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Lan and Mai are studentsat Accounting and Auditing Faculty. After completing Accounting Unit, they are now able to prepare financial statement and discussing about the figures on financial report. Mai said, "all the figures on financial statement are definitely reliable because accountants have to adhere with strict code of ethics, integrity standards, andset ofaccounting rules and standards such as IFRS when preparing the report". Do you agree or disagree with Mai's statement? Provide explanation and real-life examples(cases) to justify your opinion.

Discuss the factors that should be considered in selecting a base to he used in computing the predetermined overhead rate.

Record the sale of the used machine for $15,000 cash.

Tharaldson Corporation makes a product with the following standard costs:

The company reported the following results concerning this product in June.

The company applies variable overhead on the basis of direct labor hours. The direct material purchases variance is computed when the materials are purchased .

The materials quantity variance for June is: 

Prepare a cash budget for Atlas Products, Inc. for the first year of 20X2, based on

the following information.

 The budgeting section of the corporate finance department of Atlas Products

has received the following sales estimates from the marketing department:

Total Sales Credit Sales

December 20X1 $825,000 $770,000

January 20X2 730,000 690,000

February 20X2 840,000 780,000

March 20X2 920,000 855,000

The company has found that, on average, about 25 percent of its credit sales are

collected during the month when the sale is made, and the remaining 75 percent of credit

sales are collected during the month following the sale. As a result, the company uses these

figures for budgeting.

 The company estimates its purchases at 60 percent of next month’s sales, and payment

for those purchases are budgeted to lag the purchases by 1 month.

 Various disbursements have been estimated as follows:

January February March

Wages and salaries $250,000 $290,000 $290,000

Rent 27,000 27,000 27,000

Other expenses 10,000 12,000 14,000

 In addition, a tax payment of $105,000 is due on January 15, and $40,000 in dividends will

be declared in January and paid in March. Also, the company has ordered a $75,000 piece

of equipment. Delivery is scheduled for early January; and payment will be due in February.

 The company’s projected cash balance at the beginning of January is $100,000, and the

company desires to maintain a balance of $100,000 at the end of each month.

nator group is establishing a factory in new south wale, australia. fixed monthly expenses are factory rent ($9,004), depreciation on factory machine ($2,004), utilities ($1,704), telephone bills ($1,504), a connection with an online service ($3,004), and the salary of a worker ($5,504). variable costs include payments to the marketer planning (11% of revenue), administration expense (10% of revenue), supplies (5% of revenue), and usage fees for the telephone lines and water bill at office(10% of revenue). requirements

1. apply the contribution margin ratio approach to calculate nator group breakeven revenue in dollars. if the average service leads to $1,500 in revenue per service for nator group, how many service must be made to break even? (0.5 point) 2. apply the equation approach to calculate the dollar revenues needed to earn a monthly target profit of $13,400. (0.25 point)

3. suppose that the average revenue nator earns increases to $1,600 per service. compute the new breakeven point in service. how does this affect the breakeven point? (0.25 point)