materials were charged to Job 88 ’s job cost card‚ how much overhead was applied to Job 88? Answer a. $70‚000 b. $120‚000 c. $72‚400 d. $35‚100 Unit costs for each job are computed by dividing Answer a. estimated total costs by planned units to be produced. b. actual costs by actual units sold. c. cost of direct materials‚ direct labor‚ and overhead by number of units produced. d. estimated total costs by actual units produced. The _________ provide(s) the most direct means of calculating
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Albertson’s Case Study 1. Summarize of the situation Albertsons is the third largest retail store in the United States with 2‚305 stores in 31 states. Their principal goal is to trounce Wal-Mart by investing in technology to keep their current customers happy and bring in new ones. Wal-Mart incomes annually are about $56 million and Albertsons are about $20 million so we are talking about nearly triple its size in sales. 2. Questions a. Analyze Albertsons using the value chain and competitive
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will I am sure be of interest not only to our student audience but as a refresher to those of you in practice that may be required to deal with this concept. In most businesses debtor balances represent an important element of working capital. Accounting principles dictate that the supply of goods or services is accounted for as sales‚ at the point at which the buyer has a legal obligation to pay for them. Total debtors represent the value of credit sales for which payment has yet to be received
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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Case History John Baker a nine-year-old male‚ was admitted to the emergency room with the chief complaints of wheezing during respiration‚ swelling and erythema of the right arm distal (below/farthest away from) to the humerus‚ and slight vertigo (dizzy/ room spinning). The patient is responsive; however‚ he seems confused. The patient was playing outside‚ when a wasp stung him on the anterior region (front/top region) of the forearm. The patient’s mother watched the incident unfold‚ and promptly
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Case Report: Kristen’s Cookie Company Do Tra My – Section 24 1. Process Analysis: The flow chart is included in the Appendix Task Order Entry Wash+Mix Spooning Setting Baking Cooling Packing Accepting Payment Total Resource None You You Roommate + Oven Oven None Roommate Roommate Cycle Time (mins/dozen) 0 6 2 1 9 5 2 1 26 Capacity (dozens/hour) Infinity 10x3=30 30 60 6.67 12 30 60 Flow Time (mins) 6 2 1 9 5 2 1 26 Table 1: Process Analysis Assumptions: Order is for a full box (a dozen cookies)
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Case: KRISTEN’S COOKIE COMPANY The case described about Kristen’s cookie company which provide freshly made cookies with variety of ingredients available to add to the cookies. The company is established in the on campus apartment. The cookies are made by 2 people‚ using a standard dough mixing equipment‚ tray and the apartment oven. Below is the explanation and evaluation of the preliminary process design in making and selling the cookies to the customers. Kristen’s cookie company promises that
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Chapter 4 : Account Titles and Preparation of Financial Statements | Article 14 : The balance sheet items shallbe categorized as follows: 1. Assets. (1) Current assets. (2) Funds and long-term investments. (3) Property‚ plant and equipment. (4) Depletable assets. (5) Intangible assets.
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------------------------------------------------- Subject: Managerial Accounting Case 1 Seligram In the Seligram case‚ the existing cost accounting system measured two components of cost: direct labor and burden. All burden cost‚ which is the overhead‚ was grouped into a single cost pool and was calculated only by using a burden rate per direct labor dollar. This may cause problems since direct labor and overhead are not consumed by the products in the same proportion. Simply using the same burden
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Chapter 1 Case 1-6 During the early 2000s‚ the roles of accounting and the auditing profession changed and several accounting scandals were uncovered. A. What conditions caused accounting and the auditing profession role to change during this time? In the mid 80s‚ the AICPA lift on the ban on advertising caused revenue generation to become more critical to partner’s compensation. The profit structure of CPA firms changed‚ and in 1999‚ revenues for management consulting accounted for more
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