EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780135231906
Author: Evans
Publisher: VST
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At the beginning of the year, Meridian Industries estimated its manufacturing overhead to be $312,500. At the end of the year, actual direct labor-hours were 25,200 hours, actual manufacturing overhead was $298,600, and manufacturing overhead was overapplied by $29,800. If the predetermined overhead rate is based on direct labor-hours, then the estimated direct labor-hours at the beginning of the year used in the predetermined overhead rate must have been: (Round your intermediate calculations to 2 decimal places.)
Net income is $145,000, accounts payable increased $12,000 during the year, inventory decreased $8,000, and accounts receivable increased $15,000 during the year. Under the indirect method, what is net cash provided by operations? Provide answer
Total unit cost part Y is
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- correct answer with accountingarrow_forwardFoster Corp. had $178,500 of net income in 2022 when the selling price per unit was $160, the variable costs per unit were $95, and the fixed costs were $710,000. Management expects per unit data and total fixed costs to remain the same in 2023. The president of Foster Corp. is under pressure from stockholders to increase net income by $115,200 in 2023. Compute the number of units sold in 2022. Answerarrow_forwardCalculate the gross profitarrow_forward
- Can you help me with accounting questionsarrow_forwardProblem 3 Stata Output Analysis Suppose a study investigates the causal effect of education on wages. Table 1 reports the results of an OLS regression of wages (wage per hour in dollars) on education (years in education). Table 1 Source SS df MS Number of obs = 3,017 F(1, 3015) = 298.39 Model Residual 18904467 191011981 1 18904467 3,015 63353.8909 Prob > F 0.0000 R-squared 0.0901 Adj R-squared 0.0898 Total 209916448 3,016 69600.9444 Root MSE 251.7 wage Coef. Std. Err. t P>|t| [95% Conf. Interval] education cons 29.56644 183.9342 1.711605 23.15976 17.27 0.000 7.94 0.000 26.21041 138.5237 32.92247 229.3447 a. How would you write this relationship using the Core Model? (5 points) b. What is the value for B₁, the coefficient on Education? (2 points) C. What is the standard error of ẞ₁? (2 points) d. What is the R squared for the model? (2 points) e. What is the t statistic for ₁at the 5% level of significance? (2 points) Λ f. What is the 95% confidence interval for B₁? (2 points) Λ g.…arrow_forwardThe ending inventory for the year would bearrow_forward
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