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Part 2: Essay Do you agree or disagree with the following

Customer Question

Part 2: Essay
Do you agree or disagree with the following statement? “Budgeting is an unnecessary burden on many managers and employees. It takes time away from important day to day activities.” Please explain.


Part 6:

Cost of Goods Manufactured
Presented below is selected information from the Greenville Company’s current period accounting
records (in $000s):
Sales $10,000
Raw Materials Used 2,500
Direct Labor Costs 1,000
Period Costs (Selling and Administrative) 2,500
Beginning Raw Material Inventory 300
Ending Raw Material Inventory 1,000
Net Income 200
Beginning Work-in-Process Inventory 0
Ending Work-in-Process Inventory 300
Beginning Finished Goods Inventory 700
Ending Finished Goods Inventory 400
* NOTE: All raw materials used were direct materials.

Required:
Determine the following (in dollars):
a. Raw Material Purchases
b. Gross Profit
c. Cost of Goods Manufactured
d. Manufacturing Overhead

Cash Budgeting
Landis Company has the following sales forecasts for the selected three-month period in the current year:
Month Sales
April $12,000
May 7,000
June 8,000
Seventy percent of sales are collected in the month of the sale, and the remaining balance is collected in the following month.
Accounts Receivable balance (April 1) $10,000
Cash balance (April 1) 5,000
Minimum cash balance is $5,000. Cash can be borrowed in $1,000 increments from the local bank (assume no interest charges). Calculate the expected cash balance at the end of April and May, assuming that cash is received only from customers and that $16,000 is paid out during April and 14,000 is paid out during May.






Part 8:

Use the following information to answer questions 1 and 2.

ShoppingKart, Inc. is a supermarket having three operating departments. An income statement for the most recent month of operations appears below:

General Meat Produce Total

Sales $50,000 $40,000 $10,000 $100,000
Variable Costs 30,000 16,000 5,000 51,000
Contribution Margin 20,000 24,000 5,000 49,000
Fixed Costs
Direct, avoidable (5,000) (4,000) (3,500) (12,500)
Common, Allocated based
on sales dollars (10,000) (8,000) (2,000) (20,000)
Profit (Loss) $ 5,000 $12,000 ($ 500) $16,500


1. If ShoppingKart, Inc. were to drop the produce line and make no other changes to its operations, income for the month would be:

a. $12,000 b. $15,000 c. $16,000 d. $17,000


2. The space currently being used by the produce department could be converted to a deli department. If there were done, sales of the deli are expected to be $20,000 with variable costs of $8,000 and avoidable direct fixed costs of $3,000. Assuming no effects on the general grocery and meat departments, income for the month would be:

a. $23,500 b. $24,000 c. $24,500 d. some other amount
Submitted: 3 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 3 years ago.

Hello and welcome to JA

 

Please note that the amount you are offering is too low for the amount of work required. Please increase your offer to at least $40

 

 

Please advise your deadline as well as the name of the book you are using: Title, author's name, and edition

 

Thank you

Customer: replied 3 years ago.

hello

 

there are two questions you already have them answers on the website.

please i think 35 is enough for those .

 

book name introduction to management accounting chapter 1-17 by:

hornggren, Sundem,Stratton, Burgstahler, and schatzberf

 

the deadline at 12/3/2012

 

thank you

Expert:  Manal Elkhoshkhany replied 3 years ago.

This website has many experts, not because they have been answered by someone this would mean that we do not count them in :)

 

In any case, I will get back to you.

 

 

Please do not respond to this message as this would lock me out of replying
to other posts and cause a delay in getting back to you

Expert:  Manal Elkhoshkhany replied 3 years ago.

Ok, I will post the solutions by the deadline

 

Thank you

Expert:  Manal Elkhoshkhany replied 3 years ago.
THIS ANSWER IS LOCKED!
You can view this answer by clicking here to Register or Login and paying $3.
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Customer: replied 3 years ago.

hello

 

please write more details for question 1 please.

 

 

 

Expert:  Manal Elkhoshkhany replied 3 years ago.
The solution is from the book's solutions manual, the answer is complete and full so I am not sure what more details to write!
Customer: replied 3 years ago.

ok sir I have final question

 

I want the answer right know please:

 

texas instruments makes calculators that sell for 20 each. for the comung year managment expects fixed cost to total 2200000 an VC to be 9 per unit:

compute break-even point in unit and dollar

computethe sales required in dollar to earn net income of 165000

 

Expert:  Manal Elkhoshkhany replied 3 years ago.

I am sorry but this question was not listed on the original post; I can help you with it but you first need to accept the solutions provided to you before posting new questions

 

Thank you

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Manal Elkhoshkhany
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