Memo Our new product line‚ “Chap-Off”‚ have total costs of $7.00 per box if we plan to produce it internally. This total cost per unit consists of $3.60 for direct material‚ $2.00 for direct labor‚ and $1.40 for manufacturing overhead. Moreover‚ a $90‚000 charge for fixed manufacturing overhead will be absorbed by the product under the company’s absorption costing system. However‚ if we decided to purchase the tube from the supplier at $1.35 per box of 24 tubes then the direct labor and variable
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is provided for general guidance only and on the understanding that it does not represent‚ and is not intended to be‚ advice. Whilst care has been taken in its preparation‚ it should not be used as a substitute for consultation with professional accounting‚ tax‚ legal or other advisors. Before making any decision or taking any action‚ you should consult with an appropriate specialist or professional. No warranty is given to the correctness of the information contained in this document‚ or its suitability
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MEMORANDUM TO: President Steve Corder‚ Big Oil Company FROM: Accounting Research DATE: August 19‚ 2013 SUBJECT: Client Understanding CC: John Doe‚ Supervisor This memo is issued to offer some understanding on the information requested for the analysis of work papers. The memo will define particular areas of review. The memo will also answer any questions you have concerning the analysis of the work papers regarding adjusting lower cost of market inventory on valuation; capitalizing
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Instructions for the Microsoft Excel Templates by Rex A Schildhouse | | Be advised‚ the template workbooks and worksheets are not protected. Overtyping any data may remove it. | | | Extensive detail and information is contained within the help function of Microsoft Excel and in the provided text. | | You should enter your name‚ date‚ instructor’s name‚ and course into the cells at the top of the page. This information will be printed on the top of each page if the template requires
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gooda available for sale. -the consistency principle states that the busineses should use the same accounting methods from period to period. -under the FIFO‚ the ending inventory is based on the cost of the most recent purchases. -the value of purchases remains the same irrespective of the inventory valuation method used. -using FIFO‚ the COGS is based on the oldest purchases. -the accounting conservatism principle requires that financial statements should report LEAST favorable figures. -do
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Accounting: Topic 6: Analysis And Interpretation Of Financial Statements (Part 2) Capital Structure Analysis Proportion of debt financing relative to equity financing (=gearing or leverage) * Reflects the entity’s financing decisions * Investments in assets are funded externally by liabilities‚ or internally by owner’s as shown in accounting equation (A=L+OE) Debt to equity ratio: Total liabilities/ Total equity x 100=x% Debt ratio: Total liabilities/ Total asset x 100=x%
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Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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| AOF & MKT Western High School | |Memo To: Mr. Faulstich From: Tia Coley Date: 5/6/13 Subject: “Prom marketers use social media to push deals” A) I selected this news worthy article because prom is coming up with this weekend. Also‚ marketing is used to promote prom‚ and is explained in this article. Other marketing strategies are being used to lure people in the ‘prom world’. B) The main idea of the article I chose is how prom marketers are using
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BM6026 - Managerial Accounting & Finance Mini Assignment - Sem 1 2014/2015 Name : Suriati Binti Yusse Matric no : MB1412199T Class : Tuesday - 7.00PM - 10.00PM product selling price Variable Cost : Material : Extract of Tongkat Ali Other Ingredients Packing Material Overhead Cost : Drying cost of liquid Other Overhead Cost Labour Cost : Processing Packaging Total Variable Cost Unit Contribution Margin Expected volume sales % of total sales Weighted Contribution Q1 : capsule
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