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Question 1: You are the New management Accountant of DownTown Micro Ltd, which manufactures a specialized micro chip that enables any ordinary remote control to operate all kinds of televisions. The variable cost of each chip is $25 and the selling price per chip is $40. Due to the entry of a major American player into the U.K. market, this has proven to be quite challenging. The company has an annual fixed cost of $2.5 million, management would like to advise on a break-even output showing your calculations.
Question 2: You are required to discuss budgets and budgetary control to your new head of department who has never thought budgeting was of any kind of importance. Discuss the various functional budgets and discuss the importance of each functional budget and how senior management may use that in support of the development of the organisation. Finally highlight the advantages and the advantages of a budgetary control system.
Identify Couch Potato's exposed assets, exposed liabilities, and net exposed assets under FAS #52. Identify the impact of a 20 percent depreciation of the euro on Couch Potato's consolidated balance sheet.
Recording in the Accounting System Nelson Properties rents a building to Lucky Star on December 1, 2014. Nelson Properties collects $7,500 for three months' rent. Record the $7,500 receipt for rent.
Costs that are used in generating revenues during the current period, but are not involved in the manufacturing process are often referred to as:
What have learned from the unit to give specific examples of where there are advantages and disadvantages to spending, saving, and going into debt
According to GAAP, does Starbucks record the effect of these returned products on its income statement in 2017 or 2018? Briefly explain why
Sales are $1.5 million, cost of goods sold is $600,000, depreciation expense is $150,000, other operating expenses is $300,000, addition to retained earnings is $146,250, dividends per share is $1, tax rate is 30 percent, and number of shares of comm..
Prepare an excel spreadsheet calculating whether this product will satisfy the investment parameters set by Saturn Group global
The appropriate section in the statement of cash flows for reporting the issuance of common stock for cash is:
floatation amount 30000. The debentures are redeemable after 5 years. Calculate before tax and after tax cost of debt assuming a tax rate of 50%
Firm H operates its business in State H, which levies a 6 percent sales and use tax. This year, the firm purchased a $690,000 item of tangible property in State K and paid $20,700 sales tax to the state. Compute the use tax that Firm H owes to State ..
Choose 4 financial markets or institutions. Briefly explain what each specializes in (mortgages, stocks, government securities, etc.).
The interest rate on the bonds, paid quarterly, is 5 percent. Calculate ( a) the amount that the company will actually receive from the sale of the bonds, and ( b) the amount of both the quarterly and the total annual cash interest that the compa..
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