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Question - Situation: Great Experience Theme Park Ltd. operates amusement parks similar to those such as Ontario Wonderland, Six Flags, Universal Studios, Disneyland etc. Great Experience Theme Park's mission is to provide high quality family entertainment that exceed guests' expectations and will create lifelong memories. To achieve this goal, Great Experience Theme Park strives to provide safe, clean, friendly family environments at reasonable prices.
In addition to the amusement parks, the company operates a community outreach program. Through volunteerism, it offers educational and recreational programs (e.g. after school programs for children and teenagers, employment related training for adults) and special events at its facilities. The president of the company, Larry De Loop, has asked you to lead a team of employees in developing a balanced scorecard for its parks.
Develop the balanced scorecard for the company president, Larry De Loop. For each of the four main elements of the balanced scored recommend at least three metrics with a brief explanation of how these will assist employees and management to monitor/improve the performance of the firm.
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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