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Project Control: The budget S-curve for a small project is shown: (a) Calculate and draw the S-curve of expenses against the expected owner payments; (b) Estimate the amount of interest chargeable on borrowed money and the overdraft limit needed. Markup is 10%; Owner retention is 5% (payable with last payment); Owner payment delay is 1 month; Interest rate is 12% per annum.

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Effectiveness/efficiency; ethics; writingTop management of Capital Services observed that the budget for the EDP department had been growing far beyond what was anticipated for the past several years. Each year, the EDP manager would demonstrate that increased usage by the company’s non-EDP departments would justify a larger appropriation. The administrative vice president commented that she was not surprised because user departments were not charged for the EDP department services, and EDP department personnel were creative and eager to continue expanding services. A review of the current year's statistics of the EDP department revealed the following: Budgetary appropriation$1,600,000 based on 3,200 hours of run time.$1,280,000 of this appropriation is related to fixed costs.Actual department expensesVariable: $296,400 (incurred for 3,120 hours of run time).Fixed: $1,304,000. a. Did the EDP manager stay within his appropriation? Appropriation Answer Actual cost Answer…

Effectiveness/efficiency; ethics; writingTop management of Capital Services observed that the budget for the EDP department had been growing far beyond what was anticipated for the past several years. Each year, the EDP manager would demonstrate that increased usage by the company’s non-EDP departments would justify a larger appropriation. The administrative vice president commented that she was not surprised because user departments were not charged for the EDP department services, and EDP department personnel were creative and eager to continue expanding services. A review of the current year's statistics of the EDP department revealed the following: Budgetary appropriation$1,600,000 based on 3,200 hours of run time.$1,280,000 of this appropriation is related to fixed costs.Actual department expensesVariable: $296,400 (incurred for 3,120 hours of run time).Fixed: $1,304,000. a. Did the EDP manager stay within his appropriation? Appropriation $ Actual cost   Under(Above)…

Dynamic - Problem and answer changes with each attempt (consider an Excel solution) Farm Supply is located in a small town on the coast of California. Data regarding the store's operations follow: • Sales are budgeted at 320,257 for November, $ 326,682 for December, and $ 245,456 for January. • Collections are expected to be 70% in the month of sale and 30% in the month following the sale. • The cost of goods sold is 75% of sales. • The company desires to have an ending merchandise inventory at the end of each month equal to 80% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. • Other monthly expenses to be paid in cash are $22,400. • Monthly depreciation is $27,500. Ignore taxes. Assets Cash Balance Sheet October 31 Accounts receivable Merchandise inventory Property, plant and equipment, net of $624,000 accumulated depreciation Total assets Liabilities and Stockholders' Equity Accounts payable Common stock Retained earnings $…

Chapter : Budgeting South Hampton University is preparing its budget for the upcoming academic year. This is a specialised private university that charges fees for all degree courses. Currently, 30,000 students are enrolled on campus. However, the university is forecasting a 5 per cent growth in student numbers in the coming year, despite an increase in fees to $3,000 per subject. The following additional information has been gathered from an examination of university records and conversations with university managers: South Hampton is planning to award scholarships to 200 students, which will cover their fees.  The average class has 80 students, and the typical student takes 4 subjects per semester. South Hampton operates 2 semesters per year.  The average academic staff salary is $120,000 per annum including on-costs. South Hampton’s academic staff are evaluated on the basis of teaching, research, administration and professional/community service. Each of the academic staff teaches…

Capital Budgeting. Return on Investment, Residual Income Simmons Company is a merchandiser with multiple store locations. One of its store managers is considering a shift in her store’s product mix in anticipation of a strengthening economy. Her store would invest $800,000 in more expensive merchandise (an increase in its working capital) with the expectation that it would increase annual sales and variable expenses by $400,000 and $250,000, respectively for three years. At the end of the three-year period, the store manager believes that the economic surge will subside; therefore, she will release the additional investment in working capital. The store manager’s pay raises are largely determined by her store’s return on investment (ROI), which has exceeded 22% each of the last three years. Required: 1. Assuming the company’s discount rate is 16%, calculate the net present value of the store manager’s investment opportunity. 2. Calculate the annual margin, turnover, and return on…

1. Identify the specific type of budget • Long-range Annual Achievement that would best address each of the following questions a full-service hotel manager would like to answer. (a) (b) (c) (d) (e) (h) (i) (j) Question How much will we spend for front desk agents next Tuesday night? What will be our labor costs in the third quarter of next year? What will be my rooms renovation costs in four years when all guest room furniture must be replaced? What is our best estimate of next year's rooms revenue? How much sales tax will we collect next week? What will be the amount of our guest room supplies purchases next year? How many guest rooms will we sell next year? How many guest rooms will we sell next week? What will be the cost of replacing the hotel's HVAC (heating/ventilation and air conditioning) system five years from now? What is our best estimate of next year's food and beverage revenue? Type of Budget

Do problem 3, a through c

Cornwall Mobile Detailing (CMD) is a service that washes and details a customer's vehicle at their home or office. It operates on a membership basis. Members pay $1,400 dues per month, which entitle them to a complete wash and detail service monthly. Members may also order additional car washes during the month at a fee of $135. Additional washes are common in both summer and winter months. The number of members also varies with the season. The number of members and the average number of additional washes by members for the months of interest follow: January February March April May June Members 480 540 Service costs 1,100 1,240 1,270 1,420 Cornwall allows members to pay for dues on credit. Cornwall's experience is that 40 percent of its members pay cash for the dues, 50 percent of the members pay the dues for a month in the next month, 5 percent in the second month after. The remainder is uncollectible. Additional washes are payable in cash. Additional Washes (Average per Member) 2.0…

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image)   Casey Nelson is a divisional manager for Pigeon Company. His annual pay raises are largely determined by his division’s return on investment (ROI), which has been above 24% each of the last three years. Casey is considering a capital budgeting project that would require a $4,300,000 investment in equipment with a useful life of five years and no salvage value. Pigeon Company’s discount rate is 20%. The project would provide net operating income each year for five years as follows:   Sales   $ 4,200,000 Variable expenses   1,920,000 Contribution margin   2,280,000 Fixed expenses:     Advertising, salaries, and other fixed out-of-pocket costs $ 780,000   Depreciation 860,000   Total fixed expenses   1,640,000 Net operating income   $ 640,000   Click here to…

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Budgeting Production, Direct Materials and Income Statement Lane Products manufactures a popular kitchen utensil. The company recently expanded, and the controller believes that it will need to borrow cash to continue operations. It opened negotiations with the local bank for a one-month loan of $42,000 starting March 1. The bank would charge interest at the rate of 0.5 percent per month and require the company to repay interest and principal on March 31. In considering the loan, the bank requested a projected income statement and cash budget for March. The following information is available: • The company budgeted sales at 13,000 units per month in February, April, and May and at 10,000 units in March. The selling price is $61 per unit. • The company offers a 2 percent discount for cash sales. The company's experience is that bad debts average 1 percent of credit sales. • The inventory of finished goods on February 1 was 2,500 units. The desired finished goods inventory at the end of…