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Budgeting is an important internal activity. Preparing budgets involve forecasting sales and estimating costs. For this SLP, you will prepare a flexible budget for next year for the company of your choice. 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 at three levels - minimum, average and high revenues. 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.
What is the growth rate in sales for the past three years? Are revenues and expenses growing at the same rate? What was the experience in the past few years? What is the current growth rate in the economy? How are the competitiors doing? Current interest rates and tax burdens.
Compute Welch's gross pay, payroll deductions, and net pay for the full year 2012. Round all amounts to the nearest dollar. Compute United's total 2012 payroll expense for Welch.
During 20x8, Voss declared and paid dividends of $80,000 on its common stock. Net income for 20x8 amounted to $500,000. The earnings per share (rounded to the nearest cent) for 20x8 are
Charles River Company has just sold a bond issue with 10 warrants attached. The bonds have a 20-year maturity, an annual coupon rate of 12.0 percent, and they sold at their $1,000 par value.
Compute the following variances and indicate whether the variance is favorable or unfavorable. 1. Direct material price variance, Direct materials quantity variance, Direct labor price variance, Direct labor quantity variance
Identify two ways to finance the remaining $20,000 you will need, so you can pay all of the liabilities when they are due.
Fulfil all required journal entries for each of the long-term activities, which took place during 20x7. Keep in mind to account for the appropriate depreciation expense for the year on any of the long-term assets.
Compute the depreciation for each of the three years, assuming the use of units-of-production depreciation.
What would be the effect of this purchase on income before income taxes? (Leave no cells blank - be certain to select "No effect" wherever required. Omit the "tiny_mce_markerquot; sign in your response.)
In each of the following independent situation, determine the corporation's income tax liability. Assume that all corporations use a calendar year for tax purposes and that the tax year involved is 2011.
Define planning, organizing, and controlling and then explain why the phases of planning, organizing, and controlling are referred to as a continuous cycle?
Risk aversion implies which some securities will go unpurchased in market even if a large risk premium is paid to investors.
Griffith Company started its production operations on July 1. During July, the silk-screening department completed 15,600 units. There were 2,400 units in ending inventory which were 75% complete with respect to materials and 20% complete with res..
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