ACC 206 Week 4 Assignment Chapter Six and Seven Problemshttp://www.homeworkwarehouse.com/downloads/acc-206-week-4-assignment-chapter-six-and-seven-problems/

ACC 206 Week 4 Assignment Chapter Six and Seven ProblemsPlease complete the following 8 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button.Chapter 6 Exercise 22. Schedule of cash collectionsSugarland Company sells a single product and anticipates opening a new facility in Charlotte on May 1 of the current year. Expected sales during the first three months of activity are: May, $60,000; June, $80,000; and July, $85,000. Thirty percent of all sales are for cash; the remaining 70% are on account. Credit sales have the following collection pattern:Chapter 6 Exercise 44. Production and cash-outlay computationsRPR, Inc., anticipates that 120,000 units of product K will be sold during May. Each unit of product K requires four units of raw material A. Actual inventories as of May 1 and budgeted inventories as of May 31 follow.Chapter 6 Exercise 55. Abbreviated cash budget; financing emphasisAn abbreviated cash budget for Big Chuck Enterprises follows.Chapter 6 Problem 33. Comprehensive budgetingThe balance sheet of Watson Company as of December 31, 20X1, follows.Chapter 7 Exercise 33. Variances for direct materials and direct laborBanner Company manufactures flags of various countries. Each flag has a standard of eight square feet of fabric and three hours of direct labor time. Information about recent production activity follows.Chapter 7 Exercise 55. Overhead variancesNova Manufacturing applies factory overhead to products on the basis of direct labor hours. At the beginning of the current year, the companys accountant made the following estimates for the forthcoming period: Estimated variable overhead: $500,000 Estimated fixed overhead: $400,000 Estimated direct labor hours: 40,000It is now 12 months later. Actual total overhead incurred in the manufacture of 7,900 units amounted to $895,100. Actual labor hours totaled 39,800. Assuming a direct labor standard of five hours per finished unit, calculate the following:a. Variable overhead efficiency varianceb. Fixed overhead volume variancec. Overhead spending varianceChapter 7 Problem 11. P26-A1 Basic flexible budgeting (L.O. 2)Centron, Inc., has the following budgeted production costs:Direct materials$0.40 per unitDirect labor1.80 per unitVariable factory overhead2.20 per unitFixed factory overheadSupervision$24,000Maintenance18,000Other12,000The company normally manufactures between 20,000 and 25,000 units each quarter. Should output exceed 25,000 units, maintenance and other fixed costs are expected to increase by $6,000 and $4,500, respectively.During the recent quarter ended March 31, Centron produced 25,500 units and incurred the following costs:Direct Materials$10,710Direct Labor47,175Variable factory overhead51,940Fixed factory overheadSupervision24,500Maintenance23,700Other16,800Total production costs$174,825Instructions:a. Prepare a flexible budget for 20,000, 22,500, and 25,000 units of activity.b. Was Centrons experience in the quarter cited better or worse than anticipated? Prepare an appropriate performance report and explain your answer.c. Explain the benefit of using flexible budgets (as opposed to static budgets) in the measurement of performance.Chapter 7 Problem 55. P26-B3 Straightforward variance analysis (L.O. 5)Arrow Enterprises uses a standard costing system. The standard cost sheet for product no. 549 follows.