The Runner Company uses a standard costing system. During 2021, the… The Runner Company

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The Runner Company uses a standard costing system. During 2021, the… The Runner Company uses a standard costing system. During 2021, the company incurred actual overhead of $575,100. The standard rate for applying overhead is $4.08 per unit, and 125,100 units were produced in 2021. One-third of the total overhead variance is attributed to the volume variance, and the remainder is attributed to the controllable overhead variance. Prepare the journal entries to record overhead incurred (you should credit “various accounts”) and the overall variances. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Accounting Business Managerial Accounting Share QuestionEmailCopy link

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Description ****Use Ethical Considerations and social change as to the material that was best useful in the class for writing purposes. For example, material we covered was: Welcome to Week 8 of Managerial Finance! Today, investors, employees, and shareholders challenge organizations to do more with regard to their social responsibility to the communities they serve, environmental stewardship, and corporate giving programs. However, there are also good business reasons for a strong commitment to ethical values and social betterment programs: Ethical companies have been shown to be more profitable. Making good ethical choices results in lower stress for corporate managers and other employees. Good reputations can be easily destroyed, and bad reputations endure for a long time. Corporate social responsibility efforts often enhance leadership and management development. The alternative to good ethical behavior often results in demanding and costly oversight in the form of regulation. Use USA based resources and Business Practices. As you begin this assignment, review the broad range of topics presented throughout the course related to using financial information for decision making. Clearly, 8 weeks does not provide enough time to explore all the topics of this course as deeply as you might have liked. For this final Reflection, select concepts or topics that resonated with you during this course, and commit to learning more about them. To bring this commitment to life, identify concrete action items that support your goal to deepen your personal learning experience in the coming year. Then, consider the following: What can you do now to integrate the experiences and insights you had in this course with your personal and professional development goals? What are the most important things you are taking from this course that will shape your future and enable you to make a positive difference? All components of this Assignment must be submitted as one document: Executive Summary: Write an Executive Summary of the course (2–3 paragraphs) that addresses the following questions: Which content and assignments in this course improved your understanding of using managerial financial information to make decisions for your organization (or one with which you are familiar)? What impact has your improved understanding of financial management concepts had or do you anticipate it will have on the value you will bring to your role within an organization? How have the content and assignments in this course changed the way you think about the manager's role within the organization in terms of financial management and the way you will specifically support financial management in your organization (or one with which you are familiar)? In what ways does the content from this course affect a manager's ability to create positive change within an organization? To what extent can the content from this course contribute to social responsibility and positive social change? How have the content and assignments shaped your goals now, and how do you anticipate they will shape your goals in the future? In this course, you have expanded your understanding of finance in terms of the applications studied (e.g., weighted average cost of capital, bond and stock valuation, cash conversion cycle, etc.). You have also thought about the ways that financial management fits into the larger managerial framework of an organization. For this part, answer the following questions: How would you integrate knowledge of financial management in your overall assessment of a business's health and in your planning for growth? How will your effectiveness as a manager increase as a result of your stronger understanding of managerial finance? What ethics-based practices would you, as a manager, expect of your finance department? How can financial management areas within your organization (or one with which you are familiar) effect positive social change within the organization's serviced communities? Action Plan: Write a detailed Action Plan for one new goal for professional and personal development (you will continue to build on the list of goals you selected in your previous courses). Include the following in your Action Plan: Your specific goal for professional and personal development, with an explanation as to why you selected this goal. Be sure to provide concrete and specific examples of why the goal is important, the extent to which this goal enables you to be an agent for positive social change, the personal or professional value you expect from achieving each goal, and how the goal relates to the resources reviewed in the course. At least two objectives for the goal you have identified: Provide a rationale that explains how your objectives support the goal. General Guidance on Application Length: Your Assignment should be comprised of the following: Executive Summary: Typically 2–3 paragraphs in length and no more than 1 page if single spaced Analysis of how financial management fits into the larger managerial framework of an organization: Typically 1 to 2 pages (0.5 to 1 page if single spaced) Action plan: Typically 1 to 2 pages (0.5 to 1 page if single spaced) Refer to the Week 8 Individual Reflection Rubric for grading elements and criteria. Your instructor will use the rubric to assess your work. Tags: accounting equation managerial Finance personal growth environmental stewardship social betterment User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
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