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During 2016, Wixey Company had sales revenue of $500,000 and written off $40,000 of uncollectible accounts. Prior to adjustment on December 31, 2016, the Allowance for Doubtful Accounts had a credit balance of $20,000. Wixey estimates that 2% of net credit sales will be uncollectible. What amount should Wixey report a...
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Use Lagrange multipliers to find the maximum or minimum values of the function subject to the given constraint. Indicate if an answer does not exist. $$f(x,y)=x^4+y^4; \text{ }x^2+y^2=2$$
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Compute the surface integral {eq}\displaystyle\iint_{S} \mathbf{F} \cdot \mathbf N \: dS{/eq} where {eq}\mathbf{F} = \left \langle y,z,x \right \rangle{/eq} over the plane {eq}33x - 19y + z = 1, \ 0 \leq x, \ y \leq 1{/eq} oriented by the upward-pointing normal.
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UMUC STAT Club wanted to estimate the study hours of STAT 200 students. Two STAT 200 sections were randomly selected and all students from these two sections were asked to fill out the questionnaire. This type of sampling is called: a) cluster b) convenience c) systematic d) stratified
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Heath Foods's bonds have 7 years remaining to maturity. The bonds have a face value of $1,000 and a yield to maturity of 8%. They pay interest annually and have a 12% coupon rate. What is their current yield?
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Is there a way to construct the Fourier Transform of {eq}x(t)=e^{-at}u(t) {/eq} using the Fourier transform table and not the integral definition of the Fourier transform? I can't see a way to manipulate the time domain function such that I can use the table.
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What is the limit of (cos 3x - cos 4x)/x^2 as x approaches infinity?
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If a firm borrows $1,000,000 at an annual interest rate of 12% and uses the funds to pay for a purchase of equipment, what will be the after-tax cost of the debt to the firm, assuming the company is in the 35% tax bracket and interest is deductible? a. 7.8% b. 3.9% c. 3.2% d. 12.0%
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People hold $400 million of bank deposits but no currency. Banks have made $380 million dollars of loans and only hold enough reserves to satisfy reserve requirements. Because of uncertainty, banks choose to hold $10 million more in reserves. The Fed takes no action. What happens to bank loans? a. they fall $200 milli...
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You plan to make monthly deposits of $300 into an account that pays 4.8% interest compounded monthly. What is the interest factor for the 15th deposit?
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Air Bubbles, Inc. is considering purchasing a new machine for $55,300, installed. The machine is expected to produce cash inflows of $12,000 in year one, $24,000 in year two, $16,000 in year three, and $10,000 in year four. Calculate the internal rate of return for the machine. (Remember, the internal rate of return i...
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The market for 12 oz cans of green beans is perfectly competitive. The market price is $4. Fred owns a canning plant at which he can produce and sell cans for $4 each. Which of the following statements is correct? a. Fred is maximizing his profit, because he is producing where MR = MC. b. Fred is incurring a large...
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Which of the following statements is false? a. In its simplest form, the break-even model can be represented by an algebraic equation. b. The break-even model can be used for all firms. c. The break-even model is sometimes called the operating break-even model. d. The variable cost to sales ratio can be used instea...
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The stock of Fred Corporation is selling for $115 per share. The firm's noncallable $1,000 par value bonds are selling for $860. The bonds mature in 20 years, carry a 10 percent coupon, and are currently yielding 11.30 percent. The firm's income tax rate is 40 percent. Using the MM with tax approach, what is the firm'...
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You have a $2 million portfolio consisting of a $100,000 investment in each of 20 different stocks. the portfolio has a beta equal to 1.1. You are considering selling $100,000 worth of one stock which has a beta equal to 0.9 and using the proceeds to purchase another stock which has a beta equal to 1.4. What will be t...
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Acme Inc., a company that produces and sells a single product, has provided its contribution format income statement for January. Sales (4,500 units) $243,000 Variable expenses 135,000 Contribution margin 108,000 Fixed expenses 72,000 Net operating income $36,000 If the company sells 4,200 units, its contributio...
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The quantity function of a product sold online is $\text{Q}(p)=100-\frac{1}{4}p^2$, where p is the price in dollars. What is the elasticity of demand when the price is $20? Is the demand inelastic or elastic at this price? How would the company's revenue be affected if it lowered prices?
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Find the smallest positive integer $n$ such that there are exactly four non-isomorphic abelian groups of order n. I found that when $n=12$, there are three non-isomorphic abelian groups: $\mathbb{Z}_{12}$, $\mathbb{Z}_6 \times \mathbb{Z}_2$, and $\mathbb{Z}_3 \times \mathbb{Z}_2 \times \mathbb{Z}_2$. However, the book ...
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Show that $k^{3}\mid 2^{k^{2}}-2^{k}$ if $k\in\mathbb{Z}$ and $k\geq 2$.
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Calculate the molar solubility of Mg(OH)2 in 1.0 M NaOH.
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Suppose for an event, the probability of an outcome is P. For n events, the probability of the outcome is n * P, assuming both P is small, and n isn't too large. This approximation makes "intuitive" sense, but where does it come from mathematically, and how accurate is it?
nP
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If the inventory cost is $84 per unit, what should the selling price per unit be to ensure a 40% markup on the selling price?
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I want to show that the sequence $s_n=\frac{2n^2+1}{n^2}$ is convergent. I have established that it is bounded below by 2, but what do I do next?
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What is the profitability index of a project that costs $1,010 and returns $500 in year 1, $300 in year 2, and $200 in year 3, given a discount rate of 9%?
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On January 1, 20X6, Jane Ltd., a publicly accountable enterprise, issued (sold) a $1,000,000, 4%, a five-year bond that pays interest semi-annually at par. Expenses directly attributable to the issuance of the bonds were $20,000. Net proceeds were thus $980,000 ($1,000,000 $20,000). At the option of the holder, each bo...
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I have a class called number: public class number{ public void number (int x) { int i=0; long y=1; for (i=1;i<=x;i++) { y=(y*i)%p; } System.out.println(y); } } I want to find the nth value of 1*2*3*4*5*6*.....*n mod p (where p is a prime number). Example: n=6 and p=7 1*2*3*4*5*6 mod 7=1 How do I write a...
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How much income would an accrual basis taxpayer report in 2016 in the following situation? John's Tractor Sales received a $150 deposit from a customer for a new tractor that the customer ordered in December. The tractor arrives the following February, at which time the customer pays the remaining $9800 of the agreed-...
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Suppose the random variable X is normally distributed, with mean {eq}\mu{/eq} = 100 and standard deviation {eq}\sigma{/eq} = 20. Compute the probability P(X > 95).
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Use polar coordinates to find the area of the region that lies inside the curve r = 4 cos θ and outside the curve r = 1.
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The time value of money is: A) the value of money at a particular point in time. B) the concept that a dollar received today is worth less than a dollar received in the future. C) the concept that a dollar received today is worth more than a dollar received in the future. D) none of the above.
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Your manager notes that you calculated the multifactor productivity for April as 4.81. She asks you what that means. You reply: a. "For every $4.81 in revenue, we cover all labor, overhead and material costs." b. "For every $1 in revenue, we produce 4.81 units." c. "For every $1 spent in operations, we produce 4.81...
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Determine the effect of the following transaction on the total liabilities and the debt ratio of a particular company: Sale of inventory for cash. Assume that the debt ratio is less than 1. a. Increase b. Decrease c. No effect d. Insufficient Data
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Ike, a single taxpayer, is reassigned for his job and must move to a new state. While searching for a place to live, he encounters a person who is selling their home in order to move to Ike's current city. The two agree to trade their properties to each other without any further consideration. Ike's house has a fair ...
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Countercyclical monetary policy in the AS/AD Model involves: A. contractionary monetary policy no matter what the level of unemployment. B. expansionary monetary policy no matter what the level of unemployment. C. contractionary monetary policy during periods of high unemployment and expansionary monetary policy dur...
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Company has owned 10 percent of Maust, Inc. for the past several years. This ownership did not allow Sisk to have significant influence over Maust. Recently, Sisk acquired an additional 30 percent of Maust and now will use the equity method. How will the investor report this change? a. A cumulative effect of an accoun...
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The following table shows the number of shares of common stock outstanding for a particular corporation and the high and low prices for a share of that common stock during the year. (Assume that the par value of each share of stock is $1.) Year-end number of shares outstanding 80 million ...
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The alternating group $A_5$ acts by permuting the five faces of the regular icosahedron. Consider the $3$-cycles $(1,2,3),\ (1,2,4)$ and $(1,2,5)$ in $A_5$. Each $3$-cycle corresponds to a rotation of the icosahedron about a certain axis, of order $3$, by $120^\circ$ and $240^\circ$. The three rotations intersect at a ...
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A local restaurant, with net sales for the current year equal to $120,000 and total purchases for the year equal to $70,000, has the following inventory data: Beginning inventory ($1,000) Year-end inventory ($3,000) Cost of goods sold is $56,000. If the LIFO method is used, income before tax will be: a. $62,000. b...
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What is the convergence radius and what happens at the edges for the series $$\sum_{n=1}^{\infty}\frac{(x+2)^{n^2}}{n^n}$$?
R=1
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Assume that Bob Corp. borrowed $100,000 from the Second Bank of the USA (the bank) on June 1, 2018. The company made no payments during the year, and on June 1, 2019, the bank reclassified the debt as a trade payable. The effect of this reclassification on the amount of Bob's interest expense for the year ended Decembe...
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Find {eq}\lim_{x \rightarrow 0} (\tan 2 x)^x
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A student's grade in a course is the average of 4 test grades and a final exam that is worth twice as much as each test. If a student has grades of 93, 88, and 91 on the first three tests, what is the lowest grade she could get on the final exam and still achieve an average of at least 92?
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I want to calculate the beta for a risky portfolio, given that the Risk-free rate is 3%, the market portfolio's expected return is 10%, and the portfolio's expected return is 13.5%. The risk-free investment weight is 25% and the market portfolio investment weight is 75%. How do I solve for beta using the CAPM formula: ...
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I'm looking to find the radius of convergence of this series: $$ \sum_{n=0}^\infty (-1)^n z^{n^2} $$ using the ratio test: $$ \lim_{n \to \infty} \left| \frac{(-1)^{n+1} z^{(n+1)^2}}{(-1)^n z^{n^2}} \right| $$ Simplifying this to: $$ \lim_{n \to \infty} \left| \frac{(-1)^{n+1} z^{n^2 + 2n + 1}}{(-1)^n z^{n^2}} \right| ...
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Find {eq}f'(2){/eq}, where {eq}f(t) = \mathbf{u}(t) \cdot \mathbf{v} (t), \mathbf{u}(2) = \left \langle {2,1,-1} \right \rangle, \mathbf{u}'(2) = \left \langle {6,1,3} \right \rangle{/eq}, and {eq}\mathbf{v}(t) = \left \langle {t,t^2,t^3} \right \rangle{/eq}.
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You are considering an investment in Justus Corporation's stock, which is not publicly traded. You have the following information on the company's financial statements. Assume the firm has no debt or preferred stock----only common stock outstanding. What is the best estimate of the firm's WACC? JUSTUS COR...
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Assume the firm has $200,000 of debt @ 10% and the tax rate is zero. Find the firm value using APV method. Assume that the firm has no debt. The cashflows are received at the end of each year and are perpetual. Cost of equity capital for an unlevered firm, r0, is 20%. The first cash-flow will be received one year from...
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A firm has a capital structure of 40% debt and 60% equity. Its before-tax cost of debt is 8% and its tax rate is 25%. The company currently pays a dividend of $2.00, with a beta of 0.75. Assuming the company pays a constant dividend, and its stock price is $25.00, then the cost of equity to this firm is _____. A. 6.67...
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Monopolistic competitors do not enjoy the _ _ _ _ _ _ _ demand of perfect competition. As a result, firms will never produce at _ _ _ _ _ _ _ _ average total cost. a. relatively elastic; maximum b. perfectly elastic; minimum c. relatively elastic; maximum d. relatively elastic; minimum e. perfectly inelastic; mini...
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Sproles, Inc. plans to retain and invest any earnings not paid as dividends. The firm wants to maintain a growth rate of 6% and has a dividend payout ratio of 40%. If the firm's expected earnings are $2 per share, what is the required rate of return for Sproles stock? a. 11.7% b. 6.0% c. 8.3% d. 14.0%
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FVA Inc.'s net income for the most recent year was $17,590. The tax rate was 34%. The firm paid $4,150 in total interest expense and deducted $5,820 in depreciation expense. What was FVA s cash coverage ratio for the year?
8.82
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Jumble Company common stock is currently selling on a "long-term basis" for $65 a share. Dividends are expected to continue to grow at a rate of 6.6 percent forever. The firm just paid a dividend of $3.24 per share. What is the required rate of return on this stock?
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In a one-time-only special order, variable manufacturing costs are irrelevant. A. True B. False
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In the past year, the accounting department of a company had the following expenses: utilities: $12,000; annual depreciation of $13,000; sales salaries: $34,000; wages: $26,000; indirect materials: $21,000; operating expenses: $25,000; property tax: $19,000; indirect labor: $29,000; and interest: $17,000. In addition, ...
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RiverRocks, whose WACC is 11.7%, is considering an acquisition of Raft Adventures (whose WACC is 15.1%). What is the appropriate discount rate for RiverRocks to use to evaluate the acquisition?
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Vega Electronics' accounting records provided the data shown below. Net income$120,000 Depreciation expense25,000 Increase in inventory12,000 Decrease in accounts payable2,500 The company's income tax rate is 30%. Required: Prepare a reconciliation of net income to net cash flows from operating activities.
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The circular flow model of a mixed economy shows A)only how firms and households interact. B)the physical flow and monetary flow between households and firms in both the product and factor markets. C) how government interacts with households and firms in the product and factor markets. D)how taxes and profits are ...
B
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If a company increases its order size for inventory, which of the following is true? a. Total carrying costs will initially increase while ordering costs will continue to decrease. b. Total carrying costs will decrease while ordering costs will increase. c. Total carrying costs will initially decrease while ordering...
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Below are listed six different scenarios and six different prices for tickets for movies. 300 college students will attend a movie at any price below $9. At $9, no one will attend. No one will attend if the price is above $16. The 300 students will not attend if the price is $16. 1000 senior citizens will attend a mov...
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The dividend on Simple Motors common stock will be $3 in 1 year, $4.25 in 2 years, and $6.00 in 3 years. You can sell the stock for $100 in 3 years. If you require a 12% return on your investment, how much would you be willing to pay for a share of this stock today? A) $75.45 B) $77.24 C) $81.52 D) $85.66 E) $91.3...
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Assume the following three market segments with their respective price elasticities: A (elastic), B (inelastic), and C (unit elastic). A firm with a monopoly in the three markets decides to raise prices in all three markets. The firm's total revenues will: a. rise in market A, rise in market B, and not change in marke...
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What is the maximum profit for the following demand equation P=25-Q and cost function TC=1/3Q^3-1/2Q^2+5Q+10?
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When Ford executives' bonuses were tied to improving customer satisfaction more quickly than its rivals in the industry, based on consumer surveys and other data, they were practicing: A) pay incentives. B) strategic compensation. C) internal equity. D) external equity.
B
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Find the exact arc length of the curve y = (16 - x^(3/2))^(2/3) from x = 1 to x = 2.
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In a complete sentence, explain why it makes sense that the limit of {eq}\frac{x^2+y^2}{x+y} {/eq} along the path {eq}x+y=k {/eq}, where k is a constant does not depend on the particular value of k.
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Evaluate the integral. {eq}\int_{-\infty }^{10}e^{\left | x \right |}dx{/eq} a) If the integral does not exist, type DNE.
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Alton Company purchases its inventory from a variety of suppliers and has a favorable credit standing with each supplier. Alton plans its annual budget for January to December based on sales forecasts on a monthly basis. To smooth out its cash flow, Alton pays 25% of its purchases during the month of purchase and 75% i...
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Meyer Company sells inventory to its parent, Rainier Company, at a profit during 2013. 40% of the inventory is sold by Rainier in 2013. In the consolidation worksheet in 2013, which of the following choices would be a debit to eliminate the inter-entity transfer of inventory? Debit Credit A. Cost of Goods Sold B....
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The following labor standards have been established for a particular product: Standard labor hours per unit of output 1.5 hours Standard labor rate $17.55 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 5,300 ho...
A
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If payroll taxes are decreased, there will be a: A. leftward shift of the labor supply curve. B. rightward shift of the labor supply curve. C. movement up the labor supply curve to the right. D. movement down the labor supply curve to the left.
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Determine the sample size needed to be 95 percent confident that the proportion of samples that can be included in the program is estimated to within 0.05 of the population proportion if no sample is available to provide an estimate for p̂, use 0.10 as an approximation for p̂.
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Which type of culture is fast-paced, competitive and high risk and is typically found in rapidly changing environments with short product cycles? A) Baseball team culture B) Club team culture C) Academy team culture D) Fortress team culture
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From a defensive perspective, which of the following statements is correct? a. A firm that has a favorable strategic position and that does not want to be acquired should always attempt to make itself even more attractive to investors than its rivals. b. A firm that is the low-cost producer in an industry should alwa...
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If $x\le 0$, then $\log x$ is defined as: a) $-\log(-x)$ b) $(-1/x)$ c) $x\log(-1)$ d) $(1/x)$
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A consumer has a utility function for cable movies given by the following function: U = 18X - 2X{eq}^{3/2} {/eq}, for X ≤ 36 where X is the number of cable movies viewed per month and U is measured in dollars. Imagine that the cable company is trying to boost sales. It offers this consumer the following alternative t...
J
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It is possible that in a particular period: a. the direct material price variance will be favorable and the direct material quantity variance will be unfavorable. b. both the direct material price and direct material quantity variances will be unfavorable. c. both the direct labor efficiency and direct labor rate va...
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Which of the following is true? a. Overhead costs are often affected by many issues and are frequently too complex to be explained by any one factor. b. The departmental overhead rate is not usually based on measures closely related to production volume. c. The departmental overhead rate is most accurate in assignin...
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What is the pH when 49 mL of 0.1 M NaOH is added to 1 L of a solution that is 1.0 M in NaHCO3 and 1.0 M in Na2CO3?
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If other factors are equal, an increase in the value of {eq}r {/eq} will tend to a. decrease the value of the treasury bill futures price. b. have no effect on the value of the treasury bill futures price. c. increase the value of the treasury bill futures price. d. decrease the value of the treasury bill futures ...
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Hank's Fashions, Inc. is a merchandising company that reported the following information based on its recent period of operation: Compute the company's cash flows from operating activities using the indirect method.
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When an economy goes into recession, firms decrease output before they start laying off workers. When the economy starts to recover, firms increase output before they start rehiring workers. This behavior makes labor productivity: a. remain constant when recession starts and then rise when recovery starts. b. rise wh...
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Solve the problem by using power series. y'' - x y' - y =0, y(0) = 3, y'(0) = -3
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Harris Corporation's 2013 net income was $200,000. Included on the income statement were depreciation expense of $40,000 and amortization of bond discount of $5,000. In addition, during the year the corporation had a loss of $4,000 due to an insurance settlement. During 2013, Harris Corporation declared and paid divid...
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The range of a set of numbers is a) the most frequent value. b) the difference between the highest and the lowest value. c) the average of the highest and lowest value. d) the arithmetic mean of the deviations from the mean.
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In a binomial experiment with n = 300, p = .5, find the probability that P is less than 55%.
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Your investment club has only two stocks in its portfolio, $20,000 is invested in a stock with a beta of 0.7, and $35,000 is invested in a stock with a beta of 1.3. What is the portfolio's beta? a. 0.809 b. 0.895 c. 1.18 d. 1.25 e. 1.32
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Contour Integral of $\frac{1}{z} dz$ for any contour in the right half-plane from $z=-3i$ to $z=3i$. How should I do this?
$\pi i$
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The region between the curve y = 3/x and the x-axis from x = 1 to x = b is revolved about the x-axis to form a solid. Find the value of b so that the volume of the solid is equal to 3pi cubic units.
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Determine the critical value for a left-tailed test regarding a population proportion at the {eq}\alpha{/eq} = 0.05 level of significance.
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How many subjects must be tested to ensure that the estimate has an error of at most 0.1 at the 95% confidence level, given a standard deviation of 3?
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Data for Schimdt Company is presented in the following table. Determine the minimum rate of return. Invested Asset Minimum Acceptable Income from Operations Residual Income $570,000 $62,700 $28,500
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If the federal government of the United States reduced personal income taxes, what would happen in the United States? a. The demand for U.S. dollars would decrease in foreign exchange markets. b. The supply of U.S. dollars would increase in foreign exchange markets. c. The demand for U.S. exports would decrease. d....
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Project K costs $50,000, its expected cash inflows are $12,000 per year for 8 years, and its WACC is 12%. What is the project's discounted payback?
6.12 years
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Suppose you have been assigned to estimate a population proportion. For the given margin of error and confidence level, determine the sample size recommended by formulas 8.1 and 8.2. Compare the results. If the conditions for using the large-sample margin of error formulas are not met, you may need to use the one-propo...
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Determine if the correction factor should be used. If so, use it in your calculations when you find the probability. In a sample of 700 gas stations, the mean price for regular gasoline at the pump was $2.829 per gallon and the standard deviation was $0.008 per gallon. A sample of size 45 is drawn from this population...
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Suppose there is an increase in the number of firms in the market for rosebushes. ceteris paribus, this change in the market would: a. increase the equilibrium price and decrease the equilibrium quantity in the market for rosebushes. b. decrease the equilibrium price and increase the equilibrium quantity in the marke...
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Which of the following statements is true of monopolistic competition? A) In the long run, firms will make positive economic profits. B) It is always the case that, for any firm, price is greater than marginal cost. C) It is always the case that, for any firm, price is greater than average cost. D) Firms will make ...
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Company A has negative cash flow from operations for the year. Which of the following is true about its free cash flow? a) free cash flow must also be negative b) free cash flow may be negative, but it could be positive as well c) free cash flow must be positive d) free cash flow cannot be determined without additi...
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Project A has a construction cost of $200,200 and an annual maintenance cost of $1.5 Million. Project B has a construction cost of $275,000 and an annual maintenance cost of $1.2 Million. If both projects are expected to last forever and the interest rate is 12 %, what is the capitalized cost of the project that shou...
$10,275,000
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What is the probability that 28 batteries randomly selected from a stock of 1,000 batteries, where 200 are defective, will include 8 or fewer defective batteries?
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