CHAPTER 3 Product Costing and Cost Accumulation in a Batch Production Environment ANSWERS TO REVIEW QUESTIONS 3-1 (a) Use in financial accounting: In financial accounting‚ product costs are needed to determine the value of inventory on the balance sheet and to compute the cost-of-goods-sold expense on the income statement. b) Use in managerial accounting: In managerial accounting‚ product costs are needed for planning‚ for cost control‚ and for decision making. c) Use in cost
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The analysis of texts 1. Old English – The story of Jacob’s Deceit 17. And hēo sealde him Þone mete Þe heo seaÞ‚ and hlāf; and hē brōhte Þæt his fæder 18. and cwæð: ’Fæder mīn!’ Hē andswarode and cwæð: ’Hwæt eart Þū‚ sunu mīn?’ 19. And Iācob cwæð: ’Ic eom Ēsau‚ Þīn frum-cenneda sunu. Ic dyde swā Þū mē bebude. Ārīs upp and site‚ and et of mīnum huntoðe‚ Þæt Þu me blētsiƷe.’ Translation: 17. And she sold him that meat she boiled‚ and bread‚ and he brought them to his father. 18. and said:
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English II Professor “Effects of Text Messaging on Student Literacy” Submitted By: Kristine M. Braganza Arianne Loise Evangelista Blazel Colleen Jalique Tagum Doctors College Inc. Mahogany St.‚ Rabe Subd.‚ Tagum City‚ Davao Del Norte 8100 Table of Contents Chapter I: Introduction A. Background of the study B. Statement of the Problem C. Scope & Delimitation D. Significance of the Study E. Definition of Terms Chapter II: Review of Related Literature
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1 Summary of Safety 24/7 The book Safety 24/7 was a book basically about safety in an industrial workplace. The book explained many safety tips to improve a safe working environment. There were a few main characters in this book that were very easily to understand their purpose in the story. The first character that appeared in this story is Kurt Bradshaw. He was promoted to the manager of worldwide safety. His great leadership skills and motivational techniques had put him in this new position
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CHAPTER 5: ACCOUNTING FOR GENERAL CAPITAL ASSETS AND CAPITAL PROJECTS OUTLINE Number Topic Type/Task Status (re: 13/e) Questions: 5-1 Distinguishing general capital assets from fund capital assets Describe New 5-2 Capital asset disclosures Explain New 5-3 Modified approach for infrastructure Describe New 5-4 Capital lease accounting Describe 5-8 revised 5-5 Asset impairment Explain New 5-6 Use of capital projects funds Explain 5-4 revised 5-7 Encumbrances Explain Same 5-8 Construction
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Article Analysis From Enron to Tyco‚ accounting scandals have always been a worrisome issue in accounting. Regardless of how many internal controls there are‚ there will always be a chance for unethical practices in accounting. Where and when do these problems arise? This paper will analyze an article listing situations that lead to those unethical practices and behavior that lawmakers try to prevent. In his article “What Are the Causes of Ethical Lapses in Accounting‚” Jagg Xaxx writes that business
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Mona‚ was sentenced to death (Musa 296). We meet Johnny Fucci in the final phase of the canto‚ as Dante once more follows the recurring theme throughout Inferno of transitioning from myth to history. However‚ psychologically and linguistically‚ canto 24 presents a complete contrast to the beginning cantos. Where the damned and frustrated sinner both submits to and profits from their encounter with Virgil and Dante‚ Johnny Fucci sets himself in violent opposition to that order (Kirkpatrick 405). Most
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CHAPTER 3 The Accounting Cycle QUESTIONS Q3-1. Much more judgement is required for accrual accounting than for cash accounting because there is greater uncertainty at the time events are recorded in the accounting system. There is no uncertainty around the point in time when the cash is paid or collected. Accrual accounting records economic events‚ not cash flows. When an economic event occurs can be ambiguous. It’s less certain when revenue has been earned than when cash is received. It
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Chapter 7 Accounting for Financial Management ANSWERS TO BEGINNING-OF-CHAPTER QUESTIONS 7-1 The balance sheet shows the assets‚ along with the sources of funds used to acquire the assets‚ at a point in time‚ say 12/31/07. The income statement shows the sales and profits that were produced during an interval of time‚ say the year 2007. An individual would have assets‚ and a net worth‚ and a balance sheet would detail these holdings. The individual would also have income and expenses‚
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E -11 DM 5 DL 4 VMO 3 FMO = 180‚000/50‚000 = 3.6 Total = 15.6 15.6 * 5‚000 (50‚000-45000) = 78‚000 E-12 DM 5 DL 4 VMO 3 Cost per unit = 12 $ EIV = 12 * 5000 = 60‚000 E-13 Difference 3.6 * 5000 = 18‚000 And 78‚000 – 60‚000 = 18‚000 E-14 CGS sold = 45000(sold) * 15.60 = 702‚000 E15 12 * 45000 = 540‚000 E16 Sales = 30 * 45‚000 = 1‚350‚000 CGS 702‚000 CM 648‚000 Less S & admin. 160‚000 Net income 488‚000 E17 Sales =
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