What is climate and what are the main factors that result in climate? Given the same latitude, why does the west coast of the United States have a vastly different climate than the east coast?

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Discussion#4

What is climate and what are the main factors that result in climate? Given the same latitude, why does the west coast of the United States have a vastly different climate than the east coast?

Instructions: Write a 200-300 word essay answering each of the 5 discussion prompts, each worth 5 points for a total of 25%. Write in complete sentences, use correct punctuation, and follow proper grammar. Essay must be typed, double spaced, 1” margin all around, Times New Roman, and 12-point font. Cite any sources using APA formatting. Each Discussion Question is expected to be answered within one week after posting.

 

Describe the three ethical frameworks for punishment: utilitarianism, deontology, and peacemaking. Which one do you think should serve as the ethical framework for punishment today? Why?

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Correctional system

Apply those concepts to these aspects of the correctional system:

  • Defend or reject the use of capital punishment with one or more of the ethical theories discussed so far in this course.
  • Describe the three ethical frameworks for punishment: utilitarianism, deontology, and peacemaking. Which one do you think should serve as the ethical framework for punishment today? Why?
  • Ethical principles are not as clear-cut for probation officers as they are for police officers. A probation officer must serve as both a mentor to the clients as well as a law enforcer. Discuss the ethical systems that guide the work of a probation officer and describe how they may present the officer with difficulties on the job.

 

Prepare a critical thinking analysis to determine whether the sale of the cottage would be considered business income or a capital gain. If you determine the sale would be a capital gain, then determine whether it would qualify for the principal residence exemption.

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Using MICROSOFT Excel ONLY, respond to the following requirements. All work must be shown to obtain full marks.

Prepare a critical thinking analysis to determine whether the sale of the cottage would be considered business income or a capital gain. If you determine the sale would be a capital gain, then determine whether it would qualify for the principal residence exemption.

Prepare a calculation to determine the best use of the principal residence exemption. Clearly indicate the years designated to each property included in your analysis.

Determine John’s minimum Business Income for 2022.

Determine the minimum Net Income for Tax Purposes and Taxable Income for John, Mary, Dean, Rowena, Crowley and Castiel. Ignore any GST or PST considerations. Show all work, even if the result is zero.

Determine any amounts available for carry forward by the family at the end of 2022.

 

How did BWF use branding, promotion, and customer relationship management to communicate its value proposition? Did a business model based on the circular economy concept help BWF to achieve competitive advantage?

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Strategic Management

Read the case “Better World Fashion: Circular Economy and Competitive Advantage”. In light of the case AND scholarly articles to support your analyses, answer the following questions. Clarifications: only use the case narrative

  1. How did BWF position its products and target its market segments? Explain. [
  2. How did BWF use branding, promotion, and customer relationship management to communicate its value proposition? Did a business model based on the circular economy concept help BWF to achieve competitive advantage?
  3. In order to become a leading fashion brand, what do you recommend BWF do to strengthen its corporate and/or global strategies? Discuss in light of relevant chapters of the textbook.

 

How profitable are the companies in terms of Return on Assets (ROA), Return on Stockholders’ Equity ? Decide whether the companies’ profitabilities are low, medium or high.

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Fortune 100 Project #3

In this project, students will continue their analysis of the two companies chosen. Students need to understand companies’ accounting methods and estimates, and perform common size analysis, ratio analysis, and trend analysis to investigate and compare the companies’ profitability and risks.

Follow the Project#3 lab instructions , perform a comprehensive financial analysis for your two companies.

Write a report for the following questions:

How profitable are the companies in terms of Return on Assets (ROA), Return on Stockholders’ Equity ? Decide whether the companies’ profitabilities are low, medium or high. What has contributed to the profitability, e.g., the decomposition of ROA into Profit Margin of ROA and Asset Turnover, and the decomposition of ROCE into Profit Margin of ROCE, Asset Turnover, and Capital Structure Leverage, as well as further determinations of Profit Margin and Asset Turnover. What are the trends? Comments on the possible reasons for the trends. This analysis may require students to use some benchmarks, for example, comparing with each other and with industry norms , examining the companies’ historical performances, etc. Paste the screenshots of your lab results from Profitability sheet and DuPont sheet to appropriate places in your report. Cite the ratios from your lab results to support your argument.

Do the companies pose any liquidity and solvency risks? Decide whether the companies have low, medium, or high liquidity and solvency risks. What are the trends and possible reasons? What are the most recent bond ratings from the rating agencies including Standard & Poor’s, Moody’s, and Fitch? You would be able to find some other risk factors in the Item 1A of 10K form. You may also link these qualitative risk factors with the financial risk. Whether these risk factors are sustainable or not? Paste the screenshots of your lab results from Liquidity sheet and Financing sheet to appropriate places in your report. Cite the ratios from your lab results to support

 

Reflecting on a company for which you have worked, describe three qualitative factors that would be important for management decision-making. Then, assess each of them in order of importance.

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Portfolio Activity

Qualitative factors are non-financial in nature but are important for management to consider when making decisions. Reflecting on a company for which you have worked (or are otherwise familiar), describe three qualitative factors that would be important for management decision-making. Then, assess each of them in order of importance. Given your assessment, justify a situation where the qualitative factors would outweigh the quantitative results. Be specific.

As portfolio activities are to be self-reflective, make sure to connect the portfolio assignment to:

Your personal experiences. Reflect on how this assignment topic is applicable to and will benefit you.
Course readings and any external readings.

Discussion forum posts or other course objectives.
The Portfolio Activity entry should be a minimum of 500 words and not more than 750 words. Use APA citations and references if you use ideas from the readings or other sources.

Describe the circumstances of the following case study and recommend a course of action. Explain your approach to the problem, perform relevant calculations and analysis, and formulate a recommendation.

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Discussion Essay

Submit a paper which is 2-3 pages in length (no more than 3-pages), exclusive of the reference page. Paper should be double spaced in Times New Roman (or its equivalent) font which is no greater than 12 points in size. The paper should cite at least two sources in APA format. One source can be your textbook.

Describe the circumstances of the following case study and recommend a course of action. Explain your approach to the problem, perform relevant calculations and analysis, and formulate a recommendation. Ensure your work and recommendation are thoroughly supported.

Case Study:

A vacuum manufacturer has prepared the following cost data for manufacturing one of its engine components based on the annual production of 50,000 units.

Description Cost per Month
Direct Materials $75,000
Direct Labor $100,000
Total $175,000

In addition, variable factory overhead is applied at $7.50 per unit. Fixed factory overhead is applied at 150% of direct labor cost per unit. The vacuums sell for $150 each. A third party has offered to make the engines for $60 per unit. 75% of fixed factory overhead, which represents executive salaries, rent, depreciation, and taxes, continue regardless of the decision. Should the company make or buy the engines?

Superior papers will:

Perform all calculations correctly.
Articulate the approach to solving the problem, including which financial information is relevant and not relevant.
Correctly conclude on whether the company should make or buy the engines.
Propose other factors that should be considered when making this decision and elaborate on whether or not those factors do or do not support the decision.

Calculate the units completed and transferred out. Calculate the units still in WIP ending inventory. What journal entries are needed at month-end to transfer the costs to the next department?

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Accounting Final

ACCT-122: Managerial Accounting
Final Application Questions

Introduction

This project is an excellent way to summarize our study in Managerial accounting. I hope that you will have an opportunity to use this project for exam study by applying what you have learned in the classroom and solve for the answers.  While this is not all-inclusive, this does cover a vast majority of the concepts we learned in the past semester.

Instructions

  • You may use all resources available to you. However, MAKE CERTAIN YOU DO YOUR OWN WORK.
  • There will be NO PARTIAL CREDIT for the questions on the project. Each question is worth 8 points and there are 10 questions, making the total project worth 80 points.
  • Make certain your answers are clearly marked!

Question #1

EZ Ryder Motorcycles is considering whether or not to expand into Germany.  If the price of gas increases, the company expects more interest in fuel-efficient transportation such as motorcycles.  The company is, therefore, considering setting up a motorcycle assembly plant on the outskirts of Berlin.

The CFO expects to convert an existing building to accommodate motorcycle production and has a cost estimate of $850,000. Workers will need trained, at an expected cost of $65,000.  The additional cost to organize the business and to establish relationships is estimated to be $150,000.  The CEO has instructed the sales force to project the profits for this venture.  The estimated sales revenue without considering any of the above expenses is $1,624,000.

Decide whether or not EZ Ryder should expand into Germany.  Use a simple cost-benefit analysis.

Question #2

Auto USA spent $300 million in total to 50,000 cars this year.  The $300 million breaks down as follows:  $50 million in fixed costs and $5,000 of variable costs to produce each car.  Next year it plans to produce 60,000 cars.

  1. Indicate the current average cost per car this year.
  2. Assuming the fixed costs are appropriate for a relevant range up to 65,000 units, what is the total forecasted cost to produce the 60,000 cars?
  3. What will the forecasted average cost per car be for the upcoming year?
  4. Calculate the cost of goods manufactured.

Now…..presume there was a beginning WIP inventory of $5000 for one specific part used in the production process.  Additional information you will need for item d) is:

Component Amount
Direct materials used $24000
Direct labor used $9000
Manufacturing overhead $17000
Ending WIP inventory $4000

 

Question #3

LT Furniture makes sofas, loveseats, and recliners.  The company allocates manufacturing overhead based on direct labor hours.  The CFO has estimated a total of $2 million in manufacturing overhead for the upcoming year.  This is based on an estimated 40,000 direct labor hours for the year.

LT has elected to use job costing for most of their orders and Job 310 is for a batch of 10 recliners.  The direct materials below were requisitioned for this job.

  • Lumber à 10 units at $30 per unit
  • Padding à 20 yards at $20 per yard
  • Upholstery fabric à 60 yards at $25 per yard, sourced from a local manufacturer

Labor time records show the following employees worked on Job 310:

  • Jessee Slothower: 10 hours at $12 per hour
  • Becky Wilken: 15 hours at $18 per hour
  • Chip Lathrop: 12 hours at $15 per hour

 

  1. Compute the company’s predetermined overhead rate
  2. Compute the total amount of direct materials, direct labor, and manufacturing overhead that should be shown on Job 310’s job cost record sheet.
  3. Compute the total cost of Job 310, as well as the cost of each recliner produced in Job 310.

 

Question #4

Indy Auto Parts has a seat-manufacturing department that uses ABC costing.  The activity allocation rates are as follows:

  • Machining # of machine hours             $30 per machine hour
  • Assembling # of parts                                $.50 per part (fifty cents)
  • Packaging # of finished seats               $.90 per finished seat

Suppose Ford has asked for a bid on 50,000 baby seats that would be installed as an option on some Ford vehicles.  Each seat has 20 parts and the DM cost per seat is $11.  The job would require 10,000 direct labor hours at a labor wage rate of $25 per hour.  The company will use 400 machine hours to fabricate some of the parts required for the seats.

  1. Compute the total cost of producing and packaging 50,000 baby seats. Also – what is the average cost per seat?
  2. Indy will add a 30% markup to the total cost. What price will the company bid for the Ford order?
  3. Suppose that instead of using ABC, the company uses standard costing. The manufacturing overhead is a plant wide rate of $65 per direct labor hour.  The baby seat order will require 10,000 direct labor hours.  What would the total cost of the baby seats be under this system?  What is the average cost per seat? What price will the company now bid for the Ford order?

 

Question #5

A Tile company produces ceramic tiles in two sequential production departments – 1) Tile Forming and 2) Tile Finishing.

Information for the Tile Forming division for the month of May is as follows:

Information about UNITS

Component Units Notes
Beg WIP 2,000 units  
Started in production 18,000 units  
Completed and transferred 16,000 units  
End WIP 4,000 units 25% complete to direct materials; 55% complete for conversion costs

Information about COSTS

Component Costs Notes
Beg WIP $4,800 ($800 is DM and $4000 is conversion)
Direct materials used in May $6,000  
Conversion costs incurred in May $32,400  

Utilizing process costing, complete the following:

  1. Calculate the units completed and transferred out.
  2. Calculate the units still in WIP ending inventory.
  3. What journal entries are needed at month-end to transfer the costs to the next department?

Question #6

As the new manager of a local fitness club, you have been studying the club’s financial data.  You would like to determine how the clubs costs behave in order to make accurate predictions for next year.  Here is the information that you found for the last six months:

Month Club Memberships Total Operating Cost Avg. Operating Cost
July 450 $8,900 $19.78
August 480 $9,800 $20.42
September 500 $10,100 $20.20
October 550 $10,150 $18.45
November 560 $10,500 $18.75
December 525 $10,200 $19.43

 

  1. Use the high-low method to determine the club’s monthly operating cost equation.
  2. Use your answer above to predict total monthly operating costs if the club has 600 members.
  3. Construct a basic traditional income statement for JULY. Assume your cost equation that you previously came up with is accurate for your income statement preparation.  The club charges members $30 per month for unlimited access to the facility.
  4. Construct a contribution margin income statement for the month of JULY as well.

Question #7

Fleet Foot buys hiking socks for $6 per pair and resells them at $10 a pair.  Management budgets monthly fixed expenses of $10,000 for any sales volume between 0 and 12,000 pairs.

  1. Use the data above to determine the breakeven point in units.
  2. Use the contribution margin ratio approach (short-cut) to compute the breakeven point in sales revenue.
  3. If Fleet Foot desires a $14,000 operating income, what are the monthly sales in units needed to hit this desired level?
  4. Assume Fleet Foot has been selling 8,000 pairs of socks per month.  What is the current margin of safety in units?  In sales dollars?

 

Question #8

Aziz produces Standard and Deluxe sunglasses.  A standard pair sells for $40 and has variable expenses of $16.  The Deluxe sunglasses sell at $30 a pair and have variable expenses of $21.  The company only has 15,000 machine hours that they can produce both standard and deluxe models.  In one hour, Aziz can produce 70 pairs of standard glasses OR 30 pairs of the deluxe model.

  1. Which model would you suggest Aziz should emphasize?
  2. From the information given, can you determine how many of each type of sunglasses the company should make?

 

Question #9

Explain the steps a company will go through to complete a budget process.  (Hint: We start with SALES FORECASTS).

  1. Complete the sales budget, including a separate section that details the type of sales made (Cash/Credit).  The selling price is $14. Use the following information:
Month Expected Unit Sales
January 100,000
February 110,000
March 115,000

 

  1. Prepare the 2nd step of the budget process presuming the company would like to maintain an ending stock of finished pillows equal to 20% of the next month’s sales.  Sales in units are the same as in a) above. April has a projected unit sales figure of 120,000 units.

 

Question #10

Sonoma is considering investing in a solar paneling roof for one of its large distribution facilities.  The investment will cost $9,000,000.  It is expected to last 6 years and has no salvage value.  The company expects the yearly utility savings to increase over time as follows:

Year 1                        $1,000,000

Year 2                        $1,500,000

Year 3                        $2,000,000

Year 4                        $2,500,000

Year 5                        $3,500,000

Year 6                        $4,500,000

In screening their projects, the company uses the payback period and the Accounting Rate of Return equal to at least 10%.  Any potential investments that DO NOT hit BOTH criteria are immediately rejected.

  1. Calculate the payback period for the solar panels.
  2. Calculate the ARR for the solar panel project.
  3. Discuss whether the company should consider the project or reject the project.

During the 2001 fiscal year, how much Interest Expense, specifically related to its liquid yield option notes (LYONs), did Tribune recognize? Provide a dollar amount.

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Interest Expense

  1. During the 2001 fiscal year, how much Interest Expense, specifically related to its liquid yield option notes (LYONs), did Tribune recognize? provide a dollar amount.
  2. If Tribune does not retire any LYONs during the 2002 fiscal year, then what amount will Tribune report for the LYON’s book value on December 31, 2002?  provide a dollar amount.

 

Prepare an email response to the following emails. Assume you are a CPA working for a local public accounting firm called Allen, West and Dove, LLP.

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ACCOUNTING 390W

FOLLOW THE INSTRUCTION CAREFULLY AND WRITE IT IN YOUR OWN WORD

ICW Part 1 – EMAILS

Prepare an email response to the following emails. Assume you are a CPA working for a local public accounting firm called Allen, West and Dove, LLP. Your firm provides tax and accounting services including audit, reviews and compilations. There are three partners and a professional staff of sixteen. Financial statement reviews typically cost from $6,000 to $18,000. Individual income tax return preparation typically ranges from $1,500 to $3,500 while business returns range from $2,500 to $12,000.

Request for information about your CPA practice. Note: Andy Walters is an existing, long-time client.

From: William Davis

Sent: Monday, March 19, 20XX 8:27 AM

To:

Subject: CPA Services

If you are interested in working with us can you give me some information about your firm? Can you meet the April 15th deadline? Can you provide a fee estimate?