Budgets serve five main purposes; planning‚ facilitating communication and coordination‚ allocating resources‚ controlling profits and operations and evaluating performance and providing incentives. The budgeting process requires both technical and interpersonal leadership skills to achieve each of these purposes effectively. The director’s memo demonstrates several short comings in the budgeting process. The director instituted the “responsibility accounting system” as a means of evaluating performance
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There are many similarities between the short stories "A&P" and "Where are you going‚ Where have you been?" most notably their characters. Both stories contain a female protagonist‚ and a male antagonist‚ whose confrontations start out relatively normal‚ and progress to more and more surreal and twisted endings. Their main characters‚ Sammy and Connie‚ are shockingly similar‚ and yet strangely different‚ one a 15 year old wishing to be older and beautiful‚ the other An eighteen year old boy from
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symptom‚ rather than a cause‚ of the Great Depression.[3][10] Even after the Wall Street Crash of 1929‚ optimism persisted for some time; John D. Rockefeller said that "These are days when many are discouraged. In the 93 years of my life‚ depressions have come
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Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
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Plant overhead $122‚000 D/L rate/hour $30 Youngstown has a traditional cost system. It calculates a plant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. 1. Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability of the four products. The assignment
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Budgets provide a means for planning the financial future and play a vital role for planning. Budgets simultaneously make managers construct and implement plans‚ contribute useful information for improved decision making‚ provide a standard to administer performance evaluation‚ and enhance organization and communication. An essential component of the budgeting system is control. Control periodically takes actual results and budgeted results and compares the two. It also allows for managers to
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Malaria Cause Malaria is caused by the Plasmodium parasite. Symptoms The first symptoms of malaria are like having the flu. You may have: a headache aching muscles a tummy ache‚ diarrhea and vomiting – especially in children a lack of energy loss of appetite a cough Treatment There are three main treatments for Malaria doxycycline – for most adults clindamycin – for most pregnant women and children sulfadoxine with pyrimethamine (Fansidar) Cause of Leukemia For most people with leukemia‚
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The advertising budget of a business is typically a subset of the larger sales budget and‚ within that‚ the marketing budget. Advertising is a part of the sales and marketing effort. Money spent on advertising can also be seen as an investment in building up the business. In order to keep the advertising budget in line with promotional and marketing goals‚ a business owner should start by answering several important questions: 1. Who is the target consumer? Who is interested in purchasing the
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(Master budget preparation) Sopchoppy Company manufactures a red industrial dye. The company is preparing its 2000 master budget and has presented you with the following information. 1. The December 31‚ 1999‚ balance sheet for the company is shown below. SOPCHOPPY COMPANY Balance Sheet December 31‚ 1999 Assets Liabilities and Stockholders’ Equity Cash $ 5‚080 Notes Payable $ 25‚000 Accounts Receivable 26‚500 Accounts Payable 2‚148 Raw Materials Inventory
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and Mr. Chester held a conference meeting to discuss the findings in the cash budget has given the both of them feeling uneasy on specific details of the cash report budget. Mr. Wayne believes that the gross margin perhaps may shrink to 27.5 percent due to higher purchase price and concerned with the impact that this may have on borrowings. This a logical concern as gross margin shrinks amid higher purchasing prices/cost. As stated in Stewart (1987) pricing is a crucial but often misunderstood aspect
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