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Costs can be classified into 2 categories, fixed and variable costs. These costs behave differently based on the level of sales volume. Suppose we are running a restaurant and have identified certain costs along with the number of annual training of 1000.
Item:raw material (costs for hamburgers )Total annual cost :650Item : building rentTotal annual cost :9000
Identified with cost item above is fixed and variable and why?What is the cost per unit of each? Suppose we increased our sales volume to 6000 units and then 8000 units the following year ( and are still within the relevant range ), what would be the total annual cost and unit cost of fixed and variable cost?
The corporation sold 1,200 shares of treasury stock for cash at 72 per share. Journalize the treasury stock transactions.
After reviewing its cost structure (variable costs of £7.50 per unit and monthly fixed costs of £60,000) and its potential market, the Forecast Company established what it considered to be a reasonable selling price.
Jillian Architecture Company does custom architectural designs for individuals and corporations. The company employs two assistants, who are paid $30 per hour.
What are the components of a budget? Are they same for every organization? Why or why not? Should every organization forecast its operating budget? Why or why not?
Assume that for the second quarter in row, profits are down at Waterfall division. Division Management budgeted $250,000 in profits for the second quarter but actual results were only $197,000 in profits.
Suppose you have the following hypothetical demand or sales function. Calculate the income elasticity of demand for product X when I= $1,500. How could we classify product X? Is product X a cyclical or noncyclical good?
What are some of the potential problems which might be encountered in changing from a budget to a cost estimation movie making system?
Newroute Manufacturing has been using activity-based costing to determine the cost of produt X-678. One of the activities, "Inspection," ocbcurs just before the product is finished.
Bulkboy Fitness Equipment, Inc. was recently created to produce and sell its "Biception" arm machine. Bulkboy decided to use a standard cost system to record costs related to the production of this product.
Procter & Gamble Company is a Cincinnati-based company that produces household products under brand names such as Gillette, Bounty, Crest, Folgers, and Tide. The company's 2006 income statement showed the following (in millions):
What are the roles of individuals in the above scenarios? Are they managers, leaders, or both? What distinguishes management from the leadership and managers from leaders? The nature of relationship between leadership and management remains a top..
Write down in four-pages in which you describe The Public Budget Cycle in government agency of choice. Describe phases of budget cycle (preparation and submission, approval, execution and audit and evaluation) and how this relates to the entire or..
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