When a company assigns goodwill to a reporting unit acquired in a business combination, it must record an impairment loss if . 

Gray Inc. makes a product that uses a material with the following standards: Standard quantity 7.5 liters per unit Standard price $2.00 per liter Standard cost $15.00 per unit The company budgeted for production of 3,300 units in July, but actual production was 3,400 units. The company used 26,200 liters of direct material to produce this output. The company purchased 19,600 liters of the direct material at $2.1 per liter. The direct materials price variance is computed when the materials are purchased. The materials quantity variance for July is:

Hill Ltd’s contribution margin ratio is 16% and its fixed monthly expenses are $45,500. If the company’s sales for a month are $302,000, what is the best estimate of the company’s net operating income? Assume that the fixed monthly expenses do not change.

Two solid cylinders made of the same material are loaded (separately) in tension (in the elastic range) with the same axial load P.  The cylinders have the same diameter, but Cylinder A is twice as long as Cylinder B.  How do you expect the stresses and strains in these cylinders to compare?

East Ltd makes a product with the following standard costs:   Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 7.5 pounds $ 8.00 per pound $ 60.00 Direct labor 0.5 hours $34.00 per hour $ 17.00 Variable overhead 0.5 hours $5.00 per hour $ 2.50 In February the company’s budgeted production was 4,400 units but the actual production was 4,500 units. The company used 23,150 pounds of the direct material and 2,390 direct labor-hours to produce this output. During the month, the company purchased 26,400 pounds of the direct material at a cost of $180,180. The actual direct labor cost was $58,021 and the actual variable overhead cost was $11,231. The company applies variable overhead on the basis of direct labor-hours. The direct materials price variance is computed when the materials are purchased. The variable overhead rate variance for February is:

Penn acquired 100% of Senn’s stock when the book value of Senn’s net assets was $260,000. The fair value of Senn’s net assets was $275,000 on the acquisition date. Based on the preceding information, if Penn paid $285,000 for the acquisition, what amount of goodwill will be reported in consolidated financial statements presented immediately following the combination?

Run the following linear regression was run to predict Wins in the MLB from 2015-2023 (minus 2020) based on the following statistics: OPS: On-base percentage + Slugging percentage WHIP: Walks + hits given up per inning pitched (You can copy this code directly into your R session–and should have done so prior to the quiz) teams15_23 %filter(yearID >= 2015, yearID !=2020) %>%mutate(OBP = (H + BB + HBP)/(AB + BB + HBP + SF), SLG = (H + X2B + 2 * X3B + 3 * HR)/AB,OPS = OBP + SLG,WHIP = (BBA + HA)/(IPouts/3)) The standard deviations of OPS and WHIP are 0.037 and 0.096 respectively. If I could take an average team in OPS and WHIP to the 84th percentile (one standard deviation above or below average—since low WHIP is better) in one (and only one) of the two statistics, which would I prefer? (i.e., would I get more wins by increasing OPS by one standard deviation or decreasing WHIP by one standard deviation?)—Check Mathletics Ch. 18 (This isn’t as hard as you may think!) First, how many additional wins would I expect to get if I increased my team OPS by 1 standard deviation? Report your answer to 2 decimal places.

J. J. Spaun won the U.S. Open at Oakmont by shooting a birdie on 18.  This is a 502 yard par 4. We will assume the expected shots to hole out is 4.32 from the tee (this is the average over all rounds).  His shots are as follows: Blasts his drive 312 yards into the fairway.  He is about 190 yards out and his expected shots remaining from here is 3.1 Reaches the green in 2 but is 64 feet away from the hole.  His expected shots from here is 2.25. Sinks a miraculous putt from 64 feet away to finish at 1 under par for the tournament. What were the strokes gained from the putt? Enter negative for strokes lost (bad) and positive for a gain (good).

J. J. Spaun won the U.S. Open at Oakmont by shooting a birdie on 18.  This is a 502 yard par 4. We will assume the expected shots to hole out is 4.32 from the tee (this is the average over all rounds).  His shots are as follows: Blasts his drive 312 yards into the fairway.  He is about 190 yards out and his expected shots remaining from here is 3.1 Reaches the green in 2 but is 64 feet away from the hole.  His expected shots from here is 2.25. Sinks a miraculous putt from 64 feet away to finish at 1 under par for the tournament. What was his worst shot from a strokes gained perspective?

The traditional Pythagorean developed by Bill James used an exponent of 2 for baseball and we’ll use this exponent. In the 2024 season, the Guardians scored 708 runs and allowed 621 runs.  Let’s assume the lineup as constructed would repeat this output next year. Suppose the Guardians had their choice of 2 players: 1) Juan Soto: accounted for 58 more runs than an average player due to his batting and baserunning and ALLOWED the opponent to score 6 more runs than an average fielder would have (i.e., he increases runs scored by 58.4 and INCREASES runs allowed by 6) 2) Blake Snell: allowed 14 fewer runs than an average pitcher and has no effect on the batting as the pitcher spot doesn’t hit.   What would the Pythagorean predict as the win% for the Guardians if they replace an average player with Snell? Report your answer as a decimal to 4 places: i.e., 20.34% should be entered as .2034