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Problem - Many of the front of?ce manager's headaches are caused by the skipper-the guest who departs without paying the bill. However, a dishonest employee can cause even more problems by using this situation as a cover-up. Consider the following situation. A guest checks in and is assigned to an $80 room. The clerk forgets to ask for a mailing address. The following day, the guest, hurrying to catch a flight, runs to the cashier's window, throws down $80 in cash, says "Check me out of 423," and rushes off. The cashier looks at the bill in the ?le and notices that the guest left no address. The cashier reasons that the credit department will never track down the guest, so he pockets the $80 and leaves the bill in the ?le. The next day, room 423 is reported unoccupied. The bill by this time stands at $160 and is charged to skippers. Some hotels make no effort to locate skippers; at any rate, such attempts are usually without success. In this case, even finding the guest will not solve the problem; the guest has no receipt to prove his or her claim that the bill was paid. What steps could be taken to adequately control cash in this situation?
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
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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