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Problem 1: B Squared Inc. manufactures and sells awnings all over the southeastern Philippines. Each region has a sales representative who is paid on commissions. Each salesperson is responsible for checking the credit of customers as part of the sales process. Buddy has been the top salesman for the past 5 years in a row. You have been hired as the new sales manager and after meeting with your sales representatives, there are some questions being raised as to why Buddy is the top salesperson and the legitimacy of some of the sales being reported. What information would you request from the accounting department to help confirm or negate these accusations?
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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