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Budgets and Performance Evaluation Goal: Create an Excel spreadsheet to prepare a performance report, and use the results to answer questions about your findings. Scenario: Beta Alpha Psi, the accounting honorary fraternity, has asked you to prepare a performance report about a homecoming party that it recently held. The background data for Beta Alpha Psi%u2019s performance report appears in the Fundamental Assignment Material 1- A2. When you have completed your spreadsheet, answer the following questions:
1. Based on the formatting option used in the exercise, do the negative variances represent amounts that are over or under budget?
2. Which cost/ costs changed because the number of attendees increased?
3. Did the fraternity stay within the budgeted amount for food on a per person basis?
discuss ways in which the company you researched could best use job costing information to design and implement a job costing system
Identify two parties other than O'Conner who can be harmed by this theft. In what ways can they be harmed? Discuss the role accounting plays in this situation. What internal controls could be put in place to prevent this type of theft?
Third purchase $85. If the company sold two units for a total of $240 and used FIFO costing, the gross profit for the period would be?
Calculate the preliminary sample size using a 100% average misstatement assumption.
Discuss the precedential value of the foregoing decisions for your client, who is a California resident
Morales Company issued $800,000 of 8%, 5-year bonds at 106, which pays interest annually. Assuming straight-line amortization, what is the carrying value of the bonds after one year?
Determine the premium expense to be reported in the income statement and the estimated liability for premiums on the balance sheet for 2004 and 2005.
It is estimated that 80% of the coupons will be presented for redemption. Sales for the first period were $700,000, and the coupons redeemed totaled 340,000.
Simona Amanar Industries has two operating divisions-Gina Construction Division and Chorkina Securities Division. Each division maintains its own accounting system and method of revenue recognition.
Record the following transactions of a company in a general journal form: Reacquired 8,000 of its own $10 par value common stock at $40 cash per share. The stock was originally issued at $15 per share.
jake marley owner of marley wholesale is negotiating with the bank for a 200000 90 -day 12 percent loan effective july
Required: prepare the consignment account in the books of consigner.
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