ISSUES IN ACCOUNTING EDUCATION Vol. 26‚ No. 4 2011 pp. 797–806 American Accounting Association DOI: 10.2308/iace-50053 Home Heaters: A Holistic View of the Financial Statements M. Cathy Claiborne and Kirkland A. Wilcox ABSTRACT: In this case‚ two start-up companies in the same industry have identical economic transactions. Although both companies follow generally accepted accounting principles (GAAP)‚ each manager makes different choices and estimates when applying GAAP. By preparing
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Finished-goods inventory‚ Dec. 31….. 175‚750 Unadjusted cost of goods sold………………. $ 7‚705‚150 Less: Overapplied overhead…………………. 50‚500 Cost of goods sold……………………………... $ 7‚654‚650 7. No‚ selling and administrative expenses are operating expenses of the firm and are treated as period costs rather than product costs. Such costs are unrelated to manufacturing overhead and cost of goods sold. PROBLEM 3-46 (35 MINUTES) 1. Predetermined overhead rate = budgeted overhead ÷ budgeted
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organization for the last 7 quarters. The single biggest offender of our budget has been corporate travel‚ accounting for more than 20% of the organizational expenses today. Therefore‚ I recommend implementation of restrictions to the travel policy as the best option to reduce organizational cost. Detailed analysis of the travel expenses for the last 7 quarters revealed the following key statistics that laid the basis for my proposal: 1) 82% of the travel was for attending internal company meetings
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Chapter One The first chapter gets the reader acquainted with Mr. Alex Rogo and his apparent problems with his production plant. This is shown through a confrontation between Mr. Rogo and his boss Mr. Peach‚ the Division Vice President. The dispute is over an overdue order #41427. Through their conversation it’s learned that Mr. Peach will not settle for anything less than the order being shipped today‚ and since the plant is neither productive nor profitable‚ Alex has three months to show an improvement
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2013-2014 Standard Level IB Business and Management Internal Assessment Will the acquisition of Tumblr by Yahoo significantly help this former “internet pioneer regain traction with younger internet users”? Word Count: 1438 Candidate Name: Phoebe‚ Leung Ching Lam Candidate Number: 003069-037 Class: F6.CassiaContents Page 1. Introduction The purpose of this essay is to investigate whether the acquisition of Tumblr by Yahoo will significantly help the former Internet pioneer regain
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My Project Sales Projections: Forecasted Weekly Sales Calculation Food average 24.16 Capacity 100 Monday Tuesday Wednesday Thursday Friday Saturday Sunday Total Covers Food Check Ave Beverage Check Ave (85/15) Total Check Ave Average Weekly Revenue Capacity 100 100 100 100 100 100 100 X % Full 50% 60% 65% 70% 80% 80% 50% Occupied Seats 50 60 65 70 80 80 50
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Masters Program in Business Administration (MBA 4 SEM) (Semester II) Note.: 1)Attempt any Four Cases. 2)All Cases carry equal marks. Case NO. 1 ZIP ZAP ZOOM CAR COMPANY Zip Zap Zoom Company Ltd is into manufacturing cars in the small car (800 cc) segment. It was set up 15 years back and since its establishment it has seen a phenomenal growth in both its market and profitability. Its financial statements are shown in Exhibits 1 and 2 respectively. The company
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absorption costing method‚ and why? In this example Polk Company should use the absorption method‚ because the absorption only uses overhead that allocates to the 80‚000 units sold. Whereas the variable method counts the fixed overhead as a period expense‚ the fixed overhead during this period is calculated on 95‚000 units produced‚ when the absorption method is used. The variable method just calculates fixed overhead on 80‚000 units sold. What are the benefits of the two methods? Both systems have
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Unilever has been on the decline. Unilever drastically increased their advertising budget in 2006 likely in an attempt to recapture market share. The tactic worked. As shown below‚ it resulted in recapture of market share for Unilever‚ at the expense of P&G. Figure 1: P&G obviously needs to take some sort of action; they cannot afford to keep losing market share to Unilever. The Korean detergent market is mature with slow growth (see Figure 2). The BCG Product Portfolio Matrix‚ therefore
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SPECIMEN PROFORMA OF PROJECT REPORT I. Particulars of The Enterprise i) Name of the Product(s) ___________Product Code______________________ ii) Name of the Unit and Address ____________________________________ ____________________________________________________________ __ iii) Telephone No. (if any)‚ Office__________________ Factory______________ iv) Name(s) and addresses of the Promoters in Block Letters _________________________________________ v)
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