managerial accounting,,,ASSIST

1.

Please Help! Managerial Accounting 201B Case Study with Excel Sheets:

A. Classify accounts in the trial balance by placing an X in the appropriate column(s)

B. Using the income statement accounts in the trial balance PROVIDE A nulti-step income statement in good form

C. Using the balance sheet accounts in the trial balance provide a classified balance sheet in good form

D. Complete the worksheet by identifying the cost as variable or fixed, placing an X in the appropriate column(s) to identify its characteristics

E. Determine if the cost is variable, fixed, or mixed, and identify for each area (where applicable) the variable cost per unit and total fixed cost and explain why you have identified it as having one of the three behaviors

Requirement A HoverCraft, Inc Trial Balance at December 31 Account Classification & Behavior Account 2017 2016 Inc Stmt Bal Sheet Revenue Expense Fixed Variable Opportunity Example - R & D 412,000 $ 527,000 Long-term debt 35.344 12,614 Non-current capital 632 273 eases Sales Parts 2, 100,000 1,945,000 Other current liabilities 4,830 .4.574 Land 18 770 14,332 Travel Expenses 625000 285000 Cost of Goods Sold 67,500,000 61,900,000 Rent Expense 800,000 650,000 |Marketable securities 1,133 1,744 Advertising Expenses 550,000 1,000,000 Other long-term liabilities 4,472 3,230 Sales - Misc 065,000 3,021,000 Insurance Expense 60,000 70,000 Other current assets 4,487 3,005 Underapplied Mfg Ovhd 2,500,000 1,100,000 Deferred charges 1,896 Inventories. 3,956 3,728 Interest Expense 2 120,640 756,840 Salaries & Wages 11,775,000 5,908,000 Sales Discounts 2,225,000 3,660,000 Forgone Opportunities (1) 157,000 145,000 Deposits & other assets Interest Income 23,000 .32 000 Income Tax Expense 25,000 550.000 6,693 6389 Common stock 3,976 2,977 Accrued expense 4,757 2,957 Corp Aircraft Expense 150,000 55,000 Accounts payable 4,910 3,802 Sales - Vehicles 94,085,000 86,020,000 Current long-term d debt 2,128 11,441 Retained earnings 35666 31,004 Income taxes .3,360 2 26 Depreciation Expenses 115,000 459,000 Capital surplus 57,856 3,030 Trade Receivables 5,725 4, 185 Work In Process 2,335 1,278 Office Expenses 835,000 355,000 Property Plant & Equip 89,027 24,163 Sales Returns 410,000 670,000 |Maintenance Expenses 125,000 110,000Case # 01 Fall 2018 Group: ACCT 201B: Hoffman Requirement B HoverCraft Inc. Comparative Income Statement For The Years Ended OWN 31-Dec 2017 2016 8 Sales - Vehicles 10 10 11 11 12 12 13 13 14 14 15 17 18 24 24 25 25 26 26 27 IN 28 28 29 29 30 30 31 31 32 32 33 Income From Operations 33 34 34 35 35 36 36 37 37 38 Net Income 38Fall 2018 Case # 01 Group: Requirement C HoverCraft Inc. Comparative Balance Sheets (000's) 31-Dec N Assets 2017 2016 10 14 15 17 Total Assets 18 19 Liabilities & Stockholder's Equity 20 21 22 23 24 25 26 27 28 29 30 31 32 Total liabilities 33 134 35 36 37 38 39 40 41 Total Liabilities & 42 Stockholders' Equity 13Case # 01 Fall 2018 Group: ACCT 2018: Hoffman Requirement D HoverCraft Inc. Variable Selling Admin Manufacturing Cost Item Cost Cost Product Cost Fixed Direct Indirect Ex Factory Manager Ex Production line worker V Wages of watchmen, executive offices 10 12 Delivery expenses on items sold 14 16 16 3 Wages of parts department personnel Promotion costs 20 35 5 Collection costs 11 6 Boxes used for packaging parts produced 24 Depreciation, company plane 81 Insurance on Corporate Offices 78 9 Insurance Expense, assembly workers 30 39 10 User's Guide 32 IN Insurance, WIP warehouses Maintenance on factory equipment 13 Toilet Paper in factory restrooms 38 IN 14 Metal for car body used 40 15 Property taxes, factory 16 Brokers' commissions 17 Sheet metal used in battery production. 18 Leather for interiorCase # 01 Fall 2018 Group: ACCT 201B: Hoffman Requirement E HoverCraft Inc. Accessories Division Cost Behavio April May June Sales in units 1850 2700 3800 Sales revenue $ 355,200 $ 518,400 $ 729,600 Cost of goods sold 299,000 333,000 377,000 Gross margin.5. 56,200 185,400 352,600 Selling and administrative Shipping expense 46,300 63,300 85,300 R & D expense. 24,300 24,300 24,300 17,760 25,920 36,480 gown Promotion expense. Salaries and commissions 37,820 54,140 75,260 Rent expense. 8,250 8,250 8,250 Total selling and admin exp.. 134,430 175,910 229,590 Net operating income (loss). $ (75,300) 4,500 95,700 Variable, Fixed or Mixed Explain / Reason Var/Unit Tot FixedPART I: SAMPLE MANAGERIAL ACCOUNTING CASE STUDIES CASE 1: COST CLASSIFICATIONS Roger is a student at Tacoma Community College and needs to supplement his income while going to school. Roger buys a new car and decides to be an Uber driver. The hours are flexible and the pay is reasonably good allowing Roger to go the school and work. Roger didn't drive much during March as he was on spring break. In addition, Roger drove less during May and December because he was studying for final exams. Uber requires Roger to pay a commission of 20 percent on all gross receipts. Roger buys a new Hyundai Elantra SE for $25,000. Roger thinks the car will last four years and will have a residual value of $5,000. Roger plans to depreciate the car using straight-line depreciation. The car will be used 100 % for business. Roger keeps track of his expenses in three categories. Those categories are insurance on the car, fuel costs; and other costs. The other category includes fixing of flat tires, oil changes, speeding tickets, car washes/detailing, cell phone with data, and auto maintenance. Roger ignores federal income taxes as a business expense and self-employment taxes as they are not reported as a business expense on his tax return. You are to ignore these costs in your computations. Roger's gross receipts for the year were $62,500. Expenses paid with cash or credit card during the last year are as follows: Auto Insurance... . .. .......... $4,439 Fuel Expense.... cases.... $6,294 Other Miles Driven Total Other Cost 749 - fixed costs + (0.072 # January 2,817 $ 460 February 3,453 529 749 fixed costs + 494.35 March 1,255 340 - 494. 352 = Pixel cud- 494.35 April 4,892 690 May 1,629 400 254. 648 June 5,478 718 July 5,381 706 August 6,933 749 September 3,983 569 October 3,630 542 November 4,762 662 December 3,387 501 Total 47,600 Required: 1. Using the high-low method determine the portion of "Other" costs that are fixed (rounded to the nearest dollar) and the variable cost per mile (rounded three decimal places). 2. Looking at all costs, what are the total variable cost per mile and the total fixed costs? Include cash and noncash annual expenditures in your analysis. 3. Using the results of #2 above, if Roger drives 60,000 miles next year with an estimated gross receipts of $78,782, what is the estimated total costs and average cost per mile? 4. Prepare a contribution margin income statement for this year and next year. Calculate your income per mile. Explain your results in detail. 5. Research online any taxes that might be due the Washington State Department of Revenue by Uber drivers. Explain how the tax is calculated