Devry BUSN 278 Week 7 Discussions Latest

Devry BUSN 278 Week 7 Discussions Latest

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Devry BUSN 278 Week 7 Discussions Latest

DQ1

Administering the Budget (graded)

Discuss the differences in the reports prepared for upper management compared to the reports prepared for lower-level managers.Why do these differences exist?

DQ 2

Presenting and Defending a Budget (graded)

The sales forecast is often the starting point of the budgeting process. Identify and discuss key assumptions that are made in the creation of the sales forecast. How would you defend these assumptions when presenting your budget to the budget committee?

 

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Devry BUSN 278 Week 6 Discussions Latest

Devry BUSN 278 Week 6 Discussions Latest

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Devry BUSN 278 Week 6 Discussions Latest

DQ1

Cost Behavior (graded)

A coworker comes to you with the following problem: “I provided my boss a projection of factory overhead using the high-low method.He was unhappy with the results and told me to do more work and not return until I had a lower cost estimate. My initial analysis was based on data points for the last 24 months. By dropping the three highest data points, I was able to get a lower cost.” Was what your coworker did unethical? Explain.

DQ2

Variance Analysis (graded)

The differences identified in variance analysis are often interdependent. A favorable variance in one category may lead to an unfavorable variance in another, and vice versa. Identify and describe an example of interdependent variances, and discuss the trade-off that exists.

 

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Devry BUSN 278 Week 5 Discussions Latest

Devry BUSN 278 Week 5 Discussions Latest

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Devry BUSN 278 Week 5 Discussions Latest

DQ1

Master Budget (graded)

The sales budget is the starting point for the master budget. Discuss how it is prepared. Why is its accuracy so important?

DQ2

Cash Budgeting (graded)

Discuss how managers can use the cash budget as a monitoring and control tool.

 

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Devry BUSN 278 Week 4 Discussions Latest

Devry BUSN 278 Week 4 Discussions Latest

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Devry BUSN 278 Week 4 Discussions Latest

DQ1

Capital Budgeting (graded)

Explain what is meant by the time value of money, and discuss its relevance to the capital budgeting process.

DQ2

New Business Startups (graded)

Discuss the complications related to creating a forecast and budget for a new business.

This section lists options that can be used to view responses.

 

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Devry BUSN 278 Week 3 Discussions Latest

Devry BUSN 278 Week 3 Discussions Latest

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Devry BUSN 278 Week 3 Discussions Latest

DQ1

Expense Budgets (graded)

Nonproduction expenses such as marketing, research and development, and general administrative costs can play an important role in a company’s ability to meet long-term goals. Discuss how the budgets for each of these costs contribute to the company’s success.Which do you think plays the greatest role and why?

DQ2

Capital Expenditures Budget (graded)

What are capital expenditures, and how can they help a company achieve its long-term objectives?

 

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Devry BUSN 278 Week 2 Discussions Latest

Devry BUSN 278 Week 2 Discussions Latest

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Devry BUSN 278 Week 2 Discussions Latest

DQ1

Linear Regression (graded)

Compare linear regression to the moving averages and smoothing techniques used in Week 1. Why is linear regression more appropriate for long-range forecasts?

DQ2

Seasonal Variations (graded)

What is seasonality, and what role does it play in regression analysis?

 

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Devry BUSN 278 Week 1 Discussions Latest

Devry BUSN 278 Week 1 Discussions Latest

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Devry BUSN 278 Week 1 Discussions Latest

DQ1

Budgeting and Planning (graded)

Discuss the relationship between budgeting and planning. How are they related? What differences exist between the two?

DQ2

Forecasting Techniques (graded)

Discuss the difference between quantitative and qualitative forecasting. Does one provide a more accurate forecast than the other?

 

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Devry BUSN 278 Week 1 Assignment Latest

Devry BUSN 278 Week 1 Assignment Latest

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Devry BUSN 278 Week 1 Assignment Latest

 

Q1 (TCO 2) Using the table “Paint Sales Time Series”, calculate the forecast for paint sales (in thousands) for Week 11 using a three day moving average.

Paint Sales Time Series |

Week | Sales (000’s of gallons) |

1 | 6 |

2 | 8 |

3 | 10 |

4 | 9 |

5 | 11 |

6 | 12 |

7 | 10 |

8 | 8 |

9 | 7 |

10 | 9 |

(TCO 2) Using the table “Paint Sales Time Series”, calculate the mean absolute deviation for a three day moving average.

Paint Sales Time Series |

Week | Sales (000’s of gallons) |

1 | 6 |

2 | 8 |

3 | 10 |

4 | 9 |

5 | 11 |

6 | 12 |

7 | 10 |

8 | 8 |

9 | 7 |

10 | 9 |

Question : | (TCO 2) Using the table “Gasoline Sales Time Series”, calculate the forecast for gasoline sales (in thousands) for Week 13 using a three day weighted moving average. Use a weight of .60 for the most recent observation, .30 for the second most recent, and .10 for the third most recent.

Gasoline Sales Time Series |

Week | Sales (000’s of gallons) |

1 | 17 |

2 | 21 |

3 | 19 |

4 | 23 |

5 | 18 |

6 | 16 |

7 | 20 |

8 | 18 |

9 | 22 |

10 | 20 |

11 | 15 |

12 | 22 |

  1. 5.| Question : | (TCO 2) Using the table “Gasoline Sales Time Series”, calculate the forecast for gasoline sales (in thousands) for Week 13 using exponential smoothing and a smoothing constant of .10.

Gasoline Sales Time Series |

Week | Sales (000’s of gallons) |

1 | 17 |

2 | 21 |

3 | 19 |

4 | 23 |

5 | 18 |

6 | 16 |

7 | 20 |

8 | 18 |

9 | 22 |

10 | 20 |

  1. 1.| Question : | (TCO 3) Using the following information regarding actual sales for Seafood City, calculate the regression (trend) line:

Sales for Seafood City ($) |

Day | Week 1 | Week 2 |

Monday | 1,700 | 1,800 |

Tuesday | 1,900 | 2,000 |

Wednesday | 2,100 | 2,100 |

Thursday | 2,300 | 2,200 |

Friday | 4,200 | 4,300 |

Saturday | 4,400 | 4,600 |

Sunday | 2,100 | 2,200 |

  1. 2.| Question : | (TCO 3) Using the following information regarding actual sales for Sam’s Ski Supplies, project sales for March of Year 3 using simple linear regression:

Sales for Sam’s Ski Supplies ($000s) |

Month| First Year | Second Year |

January | 380 | 400 |

February | 340 | 360 |

March | 320 | 330 |

April | 280 | 290 |

May | 265 | 270 |

June | 230 | 235 |

July | 220 | 230 |

August| 200 | 205 |

September | 210 | 220 |

October | 250 | 270 |

November | 400 | 450 |

December | 450 | 502 |

|

|

  1. 3.| Question : | (TCO 3) Using the following information regarding actual sales for Sam’s Ski Supplies, calculate the seasonal ratio for January of Year 3:

Sales for Sam’s Ski Supplies ($000s) |

Month| First Year | Second Year |

January | 380 | 400 |

February | 340 | 360 |

March | 320 | 330 |

April | 280 | 290 |

May | 265 | 270 |

June | 230 | 235 |

July | 220 | 230 |

August| 200 | 205 |

September | 210 | 220 |

October | 250 | 270 |

November | 400 | 450 |

December | 450 | 502 |

|

  1. 4.| Question : | (TCO 3) Using the following information regarding actual sales for Paradise Pools, calculate the seasonal forecast of sales for April of Year 3:

Sales for Paradise Pools ($000s) |

Month| First Year | Second Year |

January | 84 | 84 |

February | 80 | 82 |

March | 88 | 98 |

April | 100 | 120 |

May | 150 | 160 |

June | 200 | 210 |

July | 240 | 250 |

August| 220 | 215 |

September | 180 | 195 |

October | 160 | 165 |

November | 120 | 130 |

December | 92 | 100 |

 

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Devry BUSN 278 Midterm Exam Latest

Devry BUSN 278 Midterm Exam Latest

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Devry BUSN 278 Midterm Exam Latest

 

MIDTERM

(TCO 1) Why are budgets useful in the planning process?

They provide management with information about the company’s past performance.

They help communicate goals throughout the organization.

They guarantee the company will be profitable if it meets its objectives.

They enable the budget committee members to earn their paychecks

Question 2. Question : (TCO 2) The quantitative forecasting method that uses actual sales from recent time periods to predict future sales, assuming each period has equal influence on the prediction of future sales, is the _____.

: moving average model

weighted moving average model

exponential smoothing model

equal average model

Points Received: 5 of 5

Comments:

Question 3. Question : (TCO 3) The regression statistic that measures how many standard errors the coefficient is from zero is the _____.

: correlation coefficient

coefficient of determination

standard error of the estimate

t-statistic

Points Received: 0 of 5

Comments:

Question 4. Question : (TCO 4) Capital expenditures are incurred for all of the following reasons except _____.

: as preventive maintenance

to counteract competition

decreased production

improvement in product quality

Points Received: 0 of 5

Comments:

Question 5. Question : (TCO 5) Which of the following is not true when ranking proposals using zero-base budgeting?

Due to changing circumstances, a low-priority item may later become a high-priority item.

Decision packages are ranked in order of increasing benefit.

Divisional and departmental managers submit initial recommendations, with top management making the final ranking.

Nonfunded packages should also be ranked.

Points Received: 0 of 5

Comments:

Question 6. Question : (TCO 6) Which of the following ignores the time value of money?

Internal rate of return

Profitability index

Net present value

Payback period

Points Received: 5 of 5

Comments:

Question 7. Question : (TCO 1) Budgeting is a planning and control system. Discuss how budgeting contributes to these two functions of management.

Question 8. Question : (TCO 2) There are a variety of forecasting techniques that a company may use. Identify and discuss the four main qualitatative approaches, including their advantages and disadvantages.

Question 9. Question : (TCO 2) Use the table Television Sales Time Series to answer the questions below.

Television Sales Time Series

(in thousands)

Day Sales Day Sales

1 24.0 9 26.0

2 25.0 10 27.0

3 26.0 11 27.0

4 27.0 12 26.5

5 28.5 13 28.0

6 28.0 14 27.0

7 27.0 15 29.0

8 27.5

Part (a): What is the project sales for Day 16 using a 3-day moving average?

Part (b): What is the project sales for Day 16 using a 6-day moving average?

Part (c): Use the mean absolute deviation (MAD) and mean square error (MSE) to determine which average provides the better forecast.

Comments:

Question 10. Question : (TCO 3) Use the table “Food and Beverage Sales for Luigi’s Italian Restaurant” to answer the questions below.

Food and Beverage Sales for Luigi’s Italian Restaurant

($000s)

Month First Year Second Year

January 218 237

February 212 215

March 209 223

April 251 174

May 256 174

June 216 135

July 131 142

August 137 145

September 99 110

October 117 117

November 137 151

December 213 208

Part (a): Calculate the regression line and forecast sales for February of Year 3.

Part (b): Calculate the seasonal forecast of sales for February of Year 3.

Part (c): Which forecast do you think is most accurate and why?

Question 11. Question : (TCO 6) Davis Company is considering two capital investment proposals. Estimates regarding each project are provided below.

Project A Project B

Initial Investment $800,000 $650,000

Annual Net Income $50,000 45,000

Annual Cash Inflow $220,000 $200,000

Salvage Value $0 $0

Estimated Useful Life 5 years 4 years

The company requires a 10% rate of return on all new investments.

Part (a): Calculate the payback period for each project.

Part (b): Calculate the net present value for each project.

Part (c): Which project should Jackson Company accept and why?

Question 12. Question : (TCO 6) Mimi Company is considering a capital investment of $250,000 in new equipment.The equipment is expected to have a 5-year useful life with no salvage value. Depreciation is computed by the straight-line method. During the life of the investment, annual net income and cash inflows are expected to be $25,000 and $75,000, respectively. Mimi’s minimum required rate of return is 10%.

Part (a): Calculate the payback period.

Part (b): Calculate the net present value.

Part (c): Calculate the accounting rate of return.

 

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Devry BUSN 278 Homework 5 and Homework 6

Devry BUSN 278 Homework 5 and Homework 6

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Devry BUSN 278 Homework 5 and Homework 6

HOMEWORK 5

(TCO 7) The financial budgets include the:

cash budget and the selling and administrative expense budget.

cash budget and the pro forma balance sheet.

pro forma balance sheet and the pro forma income statement.

cash budget and the production budget.

Question 2. Question : (TCO 7) In a production budget, the units to be produced are the budgeted sales units plus:

beginning inventory.

desired ending inventory.

desired ending inventory plus beginning inventory.

desired ending inventory minus beginning inventory.

Question 3. Question : (TCO 7) The production budget shows planned sales of 43,000. Beginning inventory is 6,400. Units to be produced are 44,400. What is the desired ending inventory?

5,000

6,400

7,800

12,800

Question 4. Question : (TCO 7) If there were 70,000 pounds of raw materials on hand on January 1, 140,000 pounds are desired for inventory at January 31, and 420,000 pounds are required for January production, how many pounds of raw materials should be purchased in January?

350,000 pounds

560,000 pounds

280,000 pounds

490,000 pounds

Question 5. Question : (TCO 7) ABC Company expects the following sales and collection pattern for the last four months of the year:

Month Cash Sales Credit Sales Total Sales

September $25,000 $65,000 $90,000

October $28,000 $72,000 $100,000

November $26,000 $68,000 $94,000

December $30,000 $71,000 $101,000

  • ?????????5% of credit sales are collected in the same month
  • ?????????65% of sales are collected in the following month
  • ?????????25% of sales are collected in the second following month

What are the projected cash collections for the month of December?

$65,750

$92,200

$95,750

$99,000

HOMEWORK 6

(TCO 9) Fixed costs normally will not include

property taxes.

direct labor.

rent on buildings.

depreciation on buildings and equipment.

Question 2. Question : (TCO 9) Which one of the following would be the same total amount on a flexible budget and a static budget if the activity level is different for the two types of budgets?

Direct materials cost

Direct labor cost

Variable manufacturing overhead

Fixed manufacturing overhead

Question 3. Question : (TCO 9) The Wiscow Manufacturing Company recorded overhead costs of $14,182 at an activity level of 4,200 machine hours and $8,748 at 2,300 machine hours. The records also indicated that overhead of $9,730 was incurred at 2,600 machine hours. What is the fixed cost using the high-low method to estimate the cost equation?

$3,264

$5,434

$2,170

$7,604

Question 4. Question : (TCO 8) Southern Company’s budgeted and actual sales for 2009 were:

Product Budgeted Sales Actual Sales

X 20,000 units at $5.00 per unit 17,500 units at $5.30 per unit

Y 35,000 units at $9.00 per unit 37,300 units at $8.80 per unit

What is the total sales variance for the two products?

$2,210 Favorable

$5,990 Favorable

$6,990 Favorable

$8,200 Favorable

Question 5. Question : (TCO 8) Southern Company manufactures Product X. The standard cost of one unit of output is $12.00 (four pieces at $3.00 per piece). During the first quarter, 5,000 units were made, at an actual cost of $10.50 per unit (three pieces at $3.50 per piece). What is the total material variance?

$7,500 Favorable

$15,000 Favorable

$7,500 Unfavorable

$15,000 Unfavorable

Instructor Explanation: Total Material Variance = (Standard Quantity x Standard Price) versus (Actual Quantity x Actual Price)

Total Material Variance = (5,000 units x 4 pieces x $3.00) versus (5,000 units x 3 pieces x $3.50)

Total Material Variance = (20,000 x $3.00) versus (15,000 x $3.50) = $7,500 Favorable

 

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