Identify the error in the stated conclusion.

Given: There is a linear correlation between state average commuting times and state average commuting costs. Conclusion: There is a linear correlation between individual commuting times and individual commuting costs.

You have $25 to buy trading cards online. each pack of cards costs$4.5. Shipping costs $2.95. Write and solve an inequality to find the number of packs of trading cards you can buy.

Blanchard Company manufactures a single product that sells for $\$ 180$ per unit and whose total variable costs are $\$ 135$ per unit. The company's annual fixed costs are $\$ 562,500$. Management targets an annual pretax income of $\$ 1,012,500$. Assume that fixed costs remain at $\$ 562,500$. Compute the (1) unit sales to earn the target income and (2) dollar sales to earn the target income.

Find expressions for the revenue, cost, and profit from selling x thousand items.

$$\begin{array}{lll} \text{Item Price} & \text{Fixed Costs} & \text{Variable Costs}\\ \$5.00 & \$200,000 & 1800x \end{array}$$

A bus ride costs $1.75 and a commuter train ride costs$6.50. A monthly transportation pass including unlimited bus rides and train rides costs the same as $30$ bus rides plus $20$ train rides.

Justify why the equation $1.75 b+6.50 t=182.50$ models the possible combinations of bus and train rides that equal the cost of the transportation pass.

Find expressions for the revenue, cost, and profit from selling x thousand items.

$$\begin{array}{lll} \text{Item Price} & \text{Fixed Costs} & \text{Variable Costs}\\ \$8.50 & \$225,000 & 4200x \end{array}$$

For the cost incurred in a manufacturing firm shown below, indicate whether the cost is fixed (F) or variable (V) and whether it is period costs (P) or product costs (M) under full absorption costing:
 Depreciation on pollution control equipment in the plant.

Porter Corporation has fixed costs of $\$ 660,000$, variable costs of $\$ 24$ per unit, and a contribution margin ratio of 40 percent.

Compute the following:

a. Unit sales price and unit contribution margin for the above product.

A company that manufactures compact discs has fixed monthly overhead costs of $\$ 60,000$. Each disc costs $\$ 0.18$ to produce and sells for $\$ 0.30$.

b. Write the revenue function, $R$, from the sale of $x$ discs per month.

Suppose that you and your roommate have started a bagel delivery service on campus. List some of your fixed costs and describe why they are fixed. List some of your variable costs and describe why they are variable.

Consider the following pairs of loan options for a $\$ 120,000$ mortgage. Calculate the monthly payment and total closing costs for each option. Explain which option you would choose and why.

Choice $1$: $30$-year fixed rate at $3.5 \%$ with closing costs of $\$ 1000$ and no points

Choice $2$: $30$-year fixed rate at $3 \%$ with closing costs of $\$ 1500$ and $4$ points

Lawrence Company is a manufacturer of contemporary door handles. The vice president of Design attends home shows twice a year so the company can keep current with home trends. Because of its volume, Lawrence uses process costing to account for production. Costs and output figures for August are as follows:

$$\begin{matrix} \text{Lawrence Company's Process Costing for the Month Ended August 31, 2017}\\ & \text{Units} & \text{Direct Materials} & \text{Conversion Costs}\\ \text{Standard cost per unit} & \text{} & \text{\$5.75} & \text{\$12.25}\\ \text{Work in process, beginning inventory (Aug. 1)} & \text{15,000} & \text{\$86,250} & \text{\$55,125}\\ \text{Degree of completion of beginning work in process} & \text{} & \text{100\\\%} & \text{30\\\%}\\ \text{Started in August} & \text{100,000}\\ \text{Completed and transferred out} & \text{95,000}\\ \text{Work in process, ending inventory (Aug. 31)} & \text{20,000}\\ \text{Degree of completion of ending work in process} & \text{} & \text{100\\\%} & \text{80\\\%}\\ \text{Total costs added during August} & \text{} & \text{\$569,000} & \text{\$1,307,240}\\ \end{matrix}$$

1. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. 2. Compute the total standard costs of handled transferred out in August and the total standard costs of the August 31 inventory of work in process. 3. Compute the total August variances for direct materials and conversion costs. 4. Prepare summarized journal entries to record both the actual costs and standard costs for direct materials and conversion costs, including the variances for both production costs.

Brent Custom Products pays 7.6% annual interest on one-half of its $3,000,000 annual inventory value. It also pays 0.65 % personal property tax on the total value of inventory . Other carrying costs include$26,000 insurance , $51,000 in labor costs, and$19,000 in overhead costs. What is the carrying cost per $1 of annual inventory , to the nearest tenth of a cent?

Explain how a police officer at the scene of a car crash can judge whether or not you were speeding when you rear-ended a stopped car, based solely on the length of the skid marks after the collision. Is the speed the officer estimates for your speed just before the collision faster than, equal to, or slower than your actual speed?