a one and half page summary of an article on  a  topic that relevant to financial accounting . Also write you opinion about the article. 

Contract Law

You are managing a project that is just barely within budget. You are confused because you know that your bid was high enough to produce a nice profit. You make a trip to the field to discuss the issue with the superintendent. At the site, you discover that the project owner’s and architect’s representatives have been communicating directly with your superintendent, giving verbal directions for corrections to the work. The superintendent has been dutifully correcting the work and charging the budget for the corrections. As you research the work, you find that the work is not deficient but that the corrections are minor changes to the design. You value this owner as a client but also value your job.

What are the ramifications of this situation? What steps do you think you should take to rectify the situation? While responding to the question, consider each of the parties (the owner, architect, engineer, and superintendent) involved in the project. Describe the details of each step with reference to contract law, where appropriate.

Write your answers in a 3 to 4 page Microsoft Word document.

Cite any sources using APA format on a separate page

Week 2 Assignment 1. What is the probability of rolling a four in the gambling dice game of craps (given two six sided dice)? What is the probability that a player can roll a four 3 times in a row (assume that rolling the dice each time does not affect the outcome of the next roll)? 2. Population A and Population B both have a mean height of 70.0 inches with an SD of 6.0. A random sample of 30 people is picked from population A, and random sample of 50 people is selected from Population B. Which sample mean will probably yield a more accurate estimate of its population mean? Why? 3. Suppose we obtained data on vein size after application of a nitroglycerin ointment in a sample of 50 patients. The mean vein size is found to be 7.8mm with an SD of 2.1. Using a t distribution table, what are the confidence limits for a 95% confidence interval? For a 99% confidence interval? 4. In a pilot study evaluating the use of a new drug to lower resting heart rates (HR) of patients, the following data was recorded: Subject # Resting HR 001 72 002 88 003 71 004 87 005 64 006 77 007 79 008 59 009 66 010 68 011 78 012 89 013 91 014 81 015 77 016 75 017 69 Given that the average resting HR of the general population for this study is 72, use StatCrunch to perform the appropriate t test. What is the value of t? Using an alpha of 0.05, is the t statistic significant? Why? What are the confidence limits for a 95% confidence interval here and what do they mean for this patient group? Copy and Paste your work from StatCrunch into your Word document submission. 5. Write one or two sentences that could be used to report the results obtained for the t test in Exercise 4. 6. For which of the following situations is the independent groups t test appropriate (if inappropriate, why?): a. The independent variable is infant birth weight at one week (normal vs high); the dependent variable is resting heart rate. b. The independent variable is radiation treatment on throat cancer patients (after a low dose and then a high dose treatment); the dependent variable is white blood cell count. c. The IV is infant birth weight (low vs normal birth weight); the DV is number of days absent from school in first grade. d. The IV is gender (male vs female); the DV is compliance vs noncompliance with a medication regimen. e. The independent variable is married status (single vs divorced vs married); the dependent variable is happiness measured on a scale from 1 to 50 7. For which of the following situations is the dependent groups t test appropriate (if not appropriate, why?) a. The IV is presence or absence of conversation directed to comatose patients (same patients with and without conversation); the DV is the patients’ intracranial pressure. b. The IV is birth type (home vs hospital); the DV is perceived functional ability of the patient 48 hours after surgery. c. The IV is time since incarceration (1 months vs 3 months vs 6 months); the DV is body weight. d. The IV is menopausal state (pre vs post); the DV is attitudes toward menopause. e. The IV is nap therapy for narcoleptics (same patients before vs after treatment); the DV is the type of nap they had the following week (had unplanned vs didn’t have unplanned nap). 8. Suppose we wanted to test the hypothesis that a control group of cancer patients (Group 1) would report higher mean pain ratings than an experimental group receiving special massage treatments (Group 2). Use the following information. Compute a t statistic for independent groups: mean group 1 = 78.1 SD21 = 42.1 n1 = 25 mean group 2 = 75.1 SD22 = 39.7 n2=25 What are the degrees of freedom and the value of t ? Using α=0.05 for a two tailed test, is this t statistic significant? Show your calculations (or StatCrunch output) for full credit. 9. Write one or two sentences that could be used to report the results obtained for the t test in Exercise 8. 10. For each of the following t values, indicate whether the t is statistically significant for a two tailed test, at the specified alphas: a. t = 2.90, df = 25, α = 0.01 b. t = 2.00, dr = 25, α = 0.05 c. t = 5.52, df = 10, α = 0.01 d. t = 2.02, df = 150, α = 0.05 11. For each of the following situations, indicate whether ANOVA is appropriate; if not appropriate, the reason why not; and, if appropriate, the type of ANOVA that would be used (i.e., one way, repeated measures, etc.) a. The IVs are ethnicity (Asian, White, African American, Hispanic) and gender (male vs female); the DV is serum cholesterol levels. b. The IV is smoking status – smokers vs non smokers; the DV is health related hardiness as measured on a 20 item scale. c. The IV is maternal breast feeding status (breastfeeds daily vs breastfeeds at least 1 3 times/week vs doesn’t breastfeed); the DV is maternal bonding with infant, as measured on a 20 item self report scale. d. The IV is treatment group for patients with drug induced shivering (extremity wraps vs high room temp vs normal room temp without wraps) same patient used for each treatment; the DV is myocardial oxygen consumption, measured before and after treatment. e. The IV is length of gestation (preterm vs term vs postterm); the DV is delivery type (vaginal vs Caesarean). 12. Suppose we wanted to compare the somatic complaints (as measured on a scale known as the Physical Symptom Scale or PSS) of three groups of people: non smokers, smokers, and people who recently quit smoking. Using the following data for PSS, do a one way ANOVA to test the hypothesis that the population means are equal: Nonsmokers Smokers Quitters 19 31 30 28 29 22 17 22 23 20 24 22 25 19 17 Using StatCrunch, determine the means for the three groups and compute the sums of squares, degrees of freedom, and mean squares for these data. What is the value of F? Using an alpha of 0.05, is the F statistic significant? Why? Copy and Paste your work from StatCrunch into your Word document submission. 13. A new motorcycle is being developed to meet new gas mileage standards recently passed by the federal government. An engineer tested three model designs by randomly assigning the motorcycles in a blind study (the riders recorded the mileage but did not know the design of the motorcycle, only its code). The data in miles per gallon (MPG) for the three designs is listed below: X 1 B 1 Z 1 45 55 54 62 55 52 50 54 41 65 44 35 62 52 38 50 69 41 50 58 51 58 45 44 Using StatCrunch, determine the means for the three groups and compute the sums of squares, degrees of freedom, and mean squares for these data. What are the hypotheses to be tested here? What is the value of F? Using an alpha of 0.05, is the F statistic significant? Why? Copy and Paste your work from StatCrunch into your Word document submission for full credit. 14. For each of the following F values, indicate whether the F is statistically significant at the specified alpha level: a. F = 4.80, df = 4, 40 α = 0.01 b. F = 5.02, df = 3, 60, α = 0.001 c. F = 3.45, df = 3, 27, α = 0.05 d. F = 4.99, df = 2, 150, α = 0.01 e. F = 2.09, df = 2, 250, α = 0.05

Inventory Finlon Upholstery Inc. uses a job order costing system to accumulate manufacturing costs. The company’s work in process on December 31, 2001, consisted of one job (no. 2077), which was carried on the year end balance sheet at $156,800. There was no finished goods inventory on this date. Finlon applies manufacturing overhead to production on the basis of direct labor cost. (The budgeted direct labor cost is the company’s practical capacity, in terms of direct labor hours multiplied by the budgeted direct labor rate.) Budgeted totals for 2002 for direct labor and manufacturing overhead are $4,200,000 and $5,460,000, respectively. Actual results for the year are as follows:

 

Actual Results Direct Materials Used $5,600,000.00

Direct Labor $4,350,000.00

Indirect Material Used $65,000.00

Indirect Labor $2,860,000.00

Factory Depreciation $1,740,000.00

Factory Insurance $59,000.00

Factory Utilities $830,000.00

Selling and Administrative Expenses $2,160,000.00

Total $17,664,000.00

 

Job no. 2077 was completed in January 2002, and there was no work in process at year end. All jobs produced during 2002 were sold with the exception of Job no. 2143, which contained direct material costs of $156,000 and direct labor charges of $85,000. The company charges any under or over applied overhead to the cost of goods sold category. Using the above information, do the following:

Calculate the company’s predetermined overhead application rate.

Calculate the additions to the work in process inventory account for the direct material used, direct labor, and manufacturing overhead.

Calculate the finished goods inventory for the 12/31/02 balance sheet.

Calculate the over applied or under applied overhead at year end.

Explain if it is appropriate to include selling and administrative expenses in the cost of goods sold category.

 

Perform your calculations in an Excel spreadsheet and copy the calculations into a Word document. Write a 1 page paper in Word format. Apply APA standards to citation of sources.

 

Grading Criteria
Calculated the company’s predetermined overhead application rate.	24
Calculated the additions to the work in process inventory account for the direct material used, direct labor, and manufacturing overhead.	16
Calculated the finished goods inventory for the balance sheet dated 12/31/02.	20
Calculated the over applied or under applied overhead at year end.	20
Explained if it is appropriate to include the selling and administrative expenses in the cost of goods sold category.	12
Wrote in a clear, concise, and organized manner; demonstrated ethical scholarship in accurate representation and attribution of sources; and displayed accurate spelling, grammar, and punctuation.	8
Total:	100