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Question - Seneca Cafeteria Operations (SCO) formerly collected from each customer as they reached the end of the food line. A cashier, seated at a cash register, rang up the amount (displayed on a digital screen) and collected the money. Management changed the system, and now a clerk at the end of the line operates a calculator/printer machine and gives each customer a paper tape. The machine accumulates a running total internally. The customer presents the tape at the cash register on the way out and pays. The SCO manager justified the direct cost of $10,000 annually for the added salary and $500 for the new machine by pointing out that 4 more people each weekday (Monday to Friday) and 10 more people on weekends could be served. The food line now moves faster and customers are happier. The average meal costs $12. The total cost of food and service can be considered to be fixed. What is the first year net benefit of the change?
BC Company uses a job order cost accounting system. During the month of April, the following events occurred:
Retained Earnings has an opening balance of $425,000 and the net income for 2020 was $225,000 - Prepare the Shareholders' Equity section of the balance sheet.
Why is it important to distinguish between upstream and downstream sales in the analysis of intercompany profit eliminations
Dolly thinks that a $2 tip would be sufficient and that the other $98 is like "found money." How much should Dolly include in her gross income
Average cost per unit is $1.425 at the 16000 unit level of activity and $1.38 at the 20000 unit level of activity. What is the variable cost per unit
Identify the control principle that you violated, and explain why the accountant reacted so strongly. What controls might be appropriate to use in the future?
What will be the balances in the balance sheet accounts related to the lease at the end of the first year for Crescent (ignore taxes)
Lyon declared dividends of $6,000 on preferred stock and $17,280 on common stock. At the beginning of 2013, 10,000 shares of common stock were outstanding.
What is a 'stereotype'? Define this term, then describe a time that you have witnessed or have been affected by stereotyping. What happened?
Which IT governance is concerned with? policies and procedures helping to align the use of IT and strategy./ controlling the use of IT within the organisation.
Dondee Realty Company owns an apartment building that has an adjusted basis of $740,000, What is Dondee's realized gain or loss on the apartment building
Prepare journal entries to record the purchase, the dividend received and the fair value adjustment of investment in Mantap Bhd
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