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Distinguish between controllable and uncontrollable aspects of revenue and costs. Can a manager tototally control all revenue and costs? why or why not? Describe some of the drawbacks of using budgets as a control device
Branwin Corporation sold 7,200 units of its product at a price of $35.60 per unit. Total variable cost per unit is $17.55, consisting of $10.50 in variable production cost and $7.05 in variable selling and administrative cost. Compute contribution..
How might the senior audit manager or partner on a particular engagement determine how much cost is acceptable to incur in order to test a particular area? Can you think of any lower cost alternatives?
For the expenditure cycle at Hewlett-Packard or any other company, what's your suggestion for the following recommendations to have good internal control of the purchase order processing?
Murphy Co. had 200,000 shares outstanding of $10 par common stock on March 30 of the current year. Murphy reacquired 30,000 of those shares at a cost of $15 per share and recorded the transaction using the cost method on April 15.
If Discount Electronics used the specific identification method instead of the FIFO method, what would Bargain's cost of goods sold be if the company wished to maximize earnings?
Wertz Corporation decided at the beginning of 2010 to change from the completed-contract method to the percentage-of-completion method for financial reporting purposes.
When deciding to lease a new cutting machine or continue using the old machine, the following costs are all relevant EXCEPT the:
Determine the equivalent units in process for direct materials and conversion costs, assuming there was no beginning inventory.
Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
Prepare the journal entry to record the exchange on Smith's books, assuming the transaction has commercial substance. Prepare the journal entry to record the exchange on Smith's books, assuming the transaction does not have commercial substance.
Determine whether or not TRIARC'S acquisitions of Wendy's through a stock swap was good for either company and state your rationale?
What is the difference between the auditor's approach in verifying sales returns and allowances and sales? Why is there a difference?
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