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Question 1
Sue, Grabbit & Runne is a firm of solicitors.There are three partners, Anne, Mary and Jane.There is a partnership agreement which states that each partner may enter into contracts worth up to $ 50 000, but that any contract in excess of that amount requires the prior agreement of all partners. Anne and Mary are away at a law conference when Jane sees an advert in the local Law Society Journal for a set of law reports being sold by a local barrister, Tom, who is retiring.The set would cost in excess of $ 100 000 if all the back issues were bought from the publisher, so Jane thinks that the asking price of $ 60 000 is very good, and she agrees to buy them for the firm.She also decides that because she and Mary both did film studies as part of their undergraduate degrees, the firm would make money if it branched out into film-making, and so she buys a movie camera for $ 20 000 from Edgar.
When Anne and Mary return from the conference they are furious to find out what Jane has done and refuse to authorise payment for the law reports and the camera from the firm's bank account. Advise Tom and Edgar as to their legal position, citing relevant law.
Determine the contribution margin for this practice. Determine the accounting break even point in the terms of number of Enrollees. Determine the economic break even point in terms of number of Enrollees.
Determine the variances and the total direct material cost variance, Total direct labor cost variance
George Ltd manufactures two types of coils used in electric motors. The two types are: C20 and D40. They both require plastic and metal. Information for the two products for the month of April is given
The purpose of the study defines what the researcher wants to find out and is found in the introductory section of the research article. Sometimes the purpose contains a research questions.
Describe the reasons a consulting firm might use a normal costing system rather than an actual costing system.
What amount is in the scholarship account just after the 5000 deposit is made on January 1, 2010 - A scholarship fund is started on January 1, 2000 with an initial deposit of 100,000 in an account earning i(2)=.08, with interest credited every June..
Develop an executive summary of your findings in a Microsoft PowerPoint presentation format to present to Executive Management.
You're in the job interview and your possible employer asks you to explain the differences between the flexible and static budget and to explain which you would recommend for the small business and why. How would you respond to this potential empl..
When determining end of period production cost variances, which of the following product costs components will require flexing?
Research the history of procedure costing in the United States. When did it begin to be employed in manufacturing companies? What sort of company would employ a process costing system?
A company has fixed costs of $5000. Sales for 600 units have been made. The budgeted unit details are-What is the cost of the materials used in process 2 during the month?
Write a memo in 3 pages to the budget managers in an organization, assuming you are the CEO. Your memo should direct budget managers not to utilize this approach, but also offer a logical rationale, and perhaps an alternative solution.
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