Essentials of Acct

Terrance and I had a brief meeting before he met his ACCT 220 tutor. He needed to work in two assignments for that class which are due on Sunday (10/29). Terrance and I tried to make an appointment with Terrance’s academic advisor, but it was not possible for him to make this appointment. We will try to make this appointment during our next meeting.

In this table, it reflects the changes in fixed plant overhead from $420,000 to $378,000. The company still has the fixed selling and administrative expense per quarter of $118,000. The new company fixed overhead is now at $496,000 from the past $538,000 ($42,000) change from past to

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 has led to the questioning of the soundness of accounting and financial reporting standards as well as of the Italian corporate governance system. Parmalat, which is headquartered in the central Italian city of Parma, was, like most Italian

Fixed Manufacturing Overhead in Ending Inventory: $18,000 (5,000 units in ending inventory * $3.60 of fixed manufacturing overhead per unit)

1. Assume that a company is budgeting to sell 2,500 units of a product at a selling price per unit of $32. The variable cost per unit is $26 and total fixed costs are $5,000.

Section “Cost behaviour analysis” – A variable cost varies in total in proportion to changes in the level of activity.

|Net Operating Profit After Taxes| | 4,356,000 | 8,316,000 | 9,900,000 | 5,148,000 | 1,980,000 |

Fixed cost or expense are variables that are not effected by the change in production or sales. A variable cost or expense is effected directly by a change in production volume or sales. We will categorize our Fixed and variable cost and expenses. First, we have variable data: executive salaries, insurance and property taxes. These items are located on schedule 7 of our Excel analysis. Second we have fixed variables, raw material direct labor, and inventory.

Operating expense increased from $102k or 19.5% of sales to $107.6k or 18.6% of sales. August 2015 includes a charge of $10k for an employee bonus awarded to all Calumet

Prod cost per unit 65 65 Variable Method q1 q2 Year Year Period End Mar 31, '12 Jun 30, '12 2012 2011 Production Budget 25,000 50,000 125,000 100,000 Sales 2,500,000 2,500,000 10,000,000 10,000,000 Var Cost of Goods Sold 1,125,000 625,000 2,375,000 2,875,000 Var Sell & Admin Exp 500,000 500,000 2,000,000 2,000,000 Contribution Margin 875,000 1,375,000 5,625,000 5,125,000 Fixed Costs 500,000 500,000 2,000,000 2,000,000 Net Income 375,000 875,000 3,625,000 3,125,000 Var Cost of Goods Sold Beg Inventory 650,000 650,000 650,000 650,000 Var Mfg Costs 1,125,000 2,250,000 4,000,000 4,500,000 Goods Available 1,775,000

For each of the above independent situations: (1) describe the overall impact on audit risk and provide your reasons for your answer, and (2) identify the specific component(s) of audit risk affected.

Once I was informed that I would be conducting this project for our company, I was real excited. I first found out what our budget was; $35,000 for technology fees and new devices, along with $5,000 for set up and any first month cost fees, I knew I would be able to be successful on staying underbudget and still meet all of our needs. Once I knew what our budget was, I started looking for devices. I had two

As the project manager for the IT department, the project of deploying a new VoIP phone system to the company’s campus has been assigned. The campus consists of three different buildings, each with twenty to fifty workstations. The project must be completed in 90 calendar days starting on December 1.

Dear Amanda, as you know so many start-up small businesses like yours and often run in to the trouble of mismanagement because of so many assumptions based on establishing the business mission, vision statements; human resource management; lack of employee motivation; lack of properly defined working standards for employees and other outcomes measurable; not taking any concern of negative information about the organization especially from the clients which costs the organizations image and remaining too busy to pay attention to the establishment of problem

Direct Material Cost Factory overhead cost Total cost of processing 1,641,750.00 2,401,059.50 New Cash Flow Q1 Sales (per quarter) 75% collected in this quarter 25% collected from last quarter 1,462,708.0 0 - 5,262,839.25 Available for Sale 5,262,839.25