Bill has just returned from a duck hunting trip. he has brought home eight ducks. bill’s friend, john, disapproves of duck hunting, and to discourage bill from further hunting, john has presented with the following cost estimate per duck: camper and equipment: cost, $11,600; usable for eight seasons; 10 hunting trips per season $ 145.00 travel expense (pickup truck): 100 miles at $0.32 per mile (gas, oil, and tires—$0.22 per mile; depreciation and insurance —$0.10 per mile) 32.00 shotgun shells (two boxes) 40.00 boat: cost, $2,240, usable for eight seasons; 10 hunting trips per season 28.00 hunting license: cost, $60 for the season; 10 hunting trips per season 6.00 money lost playing poker: loss, $26 (bill plays poker every weekend) 26.00 bottle of whiskey: cost, $25 (used to ward off the cold) 25.00 total cost $ 302.00 cost per duck ($302.00 ÷ 8 ducks) $ 37.75required: 1. assuming that the duck hunting trip bill has just completed is typical, what costs are relevant to a decision as to whether bill should go duck hunting again this season? 2. suppose that bill gets lucky on his next hunting trip and shoots 10 ducks in the amount of time it took him to shoot 8 ducks on his last trip. how much would it have cost him to shoot last two ducks? explain.3. which costs are relevant in a decision of whether bill should give up hunting? explain.

Michigan mattress company is considering the purchase of land and the construction of a new plant. the land, which would be bought immediately (at t = 0), has a cost of $100,000 and the building, which would be erected at the end of the first year (t = 1), would cost $500,000. it is estimated that the firm's afterminustax cash flow will increase by $100,000 starting at the end of the second year, and that this incremental flow would increase at a 10 percent rate annually over the next 10 years. what is the approximate payback period?

Presented below is a list of possible transactions. analyze the effect of the 18 transactions on the financial statement categories indicated. transactions assets liabilities owners’ equity net income 1. purchased inventory for $80,000 on account (assume perpetual system is used). 2. issued an $80,000 note payable in payment on account (see item 1 above). 3. recorded accrued interest on the note from item 2 above. 4. borrowed $100,000 from the bank by signing a 6-month, $112,000, zero-interest-bearing note. 5. recognized 4 months’ interest expense on the note from item 4 above. 6. recorded cash sales of $75,260, which includes 6% sales tax. 7. recorded wage expense of $35,000. the cash paid was $25,000; the difference was due to various amounts withheld. 8. recorded employer’s payroll taxes. 9. accrued accumulated vacation pay. 10. recorded an asset retirement obligation. 11. recorded bonuses due to employees. 12. recorded a contingent loss on a lawsuit that the company will probably lose. 13. accrued warranty expense (assume expense warranty approach). 14. paid warranty costs that were accrued in item 13 above. 15. recorded sales of product and related service-type warranties. 16. paid warranty costs under contracts from item 15 above. 17. recognized warranty revenue (see item 15 above). 18. recorded estimated liability for premium claims outstanding.

At a small store, a customer enters the front door on average every 8 minutes. a prior study indicated that the time between customers entering the front door during weekdays follows an exponential distribution. what is the probability that the time between customers entering the store on a weekday will be less than or equal to 7? select one: a. 62 b. 43 c. 1/8 d. 7/8 e. 58