Pro-profit Colleges It is no secret that a college education has never been more necessary for a decent life in America. Many manufacturing jobs now demand a level of skill and education that virtually requires a college degree. A lot of white-collar employers won’t even consider a job applicant who hasn’t graduated from college. Unfortunately this means that the poor and lower class have no choice but to attain some sort of higher education. This is how For-profit colleges came to existence; originally
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an 18% commission on sales‚ and this commission rate was used when Marston’s management prepared the following budgeted income statement for the upcoming year. Marston Corporation Budgeted Income Statement Sales Cost of goods sold: Variable Fixed Gross margin Selling and administrative expenses: Commissions Fixed advertising expenses Fixed administrative expenses Net operating income $30‚000‚000 $17‚400‚000 2‚800‚000 20‚200‚000 9‚800‚000 5‚400‚000 800‚000 3‚200‚000 9‚400‚000 $400‚000
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August 11‚ 2012 1. Download the Gross Domestic Product table from the Bureau of Economic Analysis’ site and paste it into your answer. (5 points) Table 1.1.5. Gross Domestic Product [Billions of dollars] Seasonally adjusted at annual rates Last Revised on: July 27‚ 2012 - Next Release Date August 29‚ 2012 Line||2010||||2011||||2012|| ||I|II|III|IV|I|II|III|IV|I|II| 1|Gross domestic product|14‚270.3|14‚413.5|14‚576.0|14‚735.9|14‚814.9|15‚003.6|15
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estimated percentage completion on the ending inventory to be increased over 25% so that the cost of the goods sold will appear to be lower that reality and will be mistaken as a cost of completion. This will consequently bump up the profit estimates to the target profits‚ as Thad wants. --------------------------------------------------------------------------------------------------------------------- 3. What percentage completion figure would result in increasing the reported net operating income
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CHAPTER 24 PROBLEMS AND CASE PROBLEM 24-1 Annual Budget $18‚000 Gasoline Oil‚ minor 5‚626 repairs .. Outside repairs 4‚500 Insurance 28‚000 Salaries & 90‚000 benefits Depreciation 66‚000 202‚125 Total miles 375‚000 Cost per mile $0.539 No. of Cars 15 One-Month Budget 1‚500 April Varianc Actual e 1‚720 220 469 550 81 375 1‚500 495 1‚600 120 100 7‚500 7‚500 5‚500 16‚844 31‚250 $0.539 15 5‚867 17‚732 35‚000 $0.507 16 367 888 Required: Employing flexible budgeting techniques‚
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2007 The key points underpinning the economics of a profit maximizing firm Neoclassical model of the firm states that organization will have the main objective of maximizing its profit within a given period of time. Maximum profit was achieved at the output at which marginal cost is equal marginal revenue. There are several factors which need to be considered when talking about the profit maximizing firm: 1. The assumption of the profit maximizing firm is that there is no segregation between
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the long run‚ perfect competitive firms only earn normal profit. This is due to the easy entry and exit of firms into the market. Easy entry is mean that a new firm can easily enter the market if it established supernormal profit in the short run‚ new firms enter the industry and this increase the supply of the product. As result‚ the price falls and reduces the profit. New firms will continue to venture into this business until the profit reach zero. Easy exit is mean that some of the existing
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Ethics; Predetermined Overhead Rate and Capacity Pat Miranda‚ the new controller of Vault Hard Drives‚ Inc.‚ has just returned from a seminar on the choice of the activity level in the predetermined overhead rate. Even though the subject did not sound exciting at first‚ she found that there were some important ideas presented that should get a hearing at her company. After returning from the seminar‚ she arranged a meeting with the production manager‚ J. Stevens‚ and the assistant production manager
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Case 3-33 (45 minutes) 1. Explain how shaving 5% off the estimated direct labor-hours in the base for the predetermined overhead rate usually results in a big boost in net operating income at the end of the fiscal year. Shaving 5% off the estimated direct labor-hours in the predetermined overhead rate will result in an artificially high overhead rate. The artificially high predetermined overhead rate is likely to result in overapplied overhead for the year. The cumulative effect of overapplying
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poor‚ the second-quarter earnings were slightly better‚ the third-quarter earnings were again slightly better‚ and the fourth quarter always ended with a spectacular performance in which the Home Security Division managed to meet or exceed its target profit for the year. She also was concerned to find letters from the company ’s external auditors to top management warning about an unusual use of standard costs at the Home Security Division. When Ms. Cummins ran across these letters‚ she asked the assistant
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