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Access the September 24, 2011, 10-K report for Apple, Inc. (Ticker AAPL), filed on October 26, 2011, from the EDGAR filings at www.sec.gov.
Required:
1. What products are manufactured by Apple?
2. What inventory method does Apple use?
3. Compute its gross margin and gross margin ratio for the 2011 fiscal year. Comment on your computations assume an industry average of 40% for the gross margin ratio.
4. Compute its inventory turnover and days sales in inventory for the year ended September 24, 2011. Comment on your computations assume an industry average of 40 for inventory turnover and 9 for days sales in inventory.
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Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
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.
Complete the schedule to compute the pool rates for the different activities.
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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