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Questions -
1. What is the difference between a cost center and a profit center? Give a complete answer that demonstrates what critical element distinguishes the profit center from the cost center.
2. Describe the difference between a centralized and a decentralized management style.
3. What is the difference between traceable costs and common costs?
4. What are the four segments of a traditional balanced scorecard?
5. Annapolis Company completes job #601 which has a standard of 510 labor hours at a standard rate of $19.30 per hour. The job was completed in 510 hours and the average actual labor rate was $18.30 per hour. What is the labor rate variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.
6. Annapolis Company completes job #601 which has a standard of 590 labor hours at a standard rate of $19.80 per hour. The job was completed in 560 hours and the average actual labor rate was $19.70 per hour. What is the labor efficiency (quantity) variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.
on january 2nd premier sales borrows 13500 cas on a note payable from trusted lenders with terms 90 days 12. premier
1 Prepare an income statement, statement of chan ges in owners' equity and balance hoaefofef month ended 30 November 2013. Use a separate column for each partner in the statemE4 changes in owners' equity.
Company X has budgeted annual fixed costs of $240,000 and an estimated variable cost ratio of 60%.
entriesThe bank made an error by deducting $990 to your account that was not one of your cheques. Prepare a bank reconciliation AND necessary journal entries
If an asset costs 240,000 and is expected to have a 40,000 salvage value at the end of its ten-year lief, the cash payback period is
Assume, would you choose a FIFO or weighted average cost flow assumption? Explain, using an example to support your answer.
Fair value of ?1,200,000 as settlement of his interest in the partnership. The entry in the partnership's books to record the retirement of C includes
1. The primary measurement basis currently used to value assets in external financial statements of an enterprise is the
Elizabeth Pharmaceutical produces several medicines.
Moon Hardware is planning to factor some of its receivables. The cash received will be used to pay for inventory purchases. The factor has indicated that it will require "recourse" on the sold receivables. Explain to the controller of Moon Hardwar..
Benny's Bakery has paid $12000 of total dividends in the current year. How much is in arrears at the end of the current year
Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows.
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