...ACC 561 WEEK 4 A+ Graded Tutorial Available At: http://hwsoloutions.com/?product=week-4-2 Visit Our website: http://hwsoloutions.com/ Product Description ACC 561 Week 4, Bilici and Dalci (2008) state “the basic premise of ABC is products consume activities, activities consume resources and resources consume costs” (p. 63). The cost of a product comprises of direct labor, direct material, and overheads. Direct material and direct labor can be traced more easily to a particular product, but this is not the case for overheads, which is not easy to trace to a particular product when determining its product cost. Activity-based costing helps in allocating cost to the product according to the resources used by each activity (See Appendix A). The In-House Manufacturing Department The annual costs for R&D activities are broken up as follows: Market analysis $1,050,000 Product design $2,350,000 Product development $3,600,000 Prototype testing $1,400,000 R&D spends a total of $8,400,000. The cost drivers and their usage for the related activities: Activities Cost Drivers Total Estimated Drivers Market analysis Hours of analysis 15,000 hours Product design Number of designs 2,500 designs Product development Number of products 90 products Prototype testing Number of tests 500 tests When determining activities cost to the in-house manufacturing department, the cost per driver unit must be calculated (See Appendix B). The in-house manufacturing department...
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...Larson Inc. must consider the alternative economic futures for their industry. In any market, economic conditions will change over time. The company must be able to adapt and change with the economy to remain successful. The company needs to find solutions for the changing economy to keep increasing their revenue and decreasing their costs. The economy may go through a recession, expansion and peaks over their years in business. Larson, Inc. needs to analyze the difference scenarios and determine the best course of action for each type of economic future. Also, the company must consider the economy’s stage in the business cycle to make well-informed decisions. Economic projections The business cycle will have continual change and fluctuate over time. History has shown us how the economy goes through peaks, recessions, troughs, and expansion. It is important for all businesses to understand the concepts of macroeconomics and how the business cycle is affected. Larson, Inc. can plan for the changes to remain successful and innovative. The business cycle is determined by the changes in GDP or gross domestic product. The change in the GDP can occur from economic reasons such as changes in demand, taxes and interest rates. It can also change from non-economic reasons such as war or natural disasters. The company must be aware and analyze the different indicators of the changing economy. The recession, in which Larson Inc. is currently experiencing, is a normal...
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...Week 4: Costing Methods The week four individual paper addresses the implementation of Activity Based Costing (ABC) by Super Bakery, Inc., a virtual corporation founded by Franco Harris. Specifically, management strategies, the reasoning behind an ABC system, and the alternatives of a job order cost system or a process order cost system are assessed for this enterprise. Management Strategies A virtual corporation is described as a technology-linked network of companies, suppliers, and customers that are used by a company to outsource non-strategic business functions (Hershkovitz, 2012). The management of Super Bakery, Inc. identified that they could reduce their costs in permanent staff, fixed assets, and working capital (Kimmel, Weygandt, & Kieso, 2009) by outsourcing these functions to other companies. In turn, they assumed the role of organizing workflow to oversee the processes manufacturing, storage, delivery, and sales of their products. As virtual corporations allow businesses to increase and improve performance they are able to take advantage of economies of scale and scope (Hershkovitz, 2012). Reasoning for ABC System During the process of creating a virtual corporation, the management of Super Bakery, Inc. identified significant variations in costs to serve customers in different areas of the country (Kimmel, Weygandt, & Kieso, 2009). In an effort to better control costs, management evaluated their traditional costing methods and found them to be inaccurate because...
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...constant • Decreases Remains constant • Remains constant Decreases Want help? Click to download ACC 561 Week 4 Quiz 3. A fixed cost is a cost which • remains constant per unit with changes in the level of activity. • remains constant in total with changes in the level of activity. • varies inversely in total with changes in the level of activity. • varies in total with changes in the level of activity. 4. Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $14 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio? • 80% • 20% • 30% • 70% Want more details? Download now ACC 561 Week 5 Quiz 5. Contribution margin • is calculated by subtracting total manufacturing costs per unit from sales revenue per unit. • equals sales revenue minus variable costs. • is always the same as gross profit margin. • excludes variable selling costs from its calculation. 6. The equation which reflects a CVP income statement is • Sales + Fixed costs = Variable costs + Net income. • Sales – Variable costs + Fixed costs = Net income. • Sales – Variable costs – Fixed costs = Net income. • Sales = Cost of goods sold + Operating expenses + Net income. Want help? Click to download ACC 561...
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...This paperwork ACC 561 Week 4 IndividualWileyPlus Exercise BE18 1, BE18 7, BE18 11 includes answers to these exercises: 1) Brief Exercise BE18-1 Monthly production costs in Pesavento Company for two levels of production are as follows. Cost 3,000 units 6,000 units Indirect labor $10,000 $20,000 Supervisory salaries 5,000 5,000 Maintenance 4,000 7,000 Indicate which costs are variable, fixed, and mixed. Indirect labor Variable cost Supervisory salaries Fixed cost Maintenance Mixed cost 2) Brief Exercise BE18-7 Bruno Manufacturing Inc. has sales of $2,200,000 for the first quarter of 2010. In making the sales, the company incurred the following costs and expenses. Variable Fixed Cost of goods sold $920,000 $440,000 Selling expenses 70,000 45,000 Administrative expenses 86,000 98,000 Complete the CVP income statement for the quarter ended March 31, 2010. BRUNO MANUFACTURING INC. CVP Income Statement For the Quarter Ended March 31, 2010 Sales $2,200,000 Variable costs 1,076,000 Contribution Margin 1,124,000 Fixed costs 583,000 Net income $541,000 3) Brief Exercise BE18-11 For Dousmann Company actual sales are $1,200,000 and break-even sales are $840,000. Compute the following (a) the margin of safety in dollars and (b) the margin of safety ratio. Margin of safety...
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...In the file ACC 561 Week 5 Discussion Question 4 you will find right answers on the following task: "What are variances and why do these occur? When should one investigate budget variances? What factors would you consider when deciding whether to investigate a variance? As a manager, how you would you handle variances?" Business - Accounting DQ 01: Please post a response only between 200 – 300 words to the following discussion question What is a flexible budget? What types of organizations may use flexible budgets? Why are flexible budgets useful? Next, imagine you are preparing a business’s cash budget, which involves determining the amount of cash to keep on hand. How might the nature of the business affect your decision? Provide specific examples in your response DQ 02: Please post a response between 200 – 300 words to the following discussion question. What are variances and why do these occur? When should one investigate budget variances? What factors would you consider when deciding whether to investigate a variance? As a manager, how you would you handle variances? Should managers be punished or rewarded depending on the variances in their departments? Budgets- DQ 03: Imagine you are preparing a business’s cash budget, which involves determining the amount of cash to keep on hand. How might the nature of the business affect your decision? Provide specific examples in your response. Responsibility Reports and Standard...
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...ACC 561 Accounting Week 1 to 6, Assignment, WilyPLUS, DQ, Final Purchase here http://homeworkonestop.com/ACC%20561/acc-561-accounting-week-1-to-6-assignment-wilyplus-dq-final Product Description ACC 561 Accounting WEEK 1 Individual Assignment, Financial Statement Review Paper Individual Assignment, Wileyplus BE1-7, BE1-8, BE1-9 Discussion Question 1 and 2 WEEK 2 Individual Assignment, Sarbanes-Oxley Act of 2002 Individual Assignment, Wileyplus E13-5, E13-6, E13-8, E13-9 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 3 Individual Assignment, American Corporation Analysis Individual Assignment, Wileyplus BE15-5, E16-1, E17-9 Discussion Question 1 and 2 WEEK 4 Individual Assignment, WileyPLUS BYP17-2 Managerial Analysis Individual Assignment, Wileyplus BE18-1, BE18-7, BE18-11, E19-2 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 5 Individual Assignment, Costing Methods paper Learning Team Assignment, CVP and Break-Even Analysis Paper Individual Assignment, Wileyplus E20-2, E20-5, BE21-4, E22-5 Learning Team Deliverable Discussion Question 1 and 2 WEEK 6 Individual Assignment, Wileyplus E23-1, E23-2 Learning Team Summary Learning Team Reflection ACC 561 Final Exam WileyPLUS (30 Q & A) ACC 561 Final Exam 2 (30 Q & A) ACC 561 Final Exam 3 (54 Q & A) ACC 561 Final Exam 4 (54 Q & A) ACC 561 Final Exam 5 (54 Q & A) ACC 561 Final Exam 6 (52 Q & A) ACC 561 Final Exam 7...
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...ACC 561 Accounting Week 1 to 6, Assignment, WilyPLUS, DQ, Final Purchase here http://homeworkonestop.com/ACC%20561/acc-561-accounting-week-1-to-6-assignment-wilyplus-dq-final Product Description ACC 561 Accounting WEEK 1 Individual Assignment, Financial Statement Review Paper Individual Assignment, Wileyplus BE1-7, BE1-8, BE1-9 Discussion Question 1 and 2 WEEK 2 Individual Assignment, Sarbanes-Oxley Act of 2002 Individual Assignment, Wileyplus E13-5, E13-6, E13-8, E13-9 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 3 Individual Assignment, American Corporation Analysis Individual Assignment, Wileyplus BE15-5, E16-1, E17-9 Discussion Question 1 and 2 WEEK 4 Individual Assignment, WileyPLUS BYP17-2 Managerial Analysis Individual Assignment, Wileyplus BE18-1, BE18-7, BE18-11, E19-2 Learning Team Summary Learning Team Reflection Discussion Question 1 and 2 WEEK 5 Individual Assignment, Costing Methods paper Learning Team Assignment, CVP and Break-Even Analysis Paper Individual Assignment, Wileyplus E20-2, E20-5, BE21-4, E22-5 Learning Team Deliverable Discussion Question 1 and 2 WEEK 6 Individual Assignment, Wileyplus E23-1, E23-2 Learning Team Summary Learning Team Reflection ACC 561 Final Exam WileyPLUS (30 Q & A) ACC 561 Final Exam 2 (30 Q & A) ACC 561 Final Exam 3 (54 Q & A) ACC 561 Final Exam 4 (54 Q & A) ACC 561 Final Exam 5 (54 Q & A) ACC 561 Final Exam 6 (52 Q & A) ACC 561 Final Exam 7 (45...
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...Profit margin • Working capital • Earnings per shar Want help? Click to download ACC 561 Week 2 Quiz 3. Current assets divided by current liabilities is known as the • capital structure. • working capital • current ratio. • profit margin. 4. Danner Corporation reported net sales of $600,000, $680,000, and $800,000 in the years 2011, 2012, and 2013, respectively. If 2011 is the base year, what percentage do 2013 sales represent of the base? • 33% • 133% • 75% • 113% Want help? Click to download ACC 561 Week 4 Quiz 5 .An analyzing financial statements, horizontal analysis is a • theory. • requirement. • tool. • principle. 6. Comparative balance sheets • are usually prepared for at least one year. • are usually prepared for at least two years. • do not show both dollar amount and percentage changes. • do not show a comparison of total stockholders' equity. Complete Answers just a click away ACC 561 Week 1 Quiz 7. Assume the following cost of goods sold data for a company: 2013 $1,500,000 2012 1,200,000 2011 1,000,000 If 2011 is the base year, what is the percentage increase in cost of goods sold from 2011 to 2013? • 50% • 67% • 150% • 20% 8. Comparisons of data within a company are an example of the following comparative basis: • Intercompany. • Interregional. • Industry averages. • Intracompany. Want help? Click to download ACC 561 Week 2 Quiz 9. The following schedule is a display of what type of analysis? Amount Percent ...
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...business enterprises in the United States are • government units. • partnerships. • proprietorships and partnerships. • corporations. Want more details? Download now ACC 561 Week 1 Quiz 3. A business organized as a separate legal entity is • government unit. • partnership. • corporation. • proprietor. 4. Which of the following is the best definition of an internal user of accounting information? • Creditors like banks that use accounting information to evaluate the risk of lending money. • Managers who use accounting information to plan, organize, and run a business. • Labor unions who use accounting information to examine the ability of the company to pay increased wages and benefits. • Investors who use accounting information to decide whether to buy or sell stock. Want help? Click to download ACC 561 Week 2 Quiz 5. Which of the following groups uses accounting information primarily to insure the entity is operating within prescribed rules? • Labor Unions • Management • Taxing authorities • Regulatory agencies 6. Which of the following groups uses accounting information to determine whether the company can pay its obligations? • Chief Financial Officer • Creditors • Investors in common stock • Marketing managers Want help? Click to download ACC 561 Week 4 Quiz 7. Which of the following financial statements is divided into major categories of operating, investing, and financing activities? • The retained earnings statement...
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...systems are • job order and process cost systems. • job order and batch systems. • process cost and batch systems. • job order and job accumulation systems. Quiz Answers just a click away ACC 561 Week 3 Quiz 3. A process cost system would most likely be used by a company that makes • breakfast cereal. • motion pictures. • college graduation announcements. • repairs to automobiles. 4. Which of the following would be accounted for using a job order cost system? • The refining of petroleum. • The production of automobiles. • The production of personal computers. • The construction of a new campus building. Quiz Answers just a click away ACC 561 Week 1 Quiz 5.The flow of costs in a job order cost system • measures product costs for a set time period. • generally follows a LIFO cost flow assumption. • involves accumulating manufacturing costs incurred and assigning the accumulated costs to work done. • cannot be measured until all jobs are complete. 6. The entry to record the acquisition of raw materials on account is • Raw Materials Inventory Accounts Payable • Work in Process Inventory Accounts Payable • Manufacturing Overhead Raw Materials Inventory Accounts Payable • Accounts Payable Raw Materials Inventory Want more details? Download now ACC 561 Week 5 Quiz 7. Time tickets should be approved by • the payroll department. • the audit committee. • co-workers. • the employee's supervisor. 8. The labor costs that have been identified...
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...help communicate goals and provide a basis for evaluation. • They guarantee the company will be profitable if it meets its objectives. 2. A common starting point in the budgeting process is • a clean slate, with no expectations. • expected future net income. • past performance. • to motivate the sales force. Want more details? Download now ACC 561 Week 5 Quiz 3. Which of the following statements about budget acceptance in an organization is true? • The most widely accepted budget by the organization is the one prepared by top management. • Budgets are hardly ever accepted by anyone except top management. • The most widely accepted budget by the organization is the one prepared by the department heads. • Budgets have a greater chance of acceptance if all levels of management have provided input into the budgeting process. 4. What is budgetary control? • The process of providing information on budget differences to lower level managers • Another name for a flexible budget • The degree to which the CFO controls the budget • The use of budgets in controlling operations Quiz Answers just a click away ACC 561 Week 1 Quiz 5. The comparison of differences between actual and planned results • is done by the external auditors. • appears on the company's external financial statements. • is usually done orally in departmental meetings. • appears on periodic budget reports. 6. A static budget • should not be prepared in a company. • is useful in evaluating...
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...Fin571 Week 5 Problem Sets Lamar September 19, 2010 FIN/571 University of Phoenix Denny Frischkorn Week 5 Text Problem Sets Exercises Chapter 17 B1: (Choosing Financial... Save Paper Eco561 Week 1 quantity supplied on a fixed supply curve, during the pre-Superbowl weeks, there is a spike in the demand and quantity supplied as consumers are readying for the big... Save Paper International Corporate Finance/Fin Gm571 Week 3 The current credit terms dictates 15% upon purchase and 85% the following week (Emery, Finnerty, & Stowe, 2007). As valuable a customer who LS is to Murray, LS... Save Paper Week 2 Checkpoint Xeco212 iPad within hours, and retailers werent replenished for weeks because the demand was too high for production. So when they did this, they didnt have a significant... Save Paper Hca230 Week 1 Assignment HCA230 Week 1 Assignment Today Managed Care is the most predominant form of insurance in the United States. Insurances such as PPO, POS, and HMO plans are all... Save Paper Two Weeks With The Queen courage and prejudice expressed in a very realistic way that we can relate to. Two Weeks with the Queen gives the reader a sense of reality. In the beginning... Save Paper Week 5 Qnt/561 show that the production rate at the Scranton Plant has changed from 200 per week. The Two Sample Test of Hypothesis The two- sample hypothesis testing... Save Paper TraInIng In Acc point around which a learning organization may develop. The training program...
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...ACC 561 Week 6 Assignment Wiley PLUS - Latest IF You Want To Purchase A+ Work Then Click The Link Below , Instant Download http://www.hwspeed.com/ACC-561-Week-6-Assignment-WileyPLUS-Latest-438493893.htm?categoryId=-1 If You Face Any Problem E- Mail Us At JOHNMATE1122@Gmail.Com Exercise 20-3 Garza and Neely, CPAs, are preparing their service revenue (sales) budget for the coming year (2012). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Quarter 2 Quarter 3 Quarter 4 Auditing 2,560 1,750 2,200 2,740 Tax 3,110 2,750 2,140 2,790 Consulting 1,780 1,780 1,780 1,780 Average hourly billing rates are: auditing $82, tax $94, and consulting $105. Prepare the service revenue (sales) budget for 2012 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. Exercise 22-1 Stanton Company is planning to produce 2,100 units of product in 2012. Each unit requires 3.60 pounds of materials at $6.60 per pound and a half-hour of labor at $15.40 per hour. The overhead rate is 70% of direct labor. (a) Compute the budgeted amounts for 2012 for direct materials to be used, direct labor, and applied overhead. Direct materials $ Direct labor $ Overhead $ (b) Compute the standard cost of one unit of product. (Round answer...
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