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Q1:Q2 a) Identify and list the relevant and irrelevant costs. b) Identify and list the recurring and non-recurring benefits and costs.See Answer
Q2:To do: Perform a detailed discussion on the importance of accounting for ASDA STORES LIMITED (UK) and what is the main process of accounting. Assessment 1 Sample of Essay on a selected Company This essay is based on Burberry Plc, my selected Company from the Retail Sector. The following areas will be covered in the essay. 1. Brief introduction of Burberry Plc 2. An explanation of the accounting principles at Burberry Plc and the importance of accounting at Burberry's 3. An explanation of the main process of accounting at Burberry 4. Harvard referencing will be used in the essay where necessary. See Answer
Q3:P17-31. Special Order Razor USA produces a variety of electric scooters. Assume that Razor has just received an order from a customer (Pulse Cycles) for 500 Power Core scooters. The following price, based on cost plus a 60% markup, has been developed for the order: See Answer
Q4:E17-24. Sell or Process Further Ecolab produces cleaning and sanitizing chemicals for commercial markets. Assume the processes raw material D into joint products E and F. Raw material D costs $8 per liter. It costs $15) to convert 100 liters of D into 60 liters of E and 40 liters of F. Product F can be sold immediately for $40 per liter or processed further into Product G at an additional cost of $12 per liter. Product G can then be sold for $55 per liter. Determine whether Product F should be sold or processed further into Product G. P E17-25. Limited ResourSee Answer
Q5:P17-31. Special Order Razor USA produces a variety of electric scooters. Assume that Razor has just received an order from a customer (Pulse Cycles) for 500 Power Core scooters. The following price, based on cost plus a 60% markup, has been developed for the order: See Answer
Q6:E17-24. Sell or Process Further Ecolab produces cleaning and sanitizing chemicals for commercial markets. Assume the processes raw material D into joint products E and F. Raw material D costs $8 per liter. It costs $15) to convert 100 liters of D into 60 liters of E and 40 liters of F. Product F can be sold immediately for $40 per liter or processed further into Product G at an additional cost of $12 per liter. Product G can then be sold for $55 per liter. Determine whether Product F should be sold or processed further into Product G. P E17-25. Limited ResourSee Answer
Q7:Required a. Develop a monthly plan that indicates the number of customers Maria should call on in each clas- sification to maximize her monthly sales commissions. b. Determine the monthly commissions Maria will earn if she implements this plan. c. Give one or two reasons why Maria might decide not to follow the conclusions of the above analysis entirely See Answer
Q8:Required a. Determine the unit cost for each job using a traditional plantwide overhead rate based on machine hours. b. Determine the unit cost for each job using ABC. (Round answers to two decimal places.) c. As the manager of Ridgeland, is there additional information that you would want to help you evalu- ate the pricing and profitability of Jobs 201 and 202? d. Assuming the company has been using the method required in part a, how should management react to the findings in part b?See Answer
Q9:Required Determine the effect each of the following situations would have on monthly profits. Each situation should be evaluated independently of all others. a. Product A is discontinued. b. Product A is discontinued, and the subsequent loss of customers causes sales of Product B to decline by 150 units. c. The selling price of A is increased to $25 with a sales decrease of 250 units. d. The price of Product B is increased to $20 with a resulting sales decrease of 300 units. However, some of these customers shift to Product A; sales of Product A increase by 200 units. e. Product A is discontinued, and the plant in which A was produced is used to produce D, a new prod- uct. Product D has a unit contribution margin of $2. Monthly sales of Product D are predicted to be 1,500 units. f. The selling price of Product C is increased to $35, and the selling price of Product B is decreased to $10. Sales of C decline by 350 units, while sales of B increase by 400 units.See Answer
Q10:Required: 1. Using the above performance measures, construct a balanced scorecard strategy map for the Powder 8 Lodge. Use the chart attached as a guide. Use arrows to show causal links and indicate with a + or - whether the performance measure should increase or decrease.See Answer
Q11:2. What hypotheses are built into the balanced scorecard for the Powder 8 Lodge? Which of these hypotheses do you believe are most questionable? Why?See Answer
Q12:Required: 1. Prepare journal entries to record the above transactions. 2. Set up T-accounts for Materials inventory, Work in process, Finished goods, Overhead control and Cost of goods sold. Post all entries necessary to these accounts. 3. Determine the Cost of Goods Manufactured. 4. Indicate whether overhead is over or under applied during the period, and by how much. What do we do to deal with, or dispose of, this amount? 5. Prepare the Statements of Cost of Goods Manufactured and Cost of Goods Sold for the period. (Note: When preparing the Cost of Goods Manufacturing Statement, use ONE amount for overhead - you need NOT list all of the individual overhead items.) 6. Show the Inventory section of the Balance Sheet for Montclair as of the end of January. 7. What factors could have caused overhead to be overapplied or underapplied for the period? (Hint: there are really ONLY 2)See Answer
Q13:CASE 11-23 Balanced Scorecard LO11-4 Haglund Department Store is located in the downtown area of a small city. While the store had been profitable for many years, it is facing increasing competition from large national chains that have set up stores on the outskirts of the city. Recently the downtown area has been undergoing revitalization, and the owners of Haglund Department Store are somewhat optimistic that profit- ability can be restored. In an attempt to accelerate the return to profitability, management of Haglund Department Store is in the process of designing a balanced scorecard for the company. Management believes the company should focus on two key problems. First, customers are taking longer and longer to pay the bills they incur using the department store's charge card, and the company has far more bad debts than are normal for the industry. If this problem were solved, the company would have more cash to make much needed renovations. Investigation has revealed that much of the problem with late payments and unpaid bills results from customers disputing incorrect charges on their bills. These incorrect charges usually occur because salesclerks incorrectly enter data on the charge account slip. Second, the company has been incurring large losses on unsold seasonal apparel. Such items are ordinarily resold at a loss to discount stores that specialize in such distress items. The meeting in which the balanced scorecard approach was discussed was disorganized and ineffectively led-possibly because no one other than one of the vice presidents had read anything about how to build a balanced scorecard. Nevertheless, a number of potential performance mea- sures were suggested by various managers. These potential performance measures are: a. Percentage of charge account bills containing errors. b. Percentage of salesclerks trained to correctly enter data on charge account slips. Average age of accounts receivables. C. d. Profit per employee. e. Customer satisfaction with accuracy of charge account bills from monthly customer survey. f. Total sales revenue. g. Sales per employee. h. Travel expenses for buyers for trips to fashion shows. i. Unsold inventory at the end of the season as a percentage of total cost of sales. j. Courtesy shown by junior staff members to senior staff members based on surveys of senior staff./nn. Quality of food in the staff cafeteria based on staff surveys. o. Percentage of employees who have attended the city's cultural diversity workshop. p. Total profit. Required: 1. As someone with more knowledge of the balanced scorecard than almost anyone else in the company, you have been asked to build an integrated balanced scorecard. In your scorecard, use only performance measures listed previously. You do not have to use all of the perfor- mance measures suggested by the managers, but you should build a balanced scorecard that reveals a strategy for dealing with the problems with accounts receivable and with unsold merchandise. Construct the balanced scorecard following the format used in Exhibit 11-5. Do not be concerned with whether a specific performance measure falls within the learning and growth, internal business process, customer, or financial perspective. However, use arrows to show the causal links between performance measures within your balanced scorecard and explain whether the performance measures should show increases or decreases.See Answer
Q14:2. Assume the company adopts your balanced scorecard. After operating for a year, some perfor- mance measures show improvements, but not others. What should management do next?See Answer
Q15:3. Suppose customers express greater satisfaction with the accuracy of their charge account bills but the performance measures for the average age of accounts receivable and for bad debts do not improve. Explain why this might happen. b. Suppose the performance measures for the average age of accounts receivable, bad debts, and unsold inventory improve, but total profits do not. Explain why this might happen. Assume in your answer that the explanation lies within the company. a.See Answer
Q16:GOALS AND OBJECTIVES To understand the nature and importance of differential costs and revenues and how they affect tactical decisions ✓ To understand the relevance of opportunity costs in any decision To understand how to properly frame and utilize a cost/benefit analysis ✓ To understand what the "real cost" is of doing ANYTHING To introduce special orders and "sell or process" decisions, and how to apply differential costing and cost/benefit analysis to them 1. In order for a cost (or anything for that matter) to be considered relevant for a decision, what 2 characteristics are needed? 2. What are differential costs and revenues? WHY are they important? 3. What is a sunk cost? WHY are sunk costs always irrelevant in decision making? 4. What is an opportunity cost? WHY are they always relevant when making a decision? 5. What is meant by an "avoidable cost"? 6. What are the basic steps involved in decision making? 7. What is a "quantitative" factor in a decision? 8. What is a "qualitative" factor in a decision? 9. What do we mean by "Cost-Benefit Analysis? 10. You operate a lemonade stand located outside of an office building. Your costs are as follows: Rent paid to building owner $25 per week Lemons $25 per bag of 100 lemons. Sugar Cups $5 per box of 100 sugar packets $50 per bag of 100 cups Each cup of lemonade uses one lemon and one sugar packet. Your normal selling prince is $1.50 per cup. a) It is one minute before closing time and there is nobody else in sight. You are about to pack up when Frank stops by and says that all 25 people in his office would like a cup of lemonade and offers you $22 for the whole bunch. This is a ONE TIME offer. You have never seen Frank before and you never will again. Do you accept this offer or not, and WHY? b) What if there was a long line of customers waiting at the lemonade stand - enough customers to use all the lemons that you have. Does this make any difference? NOW would you sell to Frank at $22? WHY or WHY NOT?/n11. Roolex is a manufacturer of imitation Rolex "knock-offs". They have 500 watches on hand that already cost $15 each to make. They are, however, out of style and cannot be sold as is - even the people buying watches off the street won't buy them! All is not lost, however, because they can be "refitted" at an additional cost of $4 per watch, and then sold for $18 each. Alternatively, Sam Sham the Discount Man will buy them for $3 each and use the watch bands, throwing everything else away. What should they do, and why?See Answer
Q17:CONTINUING A PRODUCT LINE Aquilino Inc. produces two types of rowing machines, the Deluxe and the Regular models. A recent segmented income statement is shown below. Sales Less: Variable costs Contribution margin Less: Direct fixed costs Segment Margin Regular $ 160,000 120,000 40,000 Common fixed costs (allocated) Deluxe $ 240,000 160,000 80,000 Total $ 400,000 280,000 120,000 L 52,000 68,000 60,000 $8,000 32,000 20,000 8,000 60,000 10,000 50,000 Net income (Loss) $(2.000) $10,000 * Direct fixed costs are direct with respect to the product lines. **Allocated fixed costs relate to costs incurred at the company-wide level which are allocated to all products. REQUIRED: 1. Determine if Aquilino should drop the Regular model. How much better or worse off would the company OVERALL be if it was discontinued? 2. Assume that $10,000 of common fixed costs could be saved if the Regular line is dropped. Should the model be dropped NOW?/nSELL OR PROCESS FURTHER Jeffers Inc. has decided to discontinue its Basic model DVD player. They currently have a number of partially completed units on hand that have incurred $50 of costs per unit. They could complete them incurring the following additional unit costs: Direct materials $10 Direct labor $20 Variable overhead $5 Fixed overhead $30 The fixed costs relate to depreciation on plant assets. If Jeffers completes the DVD players they can be sold at $100 per unit. However, another company is willing to buy the DVD players as is for $60. REQUIRED: 1. What should Jeffers do? 2. By how much is this preferable to the next best alternative?See Answer
Q18:Submission instructions: Submit the Excel Spreadsheet using Canvas. Type your answers in a word processor, if necessary, and convert it to PDF format. In order to make it easy to give you the marks you deserve, you need to communicate clearly and concisely. Show your work in order to get full credit! Medication Errors in Emergency Department [100 marks] Excel File: HCM 403 - Module 5.XLSX Samples of 100 medication orders placed in the emergency department (ED) are checked each day against five potential types of errors. Tab Q1 in the Excel file shows the number of medication errors recorded during the last 15 days. Develop the appropriate control chart by conducting your calculations to obtain the values involved in the control chart in the spreadsheet (70 Marks). Is the process in control? Why or why not? (30 Marks)See Answer
Q19:Gertrude desires an ending finished goods inventory to be equal to 20% of the next month's sales needs. July 1 inventory is projected to be 1,000 units. Each unit requires 5 pounds of Chemical A and 14 pounds of Chemical B. July 1 materials inventory includes 10,600 pounds of Chemical A and 76,000 pounds of Chemical B. Gertrude desires to maintain a Chemical A inventory equal to 30% of next month's production needs and a Chemical B inventory equal to 100% of next month's production needs. a, Prepare a production budget for Gertrude for July, August and September. b. Prepare a direct materials purchases budget for Chemical A, for theSee Answer
Q20:Okay, we've spent 8 minutes on Process Costing so far. That's long enough for you to figure this out. Look forward to your answers!! We have one department and we mix cement. That's it. Three things happened: 1) At the beginning of the period we had 1000 lbs of cement that were 40% complete. (That means we needed to mix the remaining 60% first) Then we started another 2,000 during this period as follows: 2) 1,500 lbs were finished. In other words, they went through the whole process this period. They were started AND finished this period./n3) The remaining 500 lbs were still in process the end but they were 50% complete OK ... let's see what you learned in the final 8 minutes of the last class. How many whole pounds of concrete di we actually mix??See Answer

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