Date: July 29‚ 2013 To: Rubrics Corporation From: Group 1 RE: Activity-Based Costing and Management Objective and Purpose It is said that Rubrics Corporation is no longer satisfied with single direct cost driver‚ which is also called Traditional Volume-Based Product-Costing System‚ because it is not accurate. A shortcoming or overloading of cost occurs when they use Traditional Volume-Based Product-Costing System to calculate cost of producing four products: Widgets‚ Gadgets‚ Smidgets‚ and Smadgets
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Using the simulation in the spreadsheet would yields Q=584 b. [pic] Problem #2 a. Using solver to solve the embedded model in the Excel sheet or by trying different values for h the optimum value will be obtained as “h=4” b. Marginal Revenue = Marginal Benefit [pic] c. Optimal profit from Problem #1 = 331 Current optimal profit = 371 The difference is due to the effect of Sheen’s effort on the demand. This relation is not surprising. Players in the different stages
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$325‚000 Therefore applied overhead= 325‚000 x 2 =$650‚000 Actual manufacturing OH=$620‚000 Therefore OH over applied==$650‚000 - $620‚000 = $30‚000 Use the following to answer question 4: Leija Manufacturing Company uses a job-order costing system and started the month of March with one job in process (Job #359). This job
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from Bangladesh. With highly advanced technology and emphasis on developing local human resources. That is why B.Sc in Textile Engineering course is extruded over four years followed by two months industrial training in mill. It is attached to our study curriculum to achieve adequate practical knowledge and develop adoption power with industrial environment. I preferred this attachment in Polka Dots Fashion Ltd‚ which is a 100% export Garments Industry. Working environment is very good in this
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similar to the one below including study guides‚ practice problems‚ reference materials‚ practice exams‚ textbook help and tutor support. Course Hero has millions of student submitted documents similar to the one below including study guides‚ practice problems‚ reference materials‚ practice exams‚ textbook help and tutor support. 3: Chapter Product Costing and Cost Accumulation in a Batch Production Environment MULTIPLE CHOICE QUESTIONS 1. Product costing in a manufacturing firm is the process
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explains‚ “Our existing IT systems had been developed in-house and had supported us well in the past‚ but gaps began to emerge as the business expanded. We relied on a number of different applications for inventory management‚ production‚ product costing and financial accounting‚ and the lack of integration between these systems was really starting to impact operational visibility and efficiency as we continued to grow.” generated by its operations on materials‚ production‚ sales and finance threaten
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1a) Activity based costing is a relatively new type of procedure that can be used as an inventory valuation method. The technique was developed to provide more accurate product costs. This improved accuracy is accomplished by tracing costs to products through activities. In other words‚ costs are traced to activities (activity costing) and then these costs are traced‚ in a second stage‚ to the products that use the activities. Another way to express the idea is to say that activities consume resources
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Chapter 7 Variable Costing: A Tool for Management Solutions to Questions 7-1 The basic difference between absorption and variable costing is due to the handling of fixed manufacturing overhead. Under absorption costing‚ fixed manufacturing overhead is treated as a product cost and hence is an asset until products are sold. Under variable costing‚ fixed manufacturing overhead is treated as a period cost and is charged in full against the current period’s income. 7-2 Selling and administrative expenses
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WRITERSHARP INC. (Case Study) I.THEORETICAL FRAMEWORK Writesharp Inc. Is thinking of customer’s satisfactions through listening to what usually a customer demands in terms of how will the pencil they are producing should be. Writesharp Inc. is particular with the effects of change of the feature of their current product line. II. STATEMENT OF THE PROBLEM How will Writesharp Inc. improve the quality of its product that will satisfy the customers and performance of its
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Marie Hermansen‚ 3.w English assignment 27/1-11 ‘If’ and ‘We and They’ by Rudyard Kipling If I had to think of one major theme in the poem If‚ which is written by the English writer Rudyard Kipling‚ I would have to say that ‘dignity’ plays a big part‚ seeing as every one of the things he mentions will lead you to dignity in some way or another. And yet every line‚ as the title suggests‚ begins with "If you-"‚ allowing for the potential mistakes of the flawed human race. Whereupon‚ Kipling suddenly
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