read: Principles of Accounting, Chapter 22: Tools for Enterprise Performance Evaluation:http://www.principlesofaccounting.com/chapter-22/Part1Opening attacted file university inn to answer this part.P

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read:

Principles of Accounting, Chapter 22: Tools for Enterprise Performance Evaluation:

Part1

Opening attacted file university inn to answer this part.

Part 2

Open attached file Michael’s to answer this part.

Part 3

For this week’s reflection, please write three complete and well-composed paragraphs (in your own words) in which you use, as an example, a manufacturing company that operates in Grenada west Indies. Write about what you believe the elements of unit costs would be for that business.For example, there is a very small company in my town the manufactures t-shirts for businesses with company logos on them or other designs for special events. Some of the elements that would be included in unit costing would be the cost of the t-shirts purchased before printing and the cost of the dyes used for the printing.

read: Principles of Accounting, Chapter 22: Tools for Enterprise Performance Evaluation:http://www.principlesofaccounting.com/chapter-22/Part1Opening attacted file university inn to answer this part.P
University Inn’s most recent monthly expense analysis report revealed significant cost overruns. The manager was asked to explain the deviations. Below is the “budget v. actual” expense report for the month in question. University InnBudget v. Actual Expense ReportFor the Month Ending October 31, 2007 Actual (at 96% capacity) Budget (established at 80% capacity) Variance Utilities $ 52,000 $ 45,000 $ (7,000) Laundry 20,000 18,000 (2,000) Food service 41,000 35,000 (6,000) Rent/taxes 60,000 60,000 Staff wages 57,000 55,000 (2,000) Management salaries 43,500 45,000 1,500 Water 13,000 10,000 (3,000) Maintenance 15,200 15,000 (200) $ 301,700 $ 283,000 $ (18,700) The Inn has observed that utilities, water, food service, staff wages, and laundry costs all vary with activity. The other costs are fixed. The budget reflected above was based upon an assumed 80% occupancy rate. The university’s football team was on a winning streak and numerous alumni were returning to campus in October, resulting in a 96% occupancy rate during the month.Prepare a “flexible budget” based upon a 96% occupancy rate, and identify whether the Inn is being efficiently or inefficiently run. Comment on specific costs, and note why a flexible budget can improve performance evaluations.An example of the first line of the budget is provided below: Actual Budget Variance Utilities $52,000 $54,000 $2,000 under budget Actual is already at 96% capacity The budget was 45,000 assuming 80% capacity. To convert to 96% capacity: 54,000 divide by 0.8 = 56,2560 (representing 100% capacity) X > 0.96 = 54,000
read: Principles of Accounting, Chapter 22: Tools for Enterprise Performance Evaluation:http://www.principlesofaccounting.com/chapter-22/Part1Opening attacted file university inn to answer this part.P
Michaels, Inc., purchased a machine for $75,000. The machine has a useful life of five years and no salvage value. Straight-line depreciation is to be used. The machine is expected to generate cash flow from operations, net of income taxes, of $25,000 in each of the five years. Michaels’ expected rate of return is 10%. Information on present value factors is as follows: Period Present Value of $1 at 10% Present value of ordinary annuity of $1 at 10% 0.90909 0.90909 0.82645 1.73554 0.75132 2.48685 0.68301 3.16986 0.62092 3.79079 What would be the net present value?

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