Solve

Paper details  

Assessment 7
Calculate absorption costing income and variable costing income. Construct and prepare an income statement for a calendar year.

Note: Accounting requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order.

Businesses must track the costs of doing business and profits to plan for the future.

SHOW LESS
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:

Competency 2: Apply sound budgeting principles.
Calculate absorption costing income and variable costing income.
Competency 4: Analyze financial statements.
Construct an income statement for each year using variable costing.
Prepare an income statement for a calendar year using variable costing.
Competency 5: Communicate in a manner that is professional and consistent with expectations for professionals in the field of accounting.
Communicate quantitative information accurately and effectively.
Competency Map
CHECK YOUR PROGRESS
Use this online tool to track your performance and progress through your course.
Toggle Drawer
Resources
Required Resources
The following resources are required to complete the assessment.

Capella Resources
You will use the following template to complete this assessment:

Variable Costing Conversion Template [XLSX].
SHOW LESS
Suggested Resources
The resources provided here are optional and support the assessment. They provide helpful information about the topics. You may use other resources of your choice to prepare for this assessment however, you will need to ensure that they are appropriate, credible, and valid. The BUS-FP4061: Managerial Accounting Principles Library Guide can help direct your research. The Supplemental Resources and Research Resources, both linked from the navigation menu in your courseroom, provide additional resources to help support you.

Standard Costs
The following resources provide information about costing related to standard costs.

Bragg, S. M. (2010). Accounting best practices (6th ed.). Hoboken, NJ: Wiley.
Chapter 14, “General Best Practices.”
Gopal, R. C. (2009). Accounting for managers (Starting from basics). New Delhi, India: New Age International.
Chapter 15, “Standard Costing and Variance Analysis.”
Chapter 17, “Zero-Based Budgeting.”
Tiffin, R. (2007). The finance and accounting desktop guide. London, UK: Thorogood.
Chapter 8, “Costing for Planning.”
Standard Costs and Variances
The following resources provide information about standard costs and variable costing. Available from the bookstore.

Garrison, R., Noreen, E., & Brewer, P. (2021). Managerial accounting (17th ed.). McGraw- Hill.
Chapter 10, “Standard Costs and Variances.”
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2018). Accounting principles (13th ed.). Wiley.
Chapter 26, “Standard Costs and Balanced Scorecard.”
Wild, J. J., Shaw, K. W., & Chiappetta, B. (2019). Financial and managerial accounting: Information for decisions (8th ed.). McGraw-Hill.
Chapter 19, “Variable Costing and Analysis.”
Assessment Instructions
Note: Accounting requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order.

Use the Variable Costing Conversion Template, linked in the Resources under the Required Resources heading, to complete this assessment.

Assessment 8
Prepare a master budget and a flexible budget in this two-part assessment.

Note: Accounting requires specific steps that need to be executed in a sequence. The assessments in this course are presented in sequence and must be completed in order.

A master budget is a management tool for planning. A flexible budget provides crucial information for differing levels of business activity.

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Quality Custom Writers has assembled a team of highly skilled writers with diverse experience in the online writing circles. Our aim is to become a one stop shop for all your Academic/ online writing. Check out below our amazing service!

Essays

Essay Writing Services

At Quality Custom Writers, we prioritize on all aspects that creates a good grade such as impeccable grammar, proper structure, zero-plagiarism, and conformance to guidelines. The principal purpose of essay writing is to present the author's evaluation concerning a singular subject about which they have made. Since Professionalism is the mother of every success, try our team of experienced writers in helping you complete your essays and other assignments.

Admissions

Admission Papers

You have been trying to join that prestigious institution you long yearned for, but the hurdle of an admission essay has become a stumbling block. We have your back, with our proven team that has gained invaluable experience over time, your chance of joining that institution is now! Just let us work on that essay.How do you write an admission essay? How do you begin the essay? For answers, try Quality Custom Writers Now!

Editing

Editing and Proofreading

Regardless of whether you're pleased with your composing abilities, it's never an impractical notion to have a second eye go through your work. The best editing services leaves no mistake untouched. We recognize the stuff needed to polish up a writing; as a component of our editing and proofreading, we'll change and refine your write up to guarantee it's amazing, and blunder free. Our group of expert editors will examine your work, giving an impeccable touch of English while ensuring your punctuation and sentence structures are top-notch.

Coursework

Technical papers

We pride ourselves in having a team of clinical writers. The stringent and rigorous vetting process ensures that only the best persons for job. We hire qualified PhD and MA writers only. We equally offer our team of writers bonuses and incentives to motivate their working spirit in terms of delivering original, unique, and informative content. They are our resources drawn from diverse fields. Therefore your technical paper is in the right hands. Every paper is assessed and only the writers with the technical know-how in that field get to work on it.

Coursework

College Essay Writing

If all along you have been looking for a trustworthy college essay service provider that provides superb academic papers at reasonable prices, then be glad that you search has ended with us. We are your best choice! Get high-quality college essay writing from our magnificent team of knowledgeable and dedicated writers right now!

Coursework

Quality Assignment/Homework Help

We give the students premium quality assignments, without alarming them with plagiarism and referencing issues. We ensure that the assignments stick to the rules given by the tutors. We are specific about the deadlines you give us. We assure you that you will get your papers well in advance, knowing that you will review and return it if there are any changes, which should be incorporated.

Open chat