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Contributions of fixed assets may affect more than one type of fund. Discovery Barn, a not-for-profit science center for children, received a contribution of $3 0,000 explicitly designated for the acquisition of computers. During the year, it acquired $21,000 of computers, which it estimated would have a useful life of three years. It is the policy of the organization to charge an entire year's depreciation in the year of acquisition. Prepare all required journal entries, being certain to indicate the type of fund in which each entry would be made.
Prepare a contribution format income statement segmented by divisions, as desired by the president and would you recommend the increased advertising? Show computations to support your answer.
The president asks you to compare the alternatives on a total-annual-cost basis and on a per-unit basis for annual needs of 60,000 units. Which alternative seems more attractive?
Determine the predetermined overhead rate. Determine the amount of overhead applied during the year. Was overhead overapplied or underapplied? How much?
You're interested in developing the budget but are struggling with basics - do the numbers have to be exact? Can a budget have any flexibility in it? First, describe what a budget is.
You've been appointed as an executive director of small nonprofit organization. Among your many duties are to estimate an annual budget and develop a fiscal plan for organization.
How many Grippers must Roseville Medical sell in order to breakeven and how many Grippers must Roseville Medical sell in order to earn a target profit of $500,000?
Evaluate and use quantitative and qualitative information to measure financial and non financial performance of an organisation
Recognize which costing system - job order or process cost - the following companies would use:
For any kind of companies it is important to choose and use the right types of costing system. Costing system is an accounting system uses by companies and organizations to monitor the company's expenditures and overheads
Compare bottom-line financial results of using the fixed budget and flexible budget if volumes (a) increase by 10% or (b) decrease by 10%.
Rebecca meets with the managers of each location each month to review operations results. this meeting, the manager must present a projection of operations for the coming month. Explain how Rebecca utilizes strategic planning.
How do fixed costs create operating leverage? How does operating leverage impact the overall risk level of the company? What is the impact on earnings?
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