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Competition Bikes Inc.
Competition Bikes Inc.
Activity based costing versus traditional costing
Mostly it is impossible for a business to identify the accurate cost of product or service. However, for effective decision making, businesses try to attain more accurate costing tools or procedures. The accurate cost of product or service can be calculated ...
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Understanding the Concept of Accounting and Financial Analysis
Introduction1
Discussion1
Section A1
Part A11
Part A23
Part A36
Part A48
Part A510
Section B12
B.1) Journal Entries12
B.2) Journal Ledgers (T. Accounts)14
B.3) Trail Balance of Wan Chai Limited18
B.4) Income Statement of Wan Chai Limited19
B.5) Balance Sheet of Wan Chai Limited20
Conclusion21
References22
Understanding the Concept of Accounting and Financial Analysis
Introduction
Use of accounting ...
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ACCOUNTING
Assignment 1
Assignment 1
Part A
Sales Budget
The Sales Budget:
January
Feb
March
Quarter
Budgeted Sales (units)
73,250
58,600
65,930
197,780
SP/unit
5,700
5,700
5,700
5,700
Total Sales
417,525,000
334,020,000
375,801,000
1,127,346,000
Production Budget
The Production Budget:
January
Feb
March
Quarter
Budgeted Sales (units)
73250
58600
65930
197780
Add: desired ending Inventory
11720
13186
17580
17580
Total needed
84970
71786
83510
215360
Less: Beg. Inventory
46900
11720
13186
46900
Required Production
38070
60066
70324
168460
Expected Cash Collections
January
Feb
March
Quarter
Accounts Receivable 3/31
133608000
133608000
April Sales:
78% X 417525000
$325,669,500.00 $ 325,669,500.00
22% X 417525000
$ 91,855,500.00 $ 91,855,500.00
May Sales:
78% X 334020000
$260,535,600.00 $ 260,535,600.00
22% X 334020000
$ ...
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Management in Accounting
Management in Accounting
a) For Luxury
Step 1
Overhead cost per material dollar
For Setups = $ 3,080,000/ 672,000 = $ 4.58333
For Machine hours
= $ 3,080,000/ 1,848,000= $ 1.666666
For Outgoing shipments
= $ 3.080, 000/ 560,000 = $ 5.5
Step 2
For Setups
$672,000/ 8000 = $ 84
For Machine hours
1,848,000/8000 = $ 231
For ...
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Managerial Accounting Problems
Managerial Accounting Problems
Problem 1 Answer
a) Calculate the cost of materials used.
Beginning Materials Inventory
$5,600
Add: Purchases
$7,400
Subtotal — Materials available
$13,000
Less: Ending Material Inventory
$4,200
Cost of Materials Used
$8,800
(b) Calculate the manufacturing costs incurred during the period.
Direct Material Used
$8,800
Direct Labor
$17,250
Mfg Overhead - 60% of DL
Depreciation on factory equipment
$6,750 ...
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ACCOUNTING ANALYSIS
Assignment 2
Assignment 2
Introduction
In this assignment, a comprehensive ratio analysis has been done in part A. Moreover, the paper has discussed the ratios and the current market share price of the selected company. This paper guides the investors that either to invest in the selected company or not. In the ...
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Evaluating the Effectiveness of the Analytical Tools of the Jordanian Audit Bureau in Detecting Accounting
Evaluating the Effectiveness of the Analytical Tools of the Jordanian Audit Bureau in Detecting Accounting
Introduction
Audit is the examination undertaken by the auditors that the information provided is fairly stated or not (Loughran, 2010). The ...
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Accounting & Financial Analysis of Target Corporation
Accounting & Financial Analysis of Target Corporation
Introduction
The central purpose of accounting and financial analysis is to understand the sources and availability of finance for businesses and skills for making effective financial decision making on the available information. In this essay, the focus would be ...
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Fozziwigs Rubber Chicken Factory Budget
Fozziwigs Rubber Chicken Factory
Introduction
Companies need to deal with various unforeseen events that arise in business transaction. In order to avoid such serious unexpected events, companies utilized different techniques which reduces such scenarios. Considering this, budgeting and forecasting are important parts of scenario planning process and along ...
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FINANCIAL ANALYSIS
Financial Analysis
[Name of the Institute]Abstract
The following paper will be discussing about four firms or four different banks listen in FTSE 100 of London Stock Exchange. This paper will also highlights the profitability analysis of these banks, along with estimating the business risk and analysis of the capital structure of ...