in Australia You are the new manager of the newly created Justice Health Planning Unit.

Your first task is to develop the first five-year health service plan for older inmates in the state’s(Australia)

1.How would you address these planning challenges?
(planning challenges -funding for physical and mental health, workforce supply, continuity of care, planning health care needs for minority)
,
2.Which services are likely to be most critical? Why? How will these be planned?

3.How would you forecast future service needs for these services?

4.How will you know if your planning has been effective?

You are about to play a series of 9 chess games online against an opponent called EliteChampion. The first to win 5 games wins the series. (Ignore the possibility of a draw.) You know that EliteChampion is most likely your friend, Jenna. There’s a 20% chance EliteChampion is your Mom, and that’s the only other possibility. You beat your Mom 70% of the time, but you only beat Jenna 40% of the time. Given that you won the first game, what is the probability you will win the series? Give an exact answer and also give a numerical approximation, correct to four decimal places.

1. During the first month of operations ended July 31, YoSan Inc. manufactured 2,400 flat panel televisions, of which 2,000 were sold. Operating data for the month are summarized as follows:

   Sales		$2,150,000
   Manufacturing costs:
   Direct materials	$960,000
   Direct labor	420,000
   Variable manufacturing cost	156,000
   Fixed manufacturing cost	288,000	1,824,000
   Selling and administrative expenses:
   Variable	$204,000
   Fixed	96,000	300,000

   Required:

   1. Prepare an income statement based on the absorption costing concept.

   YoSan Inc.
   Absorption Costing Income Statement
   For the Month Ended July 31
   Contribution margin Gross profit Inventory, July 31 Manufacturing margin Sales		$
   Cost of goods sold:
   Cost of goods manufactured Fixed manufacturing costs Fixed selling and administrative expenses Inventory, July 31 Total cost of goods sold	$
   Contribution margin Cost of goods manufactured Fixed manufacturing costs Inventory, July 31 Total cost of goods sold
   Fixed selling and administrative expenses Gross profit Inventory, July 31 Manufacturing margin Total cost of goods sold
   Gross profit Inventory, July 31 Manufacturing margin Sales Selling and administrative expenses		$
   Contribution margin Cost of goods sold Inventory, July 31 Selling and administrative expenses Variable selling and administrative expenses
   Income from operations Loss from operations		$

   2. Prepare an income statement based on the variable costing concept.

   YoSan Inc.
   Variable Costing Income Statement
   For the Month Ended July 31, 2016
   Contribution margin Fixed manufacturing costs Gross profit Manufacturing margin Sales		$
   Variable cost of goods sold:
   Cost of goods sold Cost of goods manufactured Manufacturing margin Variable cost of goods manufactured Variable selling and administrative expenses	$
   Contribution margin Cost of goods sold Fixed manufacturing costs Fixed selling and administrative expenses Inventory, July 31
   Fixed manufacturing costs Sales Total Variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses
   Contribution margin Fixed manufacturing costs Gross profit Inventory, July 31 Manufacturing margin		$
   Fixed manufacturing costs Fixed selling and administrative expenses Inventory, July 31 Manufacturing margin Variable selling and administrative expenses
   Contribution margin Cost of goods manufactured Fixed selling and administrative expenses Inventory, July 31 Manufacturing margin		$
   Fixed costs:
   Fixed contribution margin Fixed manufacturing costs Fixed sales Total Variable cost of goods sold Variable cost of goods manufactured	$
   Fixed selling and administrative expenses Fixed manufacturing margin Total Variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses
   Fixed selling and administrative expenses Fixed manufacturing margin Total fixed costs Variable cost of goods manufactured Variable selling and administrative expenses
   Income from operations Loss from operations		$

   3. Explain the reason for the difference in the amount of income from operations reported in (1) and (2).

   The income from operations reported under

   • absorption
   • variable
   costing exceeds the income from operations reported under
   • absorption
   • variable
   costing by the difference between the two, due to
   • fixed
   • variable
   manufacturing costs that are deferred to a future month under
   • absorption
   • variable
   costing.

Maple company uses the periodic inventory system. The beginning balance of inventory and subsequent inventory purchases made by the company during the month of March 2019 are given below:
• March 01: Beginning inventory, 450 units @ $18 per unit.
• March 18: Inventory purchased, 600 units @ $20 per unit.
• March 25: Inventory purchased, 700 units @ $26 per unit.
The Mark company sold 1,300 units during the month of March.
Required:
Calculate the cost of goods sold and ending inventory on March 31, 2019 using the following inventory costing methods:
1. First in, first out (FIFO) method
2. Weighted Average cost method

On June 1, 2020, Sheffield Corporation approached Silverman Corporation about buying a parcel of undeveloped land. Silverman was asking $258,000 for the land and Sheffield saw that there was some flexibility in the asking price. Sheffield did not have enough money to make a cash offer to Silverman and proposed to give, in return for the land, a $305,000, five-year promissory note that bears interest at the rate of 4%. The interest is to be paid annually to Silverman Corporation on June 1 of each of the next five years. Silverman insisted that the note taken in return become a mortgage note. Silverman accepted the amended offer, and Sheffield signed a mortgage note for $305,000 due June 1, 2025. Sheffield would have had to pay 10% at its local bank if it were to borrow the cash for the land purchase. Silverman, on the other hand, could borrow the funds at 9%. Both Sheffield and Silverman have calendar year ends.

Click here to view the factor table PRESENT VALUE OF 1.
Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1.

Using (1) factor tables, (2) a financial calculator, or (3) Excel function PV, calculate the purchase price of the land and prepare an effective interest amortization table for the term of the mortgage note payable that is given in the exchange. (Hint: Refer to Chapter 3 for tips on calculating.) (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places, e.g. 5,275.)

eTextbook and Media

List of Accounts

Prepare the journal entry for the purchase of the land. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

eTextbook and Media

List of Accounts

Prepare any adjusting entry that is required at the end of the fiscal year and the first payment made on June 1, 2021, assuming no reversing entries are used. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

eTextbook and Media

List of Accounts

Assume that Silverman had insisted on obtaining an instalment note from Sheffield instead of a mortgage note.

Using (1) factor tables, (2) a financial calculator, or (3) Excel function PMT, calculate the amount of the instalment payments that would be required for a five-year instalment note. (Hint: Refer to Chapter 3 for tips on calculating.) Use the same cost of the land to Sheffield Corporation that you determined for the mortgage note in a previous part of the question. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places, e.g. 5,275.)

eTextbook and Media

List of Accounts

Assume that Silverman had insisted on obtaining an instalment note from Sheffield instead of a mortgage note.

Prepare an effective interest amortization table for the five-year term of the instalment note. (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 5,275. Do not leave any answer field blank. Enter 0 for amounts.)

eTextbook and Media

List of Accounts

Prepare the journal entry for the purchase of the land and the issuance of the instalment note. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

eTextbook and Media

List of Accounts

Prepare any adjusting journal entry that is required at the end of the fiscal year and the first payment made on June 1, 2021, assuming no reversing entries are used. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Required:

During the year 2017, the district engaged in the following transactions. Make appropriate journal entries. This is the first year of operations.

Post the journal entries to the general ledgers.

Balance Sheet showing the status of year‐end asset and fund balance accounts.

Statement of Revenues, Expenditures and Changes in Fund Balances for the year.

The following are the transactions that are needed for the above requirements:

Prior to the start of the year, the governing board adopted a budget in which agency revenues were estimated at $5,600 (all dollar amounts in this exercise are expressed in thousands) and expenditures of $5,550 were appropriated (authorized). Record the budget using only the control (summary) accounts.

It collected $5,800 in fees, grants, taxes, and other revenues.

It ordered goods and services for $3,000. Except in special circumstances it classifies reserves for encumbrances as “assigned” fund balance.               

During the year it received and paid for $2,800 worth of goods and services that had been previously encumbered. It expects to receive the remaining $200 in the following year.               

It incurred $2,500 in other expenditures for goods and services that had not been encumbered.

Trez Company began operations this year. During this first year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows.

1. Selling and administrative expenses consist of $450,000 in annual fixed expenses and $1.75 per unit in variable selling and administrative expenses.
2. The company's product cost of $20 per unit is computed as follows.

Direct materials $4 per unit

Direct labor $5 per unit

Variable overhead $3 per unit

Fixed overhead ($800,000 / 100,000 units) $8 per unit

1. Prepare an income statement for the company under variable costing.

On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 1 Sales (22,000 units) $2,200,000.00 2 Cost of goods sold: 3 Cost of goods manufactured (25,200 units) $2,016,000.00 4 Inventory, November 30 (3,200 units) (256,000.00) 5 Total cost of goods sold 1,760,000.00 6 Gross profit $440,000.00 7 Selling and administrative expenses 160,000.00 8 Income from operations $280,000.00 If the fixed manufacturing costs were $201,600 and the fixed selling and administrative expenses were $110,000, prepare an income statement according to the variable costing concept. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon (:) will automatically appear if required. Enter all amounts as positive numbers. Round your cost per unit answer to two decimal places and final answers to nearest whole dollar.

For each of the following cases determine the ending balance in the inventory account. (Hint: First, determine the total cost of inventory available for sale. Next, subtract the cost of the inventory sold to arrive at the ending balance.)

a. Jill’s Dress Shop had a beginning balance in its inventory account of $47,500. During the accounting period, Jill’s purchased $97,500 of inventory, returned $6,500 of inventory, and obtained $900 of purchases discounts. Jill’s incurred $1,300 of transportation-in cost and $750 of transportation-out cost. Salaries of sales personnel amounted to $38,500. Administrative expenses amounted to $43,100. Cost of goods sold amounted to $97,300.

b. Ken’s Bait Shop had a beginning balance in its inventory account of $11,000. During the accounting period, Ken’s purchased $48,900 of inventory, obtained $1,500 of purchases allowances, and received $510 of purchases discounts. Sales discounts amounted to $790. Ken’s incurred $1,200 of transportation-in cost and $410 of transportation-out cost. Selling and administrative cost amounted to $13,800. Cost of goods sold amounted to $36,900.
cost of goods available for sale

ending inventory

It is your first day as an intern at Frank's furniture, a major supplier of tables and chairs to some of the largest restaurants in the world. The Plant Controller has a big meeting tomorrow with the executive team and requests your help in preparing the financial information for the meeting. The Controller asks you to review the General Ledger accounts and prepare (A) an income statement and attach (B) a supporting cost of goods manufactured and sold statement.