Like activity budgets, production budgets are necessarily based on assumed levels of efficiency. The idea of a flexible budget is applicable to all three types of budgets. Temporal issues:--Flexible budgets can be used as ex-ante forecasts of total cost for various levels of activity volume. Or they can be used as ex-post standards of the costs that should have been incurred for various levels of activity volume (measured in terms of input, activity, or output levels). Context:--Flexible budgets
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1. | Question : | (TCO 2) A statement that reports inflows and outflows of cash during the accounting period in the categories of operations, investing, and financing, is called a(an): | | | Student Answer: | | Income statement | | | | Statement of retained earnings | | | | Balance sheet | | | | Statement of cash flows | | | | Report of management | | Instructor Explanation: | Chapter 9 | | | | Points Received: | 5 of 5 | | Comments: | this
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Pretzel Haven Inc. Business Plan Student Name ACC 302 November 23, 2013 Teacher name Pretzel Haven Inc. Business Plan Cover Letter Business info Jane Smith USAA 9800 Fredericksburg San Antonio, TX 78288 November 23, 2013 Dear Mrs. Smith, I have prepared a business plan while carefully considering the need of my business as well as how this will be a favorable investment for your bank. I sincerely hope you will examine the business plan with an open mind and consider providing
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trade off of not gaining my twenty five thousand for working the second part of the year is a cost I will encounter and must be added to my total fixed cost. In other words, the twenty five thousand dollars I loose from leaving my job in order run my own business becomes an implicit fixed cost for the first year of running my business giving me a total of 41,000 total fixed costs. In regards to pricing my cookbooks the retail price for the cookbooks will be at $30.00 and the average price of the cookbook
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MKT100 - Metrics Mastery Worksheets Metrics Mastery Worksheets are designed to be in class exercises that your students can work on in class. This is a master document that provides all worksheets questions and answers. You can modify or change it as needed in order to prepare one page two sided exercises for your students to hand out in class. You can also easily turn the answers into powerpoint slides to review the answers in class. Table of Contents Worksheet: Metric 1 Expense Types ....
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In economics, and cost accounting, total cost (TC) describes the total economic cost of production and is made up of variable costs, which vary according to the quantity of a good produced and include inputs such as labor and raw materials, plus fixed costs, which are independent of the quantity of a good produced and include inputs (capital) that cannot be varied in the short term, such as buildings and machinery. TC = FC + VC Average cost equals to total cost divided by the number of goods
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BUSN 319 Marketing Plan for DeVry Restaurant Shop “DEVRY FOODS” Proposed by: Submitted to: TABLE OF CONTENTS COMPANY DESCRIPTION 1 Figure l –Devry Foods________________________________________________________________2 STRATEGY FOCUS & PLAN 2 Mission 2 Goals 3 Core Competency & Competitive Advantage 3 SITUATION ANALYSIS 4 Figure ll SWOT Analysis 4 Industry Analysis 5 Figure lll. Market Analysis 6 Competitor Analysis 6 Company Analysis 6 Customer Analysis 7 MARKET
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a normal profit. B) incurring an economic loss of $600. C) incurring a economic loss of $200. D) earning an economic profit of $200. 6) The figure above shows a perfectly competitive firm. The firm will shut down in the short run if A) total fixed costs exceed $200. B)
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using “averaging”. This is because of his following assumption: • He has assumed that there is just one breakeven point for the firm (by taking the average of the 3 products). • He has also assumed that the sales mix will remain constant. Total revenue and total expenses behave in a linear manner over the relevant range. • Since the capacity is being expanded to increase production of Product C, it could be assumed that this increase should be allocated to this product. Production of Product A is
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MODULE 2, ASSIGNMENT 4 October 22, 2013 Topic: Standard Costing, Variance Analysis and Budgets Overview The main topics for Assignment 4 are standard costing, variance analysis, and budget creation. Accountants of all management levels often have to analyze variance reports in order to help in the decision-making process. Through the differentiation of costs into fixed and variable classifications, managers are better able to construct break-even charts and other decision-making and control
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