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LMN Pty Ltd is a new company with an interesting new service that shows great potential. However, the company needs more long-term ?nance to grow. Its founder, Harpreet, is an expert in her area but she knows very little about business. She is currently the only shareholder of the company and has no family or friends that could provide further financing.
Problem 1: You have been asked to meet her on a video call to explain sources of long-term ?nancing. You have decided to keep it simple and explain the difference between debt and equity, and provide an example of each that would apply to a start-up business such as LMN.
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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