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In the past weeks, you have been introduced to a myriad of ideas and tools to help you be a more effective decision-maker and manager. Understanding what tools are at your disposal as a manager can help ensure that you are able to make informed, reasoned financial decisions as you seek to improve and grow your business. As you reach the end of Managerial Accounting, take a few moments to reflect on the concepts covered, how these concepts are used in the business world, and how you can use them in the future.Based on your experiences respond to the following:
What topic (concept) did you find most interesting in the course?
What application (example/analysis) in the course did you think was most useful to you and your professional goals?
Last week, the articles in the Resources focused on Mickey Drexler and creating a demand for high end products by limiting production. Are there ethical issues associated with limiting supply to create "demand frenzy"-i.e., Nintendo Wii, Cabbage Patch dolls, etc.?
Post a brief statement that expresses your thoughts on marketing premium products. The length of your response(s) should be a minimum of 150 words.
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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