CASE 4-33 ACCOUNTING | 15% Commission | 20% Commission | Own Sales Force @ 7.5% | Sales | $ 16‚000‚000 | 100% | $ 16‚000‚000 | 100% | $ 16‚000‚000 | 100% | Variable Expenses: | | | | | | | Manufacturing | $ 7‚200‚000 | | $ 7‚200‚000 | | $ 7‚200‚000 | | Commissions | $ 2‚400‚000 | | $ 3‚200‚000 | | $ 1‚200‚000 | | Total Variable Expenses | $ 9‚600‚000 | 60% | $ 10‚400‚000 | 65% | $ 8‚400‚000 | 52.5% | Contribution
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1.Temblador Corporation purchased a machine 7 years ago for 319‚000 when it launched product E26T. Unfortunately‚ this machine has broken down and cannot be repaired. The machine could be replaced by a new model 330 machine costing 323‚000 or by a new model 230 machine costing 285‚000. Management has decided to buy the model 230 machine. It has less capacity than the model 330 machine‚ but its capacity is sufficient to continue making product E26T. Management also considered‚ but rejected‚ the alternative
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“certificate of achievement for excellence in financial reporting” by the Government Finance Officers Association? What is the significance of this award? Yes‚ it is significant because it is the highest form of recognition in the area of governmental accounting and financial reporting‚ and its attainment represents a significant accomplishment by a government and its management. (Page 13) b) What are the key issues addressed in the letter of transmittal? Major initiatives in the city of Charlotte
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costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
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following terms used in Note 3: grant date‚ exercise price‚ vesting period‚ expiration date‚ options granted‚ options exercised‚ and options forfeited. b. Note 3 (page 47 of Xilinx’s annual report) indicates that in fiscal 2007‚ Xilinx adopted a new accounting method for its stock options and other stock-based compensation as required by SFAS 123R. How does Xilinx now account for stock options? How does this differ from the method Xilinx used before
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The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
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discussion‚ Congress has the authority to impeach and dismiss the occupants of the other 2 branches. This‚ above all else‚ makes the Legislative Branch‚ undoubtedly‚ the most powerful of the three. 3. What is a policy you think would help address the issue you feel is most critical? A policy I think would help the issue that is most critical‚ which is unemployment‚ is really putting more of an effort into these Americans that are
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Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
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affect the extension’s classification as well as other business factors to extending the lease‚ such as tax implications. If you have any further questions or want to discuss other alternatives with the lease‚ please contact me. Regards‚ -- Accounting Star
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Chapter 2—The External Environment: Opportunities‚ Threats‚ Industry Competition‚ and Competitor Analysis TRUE/FALSE 1. The health-related concerns in the general environment facing Philip Morris International are part of the physical segment. ANS: F PTS: 1 DIF: Medium REF: 36 OBJ: 02-01 TYPE: comprehension NOT: AACSB: Ethical & Legal understanding | Management: Ethical Responsibilities | Dierdorff & Rubin: Managing the task environment 2. The external environment facing business stays relatively
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