Reference no: EM132694958

ASSIGNMENT.

You are managing a software project with an initial budget estimate of sh.2,000,000 . During interim cost and schedule performance analysis, you figured out that: You should have spent sh.500,000 till now based on your initial plans and 1,000 man/days of schedule activities.
You spent sh.600,000 till now and completed 1,100 man/days of schedule activities which should have cost sh. 450,000 based on your initial plans.
You re-estimated the budget required for the remaining work to be done as sh.1,500,000.

Required

Question 1
What is the CPI and SPI of the project respectively?
A-) CPI=0.9 and SPI=1.2 B-) CPI=1.2 and SPI=0.9 C-) CPI=0.75 and SPI=1.1
D-) CPI=1.1 and SPI=0.75
Question 2
What is the CV and SV of the project respectively?
A-) CV= -$150,000 and SV=100 man/days B-) CV= $150,000 and SV= -100 man/days
C-) CV= -$100,000 and SV= -100 man/days D-) CV= $100,000 and SV=100 man/days

Question 3
What is the Variance at Completion?
A-) -$100,000 B-) $100,000 C-) -$50,000 D-) $50000
Question 4
What is the TCPI based on your new Estimate at Completion value?

A-) 1.11 B-) 0.90 C-) 1.03 D-) 0.97
Question 5
What is the status of your project?
A-) Project is ahead of schedule, under budget, and it is easier to complete the project on new EAC
B-) Project is behind schedule, over budget, and it is harder to complete the project on new EAC
C-) Project is ahead of schedule, over budget, and it is easier to complete the project on new EAC
D-) Project is ahead of schedule, over budget, and it is harder to complete the project on new EAC

1. MC.05.70
Inventory is classified on the balance sheet as a

a. current asset
b. long-term asset
c. long-term liability
d. current liability

2. MC.05.153
A company using the periodic inventory system has inventory costing $210 on hand at the beginning of a period. During the period, merchandise costing $635 is purchased. At year-end, inventory costing $160 is on hand. The cost of goods sold for the year is
a. $685
b. $795
c. $635
d. $265

3. EX.05.206
Record the following transactions for Sparky's Pet Shop using the general journal form provided below. Assume Sparky's uses a perpetual inventory system. Omit transaction descriptions from entries:

Date Transaction
August 1 Purchased $6,000 of merchandise on account, terms 2/10, n/30.
3 Returned $1,500 of merchandise purchased on August 1 due to defects.
7 Recorded cash sales for the first week of August, $9,750; cost of the merchandise was $4,000.
10 Made sale on account to a local breeder for $500, terms 1/10 net 30; cost of the merchandise was $200. 11 Paid for the merchandise purchased on August 1, less return.
20 Received payment from sale of August 10.

If an amount box does not require an entry, leave it blank.

4. EX.05.221
Prepare a multiple-step income statement for Armstrong Co. from the following data for the year ended December 31.

Sales, $755,000; cost of goods sold, $330,000; administrative expenses, $35,000; interest expense, $30,000; rent revenue, $25,000; selling expenses, $50,000.

5. MC.06.80
The following lots of a Commodity P were available for sale during the year.

Beginning inventory 5 units at $61 First purchase 15 units at $63 Second purchase 10 units at $74 Third purchase 10 units at $77

The firm uses the periodic system, and there are 20 units of the commodity on hand at the end of the year.

What is the amount of cost of goods sold for the year according to the average cost method? a. $1,380

b. $1,510
c. $1,250
d. $1,375

6. EX.06.161.ALGO (Algorithmic)
Beginning inventory, purchases, and sales for an inventory item are as follows:

Sep. 1 Beginning Inventory 31 units @ $19 5 Sale 18 units
17 Purchase 33 units @ $21
30 Sale 32 units

Assuming a perpetual inventory system and the first-in, first-out method:

a. Determine the cost of the goods sold for the September 30 sale.
$

b. Determine the inventory on September 30.
$

7. EX.05.209
Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.

a. Sold merchandise for $645 cash. The cost of goods sold was $375.
b. Sold merchandise for $432 and accepted VISA as the form of payment. The cost of goods sold was $195.
c. Sold merchandise on account for $670. The cost of goods sold was $438.
d. Paid credit card fees for the month of $85.

If an amount box does not require an entry, leave it blank.

8. EX.05.199
Details of invoices for purchases of merchandise are as follows:

Determine the amount to be paid in full settlement of each of the invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.
a. $
b. $
c. $
d. $

9. MC.06.45
Under a perpetual inventory system, the amount of each type of merchandise on hand is available in the

a. customer's ledger
b. creditor's ledger
c. purchase ledger
d. inventory ledger

10. MC.06.53
Which of the following methods is appropriate for a business whose inventory consists of a relatively small number of unique, high-cost items?
a. specific identification
b. FIFO
c. average
d. LIFO

11. EX.05.214
Journalize the following transactions assuming the perpetual inventory system:

July 3 Sold merchandise on account for $3,750 terms n/eom. The cost of the goods sold was $2,000.
July 5 Issued credit memo for $1,050 for merchandise returned from sale on July 3. The cost of the merchandise returned was $610. July 12 Received check for the amount due for sale on July 3 less return on July 5.
July 17 Sold merchandise for $7,000 plus 6% sales tax to cash customers. The cost of the goods sold was $3,830.

12. MC.06.114
The method of estimating inventory that uses records of the selling prices of the merchandise is called

a. gross profit method
b. inventory turnover method
c. average cost method
d. retail method

13. MC.05.80
The primary difference between the periodic and perpetual inventory systems is that a

a. periodic system provides an easy means to determine inventory shrinkage
b. periodic system records the cost of the sale on the date the sale is made
c. periodic system keeps a record showing the inventory on hand at all times
d. periodic system determines the inventory on hand only at the end of the accounting period

14. MC.06.47
The primary objectives of control over inventory are

a. safeguarding the inventory from damage and maintaining constant observation of the inventory
b. maintaining constant observation of the inventory and reporting inventory in the financial statements
c. reporting inventory in the financial statements
d. safeguarding inventory from damage and reporting inventory in the financial statements

15. EX.06.164.ALGO (Algorithmic)
Beginning inventory, purchases, and sales for an inventory item are as follows:

Sep. 1 Beginning Inventory 25 units @ $12 5 Sale 15 units
17 Purchase 25 units @ $15
30 Sale 18 units

Assuming a perpetual inventory system and the last-in, first-out method:

a. Determine the cost of the goods sold for the September 30 sale.
$

b. Determine the inventory on September 30.
$

16. MC.06.48
Taking a physical count of inventory

a. should be done near year-end
b. has no internal control relevance
c. is not necessary when a perpetual inventory system is used
d. is not necessary when a periodic inventory system is used

17. MC.06.56
Cost flow is in the order in which costs were incurred when using

a. weighted average
b. first-in, first-out
c. last-in, first-out
d. average cost

18. MC.06.65
Under the inventory method, accounting records maintain a continuously updated inventory value.

a. physical
b. periodic
c. retail
d. perpetual

19. MC.06.54
Ending inventory is made up of the oldest purchases when a company uses

a. first-in, first-out
b. average cost
c. last-in, first-out
d. retail method

20. MC.06.103
During the taking of its physical inventory on December 31, 2014, Barry's Bike Shop incorrectly counted its inventory as $350,000 instead of the correct amount of $280,000. The effect on the balance sheet and income statement would be
a. assets overstated by $70,000; retained earnings understated by $70,000; and no effect on the income statem
b. assets overstated by $70,000; retained earnings understated by $70,000; and net income statement understa
c. assets, retained earnings, and net income all overstated by $70,000
d. assets and retained earnings overstated by $70,000; and net income understated by $70,000

21. EX.05.200
Journalize the entries to record the following selected transactions:

a. Sold $900 of merchandise on account, subject to 7% sales tax. The cost of the goods sold was $510.
b. Paid $436 to the state sales tax department for taxes collected.

Choose Pair 4- Technology: Nearmap Ltd. (ASX: NEA) and Megaport Ltd. (ASX: MP1). The three-year annual reports and operating requirements of the two companies are in the attachment.

Please read the requirements carefully.the requirement (c)and (D)is very importance!Please pay attention to it. Each question needs a separate paragraph. This is an assignment in 1500 words. But it is necessary to produce ROA for the two companies for nearly three years.

Attachment:- ASSIGN QUIZ.rar