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Question 1: Which of the following performance measurement issue best reflects the following scenario:
An employee focuses on only a few of his important tasks and responsibilities. When asked why, he replied, "Because the other stuff doesn't influence profit, and that's how I get paid!"
a. Controllability
b. Alignment
c. Interdependence
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.
1. Explain the importance of Fannie Mae and Freddie Mac to the housing finance system in the United States.
Boston Galleries uses the specific identification method for inventory valuation. Inventory information for several oil paintings follows.
Prepare journal entries for Pat Corporation to record its acquisition of Saw Corporation, including all allocations to individual asset and liability accounts.
Variable cost is $6, and total fixed costs are $52000, how many units must be sold to earn income of $35000? Oriole, Inc. has a tax rate of 30%.
Business Accounting Questions - Prepare Machinery Account and Provision for Depreciation Account for the year 2016 and 2017
$128,000 in pre-tax income. The contribution margin ratio is 30%. What dollar amount of sales must be achieved to reach the goal if fixed costs are $64,000?
What steps can be taken to loosen the constraint in coating and sharpening - what would be the benefit to the firm of gaining one more hour of production time in coating and sharpening?
Compute the difference in gross margin between the FIFO and LIFO cost flow assumptions.
Compare and contrast the views of management and accountants regarding the changes required by the Sarbanes-Oxley Act on internal controls and how these changes have affected corporations, accounting firms, and investors.
Comprise a brief overview of the case, giving a brief background of the current situation to set the scene for the report and noting any important assumptions
Describe how the selected system would work to track the costs of the product and identify the cost driver, and explain the process of tracking the costs.
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