it takes, in these times of economic instability?
Do you think that the development of a worldwide accounting system should be organized by an intergovernmental organization like the EU or UN, instead of a group of independent members who are not...
Compare the transformational and transactional approaches and formulate their (dis)advantages.
What could be the possible reasons for the difference in growth rate towards the IPSAS at local and central levels of government?
What do you think of the due process that the IPSASB is using for its standard development? What is good/bad about it?
The individuals in each sample are divided into three or more categories. In Exercises 5 and 6, determine whether the statement is true or false. If the statement is false, rewrite it as a true...
To use the method of this section to test a hypothesis about the difference between two proportions, each sample must contain at least _________________ individuals in each category. In Exercises 3...
To use the method of this section to test a hypothesis about the difference between two proportions, each population must be at least _______________ times as large as the sample drawn from it. In...
A sample of 200 voters over the age of 60 were asked whether they thought Social Security benefits should be increased for people over the age of 65. A total of 95 of them answered yes. A sample of...
In a clinical trial to compare the effectiveness of two pain relievers, a sample of 100 patients was given drug 1 and an independent sample of 200 patients was given drug 2. Of the patients on drug...
In a test for the difference between two proportions, the sample sizes were n1 = 68 and n2 = 76, and the numbers of events were x1 = 41 and x2 = 25. A test is made of the hypotheses H0: p1 = p2...
In a test for the difference between two proportions, the sample sizes were n1 = 120 and n2 = 85, and the numbers of events were x1 = 55 and x2 = 45. A test is made of the hypotheses H0: p1 = p2...
To compute the test statistic, it is necessary to compute the pooled proportion. In Exercises 5 and 6, determine whether the statement is true or false. If the statement is false, rewrite it as a...
An article in the Archives of Internal Medicine reported that in a sample of 244 men, 73 had elevated total cholesterol levels (more than 200 milligrams per deciliter). In a sample of 232 women, 44...
Medical researchers performed a comparison of two drugs, clopidogrel and ticagrelor, which are designed to reduce the risk of heart attack or stroke in coronary patients. A total of 6676 patients...
In a random sample of 340 cars driven at low altitudes, 46 of them exceeded a standard of 10 grams of particulate pollution per gallon of fuel consumed. In an independent random sample of 85 cars...
The National Health and Nutrition Examination Survey (NHANES) weighed a sample of 546 boys aged 611 and found that 87 of them were overweight. They weighed a sample of 508 girls aged 611 and found...
In August and September 2005, Hurricanes Katrina and Rita caused extraordinary flooding in New Orleans, Louisiana. Many homes were severely damaged or destroyed, and of those that survived, many...
Angioplasty is a medical procedure in which an obstructed blood vessel is widened. In some cases, a wire mesh tube, called a stent, is placed in the vessel to help it remain open. A study was...
The following TI-84 Plus calculator display presents the results of a hypothesis test for the difference between two proportions. The sample sizes are n1 = 165 and n2 = 152. a. Is this a left-tailed...
A new reading program is being tested. Parents are asked whether they would like to enroll their children, and 50 children are enrolled in the program. There are 45 children whose parents do not...
In a certain year, there was measurable snowfall on 80 out of 365 days in Denver, and 63 out of 365 days in Chicago. A meteorologist proposes to perform a test of the hypothesis that the proportions...
The following TI-84 Plus calculator display presents the results of a hypothesis test for the difference between two proportions. The sample sizes are n1 = 71 and n2 = 62. a. Is this a left-tailed...
The following computer output (from MINITAB) presents the results of a hypothesis test on the difference between two proportions. a. Is this a left-tailed test, a right-tailed test, or a two-tailed...
A computer manufacturer has a choice of two machines, a less expensive one and a more expensive one, to manufacture a particular computer chip. Out of 500 chips manufactured on the less expensive...
The following computer output (from MINITAB) presents the results of a hypothesis test on the difference between two proportions. a. Is this a left-tailed test, a right-tailed test, or a two-tailed...
Which of the following is an example of a favourable budget difference? (a) Actual sales are below budgeted sales. (b) Budgeted direct materials costs exceed actual direct material costs. (c) Actual...
The production budget shows: (a) managements best estimate of sales revenue for the budget period. (b) the units that must be produced to meet anticipated sales. (c) an estimate of both the quantity...
Your classmate asks your help in understanding how total budgeted costs are calculated at any level of activity. Calculate total budgeted costs at 30 000 direct labour hours, assuming that in the...
3. To construct a confidence interval for p1 p2, we must have two ______________ samples. In Exercises 3 and 4, fill in each blank with the appropriate word or phrase.
In a test of the effect of dampness on electrical connections, 80 electrical connections were tested under damp conditions and 130 were tested under dry conditions. Twenty of the damp connections...
A class of 30 computer science students were taught introductory computer programming class with an innovative teaching method that used a graphical interface and drag-and-drop methods of creating...
The key difference between static and flexible budgets lies in: (a) the source of information. (b) the number of activity levels displayed. (c) the breakdown of variable and fixed costs. (d) None of...
When constructing a confidence interval for p1 p2, we assume that items in each sample are divided into ________________ categories and that there are at least ________________ items in each...
The margin of error for p1 p2 is In Exercises 5 and 6, determine whether the statement is true or false. If the statement is false, rewrite it as a true statement. P1(1-1), 2(1-2) + 112
The point estimate for p1 p2 is p1 p2, where p1 = x1n1 and p2 = x2n2. In Exercises 5 and 6, determine whether the statement is true or false. If the statement is false, rewrite it as a true...
Level 95%: x1 = 42, n1 = 80, x2 = 18, n2 = 60 In Exercises 712, construct the confidence interval for the difference p1 p2 for the given level and values of x1, n1, x2, and n2.
Level 95%: x1 = 63, n1 = 106, x2 = 70, n2 = 126 In Exercises 712, construct the confidence interval for the difference p1 p2 for the given level and values of x1, n1, x2, and n2.
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