...349 Week 4 Midterm Click Link Below To Buy: http://hwcampus.com/shop/acct-349-week-4-midterm/ Week 4 : Relevant Information, Strategy, and a Balanced Scorecard - Midterm Page 1 1. (TCO 5) The following information is available from the Taylor Company. Actual factory overhead $15,000 Fixed overhead expenses, actual $7,200 Fixed overhead expenses, budgeted $7,000 Actual hours 3,500 Standard hours 3,800 Variable overhead rate per direct labor hour $2.50 Assuming that Taylor uses a three-way analysis of overhead variances, what is the spending variance? (Points : 11) $750 favorable $750 unfavorable $950 favorable $200 unfavorable EXPLANATION: The spending variance is the difference between the actual total factory overhead and the budgeted amount for the actual output. Budgeted $7,000 + (3,500 x $2.50) $15,750 Actual (15,000) $750 F 2. (TCO 5) In an activity-based costing system, what should be used to assign a department’s manufacturing overhead costs to products produced in varying lot sizes? (Points : 11) A single cause-and-effect relationship Multiple cause-and-effect relationships Relative net sales value of the products A product’s ability to bear cost allocations EXPLANATION: Instead of using a single allocation base for overhead, and ABC system determines the multiple activities associated with the incurrence of costs and then accumulates a cost pool for each...
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...wiL1084x_fm_i-xxiv_1.indd Page i 1/10/11 7:53:00 PM user-f499 /Users/user-f499/Desktop/Temp Work/Don't Delete Job/MHBR231:Wild:203 Managerial Accounting John J. Wild University of Wisconsin at Madison Ken W. Shaw University of Missouri at Columbia 3 rd edition wiL1084x_fm_i-xxiv_1.indd Page ii 1/10/11 9:14:31 PM user-f499 /Users/user-f499/Desktop/Temp Work/Don't Delete Job/MHBR231:Wild:203 To my students and family, especially Kimberly, Jonathan, Stephanie, and Trevor. To my wife Linda and children, Erin, Emily, and Jacob. MANAGERIAL ACCOUNTING Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright 2012, 2010, 2007 by The McGraw-Hill Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 DOW/DOW 1 0 9 8 7 6 5 4 3 2 1 ISBN 978-0-07-811084-9 MHID 0-07-811084-X Vice president and editor-in-chief: Brent Gordon Editorial director: Stewart Mattson Publisher: Tim...
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...and Analysis DE5G 35 Assessment Exemplar for Higher National Unit DE5G 35: Financial Reporting and Analysis 1st edition: May 2004 Price: £20.00 Publication code: CB 1989 Published by the Scottish Qualifications Authority, Hanover House, 24 Douglas Street, Glasgow, G2 7NQ, and Ironmills Road, Dalkeith, Midlothian, EH22 1LE The information in this publication may be reproduced to support SQA qualifications. If it is reproduced, SQA should be clearly acknowledged as the source. If it is to be used for any other purpose, then written permission must be obtained from the Support Materials Development Officer at SQA. It must not be reproduced for trade or commercial purposes. © Scottish Qualifications Authority 2004 DE5G 35: Financial Reporting and Analysis Contents 1 2 3 Introduction How to generate evidence Assessment exemplar Scottish Qualifications Authority Assessment Exemplars for Higher National Units DE5G 35: Financial Reporting and Analysis 1 Introduction This pack must be used in conjunction with a copy of the Unit specification which details the standard of performance expected of the candidate. A copy of the Unit specification can be obtained from SQA. This pack supplements the assessment guidelines and support notes of the Unit specification. It aims to provide an example of assessment that is valid, reliable and practicable. The assessment task(s) detailed in this pack correspond to the assessment guidelines outlined in the Unit specification...
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...A security risk management approach for e-commerce M. Warren School of Information Technology, Deakin University, Geelong, Australia W. Hutchinson School of Computer and Information Science, Edith Cowan University, Mt Lawley, Australia Keywords Electronic commerce, Risk analysis, Information systems Introduction Information systems are now heavily utilized by all organizations and relied upon to the extent that it would be impossible to manage without them. This has been encapsulated by the recent development of e-commerce in a consumer and business environment. The situation now arises that information systems are at threat from a number of security risks and what is needed is a security method to allow for these risks to be evaluated and ensure that appropriate security countermeasures are applied. Abstract E-commerce security is a complex issue; it is concerned with a number of security risks that can appear at either a technical level or organisational level. This paper uses a systemic framework, the viable system model (VSM) to determine the high level security risks and then uses baseline security methods to determine the lower level security risks. Security methods The aim of the research was too combine a information systems modeling method with a baseline security method to form a hybrid security method. This method could be used to evaluate high and low level security risks associated with e-commerce. The methods used in this model are the viable...
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...Chapter 11 Standard Costs and Operating Performance Measures Solutions to Questions 11-1 A quantity standard indicates how much of an input should be used to make a unit of output. A price standard indicates how much the input should cost. 11-2 Ideal standards assume perfection and do not allow for any inefficiency. Ideal standards are rarely, if ever, attained. Practical standards can be attained by employees working at a reasonable, though efficient pace and allow for normal breaks and work interruptions. 11-3 Under management by exception, managers focus their attention on results that deviate from expectations. It is assumed that results that meet expectations do not require investigation. 11-4 Separating an overall variance into a price variance and a quantity variance provides more information. Moreover, price and quantity variances are usually the responsibilities of different managers. 11-5 The materials price variance is usually the responsibility of the purchasing manager. The materials quantity and labor efficiency variances are usually the responsibility of production managers and supervisors. 11-6 The materials price variance can be computed either when materials are purchased or when they are placed into production. It is usually better to compute the variance when materials are purchased because that is when the purchasing manager, who has responsibility for this variance, has completed his or her work. In addition, recognizing the price...
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...ADMINISTRATION By: Group 5 Ekta Chhotaria – G012 Aadarsh Chaudhary – G014 Dhwani Mehta – G038 Jackin Mota – G041 Snehal Naik – G044 Devalla Phani Madhav –G50 Rahul Rao – G051 Suryansh Shrimal –G59 Narsee Monjee Institute of Management Studies Mumbai – 400056 August 2015 INDEX Serial No. | Topic | Page No | 1 | Research problem | 3 | 2 | Abstract | 3 | 3 | Introduction | 4 | 4 | Literature Review | 4 | 5 | Research Design | 5 | 6 | Findings | 8 | 7 | Conclusion | 12 | 8 | Appendix | 12 | RESEARCH PROBLEM Reduce agricultural dependence on rainfall ABSTRACT Purpose: To determine the effect of irrigation on agricultural productivity Methodology: Scatter diagram and the regression analysis Findings: This study quantifies the incremental benefits of major factor inputs inovertime variation of agricultural performance and agricultural productivity in India. The results of our model indicate that better irrigation facilities, normal rainfall helped to improve crop output in the country. Social implications: Knowing precisely what factors impact agricultural productivity and to what extent will help the government increase farm productivity, thus reducing farmer suicides. INTRODUCTION The Indian economy has undergone structural changes over time with the anticipated decline in the share of agriculture in the GDP. Despite a fall in its share from 55.1 per cent in 1950-51 to 17.0 per cent in 2008-09, the importance of...
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...Case Analysis – Specialty Toys 1. Senior sales forecaster predicted and expected demand of 20,000 units with .95 probability that demand would be between 10,000 and 30,000 units. P (10,000 < x< 30,000) = .95 (30,000-20,000)/1.96 = 5,102 X = the demand of Weather Teddy Mean µ = 20,000 Standard Deviation α = 5,102 The normal distribution of the demand for the Weather Teddy is represented in the graph below. This is based off of the forecast of previous selling history of other similar toys. The forecast shows that the demand for the Weather Teddy will be at 20,000 units, but with a probability of .95 of selling anywhere between 10k to 20k units. Therefore, with the information given the standard deviation of this forecast is at 5,102. 2. With various order quantities suggested by members of the management team, it would be wise to compute the probability of a stock-out for each of the order quantities suggested. The probability of a stock-out is the inverse of the probability that the quantity sold is less than or equal to the amount purchased by the company. 1st Formula used: z = (x - µ) / σ The probability of a stock out is calculated by subtracting the probability found in the chart from 1. Suggested Quantity to Order | Probability of a Stock-Out | 15,000 | 83.65% | 18,000 | 65.17% | 24,000 | 21.77% | 28,000 | 5.82% | 3. Based on the various order quantities suggested by members of the management team, a simple profit analysis should...
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...Relationship Between Advertiser and Sales Representative Penny E. Webb Southern New Hampshire University Relationship Between Advertiser and Sales Representative Penny E. Webb Southern New Hampshire University Abstract This paper explores the relationship between and advertiser and their newspaper sales representative. Advertising is a major source of revenue for newspapers and the relationship between sales representative and advertiser is crucial. This paper takes the advertising revenue of one outside sales representative for a five (5) month period in 2013 and compares it to the same five (5) months in 2014. The comparison takes place after advertising accounts under three thousand dollars ($3k) are moved to an inside sales representative. The data was analyzed and the hypothesis that an advertiser spending under $3k increases their spend when moved to an inside sales representative, while the alternate hypothesis was rejected. Keywords: advertising revenue, outside sales representative. Relationship Between Advertiser and Sales Representative Introduction: The newspaper industry is facing a decline in advertising dollars, a major source of revenue and has to do more with less money. Almost half – 46% – of the world’s population visits newspaper websites, but newspaper comprise just 6% of total visits, 0.8% of page viewed and 1.1% of total time spent with digital platforms.(Marketing Charts staff, 2014) Newspaper advertising is down over fifty percent in the...
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...Setting a a a a cost by subtracting a desired profit margin from a competitive market price price by adding a desired profit margin to a production cost cost for the use in the calculation of variances selling price for the company to aim for in the long run 3 Information relating to two processes (F and G) was as follows: Process F G Normal loss as % of input 8 5 Input (litres) 65,000 37,500 Output (litres) 58,900 35,700 For each process, was there an abnormal loss or an abnormal gain? A B C D Process F Abnormal gain Abnormal gain Abnormal loss Abnormal loss Process G Abnormal gain Abnormal loss Abnormal gain Abnormal loss 4 The following budgeted information relates to a manufacturing company for next period: Production Sales Units 14,000 12,000 Fixed production costs Fixed selling costs $...
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...Curtin Business School School of Accounting Unit Outline 309875 Accounting Theory and Analysis 308 Semester 1, 2014 Unit study package number: Mode of study: Tuition pattern summary: 309875 Internal Lecture: 1 x 1.5 Hours Weekly Workshop: 1 x 1.5 Hours Weekly This unit does not have a fieldwork component. Credit Value: Pre-requisite units: Co-requisite units: Anti-requisite units: Result type: Approved incidental fees: Unit coordinator: 25.0 305229 (v.0) Advanced Financial Accounting 260 or any previous version Nil Nil Grade/Mark Information about approved incidental fees can be obtained from our website. Visit fees.curtin.edu.au/incidental_fees.cfm for details. Lisa Cullen Name: +618 9266 7567 Phone: Lisa.Cullen@curtin.edu.au Email: 407 Building: 406A - Level 4 Room: Consultation times: Tuesday 2-4pm and Thursday 12.30-2.30pm Name: Phone: Email: Building: Room: Name: Phone: Email: Building: Room: Name: Phone: Email: Building: Room: Administrative contact: Name: Phone: Email: Building: Room: Andrew Reynolds +61 8 9266 3602 A.Reynolds@curtin.edu.au 407 426 John Evans +618 9266 3156 John.Evans@curtin.edu.au 407 407 Clive Oliver +618 92667295 Clive.Oliver@curtin.edu.au 407 412 Lesley Hill +618 9266 7295 Lesley.Hill@cbs.curtin.edu.au 407 412 Teaching Staff: Learning Management System: Blackboard (lms.curtin.edu.au) 309875 Accounting Theory and Analysis 308 Bentley Campus 19 Feb 2014 School of Accounting, Curtin Business School Page: 1 of 9 CRICOS Provider...
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...Unit: BO1COAC216 Cost Accounting Program: Bachelor of Business Trimester 1, 2015 OVERVIEW The unit introduces cost accounting and enables students to explain its roles in efficient resources allocation. Students will be introduced to the traditional and modern approaches to costing for evaluation in decision making and profitability analysis. The role of cost accounting in performance appraisal is examined and investigated by analyzing the various topics presented. Overall, the unit will assist students in an understanding of how learning cost accounting techniques and procedures can better serve the company as a whole. DETAILS Level | Undergraduate | Credit Points | 6 | PRE-REQUISITES OR CO-REQUISITES PREREQUISITE: ACCT105 Business Accounting ATTENDANCE REQUIREMENTS All students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record) OFFERINGS Trimester 1, 2015 | Sydney/Melbourne | WEBSITE This unit has a website, within the Moodle system, which is available at the start of the trimester. It is important that you visit your Moodle site throughout the trimester. Class and Assessment...
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...ACC 560 Week 1 Homework Chapter 1 (E1-5, E1-9, E1-10 and E1-2A) For more course tutorials visit www.tutorialrank.com ACC 560 Week 1 Homework Chapter 1 (E1-5, E1-9, E1-10 and E1-2A) E1-5 E1-5 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. 1. Property taxes on the factory building. 2. Production superintendents’ salaries. 3. Memory boards and chips used in assembling computers. 4. Depreciation on the factory equipment. 5. Salaries for assembly-line quality control inspectors. 6. Sales commissions paid to sell laptop computers. 7. Electrical components used in assembling computers. 8. Wages of workers assembling laptop computers. 9. Soldering materials used on factory assembly lines. 10. Salaries for the night security guards for the factory building. The company intends to classify these costs and expenses into the following categories: (a) Direct materials, (b) Direct labor, (c) Manufacturing overhead, (d) Period costs. List the items (1) through (10). For each item, indicate the cost category to which it belongs. E1-9 E1-9 An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. E1-10 E1-10 Manufacturing cost data for Copa Company arc presented below. Case A Case B Case C Direct materials used $ (a) $68,400 $130,000 Direct labor ...
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...and a task force of fired-up law school volunteers. (2) Ford had a former Watergate prosecutor with a million dollars to spend and legal team of 80 and all Ford’s resources at their disposal. Prosecutor Cosentino was driven by the fact that big companies are rarely phased by paying damage rewards and at that point criminal law should step in. Cosentino has to prove that Ford intentionally put a design out that was very dangerous. That Ford had the knowledge of the faulty design and recklessly chose profit over safety. Ford maintained that the Ford Pinto met the current safety standards for rear end crashes. Many other manufacturers had the gasoline tanks in the same position as the Pinto’s, often in an even more hostile environment.(3) Ford had a way to modify the Pinto gas tank so that it would greatly diminish the car catching fire in a rear end crash. The cost of this modification was around $11 per vehicle per Ford. In analyzing what to do in this situation, Ford used a utilitarian approach,...
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... a) The total variation in the dependent variable. b) The sum of squares for error (SSE). c) The sum of squares for regression (SSR) d) The sum of squares for total (SST). e) None of the above 2. In a simple regression analysis involving 25 data points, the standard error of estimate is calculated as S( = 2.0 and the Fts = 10, then the information from regression line (SSR) should be, a) 60 b) 50 c) 40 d) 30 e) None of the above 3. In a statistics course, a linear regression equation was computed to predict the final exam score from the first quiz score. The equation obtained was Y = 10 + 0.9 X, where Y is the final exam score and X is the first quiz score. A prediction interval for Al Bundy who scored 95 on the first quiz and on the final exam scored 98 was computed. Also a confidence interval for mean score of 95 on the first quiz was computed. From this we can conclude: a) Al Bundy’s prediction interval in wider than the confidence interval. b) Al Bundy’s prediction interval in shorter than the confidence interval. c) Al Bundy’s prediction interval is equal in length to the confidence interval. d) None of the above 4. Excluding an outlier point from your data in simple regression analysis, in general leads to: a) A significantly different slope as compared to the case where you do not exclude the point from your data b) Imprecise estimates of the intercept c) Significantly...
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...•apply cost‐volume‐profit analysis techniques to ascertain the inter‐relationships among costs, selling price, units sold, breakeven point, target profit and margin of safety; •state the assumptions and limitations of cost‐volume‐ profit analysis; •identify and differentiate relevant costs and irrelevant costs in different business scenarios; and •make recommendation to short‐term business decisions. 2 Syllabus in HKDSE Examination • Identify the nature of various cost items and their relevance to decision‐making: sunk costs, incremental costs and opportunity costs. • Apply costing concepts and techniques in business decisions, e.g. “hire, make or buy”, “accept or reject an order at a special price”, “retain or replace equipment”, “sell or process further” and “eliminate or retain an unprofitable segment”. • Conduct cost‐volume‐profit analysis to assess the effects of changes in costs, selling price and units sold on the What‐if analysis breakeven point and target profit. 3 Contents • • • • • • • • • • • • 4 Breakeven point Sale level required to achieve target profit Margin of safety What‐if analysis (Illustrations 1 & 2) Sales mix (Illustration 3 & 4) Relevant costs vs. irrelevant costs (Illustrations 5 & 6) Accept or reject an order (Illustration 7) Hire decision (Illustration 8) Make or buy (illustration 9) Retain or replace equipment (Illustration 10) Sell or process further (Illustration 11) Eliminate or retain an unprofitable segment (Illustration 12) ...
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