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Questions -
Q1. A firm feels that its credit costs are too high. By tightening its credit standards, bad debts will fall from 5% to 2%. However, sales will fall from P100,000 to P90,000 per year. The variable cost per unit is 60% of sales price, and the average investment in receivable is expected to remain unchanged. The effective tax rate is 30%. Compute the net benefit (or cost) if the firm tightens its credit standards.
Q2. A company received a line of credit from its bank. The stated interest rate is 12%, deducted in advance. The line of credit agreement requires that an amount equal to 20% of the loan be deposited into a compensating balance account. On March 1, the company drew down the entire amount of the loan and received the proceeds of P340,000. How much is the principal amount of the loan?
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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