ACCT 505 Managerial Accounting Complete Course Final Exam

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ACCT 505 Managerial Accounting Complete Course

 

 

Week 1 DQ 1: Introduction and Cost Behavior – Discussion

Cost Terms, Classifications, and Behavior (Graded)

Welcome to our Week 1 Discussions! To get us started, let's consider the following questions.

1) Would a traditional income statement differ depending on whether the business is a service organization, merchandiser, or manufacturer?

2) Could we use managerial accounting tools to assess the profitability of an organization other than a manufacturing business, or are the topics that we are learning only related to manufacturing?

3) If we could use these concepts in service and/or merchandising businesses, how would we go about doing so?Let's start with the first question.

 

Week 1 DQ 2 : Introduction and Cost Behavior - Discussion

Research and Application (Graded)

Go to page 130, Case 3-30, Ethics and the Manager. Let’s discuss the questions, make value-added comments, points, and share personal experiences of unethical situations.

Week 1 Assignments:

Week 1 Case Study 1 Top Switch Inc (Source 2)

Week 1 Case Study 1 Top Switch Inc.

Week 1 Case Study 1 Top Switch Inc

Week 1 Practice Homework Assignments P 2-22, P 3-22, E 2-12; E 2-4

 

Week 2

Week 2 DQ 1 : Job Order and Process Costing Systems - Discussion

Job Order and Process Costing Systems (Graded)

Welcome to our Week 2 Discussions! Let's begin by discussing when job order costing systems would be more appropriate than a process costing system.

 

Week 2 DQ 2 : Job Order and Process Costing Systems - Discussion

Research and Application (Graded)

Go to page 166 and read Case 4-19, Ethics and the Manager: Understanding the Impact of Percentage Completion on Profit. Let’s address the questions, provide reasons for our answers, share  relevant personal experiences, and provide value-added comments, articles, and related websites. Let’s have a lot of interaction.

 

Week 2 Assignments:

ACCT 505 Week 2 Chaper 3 Systems Design - Job-Order Costing

 

 

ACCT 505 Week 2 Quiz (MCQs & Explanatory)


1.         (TCO F) Computing unit product costs involves averaging in

2.         (TCO F) Luft Company uses the weighted-average method in its process costing system. Operating data for the first processing department for the month of June appear below:

3.         (TCO F) Assume there was no beginning work in process inventory and the ending work in process inventory is 70% complete with respect to conversion costs. Under the weighted-average method, the number of equivalent units of production with respect to conversion costs would be: (Points : 5)

4.         (TCO F) Which of the following accounts is debited when direct labor is recorded? (Points : 5)

5.         (TCO F) During December at Ingrim Corporation, $74,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. The journal entry to record the requisition from the storeroom would include a: (Points : 5)

6.         (TCO F) Wedd Corporation had $35,000 of raw materials on hand on May 1. During the month, the company purchased an additional $68,000 of raw materials. During May, $92,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $5,000. The debits to the Work in Process account as a consequence of the raw materials transactions in May total: (Points : 5)

7.         (TCO F) Whether a company uses process costing or job-order costing depends on its industry. A number of companies in different industries are listed below:

8.         (TCO F) Job 728 was recently completed. The following data have been recorded on its job cost sheet:

9.         (TCO F) Harmon Company uses the weighted-average method in its process costing system. The Curing Department of Harmon Company reported the following information for the month of November.

10.       (TCO F) Weisinger Corporation has provided the following data for the month of January:..Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold in good form(Points : 15)

 

Week 3

Week 3 DQ 1: Cost-Volume-Profit Analysis and Variable Costing - Discussion

Variable Costing and CVP Concepts (Graded)

Welcome to our Week 3 Discussions! To get us started, let's discuss how CVP analysis is used in managerial accounting decision-making.

Week 3 DQ 2: Cost-Volume-Profit Analysis and Variable Costing - Discussion

Research and Application (Graded)

 Below is the link that will take you directly to the 2004 financial statements of the Benetton Group, followed by the discussion questions.

 http://www.benettongroup.com/sites/all/temp/doc/2004_annual_report_en.pdf

 Let's answer these questions in the order that they appear.

 1. How do the formats of the income statements shown on pages 33 and 50 of Benetton’s annual report differ from one another (disregard everything beneath the line titled “income from operations”)? Which expenses shown on page 50 appear to have been reclassified as variable selling costs on page 33?

 2. Why do you think cost of sales is included in the computation of contribution margin on page 33?

3. Perform two separate computations of Benetton’s break-even point in euros. For the first computation, use data from 2003. For the second computation, use data from 2004. Why do the numbers that you computed differ from one another?

4. What sales volume would have been necessary in 2004 for Benetton to attain a target income from operations of €300 million?

5. Compute Benetton’s margin of safety using data from 2003 and 2004. Why do your answers for the two years differ from one another?

Week 3 Assignments:

Week 3 Case study II Springfield Express (Source 1)

Week 3 Case Study II Springfield Express (Source 2)

Week 3 Case Study II Springfield Express (Source 3)

Week 3 Case Study II Springfield Express (Source 4)

Week 4

 

Week 4 DQ 1: ABC and Budgeting - Discussion

Budgeting Case Study (Graded)

Let's start the week by reviewing the following case. First, let's discuss how the budgeting process as employed by Springfield contributes to the failure to achieve the president's sales and profit targets.Click here to view the file

 

Week 4 DQ 2: ABC and Budgeting - Discussion

Exam Review (Graded)

To begin, download the practice Midterm Exam from Doc Sharing to access questions and topics for review. For multiple-choice questions, please explain why the answer chosen is correct, and why the other choices would not be correct. Please support your response. Let's begin with the questions on Page 1.

 

Week 4 Midterm Exam 4 Sets:

ACCT 505 Week 4 Midterm Set 1 (MCQs & Explanatory)

 

ACCT 505 Week 4 Midterm Set 2 (MCQs & Explanatory)

 

ACCT 505 Week 4 Midterm Set 3 (MCQs & Essay - February 2011)

 

ACCT 505 Week 4 Midterm Set 4 (MCQs & Essay - May 2011)

 

 

Week 5

Week 5 DQ 1: Measuring Performance - Discussion

Standards, Variances, Flexible Budgets (Graded)

To begin, please read Case 10B-5 on page 471, Ethics and the Manager. How were the standard costs developed? Are the standards set too high or too low? Please elaborate.

 

Week 5 DQ 2: Measuring Performance - Discussion

Research and Application (Graded)

Let's look at Case 9-26, Ethics and the Manager, in Chapter 9, page 414, and address and discuss the question there.

 

Week 5 Assignment:

Week 5 Course Project A (Measuring Performance)

 

Week 6

 

Week 6 DQ 1: Segment Reporting and Relevant Costs for Decisions 

Segment Reporting and Relevant Costs (Graded)

To begin, please read Case 12-32 on page 576. Which costs are relevant in the decision to shut down the Ashton facility? Then, let’s answer the questions at the end of the case. Also, value-added comments, points, and experiences are welcome and encouraged.

 

Week 6 DQ 2: Segment Reporting and Relevant Costs for Decisions 

Research and Application (Graded)

To begin, please read Case 11-22 on page 505 of the e-book and let's discuss the first question! Value-added comments, points, and experiences are also welcomed and encouraged.

 

Week 6 Assignment:

ACCT 505 Week 6 Quiz (MCQs & Explanatory)

 

Week 7

 

Week 7 DQ 1: Capital Budgeting - Discussion

Capital Budgeting (Graded)

Welcome to Week 7 Discussions! Let's begin by discussing the difference between capital budgeting screening decisions and capital budgeting preference decisions. Then, we will entertain additional questions relating to important capital budgeting terms, concepts, tools, methods, etc.

 Value-added, comments, points, observations, and experiences are welcomed and encouraged.

  

Week 7 DQ 2: Capital Budgeting - Discussion

Exam Review (Graded)

To begin, download the Practice Final Exam from Doc Sharing to access questions and topics for review. For multiple-choice questions, please explain why the answer chosen is correct and why the other choices would not be correct. Please support your response. Let's begin with the questions on page 1.

 

 Week 7 Assignments:

Week 7 Course Project Part B; Clark Paints (Source 1)

Week 7 Course Project Part B; Clark Paints (Source 2)

Week 7 Term Project

 

Week 8 Final Exam

 

ACCT 505 Week 8 Final Exam (Set 1)

 

ACCT 505 Week 8 Final Exam (Set 2)

 

ACCT 505 Week 8 Final Exam (Set 3)

 

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