a. Sales exceeded the budget by 10.7% ($75,000 ÷ $700,000), while cost of merchandise increased by 22.9% and salaries increased by only 11.4%. Thus, the investigation should focus on cost of merchandise since a 22.9% increase is disproportionate to the increase in sales. b. Electricity would not be a controllable cost for the manager of sporting goods, and it is doubtful that including it on a performance report for sporting goods would be
The alternative hypothesis H1 is that the mean annual income μ is less than $50,000. H1:μ < $50,000 Significance level chosen is 5% or α = 0.05 Here, the population standard deviation is unknown. Hence, we use a t statistic Therefore the test statistic used is t = X-μS/n follows a t distribution with n-1 degrees of freedom From the t table corresponding to 0.05 probability, the critical value tα =1.6766. Hence the critical region is t < -1.6766. Alternatively, we reject the null hypothesis, if the p value is less than the significance level Substituting the value we get t = 43.74-5014.6396/50 = -3.02 The p value corresponding to t = -3.02 and 49 d.f.
Drew’s basis in the residence is: Question 2. (TCOs 3, 4, 5, & 7) In the current year, Galaxy Corporation, a closely held C corporation that is not a personal service corporation, has $80,000 of passive losses, $60,000 of active business income, and $10,000 of portfolio income. How much of the passive loss may Galaxy deduct in the current year? Question 3. (TCOs 3, 4, 5, & 7) Dorothy holds two jobs.
ACCT 557 Quiz 2 Purchase here http://chosecourses.com/ACCT%20557/acct-557-quiz-2 Product Description 1. (TCO B) As a result of differences between depreciation for financial reporting purposes and tax purposes, the financial reporting basis of Noor Co.'s sole depreciable asset, acquired in Year 1, exceeded its tax basis by $250,000 at December 31, Year 1. This difference will reverse in future years. The enacted tax rate is 30% for Year 1, and 40% for future years. Noor has no other temporary differences.
If she were to move to another state where her marginal state rate would be 10 percent, would her choice be any different? Assume that Dana itemizes deductions. When the state rate is 5 percent, Dana would achieve the following returns from the Treasury bond or the corporate bond: The Treasury bond yields $1,125 or $30,000 x [.05 x (1-.25)] after tax. The corporate bond yields $1,282.50 or $30,000 x [.06 x (1 - .25 - .05(1-.25))] after tax. Note that the actual state rate is reduced by 25% to allow for the deductibility of state income taxes on the federal income tax return.
1. If the Hunter Corp. has an ROE of 13 and a payout ratio of 30 percent, what is its sustainable growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Sustainable growth rate ____% 2. The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 6,700 Assets $22,050 Debt $ 8,050 Costs 3,850 Equity 14,000 Net income $ 2,850 Total $22,050 Total $22,050 Assets and costs are proportional to sales.
| Math 103 Final Project – Parts 1, 2, and 3 | | | Math 103 Instructor: Toni Robertson December 11, 2010 Math 103 Instructor: Toni Robertson December 11, 2010 Part 1: 1a. What is the shortest loan (36 months, 48 months, 60 months or 72 months) that has a monthly payment within your $500 budget that will allow you to buy the $15,000 car? Answer: Through Bank of America, I found a rate of 2.99% for the 36, 48 and 60 month loans. We are able to put down 20% and will need to finance $12,000. The shortest loan period for the $15,000 car that would be under our $500 limit is the 36 month loan at a rate of $348.93 per month.
Y=0.0647(20) + 0.5734=1.294 + 0.5734=1.8674 $1.87 * What are the residuals of each year? * Select a current price that you have seen or paid recently for gas. Is that price within the range of the linear regression line or is it an outlier? Is it within the confidence interval of 5% or either end? $3.42 It is not within the linear regression line, it would be considered an outlier and out of the range of the confidence interval.
ASX & Media Release Thursday 12 September 2013 Myer Full Year Results ending 27 July 2013 Full year total sales up 0.8 percent to $3,145 million Operating gross profit up 1.8 percent to $1,312 million Operating gross margin up 40 basis points to 41.7 percent Net profit after tax down 8.7 percent to $127 million Full year dividend of 18 cents, fully franked FY2013 Financial Highlights Sales Total sales up 0.8% to $3,145 million, up 0.4% on a comparable store sales basis Myer Exclusive Brands sales up $40 million to 20.0% of sales, Concessions up $18 million to 15.4% of sales Operating gross profit Operating gross profit up 1.8% to $1,312 million Operating gross profit margin up 40 basis points (bps) to 41.7% Earnings Cost of doing
| | | | b) | $3,000 LTCG. | | | | c) | $11,000 LTCG. | | | | d) | Loan basis of $10,000. | | Hide Feedback | | | RATIONALE: The $11,000 distribution reduced the $10,000 income, so there is no “net increase” to be applied to the loan basis. Thus, the $11,000 distribution reduces the new $10,000 stock basis to zero, with a $1,000 LTCG.