Question 1 Globetrotters Ltd makes road trailers to the precise specifications of individual customers. The following are predicted to occur during the forthcoming year, which is about to start:

Direct materials cost
£50,000
Direct labour cost
£160,000
Direct labour time
16,000 hours
Indirect labour cost
£25,000
Depreciation of machinery
£8,000
Rent and rates

£10,000

Heating, lighting and power
£5,000
Indirect materials
£2,000
Other indirect costs
£1,000
Machine time
3,000 hours
All direct labour is paid at the same hourly rate. A customer has asked the business to build a trailer for transporting a racing car to races.
• It is estimated that this will require materials and components that will cost £1,150.
• It will take 250 direct-labour-hours to do the job, of which 50 involve the use of machinery.
Required:
(a) Calculate two feasible overhead rates for the year.

Management discovers that a supervisor at one of its restaurant locations removes excess cash and resets sales totals throughout the day on the point-of-sale (pos) system. at closing, the supervisor deposits cash equal to the recorded sales on the pos system and keeps the rest.the supervisor forwards the close-of-day pos reports from the pos system along with a copy of the bank deposit slip to the company’s revenue accounting department. the revenue accounting department records the sales and the cash for the location in the general ledger and verifies the deposit slip to the bank statement. any differences between sales and deposits are recorded in an over/short account and, if necessary, followed up with the location supervisor. the customer food order checks are serially numbered, and it is the supervisor’s responsibility to see that they are accounted for at the end of each day. customerchecks and the transaction journal tapes from the pos system are kept by the supervisor for 1 week at the location and then destroyed.what control allowed the fraud to occur?

Assume that the following conditions exist: a. all banks are fully loaned up- there are no excess reserves, and desired excess reserves are always zero. b. the money multiplier is 5 .     c. the planned investment schedule is such that at a 4 percent rate of interest, investment =$1450 billion. at 5 percent, investment is $1420 billion. d. the investment multiplier is 3 . e.. the initial equilibrium level of real gdp is $12 trillion. f. the equilibrium rate of interest is 4 percent now the fed engages in contractionary monetary policy. it sells $1 billion worth of bonds, which reduces the money supply, which in turn raises the market rate of interest by 1 percentage point. calculate the decrease in money supply after fed's sale of bonds: $nothing billion.

What type of budget is stated? a budget is a type of financial report that scrutinizes the inflow and outflow of money in a given financial year.