Assignments 1. Ken’s Carpets sells carpet for both residential and business use. To better estimate costs‚ the company recently adopted an activity-based costing system. Last year‚ the company incurred $300‚000 in overhead costs. Based on an intense study of their company‚ the following activities‚ allocation bases‚ and percentages of overhead costs were determined: Activity | Allocation Base | Proportion of Overhead Cost | Purchasing | Number of purchase orders | 25% | Materials
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Marginal Costing Versus Absorption Costing The MAIN DIFFERENCE is the treatment of FIXED COSTS. This treatment can produce different profit figures.The two methods of costing produce different profit levels dependent upon the net change in the level of stock during the period.This is due to the VALUATION of the net change in stock during the period. In [...] Over/(Under) Absorption Of Overheads In earlier articles‚ we discussed about absorption costing‚ its advantages and disadvantages and
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VARIABLE COSTING Learning Objectives 1. Explain the accounting treatment of fixed manufacturing overhead under absorption and variable costing. 2. Prepare an income statement under absorption costing. 3. Prepare an income statement under variable costing. 4. Reconcile reported income under absorption and variable costing. 5. Explain the implications of absorption and variable costing for cost-volume-profit analysis. 6. Evaluate absorption and variable costing. 7
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CONTINUE: 11-03-2013 Key concepts in learning: * Subject * Learner * Teacher * Context FORMAL STRUCTURE | V/S | COMMUNICATIVE STRUCTURE | Morphemes‚ sentences‚ rules | | Language is not possible without interaction.Language is meaningful. | Saussure: Parole‚ Langue | | Hymes: Linguistic competence context (what‚ whom‚ when) | Form | | Looks for the function of the language instead of the form | Alternative view: Problem PosingCritical systemIt gives real problems to
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Content 1. Introduction 4 2. Part Ⅰ--Standard Costing System and Variance Analysis 5 2.1. Definition 5 2.2. Scenarios of Standard Costing System and Variance Analysis 5 2.2.1 Scenario Ⅰ Manufacturing Companies—Auto-making Firms 6 2.2.2 Scenario Ⅱ Service Industries—Banks 7 2.2.3 Scenario Ⅲ Other Industries That Have not Repetitve Processes—AdvertisingFirms 8 2.3. Standard Costing System on Different SIzes 9 2.4. Variance Analysis 9 2.4.1 Total Production Cost Variance 9 2.4.2
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Factory Overhead: Variable (P3.00 per direct labor hour) 15.00 Fixed (P4.00 per direct labor hour) 20.00 Standard Cost per unit P 80.00 Normal volume per month is 40‚000 standard labor hours. Jejemon’s january budget was based on normal volume. During January Jejemon’s produced 7‚800 units‚ with records indicating the following: Direct Materials purchased 25‚000 lbs @ P2.60 Direct Materials used 23‚100 lbs Direct labor 40‚100 hours @ P7.30 Factory Overhead P300
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The Overhead Projector (OHP) August 24‚ 2012 Introduction Overhead Projectors are still being used in a lot of schools‚ like in the Philippines. It is not as modern as other equipments‚ but it still serves its purpose which is to show enlarged images on screen. I. Description The Overhead Projector is an optical device for showing images on screen‚ usually for group viewing. The OHP is mainly used for
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In the face of rising inflationary pressure in Hong Kong‚ some people have suggested that the Linked Exchange Rate system is the root cause of the situation and that the Hong Kong dollar should no longer be linked to the US dollar. The Financial Secretary already stated in his blog on 14 August that the Link continues to be the most appropriate exchange rate arrangement for Hong Kong. I will elaborate further on a few related issues. Many people who advocate un-pegging the Hong Kong dollar from
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Chapter 1 Introduction Background of the study The tourism sector of the Philippines has been improving. Tourism industry boost in the trend of today’s generation that creates new opportunities in business world. The tourism industry is recognized by the government as an important contributor to the generation of foreign exchange earnings‚ investments‚ revenue‚ and employment and to the growth of the country output. The inclusion of tourism as a major pillar in the Medium Term Philippine Development
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growing burden that demand fluctuations imposed on the cornpany’s manufacturing and distribution system. Since his appointment in 1988 as Director of Logistics‚ he had been trying to make headway on an innovative idea proposed by Brando Vitali‚ who had served as Barilla’s director of Logistics before Maggiali. The idea‚ which Vitali called Just-in-Time Distribution (JITD)‚ was modeled after the popular "JustIn-Time" manufacturing concept. In essence‚ Vitali proposed that‚ rather than follow the traditional
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