[answered] Managerial Accounting 1. Recently, you have been offered a

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Managerial Accounting

 

1. Recently, you have been offered a summer internship to serve as staff accountant for a

 

mid-sized corporation. In accepting the position, you have the choice to work in two

 

different departments - the financial or managerial accounting group. After remembering

 

the content of this course, you decide that you are interested in exploring managerial

 

accounting in more detail and decide to work as a management accounting intern. Midway through the internship, your career advisor approaches you with the following

 

questions: What are the differences between the purpose of financial accounting and

 

managerial accounting? How has the role of the managerial accountant changed in recent years? How

 

can Biblical principles be integrated into an accountant's responsibilities? What is the difference between strategic and operational planning? When reviewing the decisions that this company must make, what factors

 

and costs are relevant?

 

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After addressing these questions, your direct supervisor comes to you with a

 

small project for analysis. The manager of the manufacturing department is trying to

 

decide if a plant 100 miles from corporate headquarters should continue to operate or shut

 

down resulting in the discontinuance of a product line. You are presented with the

 

following information and questions: Identify two pieces of financial information that would be relevant to the

 

decision. Also, identify two pieces of financial information that would not be

 

relevant to the decision. Finally, what are two pieces of nonfinancial information

 

that would be relevant to the decision. The manager provides you with two financial statements - a traditional

 

income statement and a contribution margin income statement. What are the

 

fundamental decisions between the two types of statements?

 

1. The manufacturing manager also provides you with the following

 

operational information: Current Sales = 40,000 units; Sales = $705,000; Variable

 

Costs = $490,000; Fixed Costs = $220,000. Based upon this information, what is

 

the total contribution margin, the contribution margin ratio, the unit contribution

 

margin, and the break-even point in dollars and in units.

 

Based upon these calculations, what would happen to the contribution

 

margin if fixed costs decrease and variable costs remain constant? How could this

 

manufacturing unit decrease its break-even point?

 

Assume that after a full evaluation of the results above and alternatives, the

 

decision has been made to discontinue operations of the product. Discuss the

 

obligations the company has to report this information and also the obligations the

 

company has to workers that will be displaced taking into consideration biblical

 

principles. Each set of questions under Part 1 and 2 can be addressed by using bullet points; APA standards

 

will still apply pertaining to the formatting of the title page, citations, and references. Cite a

 

minimum of 5 scholarly peer reviewed journal articles; integrate a (Total word count range 800).

 

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