Returns and standard deviations [lo1] consider the following information: state of economy probability of state of economy rate of return if state occurs stock a stock b stock c boom good poor bust .10 .60 .25 .05 .35 .16 −.01 −.12 .40 .17 −.03 −.18 .27 .08 −.04 −.09 page 453 your portfolio is invested 30 percent each in a and c, and 40 percent in b. what is the expected return of the portfolio? what is the variance of this portfolio? the standard deviation? 11. calculating portfolio betas [lo4] you own a stock portfolio invested 20 percent in stock q, 30 percent in stock r, 35 percent in stock s, and 15 percent in stock t. the betas for these four stocks are .79, 1.23, 1.13, and 1.36, respectively. what is the portfolio beta?

Exercise 8-6 goods in transit [lo8-2] the kwok company's inventory balance on december 31, 2016, was $190,000 (based on a 12/31/16 physical count) before considering the following transactions: 1. goods shipped to kwok f.o.b. destination on december 20, 2016, were received on january 4, 2017. the invoice cost was $35,000. 2. goods shipped to kwok f.o.b. shipping point on december 28, 2016, were received on january 5, 2017. the invoice cost was $22,000. 3. goods shipped from kwok to a customer f.o.b. destination on december 27, 2016, were received by the customer on january 3, 2017. the sales price was $45,000 and the merchandise cost $27,000. 4. goods shipped from kwok to a customer f.o.b. destination on december 26, 2016, were received by the customer on december 30, 2016. the sales price was $25,000 and the merchandise cost $18,000. 5. goods shipped from kwok to a customer f.o.b. shipping point on december 28, 2016, were received by the customer on january 4, 2017. the sales price was $30,000 and the merchandise cost $17,000. required: determine the correct inventory amount to be reported in kwok's 2016 balance sheet.

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.

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