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Atlantic Video, a small video rental store in Philadelphia, is open 24 hours a day, and-due to its proximity to a major business school-experiences customers arriving around the clock. A recent analysis done by the store manager indicates that there are 30 customers arriving every hour, with a standard deviation of interarrival times of 2 minutes. This arrival pattern is consistent and is independent of the time of day. The checkout is currently operated by one employee, who needs on average 1.7 minutes to check out a customer. The standard deviation of this check-out time is 3 minutes, primarily as a result of customers taking home different numbers of videos.If you assume that every customer rents at least one video (i.e., has to go to the checkout), what is the average time a customer has to wait in line before getting served by the checkout employee, not including the actual checkout time (within 1 minute)?If there are no customers requiring checkout, the employee is sorting returned videos, of which there are always plenty waiting to be sorted. How many videos can the employee sort over an 8-hour shift (assume no breaks) if it takes exactly 1.5 minutes to sort a single video?What is the average number of customers who are at the checkout desk, either waiting or currently being served (within 1 customer)?Now assume for this question only that 10 percent of the customers do not rent a video at all and therefore do not have to go through checkout. What is the average time a customer has to wait in line before getting served by the checkout employee, not including the actual checkout time (within 1 minute)? Assume that the coefficient of variation for the arrival process remains the same as before.As a special service, the store offers free popcorn and sodas for customers waiting in line at the checkout desk. (Note: The person who is currently being served is too busy with paying to eat or drink.) The store owner estimates that every minute of customer waiting time costs the store 75 cents because of the consumed food. What is the optimal number of employees at checkout? Assume an hourly wage rate of $10 per hour.
Mark Wilson, chief of personnel, has been instructed to increase the hiring of women at the Morton Cement Company.
How many shares does Bob own in Brown Corporation assuming the same facts as in a., above, augmented by BZ's ownership of Brown shares?
During 2014, Shipley distributed a dividend in the amount of $120,000 and at year-end reported a $320,000 net income. Any difference between implied and book value relates to subsidiary goodwill. Pioneer Company uses the equity method to record it..
George contributed $3,000 (food, shelter, and medical care) toward the support of his nephew, Andy, who lives with him. Andy earned $1,000 from a part-time job and received a $2,000 scholarship to attend a local university. Can George claim Andy a..
Sam has, however, made an election to not have the uniform capitalization rules apply to the farming business. Sam does elect not to take additional first-year depreciation. Determine the cost recovery deduction for 2009.
Joe's boxed fruit expects sales of $1,800 next year. the profit margin is 6 percent and the firm has a 40 percent dividend payout ratio. What is the projected increase in retained earnings?
Overhead cost is applied to units based on direct labor hours. For April, total overhead cost was budgeted at $80,000 based on a denominator activity level of 20,000 direct labor hours for the month.
A business pays weekly salaries of $15,000 on Friday for a 5-day week ending on day. The adjusting entry require at the end of fiscal period ending on Thursday is;
Thelma's reported net income for 2006 was $119,000. What is the noncontrolling interest's share of Thelma's net income?
Auditing standards discuss fraud in details. What is your impression of the auditor's responsibility to discover it? Do you make a distinction between responsibility regarding management fraud versus employee fraud?
An example of an economic entity is a:a. town. b. business. c. nonprofit hospital. d. church
The Acme Company has an $8,000,000 balance in accounts receivable. Their CPA believes that there are very few misstatements. Which of the following would the CPA use to audit the account?
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