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Question - Lancer Company's summary of it's budget cash flows is given below:
1st Quarter
2nd Quarter
3rd Quarter
4th Quarter
Total receipts
$180,000
$340,000
$230,000
$260,000
Total cash disbursement
$240,000
$270,000
$200,000
$250,000
Beginning cash balance for upcoming fiscal year, $16,000
Minimum cash balance required, $15,000
Interest rate 2% per quarter.
Repay loan at the end of 2nd quarter. Interest is due on any principal at the time it is paid. Interest is not compounded. How much is total cash available for use in the 3rd Quarter?
A. $313,000
B. $355,000
C. $340,000
D. $253,640
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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.
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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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