Acc 206 Week 4 Assignment Chapter Six and Seven Problems

ACC 206 Week 4 Assignment Chapter Six and Seven Problems

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ACC 206 Week 4 Assignment Chapter Six and Seven Problems

Please complete the following 8 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.

Chapter 6 Exercise 2

2. Schedule of cash collections

Sugarland Company sells a single product and anticipates opening a new facility in Charlotte on May 1 of the current year. Expected sales during the first three months of activity are: May, $60,000; June, $80,000; and July, $85,000. Thirty percent of all sales are for cash; the remaining 70% are on account. Credit sales have the following collection pattern:

Chapter 6 Exercise 4

4. Production and cash-outlay computations

RPR, Inc., anticipates that 120,000 units of product K will be sold during May. Each unit of product K requires four units of raw material A. Actual inventories as of May 1 and budgeted inventories as of May 31 follow.

Chapter 6 Exercise 5

5. Abbreviated cash budget; financing emphasis

An abbreviated cash budget for Big Chuck Enterprises follows.

Chapter 6 Problem 3

3. Comprehensive budgeting

The balance sheet of Watson Company as of December 31, 20X1, follows.

Chapter 7 Exercise 3

3. Variances for direct materials and direct labor

Banner Company manufactures flags of various countries. Each flag has a standard of eight square feet of fabric and three hours of direct labor time. Information about recent production activity follows.

Chapter 7 Exercise 5

5. Overhead variances

Nova Manufacturing applies factory overhead to products on the basis of direct labor hours. At the beginning of the current year, the company’s accountant made the following estimates...