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Individual Case Study 2 Master Budget, Cash Budget and Budgeted Income Statement After two years study...

Individual Case Study 2 Master Budget, Cash Budget and Budgeted Income Statement
After two years study at UCW, you finally graduate and start a job as Junior accountant at All About The Beard Inc.(AATB). Your manager is responsible for the national distribution of men grooming sets. Because of the new fashion style among current generation, the company has grown rapidly, and the prompt growth forces the management team to improve their efficiency and manage their production effectively.
You have just been given responsibility for all planning and budgeting of the entire men grooming set division. Today is your first day, you have just given an assignment to prepare master budget for the manager, who needs to present the budget and discuss the financial objectives with the shareholders tomorrow. During your job interview, you clearly stated that you gained managerial accounting knowledge and hand on experience during your MBA study.
Your first assignment is to prepare a master budget for the next fiscal year, starting October 1, 2020. The office manager brought a pile of files on your desk including the past sale records, product information, manufacture schedule and supplier pricing list. Now, you realized that you should have pay more attention during the lecture rather than checking your social media page. Now, you don’t know where to start. Fortunately, you remember that you still kept a copy spreadsheet of the master budget template in your computer from the accounting course during your MBA study.
Note: The company desires a minimum ending cash balance each quarter on $35,000. The beard grooming products are sold to retailers for $20 each and the sales have been stagnant due to the Covid-19. However, the marketing department has been positive toward the end of the year due to season change and upcoming holiday. The marketing department has just sent you their forecasted quarter sales and marketing budget.
Quarter
2020 Q4
2021 Q1
2021 Q2
2021 Q3
2021 Q4
2022 Q1
Sales in Unit
30,000
35,000
40,000
65000
68000
70,000
Marketing Expenses
$35,000
$20,000
$20,000
$45,000
$45,000
$45,000
The increased sales volume before and during June and January is due to Father’s Day and holidays with AATB being a favorite. Ending finished goods inventories are supposed to be equal to 20% of the next quarter’s sales in units. AATB currently does its own assembly production in house. Each unit consists of 3 shaves and the cost of each is $1.50. Each unit needs 0.10 labour hour from assemble to finish package. The hourly pay rate to the assembling workers is $15 per hour. The production manager also required desired direct material ending inventory to 30% of the next quarter production.
Purchases are paid for in the following manner: 50% in the quarter of the purchase and the remaining 50% paid in the quarter following the purchase. All sales to the distributors are made on credit terms with no discount (for now), and payable within 15 days. The AATB has determined that only 50% of sales are collected by the end of the quarter in which the sale occurred. An additional 30% is collected in the quarter following the sale, and the remaining 20% is collected in the second quarter following the sale. Bad debts have been negligible, supporting the credit terms as favorable.
Below is a display of the AATB division monthly manufacture overhead and selling and administrative expenses:

Manufacture Overhead
Variable:
Indirect labour $0.5 per labour hour
Indirect Materials $0.2 per labour hour
Fixed:
Wages and Salaries $2,000 per month
Utilities $1,500 per month
Insurance $2,000 per month
Depreciation $2,000 per month
Selling and Administrative
Variable:
Sales Commissions $1 per unit
Fixed (Monthly) :
Wages and Salaries $22,000
Utilities $6,000
Insurance $1,200
Depreciation $1,500
Miscellaneous $3,000
Labour, Manufacture Overhead, and Selling and Administrative expenses are all paid during the month, in cash, with the exception of depreciation (of course). AATB will make a purchase of a parcel of land during the first quarter of 2021 for $22,500 cash. AATB contributes to the corporate dividend at a rate of $12,000 each quarter, payable in the first month of the following quarter. AATB’s balance sheet at the end of the third quarter is shown below:
Assets
Cash $14,000
Accounts receivable ($48,000 sales in Q2 and $152,000 in Q3 this year ) $200,000
Liabilities
Accounts payable $85,700
An agreement with Bank of the West allows AATB to borrow in increments of $1,000 at the beginning of each month, up to a total loan amount of $550,000. The interest rate on these loans is 12% annually (pretty high considering market rates) but the interest is not compounded, meaning this is simple interest only.
Required:
Prepare a master budget for twelve months from Oct, 2020 to Oct, 2021. Include the following budget schedules and financial statements:
1) Master Budget
2) Cash Budget. Show the cash budget by month and in total.
3) Budgeted Income statement

In: Accounting

HighLight is an online company that sells lighting products toboth the building industry and individual...

HighLight is an online company that sells lighting products to both the building industry and individual consumers. As a result of its very competitive price schemes, HighLight has developed an extensive customer base, which is reflected in its burgeoning database of customer details, purchasing history and Web usage data. Recognising that this data is potentially valuable to third parties, HighLight’s directors discuss the prospect of selling its customer database to a large insurance company, thus allowing the insurance company to target advertising and mailouts about home and contents insurance packages to home owners. The directors are split on the issue — some view this as an exciting way to add value to their customers, through customised product offerings, while others see it as a gross misuse of information that is not in keeping with the original purpose for which the data were gathered. You have been engaged by HighLight as an ethics consultant and asked to advise the organisation on the possibilities that exist to resolve the boardroom debate. Required Work through the 5 steps of the ethical decision-making model presented in the lecture to evaluate what course of action HighLight should take.

In: Operations Management

A property management company manages individual properties they will build to rent, and charges them a...

A property management company manages individual properties they will build to rent, and charges them a management fee as the percentages of the monthly rental amount. The properties cannot overlap each other, and each property must be within the limits of the management company’s plot. Write an application that lets the user create a management company and add the properties managed by the company to its list. Assume the maximum number of properties handled by the company is 5

Project Contents Provided:- https://openload.co/f/9kXYDsV3w6A/Assignment_%234.zip

Assignment Document:- https://openload.co/f/PojQcH-X7Zo/Asgnmt4-F2018.docx

In: Computer Science

A property management company manages individual properties they will build to rent, and charges them a...

A property management company manages individual properties they will build to rent, and charges them a management fee as the percentages of the monthly rental amount. The properties cannot overlap each other, and each property must be within the limits of the management company’s plot. Write an application that lets the user create a management company and add the properties managed by the company to its list. Assume the maximum number of properties handled by the company is 5

Concepts tested: • Aggregation • Passing object to method • Array Structure • Objects as elements of the Array • Processing array elements • Copy Constructor • Junit test

Classes:

The class Property will contain: 1. Instance variables for property name, city, rental amount, owner, and plot. Refer to JavaDoc for the data types of each instance variable. 2. toString method to represent a Property object. 3. Constructors (a copy constructor and parameterized constructor) and getter and setter methods. One parameterized constructor will have parameters for property name, city, rent amount, owner, x and y location of the upper left corner of the property’s plot, the plot’s width and its depth. A second constructor will only have parameters for name, city, rental amount, and owner, and will generate a default x, y, width, and depth.

The class Plot will contain: 1. Instance variables to represent the x and y coordinates of the upper left corner of the location, and depth and width to represent the vertical and horizontal extents of the plot. 2. A toString method to represent a Plot object 3. Constructors (a no-arg constructor, a copy constructor and a parameterized constructor) 4. A method named overlaps that takes a Plot instance and determines if it is overlapped by the current plot. 5. A method named encompasses that takes a Plot instance and determines if the current plot contains it. Note that the determination should be inclusive, in other words, if an edge lies on the edge of the current plot, this is acceptable. This class should not have any output functionality (e.g., no GUI-related or printing related functionality), but should take input, operate on the data structure, and return values or set variables that may be accessed with getters.

The class ManagementCompany will contain the following methods in addition to get and set methods: 1. Instance variables of name, tax Id, management fee, MAX_PROPERTY (a constant set to 5) and an array of size MAX_PROPERTY of Property objects. 2. Constructor managementCompany – pass in arguments for the name of the management company, tax Id and management Fee, along with the X, Y, width, and depth of the overall plot that will be subdivided into plots for each property. A ManagementCompany object will be created. 3. Constructor managementCompany – pass in arguments for the name of the management company, tax Id and management Fee to create a ManagementCompany object. A default plot will be created with programmer-determined values into which to subdivide the plots for each property. 4. Method addProperty (3 versions) – a. Pass in a parameter of type Property object. It will add the Property object to the properties array. b. Pass in four parameters of types: i. String propertyName, ii. String city, iii. double rent, and iv. String ownerName. c. Pass in eight parameters of types: i. String propertyName, ii. String city, iii. double rent, iv. String ownerName, v. int x, vi. int y, vii. int width, and viii. int depth. d. It returns -1 if the array is full, -2 if property is null, -3 if the plot is not contained by the MgmtCompany’s plot, -4 if the plot overlaps any other property, or the index in the array where the property was added successfully. 5. Method totalRent– Returns the total rent of the properties in the properties array. 6. Method maxPropertyRent-returns the String representation of the property within the properties array that has the highest fee amount. For simplicity assume that each "Property" object's fee amount is different. 7. Method maxPropertyIndex- returns the index of the property within the properties array that has the highest fee amount. This method will be private. 8. Method displayPropertyAtIndex– pass in the index of the Property object in the properties array and return the string representation of the property. This method will be private.

Driver class – (provided)

GUI Driver class – (provided)

JUnit Test (provided)

Write a Data Element Class named Property that has fields to hold the property name, the city where the property is located, the rent amount, the owner's name, and the Plot to be occupied by the property, along with getters and setters to access and set these fields. Write a parameterized constructor (i.e., takes values for the fields as parameters) and a copy constructor (takes a Property object as the parameter). Follow the Javadoc file provided.

Write a Data Element Class named Plot that has fields specifying the X and Y location of the upper left corner of each Plot and a depth and width of each Plot. Notice that the X,Y location is at the upper left, not as in normal Cartesian coordinates, due to the grid system adopted by computer monitors. A driver class is provided that creates rental properties to test the property manager. A Graphical User Interface is provided using JavaFX which duplicates this driver’s functionality. You are not required to read in any data, but the GUI will allow you to enter the property management company and each property by hand. A directory of images is provided. Be sure to place the “images” directory (provided) inside the “src” directory in Eclipse. Operation When driver-driven application starts, a driver class (provided) creates a management company, creates rental properties, adds them to the property manager, and prints information about the properties using the property manager’s methods. When the GUI-driven application starts (provided), a window is created as in the following screen shots which allows the user to enter applicable data and display the resulting property. The driver and the GUI will both use the same classes and methods for their operation. The JUnit test class also tests the same classes as the driver and the GUI.

Can someone please help me with the Plot class?

In: Computer Science

A company manufactures concrete blocks for construction purposes. We know that the weights of the individual...

  1. A company manufactures concrete blocks for construction purposes. We know that the weights of the individual concrete blocks are normally distributed with a mean value of 11 kg, and a standard deviation of 0.3 kg.
  1. The company can be 99% confident that the any randomly selected concrete block has a weight within the interval
  2. The probability that a concrete block weighs less than 10.5 kg is

In: Statistics and Probability

Congratulations! You have been hired as a consultant to advise Saint Leo University Hospital leadership on...

Congratulations! You have been hired as a consultant to advise Saint Leo University Hospital leadership on the development of a Disaster Preparedness and Response Plan. Saint Leo University Hospital is currently under construction and will celebrate its grand opening twelve months from the beginning of this course. Among the many projects to be completed before the hospital welcomes its first patients is writing the Disaster Preparedness and Response Plan. For this consultancy, select one of the following public health emergencies as the basis for formulating insights and recommendations to Saint Leo University Hospital leadership for its new Disaster Preparedness and Response Plan. ? Option 1: HurricaneThe module-by-module instructions for the term project are as follows:

Step 6A: Write approximately 750 focused, clear, concise, convincing, well-structured, and individually-authored words explaining how application of concepts in the Module 6 textbook chapters (e.g., strategic management, interorganizational collaboration, organizational values/mission/vision) informs the development, adoption, and eventual execution of Saint Leo University Hospital’s Disaster Preparedness and Response Plan for the selected public health emergency hurricane Apply and cite at least three references (e.g., disaster plans, scholarly articles) above and beyond the textbook

In: Nursing

Congratulations! You have been hired as a consultant to advise Saint Leo University Hospital leadership on...

Congratulations! You have been hired as a consultant to advise Saint Leo University Hospital leadership on the development of a Disaster Preparedness and Response Plan. Saint Leo University Hospital is currently under construction and will celebrate its grand opening twelve months from the beginning of this course. Among the many projects to be completed before the hospital welcomes its first patients is writing the Disaster Preparedness and Response Plan. For this consultancy, select one of the following public health emergencies as the basis for formulating insights and recommendations to Saint Leo University Hospital leadership for its new Disaster Preparedness and Response Plan. ? Option 1: Hurricane The module-by-module instructions for the term project are as follows:

Step 8A: Write approximately 750 focused, clear, concise, convincing, well-structured, and individually-authored words explaining how application of concepts in the Module 8 textbook chapters (e.g., personal responsibility, health information privacy, ethics, international collaboration) informs the development, adoption, and eventual execution of Saint Leo University Hospital’s Disaster Preparedness and Response Plan for the selected public health emergency hurricane Apply and cite at least three references (e.g., disaster plans, scholarly articles) above and beyond the textbook.

In: Nursing

8. You are the manager in charge of monitoring cash flow at a company that makes...

8. You are the manager in charge of monitoring cash flow at a company that makes photography equipment. Traditional photography equipment comprises 80 percent of your revenues, which grow about 2 percent annually. You recently received a preliminary report that suggests consumers take three times more digital photographs than photos with traditional film, and that the cross-price elasticity of demand between digital and disposable cameras is -0.2. In 2009, your company earned about $400 million from sales of digital cameras and about $600 million from sales of disposable cameras.

Using the information above, if the own price elasticity of demand for disposable cameras is -2.5, how will a 1 percent decrease in the price of disposable cameras affect your overall revenues from both disposable and digital camera sales? In your answer compute:

a. The change in revenues in dollars from the resulting sale of disposable cameras after the 1 percent decrease in
     the price of disposable cameras.

b. The change in revenues in dollars from the resulting sale of digital cameras after the 1 percent decrease in the
   price of disposable cameras.

c. The total effect on sales for the company after the 1 percent decrease in the price of disposable cameras.

In: Economics

Costa Cruise Lines (CCL) (a U.S. company based in Miami, FL) purchased a ship from Komatsu...

Costa Cruise Lines (CCL) (a U.S. company based in Miami, FL) purchased a ship from Komatsu Heavy Equipment for ¥700 million – payable in 1 year.  The current spot rate is ¥110/$ and the one-year forward rate is ¥108/$.  

For borrowing (or depositing), the annual interest rate in Japan is 6%.  In the United States, the rate is 2%.

Yen call and put options, with a 1-year expiration date and an exercise price of $.009 are available. The price (premium) of the call option is $.002 per yen.  The price (premium) of the put option is $.001 per yen.

* Assume that one year from today, the spot rate for yen is either ¥130/$ or ¥105/$.  If CCL decides to hedge with options, should they use a call or a put?  If CCL follows the appropriate options hedging strategy, what is CCL’s net cost (in $US) to purchase the ship if the spot rate is ¥130/$?  What is the net cost if the spot rate is ¥105/$?  (Be sure to include the cost of buying the option in your answer.)

Recommended strategy (check one box):  Call options….□                   Put options….□

Net Cost if ¥130/$ = $____________________    Net cost if ¥105/$  = $____________________

* If CCL decides to hedge with a forward contract, what will the ship cost (in $US)?

* If CCL decides to use a money market hedge, what will the ship cost (in $US)?

In: Finance

There is not a cure for HIV yet, but there is an effective treatment for reducing...

There is not a cure for HIV yet, but there is an effective treatment for reducing the likelihood of transmission of HIV from an infected mother to her unborn child (or born child, through breast milk). In the absence of treatment, the likelihood of transmission averages about 25%. In collaboration with Eastern Mediterranean University Faculty of Pharmacy, a Cyprus based, private pharmaceutical company KuntePharma develop a new drug called HIV-OFF. Researchers from the university and KuntePharma, travel to X country in Africa and ask 200 pregnant HIV-positive mothers there to participate in a trial for a new drug that reduces, “from mother to child” HIV transmission. It is said that, the reasons of choosing Africa are: “Compared to Cyprus it would cost much less and the fact that laws and regulations allow more flexibility to conduct the research in the X country”. The give 100 women a placebo, and they give 100 women HIV-LESS. Of the 100 HIV-LESS children, only 1 contract HIV. Of the 100 placebo children, 44 do. In this study, 45 children contract HIV, when it is likely that, if all the participants were given HIV-LESS, less would have. Are the scientists morally responsible for the transmission of HIV to more children in this trial? Remembering the concepts Consent, Placebo, Risk-benefit-harm, The Rights of the Patients, exploitation; respect for persons and utilitarian approaches and others that you might think relevant to this case, which were discussed during the course, discuss if this trial is ethical? You might compare the dynamics of this case with historic examples that caused drastic changes in understanding of experimentations on human beings and formed the present day ethical principles and laws.

In: Anatomy and Physiology