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Budget of the United States government: The Office of Management and Budget provides access to the budget of the United States government at its Web site: www.gpoaccess.gov/usbudget/citizensguide.html. "A Citizen's Guide to the Federal Budget" provides information about the budget and the budget process for the general public. Access the guide for the most current fiscal year presented on the Web site and complete the following requirements:
Required:
a. What percentage of gross domestic product does spending for federal programs represent? What percentage does state and local government spending represent?
b. What was the amount of total receipts? Where did they come from?
c. What was the amount of total outlays? Where did they go?
d. Explain the process used by the government to create a budget.
e. How is the federal budget monitored?
f. What is meant by a budget surplus? A budget deficit?
g. Why is a budget deficit important? A budget surplus?
Factors which must be taken in account when making decisions regarding price, such as any change in risk involved in cost-volume-profit structure; the link between short- and long-run prices
Prepare a master budget for the three-month period.
Develop a value chain for the airline industry
Which if the following statements are correct?
Nashville Corporation allocates administrative costs on the basis of staff hours. Short-run monthly usage and long-run monthly usage of the staff hours for Operating Departments 1 and 2 follow.
Your CFO, in her initial work, needs to decide whether to set up a job order costing system or a process type costing system. She has asked you to make a recommendation based on the following information.
Funding budget shortfalls As part of your personal budgeting process, you have determined that in each of the next 5 years you will have budget shortfalls.
What is the profitability of Unfocused Books' three departments and what recommendations would you make to the owners?
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is $2,740,000 based on a sales volume of 270,000 video disks.
What are the corresponding units for direct materials and conversion costs, correspondingly, for June?
Camping for Fun, Inc., produces a variety of camping products on a year-round basis. The best-selling item is a compact portable camping stove made from sheets of rust-free aluminum.
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