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ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) ACC 561 Week 2 Individual Assignment Accounting & The Regulatory Environment (2 Papers) ACC 561 Week 3 Team Assignment Financial Statement Analysis (2 Set) ACC 561 Week 4 Team Assignment Cost Accounting Systems (2 PPT) ACC 561 Week 5 Team Assignment Costing Methods Presentation (2 PPT) ACC 561 Week 1 Individual Wileyplus Assignment (with Excel File) ACC 561 Week 1 Wileyplus Practice Quiz ACC 561 Week 2 Wileyplus Practice Quiz ACC 561 Week 3 Team Assignment American Corporation Analysis ACC 561 Week 3 Team Assignment Tootsie Roll Industries Inc. Loan Package ACC 561 Week 3 Wileyplus Assignment (With Excel file) ACC 561 Week 3 Wileyplus Practice Quiz ACC 561 Week 4 WileyPLUS Assignment Paper Exercise 17-2 ACC 561 Week 4 WileyPLUS Assignment (With Excel File)

ACC 561 Week 4 Wileyplus Practice Quiz ACC 561 Week 5 Individual/Team WileyPLUS Assignment Paper Exercise 181 ACC 561 Week 5 WileyPLUS Assignment (With Excel File) ACC 561 Week 5 Individual Assignment Costing Methods Paper (Exercise 1917) (2 Papers) ACC 561 Week 5 Wileyplus Practice Quiz ACC 561 Week 6 WileyPLUS Assignment (with Excel File) ACC 561 Week 6 Wileyplus Practice Quiz ACC 561 Week 1 Individual Assignment Financial Statement Review ACC 561 Week 1 Individual Assignment Financial Statement Differentiation Paper ACC 561 Week 2 Individual Assignment Sarbanes-Oxley Act of 2002 (2 Papers) ACC 561 Week 2 Team Assignment Financial Statement Relationship Paper ACC 561 Week 2 Learning Team Reflection ( comparative and ratio analysis) ACC 561 Week 4 Learning Team Reflection (CVP Analysis) ACC 561 Week 4 Team Assignment CVP Discussion Paper ACC 561 Week 5 Learning Team Deliverables ACC 561 Week 6 Learning Team Reflection (Incremental analysis) ACC 561 Week 6 Team Assignment Master Budgeting Question ACC 561 Week 2 Individual Assignment Accounting and The Regulatory Environment Presentation ACC 561 Week 3 Team Assignment Financial Statement Analysis

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ACC 561 Entire Course (With Final Guide)

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ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) ACC 561 Week 2 Individual Assignment Accounting & The Regulatory Environment (2 Papers) ACC 561 Week 3 Team Assignment Financial Statement Analysis (2 Set) ACC 561 Week 4 Team Assignment Cost Accounting Systems (2 PPT) ACC 561 Week 5 Team Assignment Costing Methods Presentation (2 PPT) ACC 561 Week 1 Individual Wileyplus Assignment (with Excel File) ACC 561 Week 1 Wileyplus Practice Quiz ACC 561 Week 2 Wileyplus Practice Quiz ACC 561 Week 3 Team Assignment American Corporation Analysis ACC 561 Week 3 Team Assignment Tootsie Roll Industries Inc. Loan Package ACC 561 Week 3 Wileyplus Assignment (With Excel file) ACC 561 Week 3 Wileyplus Practice Quiz ACC 561 Week 4 WileyPLUS Assignment Paper Exercise 17-2

ACC 561 Week 4 WileyPLUS Assignment (With Excel File) ACC 561 Week 4 Wileyplus Practice Quiz ACC 561 Week 5 Individual/Team WileyPLUS Assignment Paper Exercise 181 ACC 561 Week 5 WileyPLUS Assignment (With Excel File) ACC 561 Week 5 Individual Assignment Costing Methods Paper (Exercise 1917) (2 Papers) ACC 561 Week 5 Wileyplus Practice Quiz ACC 561 Week 6 WileyPLUS Assignment (with Excel File) ACC 561 Week 6 Wileyplus Practice Quiz ACC 561 Final Exam Guide (**New**) ACC 561 Final Exam Guide (New, with Excel Sheet) ACC 561 Week 1 Individual Assignment Financial Statement Review ACC 561 Week 1 Individual Assignment Financial Statement Differentiation Paper ACC 561 Week 2 Individual Assignment Sarbanes-Oxley Act of 2002 (2 Papers) ACC 561 Week 2 Team Assignment Financial Statement Relationship Paper ACC 561 Week 2 Learning Team Reflection ( comparative and ratio analysis) ACC 561 Week 4 Learning Team Reflection (CVP Analysis) ACC 561 Week 4 Team Assignment CVP Discussion Paper ACC 561 Week 5 Learning Team Deliverables ACC 561 Week 6 Learning Team Reflection (Incremental analysis)

ACC 561 Week 6 Team Assignment Master Budgeting Question ACC 561 Week 2 Individual Assignment Accounting & The Regulatory Environment Presentation ACC 561 Week 3 Team Assignment Financial Statement Analysis ***************************************************88

ACC 561 Entire Course

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ACC 561 Week 1 Individual Wileyplus Assignment ACC 561 Week 1 Individual Assignment Financial Statement Review ACC 561 Week 1 Individual Assignment Financial Statement Differentiation Paper ACC 561 Week 1 Wileyplus Practice Quiz ACC 561 Week 2 Individual Assignment Sarbanes-Oxley Act of 2002 (2 Papers) ACC 561 Week 2 Team Assignment Financial Statement Relationship Paper ACC 561 Week 2 Learning Team Reflection ( comparative and ratio analysis) ACC 561 Week 2 Wileyplus Practice Quiz ACC 561 Week 3 Team Assignment American Corporation Analysis

ACC 561 Week 3 Team Assignment Tootsie Roll Industries Inc. Loan Package ACC 561 Week 3 Wileyplus Assignment ACC 561 Week 3 Wileyplus Practice Quiz ACC 561 Week 4 WileyPLUS Assignment Paper Exercise 17-2 ACC 561 Week 4 WileyPLUS Assignment ACC 561 Week 4 Learning Team Reflection (CVP Analysis) ACC 561 Week 4 Team Assignment CVP Discussion Paper ACC 561 Week 4 Wileyplus Practice Quiz ACC 561 Week 5 Individual/Team WileyPLUS Assignment Paper Exercise 18-1 ACC 561 Week 5 WileyPLUS Assignment ACC 561 Week 5 Individual Assignment Costing Methods Paper (Exercise 19-17) (2 Papers) ACC 561 Week 5 Wileyplus Practice Quiz ACC 561 Week 5 Learning Team Deliverables ACC 561 Week 6 Learning Team Reflection (Incremental analysis) ACC 561 Week 6 WileyPLUS Assignment ACC 561 Week 6 Wileyplus Practice Quiz ACC 561 Week 6 Team Assignment Master Budgeting Question ACC 561 Final Exam Guide (**New**) ******************************************8

ACC 561 Final Exam Guide (New)

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www.tutorialrank.com 1. Which of the following is an advantage of corporations relative to partnerships and sole proprietorships?

2. The group of users of accounting information charged with achieving the goals of the business is its 3. Which of the following financial statements is cornered with the company at a point in time?

4. An income statement 5. The most important information needed to determine if companies can pay their current obligations is the 6. A liquidity ratio measures the 7. The convention of consistency refers to consistent use of accounting principles 8. Horizontal analysis is also known as 9. Horizontal analysis is a technique for evaluating a series of financial statement data over a period of time 10. Vertical analysis is a technique that expresses each item in a financial statement 11. Process costing is used when 12. An important feature of a job order cost system is that each job 13. In a process cost system, product costs are summarized: 14. An activity that has a direct cause-effect relationship with the resources consumed is a(n) 15. Activity-based costing 16. A cost which remains constant per unit at various levels of activity is a

17. Fixed costs are $600,000 and the contribution margin per unit is $150. What is the break-even point?

18. The break-even point is where 19. When a company assigns the costs of direct materials, direct labor, and both variable and fixed manufacturing overhead to products, that company is using 20. If a division manager’s compensation is based upon the division’s net income, the manager may decide to meet the net income targets by increasing production when using 21. An unrealistic budget is more likely to result when it 22. A major element in budgetary control is 23. The purpose of the sales budget report is to 24. The accumulation of accounting data on the basis of the individual manager who has the authority to make day-to-day decisions about activities in an area is called 25. Variance reports are 26. Internal reports that review the actual impact of decisions are prepared by 27. The process of evaluating financial data that change under alternative courses of action is called 28. Seasons Manufacturing manufactures a product with a unit variable cost of $100 and a unit sales price of $176. Fixed manufacturing costs were $480,000 when 10,000 units were produced and sold. The company has a one-time opportunity to sell an additional 1,000 units at $140 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to

produce the additional units, acceptance of the special order would affect net income as follows: 29. Carter, Inc. can make 100 units of a necessary component part with the following costs: Direct Materials $120,000 Direct Labor 20,000 Variable Overhead 60,000 Fixed Overhead 40,000 If Carter can purchase the component externally for $220,000 and only $10,000 of the fixed costs can be avoided, what is the correct make-or-buy decision?

30. A company has a process that results in 15,000 pounds of Product A that can be sold for $16 per pound. An alternative would be to process Product A further at a cost of $200,000 and then sell it for $28 per pound. Should management sell Product A now or should Product A be processed further and then sold? What is the effect of the action? ******************************************

ACC 561 Final Exam Guide (New, 2017, Score 100%)

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The investigation of materials price variance usually begins in the:

controller’s office. accounts payable department. first production department. purchasing department

Hollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $13 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?

35% 25% 75% 65%

Which of the following statements is not true?

When a company’s sales revenue is decreasing, high operating leverage is good because it means that profits will decrease at a slower pace than revenues decrease.

When a company’s sales revenue is increasing, high operating leverage is good because it means that profits will increase rapidly.

Companies that have higher fixed costs relative to variable costs have higher operating leverage.

Operating leverage refers to the extent to which a company’s net income reacts to a given change in sales.

Which of the following will not result in an unfavorable controllable margin difference?

Sales under budget; costs under budget Sales exceeding budget; costs under budget Sales under budget; costs over budget Sales exceeding budget; costs over budget

5

Based on the following data, what is the amount of working capital?

Accounts payable………………………………………………………..$64,000 Accounts receivable……………………………………………………..114,000 Cash…………………………………………………………………… …. 70,000 Intangible assets…………………………………………………………100,000 Inventory……………………………………………………………… …. 138,000 Long-term investments…………………………………………………..160,000 Long-term liabilities……………………………… ………………………200,00 0 Short-term investments……………………………………………………80,000 Notes payable (shortterm)………………………………………………..56,000 Property, plant, and equipment………………………………………..1,340,000 Prepaid insurance…………………………………………………………….2, 000 $370,000 $332,000

$326,000 $284,000

6 Miller Manufacturing’s degree of operating leverage is 1.5. Warren Corporation’s degree of operating leverage is 3. Warren’s earnings would go up (or down) by ________ as much as Miller’s with an equal increase (or decrease) in sales.

2 times 4.5 times 1.5 times 1/2 times

7 What is the primary difference between a static budget and a flexible budget?

The static budget contains only fixed costs, while the flexible budget contains only variable costs.

The static budget is prepared only for units produced, while a flexible budget reflects the number of units sold.

The static budget is constructed using input from only upper level management, while a flexible budget obtains input from all levels of management.

The static budget is prepared for a single level of activity, while a flexible budget is adjusted for different activity levels.

8 Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The company produces 300,000 wheels and 600,000 seats each year. Each wheel uses 2 parts, and each seat uses 3 parts.

How much of the assembly overhead should be allocated to wheels? $165,000 $220,000 $264,000 $282,856

9 Financial and managerial accounting are similar in that both: produce general-purpose reports. deal with the economic events of an enterprise.

have reports that are prepared quarterly and annually. have the same primary users.

10 It costs Garner Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 3,000 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted.

Garner has sufficient unused capacity to produce the 3,000 scales. If the special order is accepted, what will be the effect on net income? $6,000 decrease $9,000 decrease $6,000 increase $45,000 increase

11 Which one of the following is an example of a period cost?

A manager’s salary for work that is done in the corporate head office.

A box cost associated with computers.

A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer.

Workers’ compensation insurance on factory workers’ wages allocated to the factory.

12 The Mac Company has four plants nationwide that cost $350 million.

The current fair value of the plants is $300 million. The plants will be reported as assets at: $300 million. $350 million. $600 million. $700 million.

13 Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not?

Yes, the intent of the company is to perform the work and the customer is confident that the services will be completed.

No, the amount of revenue cannot be adequately determined until the company completes the work.

Yes, they are treated as revenue at the time of receipt because the company has access to the cash.

No, revenue cannot be recognized until the work is performed.

14 Which statement is correct?

The cash basis of accounting is objective because no one can be certain of the amount of revenue until the cash is received.

As long as management is ethical, there are no problems with using the cash basis of accounting.

As long as a company consistently uses the cash basis of accounting, generally accepted accounting principles allow its use.

The use of the cash basis of accounting violates both the revenue recognition and expense recognition principles.

15 If a plant is operating at full capacity and receives a one-time opportunity to accept an order at a special price below its usual price, then: the order will likely be accepted. only variable costs are relevant. the order will likely be rejected. fixed costs are not relevant.

16 Kimble Company applies overhead on the basis of machine hours.

Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:

Estimated annual overhead cost $1,600,000 Actual annual overhead cost $1,575,000 Estimated machine hours 400,000 Actual machine hours 390,000 $1,560,000 applied and $15,000 underapplied $1,560,000 applied and $15,000 overapplied $1,600,000 applied and $15,000 overapplied $1,575,000 applied and neither under- nor overapplied

17 Scorpion Production Company planned to use 1 yard of plastic per unit budgeted at $81 a yard. However, the plastic actually cost $80 per yard. The company actually made 3,900 units, although it had planned to make only 3,300 units. Total yards used for production were 3,960. How much is the total materials variance? $3,960 F

$48,600 U $900 U $4,860 U

18 Which of the following statements concerning users of accounting information is incorrect?

Present creditors are considered external users.

Taxing authorities are considered external users.

Regulatory authorities are considered internal users.

Management is considered an internal user.

19 Top management notices a variation from budget and an investigation of the difference reveals that the department manager could not be expected to have controlled the variation. Which of the following statements is applicable?

Department managers should be credited for favorable variances even if they are beyond their control.

Department managers should be held accountable for all variances from budgets for their departments.

Department managers’ performances should not be evaluated based on actual results to budgeted results.

Department managers should only be held accountable for controllable variances for their departments.

20 Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base?

120% 83% 20% 108%

21

La More Company had the following transactions during 2016: Sales of $9,000 on account Collected $4,000 for services to be performed in 2017 Paid $3,750 cash in salaries for 2016

Purchased airline tickets for $500 in December for a trip to take place in 2017 What is La More’s 2016 net income using accrual accounting?

$9,250 $9,750 $5,250 $5,750 22 If there are no units in process at the beginning of the period, then: the units started into production will equal the number of units transferred out. the company must be using a job order cost system. the units to be accounted for will equal the units transferred out and the units in process at the end of the period. only one computation of equivalent units of production will be necessary.

23

Which of the following is not an underlying assumption of CVP analysis?

Sales mix is constant.

Beginning inventory is larger than ending inventory.

Cost classifications are reasonably accurate.

Changes in activity are the only factors that affect costs.

24.

In performing a vertical analysis, the base for sales revenues on the income statement is:​

​

net sales. ​

cost of goods available for sale. ​

sales revenue. ​

net income.

25

Differences between a job order cost system and a process cost system include all of the following except the:​ ​

unit cost computations.

​

flow of costs. ​

documents used to track costs. ​

point at which costs are totaled.

26 Henson Company began the year with retained earnings of $380,000.

During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Henson’s retained earnings at the end of the year?​ ​

$460,000 ​

$540,000 ​

$840,000 ​

$500,000

27 At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $6,000. What is the balance in Retained Earnings at September 30, 2017?​

​

$24,000 credit $423,000 debit

​

$426,000 credit ​

$441,000 credit

28

An activity-based overhead rate is computed as follows:​

​

estimated overhead divided by actual use of cost drivers. ​

actual overhead divided by estimated use of cost drivers. ​

estimated overhead divided by estimated use of cost drivers. ​

actual overhead divided by actual use of cost drivers.

29.

Which is the last step in developing the master budget?​

​

Preparing the cash budget ​

Preparing the cost of goods manufactured budget ​

Preparing the budgeted balance sheet

​

Preparing the budgeted income statement

30 The entry to record the acquisition of raw materials on account is:​

​ Manufacturing Overhead Raw Materials Inventory Accounts Payable ​

Work in Process Inventory Accounts Payable ​

Raw Materials Inventory Accounts Payable ​

Accounts Payable Raw Materials Inventory

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ACC 561 Final Guide (New, with Excel File)

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This Tutorial contains Excel Sheet to solve Problem for any Values

Exercise 1-6 (Part Level Submission) Calculate the net income.

Prepare the 2017 retained earnings statement for Metlock.Inc Exercise 1-14 Wayne Holtz is the bookkeeper for Bramble Corp.. Wayne has been trying to get the balance sheet of Bramble Corp. to balance. It finally balanced, but now he’s not sure it is correct Exercise 2-9 Nordstorm, Inc. operates department stores in numerous states.

Suppose selected financial statement data (in millions of dollars) for a recent year follows.

Compute working capital and current ratio at the beginning of the year and at the end of the year.

P2-5A Problem 2-5A The following are financial statements of Nash's Trading Post, LLC. Nash's Trading Post, LLC Income Statement For the Year Ended December 31, 2017 information: The net cash provided by operating activities for 2017 was $201,600. The cash used for capital expenditures was $110,700.

The cash used for dividends was $32,630. The weighted-average number of shares outstanding during the year was 50,000.

Expand Your Critical Thinking 13-4

The Coca-Cola company and PepsiCo, Inc. Provide refreshments to every corner of the world. Suppose selected data from recent consolidated financial statements for The Coca-Cola company and for PepsiCo, Inc. are presented here (in millions).

Brief Exercise 212 (Part Level Submission) The following items were taken from the financial statements of Mint, Inc., over a three-year period: Compute the amount and percentage change from 2016 to 2017.

Compute the amount and percentage change from 2017 to 2018.

Exercise 15-4 Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below.

Indicate the missing amount for each letter. Assume that in all cases manufacturing overhead is applied on the basis of direct labor cost and the rate is the same.

Multiple Choice Question 83 Barr Mfg. provided the following information from its accounting records for 2017: Expected production 60,000 labor hours Actual production

56,000 labor hours

Budgeted overhead

$900,000

Actual overhead

$870,000

How much is the overhead application rate if Barr bases the rate on direct labor hours?

Multiple Choice Question 94 If annual overhead costs are expected to be $750,000 and direct labor costs are expected to be $1,000,000, then if the activity base is direct labor costs: Multiple Choice Question 112 Gulick Company developed the following data for the current year: Beginning work in process inventory $240,000 Direct materials used 144,000 Actual overhead 288,000 Overhead applied 216,000 Cost of goods manufactured 264,000 Total manufacturing costs 720,000 Gulick Company's ending work in process inventory is Multiple Choice Question 43

Hartley Company produces two products, Flower and Planter. Flower is a high-volume item totaling 20,000 units annually. Planter is a lowvolume item totaling only 6,000 units per year. Flower requires one hour of direct labor for completion, while each unit of Planter requires 2 hours. Therefore, total annual direct labor hours are 32,000 (20,000 + 12,000). Expected annual manufacturing overhead costs are $960,000. Hartley uses a traditional costing system and assigns overhead based on direct labor hours. Each unit of Planter would be assigned overhead of Exercise 17-1 Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used.

Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company’s operations.

Standard

Custom

Direct labor costs

$50,000

Machine hours

1,390

1,280

Setup hours

105

380

$119,000

Total estimated overhead costs are $306,000. Overhead cost allocated to the machining activity cost pool is $197,000, and $109,000 is allocated to the machine setup activity cost pool.

Compute the overhead rate using the traditional (plantwide) approach.

(Round answer to 2 decimal places, e.g. 12.25.)

Predetermined overhead rate % of direct labor cost

Compute the overhead rates using the activity-based costing approach.

Determine the difference in allocation between the two approaches Exercise 17-9 Air United, Inc. manufactures two products: missile range instruments and space pressure gauges. During April, 46 range instruments and 296 pressure gauges were produced, and overhead costs of $84,100 were estimated. An analysis of estimated overhead costs reveals the following activities.

Perdon Corporation manufactures safes—large mobile safes, and large walk-in stationary bank safes. As part of its annual budgeting process, Perdon is analyzing the profitability of its two products. Part of this analysis involves estimating the amount of overhead to be allocated to each product line. The information shown below relates to overhead.

Multiple Choice Question 55 An example of a cost which would not be assigned to an overhead cost pool is Multiple Choice Question 71 Boswell Company manufactures two products, Regular and Supreme.

Boswell’s overhead costs consist of machining, $3,000,000; and assembling, $1,500,000. Information on the two products is: Regular Direct labor hours

Supreme 10,000 15,000

Machine hours 10,000 30,000 Number of parts 90,000 160,000 Overhead applied to Supreme using activity-based costing is

Multiple Choice Question 124 Kingbird, Inc. began the year with retained earnings of $925000.

During the year, the company issued $1274000 of common stock, recorded expenses of $3650000, and paid dividends of $242000. If Kingbird ending retained earnings was $985000, what was the company’s revenue for the year?

Multiple Choice Question 122 Sheffield Corp. began the year by issuing $106000 of common stock for cash. The company recorded revenues of $1214000, expenses of $965000, and paid dividends of $56000. What was Sheffield net income for the year?

Multiple Choice Question 131 Pharoah Company started the year with total assets of $219000 and total liabilities of $129000. During the year the business recorded $334000 in revenues, $171000 in expenses, and dividends of $54000.

The net income reported by Pharoah Company for the year was Multiple Choice Question 135 If total liabilities decreased by $131500 and stockholders’ equity decreased by $42000 during a period of time, then total assets must change by what amount and direction during that same period?

Multiple Choice Question 80 Use the following data to determine the total dollar amount of assets to be classified as current assets.

Multiple Choice Question 78 Use the following data to determine the total amount of working capital.

Multiple Choice Question 86

Swifty Corporation has assets of $3590000, common stock of $941000, and retained earnings of $600000. What are the creditors’ claims on their assets?

Multiple Choice Question 102 The following information is available for Bradshaw Corporation and Newell Corporation: (in millions)

2017

Bradshaw Corporation

2016

Preferred dividends Net income

2017

2016

25

10

500

480

0 490

Shares outstanding at the end of the year 200

Newell Corporation

30 520 200

Shares outstanding at the beginning at the year 200 220

180

150

180

150

Based on the information for both Bradshaw and Newell over the two-year period, the earnings per share calculations (rounded to two decimals) indicate that Multiple Choice Question 128 A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will Multiple Choice Question 131 Splish Brothers Inc. had a balance in the Accounts Receivable account of $766000 at the beginning of the year and a balance of

$864000 at the end of the year. Net credit sales during the year amounted to $6417000. The accounts receivable turnover was Multiple Choice Question 80 Use the following data to determine the total dollar amount of assets to be classified as current assets. Oriole Company Balance Sheet Multiple Choice Question 78 Use the following data to determine the total dollar amount of assets to be classified as current assets. Novak Corp. Balance Sheet Multiple Choice Question 86 Swifty Corporation has assets of $3590000, common stock of $941000, and retained earnings of $600000. What are the creditors’ claims on their assets?

Multiple Choice Question 102 Based on the information for both Bradshaw and Newell over the two-year period, the earnings per share calculations (rounded to two decimals) indicate that Multiple Choice Question 128 A company with $60,000 in current assets and $35,000 in current liabilities pays a $1,000 current liability. As a result of this transaction, the current ratio and working capital will Multiple Choice Question 131 Splish Brothers Inc. had a balance in the Accounts Receivable account of $766000 at the beginning of the year and a balance of $864000 at the end of the year. Net credit sales during the year amounted to $6417000. The accounts receivable turnover was Multiple Choice Question 134

Novak Corp. had a balance in the Accounts Receivable account of $813000 at the beginning of the year and a balance of $906000 at the end of the year. Net credit sales during the year amounted to $8068000. The accounts receivable turnover was Exercise 171 Moresan Co. gathered the following information on power costs and factory machine usage for the last six months: Exercise 19-18 Langdon Company produced 9,600 units during the past year, but only 8,500 of the units were sold. The following additional information is also available. There was no work in process inventory at the beginning and end of the year, nor did Langdon have any beginning finished goods inventory. ******************************************

ACC 561 Final Guide 1 (UOP Course)

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1) Department performance reports can be used to help department heads determine _____.

2) Performance reports _____.

3) According to the Financial Executives Institute, one function of controllership is _____.

4) Which of the following is not a major factor causing changes in management accounting today? A. Increasing importance of the service sector of the economy is not a major factor.

5) Ethical accountants are important to society because _____.

6) According to the Institute of Management Accountants' Statement of Ethical Professional Practice, the standard of competence includes: 7) Which scorecard function is associated with making non-routine decisions?

8) The primary users of management accounting information are _____.

9) _____ is the field of accounting that develops information for external decision makers such as stockholders, suppliers, banks, and government regulatory agencies.

10) The _____ is also called the statement of financial position.

11) Etiwanda Company's accountant recorded a debit to Accounts Payable and a credit to Cash. This transaction will_____.

12) The _____ is not one of the three major financial statements.

13) The accounting convention of _____ guides the relative sophistication of the accounting system.

14) The accounting convention of _____ means selecting the method of measurement that yields the gloomiest immediate results.

15) The use of acquisition cost less depreciation in valuing an asset on the balance sheet is the logical result of the _____ accounting convention.

16) The statement of cash flows is used for all of the following except_____.

17) The Rebecca Company acquired merchandise inventory costing $10,000 on September 1. The company will not pay for the inventory until October 1. This transaction will affect the Rebecca Company by increasing the Merchandise Inventory account by $10,000 and _____.

18) Output measures of both resources and activities are _____.

19) Nonoperating items on the income statement_____.

20) Number of engineering hours is a likely cost driver for which value chain function?

21) Which value chain function would include advertising costs?

22) Walnut Corporation sells desks at $480 per desk. The costs associated with each desk are as follows: Direct materials $195 Direct labor 126 Variable factory overhead 51 23) If the sales price per unit is $100, the unit variable cost is $75, and total fixed costs are $150,000, then the break even volume in dollar sales rounded to the nearest whole dollar is _____.

24) Hug Me Company produces dolls. Each doll sells for $20.00.

Variable costs per unit total $14.00, of which $6.25 is for direct materials and $5.25 is for direct labor. If total fixed costs are $435,000, then the break even volume in dollars is _____.

25) The _____ method of measuring cost functions is the least reliable.

26) _____ of approximating cost functions does not involve the analysis of past costs.

27) Managers should apply two principles to obtain accurate and useful cost functions. These principles are ____ 28) The change from traditional costing to activity-based costing may reveal that _____.

29) _____ need cost accounting systems.

30) A sales forecast is _____.

31) _____ is an example of the external financial reporting purpose of the cost management systems.

32) _____ models are mathematical models of the master budget that can react to any set of assumption about sales, costs, and product mix.

33) A _____ gives the expected sales under a given set of conditions.

34) A _____ gives the expected sales under a given set of conditions.

35) Important factors considered by sales forecasters include all of the following except _____.

36) The master budget includes forecasts for all of the following except _____.

37) The master budget quantifies targets for all of the following except _____.

38) _____ are components of a master budget.

39) Differences between the static budget and the flexible budget are due to _____.

40) The use of budgeted service department cost rates protects using departments from _____.

41) Cost allocation base refers to the _____.

42) The preferred guidelines for allocating service department costs include _____.

43) Murphy Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year: 44) Gomez Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year _____.

Maintenance Personnel Mixing Finishing Direct dept. costs $126,000 $84,000 $105,000 $175,000 45) Serena Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year: Maintenance Personnel Mixing Finishing 46) In absorption costing, costs are separated into the major categories of_____.

47) Absorption costing assigns _____ to the product.

48) Factory overhead appears on the absorption-costing income statement as_____.

49) _____ is the first step in designing a management control system.

50) _____ is (are) the most basic component of a management control system.

51) Identify which of the following is not a characteristic of a management control system.

52) The following information is available for the Peter Company: Sales $500,000 Invested Capital 312,500 ROI 10% 53) _____ is a measure of income or profit divided by the investment required to obtain that income or profit.

54) The following information is available for the Peter Company: Sales $150,000 ******************************************

ACC 561 Final Guide 2 (UOP Course)

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1) According to the Financial Executives Institute, one function of controllership is _____.

2) Performance reports _____.

3) Budgets _____.

4) Ethical accountants are important to society because _____.

5) According to the Institute of Management Accountants’ Statement of Ethical Professional Practice, the standard of competence includes: 6) According to the Institute of Management Accountants’ Statement of Ethical Professional Practice, the standard of objectivity includes _____.

7) Which scorecard function is associated with making non-routine decisions?

8) _____ is the field of accounting that develops information for external decision makers such as stockholders, suppliers, banks, and government regulatory agencies.

9) Launching a new product line is an example of _____.

10) The _____ is also called the statement of financial position.

11) The accrual basis of accounting recognizes the impact of transactions on the financial statements in the period when _____.

12) The _____ is not one of the three major financial statements.

13) The use of acquisition cost less depreciation in valuing an asset on the balance sheet is the logical result of the _____ accounting convention.

14) The accounting convention of _____ guides the relative sophistication of the accounting system.

15) The accounting convention of _____ means selecting the method of measurement that yields the gloomiest immediate results.

16) The statement of cash flows is used for all of the following except_____.

17) The difference between a single and multiple step income statement is that a single step income statement_____.

18) Sylvester Company requires clients to pay in advance for legal services. One such client made a $4,000 payment on May 1, and Sylvester Company recorded this transaction in the appropriate liability account. As of May 20, the legal services that the client requested had been completed. The May 20 accounting entry will: 19) Output measures of both resources and activities are _____.

20) Which of the following is not a cost driver of customer services costs?

21) Which value chain function would include the cost of computeraided design equipment and cost to develop the prototype of a product?

22) Walnut Corporation sells desks at $480 per desk. The costs associated with each desk are as follows: Direct materials Total fixed costs for the period are $456,840. The contribution margin per desk is _____.

23) Hug Me Company produces dolls. Each doll sells for $20.00.

Variable costs per unit total $14.00, of which $6.25 is for direct materials and $5.25 is for direct labor. If total fixed costs are $435,000, then the break even volume in dollars is _____.

24) If the sales price per unit is $100, the unit variable cost is $75, and total fixed costs are $150,000, then the break even volume in dollar sales rounded to the nearest whole dollar is _____.

25) _____ of approximating cost functions does not involve the analysis of past costs.

26) In relation to a cost function, the term reliability means_____.

27) The _____ method of measuring cost functions is the least reliable.

28) _____ is a name for a system that first accumulates overhead costs for each of the activities of an organization, and then assigns the costs of activities to the products, services, or other cost objects that caused that activity.

29) The change from traditional costing to activity-based costing may reveal that _____.

30) _____ is an example of the external financial reporting purpose of the cost management systems.

31) _____ models are mathematical models of the master budget that can react to any set of assumption about sales, costs, and product mix.

32) Budgets generate negative feelings if they are _____.

38) The master budget quantifies targets for all of the following except _____.

39) Differences between the static budget and the flexible budget are due to _____.

40) Costs are allocated for all the following purposes except to _____.

41) The use of budgeted service department cost rates protects using departments from _____.

42) Cost allocation base refers to the _____.

43) Murphy Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year: 46) In absorption costing, costs are separated into the major categories of_____.

47) _____ is another term for variable costing.

48) When the variable costing method is used, fixed factory overhead appears on the income statement as a_____.

49) _____ is the first step in designing a management control system.

50) _____ is (are) the most basic component of a management control system.

51) Identify which of the following is not a characteristic of a management control system.

52) The following information is available for the Peter Company: Sales $500,000 53) _____ is a measure of income or profit divided by the investment required to obtain that income or profit. A. Return on investment 54) The following information is available for the Peter Company: Sales $150,000 ******************************************

ACC 561 Final Guide 3 (UOP Course)

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1) According to the Financial Executives Institute, one function of the treasurer is _____ 2) Budgets _____.

3) Department performance reports can be used to help department heads determine _____.

4) Ethical accountants are important to society because _____.

5) Below is a statement from the Institute of Management Accountants’ Statement of Ethical Professional Practice. “Refrain from disclosing confidential information acquired in the course of their work except when authorized, unless legally obligated to do so.�

It is an 7) _____ refers to accounting information developed for managers within an organization.

8) _____ is the field of accounting that develops information for external decision makers such as stockholders, suppliers, banks, and government regulatory agencies.

9) Launching a new product line is an example of _____ 10) _____ would not appear on the financial statements for a sole proprietorship.

11) The _____ is also called the statement of financial position.

12) The accrual basis of accounting recognizes the impact of transactions on the financial statements in the period when _____ 13) The accounting convention of _____ guides the relative sophistication of the accounting system.

14) The accounting convention of _____ permits a company to immediately expense assets (such as a garbage can) with small values and long useful lives.

15) Mr. Bryant invested $50,000 cash in a new corporation. The new corporation will record this transaction with a debit to_____ 16) The difference between a single and multiple step income statement is that a single step income statement_____ 17) The Rebecca Company acquired merchandise inventory costing $10,000 on September 1. The company will not pay for the inventory until October 1. This transaction will affect the Rebecca Company by increasing the Merchandise Inventory account by $10,000 and _____.

18) Limited liability means that_____.

19) Which value chain function would include depreciation on transportation cost?

20) Number of engineering hours is a likely cost driver for which value chain function?

21) Which value chain function would include the cost of computeraided design equipment and cost to develop the prototype of a product?

22) Walnut Corporation sells desks at $480 per desk. The costs associated with each desk are as follows: Direct materials Total fixed costs for the period are $456,840. The contribution margin per desk is _____.

23) Hug Me Company produces dolls. Each doll sells for $20.00.

Variable costs per unit total $14.00, of which $6.25 is for direct materials and $5.25 is for direct labor. If total fixed costs are $435,000, then the break even volume in dollars is _____.

24) If the sales price per unit is $100, the unit variable cost is $75, and total fixed costs are $150,000, then the break even volume in dollar sales rounded to the nearest whole dollar is _____.

25) _____ of approximating cost functions does not involve the analysis of past costs.

26) In relation to a cost function, the term reliability means_____.

27) The _____ method of measuring cost functions is the least reliable.

28) _____ is a name for a system that first accumulates overhead costs for each of the activities of an organization, and then assigns the costs of activities to the products, services, or other cost objects that caused that activity.

29) The change from traditional costing to activity-based costing may reveal that _____.

30) _____ is an example of the external financial reporting purpose of the cost management systems.

31) _____ models are mathematical models of the master budget that can react to any set of assumption about sales, costs, and product mix.

32) Budgets generate negative feelings if they are _____.

38) The master budget quantifies targets for all of the following except _____.

39) Differences between the static budget and the flexible budget are due to _____.

40) Costs are allocated for all the following purposes except to _____.

41) The use of budgeted service department cost rates protects using departments from _____.

42) Cost allocation base refers to the _____.

43) Murphy Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year: 46) In absorption costing, costs are separated into the major categories of_____.

47) _____ is another term for variable costing.

48) When the variable costing method is used, fixed factory overhead appears on the income statement as a_____.

49) _____ is the first step in designing a management control system.

50) _____ is (are) the most basic component of a management control system.

51) _____ is (are) the most basic component of a management control system.

52) The following information is available for the Peter Company: Sales $150,000 Invested Capital 156,250 ROI 10% The return on sales is _____.

53) Jewel Company’s revenues are $300 and invested capital is $240.

Expenses are currently 60% of sales. Jewel Company’s current return on investment is _____.

54) Speedo Company’s revenues are $300 on invested capital of $240.

Expenses are currently 70% of sales. If Angelo Company can reduce its invested capital by 20%, return on investment will be _____ ******************************************

ACC 561 Final Guide 4 (UOP Course)

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1) Department performance reports can be used to help department heads determine _____.

2) Performance reports _____.

3) According to the Financial Executives Institute, one function of controllership is _____.

4) Which of the following is not a major factor causing changes in management accounting today? A. Increasing importance of the service sector of the economy is not a major factor.

5) Ethical accountants are important to society because _____.

6) According to the Institute of Management Accountants' Statement of Ethical Professional Practice, the standard of competence includes: 7) Which scorecard function is associated with making non-routine decisions?

8) The primary users of management accounting information are _____.

9) _____ is the field of accounting that develops information for external decision makers such as stockholders, suppliers, banks, and government regulatory agencies.

10) The _____ is also called the statement of financial position.

11) Etiwanda Company's accountant recorded a debit to Accounts Payable and a credit to Cash. This transaction will_____.

12) The _____ is not one of the three major financial statements.

13) The accounting convention of _____ guides the relative sophistication of the accounting system.

14) The accounting convention of _____ means selecting the method of measurement that yields the gloomiest immediate results.

15) The use of acquisition cost less depreciation in valuing an asset on the balance sheet is the logical result of the _____ accounting convention.

16) The statement of cash flows is used for all of the following except_____.

17) The Rebecca Company acquired merchandise inventory costing $10,000 on September 1. The company will not pay for the inventory until October 1. This transaction will affect the Rebecca Company by increasing the Merchandise Inventory account by $10,000 and _____.

18) Output measures of both resources and activities are _____.

19) Nonoperating items on the income statement_____.

20) Number of engineering hours is a likely cost driver for which value chain function?

21) Which value chain function would include advertising costs?

22) Walnut Corporation sells desks at $480 per desk. The costs associated with each desk are as follows:

Direct materials $195 Direct labor 126 Variable factory overhead 51 23) If the sales price per unit is $100, the unit variable cost is $75, and total fixed costs are $150,000, then the break even volume in dollar sales rounded to the nearest whole dollar is _____.

24) Hug Me Company produces dolls. Each doll sells for $20.00.

Variable costs per unit total $14.00, of which $6.25 is for direct materials and $5.25 is for direct labor. If total fixed costs are $435,000, then the break even volume in dollars is _____.

25) The _____ method of measuring cost functions is the least reliable.

26) _____ of approximating cost functions does not involve the analysis of past costs.

27) Managers should apply two principles to obtain accurate and useful cost functions. These principles are ____ 28) The change from traditional costing to activity-based costing may reveal that _____.

29) _____ need cost accounting systems.

30) A sales forecast is _____.

31) _____ is an example of the external financial reporting purpose of the cost management systems.

32) _____ models are mathematical models of the master budget that can react to any set of assumption about sales, costs, and product mix.

33) A _____ gives the expected sales under a given set of conditions.

34) A _____ gives the expected sales under a given set of conditions.

35) Important factors considered by sales forecasters include all of the following except _____.

36) The master budget includes forecasts for all of the following except _____.

37) The master budget quantifies targets for all of the following except _____.

38) _____ are components of a master budget.

39) Differences between the static budget and the flexible budget are due to _____.

40) The use of budgeted service department cost rates protects using departments from _____.

41) Cost allocation base refers to the _____.

42) The preferred guidelines for allocating service department costs include _____.

43) Murphy Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year: 44) Gomez Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year _____.

Maintenance Personnel Mixing Finishing Direct dept. costs $126,000 $84,000 $105,000 $175,000

45) Serena Company has two service departments, Maintenance and Personnel, as well as two production departments, Mixing and Finishing. Maintenance costs are allocated based on square footage while personnel costs are allocated based on number of employees.

The following information has been gathered for the current year: Maintenance Personnel Mixing Finishing 46) In absorption costing, costs are separated into the major categories of_____.

47) Absorption costing assigns _____ to the product.

48) Factory overhead appears on the absorption-costing income statement as_____.

49) _____ is the first step in designing a management control system.

50) _____ is (are) the most basic component of a management control system.

51) Identify which of the following is not a characteristic of a management control system.

52) The following information is available for the Peter Company: Sales $500,000 Invested Capital 312,500 ROI 10% 53) _____ is a measure of income or profit divided by the investment required to obtain that income or profit.

54) The following information is available for the Peter Company: Sales $150,000 ******************************************

ACC 561 Final Guide All 4 Sets (UOP Course)

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ACC 561 Final Guide All 4 Sets ******************************************

ACC 561 Final Guide All 4 Sets (UOP Course)

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ACC 561 Final Guide All 4 Sets ******************************************

ACC 561 Week 1 Financial Statement Differentiation Paper (New Syllabus)

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Financial Statement Differentiation Instructions: Write a paper between 700 and 1,000 words discussing the four different types of financial statement. Explain the information provided by each financial statement and include specific examples.

Incorporate your responses to the following questions. Which financial statement or statement would be of most interest to investors, creditors and management. Why? Format your paper consistent with APA guidelines and submit your paper and plagiarism review file via the assignment files tab. ******************************************

ACC 561 Week 1 Individual Assignment Financial Statement Differentiation Paper

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Write a paper of approximately 700 words discussing the four different types of financial statements.

Explain the information provided by each statement and respond to the following questions.

-Which financial statement, or statements, would be of most interest to investors?

-Which financial statement, or statements, would be of most interest to creditors?

-Which financial statement, or statements, would be of most interest to management? the Assignment Files tab to submit your assignment.

ACC 561 Week 1 Individual Assignment Financial Statement Review

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Select an American corporation.

Visit its website and download the Income Statement, Statement of Stockholders Equity, Balance Sheet, and Statement of Cash Flows.

Complete the University of Phoenix Material: Financial Statement Review Worksheet.

Submit the completed worksheet, copies of the downloaded financial statements, and a link to the website. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) (New Syllabus)

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Purpose of Assignment This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company's liquidity, solvency, and profitability.

Assignment Steps

Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC), University Library, Library resources: Company Directories and Financials Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past.

Research the company on the Internet and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 700-word examination of the financial statements and include the following: • Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year?

• Explain the relevance of changes in net income to investors.

• Determine the ending balance in shareholders' equity. Why would organizations such as labor unions be interested in this?

• Determine the total value of assets.

• Discuss the relevance of the total value of assets to potential creditors and why this is important.

• Compute the return on assets. Discuss the relative profitability of the company based on your results.

• Compute the working capital and current ratio. Evaluate the relative liquidity of the company based on your results.

• Compute the debt to assets ratio and the free cash flow for your company. Analyze the results and comment on the relative solvency of the company.

• Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making?

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft® Word or Excel®.

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) For more course tutorials visit

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This Tutorial contains 2 Papers of this Assignment

Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past.

Research the company via the website and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.

Develop a 700-word examination of the financial statements and include the following:        

Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year?

Explain the relevance of changes in net income to investors.

Determine the ending balance in shareholders' equity. Why would organizations such as Labor Unions be interested in this?

Determine the total value of assets.

Discuss the relevance of the total value of assets to potential creditors and why this is important.

Determine the total cash flow from the operation.

Explain which users would find the financial statements most important.

Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making?

Include the financial statements along with your assignment.

Format your assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 1 Individual Assignment Financial Statements (Walt Disney)

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Purpose of Assignment This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company's liquidity, solvency, and profitability.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC), University Library, Library resources: Company Directories and Financials Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past.

Research the company on the Internet and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 700-word examination of the financial statements and include the following: • Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year?

• Explain the relevance of changes in net income to investors.

• Determine the ending balance in shareholders' equity. Why would organizations such as labor unions be interested in this?

• Determine the total value of assets.

• Discuss the relevance of the total value of assets to potential creditors and why this is important.

• Compute the return on assets. Discuss the relative profitability of the company based on your results.

• Compute the working capital and current ratio. Evaluate the relative liquidity of the company based on your results.

• Compute the debt to assets ratio and the free cash flow for your company. Analyze the results and comment on the relative solvency of the company.

• Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making?

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft® Word or Excel®.

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 1 Individual WileyplusAssignment (with Excel File)

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This Tutorial comes with Excel File to solve for any values Resource: WileyPLUS Complete the following Week 1 Assignment in WileyPLUS: Brief Exercise: 1-7 Brief Exercise: 1-8 Brief Exercise 1-7 Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows. (a)

Revenue during the period.

(b)

Supplies on hand at the end of the year.

(c) period.

Cash received from issuing new bonds during the

(d)

Total debts outstanding at the end of the period.

Brief Exercise 1-8 Use the basic accounting equation to answer these questions. (a) The liabilities of Lantz Company are $93,800 and the stockholders’ equity is $245,000. What is the amount of Lantz Company’s total assets? (b) The total assets of Salley Company are $183,000 and its stockholders’ equity is $81,000. What is the amount of its total liabilities? (c) The total assets of Brandon Co. are $860,000 and its liabilities are equal to one-fourth of its total assets. What is the amount of Brandon Co.’s stockholders’ equity? ******************************************

ACC 561 Week 1 Individual WileyplusAssignment

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In the New Assignment Questions are same just named as 1,2

Resource: WileyPLUS Complete the following Week 1 Assignment in WileyPLUS: • Brief Exercise: 1-7 • Brief Exercise: 1-8 In the New Assignment Questions are same just named as 1,2 ******************************************

ACC 561 Week 1 Wileyplus Practice Quiz

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www.tutorialrank.com 1. The proprietorship form of business organization 2. Most business enterprises in the United States are 3. A business organized as a separate legal entity is a 4. Which of the following is the best definition of an internal user of accounting information?

5. Which of the following groups uses accounting information primarily to insure the entity is operating within prescribed rules?

6. Which of the following groups uses accounting information to determine whether the company can pay its obligations?

7. Which of the following financial statements is divided into major categories of operating, investigating, and financing activities?

8. Ending retained earnings for a period is equal to:

9. The financial statement that summarizes the changes in retained earnings for a specific period of time is the 10. To show how successfully your business performed during a period of time, you would report its revenues and expenses in the 11. Which financial statement is prepared first?

12. An income statement shows 13. Dawson Corporation has the following information available for 2011:

Based on this information, what is Dawson’s Common Stock balance at the end of the year?

14. Declaring a cash dividend will 15. At December 31, 2012 Lowery Company had retained earnings of $2,184,000. During 2012 they issued stock for $98,000, and paid dividends of $34,000. Net income for 2012 was $402,000. The retained earnings balance at the beginning of 2012 was: 16. Which of the following organizations issues accounting standards for countries outside the United States?

17. Generally accepted accounting principles 18. The agency of the United State Government that oversees the U.S. financial markets is the 19. What organization issues U.S. accounting standards?

20. Two of the major characteristics that make accounting information useful are ******************************************

ACC 561 Week 2 Assignment Accounting Methods (Bizcon, 2 Papers)

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This Tutorial contains 2 Papers

Purpose of Assignment This week's activity illustrates the role a company's accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company's sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day

financing - meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year.

As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments.

Prepare the memo in a maximum 700 words including the following information to better outline the situation: • Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting. • Assess how at the end of the year, BizCon reported a favorable net income, yet the company's management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash. ******************************************

ACC 561 Week 2 Assignment Accounting Methods (Bizcon, New Syllabus)

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Purpose of Assignment This week's activity illustrates the role a company's accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the impact on both cash and accrual accounting methods.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: BizCon, a consulting firm, has just completed its first year of operations. The company's sales growth was explosive. To encourage clients to hire its services, BizCon offered 180-day financing - meaning its largest customers do not pay for nearly 6 months. Because BizCon is a new company, its equipment suppliers insist on being paid cash on delivery. Also, it had to pay up front for 2 years of insurance. At the end of the year, BizCon owed employees for one full month of salaries, but due to a cash shortfall, it promised to pay them the first week of next year.

As the senior accountant, the Chief Financial Officer has asked you to prepare a memo to be sent to management notifying them of the delayed wage payments.

Prepare the memo in a maximum 700 words including the following information to better outline the situation:

• Explain how cash and accrual accounting differs for each of the events listed in the above scenario and describe the proper accrual accounting. ****************************************** • Assess how at the end of the year, BizCon reported a favorable net income, yet the company's management is concerned because the company is very short of cash. Explain to management how BizCon could have positive net income and yet run out of cash.

ACC 561 Week 2 Individual Assignment Accounting and The Regulatory Environment Presentation

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In the wake of the accounting and finance scandals of the early 2000s, the regulatory environment for businesses changed dramatically to create more accountability and transparency. Agencies like the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) play a greater role in enforcing and auditing companies for compliance to regulations such as the Sarbanes-Oxley Act of 2002.

Select an accounting regulatory or standards agency (e.g. PCAOB, IASB, etc.)

Select a public company that you either currently work for, have worked for in the past, or one with which you are familiar.

Create a presentation with an analysis of the regulatory environment: Identify one or more regulations that would apply to your selected company.

Discuss the ways that compliance with the regulations is beneficial to the company, industry, and consumers.

Examine how the agency you selected and your selected company work together.

Explain the role of ethics in the regulatory environment.

Discuss the ways in which the regulatory environment would directly affect your role in the company in either your current role or your desired career with the organization.

Format your assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 2 Individual Assignment Accounting The Regulatory Environment (2 Papers)

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This Tutorial contains 2 Papers of this Assignment

In the wake of the accounting and finance scandals of the early 2000s, the regulatory environment for businesses changed dramatically to create more accountability and transparency. Agencies like the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) play a greater role in enforcing and auditing companies for compliance to regulations such as the Sarbanes-Oxley Act of 2002.

Select an accounting regulatory or standards agency (e.g. PCAOB, IASB, etc.)

Select a public company that you either currently work for, have worked for in the past, or one with which you are familiar.

Create a 1,050-word analysis of the regulatory environment: Identify one or more regulations that would apply to your selected company.

Discuss the ways that compliance with the regulations is beneficial to the company, industry, and consumers.

Examine how the agency you selected and your selected company work together.

Explain the role of ethics in the regulatory environment.

Discuss the ways in which the regulatory environment would directly affect your role in the company in either your current role or your desired career with the organization.

Format your assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 2 Individual Assignment Sarbanes-Oxley Act of 2002 (2 Papers)

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This Tutorial contains 2 Different Papers Write a paper that describes the main aspects of the regulatory environment which will protect the public from fraud within corporations, Pay particular attention to SOX requirements.

Required Elements: • No more than 1400 words • Specifically evaluate whether SOX will be effective in avoiding future frauds.

• Format consistent with APA guidelines the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 2 Learning Team Reflection ( comparative and ratio analysis)

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Write a paper of no more than 750 words in which you discuss the difference between comparative and ratio analysis. Differentiate and share the purpose and importance of each. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 2 Small Business Analysis (New Syllabus)

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Small Business Analysis Instructions: You are interested in establishing a small business and you must decide which of the four forms of business organization would best suit your unique product or service. Consider legal, tax, accounting, and other implications when selecting from the four business types.

Write a paper between 1,000 and 1,500 words discussing your smallbusiness idea. Include the following:

1. The advantages and dis advantages of the four different forms of business organization, Which include sole proprietorship, partnership,C-corporation, and S-corporation s.

2. Identify which accounting method (i.e. cash versus accrual) you plan to use for your business. Why did you select this choice?

3. An explanation of the product or service your small business provides.

4. State three business transactions you expect to incur to with your company. Discuss how the transactions impact your income statement, balance sheet and statement of cash flow.

5. Select an organization type for your company and explain why you selected this option.

Format your paper consistent with APA guidelines and submit your paper and plagiarism review file via the assignment files tab. ******************************************

ACC 561 Week 2 Team Assignment Financial Statement Relationship Paper

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Respond to the following questions in approximately 500 words.

In what ways do the elements of the four financial statements interact with one another? How might changing one of the financial statements affect the other financial statements? Why is it essential to understand the relationship between the financial statements?

This paper does not have to be in APA format but please double space the paper and include a title page with identifying information. ******************************************

ACC 561 Week 2 Wileyplus Practice Quiz

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1. The relationship between current assets and current liabilities is important in evaluating a company’s 2. Which of the following is a measure of liquidity?

3. Current assets divided by current liabilities is known as the 4. Danner Corporation reported net sales of $600,000 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?

5. In analyzing financial statements, horizontal analysis is a 6. Comparative balance sheets 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?

8. Comparisons of data within a company are an example of the following comparative basis: 9. The following schedule is a display of what type of analysis?

Amount Percent Current assets $100,00 25% Property, plant, and equipment 300,000 75% Total assets $400,000 100% 10. A common measure of profitability is the 11. Which one of the following would be considered a long-term solvency ratio?

12. The current ratio is 13. Richards, Inc. has the following income statement (in millions): RICHARDS, INC. Income Statement For the Year Ended December 31, 2012 Net Sales $180 Cost of Goods Sold 60 Gross Profit 120 Operating Expenses 75 Net Income $45 Using vertical analysis, what percentage is assigned to net income? ******************************************

ACC 561 Week 3 Assignment Ratio Analysis (P Jason, New Syllabus)

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Purpose of Assignment

This week's focus is on the preparation of financial reports for internal users, such as managers. This case study applies the concepts of managerial accounting, through comparative and ratio analysis, and requires students to identify financial data needed by managers for decision making.

About Your Signature Assignment This signature assignment is designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. The signature assignments may be graded with an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for program improvements.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: You are a loan officer for White Sands Bank of Taos. Paul Jason, president of P. Jason Corporation, has just left your office. He is interested in an 8-year loan to expand the company's operations.

The borrowed funds would be used to purchase new equipment. As evidence of the company's debt-worthiness, Jason provided you with the following facts: 2017 2016 Current Ratio

3.1 2.1 Asset Turnover 2.8 2.2 Net Income Up 32% Down 8% Earnings per Share $3.30 $2.50 Jason is a very insistent (some would say pushy) man. When you told him you would need additional information before making your decision, he acted offended and said, "What more could you possibly want to know?" You responded you would , at minimum, need complete, audited financial statements.

Develop a minimum 700-word examination of the financial statements and include the following: ¡ Explain why you would want the financial statements to be audited. ¡ Discuss the implications of the ratios provided for the lending decision you are to make. That is, does the information paint a favorable picture? Are these ratios relevant to the decision? State why or why not.

路 Evaluate trends in the performance of White Sands Bank.

Identify each performance measure as favorable or unfavorable and explain the significance of each. 路 List three other ratios you would want to calculate for White Sands Bank of Taos, and in your own words explain in detail why you would use each. 路 As the loan officer, what else would you do to gain a better understanding of Paul Jason's, and the Corporation's financial picture and why? 路 Based on your analysis of White Sands Bank, will you recommend approval for the requested loan? Provide specific details to support your decision.

Format the assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 3 Business Plan Develop a business plan and financial metrics

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Business Plan Develop a business plan and financial metrics Instructions: Prepare a business plan between 1,500 and 3,250 words in order to secure a loan for Tootsie Roll Inc. The loan will increase the company’s total liabilities by 10%. The contents of the plan should include the following: 1. Complete a financial analysis in Excel using, in part, the financial and management information included with the company’s website.

This includes historical and projected financial statement, a three year historical ratio analysis of the company’s financial statement and a three year projected ratio analysis of the company’s financial statement. provide several types of liquidity, solvency. And profitability ratios and explain the results. In order to support your projections, include a list of all assumptions and issues that influenced your team’s decisions. Incorporate industry comparisons and analysis. Include an organized list or table of all financial ratios in your paper and calculate a variance analysis for each year. The variance analysis indicates the net increase or decrease of a particular financial ratio from one year as compared to the following year. Submit the final spreadsheet with your team’s paper. Additions details and guidance provide via the week 3 projects thread.

2. Incorporate the applicable of a business plan identified via research. For further information review the business plan requirements posted to the week 3 project thread.

3. Discuss the underlying business factors and operational constraints that are driving thr company to seek a loan.

4. Explains how the company plans to use the proceeds from the loan. How will a new impact the company ?

Format your paper consistent with APA guidelines and submit your paper and plagiarism review file via the assignment files tab. ******************************************

ACC 561 Week 3 Team Assignment American Corporation Analysis

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Select an American corporation.

Visit its website and download its financial statements.

Write a paper of no more than 1250 words in which you conduct a comparative and ratio analysis to measure profitability and liquidity. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 3 Team Assignment Financial Statement Analysis (2 Set)

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This Tutorial contains 2 Papers of this Assignment Learning Team members will refer back to their Week 1 Individual Assignment and perform the calculations using the financial statements from their individual companies.

Part I Complete the following: Perform at least one profitability ratio to measure the income and operating success of your selected company.

Perform at least one liquidity ratio to measure the ability of the company to pay short-term debt and meet unexpected needs.

Perform at least one solvency ratio to measure the ability of the company to survive in the long-term.

Review all of the calculations of the different companies as a team.

Compare the profitability, liquidity, and solvency ratios.

Complete a spreadsheet that presents the profitability, liquidity, and solvency ratios comparatively for all of the companies.

Highlight the company that has the best numbers for each ratio.

Part II Develop a 700-word evaluation of the selected companies in which the team does the following: Evaluate the financial opportunity presented by the companies. If the team was going to lend money to one of the companies reviewed, which one would it be? Defend the team's decision.

Evaluate the investment opportunity presented by the companies. If the team could invest $100,000 in one of the companies, which would the team select? Provide the rationale.

Evaluate the employment opportunity presented by the companies. If the team members could work for any of the companies, which company would the team select? Defend the team's decision.

Format the assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 3 Team Assignment Financial Statement Analysis

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Learning Team members perform the calculations using the financial statements from their individual companies.

Part I Complete the following: Perform at least one profitability ratio to measure the income and operating success of your selected company.

Perform at least one liquidity ratio to measure the ability of the company to pay short-term debt and meet unexpected needs.

Perform at least one solvency ratio to measure the ability of the company to survive in the long-term.

Review all of the calculations of the different companies as a team.

Compare the profitability, liquidity, and solvency ratios.

Complete a spreadsheet that presents the profitability, liquidity, and solvency ratios comparatively for all of the companies.

Highlight the company that has the best numbers for each ratio.

Part II Develop a presentation with an evaluation of the selected companies in which the team does the following: Evaluate the financial opportunity presented by the companies. If the team was going to lend money to one of the companies reviewed, which one would it be? Defend the team's decision.

Evaluate the investment opportunity presented by the companies. If the team could invest $100,000 in one of the companies, which would the team select? Provide the rationale.

Evaluate the employment opportunity presented by the companies. If the team members could work for any of the companies, which company would the team select? Defend the team's decision.

Format the assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 3 Team Assignment Tootsie Roll Industries Inc. Loan Package

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Please read the detailed instructions for this assignment in the learning activities for this week. You must follow all instructions for this assignment. Please see the attached grading rubric for this assignment.

Conduct an Internet search information on how to assemble a loan package by researching loan package requirements at The U.S. Small Business Administration website (http://www.sba.gov/) or on other websites, such as the SCORE website (http://www.score.org/).

Research the specific loan package requirements of creditors, such as American Express, by reviewing their websites.

Prepare a loan package of approximately1,250 words to secure a loan for Tootsie Roll Industries Inc. that would increase the

company's total liabilities by 10%. Your loan package should include the following: • A ratio analysis of the financial statements for Tootsie Roll Industries Inc., including several types of liquidity, solvency, and profitability ratios and an explanation of each ratio • A justification of the reason the company needs this loan; the purpose might be for expansion, inventory purchases, debt retirement, and so on • An explanation of how the company plans use the proceeds from the loan and of how loan approval might affect the company Cite your sources consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 3 Team Financial Statement Analysis and Decision Making Activity

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Week Three Learning Team Purpose of Assignment The activity requires students to perform research and analysis on competing companies and the potential implications of international standards. This real-world analysis is key to understanding how a company's profitability, liquidity, and solvency can be useful for all users. Students also learn to analyze financial statements and use

managerial tools to make decisions from an investor's and creditor's standpoint.

Assignment Steps Resources: U.S. Securities and Exchange Commission (SEC), websites such as Annual Reports (AnnualReports.com) Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Select two competing companies, one of which must be an international company, and locate annual reports for these two companies on the Internet.

Research the two companies on the Internet and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.

Develop a minimum 525-word examination of the financial statements and include the following: · Make a 5-year trend analysis for each company, using 2011 as the base year, of: o Net sales. o Net income. Discuss the significance of the trend results. · Compute for 2015 and 2014 the: o Debt to assets ratio. o Times interest earned. How would you evaluate each company's solvency? · Compute for 2015 and 2014 the:

o Profit margin. o Asset turnover. o Return on assets. o Return on common stockholders' equity. How would you evaluate each company's profitability? · Evaluate the financial opportunity presented by the companies. If you were a creditor, which company would you be more likely to lend money to? Defend your decision. · Which company would you recommend as an investment? Discuss the items that were considered in your decision. · Research global implications for the international company selected.

How might changing environmental factors affect organizational choices? · Consider the ethical climate (internal or external) of your chosen companies. Describe the ethical issues and impact on the stakeholders.

What has been/is being done to resolve these issues? Do you agree with these methods for resolution? If not, what might you do differently?

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft® Word or Excel®.

Include the four financial statements along with your assignment.

Format your assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment.

Note: Grades are awarded based upon individual contributions to the Learning Team assignment. Each Learning Team member receives a

grade based upon his/her contributions to the team assignment. Not all students may receive the same grade for the team assignment. ******************************************

ACC 561 Week 3 Wileyplus Assignment (With Excel file)

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This Tutorial comes with Excel File to solve for any values Access the following Week 3 Assignment in WileyPLUS: Brief Exercise 13-8 Brief Exercise 13-8 (essay) Brief Exercise 13-9 (essay) Brief Exercise 13-4 Brief Exercise 13-5 Brief Exercise 13-10 Brief Exercise 13-13 the Assignment Files tab to submit your assignment.

Brief Exercise 13-8

Vertical analysis (common-size) percentages for Pharoah Company’s sales revenue, cost of goods sold, and expenses are listed here.

Vertical Analysis 2017 2016 2015 Calculate Pharoah’s net income as a percent of sales.

Brief Exercise 13-9 (Essay) Horizontal analysis (trend analysis) percentages for Phoenix Company’s sales revenue, cost of goods sold, and expenses are listed here.

Horizontal Analysis 2017 2016 2015 Sales revenue 100.0 %

96.2

Cost of goods sold 100.0 Expenses 100.0

%

104.8 %

101.0 105.6

98.0 95.4

Explain whether Phoenix’s net income increased, decreased, or remained unchanged over the 3-year period.

******************************************

ACC 561 Week 3 Wileyplus Assignment

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Please Note In the New Assignment Questions are same just numbered as 1 to 7

Access the following Week 3 Assignment in WileyPLUS: • Brief Exercise 13-8 (essay) • Brief Exercise 13-9 (essay) • Brief Exercise 13-4 • Brief Exercise 13-5 • Brief Exercise 13-10 • Brief Exercise 13-13 the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 3 Wileyplus Practice Quiz

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1. A major purpose of cost accounting is to 2. The two basic types of cost accounting systems are 3. A process cost system would most likely be used by a company that makes 4. Which of the following would be accounted for using a job order cost system?

5. The flow of costs in a job order cost system 6. The entry to record the acquisition of raw materials on account is 7. Time tickets should be approved by 8. The labor costs that have been identified as indirect labor should be charged to 9. Manufacturing overhead is applied to each job 10. A process cost accounting system is most appropriate when 11. Which of these best reflects a distinguishing factor between a job order cost system and a process cost system?

12. In process cost accounting, manufacturing costs are summarized on a 13. In a process cost system, product costs are summarized:

14. Which of the following is considered a difference between a job order cost and a process cost system?

15. The costs that are easiest to trace directly to products are 16. Other the most difficult part of computing accurate unit costs is determining the process amount of----------------------to assign to each product, service, or job.

17. The last step in activity-based costing is to 18. The first step in activity-based costing is to 19. A well-designed activity-based costing system starts with 20. An example of an activity cost pool is ******************************************

ACC 561 Week 4 Assignment Production Cost (Davis Skaros, New Syllabus)

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Week Four Purpose of Assignment The materials covered this week distinguish between the different costing methods and provides needed tools for decision making. This

case study focuses on determining equivalent units in a production business setting.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Davis Skaros has recently been promoted to production manager. He has just started to receive various managerial reports, including the production cost report you prepared. It showed his department had 2,000 equivalent units in ending inventory. His department has had a history of not keeping enough inventory on hand to meet demand. He has come to you, very angry, and wants to know why you credited him with only 2,000 units when he knows he had at least twice that many on hand.

Prepare a maximum 700-word informal memo and explain to Mr. Skaros why his production cost report showed only 2,000 equivalent units in ending inventory. Using a professional tone, explain to him clearly why your report is accurate. https://ssl.gstatic.com/ui/v1/icons/mail/images/cleardot.gif Format the assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 4 Costing Methods

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This paper is available on request only, contact us at uopashinfo@gmail.com Read the case study posted to the week four projects thread and write a paper between 1,000 and 1,700 words addressing the following questions: 1. What strategies did the management of the company use?

2. Why did the company's management think it was necessary to install an ABC system? Do you agree with their reasoning? Explain your answer.

3. Is a job order cost system or a process order cost system a viable option for the company. Why or why not?

Format your paper consistent with APA guidelines and submit your paper and plagiarism review file via the assignment files tab. ******************************************

ACC 561 Week 4 Learning Team Reflection (CVP Analysis)

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Managerial accounting is all about making informed decisions. Costvolume-profit (CVP) analysis is one of the most powerful tools available for managers to crunch numbers, gain a thorough understanding of a situation, and perform a what-if analysis.

Write a paper of no more than 750 words in which you discuss the activities and learning this week and share how CVP analysis may be helpful to an entrepreneur starting a new business. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 4 Team Assignment Cost Accounting Systems (2 PPT)

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This Tutorial contains 2 Presentation of this Assignment Consider the places of employment of the team members or businesses with which the team is familiar and the industries in which they operate.

Create a 12-slide presentation, including detailed speaker notes that act as the script of the presentation or a voiceover, of an analysis of cost accounting systems. Include the following in the presentation: Describe the purpose and elements of an effective cost accounting system.

Differentiate the 3 types of cost accounting systems (job order, process, and hybrid). Include detailed descriptions of each.

Determine when and why it is appropriate to use each type of system and include an explanation.

Recommend the best accounting system for the team members' respective places of employment or a business where they are interested in pursuing employment. Provide a rationale for the recommendations. If not enough information is available for all companies, provide suggested considerations needed to make the determination.

Format the assignment consistent with APA guidelines.

the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 4 Team Assignment CVP Discussion Paper

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Respond to the following questions in approximately 500 words.

• What are the strengths and weaknesses of the CVP model?

• How would you use CVP analysis to determine the product mix within a retail outlet?

• You can evaluate special orders with the CVP model. What are some non-financial issues that might influence accepting a special order or not?

This paper does not have to be in APA format but please double space the paper and include a title page with identifying information. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 4 WileyPLUS Assignment (With Excel File)

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This Tutorial comes with Excel File to solve for any values Complete the following Week 4 Assignment in WileyPLUS: Exercise 15-5

Exercise 16-3 Exercise 17-1 Exercise 15-5 Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are expected to total $300,000 for the year, and machine usage is estimated at 125,000 hours.

For the year, $322,000 of overhead costs are incurred and 130,000 hours are used.

Compute the manufacturing overhead rate for the year What is the amount of under- or overapplied overhead at December 31?

Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold.

Exercise 16-3 The ledger of American Company has the following work in process account.

Production records show that there were 400 units in the beginning inventory, 30% complete, 1,600 units started, and 1,700 units transferred out. The beginning work in process had materials cost of $2,040 and conversion costs of $1,550. The units in ending inventory were 40% complete. Materials are entered at the beginning of the painting process.

How many units are in process at May 31?

What is the unit materials cost for May? What is the unit conversion cost for May?

What is the total cost of units transferred out in May? What is the cost of the May 31 inventory?

Exercise 17-1 Saddle Inc. has two types of handbags: standard and custom. The controller has decided to use a plantwide overhead rate based on direct labor costs. The president has heard of activity-based costing and wants to see how the results would differ if this system were used.

Two activity cost pools were developed: machining and machine setup. Presented below is information related to the company’s operations.

Total estimated overhead costs are $240,000. Overhead cost allocated to the machining activity cost pool is $140,000, and $100,000 is allocated to the machine setup activity cost pool.

Compute the overhead rate using the traditional (plantwide) approach.

Compute the overhead rates using the activity-based costing approach.

Determine the difference in allocation between the two approaches. ******************************************

ACC 561 Week 4 WileyPLUS Assignment Paper Exercise 172

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Accessthe following Week 4 reading, linked to this assignment: • Broadening Your Perspective 17-2 Complete the Broadening Your Perspective 17-2 activity titled "Managerial Perspective" in Ch. 17 of Accounting. You need to answer all four parts and show the details for your answers for parts a, b, and c. Part D is a written response and should be approximately 100 to 150 words long.

Writea paper of no more than 750 words in which you respond to the Broadening Your Perspective 17-2 activity titled "Managerial Perspective" in Ch. 17 ofAccounting. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 4 WileyPLUS Assignment

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Please Note In the New Assignment Questions are same just named as 1 to 3

Resource: WileyPLUS

Complete the following Week 4 Assignment in WileyPLUS: • Exercise 15-5 • Exercise 16-3 • Exercise 17-1 ******************************************

ACC 561 Week 4 Wileyplus Practice Quiz

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Two Set—Scroll down to see all included Questions Under a job order cost system, costs are assigned to each job or to each batch of goods.

A process cost system is used when a company manufactures a large volume of unique products.

The two major steps in the job order cost flow are 1) accumulating the manufacturing costs incurred and 2) assigning the accumulated costs to the work done.

Process cost systems are used to apply costs to unique products produced individually.

Which of the following items is not a characteristic of a process cost system?

Fewer materials requisitions are generally required in a process cost system than in a job order cost system.

Traditional costing systems group costs according to activity cost pools.

When is it appropriate to use direct labor as a basis for assigning overhead costs to products?

How many steps are involved in activity-based costing?

An activity that adds costs to the product but does not increase its market value is a A variable cost is a cost that 1. An increase in the level of activity will have the following effects on unit costs for variable and fixed costs: 2. A fixed cost is a cost which 3. 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?

4. Contribution margin 5. The equation which reflects a CVP income statement is 6. A company sells a product which has a unit sales price of $5, unit variable cost of $3 and total fixed costs of $150,000. The number of units the company must sell to break even is 7. Under absorption costing and variable costing, how are fixed manufacturing costs treated?

8. Management may be tempted to overproduce when using

9. Only direct materials, direct labor, and variable manufacturing overhead costs are considered product costs when using ******************************************

ACC 561 Week 5 Assignment Case Study CVP, Breakeven, margin of safety (Mary Willis, New Syllabus)

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Week Five Individual Assignment

Purpose of Assignment The Case Study focuses on CVP (Cost-Volume-Profit), break-even, and margin of safety analyses which allows students to experience working through a business scenario and applying these tools in managerial decision making.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC) Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Mary Willis is the advertising manager for Bargain Shoe Store. She is currently working on a major promotional campaign.

Her ideas include the installation of a new lighting system and increased display space that will add $24,000 in fixed costs to the $270,000 in fixed costs currently spent. In addition, Mary is proposing a 5% price decrease ($40 to $38) will produce a 20% increase in sales volume (20,000 to 24,000). Variable costs will remain at $24 per pair of shoes. Management is impressed with Mary's ideas but concerned about the effects these changes will have on the break-even point and the margin of safety.

Complete the following: • Compute the current break-even point in units, and compare it to the break-even point in units if Mary's ideas are used.

• Compute the margin of safety ratio for current operations and after Mary's changes are introduced (Round to nearest full percent).

• Prepare a CVP (Cost-Volume-Profit) income statement for current operations and after Mary's changes are introduced.

Prepare a maximum 700-word informal memo to management addressing Mary's suggested changes.

• Explain whether Mary's changes should be adopted. Why or why not?

Analyze the above information (three bullet points above) and use this information to support your suggestion.

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft® Word or Excel®.

Format your assignment consistent with APA guidelines.

******************************************

ACC 561 Week 5 CVP and Break-Even Analysis

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This paper is available on request only, contact us at uopashinfo@gmail.com Review the case study posted to the week five projects thread and write a paper between 1,000 and 2,000 words addressing the following: Part 1: Respond to the questions incorporated with the case study.

Part 2: Assume your team decides to invest in the business. Prepare a variable costing income statement using monthly projections for revenue and expenses. In order to support your findings, include a list of all assumptions, issues, and factors directly or indirectly related to your conclusions. Complete sections (1) and (2) from the case study a second time using your team's projections of sales volume, variable expenses, and fixed expenses.

Format the paper consistent with APA guidelines. In addition to the paper, include an Excel spreadsheet that supports all numbers and calculations. Submit the paper, spreadsheet, and plagiarism review file via the assignment files tab. ******************************************

ACC 561 Week 5 Individual Assignment Costing Methods Paper (Exercise 19-17) (2 Papers)

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This Tutorial contains 2 different Papers Write a paper of no more than 350 words after completing Exercise 19-17 in WileyPLUS in which you respond to the following questions: • In this case, would it be better to use the variable or absorption costing method, and why?

• What are the benefits of the two methods?

• Which method would lead to the best decision when a competitor is submitting a lower bid for your product? the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 5 Individual/TeamWileyPLUS Assignment Paper Exercise 18-1

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Resource: WileyPLUS

Access the following Week 5 Assignment in WileyPLUS: • Broadening Your Perspective 18-1 Write a paper of no more than 750 words in which you respond to the Broadening Your Perspective 18-1 activity titled "Decision Making Across the Organization" in Ch. 18 of Accounting. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 5 Individual/TeamWileyPLUS Assignment Paper Exercise 18-1

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Resource: WileyPLUS Access the following Week 5 Assignment in WileyPLUS: • Broadening Your Perspective 18-1 Write a paper of no more than 750 words in which you respond to the Broadening Your Perspective 18-1 activity titled "Decision Making Across the Organization" in Ch. 18 of Accounting. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 5 Individual/TeamWileyPLUS Assignment Paper Exercise 18-1

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www.tutorialrank.com Resource: WileyPLUS Access the following Week 5 Assignment in WileyPLUS: • Broadening Your Perspective 18-1 Write a paper of no more than 750 words in which you respond to the Broadening Your Perspective 18-1 activity titled "Decision Making Across the Organization" in Ch. 18 of Accounting. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 5 Learning Team Deliverables

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ACC 561 Week 5 Learning Team Deliverables (Summary of Week 5) ******************************************

ACC 561 Week 5 Team Assignment Costing Methods Presentation (2 PPT)

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This Tutorial contains 2 Presentation of this Assignment

Develop an 8-slide presentation regarding costing methods as related to the scenario in Exercise 19-7, which all team members completed in WileyPLUS. Include the following: Recommend a costing method in choosing between variable or absorption costing. Explain the team's decision.

Explain the benefits of each of the two methods.

Determine which method would lead to the best decision when a competitor is submitting a lower bid for your product. Explain your answer.

Explain how applying costing methods can aid in better managerial decision-making.

Format your assignment consistent with APA guidelines. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 5 Team Cost Behavior Analysis (2 PPT)

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This Tutorial contains 2 PPT of this Assignment Week Five Learning Team Assignment

Purpose of Assignment The case study focuses on break-even, margin of safety, and incremental analysis and allows students to experience working through a business scenario to apply these tools in managerial decision making. Students are required to make decisions and provide solutions based on their evaluation of financial data.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Shelley Jones has just been elected as president of the Circular Club of Auburn, Kansas, and she has been asked to suggest a new fundraising activity for the club. After a considerable amount of research, Shelley proposed the Circular Club sponsor a professional rodeo. In her presentation to the club, Shelley recommends the fundraiser become an annual activity with the following goals: · Continue to grow each year · Give back to the community · Provide the club a presence in the community Shelley's goal in the first year is to have an activity that would become an "annual community event" and would break even the first year and raise $5,000 the following year. In addition, based on the experience of other communities, Shelley believed a rodeo could grow in popularity so the club would eventually earn an average of $20,000 annually.

A rodeo committee was formed. Shelley contacted the world's oldest and largest rodeo-sanctioning agency to apply to sponsor a professional rodeo. The sanctioning agency requires a rodeo to consist of the following five events: Bareback Riding, Bronco Riding, Steer Wrestling, Bull Riding, and Calf Roping, Team Roping and Women's Barrels. Prize money in the amount of $3,000 would be paid to winners in each of the seven events. Members of the rodeo committee contracted with RJ Cattle Company, a livestock contractor on the rodeo circuit, to provide bucking stock, fencing, and chutes. Realizing costs associated with the rodeo were tremendous and ticket sales would probably not be sufficient to cover the costs, the rodeo committee sent letters to local businesses soliciting contributions in exchange for various sponsorships. Exhibiting Sponsorships are $1,000 to exhibit products or services, while Major Sponsorships are $600, and Chute Sponsorships are $500 to have the name of the sponsor's business on one of the six bucking chutes. For a contribution of $100, individual sponsors will be included in a Friends of Rodeo list found in the rodeo programs.

A local youth group will be contacted to provide concessions to the public and divide the profits with the Circular Club. The Auburn Circular Club Pro Rodeo Roundup will be held on June 1, 2, and 3.

The cost of an adult ticket is set at $8 in advance or $10 at the gate; the cost of a ticket for a child 12 or younger is set at $6 in advance or $8 at the gate. Tickets are not date-specific. Rather, one ticket will admit an individual to one performance of his or her choice-- Friday, Saturday, or Sunday. The rodeo committee is able to secure a location through the county supervisors' board at a nominal cost to the Circular Club. The arrangement allows for the use of the county fair grounds and arena for a one-week period. Several months prior to the rodeo, members of the rodeo committee were notified the bleachers at the arena would hold 2,500 patrons. On Saturday night, paid attendance was 1,663, but all seats were filled due to poor gate controls. Attendance was 898 Friday and 769 on Sunday.

The following revenue and expense figures relate to the first year of the rodeo.

Receipts Contributions from sponsors Receipts from ticket sales Share of concession profits Sale of programs Total receipts

$22,000 $28,971 $1,513 $600 $53,084

Expenses Livestock contractor

$26,000

Prize money

$21,000

Contestant hospitality

$3,341*

Sponsor signs for arena

$1,900

Insurance

$1,800

Ticket printing

$1,050

Sanctioning fees

$925

Entertainment

$859

Judging fees

$750

Port-a-potties

$716

Rent

$600

Hay for horses

$538

Programs

$500

Western hats to first 500 children

$450

Hotel rooms for stock contractor

$325

Utilities

$300

Sand for arena

$251

Miscellaneous fixed costs

$105

Total expenses

$61,410

Net loss

$ (8,326)

*The club contracted with a local caterer to provide a tent and food for the contestants. The cost of the food was contingent on the number of contestants each evening. Information concerning the number of contestants and the costs incurred are as follows: Contestants

Total Cost

Friday

68

$998

Saturday

96

$1,243

Sunday

83

$1,100 $3,341

On Wednesday after the rodeo, members of the rodeo committee met to discuss and critique the rodeo. Jonathan Edmunds, CPA and President of the Circular Club, commented that the club did not lose money. Rather, Jonathan said, "The club made an investment in the rodeo." The rodeo committee has requested an analysis of the rodeos performance and evaluation of the CPA's review.

Create a minimum 10-slide presentation, including detailed speaker notes, as the committee's consultation team and respond to the following:

¡ What did Jonathan Edmunds mean when he said the club had made an investment in the rodeo? Is his comment consistent with Shelley's idea that the club should have a fundraiser that would: o Continue to get better each year. o Give back to the community. o Provide the club a presence in the community? Why or why not? ¡ Shelley, Jonathan, and Adrian Stein, the Fundraising Chairperson, are beginning to make plans for next year's rodeo. Shelley believes by negotiating with local feed stores, inn- keepers, and other business owners, costs can be cut dramatically. Jonathan agrees. After carefully analyzing costs, Jonathan has estimated the fixed expenses can be pared to approximately $51,000. In addition, Jonathan estimates variable costs are 4% of total gross receipts. After talking with business owners who attended the rodeo, Adrian is confident the funds solicited from sponsors will increase. Adrian is comfortable in budgeting revenue from sponsors at $25,600. The local youth group is unwilling to provide concessions to the audience unless they receive all of the profits. Not having the personnel to staff the concession booth, members of the Circular Club reluctantly agree to let the youth group have 100% of the profits from the concessions. In addition, members of the rodeo committee, recognizing the net income from programs was only $100, decide not to sell rodeo programs next year. o Compute the break-even point in dollars of ticket sales assuming Adrian and Jonathan are correct in their assumptions. ¡ Shelley has just learned you are calculating the break-even point in dollars of ticket sales. She is still convinced the Club can make a profit using the assumptions above (second bullet point above). o Calculate the dollars of ticket sales needed to earn a target profit of $6,000.

o Calculate the dollars of ticket sales needed to earn a target profit of $12,000. · Are the facilities at the fairgrounds adequate to handle crowds needed to generate ticket revenues calculated above (third bullet point above) to earn a $6,000 profit? Show calculations to support your answers. · A few members in the Circular Club do not want to continue with the annual rodeo. However, Shelley is insistent the Club must continue to conduct the rodeo as an annual fundraiser. Shelley argues she has spent hundreds of dollars on western boots, hats, and other items of clothing to wear to the rodeo. Are the expenses related to Shelley's purchases of rodeo clothing relevant costs? Why or why not? · Rather than hire the local catering company to cater the Contestant Hospitality Tent, members of the Circular Club are considering asking Shady's Bar-B-Q to cater the event in exchange for a $600 Major Sponsor spot. In addition, The Fun Shop, a local party supply business, will be asked to donate a tent to use for the event. The Fun Shop will also be given a $600 Major Sponsor spot. Several members of the Club are opposed to this consideration, arguing that the two Major Sponsor spots will take away from the money to be earned through other sponsors. Adrian Stein has explained to the members the Major Sponsor signs for the arena cost only $48 each. In addition, there is more than enough room to display two additional sponsor signs. What would you encourage the Club to do concerning the Contestant Hospitality Tent? Would your answer be different if the arena were limited in the number of additional signs that could be displayed? What kind of cost would you consider in this situation that would not be found on a financial statement? · Assume you are elected chair of the rodeo committee for next year.

What steps would you suggest the committee take to make the rodeo profitable?

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft速 Word or Excel速.

Format the assignment consistent with APA guidelines. ******************************************

ACC 561 Week 5 Team Cost Behavior Analysis

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www.tutorialrank.com Week Five Learning Team Assignment Purpose of Assignment The case study focuses on break-even, margin of safety, and incremental analysis and allows students to experience working through a business scenario to apply these tools in managerial decision making. Students are required to make decisions and provide solutions based on their evaluation of financial data.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC) Tutorial help on Excel速 and Word functions can be found on the Microsoft速 Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Shelley Jones has just been elected as president of the Circular Club of Auburn, Kansas, and she has been asked to suggest a

new fundraising activity for the club. After a considerable amount of research, Shelley proposed the Circular Club sponsor a professional rodeo. In her presentation to the club, Shelley recommends the fundraiser become an annual activity with the following goals: · Continue to grow each year · Give back to the community · Provide the club a presence in the community Shelley's goal in the first year is to have an activity that would become an "annual community event" and would break even the first year and raise $5,000 the following year. In addition, based on the experience of other communities, Shelley believed a rodeo could grow in popularity so the club would eventually earn an average of $20,000 annually.

A rodeo committee was formed. Shelley contacted the world's oldest and largest rodeo-sanctioning agency to apply to sponsor a professional rodeo. The sanctioning agency requires a rodeo to consist of the following five events: Bareback Riding, Bronco Riding, Steer Wrestling, Bull Riding, and Calf Roping, Team Roping and Women's Barrels. Prize money in the amount of $3,000 would be paid to winners in each of the seven events. Members of the rodeo committee contracted with RJ Cattle Company, a livestock contractor on the rodeo circuit, to provide bucking stock, fencing, and chutes. Realizing costs associated with the rodeo were tremendous and ticket sales would probably not be sufficient to cover the costs, the rodeo committee sent letters to local businesses soliciting contributions in exchange for various sponsorships. Exhibiting Sponsorships are $1,000 to exhibit products or services, while Major Sponsorships are $600, and Chute Sponsorships are $500 to have the name of the sponsor's business on one of the six bucking chutes. For a contribution of $100, individual sponsors will be included in a Friends of Rodeo list found in the rodeo programs.

A local youth group will be contacted to provide concessions to the public and divide the profits with the Circular Club. The Auburn Circular Club Pro Rodeo Roundup will be held on June 1, 2, and 3.

The cost of an adult ticket is set at $8 in advance or $10 at the gate; the cost of a ticket for a child 12 or younger is set at $6 in advance or $8 at the gate. Tickets are not date-specific. Rather, one ticket will admit an individual to one performance of his or her choice-- Friday, Saturday, or Sunday. The rodeo committee is able to secure a location through the county supervisors' board at a nominal cost to the Circular Club. The arrangement allows for the use of the county fair grounds and arena for a one-week period. Several months prior to the rodeo, members of the rodeo committee were notified the bleachers at the arena would hold 2,500 patrons. On Saturday night, paid attendance was 1,663, but all seats were filled due to poor gate controls.

Attendance was 898 Friday and 769 on Sunday.

The following revenue and expense figures relate to the first year of the rodeo.

Receipts Contributions from sponsors Receipts from ticket sales Share of concession profits Sale of programs Total receipts

$22,000 $28,971 $1,513 $600 $53,084

Expenses Livestock contractor

$26,000

Prize money

$21,000

Contestant hospitality

$3,341*

Sponsor signs for arena

$1,900

Insurance

$1,800

Ticket printing

$1,050

Sanctioning fees

$925

Entertainment

$859

Judging fees

$750

Port-a-potties

$716

Rent

$600

Hay for horses

$538

Programs

$500

Western hats to first 500 children

$450

Hotel rooms for stock contractor

$325

Utilities

$300

Sand for arena

$251

Miscellaneous fixed costs

$105

Total expenses

$61,410

Net loss

$ (8,326)

*The club contracted with a local caterer to provide a tent and food for the contestants. The cost of the food was contingent on the number of contestants each evening. Information concerning the number of contestants and the costs incurred are as follows:

Contestants

Total Cost

Friday

68

$998

Saturday

96

$1,243

Sunday

83

$1,100 $3,341

On Wednesday after the rodeo, members of the rodeo committee met to discuss and critique the rodeo. Jonathan Edmunds, CPA and President of the Circular Club, commented that the club did not lose money. Rather, Jonathan said, "The club made an investment in the rodeo." The rodeo committee has requested an analysis of the rodeos performance and evaluation of the CPA's review.

Create a minimum 10-slide presentation, including detailed speaker notes, as the committee's consultation team and respond to the following: ¡ What did Jonathan Edmunds mean when he said the club had made an investment in the rodeo? Is his comment consistent with Shelley's idea that the club should have a fundraiser that would: o Continue to get better each year. o Give back to the community. o Provide the club a presence in the community? Why or why not? ¡ Shelley, Jonathan, and Adrian Stein, the Fundraising Chairperson, are beginning to make plans for next year's rodeo. Shelley believes by negotiating with local feed stores, inn- keepers, and other business owners, costs can be cut dramatically. Jonathan agrees. After carefully analyzing costs, Jonathan has estimated the fixed expenses can be pared to approximately $51,000. In addition, Jonathan estimates variable costs are 4% of total gross receipts. After talking

with business owners who attended the rodeo, Adrian is confident the funds solicited from sponsors will increase. Adrian is comfortable in budgeting revenue from sponsors at $25,600. The local youth group is unwilling to provide concessions to the audience unless they receive all of the profits. Not having the personnel to staff the concession booth, members of the Circular Club reluctantly agree to let the youth group have 100% of the profits from the concessions. In addition, members of the rodeo committee, recognizing the net income from programs was only $100, decide not to sell rodeo programs next year. o Compute the break-even point in dollars of ticket sales assuming Adrian and Jonathan are correct in their assumptions. 路 Shelley has just learned you are calculating the break-even point in dollars of ticket sales. She is still convinced the Club can make a profit using the assumptions above (second bullet point above). o Calculate the dollars of ticket sales needed to earn a target profit of $6,000. o Calculate the dollars of ticket sales needed to earn a target profit of $12,000. 路 Are the facilities at the fairgrounds adequate to handle crowds needed to generate ticket revenues calculated above (third bullet point above) to earn a $6,000 profit? Show calculations to support your answers. 路 A few members in the Circular Club do not want to continue with the annual rodeo. However, Shelley is insistent the Club must continue to conduct the rodeo as an annual fundraiser. Shelley argues she has spent hundreds of dollars on western boots, hats, and other items of clothing to wear to the rodeo. Are the expenses related to Shelley's purchases of rodeo clothing relevant costs? Why or why not? 路 Rather than hire the local catering company to cater the Contestant Hospitality Tent, members of the Circular Club are considering asking Shady's Bar-B-Q to cater the event in exchange for a $600

Major Sponsor spot. In addition, The Fun Shop, a local party supply business, will be asked to donate a tent to use for the event. The Fun Shop will also be given a $600 Major Sponsor spot. Several members of the Club are opposed to this consideration, arguing that the two Major Sponsor spots will take away from the money to be earned through other sponsors. Adrian Stein has explained to the members the Major Sponsor signs for the arena cost only $48 each. In addition, there is more than enough room to display two additional sponsor signs. What would you encourage the Club to do concerning the Contestant Hospitality Tent? Would your answer be different if the arena were limited in the number of additional signs that could be displayed? What kind of cost would you consider in this situation that would not be found on a financial statement? · Assume you are elected chair of the rodeo committee for next year.

What steps would you suggest the committee take to make the rodeo profitable?

Show your work in Microsoft® Word or Excel®.

Complete calculations/computations using Microsoft® Word or Excel®.

Format the assignment consistent with APA guidelines. ******************************************

ACC 561 Week 5 WileyPLUS Assignment (With Excel File)

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This Tutorial comes with Excel File to solve for any values Resource: WileyPLUS Complete the following Week 5 Assignment in WileyPLUS: Brief Exercise 18-8 Brief Exercise 18-10 Brief Exercise 18-11 Expand Your Critical Thinking 18-1 Brief Exercise 19-16 Exercise 19-7 Exercise 19-17 Brief Exercise 22-1 Brief Exercise 22-4 Brief Exercise 18-8 Rice Company has a unit selling price of $630, variable costs per unit of $310, and fixed costs of $152,900.

Compute the break-even point in units using (a) the mathematical equation and (b) unit contribution margin.

Brief Exercise 18-10 For Flynn Company, variable costs are 68% of sales, and fixed costs are $188,000. Management’s net income goal is $32,000.

Compute the required sales in dollars needed to achieve management’s target net income of $32,000. (Use the contribution margin approach.)

Brief Exercise 18-11 For Astoria Company, actual sales are $11,131,000, and break-even sales are $7,946,000.

Compute the margin of safety in dollars.

Compute the margin of safety ratio.

Expand Your Critical Thinking 18-1 Creative Ideas Company has decided to introduce a new product. The new product can be manufactured by either a capital-intensive method or a labor-intensive method. The manufacturing method will not affect the quality of the product. The estimated manufacturing costs by the two methods are as follows.

Creative Ideas’ market research department has recommended an introductory unit sales price of $36. The incremental selling expenses are estimated to be $562,000 annually plus $2 for each unit sold, regardless of manufacturing method.

With the class divided into groups, answer the following. (a) Calculate the estimated break-even point in annual unit sales of the new product if Creative Ideas Company uses the: (1)

Capital-intensive manufacturing method.

(2)

Labor-intensive manufacturing method.

(b)

Determine the annual unit sales volume at which Creative Ideas Company would be indifferent between the two manufacturing methods.

Brief Exercise 19-16 The Rock Company produces basketballs. It incurred the following costs during the year.

What are the total product costs for the company under variable costing?

Exercise 19-7 PDQ Repairs has 200 auto-maintenance service outlets nationwide. It performs primarily two lines of service: oil changes and brake repair.

Oil change–related services represent 70% of its sales and provide a contribution margin ratio of 20%. Brake repair represents 30% of its sales and provides a 40% contribution margin ratio. The company’s fixed costs are $15,620,000 (that is, $78,100 per service outlet).

Exercise 19-17 (Part Level Submission) Siren Company builds custom fishing lures for sporting goods stores.

In its first year of operations, 2017, the company incurred the following costs.

Siren Company sells the fishing lures for $25.25. During 2017, the company sold 79,000 lures and produced 88,000 lures.

Brief Exercise 22-1 For the quarter ended March 31, 2017, Croix Company accumulates the following sales data for its newest guitar, The Edge: $326,100 budget; $334,100 actual.

Prepare a static budget report for the quarter.

Brief Exercise 22-4

Gundy Company expects to produce 1,281,600 units of Product XX in 2017. Monthly production is expected to range from 81,500 to 113,700 units. Budgeted variable manufacturing costs per unit are direct materials $4, direct labor $7, and overhead $11. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $3.

Prepare a flexible manufacturing budget for the relevant range value using 16,100 unit increments. ******************************************

ACC 561 Week 5 WileyPLUS Assignment

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Please Note In the New Assignment Questions are same just named as 1 to 7

Resource: WileyPLUS Complete the following Week 5 Assignment in WileyPLUS: • Brief Exercise 18-8 • Brief Exercise 18-10 • Brief Exercise 18-11 • Brief Exercise 19-16

• Exercise 19-17 • Brief Exercise 21-1 • Brief Exercise 21-4 ******************************************

ACC 561 Week 5 Wileyplus Practice Quiz

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1. Why are budgets useful in the planning process?

2. A common starting point in the budgeting process is 3. Which of the following statements about budget acceptance in an organization is true?

4. Why is budgetary control?

5. The comparison of differences between actual and planned results 6. A static budget 7. A responsibility centers generate both revenues and costs?

8. The linens department of a large department store is 9. What is a standard cost?

10. Using standard costs

11. Unfavorable materials price and quality variances are generally the responsibility of the ******************************************

ACC 561 Week 6 Assignment Managerial Analysis Assessment (Green Pasture, New Syllabus)

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Purpose of Assignment This comprehensive case requires students to evaluate a static budget and prepare flexible budgets to meet managerial needs. Students are required to calculate and analyze variances and discuss how variances are critical to managerial decision making.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC), Green Pastures Static Budget Income Statement Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Green Pastures is a 400-acre farm on the outskirts of the Kentucky Bluegrass, specializing in the boarding of broodmares and

their foals. A recent economic downturn in the thoroughbred industry has led to a decline in breeding activities, and it has made the boarding business extremely competitive. To meet the competition, Green Pastures planned in 2017 to entertain clients, advertise more extensively, and absorb expenses formerly paid by clients such as veterinary and blacksmith fees.

The budget report for 2017 is presented as an attachment. As shown, the static income statement budget for the year is based on an expected 21,900 boarding days at $25 per mare. The variable expenses per mare per day were budgeted: feed $5, veterinary fees $3, blacksmith fees $0.25, and supplies $0.55. All other budgeted expenses were either semifixed or fixed.

During the year, management decided not to replace a worker who quit in March, but it did issue a new advertising brochure and did more entertaining of clients.

Develop a minimum 700-word examination of the financial statements and include the following: • Based on the static budget report: o What was the primary cause(s) of the loss in net income? o Did management do a good, average, or poor job of controlling expenses? o Were management's decisions to stay competitive sound? • Prepare a flexible budget report for the year. • Based on the flexible budget report: o What was the primary cause(s) of the loss in net income? o Did management do a good, average, or poor job of controlling expenses?

o Were management's decisions to stay competitive sound? • What course of action do you recommend for the management of Green Pastures? ******************************************

ACC 561 Week 6 Assignment Managerial Analysis Assessment (Green Pasture, New Syllabus, 2 Papers)

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This Tutorial contains 2 Papers of this Assignment Week Six Individual Assignment

Purpose of Assignment This comprehensive case requires students to evaluate a static budget and prepare flexible budgets to meet managerial needs. Students are required to calculate and analyze variances and discuss how variances are critical to managerial decision making.

Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Committee (SEC), Green Pastures Static Budget Income Statement

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Scenario: Green Pastures is a 400-acre farm on the outskirts of the Kentucky Bluegrass, specializing in the boarding of broodmares and their foals. A recent economic downturn in the thoroughbred industry has led to a decline in breeding activities, and it has made the boarding business extremely competitive. To meet the competition, Green Pastures planned in 2017 to entertain clients, advertise more extensively, and absorb expenses formerly paid by clients such as veterinary and blacksmith fees.

The budget report for 2017 is presented as an attachment. As shown, the static income statement budget for the year is based on an expected 21,900 boarding days at $25 per mare. The variable expenses per mare per day were budgeted: feed $5, veterinary fees $3, blacksmith fees $0.25, and supplies $0.55. All other budgeted expenses were either semifixed or fixed.

During the year, management decided not to replace a worker who quit in March, but it did issue a new advertising brochure and did more entertaining of clients.

Develop a minimum 700-word examination of the financial statements and include the following: • Based on the static budget report: o What was the primary cause(s) of the loss in net income? o Did management do a good, average, or poor job of controlling expenses? o Were management's decisions to stay competitive sound?

• Prepare a flexible budget report for the year.

• Based on the flexible budget report: o What was the primary cause(s) of the loss in net income? o Did management do a good, average, or poor job of controlling expenses? o Were management's decisions to stay competitive sound? • What course of action do you recommend for the management of Green Pastures? ******************************************

ACC 561 Week 6 Budgets and Decisions making

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This paper is available on request only, contact us at uopashinfo@gmail.com

Budgets and Decisions making Instructions: The purpose of this assignment is to evaluate a static budget and prepare and evaluate a flexible budget. You are required to calculate and analyze variances and discuss how variances are critical to managerial decision making.

Resources: Excel File. Tutorial help on ExcelÂŽ can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the internet.

Instructions: 1. Download the Excel file posted to the week 6 projects thread.

2. Review the static budget.

3. Prepare a flexible budget.

4. Complete the questions tab via answering the questions incorporated therein.

Submit the completed Excel file to the assignments tab. ******************************************

ACC 561 Week 6 Learning Team Reflection (Incremental analysis)

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Incremental analysis is considered to be more economical than a comprehensive analysis, while being just as effective. Do you agree or disagree?

Explain your answer in a paper of no more than 750 words. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 6 Team Assignment Master Budgeting Question

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Respond to the following questions in approximately 500 words.

The master budget is a detailed and comprehensive analysis of an organization's long- and short-term goals.

Identify the major inputs to the master budget and the usefulness of each.

Additionally, why would a company need to create a master budget?

What are the advantages and disadvantages?

This paper does not have to be in APA format but please double space the paper and include a title page with identifying information. the Assignment Files tab to submit your assignment. ******************************************

ACC 561 Week 6 WileyPLUS Assignment (with Excel File)

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This Tutorial comes with Excel File to solve for any values Resource: WileyPLUS Complete the following Week 6 Assignment in WileyPLUS: Exercises: 21-3 Exercises: 23-1 Brief Exercise 20-3 Brief Exercise 20-4 Brief Exercise 20-8 Exercises: 20-3 Exercises: 22-1 Brief Exercise 23-3 Brief Exercise 23-4 Brief Exercise 23-6

Exercise 21-3 Thome and Crede, CPAs, are preparing their service revenue (sales) budget for the coming year (2017). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below.

Average hourly billing rates are auditing Prepare the service revenue (sales) budget for 2017 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.

Exercise 23-1 Parsons Company is planning to produce 1,100 units of product in 2017. Each unit requires 2.60 pounds of materials at $4.80 per pound and a half-hour of labor at $14.00 per hour. The overhead rate is 90% of direct labor.

Compute the budgeted amounts for 2017 for direct materials to be used, direct labor, and applied overhead.

Compute the standard cost of one unit of product.

Brief Exercise 20-3 At Bargain Electronics, it costs $32 per unit ($20 variable and $12 fixed) to make an MP3 player at full capacity that normally sells for $53. A foreign wholesaler offers to buy 4,740 units at $26 each.

Bargain Electronics will incur special shipping costs of $4 per unit.

Assuming that Bargain Electronics has excess operating capacity, indicate the net income (loss) Bargain Electronics would realize by accepting the special order Brief Exercise 20-4

Manson Industries incurs unit costs of $7 ($4 variable and $3 fixed) in making an assembly part for its finished product. A supplier offers to make 13,400 of the assembly part at $6 per unit. If the offer is accepted, Manson will save all variable costs but no fixed costs.

Prepare an analysis showing the total cost saving, if any, Manson will realize by buying the part Brief Exercise 20-8 Lisah, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $5,500 from sales $200,000, variable costs $176,000, and fixed costs $29,500. If the Big Bart line is eliminated, $20,100 of fixed costs will remain. Prepare an analysis showing whether the Big Bart line should be eliminated

******************************************

ACC 561 Week 6 WileyPLUS Assignment

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Please Note In the New Assignment Questions are same just named as 1 to 5

Resource: WileyPLUS Complete the following Week 6 Assignment in WileyPLUS: • Exercises: 20-3 • Exercises: 22-1 • Brief Exercise 23-3 • Brief Exercise 23-4 • Brief Exercise 23-6 ******************************************

ACC 561 Week 6 Wileyplus Practice Quiz

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1. A major accounting contribution to the managerial decision-making process in evaluating possible courses of action is to 2. In incremental analysis, 3. Incremental analysis is most useful 4. It costs Ross Co. $24 of variable and $10 of fixed costs to produce one bathroom scale which normally sells for $70. A foreign wholesaler offers to purchase 2,000 scales at $30 each. Ross would incur special shipping costs of $2 per scale if the order were accepted.

Ross has sufficient unused capacity to produce the 2,000 scales. If the special order is accepted, what will be the effect on net income?

5. Carter, Inc. can make 100 units of a necessary component part with the following costs:

Direct Materials $120,000 Direct Labor 20,000 Variable Overhead 60,000 Fixed Overhead 40,000 If Carter purchases the component externally, $30,000 of the fixed costs can be avoided. At what external price for the 100 units is the company indifferent between making or buying?

6. Mink Manufacturing is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $60 and Mink would sell it for $130. The cost to assemble the product is estimated at $42 per unit and the company believes the market would support a price of $170 on the assembled unit. What decision should Mink make?

7. A company decided to replace an old machine with a new machine.

Which of the following is considered a relevant cost? ******************************************