points is 20; each question is worth 1 point. Please clearly indicate one letter answer for each question. To ensure full credit‚ please document the reasoning behind your answer. All submissions are to be made via Ctools. Page 2 of 5 1) The income statement represents a snapshot of account balances at one point in time. a. True b. False 2) A balance sheet is a statement of the financial position of the firm on a given date‚ including its asset holdings‚ liabilities‚ and equity. a. True b. False
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1.0 Introduction NEIMOMA represents “How are you” in Chinese‚ which gives a good impression when the tourists first come to the hotel. NEIHOMA is a 3 stars hotel‚ which is situated on the seafront and a short distance from the main shopping center. The aim of this report is to increase the stars level from 3 to 4 when running the business. The purpose is to analyze the hotels’ actions from year 1 to year 3‚ with data and graphs explanation‚ to measure the overall performance. Firstly‚ this report
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the cost of goods sold until year end‚ and overstating the inventories. The over applied overhead will be recognized at year end by closing it to cost of goods sold. The adjustment for the over applied overhead will result in a big boost in net operating income at year end. Understating direct labor-hours results in artificially inflating the overhead rate‚ which will likely result in overapplied overhead for the year. Shaving 5% off the estimated direct labor-hours
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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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Final Exam A partial listing of costs incurred at Peggs Corporation during September appears below: Direct materials $199‚000 Utilities‚ factory $11‚000 Administrative salaries $83‚000 Indirect labor $29‚000 Sales commissions $37‚000 Depreciation of production equipment $31‚000 Depreciation of administrative equipment $44‚000 Direct labor $81‚000 Advertising $154‚000 02-14-2011 1. award: 4 out of 4.00 points The total of the manufacturing overhead costs listed
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will promote the sale of spawn. By this both spawn unit and mushroom farm will be economically viable. Objective. : (1) To produce 200 spawn bottles of two shift i.e. 5‚000 bottles of spawn assuming 25 working days per month. (2) To create income of Rs. 12‚000/- per month from spawn + Rs. 3‚675 from mushroom farm. REQUIREMENT FOR SPAWN UNIT A. Land and building Four roomed building will be essential to state spawn lab. one room will be used to multiply fungus which is called “inoculation
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manufacture overhead (for $25 to $20) and add an entry called “cost of unused capacity” to the budget income statement. The use of the new method raised some questions about how appropriate it would be and also if it is ethical to manipulate the numbers in the statements. 3. The new method based system will affect net operating income in a negative way. For the same amount of units sold we have $50.000 less income with the new method. 4. The new method based system will make it harder to perform the “hat
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directly to the income statement as an adjustment to cost of goods sold. Favorable variances have the effect of increasing net operating income‚ and unfavorable variances have the effect of decreasing net operating income. Lansing had rigged the standards so that there were always large favorable variances. Company policy was a little vague about when these variances have to be reported on the divisional income statements. While the intent was clearly to recognize variances on the income statement in
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200%. This can be attributed to a growth in popularity as the company attracted nearly 8 million new subscribers‚ which led to $2.1 billion in total revenue as seen on the income statement. Continuing with the same report‚ accounting for the cost of goods sold‚ Netflix had a gross profit of $805 million‚ leading to a net income of roughly $160 million. Looking at the statement of cash flows for the year‚ there are a few major components that stand out. Over the course of the year‚ they bought
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Uploaded By Qasim Mughal http://world-best-free.blogspot.com/ Chapter 12 Segment Reporting‚ Decentralization‚ and the Balanced Scorecard Solutions to Questions 12-1 In a decentralized organization‚ decision-making authority isn’t confined to a few top executives‚ but rather is spread throughout the organization with lower-level managers and other employees empowered to make decisions. 12-2 The benefits of decentralization include: (1) by delegating day-to-day problem solving to lower-level managers
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