Plant Transport Plants are mostly made up of water. Lettuce is about 94% water and a potato is about 77% water. Plants need water for three main purposes: ------photosynthesis‚ -support -transport of chemicals Water is a raw material for photosynthesis. If water is in short supply‚ the rate of photosynthesis will be limited. Plants need water for support‚ otherwise they wilt. Water is needed to transport many chemicals within plants. Chemicals‚ such as mineral salts‚ dissolve in water and
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Budgeted Production Cost and Variance Analysis. At the beginning of 2011‚ Jejemon Corporation adopted the following standards: Direct Materials (3 lbs. @ P2.50 / lb) P 7.50 Direct Labor (5 hours @ P7.50 / hr) 37.50 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
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ADVANTAGES OF KAIZEN COSTING There are certain basic principles which are followed in various Japanese companies which are listed below: - 1) Focus on customers: The Kaizen philosophy has only one prime objective of customers’ satisfaction. Kaizen permits no middle ground its either you provide best products and customer satisfaction or not. All the activities should aim at providing customer with whatever he wants and should help the firm long term objective of customers’ satisfaction at
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STANDARD COSTING VARIANCES Materials Actual Production X X X Vs. Standard Usage Standard Price Actual Usage Actual Production X X X Vs. Standard Usage Standard Price Actual Usage Actual Price Actual Price Total Variance Actual Production X X X Vs. Standard Price Actual Usage Actual Usage Actual Production X X X Vs. Standard Price Actual Usage Actual Usage Price Variance Actual Price Actual Price Standard Price Standard Price Actual Usage
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direct labor is $4.00 per unit‚ variable manufacturing overhead is $6.00 per unit‚ and fixed costs are $12‚000 for the units produced‚ then what would be the cost assigned to 2‚000 of units in ending inventory? If direct materials are $8.00 per unit‚ direct labor is $4.00 per unit‚ variable manufacturing overhead is $6.00 per unit‚ and fixed costs are $12‚000 for 6‚000 units produced‚ what is the total cost per unit under throughput costing? Under throughput costing‚ are product costs higher or
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Backflush Costing Backflush costing is a traditional and standard costing systems track costs as products pass from raw materials‚ to work in progress‚ to finished goods‚ and finally to sales. Such systems are called ’sequential tracking systems’ because the accounting system entries occur in the same order as purchases and production. Sequential tracking is common where management desires to track direct material and labor time to individual operations and products. Backflush costing is a method
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cost the services they render. Product costing is the accounting process of determining all business expenses pertaining to the creation of company products. These costs can include raw material purchases‚ worker wages‚ production transportation costs and retail stocking fees. A company uses these overall costs to plan a variety of business strategies‚ including setting product prices and developing promotional campaigns. A company also uses product costing to find ways to streamline
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be confused with profit. The contribution of a product refers to how much it contributes to the fixed costs and profit of the business once variable costs have been covered. It can be calculated either per unit of output or in terms of total contribution of all units produced. Contribution ignores fixed costs and only considers any surplus left once variable costs have been subtracted from revenue. Hence‚ contribution is what a product contributes towards the fixed costs of the business and‚ once
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Abstract: This experiment explores the technique of absorption spectroscopy. The procedures deal with the wavelengths and absorption of dyes in a sample of grape Kool-aid. The use of Beer’s Law helps to determine values of absorption. Introduction: This experiment demonstrates another technique used in the analysis molecules with light. The study of light absorbed my molecules is known as absorption spectroscopy. This is very easily the opposite of emission spectroscopy because it occurs when
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Airline Operating Costs By Peter Horder‚ Senior Vice President SH&E Ltd Prepared for: MANAGING AIRCRAFT MAINTENANCE COSTS Conference Brussels‚ 22 January 2003 Agenda Introduction Current Airline Environment Airline Cost Elements Indirect and Direct Operating Costs Overhead Cost Control Balance Sheet Effects Reference Sources Conclusions 1 Introduction Current airline environment Safety considerations and costs – Security restrictions – Insurance implications Cost reduction
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