Case Study I Materials purchased $325‚000 Direct Labor $220‚000 Sales $1‚350‚000 Gross Margin 30% Cost of Goods Available for Sale $1‚020‚000 Prime Costs $545‚000 Manufacturer Overhead 65% of Conversion cost Direct Materials $325‚000 Beginning Inventory numbers: Raw Materials $41‚000 Works in Process $56‚000 Finished Goods $35‚000 Formulas: Prime cost = Direct Materials cost + Direct Labor cost Conversion cost = Direct Labor cost
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Case 1: Sunrise bank recently appointed the accounting firm Smith‚ Godfroy‚ and Hannaford as the bank’s auditor. Sunrise quickly became one of Smith‚ Godfroy‚ and Hannaford’s largest clients. Subject to banking regulations‚ Sunrise must provide for any expected losses on notes receivable that Sunrise may not collect in full. During the course of the audit‚ Smith‚ Godfroy‚ and Hannaford determined that three large notes receivable of Sunrise seem questionable. Smith‚ Godfroy‚ and Hannaford discussed
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No they should not Contribution margin = $175 - $70 or $105 per passenger 90X .60 = 54 seats 54 X $105 X 20 train cars = $ 113‚400 Incfreased fixed cost (250‚000) Pretax loss on new route $(136‚600) 2) $175X - $70X - $250‚000 = $120‚000 $105 X = $370‚000 X = 3‚524 passengers 3‚524 / 54 = 65 train cars 3) Contribution margin = $105 per passenger 90 X .75 = 67.5 seats 67.5 X $105 X 20 train cars = $141
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Executive summary: Whale fishing‚ also known as whaling‚ is a traditional fishing activity which existing thousands of years in the world. Fisherman fishing whales‚ sell of whale meat and oil to make money. With the development of modern fishing technology‚ industrial fishing gradually replaces a large number of private fishing activities‚ which made whaling easier and more efficient. Greenpeace International’s data showed “Commercial whaling during the last century decimated most of the world’s
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THE PARMALAT SCANDAL The Parmalat situation started out as a fairly standard – although sizeable –accounting fraud. Not even the best auditors could prepare for what was to come from this company. The Parmalat group‚ a world leader in the dairy food business‚ collapsed and entered bankruptcy protection in December 2003 after acknowledging massive holes in its financial statements. This happened when billions of euros seem to have gone missing from the company’s accounts. This dramatic collapse
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Portfolio Project By Jason E Thigpen A Paper Presented in Partial Fulfillment Of The Requirements Of MGMT 505 PROJECT MANAGEMENT FUNDAMENTALS Sep 2011 Summary Silver Fiddle Construction Company has been contracted to build a 2‚500-square foot‚ 2½-bath 3-bedroom finished home for “Bolo” and Izabella Czopek in Grand Junction‚ Colorado in the price range of $450‚000-$500‚000. The project is expected to run from 5 July to 7 November and is expected to meet all local building codes and
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Case Study 2-Internal Controls 2014 ACCT 504 Table of Contents I) Introduction II) Internal Control Requirements-Sarbanes/Oxley Act III) Internal Controls-Strengths IV) Internal Controls-Opportunities for Improvement Introduction It has come to the attention of the president of LJB Company that an evaluation is needed to determine the reliability and level of compliance of the company’s
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Grade 45/50 Managerial Accounting 505 Case Study Week 3 A. What is the break-even point in passengers and revenues per month? Total Per Unit Percent Sales: 160 X 90 $14‚400 $ 160 100% Less variable costs/expenses: .70 X 90 $ 6‚300 $70 44% Contribution margin: $ 8‚100 $90 56% Less fixed costs/expense: $3‚150‚000 Net operating income: $3‚141‚900 8‚100 /14‚400 = 56% 100 - 56 = 44% BEP in passengers
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Case Study.. 2.. KNOW HOW TO RESPOND TO SUSPECTED OR ALLEGED ABUSE. 1. Explain what Actions to take if you have suspicions that Mr & Mrs J is being abused (2.1) It Is my role of duty of care to Safeguard Individuls from harm. All employees should report any concerns of abused they have. These might include evidence or suspicions of bad practice by colleagues and managers‚ Or abuse by another individual‚ Another worker or an individual’s family or friends‚ If you do not work in this way‚ You
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Case Study 2: Johnnie Walker 1. What would be the best way for competition to react to such an internationally successful advertising campaign? In reacting to the advertising campaign‚ the competition has a challenge due to the Johnnie Walker brand already being a well-known and famous brand. As the Johnnie Walker brand is already iconic‚ if a competitive brand were to try and challenge the ‘keep walking’ campaign their efforts may be lost due to overwhelming support of Johnnie Walker. Therefore
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