| | | | Ashford University ACC206 |
| | | | Guidance Report |
| | | | Week Four |
| | LISTEN TO AUDIO/VIDEO EXPLAINING THE GUIDANCE REPORT | | | Guidance Report Download Date | | 11/28/17 | Guidance Report Revision Date | | 12/1/17 |
| | | | | YELLOW INDICATES ACCOUNT AMOUNTS CHANGED |
| | | | | Change Account to: |
| | | | | Change to: Based Upon Course Start Date |
| | Exercise/
Problem | Account to
be changed | Original
Amount
| Jan - Feb | Mar - Apr | May - Jun | Jul - Aug | Sep - Oct | Nov - Dec |
| | Ch 6 EX 2 | Sales May | 60000 | 65000 | 70000 | 75000 | 80000 | 85000 | 90000 |
| | | Sales June | 80000 | 85000 | 90000 | 95000 | 100000 | 105000 | 110000 |
| | | Sales July | 85000 | 90000 | 95000 | 100000 | 105000 | 110000 | 115000 |
| | | Questions | YOUR ANSWERS BASED UPON COURSE START DATE |
| | | 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 | Original
Amount |
| | | July Beginning cash balance | 10000 | $ 9,000 | $ 11,000 | $ 8,000 | $ 12,000 | $ 7,000 | $ 13,000 |
| | | August Cash receipts | 63000 | $ 64,000 | $ 62,000 | $ 65,000 | $ 61,000 | $ 66,000 | $ 60,000 |
| | | September Cash receipts | 71000 | $ 72,000 | $ 70,000 | $ 73,000 | $ 69,000 | $ 74,000 | $ 68,000 |
| | | | YOUR ANSWERS BASED UPON COURSE START DATE |
| | | 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 |
| | | | | | Jan - Feb | Mar - Apr | May - Jun | Jul - Aug | Sep - Oct | Nov - Dec |
| | Ch 6 Pb 3 | Forcasted sales Jan | 1500 | | 1600 | 1700 | 1800 | 1900 | 2000 | 2100 |
| | | Forcasted sales Feb | 1600 | | 1700 | 1800 | 1900 | 2000 | 2100 | 2200 |
| | | Forcasted sales Mar | 1800 | | 1900 | 2000 | 2000 | 2100 | 2200 | 2300 |
| | | Forcasted sales Apr | 2000 | | 2000 | 2100 | 2100 | 2200 | 2300 | 2400 |
| | | | YOUR ANSWERS BASED UPON COURSE START DATE |
| | | 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 | Original
Amount |
| | | Estimated fixed overhead | 400000 | 410000 | 420000 | 430000 | 440000 | 450000 | 460000 |
| | | Estimated direct labor hours | 40000 | 40000 | 40000 | 40000 | 40000 | 40000 | 40000 |
| a. Variable Overhead Efficiency Variance | | | YOUR ANSWERS BASED UPON COURSE START DATE |
| Actual Quantity | The Amount the | Standard Quantity |
| of Input at Actual | Actual Quantity | of Input |
| Prices (Aq X Ap) | of Input Should | Allowed for |
| | Have Cost — | Production, at |
| | Variable: (Aq X Sp) | Standard Prices |
| | Fixed: Budget | (Sq X Sp) |
| | ACT Lab Hrs X est rate | Est rate X Units manu x std lab hrs |
| a. Variable Overhead Efficiency Variance | | a. Variable Overhead Efficiency Variance |
| b. Fixed Overhead Volumn Variance |
| N/A | Fixed Budgeted | 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 Overhead | Budgeted Fixed Overhead |
| Act Oh -(Est var oh/est hrs x act lab hrs) |
| | | c. Overhead spending variance |
| | | Account to
be changed | Original
Amount |
| | Ch 7 Pb 5 | | Book
amounts
|
| | | Actual production | 6500 | 6600 | 6700 | 6800 | 6900 | 7000 | 7100 |
| | | | YOUR ANSWERS BASED UPON COURSE START DATE |
| a. Compute Arrow’s direct material variances. |
| Act cost | Std cost | Std cost |
| Act Qty | Act Qty | Std Qty |
| | | Materials Quantity Variance |
| | | Materials Price Variance |
| | | Total Materials Variance |
| b. Compute Arrow’s labor variances. |
| Act rate | Std rate | Std rate |
| Act hrs | Act hrs | Std hrs |
| | | Labor Efficiency Variance |
| | | Labor Rate Variance |
| | | Total Labor Variance |
| c. Compute Arrow’s variances for factory overhead. |
| Variable overhead efficiency variance |
| Actual Quantity | The Amount the | The amount |
| of Input at Actual | Actual Quantity | of Input |
| Prices (Aq X Ap) | of Input Should | Allowed for |
| | Have Cost — | Production, at |
| | Variable: (Aq X Sp) | Standard Prices |
| | Fixed: Budget | (Sq X Sp) |
| | Inc hours x std rate | Act pro x OH std hrs x std rate |
| N/A |
| | | Variable overhead efficiency variance |
| d. Fixed Overhead Volume Variance |
| | Fixed Budgeted | Applied Fixed Overhead |
| | yearly/12 | Std rat x act prod x fix OH rate |
| | | Fixed Overhead Volume Variance |
| e. Overhead spending variance |
| Actual Fixed Overhead | Budgeted Fixed Overhead |
| Incur OH- var rate x hours |
| | | Overhead spending variance |
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ACC206WeekFourGuidanceReport1.xlsx
