variances. Recognize the features of a standard cost system. Account for standard costs in a departmentalized factory. Distinguish between actual and applied factory overhead. Standard Costing •The purpose of standard cost accounting is to control costs and promote efficiency. •It is not another accounting method for accumulating manufacturing costs‚ but is used in conjunction with such methods as job order‚ process‚ or backflush costing. •Standard costing is based on predetermination of what it should
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THE PROCESS OF PROCESSING PALM FRUIT INTO PALM OIL The production of crude palm oil includes a series of phases beginning with harvesting the fruit and ending with storing the oil‚ each using different methods and machines. Oil palm fruit can be processed in batch‚ continuous‚ or semi-continuous system. A batch system extracts oil from consecutive batches of fruits‚ while in a continuous system‚ each step in the oil extraction process feeds into the next. In a semi-continuous system‚ there may be
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individual computer systems. Within every organization there is threat of data loss. Whether the loss is unintentional or malicious. Many factors are attributed to data loss such as malware‚ computer theft‚ hacking‚ and network exposure‚ to name a few. This type of data loss not only affects organizations but individuals also. In addition‚ all types of data are vulnerable. Why? More and more employees rely on e-mail for business communications. Individuals and organizations use e-mail as a central
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Traditional costing versus Activity-based costing Advantages and disadvantages Costing systems are the programs that supply information about the value of direct labor hours and numbers of units produced. With the help of data such as product cost‚ the managers can generate estimation of cost associated with different activity carried in the organization. The costs systems operate by taking total cost as basic for calculation. Costing is essential for every organization‚ as every manufacturing and
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1‚ a parameter is a special kind of variable‚ used in a subroutine to refer to one of the pieces of data provided as input to the subroutine.[1] These pieces of data are called arguments. An ordered list of parameters is usually included in the definition of a subroutine‚ so that‚ each time the subroutine is called‚ its arguments for that call can be assigned to the corresponding parameters. Just as in standard mathematical usage‚ the argument is thus the actual value passed to a function‚ procedure
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Activity-Based Costing Instructor Bradley Johnson December 17‚ 2012 Activity-Based Costing In business‚ there are two separate costing methods that a firm can use. One of those methods is called traditional costing system and the other is activity-based costing. Activity-based costing (ABC) is a costing method that focuses on identifying activities which allocates the costs of each activity a firm uses. From our text‚ it identifies Activity-based Costing as “a two-stage product costing method that assigns
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ACTIVITY BASED COSTING CASE STUDIES (7-64 & 7-65) Submitted to: Dr. Felix D. Cena‚ CPA‚ MBA Management Account I Professor Submitted by: Neil Derrek M. Dullesco Dan Carlo D. Poblacion COMA4B CASE 7-64 1. Identify the flaws associated with the current method of assigning shipping and warehousing costs to Sharp’s products. Shipping and warehousing costs are currently assigned using tons of paper produced‚ a unit-based measure. Many of these costs
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Review of Training Methods at Capital One Corporation(choose ur company) Summary Introduction The Training Manager(responsible for delivering training)- talk about training manager and his responsibilities Mode of Training Delivery at Capital One Corporation-1. talk about how training could be delivered to meet the needs of workers 2. Talk about the type of delivering method you think will help the organisation‚ either instructor – led method or self- placed method and state why u think
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associated with two of Coffee Beans Inc. products‚ Moana Loa and Malaysian blends based on two different costing methodologies‚ namely the traditional job costing system that the company uses so far and the Activity Based Costing (ABC). ABC provides us with a more detailed and accurate estimation of the real cost of the products and it can serve as the basis for suitable strategic decisions‚ concerning products mix‚ pricing‚ suppliers and market positioning. A major issue that have to be concerned is
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Table of Contents Preparation pg 1 Saying good bye pg 2 The Ceremony pg 3 Earth pg 4 Games pg 5 New Life pg 6 Jaycee was sitting in her room studying as always. Her room isn’t what you think it would be. It is dark and dingy and very mysterious. It looks like there was a house fire‚ and it smells like mold and rotten garbage. In fact where she lives is very mysterious and smelly too. This is because her home is underneath the surface of the earth
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