use of a single burden rate. Burden costs of the testing rooms as well as other costs such as admin were grouped into a single cost pool and then divided by the total labor dollars. This resulted to a single burden rate of 145% of direct labor dollars (cost driver). This method is not appropriate for Seligram because the information on the case present that direct labor hours and machine hours vary by product line and activity. In addition‚ the burden cost of the main and test room also significantly
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Import Process against LC IMPORT SECTION: Import section of any bank deals with L/C opening and post import financing i.e. LIM & LTR. Now the procedure from opening L/C to disbursement against L/C is given below. APPLICATION FOR OPENING L/C: At first‚ an importer will request banker to open L/C along with the following documents. 1. An application 2. Indent or Performa Invoice 3. Import Registration Certificate (IRC) 4. Taxpayer Identification Number (TIN) 5. Insurance cover note with
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RIGHTS AND OBLIGATIONS OF AGENT UNDER THE LAW OF AGENCY Introduction The law of agency is based on the maxim “Qui facit per alium facit per se” i.e. he who does an act through another does it by himself. The concept of representative capacity is the totem of agency. In the hustle and bustle of everyday life it sometimes becomes impossible to do everything ourselves and hence it becomes necessary to employ people to perform our acts. The person employed is the agent and the contract by which
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animation of this medallion. For all eyes and for all time‚ it is an expression of the ethics of the American soldier. That I should be integrated in this way with so noble an ideal arouses a sense of pride and yet of humility which will be with me always Duty‚ Honor‚ Country: Those three hallowed words reverently dictate what you ought to be‚ what you can be‚ what you will be. They are your rallying points: to build courage when courage seems to fail; to regain faith when there seems to be little cause
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Company Background Thai President Foods Public Company Limited was established on February 15‚ 1972 with an initial registered capital of 6 million baht through a joint venture between President Enterprise Co.‚ Ltd. of Taiwan – providing manufacturing technology expertise and Saha Pattanaphibul Co.‚ Ltd. - responsible for marketing and distribution. The founding objective was to produce instant noodles under the "MAMA" brand. The Company’s first Head Offices were located on New Petchburi Road‚ while
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EXISTENCE OF A DUTY Before 1932 there was no generalised duty of care in negligence. The tort did exist and was applied in particular situations where the courts had decided that a duty should be owed‚ eg‚ road accidents‚ bailments or dangerous goods. In Donoghue v Stevenson [1932] AC 562‚ Lord Atkin attempted to lay down a general principle which would cover all the circumstances where the courts had already held that there could be liability for negligence. He said: "The rule that you
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PLANT GROWTH EXPERIMENT Numerous environmental variables influence plant growth. Three students each planted a seedling of the same genetic variety in the same type of container with equal amounts of soil from the same source. Their goal was to maximize their seedling’s growth by manipulating environmental conditions. Their data are shown below. Plant Seedling Mass (grams) Day 1 Day 30
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College Costs Introduction It’s no secret that financing a college education is getting tougher. College costs have skyrocketed over the past decade or so‚ and there’s no relief in sight. Average tuition at four-year colleges will increase 7 percent this school year‚ double the rate of inflation. Student aid is not increasing fast enough to plug the growing gap between tuition and family finances. In addition‚ there is a growing number of older students entering college today. These students
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Practice Task: BORROWING COST OF ISSUING BANK BILLS In order to fund its short-term operations‚ the Chief Financial Officer (CFO) of Best Company has decided use short-term money market instruments. The CFO has asked you and your team to advise the company of the best course of action. After a lengthy discussion with the CFO‚ it was decided to issue bank-accepted bills of exchange (bank bills). In order to obtain board approval‚ the CFO has asked you and your team to create a simple spreadsheet
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Cost Classifications and Estimation 2.0 Introduction Cost classification may be defined as ‘the arrangement of cost items in a logical sequence having regard to their nature and purpose to be fulfilled’. The term cost must be qualified when in use in order that its precise meaning is established in a particular situation; however‚ cost refers to the amount of resources that have been diverted from other uses or sacrificed so as to achieve the desired objective. But the term is used to refer to
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