The Research Paper (at least 8 pages) is to be written on a 12 font, using Times New Roman, double spaced, with a one inch margin, and follow APA format. All research papers are to be submitted by BlackBoard and will be submitted to Safe Assign. The required format follows:

BERNIE MADOFF PONZI SCHEME

Introduction Background

information on Bernie Madoff

Detailed summary on Ponzi Scheme

Restitution to Defrauded Investors

Present situation of Defrauded Investors

Ethics and finance

References

QUESTION 1
The company ABC calculated the cost of converting product A to $ 8 per unit. What would happen to the conversion cost for product A if all other factors remain the same but the cycle time increases?

a-The cost per unit would increase.

b-The cost per unit would decrease

c-The cost per unit will remain the same since the cycle time does not affect the conversion costs

QUESTION 2
Your supervisor has asked you to indicate that many more units were produced than they really were, so the cost per unit will be lower.

a-You must do it. After all, it's not like you're changing the total costs

b-You should not do it. You should report this to your supervisor's boss. The general expense is distributed in units; The more units you produce, the less each unit will cost.

c-You should do it. General expenses will not affect the unit cost of a product

QUESTION 3

You manage a subdivision of your company and would like to buy raw materials that have a discount that has not been budgeted. You have discussed this purchase with your manager and have been asked not to buy these materials because you will need cash for other purchases of the company in other departments. You should:

a-Buy the materials because they will save your company money in the long term given that they have a discount.

b-Do not buy the materials as it violates company policies and directives

c-Find another job since your manager is not doing the best for your division

QUESTION 4

1. The IMA Standards of Ethical Conduct include a competency standard, which requires the management accountant to:

a-Discuss with subordinates their responsibilities regarding the disclosure of information about the firm.

b-Report the information, whether favorable or unfavorable.

c-Develop your professional competence continuously.

Tipton company manufactures shirts. During June Tipton made 1200 shirts but had budgeted production at 1400 shirts.

Tipton gathered the following additional data:

13. Calculate the variable overhead cost variance.

Select the formula, then enter the amounts and compute the cost variance for variable overhead (VOH) and identify whether the variance is favorable (F) or unfavorable (U).

14. Calculate the variable overhead efficiency variance.

Select the formula, then enter the amounts and compute the efficiency variance for variable overhead and identify whether the variance is favorable (F) or unfavorable (U).

15. Calculate the total variable overhead variance

16. Calculate the fixed overhead cost variance

Select the formula, then enter the amounts and compute the cost variance for fixed overhead (FOH) and identify whether the variance is favorable (F) or unfavorable (U).

17. Calculate the fixed overhead volume variance

First, select the formula, then enter the amounts and compute the fixed overhead allocated to production. (Abbreviations used: SQ = standard quantity, AO = actual output.)

Now, select the formula, then enter the amounts and compute the fixed overhead volume variance and identify whether the variance is favorable (F) or unfavorable (U).

18. Calculate the total fixed overhead variance.

Slick Corporation is a small producer of synthetic motor oil. During May, the company produced 5,000 cases of lubricant. Each case contains 12 quarts of synthetic oil. To achieve this level of production, Slick purchased and used 16,500 gallons of direct materials at a cost of $20,134. It also incurred average direct labor costs of $15 per hour for the 3,927 hours worked in May by its production personnel. Manufacturing overhead for the month totaled $9,069, of which $2,200 was considered fixed. Slick's standard cost information for each case of synthetic motor oil is as follows.

Required:

a. Compute the materials price and quantity variances.

b. Compute the labor rate and efficiency variances.

c. Compute the manufacturing overhead spending and volume variances.

d. Prepare the journal entries to:

1. Charge materials (at standard) to Work in Process.

2. Charge direct labor (at standard) to Work in Process.

3. Charge manufacturing overhead (at standard) to Work in Process.

4. Transfer the cost of the 5,000 cases of synthetic motor oil produced in May to Finished Goods.

5. Close any over- or underapplied overhead to cost of goods sold.

Crossland Construction’s design/build department allows their clients (owners) to select the design and construction team based on their combined experience and track-record. Design/build firms typically have a cash flow problem since they tend to be paid in lump sums when projects are completed or hit milestones. However, their expenses, such as payroll, must be paid regularly. So, such firms need bank lines of credit to finance their initial costs, but in the past year, lines of credit were difficult to negotiate. The data file Crossland Construction contains month-end cash balances for the past 16 months.

a) Plot the data as a time-series graph. Fit a linear line to the data. Discuss what the graph implies concerning the relationship between cash balance and the time variable, month.
b) Fit a linear trend model to the data. Compute the coefficient of determination. Discuss the appropriateness of the linear trend model. What are the strengths and weaknesses of the model?
c) Referring to part b), compute the MAD and MSE for the 16 data points.

d) Plot the data as a time-series graph. Fit a polynomial line to the data. Discuss what the graph implies concerning the relationship between cash balance and the time variable, month.
e) Use the t2 transformation approach and recompute the linear model using the transformed time variable. Discuss whether this model appears to provide a better fit than did the model without the transformation. Compare the coefficients of determination for the two models. Which model seems to be superior, using the coefficient of determination as the criterion?
f) Referring to part e), compute the MAD and MSE for the 16 data values. Discuss how these compare to those that were computed in part c), prior to transformation. Do the measures of fit (R2, MSE, MAD) agree on the best model to use for forecasting purposes?

g) Use the linear trend model (without transformation) for the first 15 months and provide a cash balance forecast for month 16. Then use the transformation model for the first 15 months and provide a cash balance forecast for month 16. Now, compare the accuracy of the forecasts with and without the transformation. Which of the two forecast models would you prefer? Explain your answer.

Department G had 2,040 units 25% completed at the beginning of the period, 12,500 units were completed during the period, 1,700 units were 20% completed at the end of the period, and the following manufacturing costs debited to the departmental work in process account during the period: Work in process, beginning of period $34,900 Costs added during period: Direct materials (12,160 units at $9) 109,440 Direct labor 72,000 Factory overhead 24,000 All direct materials are placed in process at the beginning of production and the first-in, first-out method of inventory costing is used. What is the total cost of 2,040 units of beginning inventory which were completed during the period (round unit cost calculations to four decimal places and round your final answer to the nearest dollar)? a. $34,900 b. $48,512 c. $44,430 d. $46,812

“All experienced auditors would design exactly the same audit program for a particular audit engagement.” Do you agree? Explain. Remember to complete all parts of the problems. Do not forget to show the necessary steps and explain how you attained that outcome.

you are evaluating a new project and need an estimate for your project's beta. You have identified the following information about three firms with comparable projects.

The unlevered beta for Nod is closest to :

A.1.00

B.0.90

C.0.95

D.1.10

The following are selected transactions of Blue Spruce Department Store Ltd. for the current year ended December 31. Blue Spruce is a private company operating in the province of Manitoba where PST is 8% and GST is 5%. PDSL follows ASPE and has a periodic inventory system.

Prepare all the journal entries necessary to record the above transactions when they occurred and any adjusting journal entries relative to the transactions that would be required to present financial statements at December 31 in accordance with GAAP.

Identify the current liabilities that will be reported on Blue Spruce's December 31 SFP, and indicate the amount of each one.

Barstow Manufacturing Company has two service departments — product design and engineering support, and two production departments — assembly and finishing. The distribution of each service department's efforts to the other departments is shown below: FROM TO Design Support Assembly Finishing Design 0% 10% 30% 60% Support 20% 0% 45% 35% The direct operating costs of the departments (including both variable and fixed costs) were as follows: Design $140,000 Engineering Support $160,000 Assembly $550,000 Finishing $840,000 The total cost accumulated in the finishing department using the reciprocal method is(calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar): $1,062,857. $627,143. $682,551. $1,007,449. $1,890,000.

Boulderado has come up with a new composite snowboard. Development will take Boulderado four years and cost $250,000 per year, with the first of the four equal investments payable today upon acceptance of the project. Once in production the snowboard is expected to produce annual cash flows of $200,000 each year for 10 years. Boulderado's discount rate is 10%. The IRR for boulderado's snow board project is closest to : A. 10.4% B.10.0% C.11.0% D.15.1%

List and describe the technologies used in this case study.

Based on the inputs below prepare a capital budget analysis for this Base Case using the Net Present Value, Internal Rate of Return, Profitability Index and Payback in years methods, determining whether the project is feasible. Please show your spreadsheet calculations and your final determinations of “go” or “no go” on the project.

Project Inputs:

WACC – Debt is 70% and Equity is 30% of this firm’s capital structure. Interest rate on the debt is 7.5%, firm’s tax rate is 22%. Firm’s beta is 1.50, Risk Free Rate is 3.0%, Market Return Rate is 9.0%.

Project Investment Outlay, Year 0 - $1,000,000

Project Investment Life – 10 years

Project Depreciation - $100,000 / year

Project Salvage Value - $30,000

Working Capital Base of Annual Sales – 10%

Expected inflation rate per year – 3.0%

Project Tax Rate – 30%

Units sold per year – 40,000

Selling Price per Unit, Year 1 - $40.00

Fixed operating costs per year excluding depreciation - $175,000

Manufacturing (Variable) costs per unit, Year 1 - $30.00

1. The following selected accounts appeared in the unadjusted trial balance of Hawthorne Industries: -

Additional data:

1. One-half of the revenue received in advance has been earned by December 31, 2019
2. The prepaid insurance represents three years premium on a policy providing coverage starting September 1, 2019
3. Since the last payday, employees have earned an additional $2,500 which has not yet been paid or recorded
4. The equipment has an estimated life of 10 years and no expected value at the end of its life
5. Services performed but unbilled and uncollected at year end amounted to $6,500
6. The prepaid rent relates to one-half of the year beginning on October 1, 2019

Prepare the necessary year-end adjusting entries as of December 31, 2019.

2. The unadjusted trial balance and information regarding adjusting entries for Becky’s Carpets, Inc., is given below. Prepare the financial statements for Becky’s Carpet Inc., after making the necessary adjustments

Becky’s Carpets, Inc.,

Unadjusted Trial Balance

December 31, 2019

Adjusting entry information:

1. Salaries earned but unpaid at the end of the year, $1,500
2. Insurance expired, 700
3. Depreciation expense, 800
4. Unearned service revenue earned during the year, $1,500
5. The inventory of supplies at year end was $3,400

3. Galarus company had the following trial balance as of December 31, 2019

Galarus Company

Trial Balance

December 31, 2019

Additional information:

1. Supplies used during the month, $450
2. Prepaid insurance expired during the month, $300
3. Depreciation on equipment for the month, $550
4. Unearned service revenue earned during the month, $2,200
5. Accrued salary expense at the end of the month, $650

Based on the trial balance and the additional data, prepare financial statements for the year ended December 31, 2019

Citrus Girl Company (CGC) purchases quality citrus produce from local growers and sells the produce via the Internet across the United States. To keep costs down, CGC maintains a warehouse, but no showroom or retail sales outlets. CGC has the following information for the second quarter of the year:

1. Expected monthly sales for April, May, June, and July are $220,000, $190,000, $310,000, and $90,000, respectively.

2. Cost of goods sold is 30 percent of expected sales.

3. CGC’s desired ending inventory is 20 percent of the following month’s cost of goods sold.

4. Monthly operating expenses are estimated to be:

Salaries: $30,000.

Delivery expense: 4 percent of monthly sales.

Rent expense on the warehouse: $4,500.

Utilities: $800.

Insurance: $175.

Other expenses: $260.

Required:

1. Compute the budgeted cost of purchases for each month in the second quarter.

2. Complete the budgeted income statement for each month in the second quarter.