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Problem 1: Student assistants are contracted by AU to do errands, such as arranging and inspecting checked-out books. The need for such service fluctuates during work hours (8AM to 5PM). In the library, the minimum number of students needed is 2 between 8AM and 10AM, 3 between 10:01AM and 11AM, 4 between 11:01 and 1PM, and 3 between 1:01PM and 5PM. Each student is allotted 3 consecutive hours (except for those starting at 3:01, who work for 2 hours, and those who start at 4:01, who work for one hours). Because of their flexible schedule, students can usually report to work at any hour during the work day, except that no student wants to start working at lunch time (12NN). Determine the minimum number of students the library should employ and specify the time of the day at which they should report to work.
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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