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NemiM [27]
3 years ago
7

Engineers at a tire manufacturing company investigated the effect of a new rubber compound on the tire life of a certain brand o

f tires. From a sample of 16 tires, the engineers constructed a 99 percent confidence interval for the mean tire life, in miles, as 62,550±2,026. Suppose the company intends to claim a maximum tire life for advertising purposes. Based on the interval, of the following, which is the maximum plausible value for the mean tire life, in miles?
Business
1 answer:
Naya [18.7K]3 years ago
7 0

64,576 miles.

Explanation:

When the companies advertise their new products they want to present the product in the best possible light as possible. This is due to edging out the competition as in many products small details make a huge difference. The same is the case with the tires and their endurance. The longer way a set of tires takes you the better, since they are expensive product so changing them less often is very beneficial.

In this case, the interval for the mean tire life varies by 2,026 from 62,550, both up and down. The minimum will be 60,524 miles, while the maximum a tire can pass is 64,576. The company will of course go for the maximum value to make the product look as attractive and as good as possible to the customers.

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During 2013, Winston Corporation spent $170,000 in research and development costs. As a result, a new product called the New Age
Musya8 [376]

Answer:

(A)

Development 170,000 debit

   Cash                                   170,000 credit

to recognize development cost

(B)

New Age Piano patent 188,000 debit

   Development                          170,000 credit

   Cash                                          18,000 credit

to record the patent of the new product

(C)

Amortization expense  4,700 debit

  New Age Piano patent          4,700 credit

to record amortization for the year 2013

(D)

Amortization expense  18,800 debit

  New Age Piano patent          18,800 credit

to record amotization for the year 2014

Explanation:

(A) The development cost are capitalized

(B) We should capitalize all the cost necesary to the use of the patent

So we add both, the development and the legal fees

170,000 development and research

 18,000 legal fees

188,000 total

(C)

<u>Striaght-line amortization </u>

188,000 / 10 year = 18,800 amortization per year

We use the useful life, not the legal life, as the product will be used for this period.

partial amortization for 2013

18,800 x 3/12 = 4,700

(D)

amortization for 2014

18,800 complete year

4 0
3 years ago
Due to an uncertainty whether or not a new tax is applicable to printing companies, ABC Printers submitted a legal query to the
liubo4ka [24]

Answer:

No, a reversal of a ruling shall not be given a retroactive application if it will be prejudicial to the taxpayer.

Explanation:

Based on the information provided it can be said that No, a reversal of a ruling shall not be given a retroactive application if it will be prejudicial to the taxpayer. Meaning that the BIR can not assess ABC Printers for back taxes because ABC Printers was following the rulings made by BIR at that time correctly, the change in ruling applies to taxes only after the change has been made and not before. Therefore as long as ABC Printers begins paying taxes now, then the BIR has no standing.

8 0
3 years ago
which of the following is the features of memorandum. (a) no salutation (b) dear ma/sir (c) it contains letter headed paper (d)
Stolb23 [73]

Answer:

a. no salutations

Explanation:

the main feautures of a memorandum are;

  1. no inside address (address of the addressee)
  2. no complimentary close
  3. no salutations and most often
  4. the signature of the sender is omitted
7 0
3 years ago
On October 1, Kelly Company received $25,500 for six months of rent, in advance. Kelly credited Rent Revenue, which is an altern
Nikitich [7]

Answer: The effect will be that the results will be distorted by registering a gain in the incorrect period, since 3 months correspond to the current year, from October-December and the rest corresponds from January-March of the following year.

The correct way to record these 3 months is as a liability (deferred income) when the income is realized they are taken to the income statement.

7 0
3 years ago
Malaysia and Laos are members of the same trading bloc that promotes trade and economic integration among member nations in the
Mademuasel [1]

Answer:

The Association of Southeast Asian Nations (ASEAN)

Explanation:

The Association of Southeast Asian Nations (ASEAN) is a regional intergovernmental organization comprising of Singapore, Brunei, Malaysia, Thailand, Philippines, Indonesia, Vietnam, Laos, Cambodia, and Myanmar. It promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.

3 0
2 years ago
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