Benefits Structure for Capra Tek Discussion

Benefits Structure for Capra Tek Discussion

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I’m working on an accounting discussion question and need an explanation and answer to help me learn.

In today’s fast-paced world, new laws and technologies come along that can change the way a business operates and its cost’s structure. Recently, Valley Farms restaurant’s costs went up because of a new higher minimum wage in their area. They decide to raise their average meal ticket price, from $14–16, to cover the higher cost. Their variable costs are 60% of the selling price, and their fixed costs are $10,000 per month.

Discuss the cost–volume–profit relationships restaurants should consider before raising their prices.

Share some of the non-monetary factors to consider before raising a selling price.

Leader and Manager Roles in Evidence Based Practice Discussion

You are an employee at a full-service bookkeeping and auditing firm called Accounting Solutions. One of your clients is Jane Jewels, who owns a retail hobby store, Hobbies Galore. She just read an article on a supplier’s blog about how managing inventory costs can affect her profit. Jane is interested in growing her business and wants to report a high income. She feels investors are more likely to buy her stock when she shows a higher net profit. Jane recently acquired new technology and will be switching from a periodic inventory to a perpetual inventory system in the current month, August. Jane rotates her stock and sells the oldest items first.

Click this link to download a template, and then complete the tasks below:

Compare three different costing schedules for the August inventory

Journalize the transactions

Show which costing method reports the highest profit

Using the information Jane gives you, show the estimated ending inventory using the gross profit method.

Lastly, on the second workbook page (‘Financial Statements’ tab), using the information given, create a monthly multi-step income statement (#1), statement of retained earnings (#2) and a classified balance sheet for Hobbies Galore (#3).

Submit your completed assignment by following the directions linked below. Please check the Course Calendar for specific due dates.

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