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Sennick Company uses the perpetual inventory method and engaged in the following transactions: · Purchased $90,000 of merchandise on account under terms 2/10, n/30. · Returned $14,000 of merchandise to the supplier before payment was made. · Paid the account payable within the discount period. · Sold the merchandis...
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When is driver tracing used? a. When the resource is shared by more than one activity. b. When the resource is exclusive to the activity. c. When the resource is a labor resource. d. All of these choices are correct.
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A company that makes organic fertilizer has supplied the following data: Bags produced and sold240,000 Sales revenue$1,896,000 Variable manufacturing expense$804,000 Fixed manufacturing expense$520,000 Variable selling and administrative expense$180,000 Fixed selling and administrative expense$270,000 Net operating i...
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Let X_1, ..., X_n denote a random sample from the distribution with the following pdf: f(x|θ)= θ x^{θ-1}, 0<x<1, 0<θ<∞. Consider the hypothesis test H_0: θ ≤ 2 against H_1: θ >2 and let T= -2nln(X_{(1)}) be the test statistic, where X_{(1)} = min(X_i), 1 ≤ i ≤ n. If the critical region is TC = {T : T ≥ k}, then find k ...
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Which of the following would cause both the short-run aggregate supply curve and the aggregate demand curve to shift to the right? a. a technological advance b. a decrease in the price level c. an increase in the money supply d. an increase in interest rates
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A small 12.0 g bug stands at one end of a thin uniform bar that is initially at rest on a smooth horizontal table. The other end of the bar pivots about a nail driven into the table and can rotate freely, without friction. The bar has mass 70.0 g and is 120 cm in length. The bug jumps off in the horizontal direction, p...
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The ABC Company uses the perpetual inventory method. The following information was obtained from the inventory, purchases, and sales of merchandise at ABC Company: Date Item Quantity Unit Price Unit Cost 1/1 Beginning Inventory 30 $2.00 $2.40 1/12 Purchases 60 $2.10 $2.52 1/26 Purchases 50 $2.20 $2.64 1/31 Sales 8...
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For a binomial experiment, how many possible outcomes can be observed for a sample of size n = 4? a. 4 b. 16 c. 5 d. 12
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A fair coin is tossed 10,000 times. Find a number m such that the chance of the number of heads being between 5,000 − m and 5,000 + m is approximately 2/3.
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You purchased a zero-coupon bond one year ago for $369.67. The market interest rate is now 7.2 percent. If the bond had 15 years to maturity when you originally purchased it, what was your total return for the past year?
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Mendez Corporation issues 2,000 ten-year, 8%, $1,000 bonds dated January 1, 2007, at 103. The journal entry to record the issuance will show a: a. debit to Cash of $2,000,000 b. debit to Premium on Bonds Payable for $60,000 c. credit to Bonds Payable for $2,000,000 d. credit to Cash for $2,060,000
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Given that $n$ is a positive integer and $$\lim _{x\to \infty }\left(\dfrac {x^n}{x!}\right)=0,$$ determine the smallest value of $n$ for which $$\lim _{x\to \infty }\left(\dfrac {x^n}{x!}\right)$$ is guaranteed to be less than $10^{-6}$ for all $x$.
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A two-year discount bond with face value $1,000 and price $950 has a yield of __________. a. 5.26% b. 950% c. 5.00% d. 100%
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Sedgewick Company manufactures two types of office chairs, Mod. X and Mod. Y. It estimates the following results for next year. Mod X Mod Y Sales Revenue $450,000 $550,000 Variable Expenses $150,000 $250,000 Sedgewick's fixed expenses for next year total $200,000. If...
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Suppose 63% of the students in a university are baseball players. If a sample of 916 students is selected, what is the probability that the sample proportion of baseball players will be less than 66%?
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Year after year ABC reports a net income of $50,000. The interest paid during the year is $10,000 and depreciation expense is $15,000. Compute the times interest ratio.
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In 4 years, Jose will need $6,000 in cash to pay off a debt. A local bank offers a certificate of deposit (CD) that yields 7.5% compounded quarterly. If he earns 8% per year compounded monthly on his investments, find the amount that he should invest today to fund his debt.
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A long hedge is not appropriate if: a) the price of the asset being hedged is expected to be very volatile in the future b) the duration of the hedging transaction is short c) the futures price tends to be higher than the spot price d) hedgers are concerned with the absolute value of the price, rather than its chan...
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Assume that you are trying to value a firm that has current profits of $1,200,000. Assume that the opportunity cost of funds is 6% and the constant profit growth rate is 1.5%. What is the present value of the firm?
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Convert the integral to polar coordinates and then evaluate it. The integral is $\int_{0}^{\frac{1}{2}} \int_{\frac{1}{2}}^{1} 2xy dxdy$. My work is as follows: $\int_{0}^{\frac{1}{2}} \int_{\frac{1}{2}}^{1} 2xy dxdy = \int_{\frac{\pi}{4}}^{\frac{\pi}{3}} \int_{\frac{1}{2}}^{1} r^2 \cos\theta \sin \theta drd\theta = \i...
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The Long Line company is considering a project which will produce cash inflows of $10,000 a year for 5 years followed by $15,000 a year for 4 years. What is the internal rate of return if the initial cost of the project is $55,000? A) 10.16% B) 12.54% C) 13.05% D) 15.78% E) 11.87%
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A flux integral is asked to be computed over a surface with boundary curve $C$ (which is traversed anticlockwise). The direction normal to the surface is chosen so as to be consistent with the right hand rule. Which of the following is false? a) The direction normal to the surface is anti-clockwise along the surface. ...
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A coupon bond that matures in 2 years sells for $960.89. It has a face value of $1,000 and a yield to maturity of 5%. The bond pays coupons semiannually. The bond's current yield is closest to: A. 6.56%. B. 13.12%. C. 13.59%. D. 6.38%.
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Use differentials to approximate the change in price when the quantity supplied is increased from 10000 units to 10500.
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Pluto, Inc. began the current year with a balance in the Accounts Receivable account of $225,000. During the year, the company recorded credit sales of $5,600,000 and collected cash from credit customers in the amount of $5,100,000. What was the company's accounts receivable balance at the end of the current year?
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Answer the following question based on the accompanying cost ratios for two products, fish (F) and chicken (C), in the countries of Singsong and Harmony. You may assume that production occurs under conditions of constant costs and that these are the only two nations in the world. Cost ratios: Singsong: 1 F = 2 C: Harmo...
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Suppose that U.S. workers are more productive than British workers in the production of all goods and services, but there are barriers to capital and technology moving from the U.S. to Great Britain. Because of this, the long-run real wage of British workers will a. increase, and the real GDP per capita of Great Brit...
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Suppose the U.S. one-year interest rate is {eq}4\%, {/eq} the U.K. one-year interest rate is {eq}1\%, {/eq} and the one-year forward exchange rate of pounds per dollar is {eq}0.520. {/eq} What must one-year spot exchange rate be if IRP holds?
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Dixon Corporation was incorporated on January 1, 1995. The corporation made its S election on April 1, 1998. The corporation retains an E&P balance from its C corporation days. Which one of the following current year income and expense items is not included in Dixon Corporation's Accumulated Adjustments Account? a. Or...
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Assume the consumption function is C = 100 + 0.5 YD. If Y is 2,000 and T is 500, then C equals: A. 2,050 B. 1,000 C. 1,550 D. 950
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A common stock has a dividend yield of 7% and the current stock price is $54 per share. The risk free rate is 5% and the market risk premium is 7%. If the stock has a beta of 1.3 then what is its expected return? (Note: this stock has a flotation cost associated with its issuance but it is not given so you must not inc...
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Company uses a perpetual inventory system and engaged in the following transactions: Dec. 7 Purchased $98,000 of merchandise on account under terms 1/15, n/45. Dec. 9 Returned $2,500 of the merchandise purchased on Dec. 7. Dec. 15 Paid the full amount due on the mer...
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The x and y components of a velocity field are given by {eq}u=x^{2}y {/eq} and {eq}v=-xy^{2} {/eq}. Determine the equation for the streamlines of this flow.
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If the government gives firms a temporary investment tax credit: a. firm will invest now rather than in the future. b. it will increase {eq}\bar a_1 {/eq} c. it will increase {eq}\bar a {/eq} d. All of these answers are correct. e. None of these answers are correct.
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Gibson Company purchased a machine for $100,000 on January 1, 2014. Its salvage value was estimated to be $8,000. The machine was expected to be used for 8,000 hours. During 2014, the machine was used for 1,500 hours. In 2015, the machine was used for 1,200 hours. The machine's 2015 depreciation expense based on the u...
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If point A has coordinates (x, y) and point B has coordinates (x, y + 1), then (AB) equals what?
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A company had the following inventory balances at the beginning and end of the year: Beginning of the Year End of the Year Direct materials $145,000 $178,000 Work in process $181,000 $124,000 Finished goods $134,000 $249,000 The company's current manufacturing overhead account contained debit postings totaling $773,...
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In a diamagnetic material the magnetic permeability is {eq}\mu=1.0000005{/eq}. A magnetic field {eq}B=1.00 \ T {/eq} is applied to the material. The magnetization vector M in the material is A) 0 B) $0.5 * 10^{-6} \ T$ C) $- 0.5 * 10^{-6} \ T$ D) $1.00 \ T$
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In the Crane Company, indirect labor is budgeted for $83,000, and factory supervision is budgeted for $37,000 at a normal capacity of 123,000 direct labor hours. If 143,000 direct labor hours are worked, what is the flexible budget total for these costs?
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Wilson Wonders bonds have 12 years remaining to maturity. Interest is paid annually; the bonds have a $1,000 par value and the coupon interest rate is 10%. The bonds sell at a price of $850. What is their yield to maturity?
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Compute the first five terms of the sequence defined by the formula $$a_n = \frac{2^{n+1}+(-1)^{2n}}{2^n-1}$$ and write them in the order $a_1,a_2,a_3,a_4,a_5$. Enter the exact answers.
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Harbinger Corporation manufactures bookshelves and is planning to repurchase part of its common stock by issuing corporate bonds. As a result, the firm's debt-equity ratio is expected to rise from 25% to 30%. The firm currently has $10 million worth of debt outstanding, its tax rate is 35%, and its current cost of debt...
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Find the present worth of $1,000,000 annual end-of-period cash flows for 15 years at 6% interest compounded semiannually. a) $1,234,218 b) $1,294,093 c) $1,141,985 d) $2,940,897
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A corporate investment banking firm has just sold $50 million of 10-year convertible preferred stock at a 2% discount to par. This is the type of effort for which the firm is best known. The investment banking firm's _____ strategy gives it a competitive advantage over its rivals in the investment banking business tha...
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Ryka's has a preferred stock outstanding that pays a dividend of $6.00 at the end of each year. The preferred stock sells for $40.00 per share. What is the rate of return for this stock?
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Which of the following statements about indifference curves is not true? a. Every indifference curve intersects the consumer's budget line at least once. b. Indifference curves slope downward. c. Indifference curves do not intersect. d. The consumer is indifferent among the combinations illustrated along a given cu...
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Scribble Inc. had 400,000 shares of common stock and 40,000 shares of 2% convertible preferred stock outstanding for the entire year. Each share of preferred stock is convertible into 2.5 shares of common stock. In addition, during the year, the company had 200,000 convertible bonds outstanding. Each bond is convertibl...
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What price should I charge if the demand elasticity has increased from -2 to -3, for a product I am currently charging $10 for, and why? Suppose the number of firms you compete with has recently increased. You estimated that, as a result of the increased competition, the demand elasticity has increased from -2 to -3, i...
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Using the following information for Mark, Inc. determine cost of goods sold. Purchases of direct materials $80,000 Direct labor 120,000 Factory overhead 280,000 Selling and administrative expenses 160,000 Finished goods inventory at end of year 85,000 Work in process inventory at end of year 30,000 Finished good...
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A metal rod of cross sectional area A has length L and coefficient of linear expansion alpha. The rod is fixed at both ends. If its temperature is increased by Delta T , the energy stored in the rod is?
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Suppose a reaction has the following two-step mechanism: Reaction 1: {eq}A \rightarrow 2B {/eq}, rate constant k1 = 0.063 M {eq}^{-1} {/eq}s{eq}^{-1} {/eq} Reaction 2: B + C {eq}\rightarrow {/eq} products, rate constant k2 = 1.8 M{eq}^{-2} {/eq}s{eq}^{-1} {/eq} What is the overall order of the reaction?
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In the time-driven model of leadership, which style is reserved for circumstances in which employees have strong teamwork skills and are not likely to just commit to whatever decision the leader makes? A. Consultative B. Autocratic C. Delegative D. Facilitative E. Negotiative
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Suppose you buy a 7% coupon, 5-year maturity bond for $986.98. A year later, the bond's yield to maturity is 8%. What is your holding period return?
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Find the pH of the solution at the equivalence point when 25.0 mL of 0.100 M HCl are titrated with 0.100 M NaOH.
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A machine costs $20,000; it is expected to generate annual cash revenues of $8,000 and annual cash expenses of $3,000 for 6 years. The required rate of return is 14%. The net present value of this machine would be closest to: a. $1,612 b. $5,286 c. $2,876 d. $8,164
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I am looking for a reference about the calculation of $$ \frac{d}{dx} \int f(x,t) dt $$ where $t$ is a parameter and the integral is on the real line. Specifically, I want to calculate $\frac{d}{dx} \int_{-\infty}^{\infty} \frac{e^{-\frac{1}{2}(x-t)^2}}{\sqrt{2\pi}} e^{itx} dt$ for $x \in \mathbb{R}$. I know that it sh...
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Goodyear and the Weather. Goodyear stock was selling for about $26 per share before the microbrew earnings announcement. The microbrew announcement caused Goodyear stock price to change by the same amount as described in the table. An analyst follows up with a report on Goodyear. He or she states that, after the announ...
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In refrigeration, why is the refrigerant chosen to have a low value of Cp at the condensing temperature and a high value at the evaporation temperature? How does this affect the value of qh and qL in the equation Coefficient of performance = qL / (qh - qL)?
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If two coatings with different indices of refraction are applied to the lens, where the index of the first (the one closest to the lens) is higher than the index of the second, what would be the case regarding thin-film interference for wavelengths longer than the maximum for which constructive interference is possible...
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Assume the following information for Nascar Motors: AprilMay Beginning inventory050 Production500450 Sales450470 Variable costs: Manufacturing costs per unit produced$11,500$11,500 Operating (marketing) costs per unit sold$3,600$3,600 Fixed costs: Manufacturing costs$2,200,000$2,200,000 Operating (marketing) co...
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A utility company in a town generates power at 10 kV and distributes it to residential subscribers through 400 house holders each drawing an average power of 1.5 kW. Distribution lines have a resistance of 10 ohms. What is the power lost in the distribution lines? What is the power loss if the voltage is increased to 5...
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Machine A costs $100,000 and will be kept for 5 years. Machine B costs $150,000 and will be kept for 10 years. The profits from A are $30,000 in year 1 and increase by 5% per year. The profits from B are $30,000 in year 1 and increase by 10% per year. The salvage value of A is 20% of the original investment cost. The s...
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Linke Motors has a beta of 1.30, the T-bill rate is 3.00%, and the T-bond rate is 6.5%. The annual return on the stock market during the past 3 years was 15.00%, but investors expect the annual future stock market return to be 13.00%. Based on the SML, what is the firm's required return?
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If C is the z-axis from the origin to the point (0,0,12), then the integral over C of (-5j-5k) × dr = ?
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Kelly Company had gross sales of $3,601,200 and operating expenses of $675,000 (including $67,500 of depreciation). Accounts payable decreased $135,600 and retained earnings increased $698,300. If net cash flow from operating activities was $2,557,500, how much was the firm's cost of goods sold?
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Using a 0.17 M acetate buffer with a pH of 4.2, you add 0.82 mL of 0.12 M NaOH to 73 mL of the buffer. What is the new pH of the solution? (Enter your answer to three significant figures.)
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In a binomial tree with 4 periods, what is the number of end nodes (leaves) ?
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Find the radius of convergence for $\sum_{n=1}^\infty z^{n!}$ and prove it.
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Below is selected information from the February 2016 financial records of Vega Company: Depreciation expense $3,000 Decrease in inventory 5,000 Increase in cash 6,000 Increase in accounts receivable 2,500 Dividends 2,000 Increase in accounts payable 1,500 Loss on sale of land 3,500 Increase in treasury stock 1,000 Us...
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Consider the following journal entries: Debit Credit A. Manufacturing Overhead3,500 Work in Process1,300 Manufacturing Overhead2,200 B. Manufacturing Overhead1,500 Work in Process1,500 C. Work in Process2,000 Manufacturing Overhead1,650 D. Manufacturing Overhead2,000 Work in Process2,000 Which of the above j...
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Wildhorse Company exchanged 300 shares of $10 par value common stock with an estimated fair value of $32,500 for one of their vehicles that had a cost of $35,000 and an accumulated depreciation of $3,000. A $2,500 boot was paid by Wildhorse Company. The vehicle would be recorded at: a. $29,500 b. $26,000 c. $35,000 ...
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Given the following data for Laramie Trucking. CostRetail Inventory, Jan.1$450,000$500,000 Purchases$3,240,000$5,400,000 Freight-in$150,000 Net Sales$5,425,000 Net markups-$100,000 Net markdowns$160,000 Calculate the ending inventory using the retail inventory method under the average cost assumption.
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Margaret purchased an investment that offered a substantial tax deferral. The investment allows her to defer $100,000 for a six-year period if the after-tax rate of return on the investment is 10%. What is the future value of the deferred tax benefit? a. $106,000 b. $125,660 c. $133,820 d. $177,156
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Suppose that the demand for rough laborers is {eq}L_D {/eq} = 100 - 10W, where W = the wage in dollars per hour and L = the number of workers. If immigration increases the number of rough laborers hired from 50 to 60, by how much will the short-run profits of employers in this market change?
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Charles Industries has the following inventory data: - Jan. 1: Beginning inventory of 20 units at {eq}\$64 {/eq} each - Jan. 10: Purchased 40 units at {eq}\$74 {/eq} each - Jan. 21: Purchased 35 units at {eq}\$81 {/eq} each - Jan. 30: Purchased 15 units at {eq}\$85 {/eq} each A physical count of inventory on J...
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Which of the following statements is most correct? A. If a project's WACC is used to discount cash flows, the project might be accepted even if the project's IRR is less than its WACC. B. If a project's WACC is used to discount cash flows, the project's IRR can never be less than the WACC. C. The regular payback per...
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Assume that today is December 31, 2017, and that the following information applies to Verizon: After-tax operating income [EBIT(1 - T)] for 2017 is expected to be $5,400 million. The depreciation expense for 2017 is expected to be $700 million. The capital expenditures for 2017 are expected to be $1,450 million. No...
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Xytex products paid a dividend of $1.45 per share, and the stock currently sells for $41. If the discount rate is 11%, what is the dividend growth rate?
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A charge of #3 C# is at the origin. How much energy would be applied to or released from a # -2 C# charge if it is moved from # ( 3 , 6 ) # to #( -3 , 5) #?
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My answer: (C) Can you explain the difference between a regression model that is a good fit and a regression model that is not a good fit? a. A regression model that is a good fit has a high R squared, while a regression model that is not a good fit has a low R squared. b. A regression model that is a good fit does n...
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The Two Sisters has a 9% ROA and a 75% retention or plowback ratio. The ROE is 12%. At what rate can the firm grow its assets without the need for any external capital? a) 6.50% b) 6.75% c) 6.97% d) 7.24% e) 7.38%
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Find the domain of the vector-valued function {eq}r(u, v) = u^2 i + v^2 j + (u^2 - v^2) k{/eq}
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A firm has a beta of 1.4, the expected return on the market is 10.5%, and the risk-free rate is 4.5%. What is the firm's cost of equity?
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There is a tendency for home prices to decrease after the introduction of a new golf course nearby. This finding is most likely due to: A. the age of the house in the regression analysis. B. omitted variable bias due to unobserved factors that affect the value of the house and the distance to the golf course. C. the...
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The total value of all the inputs used in production is: a. the net product, b. implicit cost, c. the gross product, d. explicit cost, e. the total revenue.
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If the sales volume is represented by S, the volume of production by V, and the volume of sales returns by R, which of the following is the correct statement of the working capital management constraint?
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Use the ratio test to find the radius of convergence for the following power series: $$\sum_{n=0}^\infty \frac{2^n}{n^k}x^n$$. My calculation yields $\frac{2x}{n}$, and taking the limit as $n\to\infty$, I get 0. What is the error in my calculation?
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The current dividend yield on... The current dividend yield on the stock of the Jensen Company is 4%. The required return on the company's stock is 11%, and its growth rate is 5%. The stock is projected to pay its next dividend of $2.50 in exactly one year. Which of the following is the stock's current price? a. $14....
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Kingston anticipates the purchase of a computer system on June 15, 2010, at which time the system is expected to cost $100,000. On January 1, 2010, it had $50,000 set aside for this purpose. Assuming that a note is signed on June 15, 2010, for the balance, the purchase of the computer would be: a. a financing activity...
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Data about a firm in 2015: Net Sales $1,000 Accounts receivable 150 Inventory 600 Accounts payable 300 Cost of goods sold 550 Administrative expenses 100 Depreciation expense 60 Interest expense 50 Gain on sale of investment 20 Cash dividend 5 Tax rate 40% Calculate the firm's interest coverage ratio for 2015. a. 2....
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If the number of arrivals per minute at a bank follows a Poisson distribution with mean 3, what is the probability that more than 4 customers arrive in a minute?
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During 2013, Wildhorse Corporation constructed and manufactured certain assets and incurred the following interest costs in connection with those activities. Interest costs incurred: - Warehouse constructed for Wildhorse's own use: $34,410 - Special-order machine for sale to an unrelated customer, produced according...
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The present value of $15,000 to be received at the end of each of 20 periods, discounted at 5% compound interest, is (Select one): A. $161,362 B. $171,400 C. $160,469 D. $134,633
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A company's preferred stock pays a dividend of $1.50 each quarter. The price of this stock is $70 per share. The expected dividend growth rate is a constant 5%. What is the expected rate of return on the preferred stock?
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The following information was drawn from the accounting records of Smith Company: Static Budget Flexible Budget Actual Results Sales $10,000 $12,000 $12,700 Cost of Goods Sold (6,000) (7,200) (6,900) Gross Margin 4,000 4,800 5,800 Variable Cost (2,000) (2,400) (2,600) Fixed Cost (1,000) (1,000) (1,300) Net Incom...
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The shareholders' equity section of the Jensen Corporation's most recent balance sheet appears below: Additional paid in capital - common stock $ 5,000,000 Retained earnings 2,500,000 Total $ 7,500,000 Common stock, par $1 $15,000,000 Preferred stock, par $25 $2,500,000 Total stockholders' equity $20,000,0...
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For the following reaction determine the value of x in the rate law: {eq}Rate = \dfrac{d |F|}{dt} = k[D]^m {/eq} Reaction: {eq}D \to F + 2G {/eq} Experiment [D]0 t1/2 1 1.0 4.0 min 2 2.0 2.1 min
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How many years will it take for $1,000,000 to grow to $2,000,000 at 5% interest, compounded annually? Round your answer to two decimal places.
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We wish to borrow $1000 from a bank. Bank A will charge us 10% interest compounded annually. Bank B will charge us 8% compounded monthly. Bank C will charge us 12% compounded daily. Which bank offers the lowest overall interest rate for the dollar we end up repaying? A) They are all equal. B) Bank A C) Bank B D) Ba...
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We have two independent small samples with these statistics: Sample 1: sample size = 15, sample mean = 200, sample standard deviation = 41.2. Sample 2: sample size = 17, sample mean = 205, sample standard deviation = 49.7. We want to test if the mean of population 1 is less than the mean of population 2 at the 10% si...
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