Please help with this, I have no need to learn accounting.
Notre Dame College MBA 540 Accounting Week 4 Assignment 4-2 Total points: 50 1. This is a numerical assignment. The maximum points are shown against each problem given below. 2. Show the complete work before you give the final answer. 3. Analytical approach is expected where a question is descriptive in nature. 1. (3 points) Each unit requires direct labor of 4.5 hours. The labor rate is $20.00 per hour and next year’s direct labor budget totals $50,000. Required Calculate the number of units included in the production budget for next year. Answer and Work: 2. (3 points) Given the following information from Power Enterprises’ direct materials budget. Production 500,000 units Beginning Materials Inventory 270,000 units Ending materials inventory 170,000 units Estimated sales Required Calculate how many units are estimated to be sold? Answer and Work: 3. (4 points) Diya Corporation’s Management has prepared the following summary data to use in its annual budgeting process: Budgeted unit sales 640 Selling price per unit $ 2,040 Cost per unit $ 1,370 Variable selling and administrative expense (per unit) $ 75 Fixed selling and administrative expense (per year) $ 300,000 Interest expense for the year $ 20,000 Required: Prepare the company’s budgeted income statement for the year. Answer and Work: 4. (8 points) The Diya Corporation’s Management has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cash ? Accounts receivable $ 9,700 Supplies inventory $3,800 Equipment $ 42,000 Accumulated depreciation $ 17,000 Accounts payable $ 3,400 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $33,000, net income is budgeted to be $16,900 and dividends are budgeted to be $3,700. Required: Prepare the company’s budgeted balance sheet. Answer and Work: 5. (6 points) The production manager of Patel Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 2,000 1,800 1,500 1,200 Each unit requires 0.65 direct labor-hours, and direct laborers are paid $25.00 per hour. Required: Prepare the company’s direct labor budget for the upcoming fiscal year. Answer and Work: 6. (10 points) Nona’s Manufacturing data shows the following information: January February March April May Estimated sales in units 15,000 14,500 16,000 15,500 15,800 Sales price per unit $45 $45 $45 $45 $45 Direct labor per unit 3 3 2.25 2 2 Labor rate per hour $18 $18 $21 $21 $21 New machinery will be added in April. This machine will reduce the labor required per unit and increase the labor rate for those employees qualified to operate the machinery. Finished goods inventory is required to be 20% of the next month’s requirements. Direct material requires 2 pounds per unit at a cost of $5 per pound. The ending inventory required for direct materials is 15% of the next month’s needs. In January, the beginning inventory is 3,000 units of finished goods and 4,470 pounds of material. Required: a) Prepare a production budget for the first quarter of the year. b) Prepare a direct materials budget for the first quarter of the year. c) Prepare a direct labor budget for the first quarter of the year. Answer and Work: 7. (6 points) Weller Company produces surgical supplies and sells to other companies. It prepared a static budget for the sales of 5,000 units. These variances were observed: Actual Results Variance Units Sales $150,000 $25,000 Favorable (F) Variable expenses 77,800 12,800 Unfavorable(U) Fixed expenses 70,300 300 Unfavorable(U) Net income (loss) $1,900 $11,900 Unfavorable(U) Required a) Determine the static budget and use the above information to prepare a flexible budget and analysis for the 6,000 units actually sold. b) Calculate the variance and state whether your calculated variance is favorable or unfavorable. c) What could be the possible reasons for the variance? Answer and Work: 8. (10 points) Relevant data from the Poster Company’s operating budgets are: Quarter 1 Quarter 2 Sales $33,948 $76,482 Direct material purchased 25,312 26,423 Direct labor 29,948 24,328 Manufacturing overhead 9,322 10,299 Selling and administration expenses 19,283 19,238 Depreciation included in selling and administration expenses 950 800 Collection from customers 34,324 76,938 Cash payments for purchases 29,349 20,937 Cash Received: other 8,000 500 Dividend 0 500 · Capital assets were sold in quarter 1 and $8,000 was collected in quarter 1 and $500 collected in quarter 2. · Dividends of $500 will be paid in May. · The beginning cash balance was $50,000 and the required minimum cash balance is $10,000. Required Use this information above and prepare a cash budget for the first two quarters of the year. Answer and Work: Notre Dame College MBA 540 Accounting Week 4 Assignment 4 - 2 Total points: 50 1. This is a numerical assignment. The maximum points are shown against each problem given below. 2. Show the complete work before you give the final answer. 3. Analytical approach is expected where a question is descriptive in nature. 1. ( 3 points ) Each unit requires direct labor of 4.5 hours. The labor rate is $20.00 per hour and next year’s direct labor budget totals $50,000. Required Calculate the number of units included in the production budget for next year. Answer and Work : 2. ( 3 points ) Given the following information from Power Enterprises’ direct materials budget. Production 500,000 units Beginning Materials Inventory 270,000 units Ending materials inventory 170,000 units Estimated sales Required Calculate how many units are estimated to be sold? Answer and Work : Notre Dame College MBA 540 Accounting Week 4 Assignment 4-2 Total points: 50 1. This is a numerical assignment. The maximum points are shown against each problem given below. 2. Show the complete work before you give the final answer. 3. Analytical approach is expected where a question is descriptive in nature. 1. (3 points) Each unit requires direct labor of 4.5 hours. The labor rate is $20.00 per hour and next year’s direct labor budget totals $50,000. Required Calculate the number of units included in the production budget for next year. Answer and Work: 2. (3 points) Given the following information from Power Enterprises’ direct materials budget. Production 500,000 units Beginning Materials Inventory 270,000 units Ending materials inventory 170,000 units Estimated sales Required Calculate how many units are estimated to be sold? Answer and Work: