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    Distributing a bonus pool

    Distributing a bonus pool Four broad approaches to distributing the proceeds of a bonus pool in a profit- sharing plan are listed below: 1. Each person's share is based on salary 2. Each person receives an equal share 3. Each person's share is based on position in the organization (larger payments to people at higher le

    FASB and the GASB

    Please compare and contrast the FASB and the GASB. Provide references .

    P17-34 Actual and Predetermined Overhead Rates Allison's Engines

    Allison's Engines -- the month, the following events occurred: Materials costing $6,500 were purchased on account. Direct materials costing $3,000 were placed in process. A total of 380 direct labor hours was charged to individual jobs at a rate of $15 per hour. Overhead costs for the month of January were as follow:

    Short and long term objectives

    What is the difference among strategic, long-term, and short-term objectives? What is the relationship between objectives and goals? What are examples of this relationship?

    Unsuccessful interview of a perpetrator

    Identify and discuss three items that could cause a perpetrator or informant's interview to be unsuccessful. Prior to the interview, how can the forensic accountant properly plan so these three items are not negative factors?

    New machinery was installed to replace a number of employees

    New machinery was installed to replace a number of employees, who were paid an extra month's wages and dismissed. This amount was added to the cost of the machinery. Discuss the propriety of the charge. If it was improper, describe the proper treatment.

    Cost Accounting

    Yellow Industries decides to price delivery service according to the results of a recent activity-based costing (ABC) study. The study indicates Yellow should charge $8 per order, 2% of the order's value for general delivery costs, $1.25 per item, and $30 for delivery. A year later, Yellow collected the following information fo

    comparing costs using ABC with the plantwide overhead rate

    The following data are for the two products produced by Aplan Company. Product A Product B Direct materials $ 15 per unit $ 24 per unit Direct labor hours 0.3 DLH per unit 1.6 DLH per unit Machine hours 0.1 MH per unit 1.2 MH per unit Batches 125 batches 225 batches Volume 10,000 units 2,000 units Engineering modificat

    ABC System

    Aunt Ethel's Fancy Cookie Company manufactures and sells three flavors of cookies: Macaroon, Sugar, and Buttercream. The batch size for the cookies is limited to 1,000 cookies based on the size of the ovens and cookie molds owned by the company. Macaroon Sugar Buttercream Projected sales in units

    monopolist output, charges, and profit-maximization

    In the following table are demand and cost data for a pure monopolist. Complete the table by filling in the columns for total revenue, marginal revenue, and marginal cost. Answer these three questions: (a) What output will the monopolist produce? (b) What price will the monopolist charge? (c) What total prof

    Indexing of Tax Exemptions

    Each year the I.R.S. adjusts the value of an exemption based on inflation (and rounded to the nearest $50). In a recent year if the exemption was worth $3,100 and inflation was 4.7%, what would be the amount of the exemption for the upcoming tax year?

    This posting addresses taxable income.

    Thomas Franklin arrived at the following tax information: Gross salary, $46,660 Interest earnings, $225 Dividend income, $80 One personal exemption, $3,400 Itemized deductions, $7,820 Adjustments to income, $1,150 What amount would Thomas report as taxable income?

    Differences between short term and long term objectives

    1. You're right that short-term objectives and long-term objectives have different time frames for completion. Should the short-term objectives add up to the long-term objectives? In other words, are the short-term objectives simply steps along the way to achieving the long-term objectives? 2. You've pointed out some importan

    Cost of production and Absorption & Variable Cost

    See attached file. E17-27 Cost of production Report: No beginning inventories Oregon Paper Company produces newsprint paper through a special recycling process using scrap paper products. Production and cost data for October 2009, the first month of operations for the company's new Portland plant, follow: Units of prod

    accounting concepts

    On Cursor Corporation's balance sheet, a large tract of company-owned land is reported at its original cost of $50,000. The owner of the company is upset, because he thinks the land's true value is ten times that amount. He fears the low-cost figure may hurt the company as it tries to raise additional capital in the future. The

    Four examples of where forensic accounting may be used

    Scenario: SLL has a partner, Dick, who is involved in a nasty divorce. This partner's soon-to-be former wife Georgia had a very successful company. He feels his wife is trying to hide income from him. Dick asks you if a forensic accountant would be helpful in this situation. Report on the following: You do some research

    Accounting: General ledger.

    a) Owner invested $15,000 cash into the business in exchange for its common stock. b)Purchased office furniture costing $6,500 by making a down payment of $2,500 cash, and issuing a note payable for $4,000. c)Purchased supplies for $3,200 cash. d)Recorded fees earned of $5,000 receiving cash for completed work. e)Made a $3,5

    Norr and Caylor: Net Income and Balance

    Norr and Caylor established a partnership on January 1, 2010. Norr invested cash of $100,000 and Caylor invested $30,000 in cash and equipment with a book value of $40,000 and fair value of $50,000. For both partners, the beginning capital balance was to equal the initial investment. Norr and Caylor agreed to the following proce

    Incremental Analysis Net Income

    See the attachment. Benson, Inc. produces three separate products from a common process costing $100,000. Each of the products can be sold at the split-off point or can be processed further and then sold for a higher price. Shown below are cost and selling price data for a recent period. Sales Value at Split-off Point C

    Products and Period Costs Classification

    M17-14 Classification of products and Periods Costs Classify the following costs incurred by a manufacturer of golf clubs as product costs or period costs. Also classify the product costs as direct materials, or conversion costs. a. Depreciation on computer in president's office b. Salaries of legal staff c. Graphite sh

    Need for economics.

    Even if all resources are freely available, will consumers demand things be made more convenient than in their 'raw' form? Would this produce a need for economics?

    forensic accounting

    Identify one category of evidence accumulated during a fraud investigation, and explain what types of items are classified as such. How does the forensic accountant work with the type of evidence you selected? Identify a challenge the accountant faces in dealing with this evidence during the investigation process.

    Accounting Errors/Corrections

    1. Rodney Company's December 31 year-end financial statements contained the following errors: December 31, 2010 December 31, 2011 Ending inventory .......... $4,000 understated $3,600 overstated Depreciation expense ...... 800 understated -- An insurance premium of $3,600 was prepaid in 2010 covering the years 2010,

    Reconciling Pretax Income and Taxable Income

    19-2 (One Temporary Difference, Tracked for 4 Years, One Permanent Difference, Change in Rate) The pretax financial income of Parker-Gregory Company differs from its taxable income throughout each of 4 years as follows. Pretax Taxable Year Financial Income Income Tax Rate 2007 28

    underinvesting and overinvesting, transfer price strategies

    E 12-13 Explain why the senior managers at Quantum have an incentive to overinvest: Explain why senior managers at Aquafinn have incentive to underinvest: P 12-16 Suggest a transfer price for the fabric assuming that the Fabric Division is operating at only 60% capacity due to a surge in popularity of easy care fabri