Question 1
25 multiple choice Accounting questions. 60 min limit! I will need to send them all at once and will need them answered all at once before the 60 min time limit has ended.,I really do need the help so I hope you are willing to help me with this. I have incuded $20 and that is all I can afford for this.,Unfortunately I cannot send you the 25 multiple choice questions without the time limit starting since it is a timed test for me. I can assure you they will be similar to the first set I sent you previously on the other thread. Will the name of the book I am using help you?,These are the questions I asked before on the other thread but the new set will be different. Question: Managerial accounting applies to each of the following types of businesses except A Service firms B Merchandising firms C Manufacturing firms D Managerial accounting applies to all types of firms Question: Manufacturing costs that cannot be classified as either direct materials or direct labor are known as A Period costs B Nonmanufacturing costs C Selling and administrative expenses D Manufacturing overhead Question: The increased use of automation and less use of the work force in companies has caused a trend towards an increase in A Both variable and fixed costs B Fixed costs and a decrease in variable costs C Variable costs and a decrease in fixed costs D Variable costs and no change in fixed costs Question: Isakson Company has a contribution margin per unit of $15 and a contribution margin ratio of 60%. How much is the selling price of each unit? A $25.00 B $37.50 C $9.00 D Cannot be determined without more information Question: A process cost system would most likely be used by a company that makes A Motion pictures B Repairs to automobiles C Breakfast cereal D College graduation announcements Question: A company desires to sell a sufficient quantity of products to earn a profit of $180,000. If the unit sales price is $20, unit variable cost is $12, and total fixed costs are $360,000, how many units must be sold to earn net income of $180,000? A 101,250 units B 67,500 units C 54,000 units D 40,500 units Question: An example of poor internal control is A The accountant should not have physical custody of the asset nor access to it B The custodian of an asset should not maintain or have access to the accounting records C One person should be responsible for handling related transactions D A salesperson makes the sale and a different person ships the goods Question: An important feature of a job order cost system is that each job A Must be similar to previous jobs completed B Has its own distinguishing characteristics C Must be completed before a new job is accepted D Consists of one unit of output Question: Which one of the following costs would not be inventoriable? A Period costs B Factory insurance costs C Indirect materials D Indirect labor costs Question: Internal reports must be communicated A Daily B Monthly C Annually D As needed Question: Hess Inc. sells a product with a contribution margin of $12 per unit, fixed costs of $74,400, and sales for the current year of $100,000. How much is Hess?s breakeven point? A 4,600 units B $25,600 C 6,200 units D 2,133 units Question: Which of the following are period costs? A Raw materials B Direct materials and direct labor C Direct labor and manufacturing overhead D Selling expenses Question: If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's books for $482, the appropriate treatment on the bank reconciliation would be to A Add $54 to the bank's balance B Add $54 to the book's balance C Deduct $54 from the bank's balance D Deduct $428 from the book's balance Question: In applying the high-low method, which months are relevant? Month Miles Total Cost January 80,000 $96,000 February 50,000 80,000 March 70,000 94,000 April 90,000 130,000 A January and February B January and April C February and April D February and March Question: How much sales are required to earn a target net income of $128,000 if total fixed costs are $160,000 and the contribution margin ratio is 40%? A $400,000 B $648,000 C $720,000 D $320,000 Question: Simpson Company applies overhead on the basis of 200% of direct labor cost. Job No. 305 is charged with $90,000 of direct materials costs and $120,000 of manufacturing overhead. The total manufacturing costs for Job No. 305 is A $210,000 B $270,000 C $300,000 D $330,000 Question: In preparing its bank reconciliation for the month of April 2010, Gantner Inc. has available the following information. Balance per bank statement, 4/30/10 $78,280 NSF check returned with 4/30/10 bank statement 900 Deposits in transit, 4/30/10 10,000 Outstanding checks, 4/30/10 10,400 Bank service charges for April 40 What should be the adjusted cash balance at April 30, 2010? A $78,740 B $77,880 C $76,980 D $76,940 Question: The entry to record the acquisition of raw materials on account is A Work-in-Process Inventory Accounts Payable B Manufacturing Overhead Raw Materials Inventory Accounts Payable C Accounts Payable Raw Materials Inventory D Raw Materials Inventory Accounts Payable Question: Molina Company has beginning and ending work in process inventories of $130,000 and $145,000, respectively. If total manufacturing costs are $620,000, what is the total cost of goods manufactured? A $750,000 B $765,000 C $605,000 D $635,000 Question: Hayward Manufacturing Company developed the following data Beginning work-in-process inventory $270,000 Direct materials used 210,000 Actual overhead 330,000 Overhead applied 240,000 Cost of goods manufactured 360,000 Ending work in process 450,000 Hayward Manufacturing Company's total manufacturing costs for the period is A $570,000 B $540,000 C $390,000 D Cannot be determined from the data provided Question: Simon Company's high- and low-level of activity last year was 60,000 units of product produced in May and 20,000 units produced in November. Machine maintenance costs were $78,000 in May and $30,000 in November. Using the high-low method, determine an estimate of total maintenance cost for a month in which production is expected to be 45,000 units. A $67,500 B $72,000 C $58,500 D $60,000 Question: In preparing a bank reconciliation, outstanding checks are A Added to the balance per bank B Deducted from the balance per books C Added to the balance per books D Deducted from the balance per bank Question: The following information is available for completed Job No. 402: Direct materials, $80,000; direct labor, $120,000; manufacturing overhead applied, $60,000; units produced, 5,000 units; units sold, 4,000 units. The cost of the finished goods on hand from this job is A $40,000 B $260,000 C $52,000 D $208,000 Question: Managerial accounting information A Pertains to the entity as a whole and is highly aggregated B Pertains to subunits of the entity and may be very detailed C Is prepared only once a year D Is constrained by the requirements of generally accepted accounting principles Question: Process costing is used when A The production process is continuous B Production is aimed at filling a specific customer order C Dissimilar products are involved D Costs are to be assigned to specific jobs
Question 2
You asked: "13-70 Inventory Measures, Production Scheduling, and Evaluating Divisional Performance The Calais Company stresses competition between the heads of its various divisions, and it rewards stellar performance with year-end bonuses that vary between 5% and 10% of division net operating income (before considering the bonus or income taxes). The divisional managers have great discretion in setting production schedules. The Brittany division produces and sells a product for which there is a long-standing demand but which can have marked seasonal and year-to-year fluctuations. On November 30, 20X4, Veronique Giraud, the Brittany division manager, is preparing a production schedule for December. The following data are available for January 1 through November 30 (? is the symbol for euro, the currency for most countries of the European Union): Beginning inventory, January 1, in units 10,000 Sales price, per unit ?400 Total fixed costs incurred for manufacturing ?9,350,000 Total fixed costs: other (not inventorial) ?9,350,000 Total variable costs for manufacturing ?18,150,000 Total other variable costs (fluctuate with units sold) ?4,000,000 Units produced 110,000 Units sold 100,000 Variances None Production in October and November was 10,000 units each month. Practical capacity is 12,000 units per month. Maximum available storage space for inventory is 25,000 units. The sales outlook for December through February is 6,000 units monthly. To retain a core of key employees, monthly production cannot be scheduled at less than 4,000 units without special permission from the president. Inventory is never to be less than 10,000 units. The denominator used for applying fixed factory overhead is regarded as 120,000 units annually. The company uses a standard absorption-costing system. All variances are disposed of at year-end as an adjustment to standard cost of goods sold. 1. Given the restrictions as stated, and assuming that Giraud wants to maximize the company?s net income for 20X4, a. How many units should be scheduled for production in December? b. What net operating income will be reported in 20X4 as a whole, assuming that the implied cost-behavior patterns will continue in December as they did throughout the year to date? Show your computations. c. If December production is scheduled at 4,000 units, what would reported net income be? 2. Assume that standard variable costing is used rather than standard absorption costing. a. What would net income for 20X4 be, assuming that the December production schedule is the one in part a of number 1? b. Assuming that December production was 4,000 units? c. Reconcile the net incomes in this requirement with those in number 1. 3. From the viewpoint of the long-run interests of the company as a whole, what production schedule should the division manager set? Explain fully. Include in your explanation a comparison of the motivating influence of absorption and variable costing in this situation. 4. Assume standard absorption costing. Giraud wants to maximize her after-income-tax performance over the long run. Given the data at the beginning of the problem, assume that income tax rates will be halved in 20X5. Assume also that year-end write-offs of variances are acceptable for income tax purposes. How many units should be scheduled for production in December? Why?,Can you provide a response within three hours. I need help ASAP as I have already lost 10% of my grade due to it being late. Your immediate assistance would be greatly appreciated. The assignment was due yesterday. I worked on it for quite some time and cant get it.
Question 3
You are to develop the fundamentals of strategic plans for the Ford Motor Company and the Honda Motor Corporation, two giants of the automobile industry. You are to develop SWOT analyses and propose strategies for the two multinational enterprises. In doing so, it will be necessary to research, analyze, and compare both firms to better understand their current position and future plans to increase competitive advantage. Common problems facing each auto giant today are the current economy; the competition of the other auto firms; and the demand for a lower cost, more ecologically friendly, alternative fuel vehicle. Your research should include the following issues for both firms: * legal, social, and economic environments * management structure * operational and financial issues * impact of potential change factors * an analysis of strategic intent * future performance projections for at least five years * social and external challenges * current manufacturing facilities and distribution systems * market demand and demographics * alternative fuels and propulsion systems Your document must evaluate, compare and contrast Ford?s and Honda?s current position on these issues, then respond to the following: 1. Take the perspective of Ford?s Director of Strategic Planning to develop a full SWOT analysis of Ford, identifying and explaining at least five factors for each category (strengths, weaknesses, opportunities and threats) and propose a complete strategy (implementation, ramification and evaluation) which addresses one of Ford?s weaknesses and what you would do about it. 2. Take the perspective of Honda?s Director of Strategic Planning to develop a full SWOT analysis of Honda, identifying and explaining at least five factors for each category (strengths, weaknesses, opportunities and threats) and propose a complete strategy (implementation, ramification and evaluation) which addresses one of Honda?s weaknesses and what you would do about it. 3. If you were Honda, propose a complete strategy (implementation, ramification and evaluation) explaining what would you do about the alternative fuel vehicle issue? ? Do not propose an alternative fuel vehicle strategy for response to questions 1 or 2. Deliverable Length: There is no set deliverable length for this assignment. As a graduate business student, you are required to provide a well-researched and analyzed comprehensive response to every assignment question. Brief, vague, generic, or non-definitive responses will not earn good grades. All individual project assignments require a minimum of three (3) scholarly sources. You are welcome and encouraged to use the David text book and the course materials that came for this course; however, make sure to use a minimum of at least three (3) scholarly sources as well. Your report MUST include a reference list. All research should be cited in the body of the paper. Reports without citations may not earn any higher grade than a ?C? letter grade. Your report should contain an abstract, a short introduction, and conclusion in addition to the body of the paper. Please note that if you have a source in your reference section, you need to cite it in the body of the paper per APA guidelines and vice-versa. Please submit your assignment as a Word document in APA format. Objective: The Objective of the Unit 5 IP Assignment will involve the following the Course Outcomes and Grading Criteria with their respective percentages for the Grading Rubric: * Analyze the relationships between a firm and the political and economic forces within its community. (60%) * Apply critical thinking skills to analyze business situations. (30%) * Use effective communication techniques. (10%) # Objective: Research and discuss some of the changes occurring in the way that organizations structure themselves and their work. # Analyze the relationships between a firm and the political and economic forces within its community. # Apply critical thinking skills to analyze business situations. # Use effective communication techniques. The body of the paper should be at least 5 pages in length with academic sources.
Question 4
Blocher, Stout, Cokins and Chen Cases and Readings for Cost Management. 20-4 Component Technologies, Inc.: Adding FlexConnex Capacity In 2002, Component Technologies, Inc. (CTI)I. manufactured components, such as interconnect components, electronic connectors, fiber-optic connectors, flexible interconnects, coaxial cable, cable assemblies, and interconnect systems, used in computers and other electronic equipment. CTI's global marketing strategy produced significant growth; CTI was now one of three major suppliers in its market segments. Major customers included other global companies, such as illM, HP, Hitachi, and Siemens. These companies, in turn, manufactured and marketed their products worldwide. FlexConnex, one of CTI's largest selling products, was very profitable (see Exhibit 1). The Santa Clara, California plant that manufactured the FlexConnex component was projected to reach its full capacity of 75 million units in 2003. With sufficient capacity to meet demand, CTI expected its sales of FlexConnex could continue to increase 10 percent per year as applications of computer technology extended into industrial products and consumer products such as automobiles and appliances. PLANNING MEETING At a meeting of his staff, Tom Richards, director of manufacturing planning, stated that they needed to plan to bring additional capacity for FlexConnex online in about two years. He suggested that they begin by proposing possible alternatives. The staff quickly identified three promising alternatives: 1. The Santa Clara plant had been designed for future expansion. Additional space was available at the site, and new production capacity could be easily integrated into the existing production processes as long as compatible manufacturing technologies were employed. . 2. CTI owned a plant in Waltham, Massachusetts that manufactured a product line that was being phased out. Some existing equipment in the Waltham plant was compatible with the Santa Clara plant's manufacturing technology and could be converted to the production of FlexConnex. Half of the Waltham plant would be available in 2003, and the remainder in 2005. 3. CTI could build a greenfield plant in Ireland, close to its European customers. To attract such industries, the Irish government would make a site available at low cost. A new technology currently being Beta-tested3 by an equipment manufacturer could be used to equip this plant. 2. Torn believed that these three were promising proposals. To ensure CT could bring additional, profitable, FlexConnex capacity online in two years, Tom felt that they should begin developing plans for these alternatives. Nonetheless, he wanted the staff to keep an open mind to additional alternatives even as they evaluated these three. As the discussion started to wind down, Gracie Stanton, an engineer, said that she had a suggestion. Gracie: Before we spend our time developing these three alternatives in detail, I'd like to get a rough feel for the potential profitability of each alternative. We shouldn?t waste our time developing detailed plans for an alternative if there is no chance it will ever show a positive NPV. Source: Issues in Accounting Education, by Julie H. Hertenstein, May 2000, Vol. 15 Issue 2, p. 257-261 This case is based on decisions faced by an actual company. Component Technologies, Inc. is a disguised name. Other facts have been changed for instructional purposes. The term "greenfield plant" is commonly used to refer to a brand new plant built entirely from scratch, as contrasted with the expansion, conversion, refurbishment, or renovation of an existing plant. A "Beta-test site" refers to equipment being tested using an actual workload at a customer site. Beta-test is often the final testing phase before the equipment is released as commercially available to customers. A customer who consents to be a Beta-test site agrees not only to use equipment that is not fully tested (thus being, in the American vernacular, a "guinea pig"), but also to provide the vendor detailed feedback on operations and problems encountered. In return, the equipment manufacturer often provides incentives such as financial discounts, extra on-site vendor personnel, etc. Tom: Good point, Gracie. Let's break up into three groups, and do back-of-the-envelope calculations based on what we currently know about each alternative. Gracie, would you head up the Santa Clara group, since you were part of the engineering team for that plant? Edward Lodge, how about Waltham? Ian Townsley, could you and your folks take a look at Ireland? To start, what are the facts and assumptions about each facility? Gracie: Well, there's enough space at the Santa Clara site to produce an additional 30 million units annually. I expect it would cost about $23 million to expand this plant, and bring its total capacity to 105 million units. Of the $23 million, we would spend $5 million to expand the building, and $18 million for additional equipment compatible with Santa Clara's existing manufacturing process. All $23 million would probably be spent in 2003, and the plant would be ready for production in 2004. I assume that the selling price per unit will remain at its current level; further, since the same manufacturing technology will continue to be used, the variable manufacturing cost will remain the same as we show on the 2002 Santa Clara Cost Analysis Sheet [Exhibit 1]. Expanding the existing plant would allow some fixed manufacturing costs, like the plant manager's salary, to be shared with the existing facility, so I estimate that the additional fixed manufacturing costs, excluding depreciation, will be $2.1 million annually beginning in 2004. In 2006, these fixed costs will rise to $2.4 million and remain at that level for the foreseeable future. Edward: Well, the Waltham plant is smaller than the space available in Santa Clara, so I think its capacity will be about 25 million units. It will require renovations to adapt the plant to manufacture FlexConnex, say, about $2 million, and approximately $12 million for equipment. Half of this would be spent in 2003, and half in 2005. Initial production would begin in 2004; half of the 25-million-unit capacity should be available in 2004; two-thirds in 2005; the remainder in 2006. Since the Waltham plant will use the same technology as Santa Clara, we can assume that the variable manufacturing costs will be the same as Santa Clara's. Selling prices will also be the same. However, since Waltham will be a stand-alone faculty, its fixed manufacturing costs, excluding depreciation, would be somewhat higher: $2.4 million annually beginning in 2004. In 2006, however, fixed costs will increase to $2.6 million annually, where I expect to remain for the foreseeable future. Ian: I just visited the Beta-test site for the manufacturing equipment using the new technology that I propose we use for the greenfield plant. There I learned that the economic size for a plant using this technology to manufacture a product such as FlexConnex is about 70 million units, so I propose that we prepare our estimates for Ireland based on a 70-million-unit capacity plant. Of course, this will cost more, since it is much larger than other sites. With the help of the Irish government, an appropriate site can be obtained for about $1 million. A building large enough to produce 70 million units can probably be built for about $10 million, and equipping the facility with the new technology equipment wilt' cost about $50 million. Most of this would be spent in 2003, although as much as 10 percent might be spent before the end of 2002 to acquire and prepare the site. The plant would begin production in 2004; some areas of the plant would not be complete, however, and as much as 20-25 percent of the investment would remain to be spent during 2004. Although FlexConnex's worldwide selling price will be the same as for the other facilities, the new equipment will lower the variable manufacturing cost to $0.195 per unit. The efficiency of this new plant will help keep fixed manufacturing costs down, as well, but since the facility will be so large, fixed manufacturing costs, excluding depreciation, would be higher than the other two facilities: $2.8 million annually beginning in 2004, rising to $2.9 million annually beginning in 2008. . Tom: These assumptions sound like reasonable first cuts to me. Let's just start with a five-year analysis, 2003 through 2007, using the discount rate of 20 percent, which the corporate finance manual states is the hurdle rate for capital investments. For simplicity, let's assume all cash flows occur at the end of the respective year. Discount everything to today's dollars, that is, as of the end of 2002. And, consistent with corporate policy, we'll do a pretax analysis; we'll ask the corporate finance staff to evaluate .the tax implications later. A few minutes later, the buzzing of the small groups died down, and the tapping on the laptop keyboards had ceased. Tom: Well, what have you learned from this first glance? Edward: The Waltham site looks promising. Ian: Not Ireland. Gracie: This is odd. The Santa Clara plant is right on the margin, and that surprises me since the existing manufacturing facility is one of CTI's most profitable, and we get further economies of scale by expanding that plant. I wonder if the discount rate we are using is too high. At the "Finance for Manufacturing Engineers" seminar I attended recently, we discussed the problems associated with using a discount rate that was too high. The professor stated that there was a sound theoretical basis for using a discount rate that approximated the company's cost of capital, but many companies "added on" estimates for risk, corporate charges, and other factors that were less well grounded. Based on what I learned in that seminar, I tried to estimate CTI's actual cost of capital; it was about 10 percent. I wonder what would happen if we used 10 percent instead? Tom: With these laptops and spreadsheet programs, that's easy enough; let's check it out. A few seconds later . . . Gracie: Now, that's better! Edward: Ours too. Ian: Well, at least we're moving in the right direction. But it doesn't make sense to me that a facility with lower variable cost per unit, and lower average fixed cost per unit at capacity, shows a negative NPV when the others are positive. We checked our calculations; what's the story? Could it be that Ireland would not even be up to capacity production in five years because the plant is so big? Gracie: Maybe, but our plants are being penalized, too; after all, even though they reach capacity in the first five years, they will presumably continue to produce FlexCoDl1ex.Although there is constant technological change in this industry, there is a reasonable probability that demand for FlexCoDl1exwill remain strong for at least 10 years. Ian: Well, then, let's look at each of the three plants over a ten-year period, using Gracie's 10 percent discount rate. Later. . . . . Edward: Aha! Waltham continues to improve. Gracie: However, Santa Clara has you beat now! Ian: I've got bad news for both of you! QUESTIONS: 1. Prepare the manufacturing staffs calculations for the three alternatives: a. In the first set of calculations, the staff used a discount rate of 20 percent, a five-year time horizon, and ignored taxes and terminal value. What is the relative attractiveness of these three alternatives? b. In the second set, they used a 10 percent discount rate. What happens to the NPV of each alternative? What happens to their relative attractiveness? Why? c. In the third set, they changed the time horizon to ten years, but kept the 10 percent discount rate. Why does Ian say he has "bad news" for the others? 2. In addition to reducing costs, the new technology proposed for the greenfield plant would increase manufacturing flexibility, which would enable eTI to respond more quickly to customers and to provide them more custom features. Should these factors be considered in the analysis? If so, how would you incorporate them? 3. Should other factors be taken into consideration in choosing the location of the FlexCoDFlex plant? If so, what are they? 4. Should Torn Richards continue to develop more detailed plans for these three alternatives? If not, which should be eliminated? Are there other alternatives that his staff should consider? If so, what are they? EXHIBIT 1 FlexConnex Cost Analysis Sheet Santa Clara Plant, 2002 Plant Capacity: 75 million units Selling Price Unit: $0.85 Variable Cost Unit: $0.255 Fixed Manufacturing Cost: $9.5 million annually (included $2.5 million depreciation) Estimated Plant Profitability at Capacity: Revenue $63,750,000 Variable Cost Fixed Manufacturing Cost* Plant Profitability $35,125,000 *Excludes interest expenses and corporate selling, general and administrative expenses,Okay thanks Michael. Will this be in excel format?
Question 5
Team Case Study Morgan-Moe?s drug stores are in trouble. A major regional player in the retail industry, the company has hundreds of stores in the upper Midwest. Unfortunately, a sharp decline in the region?s manufacturing economy has put management in a serious financial bind. Revenues have been consistently dwindling. Customers spend less, and the stores have had to switch their focus to very low-margin commodities, such as milk and generic drugs, rather than the high-margin impulse-buy items that used to be the company?s bread and butter. The firm has had to close quite a few locations, reversing its expansion plans for the first time since it incorporated. Being that this is uncharted territory for the company, Jim Claussen, vice president for human relations, had been struggling with how to address the issue with employees. As the company?s fortunes worsened, he could see that employees were becoming more and more disaffected. Their insecurity about their jobs was taking a toll on attitudes. The company?s downsizing was big news, and the employees didn?t like what they were hearing. Media reports of Morgan-Moe?s store closings have focused on the lack of advance notice or communication from the company?s corporate offices, as well as the lack of severance payments for departing employees. In the absence of official information, rumors and gossip have spread like wildfire among remaining employees. A few angry blogs developed by laid-off employees, like IHateMorganMoe.blogspot.com, have made the morale and public relations picture even worse. Morgan-Moe is changing in other ways as well. The average age of its workforce is increasing rapidly. A couple of factors have contributed to this shift. First, fewer qualified young people are around because many families have moved south to find jobs. Second, stores have been actively encouraged to hire older workers, such as retirees looking for some supplemental income. Managers are very receptive to these older workers because they are more mature, miss fewer days of work, and do not have child-care responsibilities. They are also often more qualified than younger workers because they have more experience, sometimes in the managerial or executive ranks. These older workers have been a great asset to the company in troubled times, but they are especially likely to leave if things get bad. If these older workers start to leave the company, taking their hard-earned experience with them, it seems likely that Morgan-Moe will sink deeper toward bankruptcy. Each team should prepare a 10-12 slide power point presentation that is either narrated or includes notes analyzing the current issues at Morgan-Moe and making recommendations on how to correct them. Your audience for this presentation will be the Upper Management at Morgan-Roe. Your recommendations should be supported by research. Grading Criteria: Criteria Possible Points Analysis of key issues is addressed 20 Recommendations are present and are clearly supported by research 20 Course material used-demonstrate this by using concepts from the course and citing sources 15 Clarity of presentation 10 Critical Thinking evidenced 10 Notes or Narration reflect use of course materials (uses and cites sources) 10 APA Format followed 5 Presentation within length parameters 10-12 slides 10 Total 100,12 power point slides, and please make it look profesional
