31. The weekly salary paid to employees of a small company that supplies part-time laborers averages +800 with a standard deviation of +600. | |
(a) If the weekly salaries are normally distributed, estimate the fraction of employees that make more than +300 per week. | |
(b) If every employee receives a year-end bonus that adds +200 to the paycheck in the final week, how does this change the normal model for that week? | |
mean | |
standard deviation | |
(c) If every employee receives a 10% salary increase for the next year, how does the normal model change? | |
mean | |
standard deviation | |
(d) If the lowest salary is +300 and the median salary is +500, does a normal model appear appropriate? |
31. The weekly salary paid to employees of a small company that supplies part-time laborers averages...
Continuing Payroll Problem, 2B: Chapter 2 Olney Company, Inc. is a small manufacturing firm located in Newtown, Pennsylvania. The company has a workforce of both hourly and salaried employees. Each employee is paid for hours actually worked during each week, with the time worked being recorded in quarter-hour increments. The standard workweek consists of 40 hours, with all employees being paid time and one-half for any hours worked beyond the 40 regular hours. Wages are paid every Friday, with one...
Continuing Payroll Problem, 2B: Chapter 2 Olney Company, Inc. is a small manufacturing firm located in Allentown, Pennsylvania. The company has a workforce of both hourly and salaried employees. Each employee is paid for hours actually worked during each week, with the time worked being recorded in quarter-hour increments. The standard workweek consists of 40 hours, with all employees being paid time and one-half for any hours worked beyond the 40 regular hours. Wages are paid every Friday, with one...
Continuing Payroll Problem, 2A: Chapter 2
Kipley Company is a small manufacturing firm located in
Pittsburgh, Pennsylvania. The company has a workforce of both
hourly and salaried employees. Each employee is paid for hours
actually worked during each week, with the time worked being
recorded in quarter-hour increments. The standard workweek consists
of 40 hours, with all employees being paid time and one-half for
any hours worked beyond the 40 regular hours.
Wages are paid every Friday, with one week's...
Dan Price, the founder of Gravity Payments, a small, privately owned company that provided high-service and low-cost credit card processing, surprised his 120-person staff when he announced that over the next three years he would raise the salary of all employees, even the lowest paid clerk, customer service representative, and salesperson, to a minimum of $70,000. The average annual salary at that time at Gravity was around $48,000, so the increase would nearly double some employees’ salaries. Price explained that...
How can we assess whether a project is a success or a
failure?
This case presents two phases of a large business transformation project involving the implementation of an ERP system with the aim of creating an integrated company. The case illustrates some of the challenges associated with integration. It also presents the obstacles facing companies that undertake projects involving large information technology projects. Bombardier and Its Environment Joseph-Armand Bombardier was 15 years old when he built his first snowmobile...
Required:
1. What is the amount of Apple’s accounts
receivable as of September 30, 2017?
2. Compute Apple’s accounts receivable turnover as
of September 30, 2017.
3. How long does it take, on average, for
the company to collect receivables for fiscal year ended September
30, 2017?
4. Apple’s most liquid assets include (a)
cash and cash equivalents, (b) short-term marketable
securities, (c) accounts receivable, and (d)
inventory. Compute the percentage that these liquid assets (in
total) make up of...