ACCT 505 HELP Education Planning--acct505help.com

ACCT 505 Entire Course (New)
FOR MORE CLASSES VISIT
www.acct505help.com
ACCT 505 Week 1-7 All Discussion Questions
ACCT 505 Week 1 Case Study
ACCT 505 Week 2 Quiz Job Order and Process Costing Systems
ACCT 505 Week 2 Quiz Set 2
ACCT 505 Week 3 Case Study II
ACCT 505 Week 4 Midterm Exam
ACCT 505 Week 5 Course Project 1 LBJ Company (New)
ACCT 505 Week 5 Measuring Performance - Course Project A
ACCT 505 Week 6 Quiz Segment Reporting and Relevant Costs for
Decisions
ACCT 505 Week 7 Capital Budgeting Course Project
ACCT 505 Week 7 Course Project 2 Capital Budgeting Decision
(New)
ACCT 505 Final Exam Guide (New) Set 1
ACCT 505 Midterm Exam (New) Set 1
==============================================
ACCT 505 Final Exam (Devry)
www.acct505help.com
ACCT 505 Final Exam
==============================================

ACCT 505 Final Exam (New) All 3 Set
www.acct505help.com
Score 248/250
Multiple Choice 2
Short 2
Essay 7
Question 1 : (TCO E) Designing a new product is a(n)
2. Question : (TCO G) Given the following data, what would ROI be?
Sales $70,000
Net operating income $10,000
Contribution margin $20,000
Average operating assets $50,000
Stockholder's equity $25,000
1. Question : (TCO C) Longiotti Corporation produces and sells a
single product. Data
concerning that product appear below.
Selling price per unit $375.00
Variable expense per unit $144.00
Fixed expense per month $1,686,300
Required:
Determine the monthly breakeven in units or dollar sales. Show your
work!
2. Question : (TCO B) Maverick Corporation uses the weighted-
average method in its
process costing system. Data concerning the first processing
department for
the most recent month are listed below.
Work in process, beginning:
Units in beginning work in process inventory 400

4. Question : (TCO F) Walker Corporation is preparing its cash
budget for November. The
budgeted beginning cash balance is $43,000. Budgeted cash receipts
total $117,000 and budgeted cash disbursements total $122,000. The
desired
ending cash balance is $55,000. The company can borrow up to
$100,000 at
any time from a local bank, with interest not due until the following
month.
Required:
Prepare the company's cash budget for November in good form. Make
sure
to indicate what borrowing, if any, would be needed to attain the
desired
ending cash balance
5. Question : (TCO F) Bella Lugosi Holdings, Inc. (BLH), has
collected the following
operating information for its current month's activity. Using this
information,
prepare a flexible budget analysis to determine how well BLH
performed in
terms of cost control.
Static Budget
Activity level (in units) 5,250 5,178
Variable costs:
Indirect materials $24,182 $23,476
Utilities $22,356 $22,674
Fixed costs:
Administration $63,450 $65,500
Rent $65,317 $63,904
6. Question : (TCO H) Lindon Company uses 7,500 units of Part Y
each year as a
component in the assembly of one of its products. The company is
presently
producing Part Y internally at a total cost of $119,000 as follows.
Direct
materials

estimated machine hours for the upcoming year. Data for the
upcoming year
appear below.
Estimated machine hours 75,000
Estimated variable manufacturing
overhead $4.50 per machine hour
Estimated total fixed manufacturing
overhead $825,000
The actual machine hours for the year turned out to be 77,000.
Required:
Compute the company's predetermined overhead rate.
Set 2
1. (TCO C) Madlem, Inc., produces and sells a single product whose
selling price is $120.00 per unit and whose variable expense is $46.20
per unit. The company's fixed expense is $405,900 per month.
Required: Determine the monthly breakeven in either unit or total
dollar sales. Show your work! (Points : 25)
Question 2.2. (TCO B) Industrial Supply Corporation uses the
weighted-average method in its process costing system. Data
concerning the first processing department for the most recent month
are listed below.
Materials costs $6,900
Conversion costs $2,500
Required: Calculate the equivalent units for conversion for the month
in the first processing department. (Points : 25)
Question 1.1. (TCO D) The following absorption costing income
statement and additional data are available from the accounting
records of Bernon Co. for the month ended May 31, XXXX. During
the accounting period, 17,000 units were manufactured and sold at a
price of $60 per unit. There were no beginning inventories.
Bernon Co.
Absorption Costing Income Statement

Question 2.2. (TCO I) (Ignore income taxes in this problem.) Simpson
Beauty Products Corporation is considering the production of a new
conditioning shampoo that will require the purchase of new mixing
machinery. The machinery will cost $700,000, is expected to have a
useful life of 10 years, and is expected to have a salvage value of
$70,000 at the end of 10 years. The machinery will also need a
$45,000 overhaul at the end of Year 5. A $60,000 increase in working
capital will be needed for this investment project. The working capital
will be released at the end of the 10 years. The new shampoo is
expected to generate net cash inflows of $150,000 per year for each of
the 10 years. Simpson's discount rate is 18%.
Items Year(s) Amount 18% Factor Present Value
Cost of machinery Now ($700,000) 1 ($700,000)
Working capital increase Now ($60,000) 1
($60,000)
Annual cash inflows 1–10 $150,000 4.494 674,100
Overhaul 5 ($45,000) 0.437 ($19,665)
Salvage value 10 $70,000 0.191 13,370
Working capital release 10 $60,000 0.191 11,460
Net present value ($80,735)
Work-in-process inventory, beginning 120
Work-in-process inventory, ending 150
Finished goods inventory, beginning 80
Finished goods inventory, ending 120
Use the above data to prepare (in thousands of dollars) a schedule of
Cost of Goods Manufactured and a Schedule of Cost of Goods Sold
for the year. In addition, what is the impact on the financial
statements if the ending finished goods inventory is overstated or
understated? (Points : 25)
Question 4.4. (TCO F) Walker Corporation is preparing its cash
budget for November. The budgeted beginning cash balance is
$43,000. Budgeted cash receipts total $117,000 and budgeted cash
disbursements total $122,000.The desired ending cash balance is

$55,000. The company can borrow up to $100,000 at any time from a
local bank, with interest not due until the following month.
Required:
Prepare the company's cash budget for November in good form. Make
sure to indicate what borrowing, if any, would be needed to attain the
desired ending cash balance(Points : 25)
Question 5.5. (TCO F) The following overhead data are for a
department of a large company.
Actual Costs Incurred Static Budget
Activity level (in units) 360 340
Required: Construct a flexible budget performance report that would
be useful in assessing how well costs were controlled in this
department. (Points : 25)
manufacturing overhead was $7.25 per labor hour and the estimated
total fixed manufacturing overhead was $585,000. The actual labor
hours for the year turned out to be 33,000.
==============================================
www.acct505help.com
Score 248/250 Multiple Choice 2 Short 2 Essay 7
Question 1 : (TCO E) Designing a new product is a(n)
2. Question : (TCO G) Given the following data, what would ROI be?
Sales $70,000

1. Question : (TCO C) Longiotti Corporation produces and sells a
single product. Data
concerning that product appear below.
Fixed expense per month $1,686,300
Required:
Determine the monthly breakeven in units or dollar sales. Show your
work!
2. Question : (TCO B) Maverick Corporation uses the weighted-
average method in its
process costing system. Data concerning the first processing
department for
the most recent month are listed below.
Percent complete for materials 80%
Percent complete for conversion 15%
Units started into production during the month 6,000
Units transferred to the next department during the month 5,600
Materials costs added during the month $112,500
Conversion costs added during the month $210,300
1. Question : (TCO D) Topple Company produces a single product.
Operating data for the
company and its absorption costing income statement for the last year
are
presented below.
Units in beginning inventory 2,000
Units produced 9,000
Compute the company's predetermined overhead rate.
==============================================

www.acct505help.com
Set 2
1. (TCO C) Madlem, Inc., produces and sells a single product whose
selling price is $120.00 per unit and whose variable expense is $46.20
per unit. The company's fixed expense is $405,900 per month.
Required: Determine the monthly breakeven in either unit or total
dollar sales. Show your work! (Points : 25)
Question 2.2. (TCO B) Industrial Supply Corporation uses the
weighted-average method in its process costing system. Data
concerning the first processing department for the most recent month
are listed below.
Units started into production during the month 6,000
Units transferred to the next department during the month 5,200
Materials costs added during the month $112,500
Conversion costs added during the month $210,300
Ending work in process:
Units in ending work-in-process inventory 1,200
Percentage complete for materials 75%
Percentage complete for conversion 30%

Required: Calculate the equivalent units for conversion for the month
in the first processing department. (Points : 25)
Question 1.1. (TCO D) The following absorption costing income
statement and additional data are available from the accounting
records of Bernon Co. for the month ended May 31, XXXX. During
the accounting period, 17,000 units were manufactured and sold at a
price of $60 per unit. There were no beginning inventories.
Bernon Co.
Required: Compute the company's predetermined overhead rate.
(Points : 25)
==============================================
www.acct505help.com
(TCO E) Preparing purchase orders is a(n) (Points : 5)
batch-level activity.
product-level activity.
unit-level activity.
organization sustaining activity.
2. (TCO G) Given the following data, what would ROI be?
Sales $70,000
(Points : 5)
28.6%
20.0%
40.0%
50.0%

3. (TCO C) Heckaman Corporation produces and sells a single
product. Data concerning that product appear below.
Fixed expense per month $299,115
4. TCO B) Industrial Supply Corporation uses the weighted-average
method in its process costing system. Data concerning the first
processing department for the most recent month are listed below.
5. (TCO D) Topple Company produces a single product. Operating
data for the company and its absorption costing income statement for
the last year are presented below.
Units in beginning inventory 0
Units produced 9,000
Units sold 7,000
Sales $100,000
Variable manufacturing costs are $4 per unit. Fixed manufacturing
overhead totals $18,000 for the year. The fixed manufacturing
overhead was applied at a rate of $2 per unit. Variable selling and
administrative expenses were $1 per unit sold.
Required: Prepare a new income statement for the year using variable
costing. Comment on the differences between the absorption costing
and the variable costing income statements. (Points : 30)
6. (TCO I) (Ignore income taxes in this problem.) Simpson Beauty
Products Corporation is considering the production of a new

conditioning shampoo that will require the purchase of new mixing
machinery. The machinery will cost $700,000, is
Required:
Part A: What is the net present value of this investment opportunity?
Part B: Based on your answer to (a) above, should Simpson go ahead
with the new conditioning shampoo? (Points : 30)
PART B:
Simpson should not go ahead and purchase the shampoo machine
since the NPV is negative.
7. (TCO A) The following data (in thousands of dollars) have been
taken from the accounting records of Karmana Corporation for the
just-completed year.
8. (TCO F) Matuseski Corporation is preparing its cash budget for
October. The budgeted beginning cash balance is $54,000. Budgeted
cash receipts total $127,000 and budgeted cash disbursements total
$99,000. The desired ending cash balance is $100,000. The company
can borrow up to $150,000 at any time from a local bank, with
interest not due until the following month.
Required: Prepare the company's cash budget for October in good
form. Make sure to indicate what borrowing, if any, would be needed
to attain the desired ending cash balance. (Points : 25)
9. (TCO F) Bella Lugosi Holdings, Inc. (BLH), has collected the
following operating information for its current month's activity. Using
this information, prepare a flexible budget analysis to determine how
well BLH performed in terms of cost control.
Actual Costs Incurred Static Budget
Activity level (in units) 5,250 5,178
Variable costs:
Indirect materials $24,182 $23,476
Utilities $22,356 $22,674
Fixed costs:
Administration $63,450 $65,500
Rent $65,317 $63,904

(Points : 25)
10. (TCO H) Lindon Company uses 10,000 units of Part Y each year
as a component in the assembly of one of its products. The company
is presently producing Part Y internally at a total cost of $100,000 as
follows.
Direct materials............................................... $20,000
Direct labor...................................................... 40,000
Variable manufacturing overhead...................... 16,000
Fixed manufacturing overhead.......................
24,000
Total costs.......................................................100,000
An outside supplier has offered to provide Part Y at a price of $10 per
unit. If Lindon stops producing the part internally, one third of the
fixed manufacturing overhead would be eliminated.
11. (TCO B) Wahr Corporation bases its predetermined overhead rate
on the estimated labor hours for the upcoming year. At the beginning
of the most recently completed year, the company estimated the labor
hours for the upcoming year at 35,000. The estimated variable
manufacturing overhead was $7.25 per labor hour and the estimated
total fixed manufacturing overhead was $585,000. The actual labor
hours for the year turned out to be 33,000.
==============================================
ACCT 505 Midterm Exam (New) 6 Sets
www.acct505help.com
This Tutorial contains 6 Sets of Midterm Exam
1. (TCO A) Direct material cost is a part of (Points : 6)
Conversion Cost NO.... Prime Cost NO.
Conversion Cost YES.... Prime Cost NO.

Conversion Cost YES.... Prime Cost YES.
Conversion Cost NO.... Prime Cost YES.
Question 2.2. (TCO A) Total fixed costs (Points : 6)
will increase with increases in activity.
will decrease with increases in activity.
are not affected by activity.
should be ignored in making decisions because they can never
change.
Question 3.3. (TCO A) Property taxes on a company's factory
building would be classified as a(n) (Points : 6)
variable cost.
opportunity cost.
period cost.
product cost.
Question 4.4. (TCO C) When the activity level is expected to increase
within the relevant range, what effects would be anticipated with
respect to each of the following? (Points : 6)
Fixed costs per unit decrease and variable costs per unit do not
change.
Fixed costs per unit increase and variable costs per unit do not
change.
Fixed costs per unit do not change and variable costs per unit do
not change.
Fixed costs per unit do not change and variable costs per unit
increase.
Question 5.5. (TCO B) Which of the following statements is true?
I. Overhead application may be made slowly as a job is worked on.
II. Overhead application may be made in a single application at the
time of completion of the job.
III. Overhead application should be made to any job not completed at
year end in order to properly value the work in process inventory.
(Points : 6)
Only statement I is true.
Only statement II is true.
Both statements I and II are true.
Statements I, II, and III are true.

Question 6.6. (TCO B) Under a job-order costing system, the product
being manufactured (Points : 6)
is homogeneous.
passes from one manufacturing department to the next before
being completed.
can be custom manufactured.
has a unit cost that is easy to calculate by dividing total
production costs by the units produced.
Question 7.7. (TCO F) Equivalent units for a process costing system
using the FIFO method would be equal to (Points : 6)
units completed during the period, plus equivalent units in the
ending work-in-process inventory.
units started and completed during the period, plus equivalent
units in the ending work-in-process inventory.
units completed during the period and transferred out.
units started and completed during the period, plus equivalent
units in the ending work-in-process inventory, plus work needed to
complete units in the beginning work-in-process inventory.
Question 8.8. (TCO C) The contribution margin equals (Points : 6)
sales - expenses.
sales - variable costs.
sales - cost of goods sold.
sales - fixed costs.
Question 9.9. (TCO C) Which of the following would not affect the
break-even point? (Points : 6)
Variable expense per unit
Number of units sold
Total fixed expenses
Selling price per unit
Question 10.10. (TCO D) Under variable costing, (Points : 6)
inventory costs will be lower than under absorption costing.
inventory costs will be higher than under absorption costing.
net operating income will always be lower than under
absorption costing.
net operating income will always be higher than under
absorption costing.

1. (TCO A) The following data (in thousands of dollars) have been
taken from the accounting records of Larop Corporation for the just-
completed year.
Sales $950
Purchases of raw materials $225
Direct labor $250
Manufacturing overhead $295
Administrative expenses $150
Selling expenses $140
Raw materials inventory, beginning $30
Raw materials inventory, ending $45
Work-in-process inventory, beginning $20
Work-in-process inventory, ending $55
Finished goods inventory, beginning $100
Finished goods inventory, ending $135
Prepare a Schedule of Cost of Goods Manufactured statement in the
text box below. (Points : 15)
Schedule of cost of goods manufactured
Direct materials:
Question 2.2. (TCO B) The Nebraska Company manufactures a
product that goes through three processing departments. Information
relating to activity in the first department during June is given below.
Percentage Completed
Units Materials Conversion
Work in process, June 1 140,000 65% 45%
Work in process, Jun 30 120,000 75% 65%
The department started 580,000 units into production during the
month and transferred 600,000 completed units to the next
department.
Question 3.3. (TCO C) A tile manufacturer has supplied the following
data.
Boxes of tile produced and sold 625,000
Sales revenue $2,975,000
Variable manufacturing expense $1,720,000

Fixed manufacturing expense $790,000
Variable selling and admin expense $152,000
Fixed selling and admin expense $133,000
Question 4.4. (TCO D) The Hampton Company produces and sells a
single product. The following data refer to the year just completed.
Selling price $450
Fixed costs:
Fixed manufacturing overhead $275,000
Fixed selling and admin $200,000
==============================================
www.acct505help.com
Score 144/150 Multiple Choice 10 Essay 4
1. (TCO A) Direct material cost is a part of (Points : 6)
Conversion Cost NO.... Prime Cost NO.
Conversion Cost YES.... Prime Cost NO.
Conversion Cost YES.... Prime Cost YES.
Conversion Cost NO.... Prime Cost YES.
Question 2.2. (TCO A) Total fixed costs (Points : 6)
will increase with increases in activity.
will decrease with increases in activity.
are not affected by activity.
should be ignored in making decisions because they can never
change.

Question 3.3. (TCO A) Property taxes on a company's factory
building would be classified as a(n) (Points : 6)
variable cost.
opportunity cost.
period cost.
product cost.
Prepare an income statement for the year using variable costing.
(Points : 30)
Extra questions
==============================================
www.acct505help.com
Multiple Choice 10 9
Essay 4
Question 1. Question : (TCO A) The variable portion of
advertising costs is a
Student Answer: Conversion YES... Period NO.
Conversion YES .... Period YES.
Conversion NO.... Period NO.
Conversion NO.... Period YES.
Question 2. Question : (TCO A) A cost incurred in the past
that is not relevant to any current decision is classified as a(n)

Student Answer: period cost.
incremental cost.
opportunity cost.
None of the above
Fixed costs:
Fixed manufacturing overhead $275,000
Fixed selling and admin $200,000
==============================================
ACCT 505 Week 1 Case Study (Devry)
www.acct505help.com
Top Switch Inc. designs and manufactures switches used in
telecommunications. Serious flooding throughout the state of
Tennessee affected Top Switch’s facilities. Inventory was completely
ruined, and the company’s computer system, including all accounting
records, was destroyed.
Before the unfortunate incident, recovery specialists cleaned the
buildings. The company controller is very nervous and anxious to
recover whatever records he can to support the insurance claim for the
destroyed inventory. After consulting with the cost accountant, they
decide to retrieve the previous year’s annual report for the beginning
inventory numbers. In addition, they also agreed that they need first
quarter cost data.
The cost accountant was working on the first quarter results before the
storm hit, and to his surprise, the report was still in his desk drawer.

After reviewing the data , the information shows the following
information: Material purchases were $ 325,000; Direct Labor was $
220,000. Further discussions between the controller and the cost
accountant revealed that sales were $ 1,350,000 and the gross margin
was 30% of sales. The cost accountant also discovered, while sifting
through the information, that cost of goods available for sale was $
1,020,000 at cost. While assessing the damage, the controller
determined that the prime costs were $ 545,000 up to the time of the
damage and that manufacturing overhead is 65% of conversion cost.
The cost accountant is not sure about all of this, but he decides to see
what he can do with the information.
A quality project will meet or exceed all of the above requirements.
==============================================
ACCT 505 Week 1-7 All Discussion Questions (Devry)
www.acct505help.com
Week 1DQ 1 Cost Terms, Classifications, and Behavior
Week 1DQ 2 Research and Application
Week 2DQ 1 Job Order and Process Costing Systems
Week 3DQ 1 Variable Costing and CVP Concepts
Week 4DQ 1 Budgeting Case Study
Week 4DQ 2 Exam Review
Week 5DQ 1 Standards, Variances, Flexible Budgets
Week 6DQ 1 Segment Reporting and Relevant Costs
Week 7DQ 1 Capital Budgeting
Week 7DQ 2 Exam Review
==============================================

ACCT 505 Week 2 Case 3-29 Ethics and the Manager
www.acct505help.com
CASE 3–29 Ethics and the Manager [Course Objective B] Terri
Ronsin had recently been transferred to the Home Security Systems
Division of National Home Products. Shortly after taking over her
new position as divisional controller, she was asked to develop the
division’s predetermined overhead rate for the upcoming year. The
accuracy of the rate is important because it is used throughout the
year and any overapplied or underapplied overhead is closed out to
Cost of Goods Sold at the end of the year. National Home Products
uses direct labor-hours in all of its divisions as the allocation base for
manufacturing overhead.
To compute the predetermined overhead rate, Terri divided her
estimate of the total manufacturing overhead for the coming year by
the production manager’s estimate of the total direct labor-hours for
the coming year. She took her computations to the division’s general
manager for approval but was quite surprised when he suggested a
modification in the base. Her conversation with the general manager
of the Home Security Systems Division, Harry Irving, went like this:
Ronsin: Here are my calculations for next year’s predetermined
overhead rate. If you approve, we can enter the rate into the computer
on January 1 and be up and running in the job-order costing system
right away this year.
Irving: Thanks for coming up with the calculations so quickly, and
they look just fine. There is, however, one slight modification I
would like to see. Your estimate of the total direct labor-hours for the
year is 440,000 hours. How about cutting that to about 420,000
hours?
Ronsin: I don’t know if I can do that. The production manager says
she will need about 440,000 direct labor-hours to meet the sales
projections for the year. Besides, there are going to be over 430,000

direct labor-hours during the current year and sales are projected to be
higher next year.
4. NOTE: as a team project, a team collaboration tool (such as Cisco
Spark) should be used for the students to collaborate on the project!
==============================================
ACCT 505 Week 2 Quiz Job Order and Process Costing
Systems (Devry)
www.acct505help.com
1.
Question :
(TCO F) For which situation(s) below would an organization be more
likely to use a job-order costing system of accumulating product costs
rather than a process costing system?
2.
Question :
(TCO F) Process costing would be appropriate for each of the
following except:
3.
Question :
(TCO F) Lucas Company uses the weighted-average method in its
process costing system. The company adds materials at the beginning
of the process in the Forming Department, which is the first of two
stages in its production process. Information concerning operations in
the Forming Department in October follows:
Units
Material Cost
Work in process on October 1
6,000
$3,000
Units started in October

50,000
$25,560
Units completed and transferred to next Department during October
44,000
What was the materials cost of work in process at on October 31?
4.
Question :
(TCO F) In a job-order costing system, the use of direct materials that
have been previously purchased is recorded as a debit to:
5.
Question :
(TCO F) During December at Ingrim Corporation, $74,000 of raw
materials were requisitioned from the storeroom for use in production.
These raw materials included both direct and indirect materials. The
indirect materials totaled $6,000. The journal entry to record the
requisition from the storeroom would include a:
6.
Question :
(TCO F) Valles Corporation had $22,000 of raw materials on hand on
February 1. During the month, the company purchased an additional
$75,000 of raw materials. The journal entry to record the purchase of
raw materials would include a:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of
Cost of Goods Sold in good form.
==============================================
www.acct505help.com
Essay 4
Multiple Choice 6
Question 1. Question : (TCO B) Assume there is no beginning
work in process inventory and the ending work in process inventory is

100% complete with respect to materials costs. The number of
equivalent units with respect to materials costs under the weighted
average method is
Student Answer: the same as the number of units
completed.
less than the number of units put into
production.
the same as the number of units put into
production.
less than the number of units completed.
Question 2. Question : (TCO B) For which situation(s) below
would an organization be more likely to use a job-order costing
system of accumulating product costs rather than a process costing
system?
Student Answer: A steel factory that processes
iron ore into steel bars
A computer consulting firm
A factory that processes sugar and other
ingredients into candy
All of the above
Question 3. Question : (TCO B) Luft Company uses the
weighted-average method in its process costing system. Operating
data for the first processing department for the month of June appear
below.
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of
Cost of Goods Sold in good form.
==============================================

ACCT 505 Week 3 Case Study 4–20 Ethics and the Manager
www.acct505help.com
CASE 4–20 Ethics and the Manager, Understanding the Impact of
Percentage Completion on Profit—Weighted-Average Method
[Course Objective B] Gary Stevens and Mary James are production
managers in the Consumer Electronics Division of General
Electronics Company, which has several dozen plants scattered in
locations throughout the world. Mary manages the plant located in
Des Moines, Iowa, while Gary manages the plant in El Segundo,
California. Production managers are paid a salary and get an
additional bonus equal to 5% of their base salary if the entire division
meets or exceeds its target profits for the year. The bonus is
determined in March after the company’s annual report has been
prepared and issued to stockholders.
Shortly after the beginning of the New Year, Mary received a phone
call from Gary that went like this:
Gary: How’s it going, Mary?
Mary: Fine, Gary. How’s it going with you?
Gary: Great! I just got the preliminary profit figures for the division
for last year and we are within $200,000 of making the year’s target
profits. All we have to do is pull a few strings, and we’ll be over the
top!
3. Do you think Mary James should go along with the request to
alter estimates of the percentage completion? Why or why not?
==============================================
ACCT 505 Week 3 Case Study II (Devry)
www.acct505help.com

Springfield Express is a luxury passenger carrier in Texas. All seats
are first class, and the following data are available:
Number of seats per passenger train car
90
Average load factor (percentage of seats filled)
70%
Average full passenger fare
$160
Average variable cost per passenger
$70
Fixed operating cost per month
$3,150,000
What is the break-even point in passengers and revenues per month?
What is the break-even point in number of passenger train cars per
month? If Springfield Express raises its average passenger fare to $
190, it is estimated that the average load factor will decrease to 60
percent. What will be the monthly break-even point in number of
passenger cars? (Refer to original data.) Fuel cost is a significant
variable cost to any railway. If crude oil increases by $ 20 per barrel,
it is estimated that variable cost per passenger will rise to $ 90. What
will be the new break-even point in passengers and in number of
passenger train cars? Springfield Express has experienced an increase
in variable cost per passenger to $ 85 and an increase in total fixed
cost to $ 3,600,000. The company has decided to raise the average
fare to $ 205. If the tax rate is 30 percent, how many passengers per
month are needed to generate an after-tax profit of $ 750,000? (Use
original data). Springfield Express is considering offering a
discounted fare of $ 120, which the company believes would increase
the load factor to 80 percent. Only the additional seats would be sold
at the discounted fare. Additional monthly advertising cost would be $
180,000.
A quality project will meet or exceed all of the above requirements.
==============================================
ACCT 505 Week 4 Midterm Exam (Devry)

www.acct505help.com
1.
Question :
(TCO A) Wages paid to an assembly line worker in a factory are a
2.
Question :
(TCO A) A cost incurred in the past that is not relevant to any current
decision is classified as a(n)
3.
Question :
(TCO A) Depreciation of office buildings and office equipment is
also known as
4.
Question :
(TCO A) When the activity level is expected to increase within the
relevant range, what effects would be anticipated with respect to each
of the following?
5.
Question :
(TCO F) Which of the following statements is true?
I. Overhead application may be made slowly as a job is worked on.
II. Overhead application may be made in a single application at the
time of completion of the job.
III. Overhead application should be made to any job not completed at
year end in order to properly value the work in process inventory.
6.
Question :
(TCO F) A job-order cost system is employed in those situations
where
7.
Question :
(TCO F) The FIFO method only provides a major advantage over the
weighted-average method in that

8.
Question :
(TCO B) The contribution margin ratio always decreases when the
d. Prepare an income statement for the month using the absorption
costing method.
==============================================
ACCT 505 Week 5 Course Project 1 LBJ Company (New)
www.acct505help.com
COURSE PROJECT 1 INSTRUCTIONS
You have just been contracted as a budget consultant by LBJ
Company, a distributor of bracelets to various retail outlets across the
country. The company has done very little in the way of budgeting
and at certain times of the year has experienced a shortage of cash.
You have decided to prepare a cash budget for the upcoming fourth
quarter in order to show management the benefits that can be gained
from proper cash planning. You have worked with accounting and
other areas to gather the information assembled below.
The company sells many styles of bracelets, but all are sold for the
same $10 price. Actual sales of bracelets for the last three months
and budgeted sales for the next six months follow:
The concentration of sales in the fourth quarter is due to the
Christmas holiday. Sufficient inventory should be on hand at the end
of each month to supply 40% of the bracelets sold in the following
month.
Suppliers are paid $4 for each bracelet. Fifty-percent of a month's
purchases is paid for in the month of purchase; the other 50% is paid
for in the following month. All sales are on credit with no discounts.
The company has found, however, that only 20% of a month's sales
are collected in the month of sale.

2. A cash budget. Show the budget by month and in total. Determine
any borrowing that would be needed to maintain the minimum cash
balance of $50,000.
==============================================
ACCT 505 Week 6 Case Study Balanced Scorecard Case
(700 words Paper)
www.acct505help.com
ACCT505 – Managerial Accounting
Team Case Study 3 – Week 6
Balanced Scorecard Case
(Course Objective G)
Many companies are using the Balanced Scorecard System to assist in
their performance management. According to Garrison, Noreen, and
Brewer (2015) a balanced scorecard “consists of integrated set of
performance measures that are derived from and support a company’s
strategy” (p. 490). In a Balanced Scorecard System the company’s
strategy is translated into a system of performance measures that are
used to monitor the company’s performance in meeting its strategic
objectives.
As part of a two-member team, your task is to identify and discuss the
key performance measures of a balanced scorecard. Then, find three
companies that are currently using a Balanced Scorecard System by
doing an internet and library database search. Internet searches as well
searches of financial databases, such as Yahoo Finance, should help
you in your efforts. Then discuss in as much detail as possible the
specifics of the balanced scorecard that is being used by these
companies.
Deliverable
Your team should prepare a 700 words Paper, explaining the specifics
of the balanced scorecard system of the three companies you selected

in your research. This presentation should include your analysis of the
advantages and disadvantages of each company’s Balanced Scorecard
System. Be sure to clearly document the performance measures being
used by each of the three companies.
Your PowerPoint presentation should be narrated using Voice Thread
or similar technology. All team members must participate in the
narration of the PowerPoint presentation.
APA standards are required to be followed for this presentation.
Reference
Garrison, R.H., Noreen, E.C, & Brewer, Brewer, P.C. (2015).
Managerial Accounting (15th ed.). New York, NY: McGraw-Hill.
==============================================
ACCT 505 Week 6 Quiz Segment Reporting and Relevant
Costs for Decisions (Devry)
www.acct505help.com
Question :
(TCO D) Return on investment (ROI) is equal to the margin
multiplied by
2.
Question :
(TCO D) For which of the following decisions are opportunity costs
relevant?
The decision to make or buy a needed part
The desision to keep or drop a product line
(A)
Yes
Yes
(B)
Yes
No

(C)
No
Yes
(D)
No
No
3.
Should the company accept this special order? Why?
==============================================
www.acct505help.com
Multiple Choice 3
Short 5
Question 1. Question : (TCO D) Return on investment (ROI)
is equal to the margin multiplied by
Question 2. Question : (TCO D) For which of the following
decisions are opportunity costs relevant?
The decision to make or buy a needed part The decision to
keep or drop a product line
Question 3. Question : (TCO D) Last year, the House of
Orange had sales of $826,650, net operating income of $81,000, and
operating assets of $84,000 at the beginning of the year and $90,000
at the end of the year. What was the company's turnover, rounded to
the nearest tenth?
Question 1. Question : (TCO D) Data for December
concerning Dinnocenzo Corporation's two major business segments-
Fibers and Feedstocks-appear below.
Sales revenues, Fibers $870,000

Sales revenues, Feedstocks $820,000
Variable expenses, Fibers $426,000
Variable expenses, Feedstocks $344,000
Traceable fixed expenses, Fibers $148,000
Traceable fixed expenses, Feedstocks $156,000
Common fixed expenses totaled $314,000 and were allocated as
follows: $129,000 to the Fibers business segment and $185,000 to the
Feedstocks business segment.
Required:
Prepare a segmented income statement in the contribution format for
the company. Omit percentages; show only dollar amounts.
Question 2. Question : (TCO D) Wryski Corporation had net
operating income of $150,000 and average operating assets of
$500,000. The company requires a return on investment of 19%.
Required:
i. Calculate the company's current return on investment and residual
income.
ii. The company is investigating an investment of $400,000 in a
project that will generate annual net operating income of $78,000.
What is the ROI of the project? What is the residual income of the
project? Should the company invest in this project?
ii. Return on investment = Net operating income / Average operating
assets = $78,000 / $400,000 = 19.5%
Question 3. Question : (TCO D) Tjelmeland Corporation is
considering dropping product S85U. Data from the company's
accounting system appear below.
Determine the effect on the company's total net operating income of
accepting the special order. Show your work!
==============================================

ACCT 505 Week 7 Course Project 2 Capital Budgeting
Decision (New)
www.acct505help.com
ACCT 505 Course Project 2 Hampton Company
Capital Budgeting Decision
Hampton Company: The production department has been
investigating possible ways to trim total production costs. One
possibility currently being examined is to make the cans instead of
purchasing them. The equipment needed would cost $1,000,000, with
a disposal value of $200,000,and would be able to produce
27,500,000 cans over the life of the machinery. The production
department estimates that approximately 5,500,000 cans would be
needed for each of the next 5 years.
The company would hire six new employees. These six individuals
would be full-time employees working 2,000 hours per year and
earning $15.00 per hour. They would also receive the same benefits as
other production employees, 15% of wages in addition to $2,000 of
health benefits.
It is estimated that the raw materials will cost 30¢ per can and that
other variable costs would be 10¢ per can. Because there is currently
unused space in the factory, no additional fixed costs would be
incurred if this proposal is accepted.
Why or why not? Prepare a short, double-spaced paper in MS Word
elaborating on and supporting your answers.
==============================================

ACCT 505 HELP Education Planning--acct505help.com

Recommended

Recommended

More Related Content

What's hot

What's hot (16)

Similar to ACCT 505 HELP Education Planning--acct505help.com

Similar to ACCT 505 HELP Education Planning--acct505help.com (7)

Recently uploaded

Recently uploaded (20)

ACCT 505 HELP Education Planning--acct505help.com