The Barberton Municipal Division of Road Maintenance is charged with road repair in the city of Barberton and the surrounding area. Cindy Kramer, road maintenance director, must submit a staffing plan for the next year based on a set schedule for repairs and on the city budget. Kramer estimates that the labor hours required for the next four quarters are 6,000, 12,000, 19,000, and 9,000, respectively. Each of the 11 workers on the workforce can contribute 500 hours per quarter. Payroll costs are $6,000 in wages per worker for regular time worked up to 500 hours, with an overtime pay rate of $18 for each overtime hour. Overtime is limited to 20 percent of the regular-time capacity in any quarter. Although unused overtime capacity has no cost, unused regular time is paid at $12 per hour. The cost of hiring a worker is $3,000, and the cost of laying off a worker is $2,000. Subcontracting is not permitted. Find a level staffing plan that relies just on overtime and the minimum amount of undertime possible. Overtime can be used to its limits in any quarter. What is the total cost of the plan and how many undertime hours does it call for? Use a chase strategy that varies the workforce level without using overtime or undertime. What is the total cost of this plan? Propose a plan of your own. Compare your plan with those in part (a) and part (b) and discuss its comparative merits.

Bob​ Carlton's golf camp estimates the following workforce requirements for its services over the next two​ years: Quarter 1 2 3 4 5 6 7 8 Demand​ (hrs) 4,200 6,400 3,100 5,000 4,400 6,240 3,800 5,000

Each certified instructor puts in 480 hours per quarter regular time and can work an additional 120 hours overtime.​ Regular-time wages and benefits cost Carlton $7,200 per employee per quarter for regular time worked up to 480 hours, with an overtime cost of $20 per hour.

Unused regular time for certified instructors is paid at $15 per hour

. There is no cost for unused overtime capacity. The cost of​ hiring, training, and certifying a new employee is $10,000. Layoff costs are $4,000 per employee.

Currently 8 employees work in this capacity.

(a) Find a workforce plan using the level strategy that allows for no delay in service. It should rely only on overtime and the minimum amount of undertime necessary. What is the total cost of the​ plan? 701000

(b) Use a chase strategy that varies the workforce level with minimal undertime and without using overtime. What is the total cost of this plan? 809600

(c) Propose a low-cost, mixed strategy and calculate its total cost. (Any strategy that improves on both the chase and level strategies is acceptable; no need to find the optimal schedule.)

Silver Company makes a product that is very popular as a Mother’s Day gift. Thus, peak sales occur in May of each year, as shown in the company’s sales budget for the second quarter given below:

From past experience, the company has learned that 20% of a month’s sales are collected in the month of sale, another 75% are collected in the month following sale, and the remaining 5% are collected in the second month following sale. Bad debts are negligible and can be ignored. February sales totaled $270,000, and March sales totaled $300,000.

Required:

1. Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.

2. What is the accounts receivable balance on June 30th?

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2

What is the accounts receivable balance on June 30th?

Complete this question by entering your answers in the tabs below.

• Required 1
• Required 2

Prepare a schedule of expected cash collections from sales, by month and in total, for the second quarter.

Your new baby was born yesterday. To save for her education, you decide to invest in a 529 plan and will make QUARTERLY contributions until your child enters the great UNLV when she turns 18. That is, you will save for the next 17 years (Or should it be 18 years? Think about it), and the contribution will be made at the END of each quarter. You expect that the 529 plan will return 8.5% per year with quarterly compounding. The current in-state cost (tuition and other expenses, if living with parents) for UNLV is about $18,086 per year, and you expect your child to spend 4 years in college. You expect this cost to go up 4% per year until your child finishes college.

1. How much will you need to save per quarter so that your child will have enough funding for college? (Assume: Tuition payments are made ONCE per year at the BEGINNING of the year. Your 529 plan remains invested until your child finishes college.)

2. Construct a one-way data table to perform a what-if analysis by varying the annual investment return between 5% to 12%, with one-percentage-point increment. That is, how much you need to save each quarter to reach your goal if the investment return varies between 5% and 12%.

James is a charted accountant at Golden Electronics Bhd. The company operates the business in Klang and involves in manufacturing of electronic appliances. The company currently has recorded total sales of RM25 million. It is the end of the first quarter 2020. James is hurriedly attempting to prepare a financial statement so that quarterly interim financial reports can be prepared and released to the board of directors and the regulatory agencies. While finalizing the accounts, he found that the total credits on the trial balance exceeded the debits by RM3,700. In order to meet the deadline, James decides to force the debits and credits into balance by adding the amount of the discrepancies to the Equipment account. He chose Equipment because it is one of the larger account balances; percentage-wise, it will be least misstated. James “plugs” the discrepancies! He believes that the discrepancies will not affect anyone’s decision. He wishes that he had another few day to find the error but realizes that the financial statements are already late.

1. Identify three stakeholders in this situation? Explain the importance of these stakeholders in the above situation.
2. Critically discuss the ethical issues involved in this case?
3. What are Scott’s alternatives? Explain all the three alternatives.

Part 1: Describe the purpose of a Trial Balance and the steps of how to prepare a Trial Balance.

Part 2: Meredith Ward is the assistant chief accountant at Frazier Company, a manufacturer of computer chips and cellular phones. The company presently has total sales of $20 million. It is the end of the first quarter. Meredith is hurriedly trying to prepare a trial balance so that quarterly financial statements can be prepared and released to management and the regulatory agencies. The total credits on the trial balance exceed the debits by $1,000. In order to meet the 4 p.m. deadline, Meredith decides to force the debits and credits into balance by adding the amount of the difference to the Equipment account. She chooses Equipment because it is one of the larger account balances; percentage-wise, it will be the least misstated. Meredith “plugs” the difference! She believes that the difference will not affect anyone's decisions. She wishes that she had another few days to find the error but realizes that the financial statements are already late.

Answer the following questions:

Who are the stakeholders in this situation?

What are the ethical issues involved in this case?

What are Meridith's alternatives?

The management estimates total sales for the period January through June based on
actual sales from the immediate past six months. The following assumptions are made:
1. The Sales were $150,000 in January 2018 and then the sales grew by 10% each
month for the first five months (February to June). The sales are expected to grow
by 5% each month thereafter.
2. 50% of the Sales are collected in the same month. 45% of the sales are collected
in the following month and remainder are not collected.
3. The Purchases are 20% of sales and paid in the same month.
4. Wages and Salaries are $10,000 each month and paid in the same month.
5. Depreciation expense is $5,000 each month.
6. An equipment worth $100,000 will be purchased with cash in October.
7. The company’s debt is $50,000 and the company pays coupon payments in June
and December of each year. The coupon rate is 10% per year.
8. Rent Expenses will be $5000 and will be paid at the end of each calendar quarter.
Determine the cash surplus and shortages for each month from July to December.
Provide your analysis.

Schedule of Cash Payments for a Service Company

EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $25,000. The budgeted expenses for the next three months are as follows:

Other operating expenses include $3,200 of monthly depreciation expense and $700 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 70% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December.

Prepare a schedule of cash payments for operations for January, February, and March. Enter all amounts as positive numbers.

Schedule of Cash Payments

EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $27,100. The budgeted expenses for the next three months are as follows:

Other operating expenses include $3,400 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 65% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December.

Prepare a schedule of cash payments for operations for January, February, and March.

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  Schedule of Cash Payments

  EastGate Physical Therapy Inc. is planning its cash payments for operations for the first quarter (January–March). The Accrued Expenses Payable balance on January 1 is $26,700. The budgeted expenses for the next three months are as follows:

  	January		February		March
  Salaries	$61,400		$74,800		$82,800
  Utilities	5,100		5,600		6,700
  Other operating expenses	46,700		50,900		56,000
  Total	$113,200		$131,300		$145,500

  Other operating expenses include $3,400 of monthly depreciation expense and $800 of monthly insurance expense that was prepaid for the year on May 1 of the previous year. Of the remaining expenses, 65% are paid in the month in which they are incurred, with the remainder paid in the following month. The Accrued Expenses Payable balance on January 1 relates to the expenses incurred in December.

  Prepare a schedule of cash payments for operations for January, February, and March.

  EastGate Physical Therapy Inc.
  Schedule of Cash Payments for Operations
  For the Three Months Ending March 30
  	January	February	March
  Payments of prior month's expense	$	$	$
  Payments of current month's expense
  Total payments	$	$	$