Cost of goods manufactured = $11270 4) Prepare income statement Sales Revenues 20‚580 Cost of goods sold 11‚130 Gross profit 9‚450 Less Property taxes for factor 240 Less Income tax expense 510 Net income 8‚700 Question 2 Apportionment of overhead costs using Reciprocal Method Equipment
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Supreme Court stated that a person must be informed of his/her right to remain silent when arrested and that they have access to a lawyer if required. in 1966‚ the Supreme Court stated that one person should have one vote when dealing with the apportionment of electoral districts. These are clear examples where it can easily be argued that the supreme courts role in protecting the rights and liberties of US citizens was major. The Supreme Court has played a very important part in preserving the rights
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Unit 7 P1 Direct costs A cost that can be directly related to producing specific goods or performing a specific service. For example‚ the wages of an employee engaged in producing a product can be attributed directly to the cost of manufacturing that product. Variable costs Variable costs means the cost of production (cost of labour‚ material or overhead) that change according to the change in the volume of production units. Combined with fixed costs‚ variable costs make up the total cost of
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GAAP and IFRS both view depreciation as allocation of cost over an asset’s life. There are three steps of the depreciation process: firstly find depreciable base of the asset‚ and then estimate asset’s useful life and last choose a method of cost apportionment that best matches revenue flow from the asset. Depreciation methods allowed under U.S. GAAP include straight-line‚ units of production‚ or accelerated methods (sum of digits or declining balance). Component depreciation is allowed but not commonly
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Cost accounting deals with ascertainment ‚ allocation ‚ apportionment accounting aspect of costs.Management accounting deals with the effect and impact of costs on the business. 2. Cost accounting provides a base for management accounting whereas management accounting is derived from cost accounting and financial accounting. 3. Cost accounting does not include financial accounting ‚ tax planning and tax accounting. Management accounting includes financial and cost accounting ‚ tax accounting
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Statistical Sampling Statistical Sampling 1. The authors of the paper make assumptions about the U.S. population on three dimensions. What are the three dimensions? (Hint: The authors refer to these dimensions as "components of change.") Answer: The three dimensions would be migration‚ fertility‚ and mortality. 2. What is the expected population of the U.S. in 2050 given the new series (i.e.‚ based on 1998 data) based on the lowest series? The middle series? And the highest
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Management Accounting Absorption vs Marginal Costing Report 20813287 Absorption vs. Marginal Costing (Atmospheric Ltd) Contents Page No Memorandum 3 Marginal (Variable) Costing 4 Absorption
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expense in the statement of comprehensive income. Costs that relate to both share issuance and listing should be allocated between those functions on a rational and consistent basis (IAS 32.38). In the absence of a more specific basis for apportionment‚ an allocation of common costs based on the proportion of new shares issued to the total number of (new and existing) shares listed is an acceptable approach. IAS 32.37 requires that: "The costs of an equity transaction are accounted for as
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What is profit tax? According to Inland Revenue Ordinance s 14 “Charge of profits tax”‚ profit tax is chargeable on every person: Carrying on a trade‚ profession or business in Hong Kong; and In respect of his assessable profits arising in or derived from Hong Kong from such trade‚ profession or business.1 What is person? A person may include: A corporation; Partnership; Trustee‚ whether incorporated or unincorporated; and Body or persons.2 In this case‚ the Taxpayer (“T”) is a private company
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growth Enhance the advance of hair on the scalp in an amount of ways. Among these is through the Omega3‚ Omega6 and Omega9 fatty acids‚ which are all-important in aesthetic growth. Provides growth to the hair The oil as well improves claret apportionment on the scalp Ensures the hair follicles are nourished abundant to help hair growth. Strengthens hair to abate breakage Provide strength to the hair Natural texture of the hair is maintained Support the hair by making the scalp lively Hemp oil
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