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ACCT 260 Governmental and Non-Profit Accounting book Reck, Jacqueline. McGraw-Hill Higher Education. Kindle Edition CPA Questions:
Question 1: A government contributes $20,000 to its pension plan for year 1. The actuarially-determined annual required contribution for year 1 was $27,000. The pension plan paid benefits of $16,400 and refunded employee contributions of $1,600 for year 1. What is the pension expenditure for the general fund for year 1?
Option a: $16,400
Option b: $27,000
Option c: $20,000
Option d: $18,000
Question 2: A primary government would report each of the following categories in its government-wide statement of net position except
Option a: Component units
Option b: Business-type activities
Option c: Governmental activities
Option d: Agency activities
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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.
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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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