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If management accountants don't have to follow GAAP in their reporting and have the freedom of more customized reporting, are ethics still important? Explain. Do research and post summaries of you
Michaels Company segments its income statement into its East and West Divisions. The company's overall sales, contribution margin ratio, and net operating income are $600,000, 50%, and $50,000, resp
The following information (in millions of dollars) is available for Designer Brands for 2007: Sales revenue $12,580; net income $848; preferred stock dividend $0; average shares outstanding 438 mil
Allocate the overhead costs to the producing departments using the direct method and then compute the total overhead cost for each producing department.
Stan Loy owns the Vista Barber Shop. He employs 5 barbers and pays each a base rate of $1,070 per month. One of the barbers serves as the manager and receives an extra $502 per month.
Around 500 words.Harvard professor Robert Kaplan is recognised as one of the ‘founding fathers' responsible for the development of activity-based.
ABC company wants to invest in a new venture capital fund that currently earns 16% per year, compounded quarterly. What is the annual effective rate?
On July 1, 2010, Crowe Co. pays $19,088 to Zubin Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Crowe Co. journalize the entry on July 1 and
Identify two reasons why accounting is important for business. Justify your selections.Evaluate the importance of ethics in accounting. Defend your evaluation
How can we determine that the accounting principles used by P&G are prepared on a basis consistent with those of last year?The notes to the financial statement indicate that P&G adopted new
Tim is a single, cash method taxpayer with one personal exemption. In April of this year Tim paid $1,020 with his state income tax return for the previous year. During the year, Tim had $5,400 of
Beginning work in process inventory: 2000 tires, 100% complete for direct materials, 60% complete for coversion costs, cost of direct materials=$12,000, cost of direct labor and manufacturing overhe
Refer to P&G's financial statements and the accompanying notes to answer the questions:<br /><br />1. What are P&G's primary lines of business as shown in the notes to th
On accepting a new manufacturing client, the auditor usually arranges to take a tour of the manufacturing plant. Assuming that the client has one major manufacturing plant.
If a coumpany has 4000 units started by the end of a period, all but 400 are completed. The 400 units are 80% complete reguarding materials and 40%
Present journal entries to record the following selected transactions of Masterson Corporation:Purchased 600 shares of the 100,00 shares outstanding $10 par common shares of Dankin Corporation for
Double Eagle Corporation produces the prestigious "Double Eagle" golf ball in one department using a process costing system. At the beginning of January, 10,000.
You know that both internal and external users have not only the short-term success, but also the long-term success of the company at the forefront of their minds.
A clothing manufacturer is considering dropping their product line of coats. What costs of the product line would be relevant to this decision? What costs would be irrelevant to the decision?
Company has provided the following data for the month of Feb. There were no beginning inventories; the direct materials, direct labor, and MOH applied listed are for current month.
In addition to these costs, product costs amount to 80 percent of sales. In the prior year, Cortez had the following experience with one of its customers, Green Company:
A company estimates that ordering costs are $2.00 per order, picking costs are $1.00 per unique item ordered, packing costs are $0.07 per item, and return costs are $40.00 per return.
Deer Company approaches Core with a special order for 15,000 units at a price of $8.50 per unit. Variable costs will be the same as the current production and accepting the special order will not ha
Assume that a taxpayer purchases a computer in 2010 that has an estimated useful life of 10 yrs. If the computer is used 100% for business and no election to expense was made.
A company believes it can sell 5,000,000 of its proposed new optical mouse at a price of $11.00 each. There will be $8,000,000 in fixed costs associated with the mouse.