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1. Which of the following should a firm use as the standard in assessing production efficiencies: standards based on ideal performance, standards based on attainable performance, or standards based on the average of recent historical performance? Explain.
2. Why does management need to separate direct labor variances into rate and efficiency components?
The year-end 2013 balance sheet of Brandex Inc. listed common stock and other paid-in capital at 1,100,000 and retained earnings at 3,400,000. The next year, retained earnings were listed at 3,700,000. The firm's net income in 2014 was 900,000. There..
In a report for the attention of James Brennan discuss the significance of alternative forms of finance available to him and the importance of the nature of the business entity in the process. Your report should relate to aspects considered in the..
Prepare vertical common-size balance sheets and income statements for both companies.
What are the pros and cons of launching Foxy’s brand in the U.S. market? What distribution strategy would you recommend to Kluger and Orol? Why?
On October 1, Steve's Carpet Service borrows $250,000 from First National Bank on a 3-month, $250,000, 8% note. What entry must Steve's Carpet Service make on December 31 before financial statements are prepared?
“National differences in statutory tax rates are the most obvious yet the least significant determinants of a company’s effective tax burden.” Do you agree? Explain this statement by comparing at least two different countries.
Albert is considering two options for selling land for which he has an adjusted basis of $70,000 and on which there is a mortgage of $100,000. Under the first option, Albert will sell the land for $150,000 with a stipulation in the sales contract tha..
Prepare a statement of owners equity for April - The statement of owner's equity for a proprietorship is similar to the retained earnings statement for a corporation.
What is the growth rate in sales for the past three years and are revenues and expenses growing at the same rate? What was the experience in the past few years?
Bancroft Corporation, a manufacturer of industrial pumps, reports the following results for the year ending January 31, 2010.
Calculate the cash flows for the new crystal jewelry project given the same assumptions in part 2 but considering a 3 year option
Prepare a retained earnings statement for the month ended June 30, 2012 and why is the retained earnings statement prepared before the June 30, 2012 balance sheet?
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