Course: Managerial Accounting (ACCTG 4B) – Fall 2014 Lab Assignment No: 8 (Chapter 23) Assignment Due Date: 10/30/14 by 6:00AM Instructions Complete the following problems; make sure to include your calculations. Any incomplete work or partially completed will automatically receive zero points. PART I: Herron Company has budgeted the following unit sales: 2008 Units April 25‚000 May 50‚000 June 75‚000 July 45‚000 Of the units budgeted‚ 40% are sold by the Southern Division at an average
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Sales Material costs Direct Labor (DL) 40% fringe on DL Machine time expense Production run expense Setup time expense Administer parts expense Total expense Operating income Return on sales $75‚000.00 $25‚000.00 $10‚000.00 $4‚000.00
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system‚ website‚ and accounts receivable system. The debit/credit system and the website are already automated while the accounts receivable system is currently manual. The debit/credit system records all the expenses of the company‚ may it be capitalization expense or daily operating expense. It also records the sales from the job orders. The website simply advertises the company’s sold units and shows the company site map. The accounts receivable system holds the schedule of payment of the clients
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creating future benefits. A capital expenditure is incurred when a business spends money either to buy fixed assets or to add to the value of an existing fixed asset with a useful life extending beyond the taxable year. Operating expense‚ operating expenditure‚ operational expense‚ operational expenditure or OPEX is an ongoing cost for running a product‚ business‚ or system. As for the True Star Electronics Company‚ we believe the following the accounting treatment would be appropriate. a. CAPEX
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Production Budget: Learning Objective of the article: 1. Define and explain production budget. 2. Prepare a production budget. Definition and Explanation of Production Budget: Theproduction budgetis prepared after thesales budget. Theproduction budgetlists the number of units that must be produced during each budget period to meet sales needs and to provide for the desired ending inventory. Production needs can be determined as follows. | Budgeted sales in units-------------------
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A Sample Feasibility Study1 PET ÉLAN I. DESCRIPTION OF YOUR BUSINESS In recent years‚ there has been an increase in the number of households that have pets‚ especially dogs and cats. Further‚ there is emerging a steadily growing group of pet owners that is willing to purchase upscale‚ unique products for these important members of their family. Pet Élan is an upscale boutique for these discriminating pet owners. Pet Élan will offer highquality pet products to discerning individuals who wish their
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location‚ for example when companies hold a teleconference with several employees located in different branches or when they allow employees to telecommute from home. In some cases‚ this can save companies money because they do not have to pay travel expenses. When employees use technology for telecommuting‚ they can work in the comfort of their home instead of traveling to a workplace. Benefit: Saving Time Technology can decrease the time it takes to accomplish a task‚ which can ultimately save money
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From the Desk of: Imran Omer Case Study: WorldCom From its beginnings as a long distance call player to handler of Internet data traffic‚ WorldCom was a spectacular firework in the sky before it crashed out as one of the biggest bankruptcies America has witnessed in its corporate history. WorldCom carried more international voice traffic than any other company. It carried a large amount of the world‟s Internet traffic. WorldCom owned and operated a global IP (Internet Protocol) backbone that
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relevant educational tax credits and want you to focus just on the deductions. Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit. Business expenses are the cost of carrying on a trade or business. For 2012‚ the standard mileage rate for the cost of operating your car for business use is 551 2 cents per mile. Car expenses and use of the standard mileage rate (26 U.S.C.A. § 162)‚ (26 U.S.C.A. § 170)‚ (Publication
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Concept Application in Business Transactions (A) Chris Chee‚ owner of a business‚ withdrew $2‚000 for his personal trip to Las Vegas. In this case‚ Chris is withdrawing $2‚000 for his personal expenses. Applying the Business Entity Concept‚ Chris’s personal expense cannot be recorded as the business expense as it was not used by the business. Therefore‚ the ‘Drawings’ Account have to be increased (debited) by $2‚000 and the business’s ‘Cash’ Account to be decreased (credited) by $2‚000. (B) A Certified
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