At the HWENTIA METROPOLITAN ASSEMBLY, a resolution was passed in line with the provisions of chapter 13 of the 1992 Constitution of Ghana. During the meeting to pass the resolution, the Lord Mayor, Hon. Alhaji Prekese reiterated that “no money shall be spent for any purpose without the prior approval of the local assembly.” In approving the budget for the year, the Assembly had authorized spending of GHS 1,300,000 for road maintenance. Later in the year, after the Assembly had spent virtually the entire budgeted amount, a major storm washed out portions of several roads leading to one of the Local Authority Schools- Offinso Kokoti Local Authority Middle School (OKLAMS). The school was inaccessible, and the Lord Mayor wanted to enter into an emergency contract to repair the roads. City engineers estimated that the cost of the repairs would be about GHS 350,000. If the assembly entered into such a contract, the total amount spent on road maintenance for the year would be greater than the amount authorized. Recognizing the need for prompt action, the mayor immediately entered into the contract without seeking prior approval. Required:
Comment on the legal, financial, and accounting implications of this scenario.​

Benton company (bc), a calendar year entity, has one owner, who is in the 37% federal income tax bracket (any net capital gains or dividends would be taxed at a 20% rate). bc's gross income is $395,000, and its ordinary trade or business deductions are $245,000. ignore the standard deduction (or itemized deductions) and the deduction for qualified business income. if required, round computations to the nearest dollar. a. bc is operated as a proprietorship, and the owner withdraws $100,000 for personal use. bc's taxable income for the current year is $ , and the tax liability associated with the income from the sole proprietorship is $ . b. bc is operated as a c corporation, pays out $100,000 as salary, and pays no dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . the shareholder's tax liability is $ . c. bc is operated as a c corporation and pays out no salary or dividends to its shareholder. bc's taxable income for the current year is $ , and bc's tax liability is $ . d. bc is operated as a c corporation, pays out $100,000 as salary, and pays out the remainder of its earnings as dividends. bc's taxable income for the current year is $ , and bc's tax liability is $ .

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

Dakota products has a production budget as follows: may, 16,000 units; june, 19,000 units; and july, 24,000 units. each unit requires 3 pounds of raw material and 2 direct labor hours. dakota desires to keep an inventory of 10% of the next month’s requirements on hand. on may, 1 there were 4,800 pounds of raw material in inventory. direct labor hours required in may would be: