accounting 200 level, excel assignment help

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Answer 4 questions in images: problem 1,2,4,6

Course accounting 213


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roblem 1 (6 pts) Jones Corporation produced 2,200 units in August. Its manufacturing costs for August appear below: Direct material (VC) Direct labor (VC) Variable overhead (VC) Factory depreciation (FC) Other fixed factory costs (FC) oud udget $12,000 6,000 8,000 11,000 Instructions pont con 3,500 If Stratten produces a September flexible budget based on August activity, then what will its total budgeted costs be for September if 900 units are likely to be produced in September? Use the template below for your answer. Show all calculations to the right ry Amount Direct Materials Direct Labor Variable Overhead Factory Depreciation Other Fixed Factory Costs Total Budgeted Costs Problem 2 (14 pts) Soster makes and sells candles. Each candle uses 1/4 pound of wax. Budgeted sales and production of candles in units for the next five months is as follows: April May June July Budgeted production 11,500 14,000 15,900 16,500 The company wants to maintain monthly ending inventories of candles equal to 30% of the following months budgeted sales. It also wants to maintain monthly ending inventories of wax equal to 20% of the following month's budgeted production needs The cost of wax is $0.80 per pound. Prepare a direct materials budget for the months of April, May, and June. Total April May June Candles to be produced Pounds of wax per candle Wax needed for production Desired wax in ending inventory Wax needed Wax in beginning inventory Wax to be purchased Cost of wax, per pound Cost of wax purchases Name each of the Problem 4 (16 pts) The income statement information for the first quarter of 2013 shows Sales of 300,000 (5,000 clocks at $60 each). The Clock Company must prepare its uarterly budgeted income statement for 2014. The regional manager expects that the number of clocks sold in the first quarter of 2014 will increase by 10% over the first quarter of 2013 while sales price per clock will remain constant. The Direct Material (DM) budget shows that each clock requires 2.4 units of DM and that the average cost of each DM unit is $3. The Direct Labor budget shows that it takes craftsmen 0.8 hours to assemble each clock and that the craftsmen's wages average $13/hour. The Manufacturing Overhead budget shows that overhead costs should be $6/DL hour. Instructions a) (6 pts) In the space provided below, show your calculation of Direct Materials cost per unit, Direct Labor cost per unit, and Manufacturing Overhead cost per unit. Circle your answers. DM DL OH Problem 4 - continued Statet0 pts) Using information from the previous page, prepare a budgeted income statement for the first quarter of 2014 on the following schedule (leave shaded cells Wages Rent expense Depreciation on office equipment Utilities expense Miscellaneous expenses $8,200 + 11% of sales $4,500 $2,100 $2,200 3% of sales The Clock Company Budgeted Income Statement For the Quarter Ending March 31, 2014 Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Wages Expense Rent Expense Depreciation Expense Utilities Expense Miscellaneous Expense Total Selling and Administrative Expenses Net Income Problem 6 (15 pts) Anna Manipulation Corp. is considering investing in new optical brain-washing equipment. It has two options as follows, and each has a 6-year life. The company's minimum rate of return is 8%. Initial cost Option A $133,000 Option B $150,000 Net Cash Inflows expected from each investment Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 $ 30,000 $ 30,000 $ 30,000 $ 30,000 $ 30,000 $ 30,000 $ 70,000 $ 50,000 $ 40,000 $ 30,000 $ 20,000 $ 10,000 Instructions (a) Using the table below, compute the net present value of each option. PV of Cash Flows Option A Option B Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Total PV of Cash Flows Investment Net Present Value Option A Option B (b) Which option should Anna choose (circle one)? (c) What is the approximate Internal Rate of Return for Option A? Show your work.
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Explanation & Answer

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STRATTEN FLEXIBLE BUDGET
Description
workings
Amount
Direct Materials
12,000/2,200*900
4,909
Direct labour
6000/2200*900
2,455
Variable overhead
8000/2200*900
3,273
Factory depreciation
11,000
Other fixed factory costs
3,500
Total budgeted cost

25,136

April
Budgeted production
Pounds of wax per candle
Wax needed for production
Desired wax in ending inventory 20% * 16500*1/4
Wax needed
Wax in the biginning inve...


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