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1. DEVRY ACCT 505 Week 1 Case Study
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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.

2. 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.
The beginning inventory numbers are as follows:
Raw Materials, $ 41,000
Work in Process, $ 56,000
Finished Goods, $ 35,000
Required:
Determine the amount of cost in the Raw
Materials, Work in Process, and Finished Goods
Inventory as of the date of the storm. ( Hint: You

3. may wish to reconstruct the various schedules and
statements that would have been affected by the
company’s accounts during the period.)
Grading Rubric for Case Study I:
Category
Points
%
Description
Documentation &
Formatting
10
22%
Worksheet will be done in Excel and will contain
formulas to receive maximum credit
Organization and Cohesiveness
15
33%
Calculations for all parts should be organized and
correctly labeled.
Content
20
45%
A quality case study will have all required work
completed and will be correct.
Total
45
100%

4. A quality project will meet or exceed all of the
above requirements.