Jaydon Garden Jobs (JGJ) has been operating in Weston Super Mare since 2017 and has experiencedsteady growth over the last 5 years. It is currently bidding to landscape an area of parkland in Worleand if successful, could lead to further business for JGJ. It is important that JGJ puts together acompetitive bid. The initial estimate was provided by using the market prices and standard charges,which are stored on the business's automated ordering system:£Soil800Wood1,800Plants2,400Water Feature3,200Labour1,500Equipment600Overheads1,100TOTAL COST11,400The following information has also been provided:1. The company maintains a stock of soil as it is used on almost every job. It has enough in stock forthis project. The cost of soil has now risen by 10%.2. The company has enough wood left over from another job. The company has no other use for thiswood and was planning to sell to a local timber merchant for £1,200.3. The price for the plants quoted in the above estimate is the current market value. However, thecompany has some plants left over from a previous job which it has just finished, this amounts tohalf of the plants which it requires. If it does not use these plants, they will have to be disposed andthrown away.4. The water feature is the price quoted from their normal supplier.5. JGJ currently has no spare capacity within their workforce and therefore two additional labourerswill need to be hired. They will be paid £20 per hour, and each will work 25 hours on the project.6. The equipment is a mini digger and the £600 represents the depreciation charge on this equipmentfor the project period. If the project is not undertaken, the equipment could be loaned out wouldearn JGJ £400.7. The overheads represent the standard charge which JGJ applies to all jobs to help recover generaloverheads.Required:Using relevant costing, produce a revised cost estimate for JGJ for the landscaping project.You are required to provide a schedule showing the revised cost estimate for each item along witha brief explanation why you have OR have not included it.

A revised cost estimate is a comprehensive estimate created when the initial sanctioned estimate…

Jaydon Garden Jobs (JGJ) has been operating in Weston Super Mare since 2011 steady growth over the last 5 years. It is currently bidding to landscape an area and if successful, could lead to further business for JGJ. It is important tha competitive bid. The initial estimate was provided by using the market prices : which are stored on the business's automated ordering system: £ Soil 800 Wood 1,800

Jaydon Garden Jobs (JGJ) has been operating in Weston Super Mare since 2011 steady growth over the last 5 years. It is currently bidding to landscape an area and if successful, could lead to further business for JGJ. It is important tha competitive bid. The initial estimate was provided by using the market prices : which are stored on the business's automated ordering system: £ Soil 800 Wood 1,800

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter6: Statistical Inference

Section: Chapter Questions

Problem 43P: The Port Authority sells a wide variety of cables and adapters for electronic equipment online. Last...

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Lewis Securities Inc. has decided to acquire a new market data and quotation system for its Richmond home office. The system receives current market prices and other information from several online data services and then either displays the information on a screen or stores it for later retrieval by the firm's brokers. The system also permits customers to call up current quotes on terminals in the lobby. The equipment costs $1,000,000 and, if it were purchased, Lewis could obtain a term loan for the full purchase price at a 10% interest rate. Although the equipment has a 6-year useful life, it is classified as a special-purpose computer and therefore falls into the MACRS 3-year class. If the system were purchased, a 4-year maintenance contract could be obtained at a cost of $20,000 per year, payable at the beginning of each year. The equipment would be sold after 4 years, and the best estimate of its residual value is $200,000. However, because real-time display system technology is…
Lewis Securities Inc. has decided to acquire a new market data and quotation system for its Richmond home office. The system receives current market prices and other information from several online data services and then either displays the information on a screen or stores it for later retrieval by the firm’s brokers. The system also permits customers to call up current quotes on terminals in the lobby. The equipment costs $1,000,000 and, if it were purchased, Lewis could obtain a term loan for the full purchase price at a 10% interest rate. Although the equipment has a 6-year useful life, it is classified as a special-purpose computer and therefore falls into the MACRS 3-year class. If the system were purchased, a 4-year maintenance contract could be obtained at a cost of $20,000 per year, payable at the beginning of each year. The equipment would be sold after 4 years, and the best estimate of its residual value is $200,000. However, because real-time display system technology is…
Lewis Securities Inc. has decided to acquire a new market data and quotation system for its Richmond home office. The system receives current market prices and other information from several online data services and then either displays the information on a screen or stores it for later retrieval by the firm’s brokers. The system also permits customers to call up current quotes on terminals in the lobby.The equipment costs $1,000,000 and, if it were purchased, Lewis could obtain a term loan for the full purchase price at a 10% interest rate. Although the equipment has a 6-year useful life, it is classified as a special-purpose computer and therefore falls into the MACRS 3-year class. If the system were purchased, a 4-year maintenance contract could be obtained at a cost of $20,000 per year, payable at the beginning of each year. The equipment would be sold after 4 years, and the best estimate of its residual value is $200,000. However, because real-time display system technology is…
Lewis Securities Inc. has decided to acquire a new market data and quotation system for its Richmond home office. The system receives current market prices and other information from several online data services and then either displays the information on a screen or stores it for later retrieval by the firm’s brokers. The system also permits customers to call up current quotes on terminals in the lobby. The equipment costs $1,000,000 and, if it were purchased, Lewis could obtain a term loan for the full purchase price at a 10% interest rate. Although the equipment has a 6-year useful life, it is classified as a special-purpose computer and therefore falls into the MACRS 3-year class. If the system were purchased, a 4-year maintenance contract could be obtained at a cost of $20,000 per year, payable at the beginning of each year. The equipment would be sold after 4 years, and the best estimate of its residual value is $200,000. However, because real-time display system technology is…
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The Port Authority sells a wide variety of cables and adapters for electronic equipment online. Last year the mean value of orders placed with the Port Authority was 47.28, and management wants to assess whether the mean value of orders placed to date this year is the same as last year. The values of a sample of 49,896 orders placed this year are collected and recorded in the tile PortAuthority. a. Formulate hypotheses that can be used to test whether the mean value of orders placed this year differs from the mean value of orders placed last year. b. Use the data in the file PortAuthority to conduct your hypothesis test. What is the p value for your hypothesis test? At = 0.01, what is your conclusion?