On average, how long will a machine have to wait before it is fixed?
In a factory, machines breakdown at an average of 6 machines per hour according to a Poisson distribution. The time a repair person takes to repair the machine is not defined by any probability distribution, but has a mean of 8 minutes and a standard deviation of 3 minutes.
Answer: Wq = 0.3 hour or 18.25 minutes
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Mercedes Company paid $20,000,000 to acquire 100% of the outstanding common stock of Benz Incorporated on January 1, 2018. The book value of Benz's net assets on the date of acquisition was $17,000,000. Benz's buildings were undervalued by $1,500,000 as of January 1, 2018; the buildings had a ten-year remaining life as of the date of acquisition. There are no other book-to-fair value differences for the other assets and liabilities of Benz. Mercedes retained earnings as of January 1, 2018 was $5,750,000, while Benz reported retained earnings of $3,175,000. Mercedes net income was $1,750,000 during 2018 and was $2,035,000 during 2019; the 2018 and 2019 net income amounts did not include any amounts pertaining to the Benz investment. Benz's retained earnings increased $1,050,000 from
January 1, 2018 to December 31, 2019 even though Benz declared $225,000 of dividends during that two-year period.Required:Determine the December 31, 2019 consolidated retained earnings balance. What will be an ideal response?
Which of the following is a general guideline that serves as a foundation for a personal code of business ethics?
A) Personal selling is a stepping stone to more legitimate careers. B) Be honest with yourself and with others. C) Tasks come first, relationships second. D) Your values should not be in conflict with those of your employer. E) Selling is about controlling the interaction and managing the relationship.
Which of the following statements about the idea evaluation step is FALSE?
A. This step should gather enough information to help decide whether there is an opportunity. B. Product planners can compare the cost advantages and limitations of a new product with those currently being used. C. Companies can often estimate likely costs, revenue, and profitability at this stage. D. Product tests with customers are used to revise the early versions of the product.
Partnerships may maintain their capital accounts according to which of the following rules?
A. GAAP. B. 704(b). C. Only GAAP and 704(b). D. Any of the rules. E. Tax.