1. Prepare a Sales Budget. Toyota Motor is Preparing bugets for the quarter that ends in December 31^st.

Budget Sales of Yaris Model for the next months are:

September       4,000 units

October            10,000 units

November        6,000 units

December         5,000 units

January             5,000 units

Selling Price is  $16,000 per unit.

2. The Management of Toyota Motor wants ending inventory to be equal to 1,000 sales units. On September 30, 2,000 units were on hand. Prepare a production budget.

3. Prepare a Direct Material Budget, using the amount of $7,000 for the Direct Materials required per unit. Management don’t want material on hand at the end of each month.

4. Prepare a Direct Labor Budget. For the three months, the direct labor workforce will be paid for a flat rate of $10/hour. Required work hours are 2,000 hours per month.

5. Prepare the Overhead Budget for the Quarter with the following information:

Indirect labor                Oct = $10,000; Nov = $8,000; Dec = $8,000

Indirect Material           Oct = $2,000; Nov = $2,000; Dec = $2,000

Utilities                         Oct = $5,000; Nov = $4,000; Dec = $6,000

Rent                             Oct = $50,000; Nov = $50,000; Dec = $50,000

Insurance                     Oct = $2,100; Nov = $2,000; Dec = $1,800

Maintenance                Oct = $2,000; Nov = $21000; Dec = 2,500

Bonus! Write down the six steps in the Decision Making Process.

Lauren deposited $14,500 into a fund at the beginning of every quarter for 16 years. He then stopped making deposits into the fund and allowed the investment to grow for 4 more years. The fund was growing at 4.53% compounded monthly.

a. What was the accumulated value of the fund at the end of year 16?

b. What was the accumulated value of the fund at the end of year 20?

c. What is the total amount of interest earned over the 20-year period?

Assume your company has the following adjusted account balances at the end of the quarter for all dividend, revenue, and expense accounts. All accounts have a normal debit or credit balance. Financial statements are prepared on a quarterly basis.

Dividends: $14,000

Services Revenue: $100,000

Rent Expense: $9,000

Salaries Expense: $23,000

Utilities Expense: $6,000

Depreciation Expense - Furniture: $18,000

1. Prepare the four closing entries required to close the books at the end of the quarter. Be sure to clearly number each entry and clearly identify debits and credits by using the following format (these sample entries are not related to closing entries and are simply here as a formatting example):

Entry #1 Dr. Cash

Cr. Accounts Receivable

Entry #2 Dr. Wages Expense

Cr. Wages Payable

2. Are the financial statements prepared before or after the closing entries? Use several sentences to explain your answer.

3. Why do companies close the books at the end of the reporting period?

Rensing Ltd. estimates sales for the second quarter of 2017 will be as follows.

The target ending inventory of finished products is as follows.

2 units of material are required for each unit of finished product. Production for July is estimated at 2,670 units to start building inventory for the fall sales period. Rensing’s policy is to have an inventory of raw materials at the end of each month equal to 50% of the following month’s production requirements.

Raw materials are expected to cost $6 per unit throughout the period.

Calculate the May raw materials purchases in dollars.

Real GDP has declined during the past quarter, and the forecast is for a continued decline in real GDP because of a gloomy business outlook. Business investment is expected to plummet next year. As chairman of the President's Council of Economic Advisers, what type of discretionary fiscal policy would you recommend for the coming year?

ABC Inc. has projected sales and production in units for the second quarter of the coming year as follows:

cash related production costs are budgeted at $5 per unit produced. Of these production costs, 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $100,000 per month. The accounts payable balance on March 31 totals $190,000, which will be paid in April.

All units are sold on account for $14 each. Cash collections from sales are budgeted at 60% in the month of sale, 30% in the month following the month of sale, and the remaining 10% in the second month following the month of sale. Accounts receivable on April 1 totaled $500,000 ($90,000 from Feb. sales and $41,000 from March's sales).

1. prepare a schedule for each month showing budgeted cash disbursements

2. prepare a schedule for each month showing budgeted cash receipts

provide answers in detail.

In the fourth quarter of last year, Colditz Company embarked on a major effort to improve productivity. It redesigned products, reengineered manufacturing processes, and offered productivity improvement courses. The effort was completed in the last quarter of the current year. The controller’s office has gathered the following year-end data to assess the results of this effort:

Required

1. Prepare a summary contribution income statement for each of the 2 years, and calculate the change in operating income.

2. Compute the partial operational productivity ratios for each production factor in each year.

3. Compute the partial financial productivity ratios for each production factor in each year.

The U.S. quarter has a mass of 5.67 g and is approximately 1.55 mm thick.

A) How many quarters would have to be stacked to reach 575 ft , the height of the Washington Monument?

B) How much would this stack weigh?

C) How much money would this stack contain?

D) The US National Debt Clock showed the outstanding public debt to be $11,687,233,914,811.11 on August 29, 2009. How many stacks like the one described would be necessary to pay off this debt?

In the last quarter of​ 2007, a group of 64 mutual funds had a mean return of 0.8​% with a standard deviation of 4.9​%. Consider the Normal model ​N(0.008​,0.049​) for the returns of these mutual funds.

​a) What value represents the 40th percentile of these​ returns?

​b) What value represents the 99th​ percentile?

​c) What's the​ IQR, or interquartile​ range, of the quarterly returns for this group of​ funds?

The quarterly demand for smartphones at a retailer is as show.

Forecast the quarterly demand for year 5 using the following models:

1. 4-week simple moving average.
2. Simple exponential smoothing with α = 0.1
3. Trend adjusted exponential smoothing with α = 0.1 and β = 0.1
4. Linear Regression with seasonality/