Accounting Seminar Notes

Good Essays
Chapter 6 Homework Solutions 6-16 Sales budget, service setting.

1. Rouse & Sons | 2011 Volume | At 2011Selling Prices | Expected 2012Change in Volume | Expected 2012 Volume | Radon Tests | 12,200 | $290 | +6% | 12,932 | Lead Tests | 16,400 | $240 | -10% | 14,760 |

Rouse & Sons Sales Budget | For the Year Ended December 31, 2012 | | | | | | Selling Price | Units Sold | Total Revenues | Radon Tests | $290 | 12,932 | $3,750,280 | Lead Tests | $240 | 14,760 | 3,542,400 | | | | $7,292,680 |

2. Rouse & Sons | 2011 Volume | Planned 2012 Selling Prices | Expected 2012 Change in Volume | Expected 2012 Volume | Radon Tests | 12,200 | $290 | +6% | 12,932 | Lead Tests | 16,400 | $230 | -7% | 15,252 |

Rouse & Sons Sales Budget | For the Year Ended December 31, 2012 | | | | | | Selling Price | Units Sold | Total Revenues | Radon Tests | $290 | 12,932 | $3,750,280 | Lead Tests | $230 | 15,252 | 3,507,960 | | | | $7,258,240 |

Expected revenues at the new 2012 prices are $7,258,240, which is lower than the expected 2012 revenues of $7,292,680 if the prices are unchanged. So, if the goal is to maximize sales revenue and if Jim Rouse’s forecasts are reliable, the company should not lower its price for a lead test in 2012.

6-17 Sales and production budget. Budgeted sales in units 200,000 Add target ending finished goods inventory 25,000 Total requirements 225,000 Deduct beginning finished goods inventory 15,000 Units to be produced 210,000 6-18 Direct materials purchases budget. Direct materials to be used in production (bottles) 2,500,000 Add target ending direct materials inventory (bottles) 80,000 Total requirements (bottles) 2,580,000 Deduct beginning direct materials inventory (bottles) 50,000 Direct materials to be purchased (bottles) 2,530,000 6-19

You May Also Find These Documents Helpful

  • Powerful Essays

    seminar accounting

    • 16836 Words
    • 68 Pages

    Project Paper on the Title “Auditors Professional Responsibilities and Legal Liability with Regard to Private Auditors in Ethiopia”: For the Fulfillment of M.Sc Program in Accounting and Finance Adviser: Johannes Kinfu (Prof) By: Muluneh Beyene Addis Ababa University School of Gradate Studies Department of Accounting and Finance July, 2007 Addis Ababa Statement of Certification This is to certify that Muluneh Beyene has carried out his research work on the topic entitled “The…

    • 16836 Words
    • 68 Pages
    Powerful Essays
  • Good Essays

    Seminar notes

    • 893 Words
    • 4 Pages

    Outline notes Introduction Each country in the world has its own set of laws on business associations. Although there are just under 200 states in the world, there are even more company laws. One country, the United States of America, has 50 company laws within its territory (one for each State in the Union) plus the law of the District of Columbia (http://www.citmedialaw.org/legal-guide/forming-corporation-district-columbia ) In addition, there is also US Federal law which affects companies…

    • 893 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Macbeth Seminar Notes

    • 474 Words
    • 2 Pages

    Macbeth Seminar Notes Act 2 Scene 2 “This is a sorry sight.” [Looking on his hands] line 29 (Macbeth) “Are but as pictures; ‘tis the eye of childhood That fears a painted devil. If he do bleed, I’ll gild the faces of the grooms withal, For it must seem their guilt.” line 70-73 (Lady Macbeth) “How is’t with me, when every noise appals me.” line 75 (Macbeth) Act 2 Scene 3 “You are, and do not know’t: The spring, the head, the fountain of your blood Is stopp’d; the very source of…

    • 474 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Seminar 3 Notes

    • 381 Words
    • 2 Pages

    Seminar Three Chapters 7, 9, 15 Investigation Plan As you lead the Seminar this week and discuss The Civil Rights Act, you may wish to cover the following questions with your students: • Describe the significance of the Civil Rights Act of 1964. Title Vii, what does it protect? See page 171 What changes were made by the Civil Rights Act of 1991? See page 184 Jury trials permitted, business necessity, or job related discrimination ok. • • Describe one change you would recommend…

    • 381 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Accounting Theory – Seminar 2 Presentation Briefly describe the accounting profession/What is the role of accountants? Accountants analyse costs of operations, products, and special projects. Compute taxes owed, prepare tax returns. Organize and maintain financial records. Suggest ways to reduce costs, enhance revenues and improve profits, Improve businesses efficiency. Critically discuss the role of the CFO Andy Fastow in the ENRON scandal Fastow created hundreds/ of "special-purpose entities"–off…

    • 534 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    ACCOUNTING 592 Financial Accounting & Reporting Seminar Spring 2010 Instructor: Office Hours (subject to adjustment): Teresa Gordon Office Hours: W 8:30–11:00 AM Albertsons Bldg. 118 and T,W,Th 1:15 - 3:00 PM 885-8960 or by appointment E-mail: tgordon@uidaho.edu Course web page: http://www.cbe.uidaho.edu/Acct592 ------------------------------------------------- MASTER OF ACCOUNTANCY – LEARNING GOALS ------------------------------------------------- -------------------------------------------------…

    • 6634 Words
    • 27 Pages
    Good Essays
  • Good Essays

    Accounting Notes

    • 3439 Words
    • 14 Pages

    and closed note exam. No aid sheet is allowed. You will need a calculator, but no other electronic devices will be allowed during the exam. 3. The exam covers materials in classes 1 through 11 inclusive (i.e., topics 1 through 8), with more emphasis on topics 3 through 8. It will have both problem-solving and essay-type questions. It is not going to be an easy exam, so you will not waste time studying for it. 4. I suggest that you prepare for the exam by reading my lecture notes and the textbook…

    • 3439 Words
    • 14 Pages
    Good Essays
  • Powerful Essays

    Accounting Notes

    • 2977 Words
    • 12 Pages

    AB1102: Accounting 2 Notes Objective of Financial Statements – objective of general purpose financial reporting is to provide financial information about the reporting entity that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the entity. 2 roles of financial reporting: Contracting (backward looking) and Valuation (forward looking) Qualitative Characteristics (QC) of Useful Financial Information - Relevance o Predictive…

    • 2977 Words
    • 12 Pages
    Powerful Essays
  • Powerful Essays

    Accounting notes

    • 8802 Words
    • 41 Pages

    INTRODUCTION TO ACCOUNTING ACNT 1303 Lecture Notes GENERAL INFORMATION FOR COMPLETING THE CLASS The following is a summary of the twelve chapters that you will be completing this semester. Be sure that you are taking the time to read and STUDY each chapter. It is important to go through each of the examples in the book and to complete the Review Quiz. Spending time reading and understanding before you start the homework assignment will help you to complete in the exercises and case problems…

    • 8802 Words
    • 41 Pages
    Powerful Essays
  • Good Essays

    accounting notes

    • 1246 Words
    • 5 Pages

    Financial Accounting (BEA 2001) Tutorials PROPERTY, PLANT & EQUIPMENT Question 1: Measurement at recognition; components; depreciation Olympic plc is a diversified industrial company with many different areas of operation. The following information relates to the company’s property, plant and equipment. The company has a 30 September year end. All the plant was purchased and brought into use on 1 October 20X1 at a cost of £800 000. The cost of testing the plant amounted to £45 000 and samples…

    • 1246 Words
    • 5 Pages
    Good Essays