Good afternoon...please see attachment below for assignment. If I could get assistance I would greatly appreciate it. Also, is it possible to have the sources included on a reference page? I have attached the reading assignment but if you find more sources I would appreciate it, they are sticklers for sources. I also attached the charter budget excel spreadsheet. Please let me know if you need anything further from me and thank you in advance.

3/20/2017 Background ACC403 Principles of Accounting (FEB2017FT1) Table of Contents Module 4: Managerial Accounting - Budgeting Background https://tlc.trident.edu/d2l/le/content/84065/viewContent/2046240/View Background 1/3 3/20/2017 Background ACC403 Principles of Accounting (FEB2017FT1) Listen Module 4 Background MANAGERIAL ACCOUNTING BUDGETING Financial budgets should not only provide a plan for the income statement but should also include the balance sheet. This enables the organization to consider potential cashflow needs for your entire operation, not just as they pertain to income and expenses. There are three major types of budgets: (1) operating budget, (2) financial budget, and (3) capital budget. They are all important however, the emphasis is on the operating budget in this course. An operating budget serves multiple purposes. It forces managers and supervisors to plan It provides information that can be used as a tool for improve decision making It provides information that can be used for control and performance evaluations It improves the functions of communication and coordination Required Materials Coombs, H., Hobbs, D., & Jenkins, D. (2005). Management Accounting: Principles and Applications, SAGE Publications (read chapter 4), from EBSCO. Hermanson, R.H., Edwards, J.D., & Invacevich, S.D. (2011). Accounting Principles: A Business Perspective. First Global Text Edition, Volume 2 Managerial Accounting, 108113, 128134, 165169 and 181183. http://textbookequity.com/oct/Textbooks/TBQ_PA_Accounting_managerial.pdf Walther, L.M. (2011). Principles of Accounting: A Complete Online Text, chapters 21 and 22 (the section titled Traditional variance calculations for monitor cost and efficiency). Retrieved from http://www.principlesofaccounting.com/ Reflect in ePortfolio Download https://tlc.trident.edu/d2l/le/content/84065/viewContent/2046240/View Print Open with docReader 2/3 3/20/2017 Background ACC403 Principles of Accounting (FEB2017FT1) Activity Details Task: View this topic https://tlc.trident.edu/d2l/le/content/84065/viewContent/2046240/View 3/3 Sample Budget for A Charter School School Year 2XXX-2XXX Number of Students Revenue General Revenue (@ $ 3,546 per student) Compensatory revenue (@ $ 1,775 per student) Transportation Revenue (@ $ 170 per student) TRA Reduction (@ $ (-) 42.44 per student) Food Reimbursement (@ $ 246.50 per student) Federal Title I Funds (@ $ 368 per student) Grants Federal Charter School S96 Technology Enhancement St Paul Foundation Bigelow Foundation Total Revenue Revenue Per Student Expenses Advertising Computer Equip Staff Development (@ $ 100 per student) Field Trips (@ $ 40 per student) Instructional Material & Equipment (@ $ 150 per student) Instructional Supplies (@ $ 60 per student) Dues and Subscriptions Office/General Supplies Payroll & Salaries Benefits Professional Fees (Accounting & Legal) Principal/Business Mgr Contract Contract Services Printing and Copying (@ $ 98 per student) Internet Access Building Lease Utilities - Water, Electric etc Cleaning Services Maintenance & Repairs Telephone Insurance (Property & Liability) Grass Removal Transportation Food Service (@ $ 246.50 per student) Technology Enhancement Page 1 of 3 120 100 66 425,520 213,000 20,400 -5,093 29,580 44,160 354,600 177,500 17,000 -4,244 24,650 36,800 234,036 117,150 11,220 -2,801 16,269 24,288 50,000 10,000 5,000 10,000 50,000 10,000 5,000 10,000 50,000 10,000 5,000 10,000 802,567 681,306 475,162 6,688 6,813 7,199 3,000 25,000 12,000 4,800 18,000 7,200 1,000 4,000 200,600 35,566 3,000 15,000 2,000 11,760 1,000 102,471 21,000 6,000 2,000 5,180 4,000 4,000 17,000 29,580 7,000 3,000 25,000 10,000 4,000 15,000 6,000 1,000 4,000 200,600 35,566 3,000 15,000 2,000 9,800 1,000 102,471 21,000 6,000 2,000 5,180 4,000 4,000 17,000 24,650 7,000 3,000 25,000 6,600 2,640 9,900 3,960 1,000 4,000 200,600 35,566 3,000 15,000 2,000 6,468 1,000 102,471 21,000 6,000 2,000 5,180 4,000 4,000 17,000 16,269 7,000 Sample Budget for A Charter School School Year 2XXX-2XXX Total Expenses 542,157 528,267 504,654 4,518 5,283 7,646 Revenue Less Expenses 260,410 153,039 -29,492 Schedule A:- Startup Costs Capital Equipment and Improvements Office & Classroom Furniture Playground Equipment and Facilities Total Startup Costs 120,000 24,000 10,000 154,000 100,000 20,000 10,000 130,000 66,000 13,200 10,000 89,200 Total Expenses Per Student Schedule B:- Operating Assumptions Number of Students, Reg-K Number of Students, 1-6 Total Students Number of School Days Number of Teachers Number of Special Ed Teachers Number of LEP Teachers Number of Health Service Workers Number of Paraprofessionals Number of Secretaries Number of Custodians Number of Clerks Per Student Instructional Material Per Student Instructional Supplies Per Student General Revenue Per Student Compensatory revenue Percentage of Students on AFDC Per Student Transport Revenue Per Student Transportation Reduction Per Student Food Reimbursement Per Student Federal Title I Funds 25 20 23 95 80 43 120 100 66 170 170 170 3.60 3.00 3.00 0.50 0.50 0.50 0.50 0.50 0.50 0.20 0.20 0.20 4.80 3.30 3.30 1.00 1.00 1.00 0 0 0 0 0 0 $150.00 $150.00 $150.00 $60.00 $60.00 $60.00 $3,546.00 $3,546.00 $3,546.00 $1,775.00 $1,775.00 $1,775.00 26.47 26.47 26.47 $170.00 $170.00 $170.00 -$42.44 -$42.44 -$42.44 $246.50 $246.50 $246.50 $368.00 $368.00 $368.00 Schedule C:- Salaries Teachers Paraprofessionals Secretary Health Service Workers Contract Competancy- Based Salarary Increases Total Salaries 88,000 52,800 24,000 4,800 16,000 15,000 200,600 Page 2 of 3 88,000 52,800 24,000 4,800 16,000 15,000 200,600 88,000 52,800 24,000 4,800 16,000 15,000 200,600 Sample Budget for A Charter School School Year 2XXX-2XXX Schedule D:- Benefits FICA (7.65%) Retirement (8.14%) Life & Disability (0.9%) Health & Other Insurance (0.7%) Workman Compensation (.34%) Total Benefits (17.73%) 15,346 16,329 1,805 1,404 682 35,566 ***It is a modified verison of a sample charter school budget available on National Charter School Resource Center website (http://www.charterschoolcenter.org/)*** Page 3 of 3 15,346 16,329 1,805 1,404 682 35,566 15,346 16,329 1,805 1,404 682 35,566 3/16/2017 SLP ACC403 Principles of Accounting (FEB2017FT1) Table of Contents Module 3: Managerial Accounting - Variable Costing SLP SLP Listen Module 3 SLP MANAGERIAL ACCOUNTING VARIABLE COSTING We're using a different fictitious company for the last two modules, the managerial accounting portion of this course. Below find production and sales information for Lewis Company. Product information Beginning inventory Units produced Units sold Selling price per unit Variable costs per unit Direct material Prod B 0 10,000 9,000 $300 120 Direct labor 60 Variable overhead 40 Variable selling and administrative 10 Fixed costs Fixed manufacturing overhead 250,000 Fixed selling and administrative 100,000 https://tlc.trident.edu/d2l/le/content/84065/viewContent/2046235/View 1/3 3/16/2017 SLP ACC403 Principles of Accounting (FEB2017FT1) Fixed selling and administrative 100,000 Lewis Company Absorption Income Statement For the period ending Dec. 31, 2015 Sales $2,700,000 Cost of goods sold 2,205,000 Gross profit (margin) $495,000 Selling and administrative expenses 190,000 Net income $305,000 Prepare a contribution margin (behavioral, variable) income statement for Lewis Company, compare net operating profit from a contribution margin income statement with net income from an absorption income statement, and explain why this difference happens. Prepare a second version assuming the selling price per unit increases to $320 per unit. Further, answer break even questions below. Use the original information to: Determine the number of units the company must sell to break even for the year? Compute break even assuming direct materials cost increase from $120 to $150, but all information remains the same. SLP Assignment Expectations It is important to answer the questions as posed. The document should be two to four pages and written in a clear and concise manner or present tables as required. Support your discussion or tables with references in APA format. You are encouraged to use Excel or other compatible spreadsheet when computations are involved. You can turn in the spreadsheet instead. The Reflect in ePortfolio Download Print Open with docReader Activity Details You have viewed this topic https://tlc.trident.edu/d2l/le/content/84065/viewContent/2046235/View 2/3 3/16/2017 SLP ACC403 Principles of Accounting (FEB2017FT1) Last Visited Mar 16, 2017 4:03 PM https://tlc.trident.edu/d2l/le/content/84065/viewContent/2046235/View 3/3