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Budgeting is an important internal activity. Preparing budgets involve forecasting sales and estimating costs. For this assignment, you will prepare a flexible budget for next year for Starbucks. The budget needs to be realistic and based on corporate and economic trends.
Companies prepare budgets based on absorption and/or variable costing. Due to lack of information, we're limiting our budgeting to the absorption approach. Don't forget that the presentation of the information is important.
Set up the flexible budget showing three different growth rates. Use the financial statements and do research on the company of your choice to determine growth trends. Explain your estimates and prepare a flexible budget showing the low, the average, and the high revenues and adjust all other line items in the income statement to reflect the revised revenue assumptions.
Discuss the implications of the information after you have completed the flexible budget.
General government revenues for the year were $800,000 with an overall increase in the city's net assets of $150,000.
Record the second acquisition of McKenzie stock.
a. Determine the budgeted factory overhead rate based on direct labor-hours. b. What is the applied overhead based on direct labor-hours? c. Is overhead overapplied or underapplied and by how much?
Evaluate the inventory turnover ratio for 2010 by using the LIFO and FIFO cost-flow assumption methods.
Balance sheet format: Selected financial statement information and additional data for Johnston Enterprises is presented below. Prepare a statement of cash flows for the year ending December 31,2010,
Costs can be classified into two categories, fixed and variable costs. These costs behave differently based on the level of sales volumes. Suppose we are running a restaurant and have identified certain costs along with the number of annual units ..
When moving from the changes in fund balances in the Statement of Revenues, Expenditures and Changes in Fund Balances to the changes in net assets in the Statement of Activities, what will be the adjustment?
Jane's travel budget for October was $330, based on her plan to drive 1,500 miles at a cost of $0.22 per mile. During October, she actually drove 1,250 miles at a cost of $290. A flexed budget performance report would show a variance of:
How would the receipt of the grants be reported on the statement of cash flows for the Water and Wastewater Enterprise Fund and the Cable Enterprise Fund, respectively?
The hockory Cabinet and furniture Company makes chairs. The fixed cost per month of making chairs is $7,500, and the variable cot per chair is $40. Price is related to demand according to the following linear equation.
What amount should White report as Cost of Goods Sold in the 2011 income statement?
The appraised value of the property is 490,000 and of the warehouse is 980000. Prepare the entry by cheng for the receipts of the properties.
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