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you finally graduate and start a job as Junior accountant at Godox Inc. Your manager is responsible for the nationwide distribution of creator design sets. Because of the new social media influence among current generation, the company has grown rapidly, and the prompt growth forces the management team to improve their efficiency and manage their production effectively. You have just been given responsibility for all planning and budgeting of the entire lighting set division. Today is your first day, you...
Explain how budgeting helps management plan and coordinate business activities.Explain at least one potential negative outcome of budgeting.
The following data relate to the operations of Milley Corporation, and wholesale distributor of durable hats with hidden pockets that are popular for adventure travel. The hats are sold in travel boutiques and department stores nationwide. Current assets as of December 31: Cash Accounts Receivable Inventory Buildings and Equipment, net Accounts Payable Common Shares Retained Earnings $6,000 36,000 9,800 110,885 32,550 100,000 30,135 a. The gross margin in 30% of sales. b. Actual and budgeted sales data are as follows: ...
In what ways are public sector budgeting and private sector budgeting different? a) Private budgeting is constrained by a fixed level of resources. b) Public budgeting decisions are motivated by “coverage.” c) Private budgeting decisions are motivated by the profit motive. d) Public budgeting at the national level has no fixed resources constraints e) All of the above.
What is budgeting? (A) Having money left over at the end of the month. (B) A plan made in advance regarding the expenditure of money based on available income. (C) The ability to pay your bills on time. (D) Having enough money to go out to eat.2. Which of the following is an example of a "fixed expense'? (A) Food and groceries. (B) Mortgage or rent payments. (C) Charitable contributions. (D) Gas for your car.3. What is discretionary income? (A)...
i need to help only irr (d)
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Maleeq Enterprise prepares its master budget on a quarterly basis. The following data has been assembled to assist in preparing the master budget for the first quarter: a. As of 31st December, the company’s trial balances showed the following: AccountsDebit (RM)Credit (RM)Cash48,000Accounts Receivable224,000Inventory60,000Premises370,000Accounts payable93,000Common Stock500,000Retained Earnings109,000702,000702,000 b. Actual sales for December and budgeted sales for the next four months are as follows:December (actual)RM 280,000JanuaryRM 400,000FebruaryRM 600,000MarchRM 300,000AprilRM 200,000 c. Sales are 20% for cash and 80% on credit. All payments on credit...