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Week 3: Employee Motivation

Four-drive theory recommends that companies must keep fulfillment of the four drives in balance. What is this “balance” and why is it important? Give an example (real or hypothetical) of how a company maintains balanced drive fulfillment. Also describe a company that does not provide this balance, including the consequences of this imbalance on employees’ attitudes and behavior.

Show T-accounts for the Inventory Accounts and for Manufacturing Overhead. Prepare an income statement.

Chaos Manufacturing had the following financial information for the year ended December 31, 2021:
Inventory Balances: Beginning Ending
Work in Progress $ 90,000 $ 50,000
Finished Goods $ 57,000 $ 75,000
Raw Materials $ 10,000 $ 20,000
During the year, the budgeted and actual costs were as follows:
Note
Budget
Actual
Raw Materials
1
200,000
See note1
Labour
2
440,000
418,000
Depreciation Factory Equipment
72,000
72,000
Depreciation Office Equipment
24,000
24,000
Building Rent
3
100,000
100,000
Maintenance – Factory Equipment
64,000
40,000
Utilities – Electrical
4
200,000
180,000
Sales Commissions
40,000
40,000
Advertising
25,000
25,000
Shipping
5
20,000
17,000
Other information
Budget
Actual
Direct Labour Hours
20,000
17,000
Sales for the year were $1,500,000
Note 1 – Raw material
Budget: 90% of raw materials are traced directly to specific jobs, and the remaining 10% of raw materials are related to production but are untraceable to specific jobs
Actual: during the year $20,000 worth of materials were untraceable, and the rest were directly traced and applied to WIP.
During the year $200,000 of raw materials were purchased

Note 2 – Labour
Budget:
Direct Labour $200,000 Factory Salaries $80,000 Sales and Marketing Salaries $160,000 = $440,000
Actual:
Direct Labour $170,000 Factory Salaries $85,000 Sales and Marketing Salaries $163,000 = $418,000
Note 3 – Building Rent
The building is all for the manufacturing facility
Note 4 – Utilities Electrical
For both budget and actual costs, 80% of these costs are related to the factory, and 20% of these costs are related to the administrative office.
Note 5 – Shipping
Budget: 20% of budgeted shipping costs were for the delivery of raw materials to the manufacturing facility, and the remaining 80% of the shipping costs are for the delivery of finished goods to customers.
Actual: All of the shipping costs were for the delivery of finished goods to the customer.
Note 6 – Overhead
The manufacturer uses Normal Costing. Overhead is allocated based on Direct Labour costs.
The company is unsure how to treat under/over applied overhead.
Required:
Show T-accounts for the Inventory Accounts (Raw Materials, WIP, Finished Goods) and for Manufacturing Overhead.
Prepare an income statement. You may include a schedule of Cost of Goods Manufactured and Cost of Goods Sold as part of the Income Statement or as separate schedules.
Explain which options the company can use to allocate any under/over applied overhead. Identify which option you chose and why it was chosen.

Accounting Question

Accounting Assignment Help A growing number of organizations have been the target of hacking attacks, or cyberattacks, in recent years. High profile examples in the U.S. include Target Corp, Home Depot, Inc., the Internal Revenue Service, and other governments agencies such as the Office of Personnel Management. Companies and governments need to consider the risks of a cyberattack, and consider backup plans in the event a cyber attack results in a loss of hardware, software, or data. The committee of Sponsoring Organizations of the Treadway Commission (C)S)) issued a thought paper, COSO in the Cyber Age, to help organizations assess and mitigate risks associated with cybersecurity through the existing COSO Framework.
Visit the COSO website (www.coso.org) and refer to the :Guidance: tab.
After reviewing, please answer the following questions:
a. The COSO guidance acknowledges the “cyber risks is something that can be avoided: instead it must be managed.” Why is cyber risk unavoidable? Does this acknowledgement make it more or less difficult to address and mitigate cyber risk?b. At the control environment level (the first of the five components of internal control), what should organizations do to address cyber risks?c. The paper identifies five broad categories of cyberattack perpetrators and motivators. briefly describe each group of perpetrators and their motivation.d. What kind of control activities are recommended to address cyber risks?

Show T-accounts for the Inventory Accounts and for Manufacturing Overhead. Prepare an income statement.

Chaos Manufacturing had the following financial information for the year ended December 31 2021:
Inventory Balances: Beginning Ending
Work in Progress $ 90,000 $ 50,000
Finished Goods $ 57,000 $ 75,000
Raw Materials $ 10,000 $ 20,000
During the year, the budgeted and actual costs were as follows:
Note
Budget
Actual
Raw Materials
1
200,000
See note1
Labour
2
440,000
418,000
Depreciation Factory Equipment
72,000
72,000
Depreciation Office Equipment
24,000
24,000
Building Rent
3
100,000
100,000
Maintenance – Factory Equipment
64,000
40,000
Utilities – Electrical
4
200,000
180,000
Sales Commissions
40,000
40,000
Advertising
25,000
25,000
Shipping
5
20,000
17,000
Other information
Budget
Actual
Direct Labour Hours
20,000
17,000
Sales for the year were $1,500,000
Note 1 – Raw material
Budget: 90% of raw materials are traced directly to specific jobs, and the remaining 10% of raw materials are related to production but are untraceable to specific jobs
Actual: during the year $20,000 worth of materials were untraceable, and the rest were directly traced and applied to WIP.
During the year $200,000 of raw materials were purchased

Note 2 – Labour
Budget:
Direct Labour $200,000 Factory Salaries $80,000 Sales and Marketing Salaries $160,000 = $440,000
Actual:
Direct Labour $170,000 Factory Salaries $85,000 Sales and Marketing Salaries $163,000 = $418,000
Note 3 – Building Rent
The building is all for the manufacturing facility
Note 4 – Utilities Electrical
For both budget and actual costs, 80% of these costs are related to the factory, and 20% of these costs are related to the administrative office.
Note 5 – Shipping
Budget: 20% of budgeted shipping costs were for the delivery of raw materials to the manufacturing facility, and the remaining 80% of the shipping costs are for the delivery of finished goods to customers.
Actual: All of the shipping costs were for the delivery of finished goods to customer.
Note 6 – Overhead
The manufacturer uses Normal Costing. Overhead is allocated based on Direct Labour costs.
The company is unsure how to treat under/over applied overhead.
Required:
Show T-accounts for the Inventory Accounts (Raw Materials, WIP, Finished Goods) and for Manufacturing Overhead.
Prepare an income statement. You may include a schedule of Cost of Goods Manufactured and Cost of Goods Sold as part of the Income Statement or as separate schedules.
Explain which options the company can use to allocate any under/over applied overhead. Identify which option you chose and why it was chosen.

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