Tiana accounting cycle
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Sample Question: Complex Category
Sample Question: Complex Category
Pool Corporation is the world’s largest wholesale distributor of swimming pool supplies and equipment & services.
It sells these products to swimming pool repair and service businesses like Penny’s Pool Service & Supply Inc., swimming pool builders, and retail swimming
pool stores. The majority of these customers are small, family-owned businesses like Penny’s. Its trial balance for the last year ended December 31, 2019 is
presented below:
Account Titles
Debit
Credit
Cash and cash equivalents
$
560,000
Accounts receivable
65,000
Supplies
25,000
Product inventory
125,000
Prepaid insurance
20,000
Equipment
143,000
Other non-current assets, net
2,000
Accumulated depreciation
$
21,000
Accounts payable
25,000
Interest payable
0
Rent payable
0
Wages payable
7,000
Property tax payable
12,000
Long term notes payable
30,000
Capital
500,000
Retained earnings
345,000
$
940,000
$
940,000
The following transactions occurred during the financial year 2020:
a. A retail pool customer pays his outstanding balance of $8,400 to Pool Corporation.
b. Supplies purchased in Cash amounting $610.
c. Pool Corporation purchases Product Inventory in Cash amounting to $41,300.
d. Paid wages in cash amounting to $11,400.
e. Pool Corporation purchased equipment worth $18,000 and paid immediately.
f. Pool Corporation paid $2,400 cash for the premium on a 12th month insurance policy beginning from December 2020.
g. Pool Corporation paid $200 towards general repairs in cash.
h. Pool Corporation paid $4,100 cash towards Utilities.
i. Pool Corporation paid $270 towards transportation for one of the equipment as per the sale agreement.
j. Pool Corporation purchased Product Inventory for $27,000 Cash.
k. Pool Corporation owed $1,100 wages to the office receptionist and three assistants for working the last two days in December 2020. The employees will
be paid in January 2021.
l. On October 1, 2020, Pool Corporation received $24,000 from customers who prepaid pool cleaning service for one year beginning on November 1, 2020.
m. Pool Corporation received a $760 utility bill for December utility usage. It will be paid in January 2021.
n. Pool Corporation borrowed $27,100 from a local bank on May 1, 2020, signing a note with a 6 percent interest rate. The note and interest are due on May
1, 2021.
o. On December 31, 2020, Pool Corporation cleaned and winterized a customer’s pool for $11,300, but the service was not yet recorded on December 31.
p. On August 1, 2020, Pool Corporation purchased a two-year insurance policy for $3,000, with coverage beginning on that date.
q. During 2020, Pool Corporation purchased supplies costing $21,000 from various suppliers for cash.
r. Pool Corporation estimated that depreciation on its buildings and equipment was $9,000 for the year.
s. At December 31, 2020, $1,600 of interest on investments was earned that will be received in 2021.
t. Rent for December due to be paid in January 2020 of $1,900.
u. Sold $17,000 of goods and received the amount on the same day.
v. Record the expired insurance purchased (trans. f) for the month of December.
w. Sales worth $39,000 made to Penny’s Pool Service & Supply Inc. on Credit.
x. Pool Corporation received utilities bill for $500 for December. Paid in cash when received.
y. Property tax paid $3,000 during the year.
z. Received partial payment from Penny’s Pool Service & Supply Inc amounting to $17,500 for the purchase made this year. (tras."w")
a1. Pool Corporation purchased equipment worth $5,000 on credit basis.
b2. Pool Corporation received the remaining balance amount due towards the recent sale made to Penny’s Pool Service & Supply Inc. (trans "w")
c3. Paid for the equipment purchased. (tran. A1)
d4. On December 31, 2020, Pool Corporation had $22,000 of pool cleaning supplies on hand. Record the necessary adjusting entry.
e5. Property tax due and payable worth $12,000.
e6. Recognize revenue earned (transaction L)
e7. Record interest accrued on bank loan (Transaction N).
e8. Record the adjusting entry to record expired insurance (Transaction P).
Required:
1. Post the required entries.
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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2. Post the entries and their balances to their respective T-accounts.
3. Prepare Adjusted Trial Balance.
4. Prepare Income Statement.
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5. Prepare Statement of Owner's Equity.
6. Prepare Balance Sheet.
(Input all amounts as positive values.)
7. Post the closing entries.
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
References
Worksheet
Sample Question: Complex
Category
Sample Question: Complex Category
Sample Question: Complex Category
Pool Corporation is the world’s largest wholesale distributor of swimming pool supplies and equipment & services.
It sells these products to swimming pool repair and service businesses like Penny’s Pool Service & Supply Inc., swimming pool builders, and retail
swimming pool stores. The majority of these customers are small, family-owned businesses like Penny’s. Its trial balance for the last year ended December
31, 2019 is presented below:
Account Titles
Debit
Credit
Cash and cash equivalents
$
560,000
Accounts receivable
65,000
Supplies
25,000
Product inventory
125,000
Prepaid insurance
20,000
Equipment
143,000
Other non-current assets, net
2,000
Accumulated depreciation
$
21,000
Accounts payable
25,000
Interest payable
0
Rent payable
0
Wages payable
7,000
Property tax payable
12,000
Long term notes payable
30,000
Capital
500,000
Retained earnings
345,000
$
940,000
$
940,000
The following transactions occurred during the financial year 2020:
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a. A retail pool customer pays his outstanding balance of $8,400 to Pool Corporation.
b. Supplies purchased in Cash amounting $610.
c. Pool Corporation purchases Product Inventory in Cash amounting to $41,300.
d. Paid wages in cash amounting to $11,400.
e. Pool Corporation purchased equipment worth $18,000 and paid immediately.
f. Pool Corporation paid $2,400 cash for the premium on a 12th month insurance policy beginning from December 2020.
g. Pool Corporation paid $200 towards general repairs in cash.
h. Pool Corporation paid $4,100 cash towards Utilities.
i. Pool Corporation paid $270 towards transportation for one of the equipment as per the sale agreement.
j. Pool Corporation purchased Product Inventory for $27,000 Cash.
k. Pool Corporation owed $1,100 wages to the office receptionist and three assistants for working the last two days in December 2020. The employees will
be paid in January 2021.
l. On October 1, 2020, Pool Corporation received $24,000 from customers who prepaid pool cleaning service for one year beginning on November 1, 2020.
m. Pool Corporation received a $760 utility bill for December utility usage. It will be paid in January 2021.
n. Pool Corporation borrowed $27,100 from a local bank on May 1, 2020, signing a note with a 6 percent interest rate. The note and interest are due on May
1, 2021.
o. On December 31, 2020, Pool Corporation cleaned and winterized a customer’s pool for $11,300, but the service was not yet recorded on December 31.
p. On August 1, 2020, Pool Corporation purchased a two-year insurance policy for $3,000, with coverage beginning on that date.
q. During 2020, Pool Corporation purchased supplies costing $21,000 from various suppliers for cash.
r. Pool Corporation estimated that depreciation on its buildings and equipment was $9,000 for the year.
s. At December 31, 2020, $1,600 of interest on investments was earned that will be received in 2021.
t. Rent for December due to be paid in January 2020 of $1,900.
u. Sold $17,000 of goods and received the amount on the same day.
v. Record the expired insurance purchased (trans. f) for the month of December.
w. Sales worth $39,000 made to Penny’s Pool Service & Supply Inc. on Credit.
x. Pool Corporation received utilities bill for $500 for December. Paid in cash when received.
y. Property tax paid $3,000 during the year.
z. Received partial payment from Penny’s Pool Service & Supply Inc amounting to $17,500 for the purchase made this year. (tras."w")
a1. Pool Corporation purchased equipment worth $5,000 on credit basis.
b2. Pool Corporation received the remaining balance amount due towards the recent sale made to Penny’s Pool Service & Supply Inc. (trans "w")
c3. Paid for the equipment purchased. (tran. A1)
d4. On December 31, 2020, Pool Corporation had $22,000 of pool cleaning supplies on hand. Record the necessary adjusting entry.
e5. Property tax due and payable worth $12,000.
e6. Recognize revenue earned (transaction L)
e7. Record interest accrued on bank loan (Transaction N).
e8. Record the adjusting entry to record expired insurance (Transaction P).
Required:
1. Post the required entries.
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
No
Transaction
General Journal
Debit
Credit
1
a
Cash
8,400
Accounts receivable
8,400
2
b
Supplies
610
Cash
610
3
c
Product inventory
41,300
Cash
41,300
4
d
Wages expense
11,400
Cash
11,400
5
e
Equipment
18,000
Cash
18,000
6
f
Prepaid insurance
2,400
Cash
2,400
7
g
Repair expense
200
Cash
200
8
h
Utilities expense
4,100
Cash
4,100
9
i
Transportation expense
270
Cash
270
10
j
Product inventory
27,000
10
j
Product inventory
27,000
Cash
27,000
11
k
Wages expense
1,100
Wages payable
1,100
12
l
Cash
24,000
Deferred revenue
24,000
13
m
Utilities expense
760
Utilities payable
760
14
n
Cash
27,100
Short term borrowings
27,100
15
o
Accounts receivable
11,300
Sales
11,300
16
p
Prepaid insurance
3,000
Cash
3,000
17
q
Supplies
21,000
Cash
21,000
18
r
Depreciation expense
9,000
Accumulated depreciation
9,000
19
s
Interest receivable
1,600
Interest revenue
1,600
20
t
Rent expense
1,900
Rent payable
1,900
21
u
Cash
17,000
Sales
17,000
22
v
Insurance expense
200
Prepaid insurance
200
23
w
Accounts receivable
39,000
Sales
39,000
24
x
Utilities expense
500
Cash
500
25
y
Property tax expense
3,000
Cash
3,000
26
z
Cash
17,500
Accounts receivable
17,500
27
a1
Equipment
5,000
Accounts payable
5,000
28
b2
Cash
21,500
Accounts receivable
21,500
29
c3
Accounts payable
5,000
Cash
5,000
2. Post the entries and their balances to their respective T-accounts.
30
d4
Supplies expense
24,610
Supplies
24,610
31
e5
Property tax expense
12,000
Property tax payable
12,000
32
e6
Deferred revenue
4,000
Sales
4,000
33
e7
Interest expense
1,084
Interest payable
1,084
34
e8
Insurance expense
625
Prepaid insurance
625
Cash and Cash Equivalents
Accounts Receivable
Beg. bal.
560,000
Beg. bal.
65,000
a.
8,400
610 b.
o.
11,300
8,400 a.
u.
17,000
41,300 c.
w.
39,000
17,500 z.
z.
17,500
11,400 d.
21,500 b2.
b2.
21,500
18,000 e.
l.
24,000
2,400
f.
End. bal.
n.
27,100
200 g.
4,100 h.
270 i.
27,000 j.
3,000 p.
21,000 q.
500 x.
3,000 y.
5,000 c3.
End. bal.
Interest Receivable
Supplies
Beg. bal.
Beg. bal.
25,000
s.
1,600
b.
610
24,610 d4.
q.
21,000
End. bal.
End. bal.
Product Inventory
Prepaid Insurance
Beg. bal.
125,000
Beg. bal.
20,000
c.
41,300
f.
2,400
200 v.
j.
27,000
p.
3,000
625 e8.
End. bal.
End. bal.
67,900
537,720
1,600
22,000
193,300
24,575
F
F
F
F
F
F
F
F
F
F
F
F
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Equipment
Other non-current assets, net
Beg. bal.
143,000
Beg. bal.
2,000
e.
18,000
a1.
5,000
End. bal.
End. bal.
Accounts Payable
Interest Payable
Beg. bal.
25,000
Beg. bal.
c3.
5,000
5,000 a1.
1,084 e7.
End. bal.
End. bal.
Rent Payable
Wages Payable
Beg. bal.
Beg. bal.
7,000
1,900 t.
1,100 k.
End. bal.
End. bal.
Utilities Payable
Property Tax Payable
Beg. bal.
Beg. bal.
12,000
760 m.
12,000 e5.
End. bal.
End. bal.
Short Term Borrowings
Long Term Notes Payable
Beg. bal.
Beg. bal.
30,000
27,100 n.
End. bal.
End. bal.
Capital
Retained Earnings
Beg. bal.
500,000
Beg. bal.
345,000
End. bal.
End. bal.
Supplies Expense
Depreciation Expense
Beg. bal.
Beg. bal.
d4.
24,610
r.
9,000
End. bal.
End. bal.
Sales
Deferred Revenue
Beg. bal.
Beg. Bal.
4,000 e6.
e6.
4,000
24,000 l.
11,300 o.
17,000 u.
39,000 w.
End. bal.
End. Bal.
Accumulated Depreciation
Wages Expense
166,000
2,000
25,000
1,084
1,900
8,100
760
24,000
27,100
30,000
500,000
345,000
24,610
9,000
71,300
20,000
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
3. Prepare Adjusted Trial Balance.
Beg. bal.
21,000
Beg. bal.
9,000 r.
d.
11,400
k.
1,100
End. bal.
End. bal.
Insurance Expense
Rent Expense
Beg. bal.
Beg. bal.
v.
200
t.
1,900
e8.
625
End. bal.
End. bal.
Interest Revenue
Repair Expense
Beg. bal.
Beg. bal.
1,600 s.
g.
200
End. bal.
End. bal.
Transportation Expense
Interest Expense
Beg. bal.
Beg. bal.
i.
270
e7.
1,084
End. bal.
End. bal.
Utilities Expense
Property Tax Expense
Beg. bal.
Beg. bal.
h.
4,100
y.
3,000
m.
760
e5.
12,000
x.
500
End. bal.
End. bal.
30,000
12,500
825
1,900
1,600
200
270
1,084
5,360
15,000
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
F
4. Prepare Income Statement.
$
Pool Corporation
Adjusted trial balance
For year ended December 31, 2020
Account Title Debit
Credit
Cash and cash equivalents
537,720
Accounts receivable
67,900
Supplies
22,000
Product inventory
193,300
Prepaid insurance
24,575
Equipment
166,000
Other non-current assets, net
2,000
Interest receivable
1,600
Accumulated depreciation
30,000
Accounts payable
25,000
Interest payable
1,084
Rent payable
1,900
Wages payable
8,100
Property tax payable
24,000
Long term notes payable
30,000
Utilities payable
760
Capital
500,000
Retained earnings
345,000
Depreciation expense
9,000
Sales
71,300
Interest revenue
1,600
Wages expense
12,500
Insurance expense
825
Rent expense
1,900
Repair expense
200
Interest expense
1,084
Utilities expense
5,360
Supplies expense
24,610
Transportation expense
270
Deferred revenue
20,000
Property tax expense
15,000
Short term borrowings
27,100
Total
$
1,085,844
$
1,085,844
F
F
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5. Prepare Statement of Owner's Equity.
6. Prepare Balance Sheet.
(Input all amounts as positive values.)
$
Pool Corporation
Income Statement
For year ended December 31, 2020
Revenue:
Sales
71,300
Interest revenue
1,600
Expenses: Depreciation expense
9,000
Wages expense
12,500
Insurance expense
825
Rent expense
1,900
Repair expense
200
Interest expense
1,084
Utilities expense
5,360
Supplies expense
24,610
Transportation expense
270
Property tax expense
15,000
Net income
$
72,900
70,749
$
2,151
F
F
F
$
$
$
Pool Corporation
Statement of Owner's equity
For year ended December 31, 2020
Capital
500,000
Add: Retained earnings
345,000
Add: Net income
2,151
Ending
347,151
$
847,151
F
F
7. Post the closing entries.
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
$
$
$
Pool Corporation
Balance Sheet
For year ended December 31, 2020
Assets
Current Assets
Cash and cash equivalents
537,720
Accounts receivable
67,900
Supplies
22,000
Product inventory
193,300
Interest receivable
1,600
Prepaid insurance
24,575
Total Current Assets
Non-Current Assets
Equipment
166,000
Less: Accumulated Depreciation
30,000
136,000
Other non-current assets, net
2,000
Total Non-Current Assets
Total Assets
Liabilities
Current Liabilities
Accounts payable
25,000
Interest payable
1,084
Rent payable
1,900
Wages payable
8,100
Utilities payable
760
Property tax payable
24,000
Deferred revenue
20,000
Short term borrowings
27,100
Total Current Liabilities
Non-Current Liabilities
Long term notes payable
30,000
Total Non-Current liabilities
Total Liabilities
Owner's Equity
Capital
500,000
Retained earnings
347,151
Total Owner's Equity
Total Liabilities & Equity
$
847,095
$
138,000
$
985,095
$
107,944
$
30,000
$
137,944
$
847,151
$
985,095
F
F
F
F
F
F
F
F
Explanation:
No further explanation details are available for this problem.
No
Transaction
General Journal
Debit
Credit
A
1
Sales
71,300
Interest revenue
1,600
Income summary
72,900
B
2
Income summary
70,749
Depreciation expense
9,000
Wages expense
12,500
Insurance expense
825
Rent expense
1,900
Repair expense
200
Interest expense
1,084
Utilities expense
5,360
Supplies expense
24,610
Transportation expense
270
Property tax expense
15,000
C
3
Income summary
2,151
Retained earnings
2,151
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Outsourcing Call Centers; Strategy; Ethics; Present-Value Analysis (Chapter 12) Merchants’Bank (MB) is a large regional bank operating in 634 locations in the southeastern United States.Until 2014, the bank operated a call center for customer inquiries out of a single location in Atlanta,Georgia. MB understood the importance of the call center for overall customer satisfaction andmade sure that the center was managed effectively. However, in early 2013, it became clear that thecost of running the center was increasing very rapidly, along with the firm’s growth, and that someissues were arising about the quality of the service. To improve the quality and dramatically reducethe cost of the service, MB moved its call center to Bangalore, India, to be run by an experiencedoutsourcing firm, Naftel, which offers similar services to other banks like MB.The Naftel contract was for 5 years, and in late 2017 it was time to consider whether to renewthe contract, change to another call center…
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PERFORMANCE WATER PUMPS
(CENTRALIZED SYSTEM WITH
DISTRIBUTED TERMINALS)
Performance Water Pumps (PWP) is a leading man-
ufacturer of water pumps with high capacity capabil-
ity. These pumps are used in both civil and private
disaster situations. PWP's primary market is disaster
recovery companies that assist home owners follow-
ing basement flooding. They also sell to building
contractors, municipalities, and rental companies.
The company publishes an industry catalog of
pumps and other auxiliary equipment, which it dis-
tributes to customers and prospective customers.
PWP's headquarters and manufacturing facilities
are in Leesville, Louisiana where they employ 125
manufacturing and clerical staff.
PWP employs a centralized computer system with
distributed terminals in the departments. Recently
they have been having operational problems with
PWP has hired your auditing firm to assess its
operations and internal control procedures.
Purchasing System
When an inventory item falls to…
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Sonos, Incorporated designs, develops, manufactures, and sells multi-room audio products. The Sonos sound system provides
customers with an immersive listening experience created by the design of its speakers and components, a proprietary software
platform, and the ability to stream content from a variety of sources over the customer's wireless network or over Bluetooth. In an
earlier year, it reported the following on its income statement (dollars in millions).
Net sales
Costs and expenses
Cost of sales
Research and development
Selling, general, and administrative
Operating income (loss)
Interest and other incone (expenses), net
Loss before provision for income taxes
Provision for income taxes
Net loss
The company's beginning and ending assets were $762 and $816, respectively.
Transaction
a
b.
$ 1,326
Required:
Listed here are hypothetical additional transactions. Assuming that they also occurred during the fiscal year, complete the following
tabulation, indicating the sign of the…
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Walker Accounting Software is marketed to small accounting firms throughout the U.S. and Canada. Owner George
Walker has decided to outsource the company's help desk and is considering three providers: Manila Call Center (Philippines), Delhi Services (India), and Moscow Bell (Russia). The following table
summarizes the data Walker has assembled. Which outsourcing firm has the best rating? (Higher weights imply higher importance and higher ratings imply more desirable providers.)
In the following table, compute the weighted average score for each of the three providers (enter your responses rounded to one decimal place).
Weight Manila Delhi Moscow
Criterion
Flexibility
(W)
(A)
(B)
0.50
Trustworthiness
0.10
Price
0.20
Delivery
0.20
5689
3
7
6
7
7
J1208
(C)
9
9
Total weighted score:
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UrLink Company is a newly formed company specializing in high-speed Internet service for home and business. The owner, Lenny Kirkland, had divided the company into two segments: Home Internet Service and Business Internet Service. Each segment is run by its own supervisor, while basic selling and administrative services are shared by both segments.Lenny has asked you to help him create a performance reporting system that will allow him to measure each segment’s performance in terms of its profitability. To that end, the following information has been collected on the Home Internet Service segment for the first quarter of 2017.
Budgeted
Actual
Service revenue
$24,800
$25,000
Allocated portion of:
Building depreciation
10,300
10,300
Advertising
4,700
4,200
Billing
3,200
3,200
Property taxes
1,100
1,200
Material and supplies
1,400
1,300
Supervisory salaries
9,400
9,400
Insurance
4,300
3,200
Wages…
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Question: 4. Vanguard Office Supplies Is A Nationwide Retail Chain That Offers Office Supplies And Office Furniture. Company Management Has Decided That, From Both A Competitive And A Cost-cutting Standpoint, Vanguard Should Offer Its Own Private-label Brands For Products Like Student Notebooks, Fillers, Ledgers And Journals, Bond And Linen Paper, And Other Products. ...
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4. Vanguard Office Supplies is a nationwide retail chain that offers office supplies and office furniture. Company management has decided that, from both a competitive and a cost-cutting standpoint, Vanguard should offer its own private-label brands for products like student notebooks, fillers, ledgers and journals, bond and linen paper, and other products. To accomplish this objective, Vanguard is considering the purchase of Omega Paper, a manufacturer of paper products and notebooks. A five-year income forecast for Omega is given, along with other pertinent information.…
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Chugg promotes the idea that the company can help students prepare for academic success in college. Chugg operates two divisions: (1)
major publishers, and (2) niche publishers for specialized courses. The company is considering the possibility of adding a "custom" product
line that accumulates material from rogue professors who use their own material or test banks. The company's current segment income
statement follows:
Major
Niche
Total
Sales
$ 12,000,000 $
4,000,000 $
16,000,000
Variable expenses
2,400,000
1,000,000
3,400,000
Contribution margin
9,600,000
3,000,000
12,600,000
Fixed expenses:
Traceable AND Controllable
4,100,000
2,400,000
6,500,000
Traceable NOT Controllable
3,000,000
1,800,000
4,800,000
Segment margin
2,500,000
(1,200,000)
1,300,000
Fixed expenses: Common
1,000,000
Net income
$
300,000
The company expects the Custom Division to generate an additional contribution margin of $1,400,000. Custom Division will hire new
content managers for $1,000,000. The new product…
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BBB Finished Goods Inventory
BBB tracks its inventory by catalog number (catalog#). Each product is identified by color code, its use (e.g., tops or bottoms), and its type
(e.g., the specific design of the piece). The color codes reflect the color and fabric design options, and they can change each year. Since BBB
produces to order, the beginning quantity on hand of each item is zero. The quantity on hand increases when BBB produces the finished
products and then decreases as it ships the products to the retailers to fill orders. Those two events happen so close together, BBB does not
track the quantity on hand for its finished goods inventory.
Exercise Requirements
1. Based on the preceding information, follow the steps outlined in Chapter 4 to create a business model using BPMN that describes
BBB's Sales to Retailers process.
a. The purpose of the model is to describe BBB's current sales process in preparation for business expansion.
b.
Prepare a context diagram that shows three…
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Waveney DIY Centers (WDC) operates a few dozen stores in the eastern United States. The stores are popular with home
remodelers, contractors, and do-it-yourself customers. The managers at Waveney are interested in understanding what
drives costs as well as getting better cost estimates when planning new stores. The area manager for the Southeast
Region is interested in new data analysis approaches to management and offered to run a test using data from the 14
stores in the region.
The initial thoughts of the managers and the financial analysts in the region were that two primary factors drove store
costs: store area (square footage) and revenue. The following data were collected from the most recent year of operations
(revenues and costs in thousands of dollars).
Revenues
(5000)
Costs
(5000)
Store
SE-01
Area
(Square Feet)
$ 21,545
70,147
$ 16,799
SE-02
16,482
52,417
13,495
SE-03
26,721
84,331
20,210
SE-84
20,389
68,374
16,079
SE-05
20,666
59,509
16,112
SE-06
18,756
68,374
15,099
SE-07…
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The randomly selected 60 shoppers have rated a new bottle design for a popular soft drink. The data are given below. Determine the no. of classes, class width, and the relative frequency of each class to construct the histogram for the given data. Explain the skewness of data based on the histogram.
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