WEEK 1 DQ 2If a managerial accountant were to question the ethical behavior of a colleague, what course of action do you think the accountant should takeWEEK 1 DQ 1How has the Sarbanes-Oxley Act of 2002 affected financial reporting for publicly traded companies? Do you think that the Sarbanes-Oxley Act is effective in promoting ethical behavior for financial professionals? Why or why not?WEEK 2 DQ 1Choose a specific company within an industry that none of your other classmates have chosen. Describe how CVP Analysis could be used by this company. Provide at least two examples.WEEK 2 DQ 2Respond to Ethical Issue 21-1 found at the end of Chapter 21 in the textbook.WEEK 3 DQ 1Respond to Ethical Issue 22-1 found at the end of chapter 22 in the textbook.WEEK 3 DQ 2Describe how you could use what you have learned about budgeting in your personal life.In this Module the reading materials focus include the steps taken by businesses to achieve their planned levels of profits â a process calledprofit planning. Profit planning is accomplished by preparing numerous budgets, which, when brought together, form an integrated business plan known as amaster budget.All, Why do organizations budget? And what are some of the processes they use to create budgets?WEEK 4 DQ 1Respond to Ethical Issue 23-1 found at the end of chapter 23 in the textbook.According to the IMA Statement of Ethical Professional Practice, regarding confidentiality, Lane has the responsibility to …. refrain from using confidential information for unethical or illegal advantage. What does this mean to Lane in this situation? Can you relate this to a situation you have been faced with at work?WEEK 4 DQ 2Max Points: 5.0Choose one of the following variance types, and give an example of what it indicates about a companyâs operations:Favorable direct materials price varianceFavorable direct materials quantity varianceFavorable direct labor rate varianceFavorable direct labor efficiency varianceFavorable variable manufacturing overhead rate varianceFavorable variable manufacturing overhead efficiency varianceUnfavorable direct materials price varianceUnfavorable direct materials quantity varianceUnfavorable direct labor rate varianceUnfavorable direct labor efficiency varianceUnfavorable variable manufacturing overhead rate varianceUnfavorable variable manufacturing overhead efficiency varianceChoose a variance that has not been chosen by another one of your classmates, or provide an explanation that differs from those explained by your classmates. Participate in follow-up discussion by challenging your classmatesâ posts, expanding upon your classmatesâ posts, and/or providing additional alternatives with regard to reasons for the variances.WEEK 5 DQ 1Respond to Ethical Issue 25-1 found at the end of chapter 25 in the textbook.Do you think that Tan’s belief that outsourcing would simplify her job is additional support for outsourcing? How should she utilize the additional time? etc. does this matter?WEEK 5 DQ 2What types of business decisions can the managerial accountant support? Give an example of one decision that is supported by managerial accounting and the type of report that might be generated to help make the decision identified.WEEK 6 DQ 1Respond to Ethical Issue 26-1 found at the end of chapter 26 in the textbook.Part of management accountability is managersâ responsibility to the various stakeholders of the company, including customers, creditors, owners, employees, suppliers, governments, and the communityâall parties who have an interest in what the company does, and how it is done.All, What are the fundamental ethical issues of this example?WEEK 6 DQ 2Choose a well-known publicly traded company that none of your other classmates have chosen, and describe the operating segments reported (this information will be in the notes to the financial statements). Include a link to this financial statement in your post. Choose one segment and discuss what items might be common costs for that segment. Participate in follow-up discussion by choosing two or more of your classmatesâ posts and adding your ideas about segment margin and common costs for the company selected. How might the segment try to reduce costs?WEEK 7 DQ 1For the company you chose in Module 6, return to the financial statement and perform a horizontal analysis on the income statement. What is the trend in the companyâs net income? What changes are primarily driving this trend? Include a link to this financial statement in your post. Participate in the follow-up discussion by challenging or adding to your classmatesâ answers to the above questionsWEEK 7 DQ 2Respond to Ethical Issue D-1 found at the end of Appendix D in your textbook.What effect will reclassifying the long-term investments as short-term on the company financials? Which ratio will this effect?WEEK 8 DQ 1Identify a publicly traded company, and explain three ways that this company might use managerial accounting information. Do not select a company that one of your classmates has already posted on. Participate in discussion by suggesting additional ways that companies could use managerial accounting information.WEEK 8 DQ 2Of all of the managerial accounting topics that you learned about this semester, which one(s) do you think you might use in your career? Why is this important, and how do you see using this managerial accounting information? Participate in discussion by providing suggestions for other uses of managerial accounting informatioASSIGNMENTS.8181819915771px;”=””>Details:Please complete the following exercises and/or problems from the textbook:E18-14E18-22E18-23CP18-42Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.Save your workbook using the filename LastnameFirstinitial.ACC350.T# where the # represents the topic number. For example, John Doe would submit assignment #5 using the following name: DoeJ.ACC350.T5.You are not required to submit this assignment to Turnitin.E18-22 Preparing a schedule of cost of goods manufacturedKnight Corp., a lamp manufacturer, provided the following information for theyear ended December 31, 2014.Inventories: Beginning EndingRaw Materials $ 56,000 $ 23,000Work-in-Process 103,000 63,000Finished Goods 41,000 48,000Other information:Depreciation, plant building and equipment $ 16,000Raw materials purchases 159,000Insurance on plant 22,000Sales salaries 46,000Repairs and maintenanceâplant 8,000Indirect labor 32,000Direct labor 122,000Administrative expenses 59,000Requirements1. Use the information to prepare a schedule of cost of goods manufactured.2. What is the unit product cost if Knight manufactured 2,160 lamps for the year?E18-23 Computing cost of goods manufactured and cost of goods soldUse the following information for a manufacturer to compute cost of goodsmanufactured and cost of goods sold:Inventories: Beginning EndingRaw Materials $ 29,000 $ 32,000Work-in-Process 44,000 37,000Finished Goods 19,000 24,000Other information:Purchases of materials $ 77,000Direct labor 87,000Manufacturing overhead 45,000Problem P18-42 is the first problem in a sequence of problems for Davis Consulting, Inc.This company was also used for the Continuing Problems in the financial accountingchapters as the business evolved from a service company to a merchandising company.However, it is not necessary to complete those problems prior to completing P18-42.Davis Consulting, Inc. is going to manufacture billing software. During its firstmonth of manufacturing, Davis incurred the following manufacturing costs:Inventories: Beginning EndingRaw Materials $ 10,800 $ 10,300Work-in-Process 0 21,000Finished Goods 0 31,500Other information:Raw materials purchases $ 19,000Plant janitorial services 700Sales salaries expense 5,000Delivery expense 1,700Sales revenue 750,000Utilities for plant 10,000Rent on plant 13,000Customer service hotline costs 18,000Direct labor 190,000Prepare a schedule of cost of goods manufactured for Davis for the month endedJanuary 31, 2016..8181819915771px;”=””>Details:Please complete the following exercises and/or problems from the textbook:E21-30E21-31E21-37CP21-63Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.Save your workbook using the filename LastnameFirstinitial.ACC350.T# where the # represents the topic number. For example, John Doe would submit assignment #5 using the following name: DoeJ.ACC350.T5.You are not required to submit this assignment to Turnitin.E21-30 Determing mixed costsâthe high-low methodThe manager of Able Car Inspection reviewed the monthly operating costs for the pastyear. The costs ranged from $4,000 for 1,000 inspections to $3,600 for 600 inspections.Requirements1. Calculate the variable cost per inspection.2. Calculate the total fixed costs.3. Write the equation and calculate the operating costs for 800 inspections.4. Draw a graph illustrating the total cost under this plan. Label the axes, andshow the costs at 600, 800, and 1,000 inspections.Learning Objective 2 E21-31 Calculating contribution margin ratio, preparing contribution margin income statements2. $245,000 sales level, VC $73,500For its top managers, Worldwide Travel formats its income statement as follows:WORLDWIDE TRAVELContribution Margin Income StatementThree Months Ended March 31, 2014Sales Revenue $ 317,500Variable Costs $95,250Contribution Margin $222,250Fixed Costs $175,000Operating Income $ 47,250Worldwideâs relevant range is between sales of $245,000 and $364,000.Requirements1. Calculate the contribution margin ratio.2. Prepare two contribution margin income statements: one at the $245,000 salesE21-37 Using sensitivity analysisDependable Drivers Driving School charges $250 per student to prepare and administerwritten and driving tests. Variable costs of $100 per student include trainersâwages, study materials, and gasoline. Annual fixed costs of $75,000 include thetraining facility and fleet of cars.Requirements1. For each of the following independent situations, calculate the contributionmargin per unit and the breakeven point in units by first referring to theoriginal data provided:a. Breakeven point with no change in information.b. Decrease sales price to $220 per student.c. Decrease variable costs to $50 per student.d. Decrease fixed costs to $60,000.2. Compare the impact of changes in the sales price, variable costs, and fixed costson the contribution margin per unit and the breakeven point in units.P21-63 Computing breakeven sales and sales needed to earn a target profit;performing sensitivity analysisThis problem continues the Davis Consulting, Inc. situation from Problem P19-40of Chapter 19. Davis Consulting provides consulting service at an average price of$175 per hour and incurs variable cost of $100 per hour. Assume average fixed costsare $5,250 a month.Requirements1. What is the number of hours that must be billed to reach the breakeven point?2. If Davis desires to make a profit of $3,000, how many consulting hours must becompleted?3. Davis thinks it can reduce fixed cost to $3,990 per month, but variable cost willincrease to $105 per hour. What is the new breakeven point in hours?.8181819915771px;”=””>Please complete the following exercises and/or problems from the textbook:E22-24E22-27CP22-56E22A-32Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.Save your workbook using the filename LastnameFirstinitial.ACC350.T# where the # represents the topic number. For example, John Doe would submit assignment #5 using the following name: DoeJ.ACC350.T5.You are not required to submit this assignment to Turnitin.E22A-32 Preparing an operating budgetTremont, Inc. sells tire rims. Its sales budget for the nine months ended September30, 2014, follows:Quarter Ended Nine-MonthTotalMarch 31 June 30 Sept 30 Nine Mth TotalCash sales, 20% $24,000 $34,000 $29,000 $87,000Credit sales, 80% 96,000 136,000 116,000 348,000Total sales $120,000 $170,000 $145,000 $435,000In the past, cost of goods sold has been 40% of total sales. The director of marketingand the financial vice president agree that each quarterâs ending inventoryshould not be below $20,000 plus 10% of cost of goods sold for the followingquarter. The marketing director expects sales of $220,000 during the fourth quarter.The January 1 inventory was $32,000. Prepare an inventory, purchases, and cost ofgoods sold budget for each of the first three quarters of the year. Compute cost ofE22-24 Preparing an operating budgetSales BudgetDunbar Company manufactures drinking glasses. One unit is a package of 8 glasses,which sells for $20. Dunbar projects sales for April will be 3,000 packages, withsales increasing by 100 packages per month for May, June, and July. On April 1,Dunbar has 250 packages on hand but desires to maintain an ending inventory of10% of the next monthâs sales. Prepare a sales budget and a production budget forDunbar for April, May, and June.May pkg. produced 3,110E22-27 Preparing a financial budgetCramer Company projects the following sales for the first three months of theyear: $12,500 in January; $13,240 in February; and $14,600 in March. Thecompany expects 70% of the sales to be cash and the remainder on account. Saleson account are collected 50% in the month of the sale and 50% in the followingmonth. The Accounts Receivable account has a zero balance on January 1. Roundto the nearest dollar.Requirements1. Prepare a schedule of cash receipts for Cramer for January, February, andMarch. What is the balance in Accounts Receivable on March 31?2. Prepare a revised schedule of cash receipts if receipts from sales on accountare 60% in the month of the sale, 30% in the month following the sale, and10% in the second month following the sale. What is the balance in AccountsReceivable on March 31?P22-56 Preparing a financial budgetThis problem continues the Davis Consulting, Inc. situation from Problem P21-63 ofChapter 21. Assume Davis Consulting began January with $29,000 cash. Managementforecasts that cash receipts from credit customers will be $49,000 in January and$51,500 in February. Projected cash payments include equipment purchases ($17,000in January and $40,000 in February) and selling and administrative expenses ($6,000each month).Davisâs bank requires a $20,000 minimum balance in the firmâs checking account.At the end of any month when the account balance falls below $20,000,the bank automatically extends credit to the firm in multiples of $5,000. Davisborrows as little as possible and pays back loans each month in $1,000 increments,plus 5% interest on the entire unpaid principal. The first payment occurs onemonth after the loan.Requirements1. Prepare Davis Consultingâs cash budget for January and February 2013.2. How much cash will Davis borrow in February if cash receipts from customersthat month total $21,500 instead of $51,500?Details:Please complete the following exercises and/or problems from the textbook:E23-16E23-19E23-20CP23-36Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.Save your workbook using the filename LastnameFirstinitial.ACC350.T# where the # represents the topic number. For example, John Doe would submit assignment #5 using the following name: DoeJ.ACC350.T5.You are not required to submit this assignment to Turnitin.Note: Exercise E23-19 should be completed before attempting Exercise E23-20.E23-20 Computing overhead variancesReview the data from Great Fender given in Exercise E23-19. Consider thefollowing additional information:Static budget variable overhead $ 5,500Static budget fixed overhead $ 22,000Static budget direct labor hours 550 hoursStatic budget number of units 22,000 unitsGreat Fender allocates manufacturing overhead to production based on standarddirect labor hours. Great Fender reported the following actual results for 2014:actual variable overhead, $4,950; actual fixed overhead, $23,000.Requirements1. Compute the overhead variances for the year: variable overhead cost variance,variable overhead efficiency variance, fixed overhead cost variance, and fixedoverhead volume variance.E23-19 Calculating materials and labor variancesGreat Fender, which uses a standard cost accounting system, manufactured 20,000boat fenders during 2014, using 144,000 square feet of extruded vinyl purchased at$1.05 per square foot. Production required 420 direct labor hours that cost $13.50per hour. The direct materials standard was 7 square feet of vinyl per fender, at astandard cost of $1.10 per square foot. The labor standard was 0.025 direct laborhour per fender, at a standard cost of $12.50 per hour.Compute the cost and efficiency variances for direct materials and direct labor.Does the pattern of variances suggest Great Fender’s managers have been makingtrade-offs? Explain.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>.8181819915771px;”=””>Details:Please complete the following exercises and/or problems from the textbook:E26-19E26-20E26-21E26-24E26-25CP26-38Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.Save your workbook using the filename LastnameFirstinitial.ACC350.T# where the # represents the topic number. For example, John Doe would submit assignment #5 using the following name: DoeJ.ACC350.T5.You are not required to submit this assignment to Turnitin.E26-19 Using payback to make capital investment decisionsRobinson Hardware is adding a new product line that will require an investmentof $1,454,000. Managers estimate that this investment will have a 10-year life andgenerate net cash inflows of $300,000 the first year, $270,000 the second year,and $260,000 each year thereafter for eight years. Compute the payback period.Note: Exercise S26-19 must be completed before attempting Exercise S26-20.E26-20 Using ARR to make capital investment decisionsRefer to the Robinson Hardware information in Exercise E26-19. Assume theproject has no residual value. Compute the ARR for the investment. Round totwo places.Janice wants to take the next five years off work to travel around the world. Sheestimates her annual cash needs at $28,000 (if she needs more, she will work oddjobs). Janice believes she can invest her savings at 8% until she depletes her funds.Requirements1. How much money does Janice need now to fund her travels?2. After speaking with a number of banks, Janice learns she will only be able toinvest her funds at 4%. How much does she need now to fund her travels?E26-24 Using NPV and profitability index to make capital investment decisionsUse the NPV method to determine whether Kyler Products should invest in thefollowing projects:???????? Project A: Costs $260,000 and offers seven annual net cash inflows of $57,000.Kyler Products requires an annual return of 16% on investments of this nature.???????? Project B: Costs $375,000 and offers 10 annual net cash inflows of $75,000.Kyler Products demands an annual return of 14% on investments of this nature.Requirements1. What is the NPV of each project? Assume neither project has a residual value.Round to two decimal places.2. What is the maximum acceptable price to pay for each project?3. What is the profitability index of each project? Round to two decimal places.Note: Exercise E26-24 must be completed before attempting Exercise E26-25.E26-25 Using IRR to make capital investment decisionsRefer to the data regarding Kyler Products in Exercise E26-24. Compute the IRRof each project and use this information to identify the better investment.Details:Complete exercises ED-15, ED-16, ED-20, ED-21, and Comprehensive Problem Dfrom the textbook.Prepare your answers in an Excel workbook, using one worksheet per exercise or problem.Save your workbook using the filename LastnameFirstinitial.ACC350.T# where the # represents the topic number. For example, John Doe would submit assignment #5 using the following name: DoeJ.ACC350.T5.You are not required to submit this assignment to Turnitin.ED-15 Performing horizontal analysisâincome statement1. Net Income 42.3%MARINER DESIGNS, INC.Comparative Income StatementYears Ended December 31, 2015 and 201420152014Net Sales Revenue431,000372,350Expenses:Cost of Goods Sold200,000187,550Selling & Admin Expenses99,00091,050Other Expenses8,3506,850Total Expenses307,350285,450Net Income123,65086,900Requirements1. Prepare a horizontal analysis of the comparative income statement of MarinerDesigns, Inc. Round percentage changes to one decimal place.ED-16 Computing trend analysis1. 2015 Net Income 136%Magic Oaks Realty’s net revenue and net income for the following five-yearperiod, using 2012 as the base year, follow:2016 2015 2014 2013 2,012Net Revenue 1,310,000 1,187,000 1,110,000 1,011,000 1,045,000Net Income 122,000 113,000 84,000 72,000 83,000Requirements1. Compute trend analysis for net revenue and net income. Round to the nearest full percent.2. Which grew faster during the period, net revenue or net income?ED-20 Computing key ratiosThe Financial statements of Victor’s Natural Foods include the following item:e. 84 daysCurrent Year Preceding YearBalance sheet:Cash 15,000 20,000Short-term Investments 11,000 27,000Net Accounts Receivables 54,000 73,000Merchandise Inventory 77,000 69,000Prepaid Expenses 15,000 9,000Total Current Assets 172,000 198,000Total Current Liabilities 133,000 93,000Income Statement:Net Credit Sales 462,000Cost of Goods Sold 315,000ED-21 Analyzing the ability to pay liabilitiesd. 2015 0.51Large Land Photo Shop has asked you to determine whether the companyâs abilityto pay current liabilities and total liabilities improved or deteriorated during 2015.Analyzing a company for its investment potentialRequirements1. Analyze the companyâs financial summary for the fiscal years 2014â2018 todecide whether to invest in the common stock of WRS. Include the followingsections in your analysis, and fully explain your final decision.1. Trend analysis for net sales and net income (use 2014 as the base year).2. Profitability analysis.3. Evaluation of the ability to sell merchandise inventory (WRS uses the LIFOmethod).4. Evaluation of the ability to pay debts.Details:Find an article that is related to using managerial accounting information. Write a 750 â 1,000 word paper that provides a summary and a reaction to the article. The summary should include specific references to the article, and the reaction should include information regarding how you would use this managerial accounting information in practice. The reaction section should be supported by at least two other outside sources. Submit your assignment by the end of the topic.Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is/is not required.This assignment uses a grading rubric. Instructors will be using the rubric to grade the assignment; therefore, students should review the rubric prior to beginning the assignment to become familiar with the assignment criteria and expectations for successful completion of the assignment.You are required to submit this assignment to Turnitin. Please refer to the directions in the Student Success Center.
