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According to economists, diversity reduces: a. economic instability. b. problem solving effectiveness. c. cultural enrichment. d. innovation.
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A house has an outside temperature of Tc = - 10.0°C. During a certain winter day, the temperature inside the house is Ti = 17.0°C. The area of the windows is 4.00 m2, and the area of the walls is 9.00 m2. (There are no doors in the room.) The average coefficient of thermal conductivity of the windows is k1 = 0.800 W/m ...
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Lasley Inc. had a bad year in 2012. Net income for the year was $62,500. In addition, the company reported depreciation expense of $31,500, a rise in accounts receivable of $15,000, and a decline in accounts payable of $23,000. What was the firm's cash flow from operating activities?
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JH Manufacturing, Inc. common stock is selling for $28 per share and the firm recently paid its semi-annual dividend of $1.20 per share. The market requires a return of 15% on JH common stock. What is the dividend growth rate expected by the market?
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Sunset Acres reported a net income of $50.3 million. Included in that number was trademark amortization expense of $3.5 million and a gain on the sale of land of $1.9 million. Records reveal decreases in accounts receivable, accounts payable, and inventory of $1.6 million, $2.3 million, and $3.2 million, respectively. ...
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An infinitely long cylindrical conducting shell of inner radius {eq}R_i {/eq} = 9.6 cm and outer radius {eq}R_o {/eq} = 10.6 cm has a uniform surface charge density {eq}\sigma {/eq} = 7.25 micro Coulombs/m{eq}^2 {/eq}. What is the magnitude of the electric field at a radius r = 11.6 cm from the axis of the cylindr...
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The current supplied by a battery slowly decreases as the battery runs down. Suppose that the current as a function of time is {eq}I = 0.55 e^{-\dfrac t 6} {/eq}, where {eq}t {/eq} is in hours and {eq}I {/eq} in amps. What is the total charge leaving the battery from the time the battery is first used until it is c...
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A sample of 25 is selected from a normal population with a mean of 105 and a standard deviation of 12. Determine the probability that the sample mean deviates from the population mean by no more than 4.
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I am having trouble evaluating this limit: $$\lim _{x\to \infty }\:\frac{\log _{10}\left(x^n\right)}{\log _{10}\left(10^x\right)}$$ I can't use L'Hopital's rule because we haven't covered derivatives yet. I know that $\log _{10}\left(10^x\right)$ is just $x$ and that $\log _{10}\left(x^n\right)=n\log _{10}\left(x\right...
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During a recent period, direct materials costs for a manufacturer totaled $220,000. Direct materials price variance was $20,000 unfavorable, and direct materials quantity variance was $16,000 favorable. What is the standard cost for direct materials? a. $236,000 b. $214,000 c. $228,000 d. $204,000
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Spear and Sweet Corp has sales of $292,000, depreciation of $41,200, interest expense of $45,800, costs of $110,600, and taxes of $13,296. What is the operating cash flow for the year? A. $118,854 B. $118,400 C. $133,456 D. $141,960 E. $155,200
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Calculate the free cash flow for 2014 for First Run Video, Inc. based on the following financial information. Assume that all current liabilities are non-interest-bearing liabilities and that no fixed assets were sold or disposed of during 2014. Income statement: Sales = 1100 Cost of sales = 800 Operating expenses = 10...
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First-generation antipsychotic drugs: (Select all that apply) a. are effective in the treatment of the positive symptoms of schizophrenia. b. are effective in the treatment of the negative symptoms of schizophrenia. c. have a lower risk of inducing akathisia than other classes of antipsychotic drugs. d. have a lowe...
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Which of the following is not one of the three factors that determine market return? a. abnormal returns b. beta coefficient c. standard deviation d. Risk-Free Return
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Edward E. White Enterprises operates three divisions, with results as follows: Division Sales Variable Expenses Contribution Margin Traceable Fixed Expenses Common Fixed Expenses Florida $160,000 $84,000 $76,000 $56,000 $19,000 Arizona ...
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Davis Company makes a single product and uses a standard costing system that applies overhead on the basis of direct labor cost. For the current year the following data are available: Actual manufacturing overhead $482,500 Manufacturing overhead allocated to production $452,100 Actual total labor cost $566,000 Standa...
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Georgianna claims that the average child in a small city renowned for its music school takes at least 5 years of piano lessons. A random sample of 20 children shows that the mean number of years taking piano lessons is 4.6 with a standard deviation of 2.2 years. In analyzing her claim, what is the appropriate set of hy...
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Suppose the Fed purchases government bonds through open-market operations. If the Fed purchases $1,000 of government bonds, and the reserve ratio is 10%, the money supply can increase by: a. $10,000. b. $1,000. c. more than $10,000. d. less than $10,000.
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Calculate the consumer surplus given the following demand and supply equations: {eq}P_D = -0.05Q + 200, P_S = 10Q - 50 {/eq}.
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The number of equivalent units for materials costs that appear on the cost of production statement is generally the number of: A. Units completed during the period plus the number of units in ending inventory. B. Units completed during the period plus the percentage of completion of units in ending inventory times t...
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Compared to hiring a white worker, an employer is $5 less happy when he hires a black worker and is $6 less happy when he hires a Hispanic worker. The frim faces hourly wage rates of $20 for whites, $16 for blacks, and $14 for Hispanics. Which of the following describes the firm's hiring decision? a. The firm hires al...
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Acme's sales for April and May were $500,000 and $700,000, respectively. Collections on sales are normally 60% in the month of the sale and 40% in the following month. Acme's actual cash collections for May were: a. $320,000 b. $360,000 c. $420,000 d. $480,000 e. None of the other answers is correct.
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Suppose that an investor wishes to produce a portfolio that has an expected return of {eq}\$6\%{/eq}. He has $10,000 to invest and is considering a {eq}100\%{/eq} investment in a risk free asset that has a {eq}4\%{/eq} return or a {eq}100\%{/eq} investment in a market portfolio that has a {eq}12\%{/eq} return. What is ...
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You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on related paperwork and compliance costs. Moreover, depending on the locale, telecom taxes can amount to as much as 25% of a consumer's phone bill. ...
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On March 1, 20XX, Fred Company received a 4-year, 8% note payable from a customer in the amount of $25,000. The note calls for interest to be paid annually on March 1. The proper entry to record the first interest payment on March 1, 20XX would include a debit to interest expense in the amount of _____. a. $1,700 b. ...
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In a sample of 250 students, 20% of them own a cell phone. You are interested in the population proportion of students who own a cell phone. Using the data, estimate the standard error of the sample proportion.
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Which of the following is not a correct comparison between a contractionary fiscal policy in the basic aggregate demand and aggregate supply model and in the dynamic aggregate demand and aggregate supply model? A.In the dynamic model, contractionary policy would be used when demand grows too slowly; in the basic model...
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A company makes organic fertilizer. Its profit for selling x tons of fertilizer is given by P(x) = 50,000 + 200x - 2000. Find the average profit per ton for the first 100 tons of fertilizer sold.
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Use the following information about the current year's operations of a company to calculate the cash paid for merchandise. Cost of goods sold $242,000 Merchandise inventory, January 1 56,400 Merchandise inventory, December 31 59,800 Accounts payable, January 1 56,000 Accounts payable, December 31 62,500
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At the end of 2010, inventory was understated by $20,000. Given this information, which of the following statements is true? A) Retained earnings at the end of 2010 was overstated by $20,000 and net income for 2011 was overstated by $20,000. B) Retained earnings at the end of 2010 was overstated by $20,000 and net i...
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Angler Equipment is planning a stock issue of $5 par value common stock in order to raise $1 million for a new plant to manufacture fishing equipment. If the market price of the stock is $20 and the issuance of the stock is compensated by underwriters at a 5% discount, how many shares of stock must be issued to get the...
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Suppose the price level rises by 2.5 percent and a country's nominal output rises by 3.25 percent. If domestic output rises by 1.25 percent and the quantity of money increases by 1.75 percent, what happens to velocity in the country? a. It falls by 0.5 percent. b. It rises by 0.5 percent. c. It rises by 1.25 percent...
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Assume that net income for 20X6 was $120,000 for Staley, Inc. (Staley) and $30,000 for Segal Corporation (Segal). Staley and Segal had no unrealized gains or losses during 20X6. Staley owns 60% of the common stock of Segal, acquired during 20X4 for $780,000. During 20X6, Segal sold merchandise that cost $20,000 to Stal...
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Westall Company has provided the following information concerning two products for 2014: Sales value at the split-off point Product A $200,000 Product B 100,000 Allocated joint costs 300,000 Additional processing costs Product A 250,000 Product B 225,000 If both products are processed beyond the split-off poi...
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You can buy a $1,000, 8% bond for $800. (The bond pays interest semiannually.) Your annual rate of return on this investment is approximately a. 11% b. 10% c. 9.5% d. 8.5%
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Suppose the Federal Reserve engages in the following open market operation: _____ U.S. government securities in exchange for _____ in the banking system. a. sell; reserves b. sell; loans c. buy; currency d. buy; reserves e. buy; loans
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Which of the following statements is true? a) Plant assets are not involved in producing goods and services. b) Plant assets are always found in the factory. c) The useful life of a plant asset ends when the asset is sold. d) Service life is the length of time a plant asset remains in service before it is sold or t...
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At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $11.4 million. $8.4 million of the purchase price was allocated to the building. Depreciation for 2014 and 2015 was calculated using the straight-line method, a 25-year useful life, and a $1.2 million residual value. In 2016, the estimates of...
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St. Joseph Hospital has been hit with a number of complaints about its food service from patients. These complaints, coupled with a very tight local labor market, have prompted the organization to contact Nationwide Institutional Food Service (NIFS) about the possibility of an outsourcing arrangement. The hospital's bu...
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An increase in the wage rate will cause the consumer to demand more labor if: a. labor and leisure are substitutes. b. labor and leisure are complements. c. leisure is a normal good. d. labor and consumption are substitutes. e. None of the above.
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A company, entering liquidation, has reported assets with a book value of $800,000 and a liquidation value of $600,000. It also has previously unreported customer lists with a fair value of $40,000. Estimated liquidation costs are $30,000. The company's statement of net assets in liquidation reports total assets of? a...
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Calculate the length of the curve {eq}y(x) = 7 + x^{\frac{3}{2}}{/eq} over the range {eq}-1 < x < 8{/eq} by adding up the lengths of small straight segments in the limit as the segments become infinitesimal (that is, by integration).
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Evaluate the surface integral {eq}\int \int_S F \cdot dS{/eq} for the given vector field {eq}F{/eq} and oriented surface {eq}S{/eq}. Find the flux of {eq}F{/eq} across {eq}S{/eq}, where {eq}F(x, y, z) = xz \hat i + x \hat j + y \hat k{/eq} and {eq}S{/eq} is the hemisphere {eq}x^2 + y^2 + z^2 = 49, \ y \geq 0{/eq}, orie...
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A firm has a tax burden ratio of 0.50, a leverage ratio of 1.60, an interest coverage ratio of 3.20, and a profit margin of 0.30. The firm just paid $1.3 million in interest and $250,000 in preferred stock dividends. What's the firm's EPS? a. $375,000 b. $325,000 c. $300,000 d. $280,000
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The time intervals between eruptions of a geyser follow an exponential distribution. Suppose the mean time between eruptions is 81 minutes. a. What is the probability that more than 28 minutes elapse before the next geyser eruption? b. What is the probability that less than 64 minutes elapse before the next geyser er...
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The Smith Company used the indirect method to prepare its statement of cash flows. Net income for the year was $150,000. Cash was paid for interest of $10,000 and for income taxes of $25,000. During the year, the company sold a long-term investment (cost $40,000) for $50,000. The following information is also availab...
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For the given circle {eq}x^2 + y^2 = 9{/eq}, determine the equation of the tangent line at the point (2, -\sqrt{5}) on the circle.
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You have an opportunity to invest in one of two state-supported mutual funds. Fund X provides annual income from $0 to $10,000 per year with a 50% chance of earning each dollar. Fund Y provides annual income from $0 to $25,000 per year with a 50% chance of earning each dollar. If you seek to maximize the certainty equi...
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Mitchell Corporation's stock had a required return of 11.75% last year, when the risk-free rate was 5.50% and the market risk premium was 4.75%. Then an increase in investor risk aversion caused the market risk premium to rise by 2%. The risk-free rate and the firm's beta remain unchanged. What is the company's new req...
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A company manufactures two products (A & B) from a single raw material input. Budgeted data for the next month is as follows: Product A Product B Sales $100,000 $160,000 Variable costs $40,000 $96,000 Fixed costs $6,000 $16,000 This month total raw material available is 24,000 pounds with a budgeted cost of $3 pe...
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If the elasticity of supply of US exports to Brazil is 0.3 and the elasticity of demand for US exports to Brazil is -0.5, then according to the Specialized External Effect model the United States and Brazil will likely have a: A) free trade agreement. B) preferential trade agreement. C) bilateral protectionist agree...
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Below are the expected present value in 10 years of $100 per year forever with various interest rates. Which interest rate produces the highest expected present value in 10 years? Why? a) 5% b) 15% c) 30% d) 40%
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Integrating HR systems across an organization can lead to all of the following benefits, except: a. Higher employee productivity. b. Improved decision making. c. Increased liability of HR manager. d. Streamlined HR processes. e. A better strategic fit.
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A firm employs 100,000 workers at $15 per hour, 20,000 machines at $100 per hour, and the last unit of labor adds 250 units to total output, while the last unit of capital adds 500 units to total output. We can conclude that: a. the current input mix is not optimal. b. more labor should be hired and less capital shou...
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Suppose a security with a risk-free cash flow of $100 in one year and a risk-free cash flow of $100 in two years is trading for $185.00. A security with a risk-free cash flow of $100 in one year is trading for $75.00. What is the risk-free cash flow from the second security in one year?
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Weatherall Enterprises has no debt or preferred stock it is an all-equity firm and has a beta of 2.0. The chief financial officer is evaluating a project with an expected return of 14%, before any risk adjustment. The risk-free rate is 5%, and the market risk premium is 4%. The project being evaluated is riskier than a...
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A company is being liquidated and has reported assets with a book value of $850,000 and a fair value of $600,000. It also has previously unrecorded customer lists with a fair value of $50,000 and estimated liquidation expenses of $40,000. What should be the total reported assets in the statement of net assets in liquid...
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Acme Company purchases for resale 1,000 widgets for $62 each. At year-end, the replacement cost is $55 per widget, the estimated selling price is $63 per widget, the disposal cost is $2 per widget, and the estimated markup is $10 per widget. If Acme uses LCM costing by item, at what amount will the widgets be reported ...
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Walter Products currently has 775,000 shares of common stock outstanding at a price of $46 a share. It also has 25,500 bonds outstanding that have a 6.5 percent coupon. The bonds mature in 9 years, have a face value of $1,000, and sell at 106 percent of par. What is the capital structure weight of the preferred stock? ...
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In its first month of operation, Kuhlman Company purchased 240 units of inventory for $6, then 310 units for $7, and finally 250 units for $8. At the end of the month, 280 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO.
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At Carver Corporation, direct materials are added at the beginning of the process and conversion costs are uniformly applied. Other details include: WIP beginning (60% for conversion)12,700 units Units started76,500 units Units completed and transferred out73,000 units WIP ending (30% for conversion)16,200 units Begi...
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Soaring Stock has a current stock price of $42.61 per share. The last dividend paid was $2.44 per share. The market rate of return is 10.8 percent and the company's dividend growth rate is 8 percent. What is the expected price of this stock 6 years from today?
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Find the flux of the vector field F(x, y, z) = x^2 i + y^2 j + z^2 k, where S is the part of the sphere x^2 + y^2 + z^2 = 4 in the first octant, with upward orientation.
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Which of the following will most likely be a fixed cost? a. The salary of factory workers. b. The cost of shipping merchandise to customers. c. Advertising expenses. d. The cost of temporary workers to assist during busy periods.
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Goldeier Industries has recently shifted its focus from a sole proprietorship to a corporation. The company's accountant is concerned that the firm's required rate of return might be different for the new corporate form. To test this theory, the accountant has prepared the following data: Initial investmen...
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If the real risk-free rate is 2 percent, inflation is expected to be 3 percent this year, and the maturity risk premium is zero for a 1-year T-bond but 0.1 percent for a 2-year bond, what is the yield on a 2-year T-bond? State your answer in percentage.
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A firm had the following income statement for 2014 and 2015: 2015 2014 Income Statement data: $ $ Sales revenue $450,000 $400,000 Cost of goods sold 160,000 128,000 Gross margin 290,000 272,000 Depreciation 35,000 30,000 Net income $135,000 $112,000 The following information is for 2015: Sales reven...
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A study has been conducted to determine if Product A should be dropped. Sales of the product total $300,000 per year; variable expenses total $220,000 per year. Fixed expenses charged to the product total $100,000 per year. The company estimates that $30,000 of these fixed expenses will continue even if the product is ...
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Suppose today is January 2, 2020, and the Treasury bond futures price for December 2020 maturity is 152-02. If the term structure of interest rates does not change over the next three months, which of the following statements is true about the Treasury bond futures price for December 2023 maturity? Choose the most accu...
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The cost of equity for a firm _____. A) increases as the beta of the firm's stock increases B) increases as the risk-free rate of return decreases C) ignores the effect of diversification when using the CAPM method D) equals the risk-free rate plus the market risk premium
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A cash flow of $1,000 in one year is equal to $950 today given an interest rate of: a. 2.3%. b. 4.6%. c. 5.3%. d. 6.7%.
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Indicate whether the following statement is true or false: The discounted payback method is very useful as a rough screening device to eliminate projects that will increase shareholder value. The discounted payback method is biased toward long-term projects when used with projects of different lengths and is thus unlik...
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The Winters Corporation produces two products: Product Q96L and Product V76U. Data concerning these products for the most recent month appear below: Product Q96L Product V76U Sales $44,300 $29,200 Variable manufacturing and selling expenses $11,000 $20,800 Fixed manufacturing expenses $6,900 $5,200 The fixed manufac...
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An AISI 1141 steel plate has a yield strength of 50.2 ksi. Using the Tresca theory, determine the maximum load P that the plate can carry if the plate is 1 in. thick and 4 in. wide. The plate is fixed at one end and free at the other end. The length of the plate is 10 in.
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Highflyer Airlines had 500,000 shares of common stock and 35,000 shares of 5%, $100 par value preferred stock outstanding on January 1. Net Income for 2016 was $1.5 million. Dividends on preferred stock were $150,000 in 2016. What would be the company's earnings per share for the year?
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The data to the right are based on the results from 250 spins of a roulette wheel with 38 slots. If the number spun was odd, a $1 bet on "odd" wins $1; otherwise, the player loses the $1 bet. Find the expected net winnings for a player who made a large number of $1 bets on "odd." Roulette wheel: Number of wins: 131 ...
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The St. Patrick's corporation recently purchased machinery that had a cost of $100,000 and a salvage value of $5,000. The estimated life of the machinery is 5 years. If the straight-line depreciation method is used, what will the book value of the machinery be at the end of its 3rd year of use? a. $37,000 b. $63,000 ...
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What is the probability that the mean body temperature of a sample of 16 healthy adults will be less than 98.2F, given that body temperatures of healthy adults are normally distributed with a mean of 98.6F and a standard deviation of 0.62F?
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The differential equation that describes the temperature T of the body is given by the following: dT /dt =k (A-T) where k is a positive constant and A is the ambient temperature. Which of the following statements is true? a) The temperature will oscillate about A indefinitely. b) The temperature will decrease towar...
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I'm reviewing for my algebra test tomorrow and I'm kinda lost on how to do the following problem: How many elements of order $6$ are there in $\mathbb Z_2 \times \mathbb Z_6$?
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You purchased an annual interest coupon bond one year ago with six years remaining to maturity at the time of purchase. The coupon interest rate is 10.00% and par value is $1,000. At the time you purchased the bond, the yield to maturity was 8%. If the bond had a 5% call premium, what was your total return on the bond ...
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Given the following information, prepare a work sheet to complete the statement of cash flows. Show work. Classify each cash flow as to whether it is operating, investing, or financing. Also show the net cash flow for each activity. The net change in cash is $18,640 and the ending cash balance is $63,640. ...
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You purchase a consol at a price of $1,000 and must pay $10 each year forever. a. What is the nominal rate of return on this investment? b. If the interest rate increased 3 percentage points, what would be the nominal rate of return?
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A university is planning to award a $100,000 scholarship to the student that has had the most improvement in the verbal portion of the SAT (from its initial test to a retest after 1 year of preparation). Therefore, students' first test and their last test are both administered. Data for 10 students follow. Test after ...
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A corporation is considering a project with a 10-year life and the following before-tax cash flows: Year 0: -100,000 Year 1-6: 25,000 Year 7-10: 10,000 The firm's WACC is 10%, and its tax rate is 30%. What is this project's net present value (NPV)? Show your work and round to the nearest hundred dollars. a. -$6,000 ...
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Your firm has the option to purchase a new line of heavy machinery that will replace a line that was purchased 5 years ago for $300,000. The old line is being depreciated on a straight line basis over a 7 year life. The old line could be sold to a salvage buyer for a price equal to its current book value of $150,000. I...
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The Somerset Company purchased a new machine on July 2 of the current year at a cost of $40,000. The estimated useful life of the machine was 5 years. Using the double-declining-balance method of depreciation, what is the carrying value of this machine at the end of year 1? a. $24,000.00 b. $28,000.00 c. $19,200.00 ...
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Determine the price where the demand function {eq}\, q(p) \, = \, 200 \, - \, 60p \, {/eq} has inelastic demand. a) Demand is inelastic on the interval (1.67, 3.33) b) Demand is inelastic on the interval (0, 3.33) c) Demand is inelastic on the interval (0, 1.67) d) Demand is always inelastic
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When an issue of common stock is sold at a premium (generally meaning at 10% over par value), the journal entry is: A. Cash and Credit Squeezes| Debit Stock Premium| Credit Par Value of Shares| Credit B. Cash and Credit Squeezes|Debit Stock Premium|Credit Common Stock|Credit C. Cash|Debit Stock Premium|Credit...
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What is the pH of a buffer if 5.0 mL of 1 M NaOH is added to 50.0 mL of the buffer? The 50.0 mL buffer contains 2.00 g of sodium acetate and 2.00 g of acetic acid. a. 4.12 b. 4.44 c. 4.74 d. 5.27 e. 5.39
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You are creating a table that describes the motion of a batted baseball during the first 2 seconds after it was hit. You need to make an entry in a column for the velocity of the ball for the instant t = 0.1 s. Assuming you are using the interval from 0 to 0.2 s and the average velocity over this interval, what is a po...
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Tim has the following four investments available. He needs to choose one: Investment Present Value Face Value Yield to Maturity Maturity A $1000.00 $1000.00 6.00% 20 years B $1100.00 $1000.00 5.00% 10 years C $850.00 ...
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A 10 year discount bond with face value of $1,000 has a yield of 6%. If the yield on the discount bond rises to 7%, the bond price will go down to _____.
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A mass is attached to the bottom of a vertical spring. The mass is pulled up and released so that it oscillates freely. Its motion is represented by the equation {eq}y = 0.8sin (21t) {/eq}, where y is the distance in centimeters and t is the number of seconds. Find the maximum velocity and the least time at which the ...
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What is the volume of the solid obtained by rotating about the x-axis the region bounded by {eq}\displaystyle y=2 x^2,\ x=\sqrt{y},\ y=2{/eq}?
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Is there an elementary proof of the formula $$\sum_{k=1}^{n-1}\csc^2\frac{(2k+1)\pi}{2n} = n^2$$ for any integer $n \ge 1$?
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Brendan Ltd. has annual sales of $200 million with a cost of goods sold of $150 million. They keep an average inventory of $60 million. On average, the firm has accounts receivable of $50 million. The firm buys all raw materials on credit; its trade credit terms are net 30 days, and it pays on time. The firm's managers...
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T(n) = 2 T(ceil(sqrt(n))) + 1, T(1) = 1 , T(2) = 1. Solve using master theorem .
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Assume that today is December 31, 2016, and that the following information applies to Artic Supply: - After-tax operating income [EBIT(1 - T)] for 2017 is expected to be $450 million. - The depreciation expense for 2017 is expected to be $180 million. - The capital expenditures for 2017 are expected to be $400 milli...
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What is the slope of the line that is tangent to a curve with equation {eq}\displaystyle \sum\limits_{n = 1}^{\infty} \frac{(n+1)x^n}{n!} = 0{/eq} at {eq}x = 0.25{/eq}?
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