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Budget of the United States government: The Office of Management and Budget provides access to the budget of the United States government at its Web site: www.gpoaccess.gov/usbudget/citizensguide.html. "A Citizen's Guide to the Federal Budget" provides information about the budget and the budget process for the general public. Access the guide for the most current fiscal year presented on the Web site and complete the following requirements:
Required:
a. What percentage of gross domestic product does spending for federal programs represent? What percentage does state and local government spending represent?
b. What was the amount of total receipts? Where did they come from?
c. What was the amount of total outlays? Where did they go?
d. Explain the process used by the government to create a budget.
e. How is the federal budget monitored?
f. What is meant by a budget surplus? A budget deficit?
g. Why is a budget deficit important? A budget surplus?
Near end of 2011, the management of Simid Sports Co., merchandising company, prepared the following estimated balance sheet for December 31, 2011: Simid Sports' single product is bought for $30 per unit and resold for $60 per unit.
Compute the annual breakeven point in dollar and in unit sales for shop 48? Make a CVP graph showing cost and revenue data for shop 48 from zero level activity up to 17,000 pairs of shoes sold in year, what would be shop 48's net operating income o..
Recognize types of responsibility centers as a cost center, a profit center, a revenue center or an investment center.
What is the profitability of Unfocused Books' three departments and what recommendations would you make to the owners?
What are some of the critical assumptions behind Cost-Volume-Profit Analysis and why is CVP typically employed by organizations more often than time value money tools?
What is the break-even point in boxes of candy for the company under the existing situation? What selling price per box must the company charge to cover the 15% increase in the cost of the raw materials i.e., candy, and still maintain the current c..
Hampstead company's order entry department has 20 order entry operators. The cost associated with these 20 operators (salaries, fringe benefits, and supervision, as well as occupancy and equipment costs) is $873,600 per year.
Process Solutions provides a computer-based document processing service
Describe the relationships between fixed and variable costs employed in flexible budget and the differences between static and flexible budgets?
The following information relates to activities in the mixing departments for June: Beginning WIP, June 1, 100,000 pounds. Cost in beginning WIP inventory were as follows:
Gabby's Wedding Cakes creates elaborate wedding cakes. Calculate the break-even point for a month in units. How many cakes must be sold to earn a monthly profit of $10,000?
Funding budget shortfalls As part of your personal budgeting process, you have determined that in each of the next 5 years you will have budget shortfalls.
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