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ACC 349 Week 4 Connect Assignment

ACC 349 Week 4 Connect Assignment PLDZ-10395
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  ---------------------------------------------------------------------------------------------------------ACC 349 Week 4 Connect Assignment
Access Connect.
Complete the Week 4 Problems.
1.
Award: 10 out of 10.00 points
Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company’s planning budget for May appears below:
Puget Sound Divers
Planning Budget
For the Month Ended May 31
Budgeted diving-hours (q) 350
Revenue ($480.00q) $ 168,000

Expenses:
Wages and salaries ($11,900 + $120.00q) 53,900
Supplies ($4.00q) 1,400
Equipment rental ($2,200 + $23.00q) 10,250
Insurance ($3,900) 3,900
Miscellaneous ($540 + $1.48q) 1,058

Total expense 70,508

Net operating income $ 97,492

Required:
During May, the company’s activity was actually 340 diving-hours. Complete the following flexible budget for that level of activity.
2.
Award: 10 out of 10.00 points
Flight Café is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company’s planning budget for July appears below:
Flight Café
Planning Budget
For the Month Ended July 31

Budgeted meals (q) 23,000
Revenue ($4.10q) $ 94,300

Expenses:
Raw materials ($2.10q) 48,300
Wages and salaries ($6,400 + $0.20q) 11,000
Utilities ($2,100 + $0.05q) 3,250
Facility rent ($3,600) 3,600
Insurance ($3,000) 3,000
Miscellaneous ($500 + $0.10q) 2,800

Total expense 71,950

Net operating income $ 22,350
In July, 24,000 meals were actually served. The company’s flexible budget for this level of activity appears below:
Flight Café
Flexible Budget

For the Month Ended July 31

Budgeted meals (q) 24,000
Revenue ($4.10q) $ 98,400

Expenses:
Raw materials ($2.10q) 50,400
Wages and salaries ($6,400 + $0.20q) 11,200
Utilities ($2,100 + $0.05q) 3,300
Facility rent ($3,600) 3,600
Insurance ($3,000) 3,000
Miscellaneous ($500 + $0.10q) 2,900

Total expense 74,400

Net operating income $ 24,00
Required:
1. Compute the company’s activity variances for July. (Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Input all amounts as positive values.)
3.
Award: 10 out of 10.00 points
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,600 pounds of oysters in August. The company’s flexible budget for August appears below:
Quilcene Oysteria
Flexible Budget

For the Month Ended August 31

Actual pounds (q) 7,600
Revenue ($4.20q) $ 31,920

Expenses:
Packing supplies ($0.40q) 3,040
Oyster bed maintenance ($3,200) 3,200
Wages and salaries ($2,300 + $0.40q) 5,340
Shipping ($0.65q) 4,940
Utilities ($1,250) 1,250
Other ($410 + $0.01q) 486

Total expense 18,256

Net operating income $ 13,664

The actual results for August appear below:
Quilcene Oysteria
Income Statement

For the Month Ended August 31

Actual pounds 7,600
Revenue $ 26,800

Expenses:
Packing supplies 3,210
Oyster bed maintenance 3,060
Wages and salaries 5,750
Shipping 4,670
Utilities 1,060
Other 1,106

Total expense 18,856

Net operating income $ 7,944

Required:
Compute the company’s revenue and spending variances for August. (Indicate the effect of each variance by selecting “F” for favorable, “U” for unfavorable, and “None” for no effect (i.e., zero variance). Input all amounts as positive values.)
4.

Award: 10 out of 10.00 points

Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below:


Division
Queensland New South Wales
Sales $ 1,144,000 $ 2,220,000
Average operating assets $ 520,000 $ 600,000
Net operating income $ 125,840 $ 177,600
Property, plant, and equipment (net) $ 252,000 $ 202,000
Required:
1. Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover. (Round your answers to 2 decimal places.)
2. Which divisional manager seems to be doing the better job?

5.

In business, a budget is a method for putting a limit on spending.

True

False
6.

Fixed costs should be included in a flexible budget even though they do not change when the level of activity changes.

True

False

7.

A balanced scorecard should not contain any performance measures concerning customer satisfaction since the extent to which customers are satisfied is beyond the control of any manager in the company.

True

False

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