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Problem 1: Suppose that in addition to the change in part a, the unit time tor scheduling a production run decreased from four hours per run to three hours per run. Determine the new total time driven actwiw-based costs assigned to each of the to or products (flavors) and
Question 1: Prepare an income statement similar but also showing the total cost of unused capacity
Product Profit or loss
Vanilla
Chocolate
Strawberry
Mochaalmond
Total
Sales
30000
24000
3960
2800
6076
Direct material
6000
4800
720
520
1204
Direct labour
8750
7000
1050
700
1750
Indirect labour usage
4966.5
3580.5
3888.5
4042.5
1647
Machine Usage
5025
3750
1245
1230
1125
Gross profit/ loss
5258.5
4869.5
-2943.5
-3692.5
349
Gross profit/ loss as a percentage of sales
17.5283
20.3
-74.3
-131.9
5.
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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