Acc 349

This year, the NASA Rubber’s estimated annual total fixed cost was $44,625,000 and the annual demonstrated plant capacity was 85000 tonnes. Thus, the standard fixed cost per ton for 1986 was = $ 44, 625/ [85,000 * (9/12)] = $ 700/ ton.

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I had a bit of difficulty trying to remember the different types of variances. As the variances are all the something cost of something - the something cost of something else - if you know what I mean, there are 4 things to remember for each variance I am using acronyms to remember what stays the same on both rows and then I can fill in the blanks:

Gross profit ratio had been declining through the period of 2008-2010, which indicates decrease of markup that the company achieved on its inventory, which also means that it lowered sales prices compared to costs.

Since the majority of US thrive on the use of credit cards, the accounts receivables for a company may no longer be on a cash-to-cash basis. A company may need to sell these accounts to other companies who specialize in handling accounts receivables if they need cash more quickly or if it would be too costly to perform the necessary billing to collect on the account.

She can use Schedule C that is part of the Form 1040 in joint filing. Separate can also mean LLC which does report separately. Tax on the income will be part of their joint return, whether using a Schedule C or LLC.

SFAS No. 87 “Employers’ Accounting for Pensions” maintains that pension information should be prepared on the accrual basis and retained three fundamental aspects of past pension accounting: 1. delaying recognition of certain events, 2. Reporting net cost, and 3. offsetting assets and liabilities” (Schroeder, Clark, & Cathey, "Pensions and Other Postretirement Benefits," 2011). “The components of pension costs reflect different aspects of the benefits earned by employees and the method of financing those benefits by the employer. The following are required to be included in the net pension cost recognized by the employer sponsoring a defined benefits pension plan: 1. Service cost, 2. Interest cost, 3. Return on plan assets, 4. Amortization of unrecognized prior service cost, 5. Amortization of gains and losses, 6. Amortization of the unrecognized net obligation or unrecognized net asset at the date of the initial application of SFAS No. 87” (Schroeder, Clark, & Cathey, "Pensions and Other Postretirement Benefits," 2011).

Through using the IDEA software, I was able to dive deeper into the recorders of Troy Township. I was able to import Troy’s fiscal year transaction data and run multiple analysis on the data. IDEA is an easy-to-use software that took the difficulty out of the sorting and configuring reports that could show exactly what I was looking for. I was able to create many useful reports that helped me get to the bottom of the fraud that I believe was happening at Troy Township. The records I will be evaluating are; a record count report, a material amount report, a highest expenditure report, a day specific report, a Benford’s report, a duplicate report, and a name specific report. All these reports have their own bit of useful information that had led me to the conclusion that fraud is occurring at Troy.

Guillermo Furniture, a company that manufactures midgrade and high-end sofas, has just hired you as an accountant. The owner, Guillermo Navallez, has assigned you the tasks of determining which decisions provide the greatest returns.

The knowledge and understanding that we want for each of the eight categories is as follows:

Answer: a) When the sales force is having relation with the target cost and able to estimate the sale cost then depending on the situation they can make an increment in the sales cost to sell the product.

$1.6 billion / 466 thousand tpy = $3,433 (cost of capital per ton of capacity)

Ron Barber, CPA, is auditing the financial statements of DGF, Inc., a publicly held company. During the course of the audit, Barber discovered that DGF has been making illegal bribes to foreign government officials to obtain business, and he reported the matter to senior management and the board of directors of DGF.

| SpannerWorks receives a tax refund in respect of the 2010 income year. Refund per the return for the year ended 31 March 2010 was $3,600 (net of any UOMI).

The company maintains a minimum cash balance of $50,000. All borrowing is done at the beginning of a month; any repayments are made at the end of a month.