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Question 1. Distinguish between controllable and noncontrollable costs. 2. Describe the three types of responsibility centers. 3. Consider the following scenario: You are currently working as the manager of a local Starbucks. You helped develop the current budget for the store and have been doing your best to follow it. Your semiannual evaluation is scheduled in two weeks. You know that a big part of the conversation will be about how the actual numbers are turning out in relation to the budget. As you prepare for the meeting, you think back to your managerial accounting class and the discussion of responsibility centers. Assuming that your store is a profit center, what costs do you think you should be held accountable for (controllable costs)? What costs might you have that you can't control and shouldn't be considered in evaluating your performance? Be specific. Are there any costs that they didn't mention that you think are important? Do you agree/disagree with how they have classified costs as controllable or noncontrollable? Explain your answer.
Discuss the audit risk model, and ascertain which sampling or non-sampling techniques you would use in order to establish your preliminary judgment.
A bank issues a RM 300,000 commercial, If the required nominal APR increases by 45 basis points when the loan is sold, compute the loss that the bank incurs.
If Kingston State University uses the discretionary-cost method to implement cost SBU's, what is the budgeted cost for Student Advising for June?
Crane Ltd. purchased an electric wax melter on April 30, 2020, by trading in its old gas model and paying the balance in cash. Prepare the journal entries
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If inventory original cost is $4,000, estimated selling price is $3,500, estimated selling expense is $200, using the LCM method, inventory is valued at
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Two professional firms agree to amalgamate their practices. The first firm consists of three partners. A, ? and C, who share profits in the tRe-printed.
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