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Question - Meena has just worked as a chef at the Cokiat Best cafe, which offers & variety of chocolate-based dishes such as chocolate cake, chocolate biscuits, chocolate ice cream, and so on. Due to the deliciousness of chocolate recipes provided by Meena, the cafe reaps high profits. To appreciate his employees, the cafe manager has provided an annual bonus on an equal basis to all employees. However, Meena is not satisfied and said bonuses should be based on individual performance rather than the overall performance of the restaurant.
a) Do you agree with Meena? Explain.
b) Explain two (2) advantages and two (2) disadvantages of providing bonuses equally to all employees.
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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