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For more course tutorials visitnwww.tutorialrank.comnnACCT 556 Week 1 HomeworknnThe new president of the Wernecke Company was stumped. Why had profits gone down? He had directed the sales department to push the product with the highest contribution margin, and the sales department had come through with flying colors. The percent of flams sold had increased from 25% of units sold to 37.5% of units sold. So what happened?nRequired:n1. Calculate the Wernecke Company’s estimated direct labor hours to produce flims and flams.

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acct 556 education on your terms tutorialrank com 1

ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 1 Homework Problems

For more course tutorials visit

www.tutorialrank.com

ACCT 556 Week 1 Homework

The new president of the Wernecke Company was stumped. Why had profits gone down? He had directed the sales department to push the product with the highest contribution margin, and the sales department had come through with flying colors. The percent of flams sold had increased from 25% of units sold to 37.5% of units sold. So what happened?

Required:

1. Calculate the Wernecke Company’s estimated direct labor hours to produce flims and flams.

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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 2 Homework Assignment

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ACCT 556 Week 2 Homework Assignment

The Schonlind Company has gathered information regarding past sales:

Required:

1. Predict the sales for 2006 using the moving average method.

2. You noticed a sudden jump in sales in 2002. After inquiring about this jump, you were told that there was a one-time sale for $200,000 in that year that is not likely to be repeated. What revision, if any, would you make in the sales information used for projection?

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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 3 Homework Problems

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ACCT 556 Week 3 Homework Problem

Production Budgets

The Hale Company finished their sales projections for the coming year. The company produces one product. Part of next year’s sales projections are as follows:

Engineering has developed the following standards upon which the production budgets will be developed:

Item Standard

Materials usage 5 lbs per unit

Material price per pound $1.50 per pound

Labor usage 0.4 hours per unit

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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 4 Homework Problems

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Week 4 Capital Budgeting Practice problem:

You have the following data about a proposed project:

Cost of new equipment $80,000

Increase need for Working Capital (to be released at end of project) $20,000

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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 5 Homework Assignment

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ACCT 556

Week 5 Problem

Cash Budget

Note: It is expected that this problem will be complete using an Excel spreadsheet using formulas. Please see the Excel Tutorial that is available under the course home tab.

The Hale Company is currently working on its cash budget for the coming year. The following information is available:

Projected sales for the coming year:

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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 6 Homework Problem

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ACCT 556

Week 6 Problem

Proforma Statements

The Duncan Company has just completed a number of budgets for the coming year. The cost of goods manufactured schedule, the proforma income statement and the balance sheet still have to be completed. The following information is available:

E12-3 provides us repeated practice to record amortization on intangible asset



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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 7 Course Project (Fanciful Inc)

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ACCT 556 Week 7 Course Project

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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 7 Course Project Fantastic Inc

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ACCT 556 Week 7 Course Project Fantastic Inc

Fantastic, Inc. is a case study which allows you to incorporate numerous financial and managerial accounting concepts into a single business setting. You will take the position of the company controller who will prepare the budget for the year ended December 31, 2006, using the actual data from 2001 through 2005 and information given to you by various departments. You will prepare a report for the president of the company describing the strengths and weakness of the corporation as well as to provide suggestions for the future. In short, you will be responsible for the planning and control procedures for the company from an accounting standpoint.

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ACCT 556 Education on your terms/tutorialrank.com

ACCT 556 Week 7 Homework Problem

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ACCT 556

Week 7 Problem

Benefits of Social Programs

A community public works project will cost $55,000 dollars and will benefit 5 different individuals:

1. Is this project economically feasible? Show work in an excel spreadsheet that lists the benefit for each individual.