Cash collected from customers would appear in the operating activities section of a statement of cash flows prepared using the ____________________ method
Fill in the blank(s) with correct word
direct
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A firm’s process strategy is the ______.
A. strategy a firm follows to produce goods and services determined by resource availability B. process used to allocate resources between a conglomerate’s different businesses C. strategy used to facilitate the choice between rebate coupons and advertising to promote sales D. strategy used to be in compliance with government regulations
Bonanza Enterprises provides consulting services and uses a job-order system to accumulate the cost of client projects. Traceable costs are charged directly to individual clients; in contrast, other costs incurred by Bonanza , but not identifiable with specific clients, are charged to jobs by using a predetermined overhead application rate. Clients are billed for directly chargeable costs, overhead, and a markup. Bonanza anticipates the following costs for the upcoming year:?CostPercentage of Cost Directly Traceable to ClientsProfessional staff salaries$5,000,000 80 %Administrative support staff600,00050 Travel200,00080Other Operating costs200,00020Total$6,000,000?Bonanza's partners desire to make a $480,000 profit for the firm and plan to add a percentage markup on total cost
to achieve that figure.On May 14, Bonanza completed work on a project for Laramie Manufacturing. The following costs were incurred: professional staff salaries, $68,000; administrative support staff, $8,900; travel, $10,500; and other operating costs, $2,600.Required: A. Determine Bonanza's total traceable costs for the upcoming year and the firm's total anticipated overhead.B. Calculate the predetermined overhead rate. The rate is based on total costs traceable to client jobs.C. What percentage of total cost will Bonanza add to each job to achieve its profit target?D. Determine the total cost of the Laramie Manufacturing project. How much would Laramie be billed for services performed? What will be an ideal response?
The use of information technology (e.g., email) has increased in recent years in many organizations. This has helped to
A. communicate information efficiently. B. restrict social network growth. C. create smaller social networks. D. make more effective use of time in every situation.
The advantages of holding companies include ________.
A) reduced federal corporate taxes due to the holding company status B) decreased risk resulting from the leverage effect C) possible state tax benefits realized by each subsidiary in its state of incorporation D) low cost of administration