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In preparation for your course project, prepare the preliminary strategy audit using the tools and framework you have focused on so far including the following:
You will learn to read and interpret financial statements. Understanding the four financial statements provided in the lectures
Comprehensive accounting for manufacturing transactions Howie Stars produces stars for elementary teachers to reward their students
Prepare a trial balance at June 30, 2012. Use the Work in process inventory T-account to prepare a schedule of cost of goods manufactured for the month.
Compute the total costs of the units (gallons) . completed and transferred out to the Packaging Department.
Compute the total cost IAP will incur to (a) purchase the needed materials and then (b) assemble and (c) package 50,000 baby seats.
What is the ending balance of the Raw and in-process inventory account? How much Cost of goods sold did Flores have in June?
Which account is not used in JIT costing? Finished goods inventory . Raw and in-process inventory . Work in process inventory . Conversion costs
Prepare summary journal entries for August using JIT costing, including the entry to close the Conversion costs account.
Complete the missing items for the two tables. Why might managers favor this ABC system instead of August's older system
Calculate the predicted quality cost savings from the design engineering work.
Evaluate the ROI performance of Household Products. Using your answers from (b), compute the residual income for Household Products.
What are the benefits of organizational mission and values statements? How are organizational missions and strategies related to performance measures?
How will you benchmark these measures? How will you react to employees who are "workaholics"?
(ROI) Data for the three autonomous divisions of Arizona Mining, Inc. for fiscal year 2010 follow.Compute the return on investment for each division.
Calculate the following performance measures for 2010 for the Lancaster Division: pre-tax ROI, and
Why would the use of EVA discourage a high-growth strategy? Could the concept of the balanced scorecard be used to encourage
Given the present bonus arrangement, is it fair for Drummondville Automotive management to expect Peach to acquire GGI?
Differentiate between committed and discretionary costs. Could a cost be considered discretionary by one firm and committed by another?
Why do firms hold cash balances? Why do some firms hold larger cash balances than other firms?
How are adverse and favourable variances calculated? What is a line item budget? What is an incremental budget?
How are variable overhead cost variances calculated? How are fixed overhead cost variances calculated??
Prepare an accounting statement reconciling the budgeted costs for the month of May with the actual costs incurred
Prepare journal entries for each transaction. Then explain each journal entry in terms of what got increased and what got decreased.
Compute Skippy's predetermined manufacturing overhead rate for 2011. Journalize the transactions in the general journal.