Erin McKenna’s Bakery’s Florida location is at Disney Springs. Please review the web page about her bakery. As a result of COVID-19, Disney Springs has closed indefinitely. Locations in New York City and Los Angeles are also impacted. Like so many businesses, sadly 2020 is not going as planned for Erin.

Erin’s budget plans for 2020 were most likely set before January 1^{st ,} way before the current situation unfolded.

Here are the three initial questions for this discussion. Each student should post the answers to these questions individually (due date is Friday April 10th at Midnight). Then, once students have done their initial post, you are required to post at least four comments as you discuss everyone's responses as a group (due date is Tuesday April 14th at Midnight). No final group response is required on this assignment - just the posts conversing back and forth with the group will be enough.

Question 1: Erin McKenna’s Bakery will definitely have significant budget variances due to the COVID-19 virus business closure, especially if she receives no assistance financially from an outside source. After reviewing the web page, discuss the potential impact of COVID-19 on sales, operating expenses, cash receipts and cash disbursements. Be detailed in your answers - please mention specific impacts within those four categories. (10 points)

Question 2: Erin McKenna’s Bakery has less than 500 employees, therefore her business could qualify for some of the Small Business Administration programs (Links to an external site.) that are included in the CARES Act (Links to an external site.) that was signed into law by President Trump on Friday March 27^th. (10 points)

A. How can the Paycheck Protection Program (Links to an external site.) help Erin’s business?

B. How can the EIDL Loan Advance (Links to an external site.) help Erin’s business?

C. How can the SBA Express Bridge Loans (Links to an external site.) help Erin’s business?

Question 3: How do you feel about the outlook for Erin McKenna's Bakery's future, if she pursues some of these options with the Small Business Administration? Your answer should be a full paragraph, not just a single sentence. (10 points)

Breakin Away Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee:

For the current pay period, the computer programmer worked 60 hours and the administrator worked 50 hours. The federal income tax withheld for all three employees, who are single, can be determined by adding $356.90 to 28% of the difference between the employee's amount subject to withholding and $1,796.00. Assume further that the social security tax rate was 6%, the Medicare tax rate was 1.5%, and one withholding allowance is $70.

Determine the The total earnings of an employee for a payroll period.gross pay and the Gross pay less payroll deductions; the amount the employer is obligated to pay the employee.net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are 40 hours. If required, round your answers to two decimal places.

Standards for Nonmanufacturing Expenses

CodeHead Software Inc. does software development. One important activity in software development is writing software code. The manager of the WordPro Development Team determined that the average software programmer could write 25 lines of code in an hour. The plan for the first week in May called for 4,650 lines of code to be written on the WordPro product. The WordPro Team has five programmers. Each programmer is hired from an employment firm that requires temporary employees to be hired for a minimum of a 40-hour week. Programmers are paid $32.00 per hour. The manager offered a bonus if the team could generate more lines for the week, without overtime. Due to a project emergency, the programmers wrote more code in the first week of May than planned. The actual amount of code written in the first week of May was 5,650 lines, without overtime. As a result, the bonus caused the average programmer's hourly rate to increase to $40.00 per hour during the first week in May.

Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. If an amount is zero, enter "0" and choose "Not applicable" from the dropdown.

Required:

1. If the team generated 4,650 lines of code according to the original plan, what would have been the labor time variance?
$

2. What was the actual labor time variance as a result of generating 5,650 lines of code?
$

3. What was the labor rate variance as a result of the bonus?
$

4. Are there any performance-related issues that the labor time and rate variances fail to consider?

The labor rate and time variances the number of errors in the code from programmer fatigue. A program that has will require significant time for debugging at a later date. Thus, managers the efficiency of doing the work and also the quality of the work.

5. The manager is trying to determine if a better decision would have been to hire a temporary programmer to meet the higher programming demand in the first week of May, rather than paying out the bonus. If another employee was hired from the employment firm, what would have been the labor time variance in the first week?
$

6. Which decision is better, paying the bonus or hiring another programmer?

Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November 2019, $94,110; December 2019, $84,830; January 2020, $102,390; February 2020, $123,530; and March 2020, $131,560. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2019 and expected purchases for 2020 are December 2019, $17,540; January 2020, $16,370; February 2020, $18,950; and March 2020, $19,050. (a) Prepare the following schedules for each month in the first quarter of 2020 and for the quarter in total: 1) Expected collections from clients. (2) Expected payments for landscaping supplies. (b) Determine the following balances at March 31, 2020: (1) Accounts receivable (2) Accounts payable

Green Landscaping Inc. is preparing its budget for the first quarter of 2020. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected. Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2019 and expected service revenues for 2020 are November 2019, $94,110; December 2019, $84,830; January 2020, $102,390; February 2020, $123,530; and March 2020, $131,560. Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2019 and expected purchases for 2020 are December 2019, $17,540; January 2020, $16,370; February 2020, $18,950; and March 2020, $19,050.

Youlett Packard Corporation (YPC) is a multinational computer hardware, software and services corporation. The company invests considerable amounts in research and development each year. In the most recent fiscal year 2012, the R&D expense was $1,020. The pre-tax operating income for YPC was $3,000m and the book value of capital was $5,000m. The R&D expenses for the prior 5 years are as follows: $950 (2011), $940 (2010), $930 (2009), $920 (2008), $910 (2007). The effective tax rate is 40%.

(a). Assuming an amortizable life of 5 years, determine the amortization of capitalised R&D in each of the previous 5 years .

(b). Determine the Value of Research Asset for YPC and the R&D amortization expense for the current year .

(c). Compute the Return on Capital (ROC) for YPC before and after capitalising the R&D expenses

True Financial corporation is a financial services holding company headquartered in ithaca new york, that offers banking insurance and wealth management service. It pays cash dividends quarterly and also issues stock dividends periodically.

1. At March 31, 2012, True had 9,726,700 shares issued with a par value of $7.00 per share and $75,00 share held in treasury. On April 25, 2012, the company announced that its Board of Directors approved payment of a regular quarterly cash dividend of 3.50 per share , payable on May 15, 2012, to common shareholder of record on May 7,2012. Assume no shares were acquired or sold by the company after March 31. Give the journal entry to record the declaration of the cash dividend.

2. At December 31, 2009, True reported 5,918,200 shares issued with a par value of $7.00 per share and 11,200 share held in treasury. On January 27,2010, the company announced that its board of directors approved payment of a regular quarterly cash dividend of $3.60 per share, payable on February 25, 2010 to common shareholders of record on February 5, 2010. The board also approved the payment of 5% stock dividend distributable on February 25, 2010, to common shareholders of record on February 5, 2010. The share price was $50 when the stock dividend was issued. Assume no treasury shares were acquired or sold after June 30. Prepare the journal entry to record true 's stock dividend.

3. True issued 5% stock dividends in 1995, 2003, 2005, 2006, 2010. In 1998, True issued a three-for-one split. If an investor purchased 1,200 shares in 1994, how many shares would the investor have in 2012?

Carla Corporation has one temporary difference at the end of 2020 that will reverse and cause taxable amounts of $57,000 in 2021, $61,800 in 2022, and $67,300 in 2023. Carla’s pretax financial income for 2020 is $286,600, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2020.

Compute taxable income and income taxes payable for 2020.

Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2020

Prepare the income tax expense section of the income statement for 2020, beginning with the line “Income before income taxes.”.

LAW Questions

1. Explain what is collective bargaining what is the benefit of it

2. What is the NLRB?

3.   Is picking lawful? Explain

4. Why is lockout called a "management weapon?"