Question Details

(solution) LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT



Week Four Assignment


  1. Listen to the following videos and then complete the assignments using the changed numbers on the guidance report.  Place your answers on the guidance report.
  2. Open the Guidance Report and rework the problem with the changed numbers and place your answers on the guidance report. Do not alter the guidance report.
  3. Submit the guidance report using the Assignment Submission tab below.

Complete the following problems and exercises:

  • Chapter Six Exercise 2
  • Chapter Six Exercise 5
  • Chapter Six Problem 3
  • Chapter Seven Exercise 5
  • Chapter Seven Problem 5

Week Four Guidance Report

Chapter 6 Exercise 2

The above video can also be accessed using this link: http://ashford.mediaspace.kaltura.com/media/ACC206A+Chapter+6+Exercise+2/0_ggcovwwr

Chapter 6 Exercise 5

The above video can also be accessed using this link: http://ashford.mediaspace.kaltura.com/media/ACC206A+Chapter+6+Exercise+5/0_aoiw6r4l

Chapter 6 Problem 3

The above video can also be accessed using this link: http://ashford.mediaspace.kaltura.com/media/ACC206A+Chapter+6+Problem+3/0_cajxb3ml

Chapter 7 Exercise 5

The above video can also be accessed using this link: http://ashford.mediaspace.kaltura.com/media/ACC206A+Chapter+7+Exercise+5/0_y4cimsga

Chapter 7 Problem 5

The above video can also be accessed using this link: http://ashford.mediaspace.kaltura.com/media/ACC206A+Chapter+7+Problem+5/0_dszrqdrc


LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT Exercise/

 

Problem

 

Ch 6 EX 2 Account to

 

be changed

 

Sales May

 

Sales June

 

Sales July

 

Questions

 

Cash Collections May

 

Beginning balance

 

Current month A/R sale collections

 

Previous month A/R sale collections

 

Cash sales

 

Ending balance

 

Cash Collections June

 

Current month A/R sale collections

 

Previous month A/R sale collections

 

Cash sales

 

Ending balance Cash Collections July

 

Current month A/R sale collections

 

Previous month A/R sale collections

 

Cash sales

 

Ending balance

 

A/R ending balance AUDIO/VIDEO EX 5 <<<<CLICK HERE

 

Ch 6 Ex 5 Account to

 

be changed

 

July Beginning cash balance

 

August Cash receipts

 

September Cash receipts July

 

Beginning cash balance

 

Add: Cash receipts

 

Deduct: Cash payments

 

Cash excess (deficiency) before financing

 

Financing:

 

Borrowing to maintain minimum balance

 

Principal repayment

 

Interest payment

 

Ending cash balance

 

August

 

Beginning cash balance

 

Add: Cash receipts

 

Deduct: Cash payments

 

Cash excess (deficiency) before financing

 

Financing:

 

Borrowing to maintain minimum balance

 

Principal repayment

 

Interest payment

 

Ending cash balance

 

September

 

Beginning cash balance

 

Add: Cash receipts

 

Deduct: Cash payments

 

Cash excess (deficiency) before financing

 

Financing:

 

Borrowing to maintain minimum balance Principal repayment

 

Interest payment

 

Ending cash balance Ch 6 Pb 3 Forcasted sales Jan

 

Forcasted sales Feb

 

Forcasted sales Mar

 

Forcasted sales Apr WATSON COMPANY

 

SALES BUDGET

 

FOR THE QUARTER ENDED MARCH 31, 20X2

 

Jan

 

Expected sales (units)

 

Selling price per unit

 

Budgeted sales revenue

 

Feb

 

Expected sales (units)

 

Selling price per unit

 

Budgeted sales revenue

 

Mar

 

Expected sales (units)

 

Selling price per unit

 

Budgeted sales revenue

 

SCHEDULE OF CASH COLLECTIONS

 

Accounts receivable 12/31/X1

 

Jan Collections

 

Feb Collections

 

Feb collections of Jan sales

 

Mar Collections

 

Mar collections of Feb sales

 

Total budgeted cash collections

 

PRODUCTION BUDGET Jan

 

Number of units sold

 

Desired ending finished goods

 

Total finished units needed

 

Less beginning inventory finished goods

 

Number of units to produce

 

Feb

 

Number of units sold

 

Desired ending finished goods

 

Total finished units needed

 

Less beginning inventory finished goods

 

Number of units to produce

 

Mar

 

Number of units sold

 

Desired ending finished goods

 

Total finished units needed

 

Less beginning inventory finished goods

 

Number of units to produce

 

DIRECT MATERIAL PURCHASES BUDGET

 

FOR THE QUARTER ENDED MARCH 31, 20X2

 

Jan

 

Planned production, in units

 

Units of direct material per per finished unit

 

Direct materials used in production (units)

 

Add: Desired ending direct materials inventory

 

(60% of following month's needs)

 

Total direct materials needed

 

Less: Beginning direct materials inventory (units)

 

Direct materials to be purchased (units)

 

Cost per unit

 

Cost of direct material purchases

 

Feb

 

Planned production, in units

 

Units of direct material per per finished unit

 

Direct materials used in production (units)

 

Add: Desired ending direct materials inventory

 

(60% of following month's needs)

 

Total direct materials needed

 

Less: Beginning direct materials inventory (units)

 

Direct materials to be purchased (units)

 

Cost per unit Cost of direct material purchases

 

Mar

 

Planned production, in units

 

Units of direct material per per finished unit

 

Direct materials used in production (units)

 

Add: Desired ending direct materials inventory

 

(60% of following month's needs)

 

Total direct materials needed

 

Less: Beginning direct materials inventory (units)

 

Direct materials to be purchased (units)

 

Cost per unit

 

Cost of direct material purchases SCHEDULE OF CASH DISBURSEMENTS FOR MATERIAL PURCHASES

 

Jan

 

Accounts pay., 12/31/X1

 

Jan. purchases

 

Feb. purchases

 

March purchases

 

Total disbursements for purchases

 

Feb

 

Accounts pay., 12/31/X1

 

Jan. purchases

 

Feb. purchases

 

March purchases

 

Total disbursements for purchases

 

Mar

 

Accounts pay., 12/31/X1

 

Jan. purchases

 

Feb. purchases

 

March purchases

 

Total disbursements for purchases

 

DIRECT LABOR BUDGET

 

Jan

 

Planned production (units)

 

Labor time per unit (hours)

 

Total labor hours needed

 

Direct labor cost per hour

 

Total budgeted direct labor cost Feb

 

Planned production (units)

 

Labor time per unit (hours)

 

Total labor hours needed

 

Direct labor cost per hour

 

Total budgeted direct labor cost

 

Mar

 

Planned production (units)

 

Labor time per unit (hours)

 

Total labor hours needed

 

Direct labor cost per hour

 

Total budgeted direct labor cost Ch 7 Ex 5

 

Account to

 

be changed

 

Estimated fixed overhead

 

Estimated direct labor hours a. Variable Overhead Efficiency Variance

 

Actual

 

Quantity

 

The Amount the

 

of Input at ActuActual Quantity

 

Prices (Aq X Ap)of Input Should

 

Have Cost ?

 

Variable: (Aq X Sp)

 

Fixed: Budget

 

ACT Lab Hrs X est rate

 

a. Variable Overhead Efficiency Variance

 

b. Fixed Overhead Volumn Variance

 

N/A

 

Fixed Budgeted Standard Quantity

 

of Input

 

Allowed for

 

Production, at

 

Standard Prices

 

(Sq X Sp)

 

Est rate X Units manu x std lab hrs

 

a. Variable Overhead Efficiency Variance

 

Applied Fixed Overhead

 

(Est fix/ est hrs)x units man x std lab hrs Actual Fixed Overhead

 

Budgeted Fixed Overhead

 

Act Oh -(Est var oh/est hrs x act lab hrs) b. Fixed Overhead Volumn Variance

 

c. Overhead spending variance

 

Actual Fixed Ov Budgeted Fixed Overhead

 

Act Oh -(Est var oh/est hrs x act lab hrs) c. Overhead spending variance Account to

 

be changed Ch 7 Pb 5

 

Actual production a. Compute Arrow?s direct material variances.

 

Act cost

 

Std cost

 

Act Qty

 

Act Qty Std cost

 

Std Qty

 

Materials Quantity Variance

 

Materials Price Variance

 

Total Materials Variance b. Compute Arrow?s labor variances.

 

Act rate

 

Act hrs Std rate

 

Act hrs c. Compute Arrow?s variances for factory overhead.

 

Variable overhead efficiency variance

 

Actual QuantityThe Amount the

 

of Input at ActuActual Quantity

 

Prices (Aq X Ap)of Input Should

 

Have Cost ?

 

Variable: (Aq X Sp)

 

Fixed: Budget

 

Inc hours x std rate Std rate

 

Std hrs

 

Labor Efficiency Variance

 

Labor Rate Variance

 

Total Labor Variance The amount

 

of Input

 

Allowed for

 

Production, at

 

Standard Prices

 

(Sq X Sp)

 

Act pro x OH std hrs x std rate N/A

 

Variable overhead efficiency variance

 

d. Fixed Overhead Volume Variance

 

Fixed Budgeted

 

yearly/12 Applied Fixed Overhead

 

Std rat x act prod x fix OH rate

 

Fixed Overhead Volume Variance e. Overhead spending variance

 

Actual Fixed Ov Budgeted Fixed Overhead

 

Incur OH- var rate x hours

 

Overhead spending variance Ashford University ACC206

 

Guidance Report

 

Week Four YELLOW INDICATES ACCOUNT AMOUNTS CHANGED

 

Change Account to:

 

Change to: Based Upon Course Start Date

 

Original

 

Amount

 

60000

 

80000

 

85000

 

YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE Jan - Feb

 

65000

 

85000

 

90000 Mar - Apr

 

70000

 

90000

 

95000 May - Jun

 

75000

 

95000

 

100000 Jul - Aug

 

80000

 

100000

 

105000 Sep - Oct

 

85000

 

105000

 

110000 Nov - Dec

 

90000

 

110000

 

115000 Original

 

Amount

 

10000 $

 

63000 $

 

71000 $

 

YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE 9,000 $

 

64,000 $

 

72,000 $ 11,000 $

 

62,000 $

 

70,000 $ 8,000 $

 

65,000 $

 

73,000 $ 12,000 $

 

61,000 $

 

69,000 $ 7,000 $

 

66,000 $

 

74,000 $ 13,000

 

60,000

 

68,000 1500

 

1600

 

1800

 

2000 YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE Jan - Feb

 

1600

 

1700

 

1900

 

2000 Mar - Apr

 

1700

 

1800

 

2000

 

2100 May - Jun

 

1800

 

1900

 

2000

 

2100 Jul - Aug

 

1900

 

2000

 

2100

 

2200 Sep - Oct

 

2000

 

2100

 

2200

 

2300 R MATERIAL PURCHASES Original

 

Amount

 

400000

 

40000 YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE 410000

 

40000 420000

 

40000 430000

 

40000 440000

 

40000 450000

 

40000 460000

 

40000 Original

 

Amount

 

Book

 

amounts

 

6500 YOUR ANSWERS

 

BASED UPON

 

COURSE START

 

DATE 6600 6700 6800 6900 7000 7100 Nov - Dec

 

2100

 

2200

 

2300

 

2400

 


Solution details:

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Sep 13, 2020

EXPERT

Tutor

ANSWER RATING

GET INSTANT HELP/h4>

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.

Order Now