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ACC 349 PAPER Enthusiastic Study / acc349paper.com

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Tutorial

ACC 349 Entire Course and Final Guide

 

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ACC 349 Entire Course and Final Guide

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ACC 349 Entire Course

 

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ACC 349 Week 1 Individual Assignment  BYP 1-7, E1-7

ACC 349 Week 1 Discussion Question 1

ACC 349 Week 1 Discussion Question 2

ACC 349 Week 2 Individual Assignment Assignments CH 2 & 3

ACC 349 Week 2 Team Assignment Problems  Ch. 2 & 3

ACC 349 Week 2 Team Assignment Case Study BYP 2-2

ACC 349 Week 2 Discussion Question 1

ACC 349 Week 2 Discussion Question 2

ACC 349 Week 3 Individual Assignment Article Analysis Summary

ACC 349 Week 3 Individual Assignment Assignments  Ch. 4

ACC 349 Week 3 Team Assignment Problems  Ch. 4

ACC 349 Week 3 Team Assignment Case Study Ch. 4

ACC 349 Week 3 Discussion Question 1

ACC 349 Week 3 Discussion Question 2

ACC 349 Week 4 Individual Assignment Ch. 5 & 6

ACC 349 Week 4 Team Assignment Problems  Ch. 7

ACC 349 Week 4 Team Assignment Case Study Ch. 6

ACC 349 Week 4 Discussion Question 1

ACC 349 Week 4 Discussion Question 2

ACC 349 Week 5 Individual Assignment Ch. 8, 9, & 11

ACC 349 Week 5 Team Assignment Problems  Ch. 8 & 11

ACC 349 Week 5 Discussion Question 1

ACC 349 Week 5 Discussion Question 2

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ACC 349 Final Exam Guide (New 2017 with Excel sheet)

 

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Excel Sheet can be used for any change in values, it automatically gives correct answers 1. The following costs were incurred in September: Direct materials $42,700 Direct labor $29,400 Manufacturing overhead $27,300 Selling expenses     $23,600 Administrative expenses      $33,700 Conversion costs during the month totaled: 2. A soft drink bottler incurred the following factory utility cost: $3,861 for 950 cases bottled and $3,922 for 1,200 cases bottled. Factory utility cost is a mixed cost containing both fixed and variable components. The variable factory utility cost per case bottled is closest to: 3 The following cost data pertain to the operations of Swestka Department Stores, Inc., for the month of July. Corporate headquarters building lease          $87,600 Cosmetics Department sales commissions--Northridge Store        $5,230 Corporate legal office salaries       $60,500 Store manager's salary-Northridge Store          $17,200 Heating-Northridge Store         $20,200 Cosmetics Department cost of sales--Northridge Store         $37,400 Central warehouse lease cost    $11,100 Store security-Northridge Store     $18,900 Cosmetics Department manager's salary--Northridge Store $4,150 The Northridge Store is just one of many stores owned and operated by the company. The Cosmetics Department is one of many departments at the Northridge Store. The central warehouse serves all of the company's stores. What is the total amount of the costs listed above that are direct costs of the Cosmetics Department? 4 Erkkila Inc. reports that at an activity level of 6,400 machine-hours in a month, its total variable inspection cost is $425,930 and its total fixed inspection cost is $179,493. What would be the average fixed inspection cost per unit at an activity level of 6,700 machine-hours in a month? Assume that this level of activity is within the relevant range. 5. Nikkel Corporation, a merchandising company, reported the following results for July: Sales     $407,000 Cost of goods sold (all variable)     $173,400 Total variable selling expense   $20,400 Total fixed selling expense      $22,200 Total variable administrative expense         $14,800 Total fixed administrative expense   $39,700 The contribution margin for July is: 6 Job 593 was recently completed. The following data have been recorded on its job cost sheet: Direct materials          $2,412 Direct labor-hours          74 labor-hours Direct labor wage rate    $ 21 per labor-hour Machine-hours          137 machine-hours The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $22 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 593 would be: 7 The Assembly Department started the month with 19,500 units in its beginning work in process inventory. An additional 285,000 units were transferred in from the prior department during the month to begin processing in the Assembly Department. There were 45,250 units in the ending work in process inventory of the Assembly Department. How many units were transferred to the next processing department during the month? 8 Lasseter Corporation has provided its contribution format income statement for August. The company produces and sells a single product. If the company sells 5,200 units, its total contribution margin should be closest to: 9 Olds Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced   5,400 Variable costs per unit:        Direct materials  $88 Direct labor          $79 Variable manufacturing overhead   $7 Variable selling and administrative expense      $13 Fixed costs: Fixed manufacturing overhead      $210,600 Fixed selling and administrative expense  $388,800 There were no beginning or ending inventories. The absorption costing unit product cost was: 10 Zurasky Corporation is considering two alternatives: A and B. Costs associated with the alternatives are listed below: Alternative A      Alternative B Materials costs         $22,000 $52,000 Processing costs          $28,000 $28,000 Equipment rental       $10,100 $28,200 Occupancy costs          $10,500 $22,000 What is the differential cost of Alternative B over Alternative A, including all of the relevant costs? 11 Bossie Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following data concerning its costs and its activity based costing system: Costs:       Wages and salaries $284,000 Depreciation         268,000 Utilities          221,000 Total     $773,000 Distribution of resource consumption: Activity Cost Pools      Assembly  Setting up          Other          Total Wages and salaries      45% 35% 20% 100% Depreciation          30% 10% 60% 100% Utilities      15% 65% 20% 100% How much cost, in total, would be allocated in the first-stage allocation to the Assembly activity cost pool? 12 The cash budget is usually prepared after the budgeted income statement. True False 13 Cadavieco Detailing's cost formula for its materials and supplies is $2,090 per month plus $15 per vehicle. For the month of November, the company planned for activity of 89 vehicles, but the actual level of activity was 49 vehicles. The actual materials and supplies for the month was $2,660. The materials and supplies in the planning budget for November would be closest to: Q-14 Aide Industries is a division of a major corporation. Data concerning the most recent year appears below: Sales    $18,120,000 Net operating income  $1,177,800 Average operating assets $4,450,000 The division's return on investment (ROI) is closest to: (Round your answer to 2 decimal places.) Q-15 Blue Corporation's standards call for 5,800 direct labor-hours to produce 1,450 units of product. During May 1,050 units were produced and the company worked 1,350 direct labor-hours. The standard hours allowed for May production would be: Q-16 The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output 6.0 hours Standard variable overhead rate $12.40 per hour The following data pertain to operations for the last month: Actual hours    2,600 hours Actual total variable manufacturing overhead cost         $32,870 Actual output         250 units What is the variable overhead efficiency variance for the month? What is the variable overhead efficiency variance for the month? 17 Wyly Inc. produces and sells a single product. The selling price of the product is $240.00 per unit and its variable cost is $88.80 per unit. The fixed expense is $374,598 per month. The break-even in monthly dollar sales is closest to: (Round your intermediate calculations to 2 decimal places.) Use excel sheet for any change in values 18 Part O43 is used in one of Scheetz Corporation's products. The company's Accounting Department reports the following costs of producing the 16,400 units of the part that are needed every year. An outside supplier has offered to make the part and sell it to the company for $32.00 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company. If the outside supplier's offer were accepted, only $22,400 of these allocated general overhead costs would be avoided. Required: a. Prepare a report that shows the effect on the company's total net operating income of buying part O43 from the supplier rather than continuing to make it inside the company. (Input the amount as a positive value. Omit the "$" sign in your response.) Net operating income would decrease be by $ . Make 19 Activity rates from Quattrone Corporation's activity-based costing system are listed below. The company uses the activity rates to assign overhead costs to products: Activity Cost Pools Activity Rate Processing customer orders $94.07 per customer order Assembling products $2.87 per assembly hour Setting up batches $62.33 per batch Last year, Product F76D involved 3 customer orders, 464 assembly hours, and 21 batches. How much overhead cost would be assigned to Product F76D using the activity-based costing system? 20 The Gasson Company uses the weighted-average method in its process costing system. The company's ending work in process inventory consists of 12,000 units, The ending work in process inventory is 100% complete with respect to materials and 70% complete with respect to labor and overhead. If the costs per equivalent unit for the period $4.10 for the materials and $1.30 for labor and overhead, whatis the balance of the ending work in process inventory account would be: (Do not round Cost per equivalent unit)

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ACC 349 Final Exam Guide

 

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1) What does cost accounting measure, record, and report?

2) What is the best way to handle manufacturing overhead costs in order to get the most timely job cost information?

   

3) At the end of the year, manufacturing overhead has been overapplied. What occurred to create this situation?

   

4) Which of the following would be accounted for using a job order cost system?

5) In a job order cost accounting system, the Work in Process account is

   

6) Which one of the following is an important feature of a job order cost system?

7) Which one of the following is indirect labor considered?

8) Which of the following is an element of manufacturing overhead?

9) Which one of the following costs would be included in manufacturing overhead of a lawn mower manufacturer?

10) A well-designed activity-based costing system starts with

11) An activity that has a direct cause-effect relationship with the resources consumed is a(n)

12) In traditional costing systems, overhead is generally applied based on

13) All of the following statements are correct EXCEPT that

14) Which of the following is a value-added activity?

15) Which of the following is a nonvalue-added activity?

16) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and inspecting, $600,000. Information on the two products is:

   

    Mini A     Maxi B

Direct labor hours     15,000     25,000

Machine setups     600     400

Machine hours     24,000     26,000

Inspections     800     700

   

Overhead applied to Mini A using activity-based costing is

17) Poodle Company manufactures two products, Mini A and Maxi B. Poodle's overhead costs consist of setting up machines, $800,000; machining, $1,800,000; and inspecting, $600,000. Information on the two products is:

   

    Mini A     Maxi B

Direct labor hours     15,000     25,000

Machine setups     600     400

Machine hours     24,000     26,000

Inspections     800     700

   

Overhead applied to Mini A using traditional costing using direct labor hours is

18) Which of the following factors would suggest a switch to activity-based costing?

19) Rosen, Inc. has 10,000 obsolete calculators, which are carried in inventory at a cost of $20,000. If the calculators are scrapped, they can be sold for $1.10 each (for parts). If they are repackaged, at a cost of $15,000, they could be sold to toy stores for $2.50 per unit. What alternative should be chosen, and why?

20) Walton, Inc. is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $16, while the cost of assembling each unit is estimated at $17. Unassembled units can be sold for $55, while assembled units could be sold for $71 per unit. What decision should Walton make?

21) The cost to produce Part A was $10 per unit in 2005. During 2006, it has increased to $11 per unit. In 2006, Supplier Company has offered to supply Part A for $9 per unit. For the make-or-buy decision,

22) Hess, Inc. sells a single product with a contribution margin of $12 per unit and fixed costs of $74,400 and sales for the current year of $100,000. How much is Hess’s break-even point?

23) Hartley, Inc. has one product with a selling price per unit of $200, the unit variable cost is $75, and the total monthly fixed costs are $300,000. How much is Hartley’s contribution margin ratio?

24) H55 Company sells two products, beer and wine. Beer has a 10 percent profit margin and wine has a 12 percent profit margin. Beer has a 27 percent contribution margin and wine has a 25 percent contribution margin. If other factors are equal, which product should H55 push to customers?

25) Which cost is charged to the product under variable costing?

26) Which cost is NOT charged to the product under variable costing?

27) Variable costing

28) If a company is concerned with the potential negative effects of establishing standards, they should

29) The difference between a budget and a standard is that

30) A standard cost is

31) The per-unit standards for direct labor are 2 direct labor hours at $12 per hour. If in producing 2,400 units, the actual direct labor cost was $51,200 for 4,000 direct labor hours worked, the total direct labor variance is

32) The total variance is $10,000. The total materials variance is $4,000. The total labor variance is twice the total overhead variance. What is the total overhead variance?

33) The per-unit standards for direct materials are 2 gallons at $4 per gallon. Last month, 11,200 gallons of direct materials that actually cost $42,400 were used to produce 6,000 units of product. The direct materials quantity variance for last month was

34) If the standard hours allowed are less than the standard hours at normal capacity,

35) Manufacturing overhead costs are applied to work in process on the basis of

36) The overhead volume variance relates only to

37) At January 1, 2004, Barry, Inc. has beginning inventory of 4,000 widgets. Barry estimates it will sell 35,000 units during the first quarter of 2004 with a 10% increase in sales each quarter. Barry’s policy is to maintain an ending inventory equal to 25% of the next quarter’s sales. Each widget costs $1 and is sold for $1.50. How much is budgeted sales revenue for the third quarter of 2004?

38) Lewis Hats is planning to sell 600 straw hats. Each hat requires a half pound of straw and a quarter hour of direct labor. Straw costs $0.20 per pound and employees of the company are paid $22 per hour. Lewis has 80 pounds of straw and 40 hats in beginning inventory and wants to have 50 pounds of straw and 60 hats in ending inventory. How many units should Lewis Hats produce in April?

39) Gottberg Mugs is planning to sell 2,000 mugs and produce 2,200 mugs during April. Each mug requires 2 pounds of resin and a half hour of direct labor. Resin costs $1 per pound and employees of the company are paid $12.50 per hour. Manufacturing overhead is applied at a rate of 120% of direct labor costs. Gottberg has 2,000 pounds of resin in beginning inventory and wants to have 2,400 pounds in ending inventory. How much is the total amount of budgeted direct labor for April?

40) The cost-plus pricing approach's major advantage is

41) A company must price its product to cover its costs and earn a reasonable profit in

42) Prices are set by the competitive market when

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ACC 349 Wee 5 Team Assignment Part 3 (Jeemp Farms)

 

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You have completed the analysis of ABC and determined whether it is a good option for Jeemp Farms. Create a 5- to 10-slide presentation with speaker notes for Jeemp Farms management that addresses the following: •    Explain ABC costing and how it is different than traditional costing. •         Explain the advantages/disadvantages of using ABC costing. • Define the terminology that is used in an ABC costing system. • Explain whether ABC is the preferential system for Jeemp Farms and why. • Recommend whether the company should discontinue the sod portion of the business and what outside factors might need to be considered prior to doing so. •         List any non-financial factors that should be considered in decisions the company makes. •    Include at least three outside credible sources in APA formatting at the end of your presentation so the management will know how to access more information about ABC. Format your assignment to APA standards. Click the Assignment Files tab to submit your assignment.

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ACC 349 Week 1 Discussion Question 1

 

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What are some of the key differences between financial and managerial accounting? How do these differences impact the type of information that must be gathered and reported? What are the different types of decisions that users of financial accounting information must make? What are the different types of decisions that users of managerial accounting information must make?

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ACC 349 Week 1 Discussion Question 2

 

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What are the differences between a direct cost and an indirect cost? Which is the more difficult cost to track? Why? How do indirect costs affect the cost of a product? Should indirect costs be included in product cost? Why or why not?

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ACC 349 Week 1 Individual Assignment BYP 1-7, E1-7

 

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Prepare written responses to the following assignments from Ch. 1 of Managerial Accounting: Tools for Business Decision Making:

Exercise E1-7 exercise #7 only

Ethics Case BYP 1-7 case #7 only

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ACC 349 Week 1 Lab Problems

 

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Week 1 • Question 1   Segregation of duties o         is a preventive control o       is a detective control o       separates responsibilities for authorizing transactions, recording transactions, and maintaining custody of the related assets • Question 2     The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: Costs incurred: Direct labor cost $ 87,000 Purchases of raw materials $ 131,000 Manufacturing overhead $ 208,000 Advertising expense    $ 46,000 Sales salaries       $ 102,000 Depreciation, office equipment $ 228,000 Beginning End of of the Year the year Inventories: Raw materials $ 8,900 $10,100 Work in process $ 5,400 $21,000 Finished goods $76,000 $25,800 Required: 1. Prepare a schedule of cost of goods manufactured. 2.    Prepare the cost of goods sold section of Mason Company’s income statement for the year. • Question 3 Award: 10 out of 10.00 points Arden Company reported the following costs and expenses for the most recent month:          Direct materials $83,000 Direct labor $45,000 Manufacturing overhead    $22,000 Selling expenses $25,000 Administrative expenses $38,000 Required: 1. What is the total amount of product costs? 2.  What is the total amount of period costs? 3.   What is the total amount of conversion costs? 4.         What is the total amount of prime costs? • Question 4 6       Mickley Company’s predetermined overhead rate is $23.00 per direct laborhour and its direct labor wage rate is $13.00 per hour. The following information pertains to Job A500: Required: 1. What is the total manufacturing cost assigned to Job A500? 2. If Job A500 consists of 40 units, what is the average cost assigned to each unit included in the job? • Question 5 Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow: Percent Complete Units Materials Conversion Work in process inventory, May 1 74,000 65% 30% Work in process inventory, May 31 54,000 40% 20% Materials cost in work in process inventory, May 1 $ 58,800 Conversion cost in work in process inventory, May 1 $ 17,500 Units started into production 262,400 Units transferred to the next production department 282,400 Materials cost added during May $ 400,240 Conversion Cost Added During May $ 252,244 Required: 1. Assume that the company uses the weightedaverage method of accounting for units and costs.Determine the equivalent units for May for the first process. 2. Compute the costs per equivalent unit for May for the first process. 3. Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May. • Question 6       Financial accounting focuses on decisions affecting the future. False True • Question 7 Managerial Accounting creates reports for managers within the organization while financial accounting creates reports outside the organization. True False • Question 8 The IMA Statement of Ethical Professional Practice standards include all of the following EXCEPT: Honesty Credibility Confidence Competence

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ACC 349 Week 2 Connect Problems (with Excel Sheet)

 

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This Tutorial contains Excel Sheet which can be used for any values Week 2 • Question 1 The Hartford Symphony Guild is planning its annual dinnerdance. The dinnerdance committee has assembled the following expected costs for the event: Dinner (per person) $10 Favors and program (per person) $4 Band $700 Rental of ballroom $2,000 Professional entertainment during intermission $2,000 Tickets and advertising $700 The committee members would like to charge $41 per person for the evening’s activities. Required: 1. Compute the breakeven point for the dinnerdance (in terms of the number of persons who must attend). 2. Assume that last year only 200 persons attended the dinnerdance.If the same number attend this year, what price per ticket must be charged in order to break even? 3. Refer to the original data ($41 ticket price per person). Prepare a CVP graph for the dinnerdance from zero tickets up to 550 tickets sold. • Question 2 Walsh Company manufactures and sells one product. The following information pertains to each of the company’s first two years of operations: Variable costs per unit: Manufacturing: Direct materials $ 21 Direct labor $ 11 Variable manufacturing overhead $ 4 Variable selling and administrative $ 3 Fixed costs per year: Fixed manufacturing overhead $ 320,000 Fixed selling and administrative expenses $ 100,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company’s product is $51 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for year 1 and year 2. b. Prepare an income statement for year 1 and year 2. 2. Assume the company uses absorption costing: a. Compute the unit product cost for year 1 and year 2. b. Prepare an income statement for year 1 and year 2. 3. Reconcile the difference between variable costing and absorption costing net operating income in year 1and year 2. • Question 3 Award: 6 out of 6.00 points Barlow Company manufactures three products: A, B, and C. The selling price, variable costs, and contribution margin for one unit of each product follow: Product A B C Selling price $240 $ 320 $ 300 Variable expenses: Direct materials 18 72 27 Other variable expenses 174 152 228 Total variable expenses 192 224 255 Contribution margin $ 48 $ 96 $ 45 Contribution margin ratio 20% 30% 15% The same raw material is used in all three products. Barlow Company has only 4,900 pounds of raw material on hand and will not be able to obtain any more of it for several weeks due to a strike in its supplier’s plant. Management is trying to decide which product(s) to concentrate on next week in filling its backlog of orders. The material costs $9 per pound. Required: 1. Compute the amount of contribution margin that will be obtained per pound of material used in each product. 2. a. Compute the amount of contribution margin on each product. b. Which orders would you recommend that the company work on next week—the orders for product A,product B, or product C? 3. .A foreign supplier could furnish Barlow with additional stocks of the raw material at a substantial premium over the usual price. If there is unfilled demand for all three products, what is the highest price that Barlow Company should be willing to pay for an additional pound of materials? • Question 4. Award: 6 out of 6.00 points Imperial Jewelers is considering a special order for 24 handcrafted gold bracelets to be given as gifts to members of a wedding party. The normal selling price of a gold bracelet is $408.00 and its unit product cost is $268.00 as shown below: Direct materials $ 147 Direct labor 81 Manufacturing overhead 40 Unit product cost $ 268 Most of the manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $11 of the overhead is variable with respect to the number of bracelets produced. The customer who is interested in the special bracelet order would like special filigree applied to the bracelets. This filigree would require additional materials costing $10 per bracelet and would also require acquisition of a special tool costing $457 that would have no other use once the special order is completed. This order would have no effect on the company’s regular sales and the order could be fulfilled using the company’s existing capacity without affecting any other order. Required: a. What effect would accepting this order have on the company’s net operating income if a special price of $368.00 per bracelet is offered for this order? b. Should the special order be accepted at this price?

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ACC 349 Week 2 Discussion Question 1

 

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What is activity-based costing? What are some of the key elements of activity-based costing? How does this method differ from a more traditional costing method?

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ACC 349 Week 2 Discussion Question 2

 

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What are value-added processes? How do you determine if a process adds value? How does identification of value-added processes help a company run more efficiently and effectively?

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ACC 349 Week 2 Individual Assignment Assignments CH 2 and 3

 

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Prepare written responses to the following assignments from Managerial Accounting: Tools for Business Decision Making:

Ch. 2 – Exercises E-2-6 and E2-9

Ch. 3 – Exercises E3-5 and E3-9

Ch. 3 – Questions 2 and 3

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ACC 349 Week 2 Lab Problems

 

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Week 2 • Question 1   The Hartford Symphony Guild is planning its annual dinnerdance. The dinnerdance committee has assembled the following expected costs for the event: Dinner (per person) $10 Favors and program (per person) $4 Band $700 Rental of ballroom      $2,000 Professional entertainment during intermission $2,000 Tickets and advertising         $700 The committee members would like to charge $41 per person for the evening’s activities. Required: 1. Compute the breakeven point for the dinnerdance (in terms of the number of persons who must attend). 2. Assume that last year only 200 persons attended the dinnerdance.If the same number attend this year, what price per ticket must be charged in order to break even? 3. Refer to the original data ($41 ticket price per person). Prepare a CVP graph for the dinnerdance from zero tickets up to 550 tickets sold. • Question 2     Walsh Company manufactures and sells one product. The following information pertains to each of the company’s first two years of operations: Variable costs per unit: Manufacturing: Direct materials $ 21 Direct labor $ 11 Variable manufacturing overhead  $ 4 Variable selling and administrative $ 3 Fixed costs per year: Fixed manufacturing overhead        $ 320,000 Fixed selling and administrative expenses $ 100,000 During its first year of operations, Walsh produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the company’s product is $51 per unit. Required: 1. Assume the company uses variable costing: a. Compute the unit product cost for year 1 and year 2. b. Prepare an income statement for year 1 and year 2. 2. Assume the company uses absorption costing: a. Compute the unit product cost for year 1 and year 2. b. Prepare an income statement for year 1 and year 2. 3. Reconcile the difference between variable costing and absorption costing net operating income in year 1and year 2. • Question 3     Award: 6 out of 6.00 points Barlow Company manufactures three products: A, B, and C. The selling price, variable costs, and contribution margin for one unit of each product follow: Product A B C Selling price $240 $ 320 $ 300 Variable expenses: Direct materials 18 72 27 Other variable expenses 174 152 228 Total variable expenses 192 224 255 Contribution margin $ 48 $ 96 $ 45 Contribution margin ratio 20% 30% 15% The same raw material is used in all three products. Barlow Company has only 4,900 pounds of raw material on hand and will not be able to obtain any more of it for several weeks due to a strike in its supplier’s plant. Management is trying to decide which product(s) to concentrate on next week in filling its backlog of orders. The material costs $9 per pound. Required: 1. Compute the amount of contribution margin that will be obtained per pound of material used in each product. 2. a. Compute the amount of contribution margin on each product. b. Which orders would you recommend that the company work on next week—the orders for product A,product B, or product C? 3.  .A foreign supplier could furnish Barlow with additional stocks of the raw material at a substantial premium over the usual price. If there is unfilled demand for all three products, what is the highest price that Barlow Company should be willing to pay for an additional pound of materials? • Question 4. Award: 6 out of 6.00 points Imperial Jewelers is considering a special order for 24 handcrafted gold bracelets to be given as gifts to members of a wedding party. The normal selling price of a gold bracelet is $408.00 and its unit product cost is $268.00 as shown below: Direct materials      $ 147 Direct labor       81 Manufacturing overhead 40 Unit product cost $ 268 Most of the manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $11 of the overhead is variable with respect to the number of bracelets produced. The customer who is interested in the special bracelet order would like special filigree applied to the bracelets. This filigree would require additional materials costing $10 per bracelet and would also require acquisition of a special tool costing $457 that would have no other use once the special order is completed. This order would have no effect on the company’s regular sales and the order could be fulfilled using the company’s existing capacity without affecting any other order. Required: a.  What effect would accepting this order have on the company’s net operating income if a special price of $368.00 per bracelet is offered for this order? b.        Should the special order be accepted at this price?

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ACC 349 Week 2 Team Assignment Case Study BYP 2-2

 

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Prepare written responses to the following case study from Ch. 2 of Managerial Accounting: Tools for Business Decision Making:

Managerial Analysis BYP 2-2

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ACC 349 Week 2 Team Assignment Problems Ch. 2 and 3

 

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Prepare written responses to the following problems from Managerial Accounting: Tools for Business Decision Making:

Ch. 2 – Problem P2-4A

Ch. 3 – Problem P3-3A

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ACC 349 Week 3 Connect Problems (with Excel Sheet)

 

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This Tutorial contains Excel Sheet which can be used for any values Q-1 Lehner Corporation has provided the following data from its activity-based costing accounting system: Indirect factory wages $552,000        Factory equipment depreciation $332,000          Distribution of Resource Consumption across Activity Cost Pools:  The "Other" activity cost pool consists of the costs of idle capacity and organization-sustaining costs that are not assigned to products.  How much indirect factory wages and factory equipment depreciation cost would NOT be assigned to products using the activity-based costing system? Q-2 For years, Worley believed that the 6% markup covered its selling and administrative expenses and          provided a reasonable profit. However, in the face of declining profits Worley decided to implement an activitybased        costing system to help improve its understanding of customer profitability. The company          broke its selling and administrative expenses into five activities as shown below:          Q-3 SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los    Angeles area. The company is implementing an activitybased costing system that has four activity cost        pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries for the Pickup and Delivery cost pool, and number of customers for the Customer Service cost pool. The Other cost pool has no activity measure because it is an organizationsustaining       activity. The following costs will be assigned using the activitybased   costing       system:      Q-4 Reasons a company may decide not to use ABC include      ABC tends to be more expensive to implement and maintain than the traditional method.    ABC does not conform to external reporting requirements.      Some arbitrary allocations will still occur and managers who are not knowledgeable in the limitations of an ABC system may make mistakes in pricing and other critical decisions.         Q-4 When a company shifts from a traditional cost system in which manufacturing overhead is applied based on direct labor-hours to an activitybased costing system with batch-level and product-level costs, the unit product costs of low volume products typically decrease whereas the unit product costs of high volume products typically increase.       Q-5 Which of the following would probably be the most accurate measure of activity to use for allocating the costs associated with a factory's purchasing department?  Machine-hours   Direct labor-hours       Number of orders processed Cost of materials purchased Q-5 Direct labor-hours or direct labor cost should not be used as a measure of activity in an activity-based costing system. TRUE          FALSE

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ACC 349 Week 3 Discussion Question 1

 

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For what is cost-volume-profit (CVP) analysis used? What are some of the key underlying assumptions that make CVP analysis useful for decision makers? Why might decision makers use CVP analysis?

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ACC 349 Week 3 Discussion Question 2

 

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What are the differences between variable and absorption costing? Why is variable costing not allowed for GAAP reporting? Which method is more useful for internal decision-making? Why? As a manager, which would you prefer? Why?

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ACC 349 Week 3 Individual Assignment Article Analysis Summary

 

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Use the Internet or other credible resources to find an article relevant to activity-based costing (ABC), job costing, or process costing.

Write a 125-word summary of the article.

Summarize the major topics of the article, and explain what you learned as a result of your reading.

Format your summary consistent with APA guidelines.

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ACC 349 Week 3 Individual Assignment Assignments Ch. 4

 

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Prepare written responses to the following assignments from Ch. 4 of Managerial Accounting: Tools for Business Decision Making:

Exercises E4-10 and E4-11

Questions 13 and 14

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ACC 349 Week 3 Team Assignment Case Study Ch. 4

 

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Prepare written responses to the following case study from Ch. 4 of Managerial Accounting: Tools for Business Decision Making:

Managerial Analysis BYP 4-2

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ACC 349 Week 3 Team Assignment Part 1 (Jeemp Farms)

 

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Read the following scenario below: Leighton Beridon owns "Jeemp Farms", located near Weimar, TX. The farm produces pecan trees and sod. He has so many orders from the Houston metropolitan area that he is able to sell all his inventory each year, but he is not netting as much as he has in past years. His daughter, LieslBeridon, came home from college over Thanksgiving and mentioned ABC costing, which she learned about in her cost accounting class. Mr.Beridon does not really know what ABC costing is and is skeptical as to whether it would be right for his business. He has hired your company to educate him about ABC and whether or not he should use an ABC system. Over the next few weeks, you will work towards helping Mr.Beridon decide what is the best route for his company to take. Shortly after you get started, Mr.Beridon sends you an email stating that he feels he needs to discontinue the sod portion of his business and focus on his tree sector, as he can charge more per tree than he can charge for a foot of sod. He sends you an email stating, "I can charge so much more for a tree than a foot of grass. Therefore, I am planning on discontinuing the sod portion of the business immediately as I make so much more on the trees! I am going to plant all my sod acres with trees". Write a 700- to 1,050-word paper plan for your boss explaining how you will analyzeJeemp Farms. Include the following: •  Prepare an argument convincing him to hold off on his decision and see the results of your analysis first. As you have not had time to do any analysis yet, you need to convince Mr.Beridon to wait on whether to discontinue his sod business. •      Project potential benefits Mr.Beridon could gain from using an ABC system. •        Explain how ABC creates these benefits. Your team is planning on conducting an analysis of whether ABC would be beneficial to Mr.Beridon. Create a process for conducting this analysis. Include the following: 1.      How could you apply the data in the company's general ledger? 2.    Determine questions to ask Mr.Beridon. 3.    Determine other information to gather. 4.       Explain how this additional information could help you in your analysis? 5.      Explain how you would decide on a final recommendation. Format your assignment to APA standards. Click the Assignment Files tab to submit as a Microsoft® Word document.

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ACC 349 Week 3 Team Assignment Problems Ch. 4

 

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Prepare written responses to the following problems from Ch. 4 of Managerial Accounting: Tools for Business Decision Making:

Problems P4-3A and P4-4A

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ACC 349 Week 4 Connect Problems (with Excel Sheet)

 

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This Tutorial contains Excel Sheet which can be used for any values Q-1 Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company’s planning budget for May appears below: During May, the company’s activity was actually 340 diving-hours. Complete the following flexible budget for that level of activity. Q-2 Flight Café is a company that prepares in-flight meals for airlines in its kitchen located next to the local airport. The company’s planning budget for July appears below: In July, 22,000 meals were actually served. The company’s flexible budget for this level of activity appears below: 1.          Compute the company’s activity variances for July. Q-3 QuilceneOysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,300 pounds of oysters in August. The company’s flexible budget for August appears below: Compute the company’s revenue and spending variances for August. Q-4 Selected operating data for two divisions of Outback Brewing, Ltd., of Australia are given below: 1.      Compute the rate of return for each division using the return on investment (ROI) formula stated in terms of margin and turnover. 2.  Which divisional manager seems to be doing the better job? Q-5 A planning budget is prepared before the period begins and is valid for whatever the actual level of activity turns out to be. True False Q-5 (Set 2) In business, a budget is a method for putting a limit on spending. True False Q-6 Fixed costs should be included in a flexible budget even though they do not change when the level of activity changes. True False Q-6 (Set 2) A flexible budget can be used to estimate what revenues and costs should have been, given the actual level of activity for the period. True False Q-7 A balanced scorecard consists of an integrated set of performance measures that are derived from and support a company’s strategy. True False Q-7 (Set 2) A balanced scorecard should not contain any performance measures concerning customer satisfaction since the extent to which customers are satisfied is beyond the control of any manager in the company. True False

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ACC 349 Week 4 Discussion Question 1

 

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What are some of the advantages and disadvantages of standard costs? How do managers determine what the standard cost should be? Describe the effect of inaccurate standard costs on financial reporting.

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ACC 349 Week 4 Discussion Question 2

 

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When should variances be investigated? Who should be responsible for correcting a negative variance? Why? What are some factors that can lead to variances? How can variances be corrected?

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ACC 349 Week 4 Individual Assignment Ch. 5 and 6

 

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Prepare written responses to the following assignments from Managerial Accounting: Tools for Business Decision Making:

Ch. 5 – Exercises E5-1 and E5-9

Ch. 6 – Exercises E6-7 and E6-10

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ACC 349 Week 4 Team Assignment Case Study Ch. 6

 

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Prepare written responses to the following case study from Ch. 6 of Managerial Accounting: Tools for Business Decision Making:

Managerial Analysis BYP 6-2

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ACC 349 Week 4 Team Assignment Part 2 (Jeemp Farms)

 

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Mr.Beridon received your requests for information and returned data which you have compiled in an Microsoft® Excel® spreadsheet (see document template). He also said, "We grow sod and trees at Jeemp Farms. We sell the sod mainly to home builders in the area, although we sell to some individuals who are purchasing square footages to re-sod their yard. Many home builders will purchase to sod an entire subdivision. They then may come back to us to purchase trees for the yards. It really is a package deal. For builders like that, we are a one-stop-shop. In most cases, however, we sell the trees to orchards and some individuals. The purchaser is responsible for all shipping costs related to their product. "Our production process is different for each product. For sod, we plant the seed, irrigate, cut, and roll the sod and then transport it. For the trees, we plant the root stock, graft the tree, water until a particular maturity and then dig it up and sell it. We inspect the plants as needed to make sure we are producing a quality product that is disease-free. "We have delayed purchasing some machinery that reduces time for the planting of the trees because it is a large up-front cost and we don't want to have a huge outlay of cash if our profits keep going down". "The grass does not require as much irrigation as the trees, as it is at a lower elevation than the tree acres and is closer to the creek; it gets a lot of the run off". "Historically, we have always been able to sell everything we produce. Hopefully, that will continue since Houston is expanding rapidly". Compute the product costs for the sod and trees under traditional and ABC costing using the Microsoft® Excel® spreadsheet. Write a 700- to 1,050-word paper analyzingJeemp Farms and what data and information you will consider. Include the following: •         Describe any factors that could skew your results. In other words, explain if there is one method of costing that could make a product look more favorable than it really is. •          Justify whether Mr.Beridon should cut the sod portion of his company. •          Justify whether Mr.Beridon should cut the tree portion of his company instead. •    Describe other methods of analysis you could use to help you come to a decision. •  Describe any other qualitative or quantitative factors or changes to Mr.Beridon's business that might be relevant to Jeemp Farms as they make the decision as to whether to use ABC and whether to cut sectors. •     Determine any additional information you would need to have before making a recommendation. Format your assignment to APA standards. Click the Assignment Files tab to submit your assignment as a Microsoft® Word document.

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ACC 349 Week 4 Team Assignment Problems Ch. 7

 

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Prepare written responses to the following problems from Ch. 7 of Managerial Accounting: Tools for Business Decision Making:

Problem P7-1A

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ACC 349 Week 5 Discussion Question 1

 

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What is a master budget? What are some of the underlying budgets that form the master budget? What is the budgeting process at your organization? Is it effective? Why or why not?

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ACC 349 Week 5 Discussion Question 2

 

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What is the difference between external and internal pricing? What factors must be considered when setting internal transfer pricing between divisions of a company? What are the different methods of setting internal transfer pricing? Which is the most effective? Why?

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ACC 349 Week 5 Individual Assignment Ch. 8, 9, and 11

 

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Prepare written responses to the following assignments from Managerial Accounting: Tools for Business Decision Making:

Ch. 8 – Exercises E8-11

Ch. 9 – Brief Exercises BE9-6 and BE9-8

Ch. 11 – Questions 2 and 11

Ch. 11 – Exercise E11-6

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ACC 349 Week 5 Lab Problems

 

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Week 5 • Question 1   Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Standard Price Standard Hours or Rate Cost Direct materials 6.4 pounds $ 3.00 per pound $19.20 Direct labor 0.4 hours $11.00 per hour $ 4.40 ____________________________________________________________________________ During the most recent month, the following activity was recorded: a. Twelve thousand four hundred pounds of material were purchased at a cost of $2.90 per pound. b. The company produced only 1,240 units, using 11,160 pounds of material. (The rest of the material purchased remained in raw materials inventory.) c. Five hundred and ninety six hours of direct labor time were recorded at a total labor cost of $7,152. Required: Compute the materials price and quantity variances for the month. • Question 2          SkyChefs, Inc., prepares inflight meals for a number of major airlines. One of the company’s products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week,the company prepared 6,500 of these meals using 3,200 direct laborhours.The company paid these directlabor workers a total of $36,800 for this work, or $11.50 per hour. According to the standard cost card for this meal, it should require 0.50 direct laborhours at a cost of $11.00 per hour. Required: 1.          According to the standards, what direct labor cost should have been incurred to prepare 6,500 meals? How much does this differ from the actual direct labor cost? 2.          Break down the difference computed in (1) above into a labor rate variance and a labor efficiency variance. • Question 3  Dawson Toys, Ltd., produces a toy called the Maze. The company has recently established a standard cost system to help control costs and has established the following standards for the Maze toy: Direct materials: 6 microns per toy at $0.31 per micron Direct labor: 1.3 hours per toy at $7.30 per hour During July, the company produced 5,000 Maze toys. Production data for the month on the toy follow: Direct materials: 70,000 microns were purchased at a cost of $0.28 per micron. 32,500 of these microns were still in inventory at the end of the month. Direct labor: 7,000 direct laborhours were worked at a cost of $55,300. Required: 1.          Compute the following variances for July: a. The materials price and quantity variances. b.        The labor rate and efficiency variances. • Question 4 Logistics Solutions provides order fulfilment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a customer, the order is forwarded to Logistics Solutions, which pulls the item from storage, packs it, and ships it to the customer. The company uses a predetermined variable overhead rate based on direct labor-hours. In the most recent month, 165,000 items were shipped to customers using 6,800 direct labor-hours. The company incurred a total of $22,100 in variable overhead costs. According to the company’s standards, 0.04 direct labor-hours are required to fulfill an order for one item and the variable overhead rate is $3.30 per direct labor-hour. Required: 1.          According to the standards, what variable overhead cost should have been incurred to fill the orders for the 165,000 items? How much does this differ from the actual variable overhead cost? 2.  Break down the difference computed in (1) above into a variable overhead rate variance and a variable overhead efficiency variance. • Question 5       An unfavorablelabor rate variance can occur if workers with high hourly wage rates are assigned to work on products with standards that assume workers have low hourly wage rates. True False

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ACC 349 Week 5 Signature Assignment Ethics on the Job (2 Papers)

 

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This Tutorial contains 2 Papers About Your Signature Assignment Signature/Benchmark Assignments are designed to align with specific program student learning outcome(s) in your program. Program Student Learning Outcomes are broad statements that describe what students should know and be able to do upon completion of their degree. Signature/Benchmark Assignments are graded with a grading guide or an automated rubric that allows the University to collect data that can be aggregated across a location or college/school and used for course/program improvements. Format your assignment to APA standards. Submit your assignment to the Assignment Files tab as a Microsoft® Word document. Identify a specific job within a specific company that you might be interested in applying for after you graduate from the University of Phoenix. Research the job and the field in general, as well as ethical issues managerial accountants have faced that would pertain to that field. Also, educate yourself on the basics of operations within the job and company you have selected. Write a 700- to 1,050-word paper to include the following: •   Summarize the main duties of the job. • Describe a specific ethical issue you might face in that position using 2 credible sources to support your description. •       Summarize the IMA's standards of ethical practice and conflict resolution guide. •       Analyze how the IMA's standards of ethical practice and conflict resolution guide applies to the ethical issue. • Predict how you would handle the ethical issue. •       Hypothesize what would happen if no one in the company followed the IMA's standards of ethical practice. •     Assess why it is important to follow the IMA's standards of ethical practice. •       Design or name any methods of internal controls you think could prevent or detect the unethical behavior in the future. Click the Assignment Files tab to submit your assignment as a Microsoft® Word document.

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ACC 349 Week 5 Team Assignment Problems Ch. 8 and 11

 

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Prepare written responses to the following problems from Managerial Accounting: Tools for Business Decision Making:

Ch. 8 – Problem P8-2A

Ch. 11 – Problem P11-4A

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