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ACC 561 Entire Course (Excluding Final Guide)For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com ACC 561 Week 1 Individual Assignment…
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ACC 561 Entire Course (Excluding Final Guide)For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) (New Syllabus) ACC 561 Week 1 Individual Assignment Financial Statements (Walt Disney) ACC 561 Week 2 Assignment Accounting Methods (Bizcon, 2 Papers) ACC 561 Week 3 Assignment Ratio Analysis (P Jason, New Syllabus) ACC 561 Week 3 Team Financial Statement Analysis and Decision Making Activity ACC 561 Week 4 Assignment Production Cost (Davis Skaros, New Syllabus) ACC 561 Week 5 Team Cost Behavior Analysis ACC 561 Week 5 Assignment Case Study Cost Volume Profit Analysis (Mary Willis, New Syllabus) ACC 561 Week 6 Assignment Managerial Analysis Assessment (Green Pasture, New Syllabus)ACC 561 Week 1 Financial Statement Differentiation Paper (New Syllabus) ACC 561 Week 2 Small Business Analysis (New Syllabus) ACC 561 Week 3 Team Assignment Tootsie Roll Industries Inc. Loan Package ACC 561 Week 3 Business Plan Develop a business plan and financial metrics ACC 561 Week 4 Costing Methods ACC 561 Week 5 CVP and Break-Even Analysis ACC 561 Week 6 Budgets and Decisions making ----------------------------------------------------------------------ACC 561 Entire Course (With Final Guide)For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com Final Guide contains 23 Questions out of 30 (you can ask for free help before opening the exam)ACC 561 Final Exam Guide (New, 2017, 23 Questions)ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) (New Syllabus) ACC 561 Week 1 Individual Assignment Financial Statements (Walt Disney) ACC 561 Week 2 Assignment Accounting Methods (Bizcon, 2 Papers) ACC 561 Week 3 Assignment Ratio Analysis (P Jason, New Syllabus) ACC 561 Week 3 Team Financial Statement Analysis and Decision Making Activity ACC 561 Week 4 Assignment Production Cost (Davis Skaros, New Syllabus) ACC 561 Week 5 Team Cost Behavior Analysis ACC 561 Week 5 Assignment Case Study Cost Volume Profit Analysis (Mary Willis, New Syllabus) ACC 561 Week 6 Assignment Managerial Analysis Assessment (Green Pasture, New Syllabus) ACC 561 Week 1 Financial Statement Differentiation Paper (New Syllabus) ACC 561 Week 2 Small Business Analysis (New Syllabus) ACC 561 Week 3 Team Assignment Tootsie Roll Industries Inc. Loan PackageACC 561 Week 3 Business Plan Develop a business plan and financial metrics ACC 561 Week 4 Costing Methods ACC 561 Week 5 CVP and Break-Even Analysis ACC 561 Week 6 Budgets and Decisions making ---------------------------------------------------------------------ACC 561 Final Exam Guide (New, 2017, Score 100%)For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.comThe investigation of materials price variance usually begins in the: controller’s office. accounts payable department. first production department. purchasing departmentHollis Industries produces flash drives for computers, which it sells for $20 each. Each flash drive costs $13 of variable costs to make. During April, 1,000 drives were sold. Fixed costs for March were $2 per unit for a total of $1,000 for the month. How much is the contribution margin ratio? 35% 25% 75% 65%Which of the following statements is not true? When a company’s sales revenue is decreasing, high operating leverage is good because it means that profits will decrease at a slower pace than revenues decrease. When a company’s sales revenue is increasing, high operating leverage is good because it means that profits will increase rapidly. Companies that have higher fixed costs relative to variable costs have higher operating leverage. Operating leverage refers to the extent to which a company’s net income reacts to a given change in sales.Which of the following will not result in an unfavorable controllable margin difference? Sales under budget; costs under budget Sales exceeding budget; costs under budget Sales under budget; costs over budget Sales exceeding budget; costs over budget5 Based on the following data, what is the amount of working capital? Accounts payable………………………………………………………..$64,000 Accounts receivable……………………………………………………..114,000 Cash…………………………………………………………………… …. 70,000 Intangible assets…………………………………………………………100,000 Inventory……………………………………………………………… …. 138,000 Long-term investments…………………………………………………..160,000 Long-term liabilities……………………………… ………………………200,00 0 Short-term investments……………………………………………………80,000 Notes payable (shortterm)………………………………………………..56,000 Property, plant, and equipment………………………………………..1,340,000 Prepaid insurance…………………………………………………………….2, 000$370,000 $332,000 $326,000 $284,0006 Miller Manufacturing’s degree of operating leverage is 1.5. Warren Corporation’s degree of operating leverage is 3. Warren’s earnings would go up (or down) by as much as Miller’s with an equal increase (or decrease) in sales. 2 times 4.5 times 1.5 times 1/2 times7 What is the primary difference between a static budget and a flexible budget? The static budget contains only fixed costs, while the flexible budget contains only variable costs. The static budget is prepared only for units produced, while a flexible budget reflects the number of units sold. The static budget is constructed using input from only upper level management, while a flexible budget obtains input from all levels of management. The static budget is prepared for a single level of activity, while a flexible budget is adjusted for different activity levels.8 Ben Gordon, Inc. manufactures 2 products, wheels and seats. The company has estimated its overhead in the assembling department to be $660,000. The company produces 300,000 wheels and 600,000 seats each year. Each wheel uses 2 parts, and each seat uses 3 parts. How much of the assembly overhead should be allocated to wheels? $165,000 $220,000 $264,000 $282,8569 Financial and managerial accounting are similar in that both: produce general-purpose reports. deal with the economic events of an enterprise. have reports that are prepared quarterly and annually. have the same primary users.10 It costs Garner Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 3,000 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted. Garner has sufficient unused capacity to produce the 3,000 scales. If the special order is accepted, what will be the effect on net income? $6,000 decrease $9,000 decrease $6,000 increase $45,000 increase11 Which one of the following is an example of a period cost? A manager’s salary for work that is done in the corporate head office. A box cost associated with computers. A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer. Workers’ compensation insurance on factory workers’ wages allocated to the factory.12 The Mac Company has four plants nationwide that cost $350 million. The current fair value of the plants is $300 million. The plants will be reported as assets at: $300 million. $350 million. $600 million. $700 million.13 Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not? Yes, the intent of the company is to perform the work and the customer is confident that the services will be completed. No, the amount of revenue cannot be adequately determined until the company completes the work. Yes, they are treated as revenue at the time of receipt because the company has access to the cash.No, revenue cannot be recognized until the work is performed.14 Which statement is correct? The cash basis of accounting is objective because no one can be certain of the amount of revenue until the cash is received. As long as management is ethical, there are no problems with using the cash basis of accounting. As long as a company consistently uses the cash basis of accounting, generally accepted accounting principles allow its use. The use of the cash basis of accounting violates both the revenue recognition and expense recognition principles.15 If a plant is operating at full capacity and receives a one-time opportunity to accept an order at a special price below its usual price, then: the order will likely be accepted. only variable costs are relevant. the order will likely be rejected. fixed costs are not relevant. 16 Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period: Estimated annual overhead cost $1,600,000 Actual annual overhead cost $1,575,000Estimated machine hours 400,000 Actual machine hours 390,000 $1,560,000 applied and $15,000 underapplied $1,560,000 applied and $15,000 overapplied $1,600,000 applied and $15,000 overapplied $1,575,000 applied and neither under- nor overapplied17 Scorpion Production Company planned to use 1 yard of plastic per unit budgeted at $81 a yard. However, the plastic actually cost $80 per yard. The company actually made 3,900 units, although it had planned to make only 3,300 units. Total yards used for production were 3,960. How much is the total materials variance? $3,960 F $48,600 U $900 U $4,860 U18 Which of the following statements concerning users of accounting information is incorrect? Present creditors are considered external users. Taxing authorities are considered external users. Regulatory authorities are considered internal users. Management is considered an internal user.19Top management notices a variation from budget and an investigation of the difference reveals that the department manager could not be expected to have controlled the variation. Which of the following statements is applicable? Department managers should be credited for favorable variances even if they are beyond their control. Department managers should be held accountable for all variances from budgets for their departments. Department managers’ performances should not be evaluated based on actual results to budgeted results. Department managers should only be held accountable for controllable variances for their departments.20 Danner Corporation reported net sales of $650,000, $720,000, and $780,000 in the years 2016, 2017, and 2018, respectively. If 2016 is the base year, what percentage do 2018 sales represent of the base? 120% 83% 20% 108%21 La More Company had the following transactions during 2016: Sales of $9,000 on account Collected $4,000 for services to be performed in 2017 Paid $3,750 cash in salaries for 2016Purchased airline tickets for $500 in December for a trip to take place in 2017 What is La More’s 2016 net income using accrual accounting? $9,250 $9,750 $5,250 $5,750 22 If there are no units in process at the beginning of the period, then: the units started into production will equal the number of units transferred out. the company must be using a job order cost system. the units to be accounted for will equal the units transferred out and the units in process at the end of the period. only one computation of equivalent units of production will be necessary.23 Which of the following is not an underlying assumption of CVP analysis? Sales mix is constant. Beginning inventory is larger than ending inventory. Cost classifications are reasonably accurate. Changes in activity are the only factors that affect costs. 24. In performing a vertical analysis, the base for sales revenues on the income statement is:​​ ​ ​ ​net sales. cost of goods available for sale. sales revenue. net income.25 Differences between a job order cost system and a process cost system include all of the following except the:​ ​ unit cost computations. ​ flow of costs. ​ documents used to track costs. ​ point at which costs are totaled. 26 Henson Company began the year with retained earnings of $380,000. During the year, the company recorded revenues of $500,000, expenses of $380,000, and paid dividends of $40,000. What was Henson’s retained earnings at the end of the year?​ ​ $460,000 ​ $540,000 ​ $840,000 ​ $500,000 27 At September 1, 2017, Baxter Inc. reported Retained Earnings of $423,000. During the month, Baxter generated revenues of $60,000, incurred expenses of $36,000, purchased equipment for $15,000 and paid dividends of $6,000. What is the balance in Retained Earnings at September 30, 2017?​$24,000 credit ​ $423,000 debit ​ $426,000 credit ​ $441,000 credit 28 An activity-based overhead rate is computed as follows:​​ ​estimated overhead divided by actual use of cost drivers. actual overhead divided by estimated use of cost drivers. estimated overhead divided by estimated use of cost drivers. actual overhead divided by actual use of cost drivers. ​ ​29. Which is the last step in developing the master budget?​ ​ ​ ​ ​Preparing the cash budget Preparing the cost of goods manufactured budget Preparing the budgeted balance sheet Preparing the budgeted income statement30 The entry to record the acquisition of raw materials on account is:​​ Manufacturing Overhead Raw Materials Inventory Accounts Payable​Work in Process Inventory Accounts Payable ​ Raw Materials Inventory Accounts Payable ​ Accounts Payable Raw Materials Inventory --------------------------------------------------------------------ACC 561 Week 1 Financial Statement Differentiation Paper (New Syllabus)For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.comFinancial Statement Differentiation Instructions: Write a paper between 700 and 1,000 words discussing the four different types of financial statement. Explain the information provided by each financial statement and include specific examples. Incorporate your responses to the following questions. Which financial statement or statement would be of most interest to investors, creditors and management. Why? Format your paper consistent with APA guidelines and submit your paper and plagiarism review file via the assignment files tab.------------------------------------------------------------------------------ACC 561 Week 1 Individual Assignment Financial Statements (2 Papers) (New Syllabus)For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.com Purpose of Assignment This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company's liquidity, solvency, and profitability. Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC), University Library, Library resources: Company Directories and Financials Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products. Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past. Research the company on the Internet and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows.Develop a minimum 700-word examination of the financial statements and include the following: • Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year? • Explain the relevance of changes in net income to investors. • Determine the ending balance in shareholders' equity. Why would organizations such as labor unions be interested in this? • Determine the total value of assets. • Discuss the relevance of the total value of assets to potential creditors and why this is important. • Compute the return on assets. Discuss the relative profitability of the company based on your results. • Compute the working capital and current ratio. Evaluate the relative liquidity of the company based on your results. • Compute the debt to assets ratio and the free cash flow for your company. Analyze the results and comment on the relative solvency of the company. • Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making? Show your work in Microsoft® Word or Excel®. Complete calculations/computations using Microsoft® Word or Excel®. Include the four financial statements along with your assignment. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. --------------------------------------------------------------------------ACC 561 Week 1 Individual Assignment Financial Statements (Walt Disney)For more course tutorials visit Uophelp is now newtonhelp.com www.newtonhelp.comPurpose of Assignment This activity helps students recognize the significant role accounting plays in providing financial information to management for decision making through the evaluation of financial statements. This experiential assignment requires students to use ratios to evaluate and analyze a company's liquidity, solvency, and profitability. Assignment Steps Resources: Generally Accepted Accounting Principles (GAAP), U.S. Securities and Exchange Commission (SEC), University Library, Library resources: Company Directories and Financials Tutorial help on ExcelÂŽ and Word functions can be found on the MicrosoftÂŽ Office website. There are also additional tutorials via the web offering support for Office products. Select a publicly traded, U.S. corporation with which you are familiar or one where you currently work or have worked in the past. Research the company on the Internet and download the Income Statement, Statement of Shareholders' Equity, Balance Sheet, and Statement of Cash Flows. Develop a minimum 700-word examination of the financial statements and include the following:Determine the net income for the current fiscal year (FY). Is this income up or down from the prior year?  Explain the relevance of changes in net income to investors.  Determine the ending balance in shareholders' equity. Why would organizations such as labor unions be interested in this?  Determine the total value of assets.  Discuss the relevance of the total value of assets to potential creditors and why this is important.  Compute the return on assets. Discuss the relative profitability of the company based on your results.  Compute the working capital and current ratio. Evaluate the relative liquidity of the company based on your results.  Compute the debt to assets ratio and the free cash flow for your company. Analyze the results and comment on the relative solvency of the company.  Discuss how the financial statements are used in your current role or a position you would like to hold. How might these aid you in managerial decision making? Show your work in Microsoft® Word or Excel®. Complete calculations/computations using Microsoft® Word or Excel®. Include the four financial statements along with your assignment. Format your assignment consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. -------------------------------------------------------------------------ACC 561 Week 2 Assignment Accounting Methods (Bizcon, 2 Papers)For more course tutorials visitUophelp is now newtonhelp.com www.newtonhelp.com This Tutorial contains 2 PapersPurpose of Assignment This week's activity illustrates the role a company's accounting method plays in financial statement reporting. In this assignment, students evaluate the events occuring in a business setting and determine how to properly analyze those events to identify the i
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