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Question - Generally, companies use flexible budgets for different levels of production at different locations. This ordinarily enables the company to respond quickly to uncertain and differing circumstances. On Nucor's website, please read the 2017 Sustainability Report noting items for successful performance.
What do you note on their website that would be indicative that Nucor uses flexible budgets. What is it about Nucor that positions the company to respond well to changing conditions?
What signs or indications did you observe on Nucor's website that they use flexible budgets? Secondarily, share insights relating to Nucor's performance from their 2017 Sustainability Report.
Comment on how Nucor's performance weathered the coronavirus (COVID-19) pandemic.
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
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Prepare a master budget for the three-month period.
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Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
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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.
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