Nike CIO surveyed their employees at the R&D department and collected thefollowing data to help him to decide whether employees should work from home orcommute to the work. The data represents the number of miles that employeescommute from home to work each day. There are two samples: one for males andone for females.Males:13 5 2 23 14 5Females:15 632The coefficient of variation of commute miles for the males is:about 67 percent.approximately 76 percent.approximately 61.5.about 7.8.

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Answered: Nike CIO surveyed their employees at…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Susan was attempting to estimate a model for her small business's overhead costs. She is 99.9% sure that overhead costs are driven primarily by production, but she also knows that this cost isn't entirely variable. So she grabbed the last 8 months of production and overhead cost data, listed it out, and plotted it as follows. Month # of Units Produced 1 2 3 4 5 6 7 00 8 (a1) 250 210 280 340 360 320 270 290 Your answer is correct. Overhead Cost $3,510 2,640 3,270 4,090 3,840 3,920 3,230 4,080 W Susan is planning to use the high-low method to estimate this cost function. Is it important for the data to exhibit a linear relationship when using this method?
An accountant has been monitoring the overall indirect service costs incurred at their company based on the number of labour hours worked. They accept that the costs follow a uniform, regular pattern so decide to use the High-Low method to calculate the Variable Costs and then the fixed costs. The have found the during the month when the lowest hours were worked ( 2083 hours) that the service costs in that low activity month was $14705. In the month when the highest hours were worked ( 4803 hours) the service costs were $18998. Calculate the Variable Cost using the high-low method. Note: Do not input the $ sign, just the decimal number to two decimal places
Ryan: Kaylin, this also sounds good to me. Go ahead and include the carrying cost in your computation. To help in the analysis, Kaylin gathered the following data for LLHC for 2011: Tons sold: 10 Average cartons per shipment: 2 Average shipments per ton: 7 1)After receiving the analysis of LLHC, Ryan decided to expand the analysis to all products. He also had Kaylin reevaluate the way in which mill overhead was assigned to products. After the restructuring was completed, Ryan took the following actions: (a) the prices of most low-volume products were increased, (b) the prices of several high-volume products were decreased, and (c) some low-volume products were dropped. Explain why his strategy changed so dramatically.
Strait Co. manufactures office furniture. During the most productive month of the year, 3,100 desks were manufactured at a total cost of $82,600. In the month of lowest production, the company made 1,160 desks at a cost of $58,100. Using the high-low method of cost estimation, total fixed costs are
30. Tim Horton, an accountant for Brent, Inc., has decided to estimate the fixed and variable components associated with the company’s repair activity. She has collected the following data for the past six months. Estimate the fixed and variable components for the repair costs using the high-low method. Using the cost formula, predict the total cost of repair if 14 hours are used.
Chic Design is a manufacturer of large flower pots for urban settings. The company has these standards: (Click the icon to view the standards.) Last month, the company reported the following actual results for the production of 1,800 flower pots: (Click the icon to view the actual results.) (Click the icon to view related variances.) Assume the company uses a standard cost accounting system. Date Data table Direct materials (resin) Direct labor..... Accounts Requirement 1. Record Watermate's direct material and direct labor journal entries. (Record debits first, then credits. Exclude explanations from any journal entries. Abbreviations used: DM = Direct materials, DL = Direct labor) Let's start by recording the entry for the purchase of raw materials. Journal Entry Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate Print Debit Done Credit 12 pounds per pot at a cost of $5.00 per pound 2.0 hours at a cost of $23.00 per hour .…
Blossom Services, Inc. is trying to establish the standard labor cost of a typical brake repair. The following data have been collected from time and motion studies conducted over the past month. Actual time spent on the brake repairs Hourly wage rate Payroll taxes Setup and downtime Cleanup and rest periods Fringe benefits (a) 1 hour $11 10% of wage rate 5% of actual labor time 25% of actual labor time 20% of wage rate Determine the standard direct labor hours per brake repairs. (Round answer to 2 decimal places, e.g. 1.25.) Standard direct labor hours per brake repair hours 1 SU
Please show your work.
Fukui Electronics manufactures flat screen TVs. In October, they finished manufacturing 82 TVs, started and completed another 175 TVs, and started manufacturing an additional 34 TVs. How would the cost information for manufacturing these TVs be displayed on the company's financial statements?
Use the information below on Direct Labor costs to answer question#33. GIVEN: Management at the Best Ceramic Vase Company wishes to analyze its Direct Labor costs. During September, company management noted that it used 3,400 hours of Direct Labor at a cost of $76,500 to produce 2,300 vases. The company set the following Direct Labor standard. 1.5 hours of Direct Labor per unit at an hourly wage rate of $22.00 33) Determine the actual wage rate (using the Given information above). A) $15.00 B) $22.00 C) $22.18 D) $22.50
The president has read in industry journals that throughput time, MCE, and delivery cycle time are important measures of performance, but no one is sure how they are computed. You have been asked to assist the company, and you have gathered the following data relating to these measures: Average per Month (in days) 1 2 3 4 Wait time per order before start of production Inspection time per unit Process time per unit Queue time per unit Move time per unit 9.0 11.5 12.0 14.0 0.8 0.7 0.7 0.7 2.1 2.0 1.9 1.8 2.8 4.4 6.0 7.0 0.3 0.4 0.4 0.5 Required: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle efficiency (MCE) for each month. 1-c. Compute the delivery cycle time for each month. 3-a. Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 5 the inspection time, process time, and so forth, are the same as for month 4, except that the company is able to completely eliminate the queue time during production using…
Who would be the stakeholders concerned in the case study?

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