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Canyon Rivers Interior Designs has net sales of $87,000, costs of goods sold of $66,000, and inventory of $25,000. How many days of inventory are sold over a 365-day period? A. 107.28 days B. 90.15 days C. 126.42 days D. 143.57 days E. 180.30 days
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When the price level, income, and expected future income all increase, the demand for money: A. falls, and the demand for bonds falls B. falls, and the demand for bonds rises C. rises, and the demand for bonds falls D. rises, and the demand for bonds rises E. does not change, and the demand for bonds does not chan...
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What is the effective focal length of two thin lenses separated by a distance of 8.0 cm, one with a focal length of +16 cm and the other with a focal length of -16 cm? a. 16 cm b. -8.0 cm c. -16 cm d. 8.0 cm e. 32 cm
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Sunland Corporation uses machine hours (MHs) to apply fixed manufacturing overhead. The information for the year is as follows. Budget Actual Machine Hours 500000 525000 FMOH cost 260000 FMOH Budget Variance 7800 F/F FMOH Volume Variance 15000 U Sunland's standard machine hours allowed for actual output was 543750 ...
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Assume that the cross-price elasticity between cigarettes and a substitute like beer is 0.2. An increase in the price of cigarettes by 15 percent would lead to _____. a. no change in the demand for cigarettes b. an increase in the demand for beer by about 30 percent c. a 3 percent increase in the demand for beer d....
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A $1,000 par value bond with a 10.25% coupon rate (coupon payments are made semiannually) and 8 years to maturity has a price of $987.52. The bond has a yield to maturity of _____. a) 10.55%. b) 10.48%. c) 10.52%. d) 10.58% e) 10.64%.
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Let $f(x) = |x|$ if $-1 < x < 1$ and $f(x) = 0$ if $x \leq -1$ or $x \geq 1$, and let $g(x)$ be the Fourier series for $f(x)$ on the interval $[-1,1]$. Find $$\lim_{n \to \infty} (n+1)b_n$$ for $n = 1,2,3, ...$. Round your answer to the nearest integer.
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The last dividend of Delta, Inc. was $4.02, the growth rate of dividends is expected to be 4.26%, and the required rate of return on this stock is 13.00%. What is the stock price according to the constant growth dividend model? Round the answer to two decimal places.
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Last year National Aeronautics had a FA/Sales ratio of 60%, comprised of $200 million of sales and $120 million of fixed assets. However, its fixed assets were used at only 75% of capacity. Now the company is developing its financial forecast for the coming year. As part of that process, the company wants to set its ta...
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Given a normal distribution with {eq}\mu = 50{/eq} and {eq}\sigma = 4{/eq}, how can I find {eq}x{/eq} when the probability is 0.90?
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A company's profit and owner's equity can be manipulated by: (i) recording capital assets to current assets. (ii) purposely misstating residual values. (iii) purposely misstating useful life. Select one: (a) iii only (b) i only (c) ii and iii only (d) ii only
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You will be receiving end of the year dividends from the Hendrix Motor Corporation at the end of the next three years. Today, the market price of Hendrix stock is $75.83 per share. The dividend yield on Hendrix stock is 6%. What is the amount of the dividend to be paid to shareholders at the end of year 1? a) $5.00 b...
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Suppose the marginal benefit of a public good can be represented as {eq}300 - 10Q {/eq}, while its marginal cost is {eq}20 + Q {/eq}. The optimal quantity of the public good is: a) {eq}18 {/eq}. b) {eq}16.25 {/eq}. c) {eq}14 {/eq}. d) {eq}11 {/eq}. e) {eq}10 {/eq}.
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Hoobastink Mfg. is considering a rights offer. The company has determined that the ex-rights price will be $60. The current price is $70 per share, and there are 20 million shares outstanding. The rights offer would raise a total of $60 million. What is the subscription price?
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Suppose today is January 2, 2017, and investors expect the annual risk-free interest rates in 2021 and 2022 to be 4.5% and 2.3%, respectively. Currently, a four year treasury bond that matures on December 31, 2020 has an interest rate equal to 2.5%. What is the yield to maturity for treasury bonds that mature at the en...
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Company P has a debt-equity ratio of 0.55, and company Q has a debt-equity ratio of 1.15. What can we conclude from this information? A) Company P has 20% more equity than Company Q B) Company Q has twice as much equity as it does debt C) Company P has one-fourth as much debt as equity D) Company Q has one-fourth a...
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Cassiopeia is a country facing an acute financial crisis. Coupled with a negative growth rate, the rate of inflation in the economy has increased to almost 12 percent. The government of Cassiopeia has recently appointed a panel of experts to suggest suitable fiscal measures. Ronald Boyle, a member of the National Trade...
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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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How do I solve $n = \frac{3}{2} \log n$? I'm not sure how to get rid of the $\log$.
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Solve {eq}\dfrac {\mathrm{d}y}{\mathrm{d}x} {/eq} for the equation: {eq}y = e^x \ln x {/eq}.
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A plane is flying horizontally at 180 mph, 100 ft above the ground. A package is thrown downward (from the plane) with an initial velocity of 60 mph. What is the horizontal distance the package will travel before it hits the ground?
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For 2010, Marquina Corporation had income before income taxes of $200,000. Included on the income statement was a loss from a discontinued operation of $100,000 which was not a result of liquidation. The corporate tax rate is 30%. What is Marquina's 2010 diluted income per share? (Round earnings per share to 2 decimal ...
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There is sufficient evidence to show the mean price of textbooks at seller B is more expensive than the mean price of textbooks at seller A. Which of the following statements is true? a. This is a test regarding two dependent samples. b. This is a test regarding two independent samples.
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Franklin Co. has a beta of 1.2. Assume that the risk-free rate of return is 5.6% and the market risk premium is 7.6%. What is the expected return on Franklin Co.'s stock?
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Which of the following is not a typical effect of using the indirect method to compute cash flows from operating activities? a. Net income is adjusted to reflect the use of the cash basis of accounting. b. Depreciation and amortization are added back to net income. c. Increases in inventory are added to net income. ...
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For ABC Company, material A is added at the beginning of the process; material B is added when the units are one-third completed. The firm's ending work-in-process inventory consists of 1,500 units that are two-thirds complete. Which of the following correctly expresses the equivalent units of production with respect t...
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Two men walk in different inertial reference systems. Each one with their own clock. Starting from the same point, at the same time (to their clocks) they walk in perpendicular directions. One walks at 30 kph while the other walks at 40 kph. After 1 hour the two men exchange their clocks. What will be the time differen...
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The year-end prices of the DeWitt, Inc., common stock for the past three years are given in the following table. Year Price 2012 $126.30 2011 $120.00 2010 $115.80 What is the geometric average rate of return for the DeWitt, Inc. common stock over the 3-year period? a) 3.78% b) 4.88% c) 6.00% d) 3.29% e) 2.78%
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A state lottery game is played by selecting three numbers between 0 and 9, inclusive, with replacement. The winning numbers are selected in the same way. You win if your numbers match the winning numbers in any order. Find the probability that you win the lottery.
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A company's net operating income under absorption costing was $80,000. The fixed manufacturing overhead costs deferred in inventory under this costing method were $5,000. What was the net operating income under variable costing? A. $85,000. B. $75,000. C. $80,000. D. $85,000.
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Use iterated expectations to compute the mean of X + 2Y, where X and Y are the outcomes of rolling fair dice, i.e., X has distribution $p_{X}(x) = P(X=x), x\in \{1,2,3,4,5,6\}$. That is, compute $E(X + 2Y)$.
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The distribution of the sample mean IQ, for 25 randomly chosen students at a large university, is a. exactly Normal, mean 100, SD 10 b. approximately Normal, mean 100, SD 10 c. exactly Normal, mean 100, SD 1 d. approximately Normal, mean 100, SD 1 e. can't determine the shape, mean 100, SD 1
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The members of a wine tasting club are married couples. For any married couples in the club, the probability that "husband is retired" $= 0.7$, "wife is retired" $= 0.4$, the probability that "the husband retires given his wife retires" $= 0.8$. Two married couples are chosen at random. Find the probability that only o...
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Budgets for sales are based on: a. production budgets b. capital budgets c. both operating and financial budgets d. operating budgets
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Han Products manufactures 23,000 units of part S-6 each year for use on its production line. At this level of activity, the cost per unit for part S-6 is: Direct materials$4.20 Direct labor12.00 Variable manufacturing overhead2.20 Fixed manufacturing overhead14.00 Total cost per part$32.40 An outside supplier has ...
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_____ is/are typically an all-or-nothing proposition as opposed to incremental investment over time. A) Acquisitions B) Roll-ups C) Sole-sourcing D) Internal development
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The inventory method that matches old costs with current selling prices is: A. LIFO. B. FIFO. C. weighted average. D. specific invoice.
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An electron with energy equal to K1 = 6.13 x 10{eq}^2 {/eq} eV and an electron with energy equal to K2 = 1.79 x 10{eq}^2 {/eq} eV are trapped in a uniform magnetic field and move in circular paths in a plane perpendicular to the magnetic field. What is the ratio (r1/r2) of the radii of their orbits?
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You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $3,500 per year, beginning immediately. You will make 4 deposits in an account that pays 5.7% interest, compounded annually. Under these assumptions, how much will you have 4 years from today? a. $16,918 b. $17,763...
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A local university paid its biology professor in the Economics Department $24,000 for the school year; however, her performance appraisal showed that she had earned $26,000 in salary for the year. The $2,000 difference was included in the appraisal as: a. Organization Development Budget. b. Fair Pay Premium. c. Fair...
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Direct Materials$200,000 Direct Labor$100,000 Variable Factory Overhead$30,000 Fixed Factory Overhead$60,000 Fixed S & A expenses$40,000 Selling price per unit$80 If only 250 units can be produced, what would be the total cost if 250 units are produced? a. $460,000 b. $330,000 c. $450,000 d. $340,000
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The following information is available for Ramos Corporation for the year ended December 31, 2014: Beginning cash balance$74,825 Accounts payable decrease$6,670 Depreciation expense$231,128 Accounts receivable increase$13,251 Inventory increase$17,545 Net income$412,305 Cash received for sale of land at book value$54...
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Red Wings, Inc. maintains their accounting records on a cash basis. The following information is provided for 2017: Decrease in Wages Payable from 1/1 to 12/31$5 Cash collected from customers$100 12/31 Accounts receivable$5 12/31 Accounts payable$2 Cash paid to vendors$60 1/1 Accounts payable$5 1/1 Accounts receivabl...
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Which of the following is true of a like-kind exchange? (a) There must be no cash exchanged to qualify. (b) The properties exchanged cannot be personal residences. (c) Office furniture can be exchanged for computers. (d) A new holding period for capital gains treatment starts on the day the exchange is completed.
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Wilson Company is considering a long-term investment project called Zip. Zip will require an investment of $102,000. It will have a useful life of 4 years and no salvage value. Annual revenues would increase by $77,200, and annual expenses excluding depreciation would increase by $42,200. Using the straight-line method...
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A change in depreciation methods employed by an audit client resulting in a material change in depreciation expense: a. is not necessarily a violation of generally accepted accounting principles. b. requires disclosure by the audit client in the footnotes to the financial statements. c. must be noted in the audit op...
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To decrease the number of errors that occur when preparing a trial balance, which of the following procedures would be most effective? a. Understate the balances in the accounts. b. Overstate the balances in the accounts. c. Use a computer to prepare the trial balance. d. Do a cutoff test.
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If a company had $250,000 in cash on January 1 and $75,000 in cash on December 31, how much did the company spend during the year on the following items: (a) purchases of investments, (b) cash dividends, (c) purchase of property, plant, and equipment, and (d) stock repurchases? Show your work.
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A company has outstanding 100,000 shares of $1 par value common stock, and 5,000 shares of $100 par value, 8%, cumulative, participating preferred stock. The preferred stock pays an annual dividend of $2 per share in addition to its 8% dividend. Any remaining income is to be distributed equally to the holders of both c...
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Why is my calculation of the total integral $\int_\Gamma f \ dz$ incorrect? My calculation gives a result of $\pi$, but the correct answer is $0$. My steps are as follows: $\int f \ dz = \int_{\Gamma_1} \frac{1}{z-\frac{3}{2}} \ dz + \int_{\Gamma_2} \frac{1}{z-\frac{1}{2}} \ dz$. I parameterized $\Gamma_1$ as $z_1(t) =...
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X Company and Y company are both in the same industry. X Company has a P/E ratio of 15 and Y Company has a P/E ratio of 20. If the ROE of X Company is 12%, then the ROE of Y Company must be: A. 20% B. 12% C. 6% D. Can't be determined
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Sierra Company is considering a long-term investment project called ZIP. ZIP will require an investment of $121,200. It will have a useful life of 4 years and no salvage value. Annual revenues would increase by $79,180, and annual expenses excluding depreciation would increase by $40,180. Sierra uses the straight-line ...
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Which of the following is true of stock dividends? a. They reduce the net worth of the corporation. b. They provide a tax advantage to the stockholders. c. They reduce the number of shares outstanding. d. They increase the net worth of the corporation. e. They maintain the book value per share.
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Given the following cash flow table: Year 0 1 2 3 4 Cash Flow -$2,000 $700 $800 $900 $1,000 The interest rate for this cash flow table is closest to: (Refer to the Present Value and Future Value tables as needed) 7%, 8%, 9% or 10%.
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Havana Company bases its predetermined overhead rate on machine hours. The information for the year is as follows: Machine hours: Budget: 40000 Actual: 38000 Manufacturing overhead: Budget: $40000 Actual: $42000 Manufacturing overhead rate variance: $6000 F Manufacturing overhead volume variance: $2000 U The stan...
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Adams Furniture receives a special order for 10 sofas for a special (total) price of $6,800. The materials and direct labor for each sofa are $180. In addition, the setup, supervision, and other overhead costs are $200 per sofa. If Adams Furniture is currently operating at full capacity, what would be the opportunity ...
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Company has a number of bonds outstanding that have a par value of $1000 and a coupon rate of 7%. the current market price for one of these bonds is $1123.27. it matures in 10 years. what is its yield to maturity?
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Northern Sludge values its common stock at $65 million and its debt at $35 million. Investors currently require a return of 12% on the common stock and 6.6% on the debt. If Northern Sludge issues an additional $19 million of common stock and uses this money to retire debt, what happens to the expected return on the sto...
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Sunland Company has the following standard costs for one unit of its product, a letter opener: Direct materials 1 pound at $4 per pound $4 Direct labor 3 hours at $13 per hour 39 Variable factory overhead 3 hours at $8 per hour 24 Standard cost per unit $67 During the month of May, Sunland had no beginning ...
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Sally purchased a $1000 par 10% bond for $7,500. She must pay tax at a 35% rate. She plans to keep the bond until maturity. What is the after-tax yield to the investor?
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From the table above, we can see that students' math scores tend to be higher when A. both their middle and high school math scores are low. B. both their middle and high school math scores are high. C. their middle school math scores are low, but their high school math scores are high. D. their middle school math ...
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During 2011, Products Corp. reported the following: short-term borrowings of $231 million; long-term borrowings of $80 million; long-term debt repayments of $20 million; interest paid, $70 million; and treasury shares repurchased $268 million. How much is net cash flow from financing activities during 2011?
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Compute the indicated Riemann sum S₃ for the function f(x) = x² - 5x - 24. A. -85 B. 13.66 C. -99.66 D. -74
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It is not correct to say that a firm's profit maximization occurs when: a. Marginal Revenue equals Marginal Cost. b. Marginal Cost of the last unit equals the Price. c. Revenue of the last unit equals Cost of the last unit. d. Revenue is maximized. e. Cost is minimized.
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Let {eq}\displaystyle F(x,y,z) = \left \langle -xz,y,z \right \rangle {/eq}. Let {eq}\displaystyle E {/eq} be the solid bounded by the cylinder {eq}\displaystyle x^2+y^2=9 {/eq} and the planes {eq}\displaystyle z=-1 {/eq} and {eq}\displaystyle z=2 {/eq}. Find the flux of {eq}\displaystyle F {/eq} through the boun...
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The complexity in the ability of firms to engage in non-price competition under the monopolistic competition market structure is attributed to: a. the assumption of a given product and a given level of advertising expenditure. b. the assumption of a given price and quality of the product. c. the assumption of a give...
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A business is considering a cash outlay of $500,000 for the purchase of land, which it could lease for $40,000 per year. If alternative investments are available which yield a 17% return, the opportunity cost of the purchase of the land is? a. $85,000 b. $40,000 c. $17,000 d. $68,000
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At the end of the current fiscal year, a corporation had net income of $200,000. In addition, the corporation had a pretax operating loss carryover from the previous fiscal year. After evaluating all of the alternatives, the company elected a property settlement to settle the current year's tax obligation and carry for...
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Alpha paid a price of $100.16 per share for 1,000 shares of common stock of Beta. The market value of Beta's net assets was $80,000. Alpha received only 250 shares of Beta's common stock in the exchange. For Alpha, the difference between the fair market value of the securities received and the fair market value of the ...
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What is the pH of a solution prepared by mixing 90.0 mL of 0.10 M HC{eq}_2 {/eq}H{eq}_3 {/eq}O{eq}_2 {/eq} with 135 mL of 0.55 M NaOH? Assume the volume of the solutions are additive and that the final solution is diluted to a volume of 225 mL.
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James Company uses a job-order cost system and has established the following criteria for determining its predetermined overhead rate for a given year: - Traceable fixed manufacturing overhead, $360,000 - Common fixed manufacturing overhead, $180,000 - Variable manufacturing overhead per machine hour, $2.00 - Total...
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Suppose 60% of politicians are lawyers. If a random sample of size 56 is selected, what is the probability that the proportion of politicians who are lawyers will be greater than 50%? Round your answer to four decimal places.
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If U.S. government spending increased by $100 billion, but the quantity of national saving didn't change, and world interest rates fell by 1/2 percent as a result of the change in government spending, how would the U.S. balance of payments be affected? a. The current account would get worse by about $50 billion and th...
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An asset is purchased on January 1 for {eq}\$30,000 {/eq} and has an estimated useful life of 5 years. The straight-line method of depreciation is being used. After 3 years, the asset is sold for {eq}\$15,000 {/eq}. What is the amount of the gain or loss on the sale?
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What is the tax on the gain on the sale of stock to a buyer who holds the stock for more than 1 year? a. 0% b. 15% c. 20% d. The buyer's percentage marginal tax rate
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Use stoke's theorem to find {eq}\int_C F \cdot dr {/eq}, where C is oriented counterclockwise as viewed from above. {eq}F(x,y,z) = (z- \sin x) i + (x^3-4) j + (xy) k {/eq} C is the circle {eq}x^2+y^2= 25 {/eq}, z = 4
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A firm has 50 million shares outstanding, with a price of {eq}\$8 {/eq} per share. It announces plans to raise {eq}\$200 {/eq} million by selling new shares. If the market didn't react to the announcement, it would set the offering price at {eq}\$4 {/eq} per share. However, the market reacts negatively, and the offe...
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Assume that you have a share of stock in a firm. You are offered the following alternative plans for receiving money from the firm in 1 year. Which plan would you prefer, and why? Assume that your required return on these investments is 6.75%. Do not round intermediate calculations. Round your answer to 2 decimal place...
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Annapolis Company produces and sells three products. Last year's results are as follows: P1 P2 P3 Revenues $850,000$2,040,000$2,040,000 Variable costs425,0001,632,0001,448,000 Fixed costs total $1,280,000. What is Annapolis' margin of safety? A. 311,181 B. 352,433 C. 393,684 D. 471,684
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Which of the following is true? a. Corporations do not have to pay taxes. b. Partnerships have double taxation. c. A disadvantage of a corporation is that its stockholders can be held liable for the actions of other stockholders. d. The owners of a sole proprietorship or a partnership have a stronger claim on the c...
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A customer is owed a refund due to damaged merchandise received. If the merchandise was purchased on account, the entry would include a: a. debit to customer refunds payable b. debit to sales c. debit to accounts receivable d. credit to sales returns and allowances
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CITY Company issued 10,000 of 10% coupon bonds a year ago for $1,000 par value. The bonds make annual coupon payments. If these bonds currently sell for 102%, what is the after tax cost of debt for this company if the marginal tax rate is 40%?
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When people are out of work, their potential output is not realized, reducing the country's: A. total output but not the real GDP. B. real GDP but not total output. C. both real GDP and total output. D. neither real GDP nor total output.
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Rombauer, Inc. has the following number of shares of common stock and preferred stock outstanding. The issue is expected to pay an annual dividend of $1.70 per share on its common stock. Type of Securities Number of Shares Common 30,000 Preferred 1,500 Wh...
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Find the maximum and minimum values of the function {eq}f(x,y)=x^2+y^2 {/eq} subject to the given constraint {eq}x^4+y^4=9 {/eq}
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The Simon Company's year-end balance sheets for the years 2013 and 2012, and income statements for 2013 are given as follows: 2013 Income Statement Sales $48,000,000 Costs 32,000,000 Operating profit 16,000,000 Interest expense 2,800,000 Income before taxes 13,200,000 Taxes 3,960,000 Net income $ 9,240,000...
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Period costs are often called: A. Controllable costs. B. Fixed costs. C. Product costs. D. Variable costs. E. Operating expenses.
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Assume that Bubba, Inc. has an average collection period of 61 days. Its annual sales are $6.75 million. Assume all of Bubba's sales are on credit. Calculate Bubba's accounts receivable balance. Use 360 days in a year.
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Diluted EPS for U.S. Airways Inc. for 2005 was: a. $2.10. b. $2.20. c. $1.45. d. $2.60.
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What is the break-even point for a company that has a fixed cost of {eq}\$200 {/eq}, selling price of {eq}\$8 {/eq}, and variable cost of {eq}\$5 {/eq}?
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Suppose you take repeated random samples of size 20 from a population with a mean of 60 and a standard deviation of 8. Which of the following statements is true about the sampling distribution of the sample mean (x̄)? a) The distribution is normal regardless of the shape of the population distribution, because the sam...
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Let A, B, C be sets. Prove that $(A-B)\cup (B-C) = (A\cup B)-C$
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The country of Aquilonia has a tax system identical to that of Canada. Suppose someone in Aquilonia bought a parcel of land for $10,000 in 1960 when the price index equaled 100. In 2002, the person sold the land for $100,000, and the price index equaled 500. If the person must pay 20 percent of any capital gain in taxe...
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Chastain Furnishings common stock is currently selling for $26.45. Management believes that the stock price will grow to $30.85 next year. Investors require a 14% rate of return on this stock. What must the company be paying as a dividend? (Enter your answer rounded off to two decimal points. Do not type "$" sign in yo...
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Find the point on the plane x + 4y + 4z = 52 closest to the point (1, 1, 1).
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Estimate the probability that the board will be overtaxed during a given minute, using the Poisson distribution. (Do not round intermediate calculations. Round final answer to 4 decimal places.) P ( board will be overtaxed ) = _____
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Cash and cash equivalents represent about 20% of a company's market value, and net working capital is around $100 million. The company is considering a plan that calls for paying down its short-term borrowing and replacing cash and marketable securities with fixed assets (equipment and real estate). After these chang...
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Which of the following is TRUE? A. MRP < Price = loss B. MRP > Price = gain C. MRP = Price = loss D. MRP < Price = gain
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A chemical company can produce Q units of a chemical H, with marginal costs of MC = 9 + Q, and can distribute the chemical at marketing marginal costs of MC = 1. The demand for H is given by P = 30 - 1.5Q. If an external market exists where H can be bought or sold without marketing expenses for $13, how much H should t...
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Evaluate $\displaystyle \int_C \arctan \frac{y}{x}\ \mathrm{d} x + \ln \sqrt{x^2+y^2}\ \mathrm{d} y$ where $C$ is the arc of the circle $x^2+y^2=1$ from $(1,0)$ to $(0,1)$.
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