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Managerial Accounting Homework Help - For Scoring A High GPA in Academic
Managerial accounting, also known as management accounting, is a specialized branch of accounting that plays a key role in the business and finance landscape. It acts as a bridge between financial data and strategic decision-making, making it essential for students pursuing degrees in business and finance-related fields. The foundation of managerial accounting lies in comprehending various concepts, such as cost analysis, budgeting, and financial planning. While this subject can be challenging for students due to its complex concepts and analytical nature, it is necessary for those aspiring to excel in the business world. TutorBin is here to provide you with comprehensive managerial accounting homework help, led by our team of expert tutors.
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Managerial Accounting Homework Help
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Students pursuing degrees in business, finance, or related fields can benefit significantly from our tailored managerial accounting help. Our comprehensive assistance is designed to guide you through the complexities of managerial accounting, ensuring that you approach assignments with confidence. Whether you're diving into the fundamentals or tackling advanced topics, our expert tutors are here to enhance your understanding and clarify complex concepts. This provides you with the solid foundation needed to excel in your academic journey.
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Are you considering hiring online managerial accounting tutors? At TutorBin, we take immense pride in our team of expert managerial accounting tutors who are ready to assist you on your educational journey. Our tutors are not just professionals; they are true experts in the field, possessing a deep and thorough understanding of managerial accounting concepts. They also play a crucial role in simplifying complex financial data analysis, providing valuable insights, and guiding students through the learning process. With their ability to break down complex topics into manageable sections, our tutors ensure that you not only comprehend but also retain the material effectively.
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Do My Managerial Accounting Homework
Challenges Where Students Need Managerial Accounting Assignment HelpManagerial accounting assignments are challenging for students due to complex accounting principles and the need to understand financial ratios and their implications. Our managerial accounting homework help is designed to tackle these challenges, ensuring you never feel overwhelmed by your coursework. Let's delve into the specific challenges that students face while solving managerial accounting homework tasks:
1. Complex Concepts in Managerial Accounting
Managerial accounting assignments involve complex concepts and techniques such as cost allocation, variance analysis, and overhead allocation, which can initially be difficult for students to comprehend.
2. Daunting Mathematical Calculations
Managerial accounting assignments require extensive mathematical calculations, which can be daunting, particularly for students uncomfortable with math.
3. Challenging Data Analysis
Students must analyze and interpret financial data and reports in managerial accounting assignments, which can be particularly challenging when dealing with large datasets.
4. Confusing Budgeting Tasks
Creating budgets and analyzing budget variances can confuse students in managerial accounting assignments. Understanding how to allocate resources effectively can be a daunting task.
5. Time-Consuming Software Utilization
Many managerial accounting tasks involve using Excel or specialized accounting software. Learning to use these tools effectively can be time-consuming for students.
6. Bridging Theory to Real-World Application
Bridging the gap between theoretical knowledge and practical application in managerial accounting can be difficult. Students may struggle to understand how managerial accounting concepts relate to real-world business scenarios.
7. Limited Access to Resources
Access to relevant study materials, textbooks, and software can sometimes be limited, making it harder for students to practice and complete managerial accounting assignments.
Managerial Accounting Topics & Concepts Covered
| Topics | Concepts |
|---|---|
| Cost Classification | Variable, Fixed, Mixed Costs |
| CVP Analysis | Cost-Volume-Profit Relationships |
| Budgeting and Forecasting | Budget Creation and Projections |
| Activity-Based Costing | Resource Allocation Based on Activities |
| Cost Behavior Patterns | Step Costs, Curvilinear Costs |
| Relevant Costs and Decision Making | Identifying Relevant Costs for Decisions |
| Pricing Strategies | Determining Product Pricing Strategies |
| Cost Allocation Methods | Methods for Allocating Overhead Costs |
| Break-Even Analysis | Point of Revenue Equals Total Costs |
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Recently Asked Managerial Accounting Questions
Expert help when you need it- Q1:2. Read the article "Disclosure Prominence and the Quality of Non-GAAP Earnings". Create a structured abstract of the article, and explain the relevance of prominence of non-GAAP earnings disclosures for CFOs of companies considering issuing EPS guidance.See Answer
- Q2:Question 1: a) Why does the company debate whether they keep the Rockford plant or not? Explain b) Identify the advantages and disadvantages of closing the plant down from the stakeholders' perspective. c) In addition to cost, what would be the additional factors that you need to consider?See Answer
- Q3:Q2 a) Identify and list the relevant and irrelevant costs. b) Identify and list the recurring and non-recurring benefits and costs.See Answer
- Q4:Q4 Articulate the problem and propose the possible solutions by both considering the result of your financial (dis)advantage analysis and the additional factors. (explain it clearly and comprehensively and propose at least 3 possible solutions to receive credit).See Answer
- Q5:Question 5: What is your final decision on the plant? (Explain it clearly and comprehensively to receive credit).See Answer
- Q6:To do: Perform a detailed discussion on the importance of accounting for ASDA STORES LIMITED (UK) and what is the main process of accounting. Assessment 1 Sample of Essay on a selected Company This essay is based on Burberry Plc, my selected Company from the Retail Sector. The following areas will be covered in the essay. 1. Brief introduction of Burberry Plc 2. An explanation of the accounting principles at Burberry Plc and the importance of accounting at Burberry's 3. An explanation of the main process of accounting at Burberry 4. Harvard referencing will be used in the essay where necessary. See Answer
- Q7:P17-31. Special Order Razor USA produces a variety of electric scooters. Assume that Razor has just received an order from a customer (Pulse Cycles) for 500 Power Core scooters. The following price, based on cost plus a 60% markup, has been developed for the order: See Answer
- Q8:E17-24. Sell or Process Further Ecolab produces cleaning and sanitizing chemicals for commercial markets. Assume the processes raw material D into joint products E and F. Raw material D costs $8 per liter. It costs $15) to convert 100 liters of D into 60 liters of E and 40 liters of F. Product F can be sold immediately for $40 per liter or processed further into Product G at an additional cost of $12 per liter. Product G can then be sold for $55 per liter. Determine whether Product F should be sold or processed further into Product G. P E17-25. Limited ResourSee Answer
- Q9:P17-31. Special Order Razor USA produces a variety of electric scooters. Assume that Razor has just received an order from a customer (Pulse Cycles) for 500 Power Core scooters. The following price, based on cost plus a 60% markup, has been developed for the order: See Answer
- Q10:E17-24. Sell or Process Further Ecolab produces cleaning and sanitizing chemicals for commercial markets. Assume the processes raw material D into joint products E and F. Raw material D costs $8 per liter. It costs $15) to convert 100 liters of D into 60 liters of E and 40 liters of F. Product F can be sold immediately for $40 per liter or processed further into Product G at an additional cost of $12 per liter. Product G can then be sold for $55 per liter. Determine whether Product F should be sold or processed further into Product G. P E17-25. Limited ResourSee Answer
- Q11:Required a. Develop a monthly plan that indicates the number of customers Maria should call on in each clas- sification to maximize her monthly sales commissions. b. Determine the monthly commissions Maria will earn if she implements this plan. c. Give one or two reasons why Maria might decide not to follow the conclusions of the above analysis entirely See Answer
- Q12:Required a. Determine the unit cost for each job using a traditional plantwide overhead rate based on machine hours. b. Determine the unit cost for each job using ABC. (Round answers to two decimal places.) c. As the manager of Ridgeland, is there additional information that you would want to help you evalu- ate the pricing and profitability of Jobs 201 and 202? d. Assuming the company has been using the method required in part a, how should management react to the findings in part b?See Answer
- Q13:Required Determine the effect each of the following situations would have on monthly profits. Each situation should be evaluated independently of all others. a. Product A is discontinued. b. Product A is discontinued, and the subsequent loss of customers causes sales of Product B to decline by 150 units. c. The selling price of A is increased to $25 with a sales decrease of 250 units. d. The price of Product B is increased to $20 with a resulting sales decrease of 300 units. However, some of these customers shift to Product A; sales of Product A increase by 200 units. e. Product A is discontinued, and the plant in which A was produced is used to produce D, a new prod- uct. Product D has a unit contribution margin of $2. Monthly sales of Product D are predicted to be 1,500 units. f. The selling price of Product C is increased to $35, and the selling price of Product B is decreased to $10. Sales of C decline by 350 units, while sales of B increase by 400 units.See Answer
- Q14:Required: 1. Using the above performance measures, construct a balanced scorecard strategy map for the Powder 8 Lodge. Use the chart attached as a guide. Use arrows to show causal links and indicate with a + or - whether the performance measure should increase or decrease.See Answer
- Q15:2. What hypotheses are built into the balanced scorecard for the Powder 8 Lodge? Which of these hypotheses do you believe are most questionable? Why?See Answer
- Q16:3. How will management know if one of the hypotheses underlying the balanced scorecard is false?See Answer
- Q17:Required: 1. Prepare journal entries to record the above transactions. 2. Set up T-accounts for Materials inventory, Work in process, Finished goods, Overhead control and Cost of goods sold. Post all entries necessary to these accounts. 3. Determine the Cost of Goods Manufactured. 4. Indicate whether overhead is over or under applied during the period, and by how much. What do we do to deal with, or dispose of, this amount? 5. Prepare the Statements of Cost of Goods Manufactured and Cost of Goods Sold for the period. (Note: When preparing the Cost of Goods Manufacturing Statement, use ONE amount for overhead - you need NOT list all of the individual overhead items.) 6. Show the Inventory section of the Balance Sheet for Montclair as of the end of January. 7. What factors could have caused overhead to be overapplied or underapplied for the period? (Hint: there are really ONLY 2)See Answer
- Q18:CASE 11-23 Balanced Scorecard LO11-4 Haglund Department Store is located in the downtown area of a small city. While the store had been profitable for many years, it is facing increasing competition from large national chains that have set up stores on the outskirts of the city. Recently the downtown area has been undergoing revitalization, and the owners of Haglund Department Store are somewhat optimistic that profit- ability can be restored. In an attempt to accelerate the return to profitability, management of Haglund Department Store is in the process of designing a balanced scorecard for the company. Management believes the company should focus on two key problems. First, customers are taking longer and longer to pay the bills they incur using the department store's charge card, and the company has far more bad debts than are normal for the industry. If this problem were solved, the company would have more cash to make much needed renovations. Investigation has revealed that much of the problem with late payments and unpaid bills results from customers disputing incorrect charges on their bills. These incorrect charges usually occur because salesclerks incorrectly enter data on the charge account slip. Second, the company has been incurring large losses on unsold seasonal apparel. Such items are ordinarily resold at a loss to discount stores that specialize in such distress items. The meeting in which the balanced scorecard approach was discussed was disorganized and ineffectively led-possibly because no one other than one of the vice presidents had read anything about how to build a balanced scorecard. Nevertheless, a number of potential performance mea- sures were suggested by various managers. These potential performance measures are: a. Percentage of charge account bills containing errors. b. Percentage of salesclerks trained to correctly enter data on charge account slips. Average age of accounts receivables. C. d. Profit per employee. e. Customer satisfaction with accuracy of charge account bills from monthly customer survey. f. Total sales revenue. g. Sales per employee. h. Travel expenses for buyers for trips to fashion shows. i. Unsold inventory at the end of the season as a percentage of total cost of sales. j. Courtesy shown by junior staff members to senior staff members based on surveys of senior staff./nn. Quality of food in the staff cafeteria based on staff surveys. o. Percentage of employees who have attended the city's cultural diversity workshop. p. Total profit. Required: 1. As someone with more knowledge of the balanced scorecard than almost anyone else in the company, you have been asked to build an integrated balanced scorecard. In your scorecard, use only performance measures listed previously. You do not have to use all of the perfor- mance measures suggested by the managers, but you should build a balanced scorecard that reveals a strategy for dealing with the problems with accounts receivable and with unsold merchandise. Construct the balanced scorecard following the format used in Exhibit 11-5. Do not be concerned with whether a specific performance measure falls within the learning and growth, internal business process, customer, or financial perspective. However, use arrows to show the causal links between performance measures within your balanced scorecard and explain whether the performance measures should show increases or decreases.See Answer
- Q19:2. Assume the company adopts your balanced scorecard. After operating for a year, some perfor- mance measures show improvements, but not others. What should management do next?See Answer
- Q20:3. Suppose customers express greater satisfaction with the accuracy of their charge account bills but the performance measures for the average age of accounts receivable and for bad debts do not improve. Explain why this might happen. b. Suppose the performance measures for the average age of accounts receivable, bad debts, and unsold inventory improve, but total profits do not. Explain why this might happen. Assume in your answer that the explanation lies within the company. a.See Answer
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