{"id":434913,"date":"2018-06-24T16:21:05","date_gmt":"2018-06-24T16:21:05","guid":{"rendered":"https:\/\/essaypaper.org\/?p=28861"},"modified":"2018-10-24T09:01:45","modified_gmt":"2018-10-24T09:01:45","slug":"assignment-paper-thunder-creek-project","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/assignment-paper-thunder-creek-project\/","title":{"rendered":"Assignment Paper-Thunder Creek Project"},"content":{"rendered":"

Thunder Creek Project<\/strong><\/h2>\n

Instructions: <\/strong><\/p>\n

For the purpose of grading the project you are required to perform the following tasks:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Step<\/strong><\/td>\nInstructions<\/strong><\/td>\nPoints Possible<\/strong><\/td>\n<\/tr>\n<\/thead>\n
1<\/strong><\/td>\nDownload and open the excel spreadsheet, Miller-Nobles_6e-12e-Using_Excel_Ch22_Start.xlsx. This spreadsheet includes 2 tabs; you will enter all answers on the second tab, ENTERANSWERS.
\n(All answers should be entered in the blue highlighted cells.)<\/td>\n		0.000<\/td>\n<\/tr>\n
2<\/strong><\/td>\nThunder Creek Company is preparing budgets for the first quarter of 2018.\u00a0 All relevant information is presented on the Excel template.<\/p>\n

Prepare a sales budget. (18 pts)<\/p>\n

Thunder Creek Company expects sales of 18,000 units in January 2018, 24,000 units in February,\u00a0 30,000 units in March, 34,000 in April, and 36,000 in May.\u00a0 The sales price is $34 per unit.<\/p>\n

(Always use cell references and formulas where appropriate to receive full credit.)<\/td>\n

18.000<\/td>\n<\/tr>\n
3<\/strong><\/td>\nPrepare a production budget. (26 pts)<\/p>\n

Thunder Creek wants to finish each month with 20% of next month’s sales in units. Remember, beginning inventory for the period is equal to the ending inventory of the previous period.<\/p>\n

(Always use cell references and formulas where appropriate to receive full credit.)<\/td>\n

26.000<\/td>\n<\/tr>\n
4<\/strong><\/td>\nPrepare a direct materials budget. (39 pts)<\/p>\n

Thunder Creek Company uses 2 pounds of direct materials for each unit it produces, at a cost of $4.00 per pound. The company begins the year with 9,500 pounds of material in Raw Materials Inventory. Management desires an ending inventory of 25% of next month’s materials requirements.<\/p>\n

(Always use cell references and formulas where appropriate to receive full credit.)<\/td>\n

39.000<\/td>\n<\/tr>\n
5<\/strong><\/td>\nPrepare a direct labor budget. (20 pts)<\/p>\n

Thunder Creek Company’s workers require 30 minutes of labor to produce each unit of product. The labor cost is $20 per hour.<\/p>\n

(Always use cell references and formulas where appropriate to receive full credit.)<\/td>\n

20.000<\/td>\n<\/tr>\n
6<\/strong><\/td>\nPrepare a Manufacturing Overhead Budget. (33 pts)<\/p>\n

1.\u00a0 Thunder Creek Company prepares its Manufacturing Overhead Budget. For each direct labor hour, the variable overhead costs are: Indirect Materials = $1.00 per DLH; Indirect Labor Cost = $1.30 per DLH; Maintenance = $1.20 per DLH”<\/p>\n

2.\u00a0 The Fixed Overhead Costs per month are:\u00a0 Salaries of $40,000, Depreciation =$20,000 and Maintenance = $10,000.<\/p>\n

3.\u00a0 ROUND the predetermined overhead allocation rate to two decimal places. Manufacturing overhead is allocated using direct labor hours.<\/p>\n

(Always use cell references and formulas where appropriate to receive full credit.)<\/td>\n

33.000<\/td>\n<\/tr>\n
7<\/strong><\/td>\nCalculate Cost Per Unit, then prepare a cost of goods sold budget. (20 pts)<\/p>\n

Thunder Creek Company uses\u00a0 the first-in, first-out (FIFO) inventory costing method.
\nThe Beginning Finished Goods Inventory is $86,400 consisting of 3,600 units.<\/p>\n

1.\u00a0 Begin by calculating the projected cost to produce each unit in 2018 based on projected sales.<\/p>\n

2.\u00a0 ROUND the fixed manufacturing overhead cost per unit to two decimal places.<\/p>\n

(Always use cell references and formulas where appropriate to receive full credit.)<\/td>\n

20.000<\/td>\n<\/tr>\n
8<\/strong><\/td>\nPrepare a Selling and Administrative Expense Budget. (20 pts)<\/p>\n

Thunder Creek Company’s variable supplies expense per month is $3.00 per unit.\u00a0 The fixed selling and administrative expenses per month consist of Salaries:\u00a0 $245,000; Advertising: $30,000;\u00a0 and Depreciation:\u00a0 $28,000<\/p>\n

(Always use cell references and formulas where appropriate to receive full credit.)<\/td>\n

20.000<\/td>\n<\/tr>\n
9<\/strong><\/td>\nOnce completed, save the project to the desktop. File name can be anything, but DO NOT include spaces. Return to auto-graded excel activity window, and progress to Step 3. Follow on screen instructions.<\/p>\n

(To review score, navigate to Results in MYLab and click on Review link.)<\/td>\n

0.000<\/td>\n<\/tr>\n
 <\/td>\nTotal Points<\/strong><\/td>\n176.000<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Thunder Creek Project Instructions: For the purpose of grading the project you are required to perform the following tasks: Step Instructions Points Possible 1 Download and open the excel spreadsheet, Miller-Nobles_6e-12e-Using_Excel_Ch22_Start.xlsx. This spreadsheet includes 2 tabs; you will enter all Read More …<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-434913","post","type-post","status-publish","format-standard","hentry","category-essay-paper-writing"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/434913","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=434913"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/434913\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=434913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=434913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=434913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}