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Case: As current or future managers each of us will face issues that are applicable to the businesses in which we work and the stages at which we are in our careers. For this discussion, I would like the everyone to research a managerial accounting-related issue that is either relevant to me (student) in my current position or that I find of interest and that might be relevant to a CEO of a major sports company. This issue might also be relevant to your fellow learners. For this, restrict the responses to technical application of managerial accounting concepts (e.g., do NOT choose ethics as it impacts managerial accounting). For ideas, we may perform some online web searches or consider looking at topics presented in the textbook for which we can obtain additional information or translate to application.
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
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.
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
Calculate the GDP in Income Approach and Expenditure Approach
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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