Identify the accounting concept that was violated in each of the following situations. 1. Astro Turf Company recognizes an expense, cost of goods sold, in the period the product is….
What will be the annual savings in crash costs due to the proposed improvements to the facility?
highway under base conditions (12-ft lanes, 6-ft shoulders, 55-mi/h freeflow
speed) may be estimated as:
The existing fifteen-mile segment, however, only has 11-ft lanes, 2-ft shoulders,
and a 45 mi/h free-flow speed. Local calibrations have determined that Crash
Modification Factors (CMFs) for the three non-standard conditions of the existing
It may be assumed that 90% of all crashes are affected by the lane width, shoulder
width, and free-flow speed conditions. It is proposed to upgrade the fifteen-mile segment to bring it to base conditions. What will be the observed crash frequency per year for the existing and proposed highway?
Assume that in both cases, 1.5% of all accidents are fatal, 5% involve disabling injuries, 10% involve evident injuries, and 2% involve possible injuries. Remaining accidents fall into the category of Property Damage Only (PDO). What will be the annual savings in crash costs due to the proposed improvements to the facility?