Waterways corporation case study | Accounting homework help

 

nstructions
Waterways (Chapter 19) 

For this assignment, you will apply what you have learned  from the unit        lesson and required unit resources. The Waterways (WP19) case is  located on       page 19-39 of the textbook. 

Waterways Corporation is a private corporation  formed for  the purpose of      providing the products and the services needed to  irrigate farms,  parks,       commercial projects, and private lawns. It has a  centrally located  factory in    a U.S. city that manufactures the products it  markets to retail  outlets       across  the nation. It also maintains a division that  performs  installation      and  warranty servicing in six metropolitan areas. 

The  mission of Waterways is to manufacture quality parts  that can be used     for  effective irrigation projects that also conserve water. By  that effort,     the  company hopes to satisfy its customers, perform rapid and  responsible       service,  and serve the community and the employees who represent  them in each    community. 

 The company has been growing rapidly, so management is  considering new       ideas  to help the company continue its growth and maintain the  high quality      of  its products. 

Waterways was founded by Will Winkman, who is the company  president  and       chief executive officer (CEO). Working with him from the company’s  inception      is  Will’s brother, Ben, whose sprinkler designs and ideas about the        installation  of proper systems have been a major basis of the company’s        success.  Ben is the  vice president who oversees all aspects of design and        production in  the  company. 

The factory itself is managed by Todd Senter, who  hires  his line managers     to supervise the factory employees. The factory makes  all of  the parts for      the  irrigation systems. The purchasing department is  managed by  Helen Hines.           

The installation and training division is overseen by  vice  president, Henry   Writer, who supervises the managers of the six local  installation operations.    Each of these local managers hires his or her own  local  service people. These    service employees are trained by the home office  under  Henry Writer’s       direction because of the uniqueness of the company’s  products. 

There is a small human resources department under the  direction of  Sally      Fenton, a vice president who handles the employee paperwork,  though  hiring is    actually performed by the separate departments. Teresa Totter  is the  vice      president who heads the sales and marketing area; she oversees 10  well-trained    salespeople. 

The accounting and finance division of the company  is  headed by Ann       Headman, who is the chief financial officer (CFO) and a  company  vice       president; she is a member of the Institute of Management  Accountants and        holds a certificate in management accounting. She has a small  staff of        accountants, including a controller and a treasurer, and a staff of  accounting    input operators who maintain the financial records. 

A partial list  of Waterways’ accounts and their balances  for the month of     November is itemized  below. 

  Accounts Receivable $275,000  Advertising Expenses 54,000   Cash 260,000  Depreciation – Factory       Equipment 16,800  Depreciation –  Office Equipment 2,400  Direct Labor 42,000  Factory Supplies Used 16,800  Factory Utilities 10,200  Finished Goods Inventory,  November       30   68,800   Finished Goods Inventory,  October       31  72,550  Indirect Labor  48,000    Office Supplies Expense   1,600   Other Administrative Expenses 72,000    Prepaid  Expenses 41,250  Raw Materials Inventory,  November       30  52,700   Raw Materials Inventory,  October       31  38,000   Raw Materials Purchases 184,500  Rent – Factory Equipment 47,000   Repairs – Factory Equipment 4,500  Salaries  325,000  Sales Revenue    1,350,000   Sales  Commissions   40,500   Work in Process Inventory,  October       31 52,700  Work in Process Inventory,  November       30  42,000  

Instructions: 

  • Based on the information given, construct an organizational chart of the                        Waterways Corporation. You may create the organizational    chart     in           Microsoft       Word or Excel. 
  • A list of accounts and their values are given above. From this                        information, prepare a cost of goods manufactured schedule, an income                        statement, and a partial balance sheet for the month of      November,   which       should           be created using Excel. 

If you elect to  create your organizational chart in a Word  document, then     you will need to  submit both a Word document (containing the  organizational     chart) and an Excel  document (containing the cost of goods  manufactured       schedule, income statement,  and partial balance sheet). If you  elect to       create  your organizational chart in  Excel, you will only submit an  Excel       document,  which would contain all  components of the  assignment. 

APA  formatting is not necessary.   

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