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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):
Net Sales: $68,222Costs of Products Sold: $33,125Selling, General, and Administrative Expense: 21,848Operating Income: 13,249
Suppose that the cost of products sold is the only variable cost; selling, general, and administrative expenses are fixed with respect to sales. Assume that Procter & Gamble had a 10% increase in sales in 2007 and that there was no change in costs except for increases associated with the higher volume of sales.
Compute the predicted 2007 operating income for Procter & Gamble and its percentage increase. Explain why the percentage increase in income differs from the percentage increase in sales.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
What would you include in a job description for a new cashier? How about a sales person? What is included on your job description? Are there functions you perform that are not in your job description?
Describe the similarities and differences between job order cost and process cost systems.
Find out the value for the manager in conducting a cost-volume-profit analysis.
Prepare general journal entries in general journal form
Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is $2,740,000 based on a sales volume of 270,000 video disks.
Select one acquisition the company has undertaken during recent history and explain details of the deal. About the merger and acquisition activity of the Coca Cola
Camping for Fun, Inc., produces a variety of camping products on a year-round basis. The best-selling item is a compact portable camping stove made from sheets of rust-free aluminum.
City of Joseph Commercial Bank hired consultants to compute the costs of three products: checking accounts, personal loans, and the Gold visa card. The consultant identified the following activities, costs and activity drivers (annual data):
What is a service or product in McDonald's which can employ activity based costing? What are three activities for activity based costing and the correct cost drivers for them? Give an estimate for application rates of these drivers.
Record the preceding events in a horizontal statements model. In the cash flows column, designate the cash flow as operating activities (OA), investing activities (IA), or financing actives (FA)
Define and describe activity based costing. Also employ some real-life examples of how companies implement this management tool. Offer some comparisons and contrasts and pros and cons from different stand points on this topic.
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