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Describe the relationships between fixed and variable costs employed in flexible budget and the differences between static and flexible budgets? Describe how a flexible budget lends itself to the cost-volume-profit analysis?
Planning strategies for the audit
Recognize three firms from 2009 FSB 100 which need a job-order costing system. Describe why they would most likely employ a job-order costing system.
Create a Consumer Price Index
What is a budget contingency and what are 3 reasons to have such a "safety net" in place? Have you been involved in projects where it was necessary to employ contingency funds?
Needham Company uses normal costing in its job-costing system. Partially completed T-accounts and additional information for Needham for 2008 are as follows:
JungleGym, a best-selling toy has a selling price of $15. If the contribution margin ratio is 40% and if the fixed costs are $60,000, how many JungleGyms must the company sell to realize a profit of $450,000?
What is the effect of target costing and value engineering on the use of variances?
What is the break-even point in boxes of candy for the company under the existing situation? What selling price per box must the company charge to cover the 15% increase in the cost of the raw materials i.e., candy, and still maintain the current c..
Measurement in the context of accounting The diverse measurement methods developed for different kinds of assets propose that standard setters are confused regarding the nature of the attribute which is to be measured
Evaluate the Predetermined Overhead Rate
Kiel Center sells only on credit (no cash sales). Prior collection patterns describe that 28% of month's sales are gathered in the month of sale, 51% are collected in month after the sale, and 19% are collected in second month after the sale.
Ocean Waverunners plans to manufacture 20,000 units, 24,000 units, and 30,000 units, respectively, in October, November, and December. Make a direct-material buys budget for October in parts and dollars.
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