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gizmo_the_mogwai [7]
3 years ago
10

In a company with different business units, individual managers make decisions by changing various assumptions of its budget in

order to determine how the modifications would affect the operational and financial results. This is an example of ________.
Business
1 answer:
VARVARA [1.3K]3 years ago
8 0

Answer: Control and Evaluation

Explanation: Managers are responsible for ensure that the budgeted goals are met, the control phase in the budget is the one where the heads of each department adopt the appropriate measures in cases of diversion and through the management reports, the finance department evaluate and inform to the company's shareholders how the results are going.

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If profit is more than $10000 when fixed costs are $5000 and the price when producing 1000 units is $75, then variable cost is?
stira [4]
75/1000= $0.075 per unit or variable
3 0
3 years ago
During December, Far West Services makes a $4,200 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.
Lina20 [59]

Answer

Debit Accounts receivable   $4,200

Credit Revenue account       $3,870.97

Credit State Sales tax payable        $232.26

Credit local Sales tax payable         $96.77

Explanation:

When revenue is earned but cash is yet to be received and sales tax are to be accounted for at 8.5%, the entries required are;

Debit Accounts receivable   108.5%

Credit Revenue account       100%

Credit Sales tax payable         8.5%

Given that the sales tax amount is in addition to the credit sale amount, let the sales revenue be R

6% * R + 2.5% * R + R = $4,200

1.085R = $4200

R = $3870.97

States tax = 6% * $3870.97

=$232.26

Local tax = 2.5% * $3870.97

= $96.77

5 0
3 years ago
Portions of the financial statements for Software Associates are provided below. SOFTWARE ASSOCIATES Income Statement For the ye
charle [14.2K]

Answer:

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $78,000

Adjustment made:

Add : Depreciation expense $33,000

Add: Decrease in accounts receivable $10,000

Add: Decrease in inventory $13,000

Add: Increase in accounts payable $7,000

Less: Decrease in salaries payable -$4,000

Add: Increase in income tax payable $8,000

Less: Increase in prepaid rent -$3,000

Total of Adjustments $64,000

Net Cash flow from Operating activities                   $142,000

7 0
3 years ago
Nichols Inc. is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IR
PolarNik [594]

Answer:

a. 9.43%

Explanation:

IRR is the rate of return that makes initial investment equal to present value of cash inflows

Initial investment = Annuity*[1 - 1 /(1 + r)^n] /r

1250 = 325 * [1 - 1 / (1 + r)^5] /r

Using trial and error method, i.e., after trying various values for R, lets try R as 9.43%

1250 = 325 * [1 - 1 / (1 + 0.0943)5] /0.0943

1250 = 325 * 3.846639

1250 = 1,250

Therefore, The project IRR is 9.43%

3 0
3 years ago
Internal controls are designed to accomplish five objectives that include compliance with legal​ requirements, promote operation
Ira Lisetskai [31]

Answer:

<u>Ensure accurate reliable accounting records</u>

Explanation:

Internal controls refer to those processes and procedures employed by the management of an entity so as to ensure efficient operations and to keep a check on frauds and compliance with better reporting requirements.

For example, biometric system of recording employee attendance which keeps a check as in who is actually on payroll and elimination of any dummy entries from the records.

The purpose of internal control is to safeguard assets, ensure that employees adhere by company policies, compliance with the law, promote operational efficiency and ensure reliable financial reporting without misrepresentation of facts.

3 0
3 years ago
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