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Selected transactions completed by Equinix Products Inc. during the fiscal year ending December 31, 2012, were as follows Answer

Comprehensive Problem 4
Part 1:
Selected transactions completed by Equinix Products Inc. during the fiscal year ending December 31, 2012, were as follows:
1. Journalize the selected transactions.
If no entry is required, select “No Entry Required” from the dropdown and leave the amount boxes blank. For a compound transaction, if an amount box does not require an entry, leave it blank.
a. Issued 12,500 shares of $25 par common stock at $32, receiving cash.
b. Issued 2,000 shares of $100 par preferred 5% stock at $105, receiving cash.
c. Issued $400,000 of 10-year, 6% bonds at 105, with interest payable semiannually.
d. Declared a quarterly dividend of $0.45 per share on common stock and $1.25 per share on preferred stock. On the date of record, 85,000 shares of common stock were outstanding, no treasury shares were held, and 17,000 shares of preferred stock were outstanding.
e. Paid the cash dividends declared in (d).
f. Purchased 5,500 shares of Kress Corp. at $22 per share, plus a $275 brokerage commission. The investment is classified as an available-for-sale investment.
g. Purchased 6,500 shares of treasury common stock at $35 per share.
h. Purchased 36,000 shares of Lifecare Co. stock directly from the founders for $18 per share. Lifecare has 112,500 shares issued and outstanding. Everyday Products Inc. treated the investment as an equity method investment.
i. Declared a 2% stock dividend on common stock and a $1.25 quarterly cash dividend per share on preferred stock. On the date of declaration, the market value of the common stock was $40 per share. On the date of record, 85,000 shares of common stock had been issued, 6,500 shares of treasury common stock were held, and 17,000 shares of preferred stock had been issued.
j. Issued the stock certificates for the stock dividends declared in (h) and paid the cash dividends to the preferred stockholders.
k. Received $24,500 dividend from Lifecare Co. investment in (h).

l. Purchased $62,000 of Nordic Wear Inc. 10-year, 6% bonds, directly from the issuing company at par value, plus accrued interest of $550. The bonds are classifed as a held-to-maturity long-term investment.
m. Sold, at $42 per share, 2,600 shares of treasury common stock purchased in (g).
n. Received a dividend of $0.65 per share from the Kress Corp. investment in (f).
o. Sold 500 shares of Kress Corp. at $26.50, including commission.
p. Recorded the payment of semiannual interest on the bonds issued in (c) and the amortization of the premium for six months. The amortization was determined using the straight-line method.
q. Accrued interest for three months on the Nordic Wear Inc. bonds purchased in (l).
r. Lifecare Co. recorded total earnings of $205,000. Everyday Products recorded equity earnings for its share of Lifecare Co. net income.
s. The fair value for Kress Corp. stock was $18.50 per share on December 31, 2012. The investment is adjusted to fair value using a valuation allowance account. Assume Valuation Allowance for Available-for-Sale Investments had a beginning balance of zero.

Comprehensive Problem 4
Part 2:
Note: You must complete part 1 before part 2.
After all of the transactions for the year ended December 31, 2012, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data below were taken from the records of Everyday Products Inc.
On your own paper, in the working papers, or using a spreadsheet, prepare the following:
a. Prepare a multiple-step income statement for the year ended December 31, 2012, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 84,000 and preferred dividends were $85,000. (Round earnings per share to the nearest cent.) Save your calculations and enter the requested amounts below.
b. Prepare a retained earnings statement for the year ended December 31, 2012. Save your calculations and enter the requested amounts below.
c. Prepare a balance sheet in report form as of December 31, 2012. Save your calculations and enter the requested amounts below.

If required, only use the minus sign to indicate net loss before income tax, net loss, or a deficit balance in retained earnings.
Gross profit $
Total Selling expenses $
Total Administrative expenses $
Total operating expenses $
Income from operations $
Net Other expenses and income $
Income tax $
Net income $
Earnings per common share (rounded to the nearest cent) $
Retained earnings, January 1, 2012 $
Total current assets $
Investment in Nordic Wear Inc. bonds $
Total property, plant, and equipment $
Total assets $
Total current liabilities $
Net Long-term liabilities $
Total liabilities $
Total Paid-in capital Preferred 5% stock $
Total Paid-in capital Common stock, $25 par $
Total paid-in capital $
Retained earnings, December 31, 2012 $
Total stockholders’ equity $

P.S. Some of the data in the solution/Tutorial may vary from the question listed above. The questions vary all the times. Please treat this as a solution guide only and develop your own solution.

 

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From the first e-Activity, examine the best practices found in the video on inventory management Answer

Part 1

From the first e-Activity, examine the best practices found in the video on inventory management. The video link: https://www.youtube.com/watch?v=C8Z3IApWCNQ

From the second e-Activity, choose two service companies that manage inventory and compare and contrast their inventory management systems. Use the Internet to research service or product companies; take a note on how they manage their inventories. (U.S. COMPANIES) Be prepared to discuss

Based on your evaluation of both inventory management systems from Part 2 of this discussion, propose suggestions to management that would ultimately lead to improve operations.

Discussion.

From the first e-Activity, examine the best practices found in the video on inventory management.

From the second e-Activity, choose two service companies that manage inventory and compare and contrast their inventory management systems.

Based on your evaluation of both inventory management systems from Part 2 of this discussion, propose suggestions to management that would ultimately lead to improve operations.

 

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There are three factories on the Momiss River. Each emits two types of pollutants, labeled P1 and P2, into the river Answer

There are three factories on the Momiss River. Each emits two types of pollutants, labeled P1 and P2, into the river. If the waste from each factory is processed, the pollution in the river can be reduced. It costs $1500 to process a ton of factory 1 waste, and each ton processed reduces the amount of P1 by 0.10 ton and the amount of P2 by 0.45 ton. It costs $1000 to process a ton of factory 2 waste, and each ton processed reduces the amount of P1 by 0.20 and the amount of P2 by 0.25 ton. It costs $2000 to process a ton of factory 3 waste, and each ton processed reduces the amount of P1 by 0.40 ton and the amount of P2 by 0.30 ton. The state wants to reduce the amount of P1 in the river by at least 30 tons and the amount of P2 by at least 40 tons. a. Use solver to determine how to minimize the cost of reducing pollution by the desired amounts. Are the LP assumptions (proportionally, additively, divisibility) reasonable in this problem? b. use SolverTable to investigate the effects of increases in the minimal reductions required by the state. Specifically, see what happens to the amounts of waste processed at the three factories and the total cost if both requirements (currently 30 and 40 tons, respectively) are increased by the same percentage. Revise your model so that you can use SolverTable to investigate these changes when the percentage increase varies from 10% to 100% in increments of 10%. Do the amounts processed at the three factories and the total cost change in a linear manner?

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P. 5-4 The following is an excerpt from a note to the financial statements of the city of Dallas Answer

Option #1: Government and Not-For-Profit Accounting Portfolio #1

Your portfolio project will provide specific answers to questions that follow. Apply what you have learned in this course to your answers to these questions in a microsoft word document.

1. 5-4: Generally accepted modified accrual accounting practices pertaining to inventories may not fulfill the objectives of financial reporting. (80 points)

Scenario 2: The following is an excerpt from a note to the financial statements of the city of Dallas (dates changed):

The city prepares its annual appropriated general fund, debt service fund, and proprietary operating funds budgets on a basis (budget basis) which differs from generally accepted accounting principles (GAAP basis). The major differences between the budget and GAAP bases are that encumbrances are recorded as the equivalent of expenditures (budget) rather than a commitment of fund balance (GAAP) in the governmental funds.

The city accounts for inventories on the purchases basis. One of the city’s departments, which is accounted for in the general fund, budgeted $195,000 in supplies expenditures for fiscal 2015. It began the 2015 fiscal year with $30,000 of supplies on hand. It also had $12,000 of supplies on order. During the year it ordered an additional $180,000 of supplies, received (and paid for in cash) $185,000 of supplies, and consumed $178,000 of supplies.

Instructions:

Prepare all journal entries, consistent with GAAP, including budgetary and encumbrance entries that the department should make in 2015.

Indicate the accounts and amounts related to supplies that the city would report on its year-end statement of revenues, expenditures, and changes in fund balance and balance sheet.

By how much did the department over- or under-spend its supplies budget (on a budget basis)?

Comment on the extent to which the city’s statement provides a basis to:

Assess the ‘‘true’’ economic costs associated with supplies

Determine whether the city adhered to budgetary spending mandates

Suppose that in the last quarter of the year, department officials realized that the department was about to overspend its supplies budget. They therefore ceased placing new orders for supplies. However, they imposed no restrictions on the use of supplies and thereby allowed the supplies inventory to decline to near zero.

What impact would these cost-cutting measures have on supplies expenditures as reported in an actual-to budget comparison (on a budget basis)?

What impact would the year-end measures have on reported supplies expenditures (per GAAP)? Would your response be different if the city accounted for supplies on the consumption basis?

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Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled Answer

“Hillyard Company, an office supplies specialty store, prepares its master budget on a quarterly basis. The following data have been assembled to assist in preparing the master budget for the first quarter:
As of December 31, (the end of the prior quarter), the company’s general ledger showed the following account balances:
Cash $48,000 (debit)
Accounts receivable $224,000 (debit)
Inventory $60,000 (debit)
Buildings and equipment, net $370,000 (debit)
Accounts payable $93,000 (credit)
Capital stock $500,000 (credit)
Retained earnings $109,000 (credit)
Actual sales for December and budgeted sales for the next four months are as follows: December $280,000, January $400,000, February $600,000, March $300,000 and April $200,000.
Sales are 20% for cash and 80% on credit. All payments on credit sales are collected in the month following sale. The accounts receivable at December 31 are a result of December credit sales.
The company’s gross margin is 40% of sales. (In other words, cost of goods sold is 60% of sales.)
Monthly expenses are budgeted as follows: salaries and wages, $27,000 per month; advertising, $70,000 per month; shipping, 5% of sales; other expenses, 3% of sales. Depreciation, including depreciation on new assets acquired during the quarter, will be $42,000 per quarter.
Each month’s ending inventory should equal 25% of the following month’s cost of goods sold.
One half of the month’s inventory purchases is paid for in the month of purchase; the other half is paid in the following month.
During February, the company will purchase a new copy machine for $1,700 cash. During March, other equipment will be purchased for cash at a cost of $84,500.
During January, the company will declare and pay $45,000 in cash dividends.
Management wants to maintain a minimum cash balance of $30,000. The company has an agreement with a local bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. The company would, as far as it is able, repay the loan plus accumulated interest at the end of the quarter.
Required:
Using the data above, complete the following statements and schedules for the first quarter:
Schedule of expected cash collections
Schedule of Expected Cash Collections
January February March Quarter
Cash sales $80,000
Credit sales $224,000
Total Collections $304,000
Merchandise purchases budget:
Merchandise Purchases Budget
January February March Quarter
Budgeted Cost of Goods Sold $240,000* $360,000
Add desired ending inventory $90,000**
Total needs $330,000
Less beginning inventory $60,000
Required purchases $270,000
*$400,000 sales x 60% cost ratio = $240,000
** $360,000 x 25% = $90,000
Schedule of Expected Cash Disbursements-Merchandise Purchases
January February March Quarter
December purchases $93,000 $93,000
January purchases $135,000 $135,000 $270,000
February purchases
March purchases
Total disbursements $228,000
Complete the following:
Schedule of Expected Cash Disbursements-Selling and Administrative Expenses
January February March Quarter
Salaries and wages $27,000
Advertising $70,000
Shipping $20,000
Other expenses $12,000
Total disbursements $129,000
Complete the following cash budget:
Cash Budget
January February March Quarter
Cash balance, beginning $48,000
Add cash collections $304,000
Total cash available $352,000
Less cash disbursements
For inventory $228,000
For selling and admin expenses $129,000
For purchase of equipment ——
For cash dividends $45,000
Total cash disbursements $402,000
Excess (deficiency) of cash ($50,000)
Financing needed
Cash balance, ending

 

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Work Breakdown Structure (WBS) Week 4 Proj 591 sustainability proj management Answer

The embedded US Green Building Council link below is to www.usgbc.org
The project for this course is a group assignment where each group will follow project management best practices and prepare several key project management deliverables to support the efficient and effective delivery of a green multiuse academic building. To learn more about green building practices, view the Tutorial and visit the US Green Building Council http://www.usgbc.org/ to learn about their LEED program, which stands for Leadership in Energy and Environment Design. LEED is a series of guidelines to ensure buildings are sustainable. The guidelines address the following issues that you should consider for your project:
• Site Location
• Water Conservation
• Energy Efficiency
• Materials
• Indoor Air Quality

Work Breakdown Structure (WBS) Week 4 Using the example provided in Doc Sharing (WBS Example), develop a three-level WBS reflecting the decomposition of major deliverables to a lower level of detail.

 

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Share the titles of the cluster groups you created (not the individual topics within each of the clusters.) Answer

Discussion 2: “Clutter Control.”

  • Share the titles of the cluster groups you created (not the individual topics within each of the clusters.) (“Clustering”)

Ans: The titles of cluster groups created are:

  1. Telecommuting in workplace & Types of industries where telecommuting can easily be adopted
  2. Benefits of Telecommuting and the impact of the telecommuting on organization’s output and productivity
  3. The impact of telecommuting on the organizational dynamics, culture and environment
  4. Technology and tools used for telecommuting
  5. Future of telecommuting and how will it shape the industry and workplace in the future
  • Share the list of topics you placed in one or two of the cluster groups.

Ans: The lists of topics to be placed in two groups are:

  1. What is telecommuting
  2. How telecommuting is being adopted in different industries and which industry is most easier to adopt the concept of telecommuting
  3. Constraints and limitations of telecommuting in implementing in the workplace
  4. Industry and Management’s views on the telecommuting
  5. Cost benefit analysis of telecommuting
  6. The impact of telecommuting on the industry or company’s outputs and deliverables
  • Explain how you modified the list(s) to better serve your argument. (“Analyzing”)

Ans: Once I clustered the different groups then I started analyzing within each clustered group what topics or lists would best fit into that group. While studying the “Telecommuting in workplace & Types of industries where telecommuting can easily be adopted”, I started firstly with the definition of Telecommuting as to what does it really mean. Then the next logical step for me was to find out which all industries or company have readily adopted the telecommuting or are in the process of adopting telecommuting. This leads to constraints and limitations in adopting them. I also wanted to capture the views of industry experts about telecommuting. The next cluster group that I have selected is – “Benefits of Telecommuting and the impact of the telecommuting on organization”. This will contain topics e.g. the Cost benefit analysis of telecommuting and then what impact does it have on the deliverables or the outputs of the various processes. This would be crucial to understand before the telecommuting can make inroads into many companies’ workplace.

  • Show how you would order the list of modified topics – this is the beginning of your outline for the paper. (“Prioritizing”).

Ans: The order of the modified topics can be prioritized as:

– What is telecommuting?

– Applicability in different industries and companies

– Constraints and Limitations

– Impact and benefit of telecommuting on the organization

– Future of telecommuting and how will it shape the industry and workplace in the future

– Technology and tools used for telecommuting

– Future of telecommuting

– How will it shape the industry and workplace in the future

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MGMT 592 Leadership in the 21st Century week 4 Mid-Term Read the case “Steve Jobs – Apple,” pages 24-25 Answer

1. (TCO A) Read the case “Steve Jobs – Apple,” pages 24-25. Which of the leadership theory classifications do you see apply to this case? Which one do you consider as most relevant? Explain your choice.

2. (TCO A) Compare and contrast the trait and behavioral leadership theories.

3. (TCO B) Explain the types of reinforcement, and how each is applied.

4. TCO C) Compare and contrast the position and personal power.

5. TCO H) How would you provide feedback, and why?

 

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Busn 278 Budgeting and Forecasting Final Exam A+ Solution

Devry Busn 278 Budgeting and Forecasting Final Exam.

1. (TCO 1) Which one of the following is not a benefit of budgeting? (Points : 5)

It facilitates the coordination of activities.
It provides definite objectives for evaluating performance.
It provides assurance that the company will achieve its objectives.
It provides early warning signs of potential threats.

2. (TCO 2) Which of the following is not a qualitative forecasting method? (Points : 5)

Executive opinions
Sales force polling
Delphi method
Classical decomposition

3. (TCO 3) Which of the following statements regarding the t-statistic is true? (Points : 5)

The t-statistic cannot be negative.
The t-statistic measures how many standard errors the coefficient is away from the independent variable.
The higher the t-value, the more confidence we have in the coefficient.
Low t-values indicate high reliability.

4. (TCO 4) Which of the following statements regarding the risk associated with R&D activities is incorrect? (Points : 5)

The amount of time between the R&D activity and the cash flows from the project does not affect risk.
Greater risk is associated with creating new products than improving existing products.
Risk increases as the time between the R&D activity and the cash flows from the project increases.
Assessing risk is a vital part of research and development.

5. (TCO 5) Program budgeting does not include: (Points : 5)

Controlling
Programming
Budgeting
Planning

6. (TCO 6) The payback period technique ___________ (Points : 5)

should be used as a final screening tool.
can be the only basis for the capital budgeting decision.
is relatively easy to compute and understand.
considers the expected profitability of a project.

7. (TCO 6) The profitability index is computed by dividing the ___________ (Points : 5)

total cash flows by the initial investment.
present value of cash inflows by the present value of each outflow.
initial investment by the total cash flows.
initial investment by the present value of cash flows.

8. (TCO 6) A company projects annual cash inflows of $85,000 each year for the next five years if it invests $300,000 in new equipment. The equipment has a five-year life and an estimated salvage value of

$75,000. What is the accounting rate of return on this investment? (Points : 5)

28.3%
13.3%
15%
43.3%

9. (TCO 6) If an asset costs $210,000 and is expected to have a $30,000 salvage value at the end of its ten-year life, and generates annual net cash inflows of $30,000 each year, the payback period is _____.

(Points : 5)

5 years
6 years
7 years
8 years

10. (TCO 6) Hyde Inc. is comparing several alternative capital budgeting projects as shown below:

Projects A B C

Initial Investment $110,000 $90,000 $50,000

Present value of cash inflows $100,000 $100,000 $60,000

Using the profitability index, rank the projects, starting with the most attractive. (Points : 5)

A, C, B.
A, B, C.
C, A, B.
C, B, A.

11. (TCO 6) Cleaners, Inc. is considering purchasing equipment costing $30,000 with a six-year useful life. The equipment will provide cost savings of $7,300 and will be depreciated straight-line over its

useful life with no salvage value. Cleaners requires a 10% rate of return. What is the approximate net present value of this investment? (Points : 5)

$13,800
$1,794
$886
$2,748

12. (TCO 7) Which of the following would not appear as a fixed expense on a selling and administrative expense budget? (Points : 5)

Freight-out
Office salaries
Property taxes
Depreciation

13. (TCO 7) A company budgeted unit sales of 102,000 units for January, 2008 and 120,000 units for February, 2008. The company has a policy of having an inventory of units on hand at the end of each

month equal to 30% of next month’s budgeted unit sales. If there were 30,600 units of inventory on hand on December 31, 2007, how many units should be produced in January, 2008 in order for the company

to meet its goals? (Points : 5)

107,400 units
102,000 units
96,600 units
138,000 units

14. (TCO 8) Standards that are based on efficient activity with allowances for unavoidable losses are called _______ (Points : 5)

basic standards.
maximum efficiency standards.
currently attainable standards.
expected standards.

15. (TCO 9) A static budget is appropriate for __________ (Points : 5)

variable overhead costs.
direct materials costs.
fixed overhead costs.
none of these.

16. (TCO 9) If the activity level increases 10%, total variable costs will ___________. (Points : 5)

remain the same
increase by more than 10%
decrease by less than 10%
increase 10%

17. (TCO 9) At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted

to $6,000. Using the high-low method, what is the estimated fixed cost element of power costs? (Points : 5)

$12,000
$6,000
$3,600
$8,400

18. (TCO 10) Which of the following statements regarding budget reports is incorrect? (Points : 5)

The cost of budget reports should not outweigh the benefits.
Budget reports are used for planning, control, and information.
Reports prepared for upper management typically have fewer details than reports prepared for lower-level managers.
Reports are prepared more frequently for upper management than for lower-level managers.

Page 2

1. (TCO 7) The first step in creating the master budget is the sales budget. Describe this budget and the information it includes. Why is the accuracy of the sales budget important? (Points : 20)

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action.

Part (a) Identify and describe the three types of cost behavior, including examples of each Part.

Part (b) As a manager, which cost behavior would you prefer and why? (Points : 20)

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new investments.

Part (a) Compute each of the following:
1: Payback period.
2: Net present value.
3: Profitability index.
4: Internal rate of return.
5: Accounting rate of return.

(b) Indicate whether the investment should be accepted or rejected. (Points : 30)

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

February

$150,000

March

$120,000

April

$105,000

May

$165,000

Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second month following the sale. The other 2% is uncollectible.

Prepare a schedule which shows expected cash receipts from sales for the month of May.

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

Product

Budgeted Sales

Actual Sales

A

35,300 units at $2.00 per unit

32,700 units at $2.60 per unit

B

27,900 units at $5.00 per unit

29,200 units at $4.70 per unit

Part (a) Calculate the sales volume variance.
Part (b) Calculate the sales price variance.
Part (c) Calculate the total sales variance.

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs:
Calls

Costs

2,000

$2,400

1,500

2,000

2,200

2,600

2,500

2,900

2,300

2,700

1,700

2,200

Identify the fixed and variable cost elements using the high-low method.

2. (TCO 9) Understanding how costs behave can help managers plan operations and choose between various courses of action.

Part (a) Identify and describe the three types of cost behavior, including examples of each.
Part (b) As a manager, which cost behavior would you prefer and why? (Points : 20)

3. (TCO 6) Yappy Company is considering a capital investment of $320,000 in additional equipment. The new equipment is expected to have a useful life of 8 years with no salvage value. Depreciation is

computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $65,000, respectively. Yappy requires a 10% return on all new

investments.

Part (a) Compute each of the following:
1: Payback period.
2: Net present value.
3: Profitability index.
4: Internal rate of return.
5: Accounting rate of return.
(b) Indicate whether the investment should be accepted or rejected. (Points : 30)

4. (TCO 7) Roswell Company has budgeted sales revenue as follows for the next 4 months as follows:

February

$150,000

March

$120,000

April

$105,000

May

$165,000

Past experience indicates that 80% of sales each month are on credit and that collection of credit sales occurs as follows: 60% in the month of sale, 35% in the month following the sale, and 3% in the second

month following the sale. The other 2% is uncollectible.

Prepare a schedule which shows expected cash receipts from sales for the month of May.

5. (TCO 8) Eastern Company’s budgeted and actual sales for 2009 were:

Product

Budgeted Sales

Actual Sales

A 35,300 units at $2.00 per unit

32,700 units at $2.60 per unit

B 27,900 units at $5.00 per unit

29,200 units at $4.70 per unit

Part (a) Calculate the sales volume variance.
Part (b) Calculate the sales price variance.
Part (c) Calculate the total sales variance.

6. (TCO 9) The Mays Clinic has the following monthly telephone records and costs:

Calls Costs

2,000 $2,400

1,500 2,000

2,200 2,600

2,500 2,900

2,300 2,700

1,700 2,200

Identify the fixed and variable cost elements using the high-low method.

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