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Weekly tasks or assignments (Individual or Group Projects) will be due by Monday and late submissions will be assigned a late penalty in accordance with the late penalty policy found in the syllabus. NOTE: All submission posting times are based on midnight Central Time.
You are a fresh accounting graduate. You have landed a job with a big 3 accounting firm. The first day at your job, your manager approaches you: "Hi Bill! Welcome aboard. Hope you like your new cubicle. Have you met everyone? By the way, you will be working with me from tomorrow on Long House Company. This is an important client. They have sent me some information on their projects. Can you provide a report that answers all of the questions listed below? By the way I need it by tomorrow morning at 8 a.m.!"
Project
Total Contract Price
Billings Through 12/31/12
Cash Collections Through 12/31/12
Contract Costs Incurred Through 12/31/12
Estimated Additional Costs to Complete
A
$200,000
$100,000
$80,000
$120,000
$90,000
B
250,000
50,000
45,000
40,000
180,000
C
150,000
120,000
0
D
100,000
10,000
5,000
80,000
20,000
E
140,000
110,000
870,000
460,000
390,000
300,000
Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.
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