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ACC 561 Quiz 2 Answer
Course: ACC ACC561, Spring 2010School: Phoenix
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of University Phoenix, Northern Virginia Campus ACC 561 Accounting Course Quiz 2 (Chapters 15-16) Facilitator: Randolph A. Stanley Student Name: Lien 1. Bach 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. A B C D B A D A B A C A A C D B B C C A B C D B C
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of University Phoenix, Northern Virginia Campus ACC 561 Accounting Course Quiz 2 (Chapters 15-16) Facilitator: Randolph A. Stanley
Student Name: Lien 1. Bach 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. A B C D B A D A B A C A A C D B B C C A B C D B C
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Phoenix - ACC - ACC561
University of Phoenix, Northern Virginia Campus ACC 561 Accounting Course Quiz 3 (Chapters 7,8) Facilitator: Randolph A. StanleyStudent Name: LIEN BACH Grade:_ 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. C D B D C D C C B C D D
Phoenix - ACC - ACC561
University of Phoenix, Northern Virginia Campus ACC 561 Accounting Course Quiz $ (Chapters 12, 13) Facilitator: Randolph A. StanleyStudent Name: LIEN BACH Grade:_ Instructions: Please answer all questions. Each question worth 1point for a total of 25poin
Phoenix - ACC - ACC561
University of Phoenix, Northern Virginia Campus ACC 561 Accounting Course Quiz 1 (Chapters 1, 5, 6) Facilitator: Randolph A. StanleyStudent Name:_ Grade:_ Instructions: Please answer all questions. Each question worth 1point for a total of 25points. You
Phoenix - ACC - ACC561
AuntConniesCookies1AUNT CONNIE'S COOKIES Lien Bach University of Phoenix Accounting-ACC/561AuntConniesCookies2Connie Rocha started her businessAunt Connies Cookiesin 1986 after making cookies for a fundraiser event and receiving a great deal of posit
Phoenix - ACC - ACC561
Lemon Crme Unit 1000 900 800 Unit CM 0.94 0.94 0.94 Profit 670 576 482Chocorones Revenue Variable costs Fixed costs Total cost Operating profitsLabor-intensive operations 2250 1200 150 1350 900Equipment intensive operations 2250 750 600 1350 900Real M
Phoenix - ACC - ACC561
Guillermo Furniture Store Flexible Budget Items Flexible Budget fourmula Units Mid-grade High_end Revenue Mid-grade High_end Total Revenue Variable Costs: Direct Material Cost per unitMid-Grade High-EndFlexible Budgets Far various Levels Option 1 2700 4
Phoenix - ACC - ACC561
1Running Head: GUILLERMO FURNITURE STORE SCENARIOGuillermo Furniture Store Scenario Lien Bach University of Phoenix Accounting-ACC/5612GUILLERMO FURNITURE STORE SCENARIOGuillermo Navallez has built a furniture company providing the variety of tables
Phoenix - ACC - ACC561
Productionunit Price/Unit Sales Variablecost DirectMaterial DirectLabor Benefits Totalvariablecost Contributionmargin Contributionmarginratio Fixedcost Salaried Utiliities Insurance Propertytax Depreciaton Supplies TotalfixedcostMidgrade2800 509 1425200
Phoenix - ACC - ACC561
Week 1 In- Class Exercises1. Strangle Company manufactures ties. When 28,000 items are produced, the costs per unit are: Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling Fixed selli
Phoenix - ACC - ACC561
Week 2 Class Exercises 1.Below are the transactions for Newman Company: 1. The owners invested $10,000 cash in Newman Company. 2. Newman Company acquired equipment that cost $8,000. 25% of the balance was paid in cash with the balance as a note. 3. Newma
Phoenix - ACC - ACC561
Week 3 Class Exercises1. Frances Company produces only product A. The following information is available: Selling price per unit Variable costs per unit Total fixed costs Required: a. Compute break-even point in units. b. Compute break-even volume in dol
Phoenix - ACC - ACC561
Week 4 Class Exercise 1. The Drew Company has the following information: Month March April May June July Budgeted Sales $150,000 153,000 151,000 254,500 252,500In addition, the gross profit rate is 40% and the desired ending inventory level is 20% of nex
Phoenix - ACC - ACC561
Week 5 Class Exercises 1. Robert Companys power plant provides electricity for its two producing departments, A and B. The budget for the power plant shows the following: Budgeted fixed costs Budgeted variable costs per kilowatt hour Additional data are a
Phoenix - ACC - ACC561
Week 6 Class Exercise 1. The following information is available for Wildwood Consulting Company and its two offices: Euclid North Royalton Office Office Net sales $250,000 $400,000 Fixed costs: Controllable by division manager 78,000 48,000 Controllable b
Phoenix - ACC - ACC561
University of Phoenix, Northern Virginia Campus ACC 561 Accounting Course Quiz 1 (Chapters 1, 5, 6) Facilitator: Randolph A. StanleyStudent Name:_ Grade:_ Instructions: Please answer all questions. Each question worth 1point for a total of 25points. You
Phoenix - ACC - ACC561
University of Phoenix, Northern Virginia Campus ACC 561 Accounting Course Quiz 2 (Chapters 15-16) Facilitator: Randolph A. StanleyStudent Name:_ Grade:_ Instructions: Please answer all questions. Each question worth 1point for a total of 25points. You mu
Phoenix - ACC - ACC561
Quiz 3 (Chapters 7-8) 1. _ budgeting is when budgets are formulated with the active participation of all affected employees a. b. c. d. 2. Financial Team Participative SharedBudgets are generally more effective if they are _. a. b. c. d. created with the
Phoenix - ACC - ACC561
Quiz 4 (Chapter 12-13) 1. Cost allocation base refers to the _. a. b. c. d. 2. cost driver total costs to be allocated total allocated costs cost objectives_ is not a type of cost allocation. a. b. c. d. Allocation of costs to the appropriate organizatio
Phoenix - ACC - ACC561
Setup Information Brian Lindquist Peso? (1=Yes) 0 0.08 1.00 10.814 Mexican Pesos = 1.000 US Dollars Income Information-Current Standards Current Production Mid-Grade High-End Direct Materials ($)/Unit Mid-Grade High-End Direct Labor ($/HR)/Unit Labor Time
Phoenix - ACC - ACC561
ACC/561 AccountingScenario: The Guillermo Furniture StoreWhile many people recognize Sonora, Mexico as a beautiful vacation spot, it is also a large furniture manufacturing location in North America. Guillermo Navallez has made furniture for years near
Phoenix - ACC - ACC561
CHAPTER10COST ANALYSIS FOR MANAGEMENT DECISION MAKINGReview Summary1. Absorption costing or full costing assigns direct materials and direct labor costs and a share of both fixed and variable factory overhead costs to units of production. In variable co
Phoenix - ACC - ACC561
Flex Budget 1Flex Budget Team B ACC/561 University of Phoenix May 11, 2008Flex Budget 2Flex Budget Analysis Guillermo Furniture production grew into a thriving enterprise that is now being threatened by foreign competition. Advanced production technolo
Phoenix - ACC - ACC561
Setup Information Brian Lindquist Peso? (1=Yes) 0 0.08 1.00 10.814 Mexican Pesos = 1.000 US Dollars Income Information-Current Standards Current Production Mid-Grade High-End Direct Materials ($)/Unit Mid-Grade High-End Direct Labor ($/HR)/Unit Labor Time
Phoenix - ACC - ACC561
ACC/561 AccountingScenario: The Guillermo Furniture StoreWhile many people recognize Sonora, Mexico as a beautiful vacation spot, it is also a large furniture manufacturing location in North America. Guillermo Navallez has made furniture for years near
Phoenix - ACC - ACC561
ACC/561 AccountingWeek One Content Outline: Decision MakingOBJECTIVE: Explain the role of budgets and performance reports in the management decisionmaking process. Resource: Ch. 1 of Introduction to Management Accounting ContentManagerial Accounting, t
Phoenix - ACC - ACC561
Management by Exception (pp . 1 1 -14)Importance of Ethics (pp . 8-10)Ch. 1 : Managerial Accounting the , Business Organization a nd , Professional Ethics (in Horngren, Sundem & Stratton )Evaluate the role of ethics in accounting decision making .Ch.
Phoenix - ACC - ACC561
ACC/561Week One Important Note to Students Greetings, class: This is a challenging course. Because this is a graduate course, you'll be required to work with unknowns, research new concepts, and apply theory to incomplete situations. Just like in the wor
Phoenix - ACC - ACC561
ACC/561 Student Road MapWeek OneStudent Road Map STUDENT ROAD MAP We designed this course to help you develop analytical skills as a manager and apply the tools necessary to make business decisions. Some objectives are linked to short tutorials that conn
Phoenix - ACC - ACC561
Week 1 In- Class Exercises1. Strangle Company manufactures ties. When 28,000 items are produced, the costs per unit are: Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling Fixed selli
Phoenix - ACC - ACC561
ACC/561Kymberly Polser, CPA I am a Phoenix . . .2007 Prentice Hall Business Publishing, Introduction to Management Accounting 14/e, Horngren/Sundem/Stratton1-1 2008PrenticeHallBusinessPublishing,IntroductiontoManagementAccounting14/e,Horngren/Sundem/St
Phoenix - ACC - ACC561
IntroductiontoManagementAccounting Chapter5RelevantInformationfor DecisionMakingwithaFocus onPricingDecisions08PrenticeHallBusinessPublishing,IntroductiontoManagementAccounting14/e,Horngren/Sundem/Stratton/Schatzberg/Burgstahler5 - 1 08PrenticeHallBusin
Phoenix - ACC - ACC561
IntroductiontoManagementAccounting Chapter6RelevantInformationfor DecisionMakingwithaFocus onOperationalDecisions08PrenticeHallBusinessPublishing,IntroductiontoManagementAccounting14/e,Horngren/Sundem/Stratton/Schatzberg/Burgstahler6- 1 08PrenticeHallBu
Phoenix - ACC - ACC561
ACC/561 AccountingWeek Two Content Outline: Financial StatementsOBJECTIVE: Apply the concepts, techniques, and conventions of basic financial accounting. Resource: Ch. 15 of Introduction to Management Accounting ContentBasic Accounting: Concepts, Techn
Phoenix - ACC - ACC561
Ch. 15: Basic Accounting: C oncepts, Techniques, and Conventions (in Horngren , Sundem & Stratton)Three Measurement Conventions (pp. 702705) Ch. 15: Basic Accounting: Concepts, Techniques, and Conventions (in Horngren, Sundem & Stratton)Apply the concep
Phoenix - ACC - ACC561
Review IASB Web site: http:/www.iasb.org/Home.htm Review FASB Web site: http:/www.fasb.org/Assessment
Phoenix - ACC - ACC561
Identifying resources , Activities, Costs, a nd Cost Drivers (pp. 4 648)Variable and Fixed C ost Behavior (pp. 48 -53)Management Influence on Cost Behavior (pp. 9 7-99)Cost Volume Profit Analysis (pp. 5 3-64) Ch. 2: Introduction to Cost Behavior and Co
Phoenix - ACC - ACC561
ACC/561 AccountingWeek Four Content Outline: BudgetsOBJECTIVE: Explain the major components, advantages, and disadvantages of a master budget. Resource: Ch. 7 of Introduction to Management Accounting ContentIntroduction to Budgets and Preparing the Mas
Phoenix - ACC - ACC561
Types of Budgets (pp. 304-305) Potential Problems in Implementing Budgets (pp. 299-304) Ch. 7 : Introduction to Budgets and Preparing the Master Budget (in H orngren, Sundem & Stratton)Ch. 7: Introduction to Budgets and Preparing the Master Budget(in H o
Phoenix - ACC - ACC561
ACC/561 AccountingWeek Five Content Outline: Cost AllocationOBJECTIVE: Explain the methods of cost allocation. Resource: Ch. 12 of Introduction to Management Accounting ContentCost Allocation (in Horngren, Sundem, Stratton, Burgstahler, & Schatzberg)o
Phoenix - ACC - ACC561
Accounting for Factory Overhead (pp . 590 - 591 )Ch. 12: C ost Allocation ( in Ch. 1 3: Accounting forH orngren , Sundem & Stratton )Overhead Costs ( in H orngren , Sundem & Stratton )Explain the methods of c ost allocation.Analyze how factory overhe
Phoenix - ACC - ACC561
ACC/561 AccountingWeek Six Content Outline: Performance ManagementOBJECTIVE: Evaluate how managers use control systems to achieve organizational goals. Resource: Ch. 9 of Introduction to Management Accounting ContentManagement Control Systems and Respo
Phoenix - ACC - ACC561
Management Control Systems and Organizational Goals (pp. 386-388) Measures of Profitability (pp. 433435) Ch. 9: Management Control Systems and Responsibility Accounting (in Horngren, Sundem & Stratton)Ch. 10: Management Control in D ecentralized Organiza
Phoenix - ACC - ACC561
PrologueManagerial Accounting and the Business EnvironmentStudy SuggestionsaThe prologue describes important aspects of the contemporary business environment. While there are no written assignments, you should be familiar with the major ideas as backg
Phoenix - ACC - ACC561
AccordingtoBnet.com,Assetutilizationmeasuresacompanysabilitytomakebestuseofits resourcesandbyinference,thequalityofitsmanagement.Assetutilizationisalsocalled ReturnonAssets.Basedonthisratios,themanagementofacompanycanmeasurehowmuch moneytheygetreturnforev
Phoenix - ACC - ACC561
SERVICEDEPARTMENT X Y ZSQUAREFEET DIRECTDEPARTMENTCOSTS OCCUPIED 300000 225000 480000 10050006000 4000 3000 13000PRODUCTIONDEPARTMENT P1 P2750000 600000 13500008000 7000 15000DIRECTLABORFLOURS 13000 7000 6000 2600017000 15000 32000
Phoenix - ACC - ACC561
CHAPTER 8Budgeting for Planning and ControlLEARNING OBJECTIVESAfter studying this chapter, you should be able to: 1. Define budgeting and discuss its role in planning, controlling, and decision making. 2. Prepare the operating budget, identify its majo
Phoenix - ACC - ACC561
Guillermo Furniture Store Flex Budget University of Phoenix Introduction Cost relationship behaviors Areas of business decisions that are of great importance to discuss are how the cost behaviors at Guillermo can affect the decision making prerogatives an
Phoenix - ACC - ACC561
1._ refers to accounting information developed for managers within an organization.a. Internal auditing b. Managerial accounting c. Financial accounting d. Tax accounting 2. a. b. c. d. 3. Ethical accountants are important to society because _. they pay
Phoenix - ACC - ACC561
Month June July August September OctoberBudgeted Sales Cost of Good Sold Ending Inventory Level 68000 44200 18000 72000 46800 18500 74000 48100 19000 76000 49400 19500 78000 50700Beginning Inventory Purchase Budget 18000 18500 19000 47300 48600 49900Ap
Phoenix - ACC - ACC561
LIEN BACH Problem Set 3 1. The following information is available for Animal Company and its two divisions, Reptiles and Mammals: Company as a whole Net sales Fixed costs: Controllable by division managers Controllable by others Variable costs: Cost of me
Phoenix - ACC - ACC561
Net Sales Variable Costs Cost of merchandise managers Operating Expenses Total variable costs Contribution margin Less: fixed costs controllable by division managers Contribution Controllable by managers Less: fixed costs controllable by others Contributi
Phoenix - ACC - ACC561
LIENBACH ProblemSet11. TexasCompany AdditionalCost:2,000*(15+45+25)=170,000 AdditionalRevenue:2,000*120=240,000 Profit:240,000170,000=70,000 Conclusion:Iftheorderwereaccepted,theoperatingincomeofTexasCompany wouldincrease70,000.2. GeorgiaCompany Sales:1
Phoenix - ACC - ACC561
Course Syllabus ACC/561 Please print a copy of this syllabus for handy reference.University of PhoenixWhenever there is a question about what assignments are due, please remember this syllabus is considered the ruling document. Please note that the inst
Phoenix - ACC - ACC561
Team A (Christ, Kat, Lien, Mike, Sophia) Team exercise set 1 1. Wildwood Corporation: a) Contribution margin unit =17.55 Unit sales price-unit variable costs=68.50-50.95=17.55b) Contribution margin ration=25% Contribution margin ration=contribution margi
Phoenix - ACC - ACC561
The break-even point for a product is the point where total revenue received equals the total costs associated with the sale of the product (TR=TC). [1]A break-even point is t ypically calculated in order for businesses to determine if it would be profita
Phoenix - ACC - ACC561
In what ways do the elements of the four financial statements (The four main financial statements being: balance sheet, the income statement, the statement of cash flows, and the statement of changes in owners equity.) interact with one another? How might
Phoenix - ACC - ACC561
Write a 1050-word paper discussing how differences in the industries and different measurement conventions (IASB and FASB) affect presentations. If one of the companies uses the cash basis of accounting, how would that differ from the accrual basis? If yo
Phoenix - ACC - ACC561
A master budget is a detailed and comprehensive analysis of an organizations longand 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 th
Phoenix - ACC - ACC561
Aunt Connies Cookies1AUNT CONNIE'S COOKIES Lien Bach University of Phoenix Accounting-ACC/561Aunt Connies Cookies2Connie Rocha started her businessAunt Connies Cookiesin 1986 after making cookies for the fundraiser and people like them. According to
Kennesaw - FIN - 3000
12:14 EAR=(1+APR/m)^m1 EAR=(1+periodicrate)^m1 APRignoresinterestoninterest EAR=(1+APR/m)^m1 1+4.6929/26.071428)^26.0714281=$7383.11453<willearnthatmuchfor everydollarwitha469% bankofAmericaproblem FV=PV(1+r)^t FV=PV(1+EAR)^t FV=PV(1+e^rt1)^t FV=PVe^rt<4v
Kennesaw - FIN - 3000