Explain how an organisation can cost a product and determine its price at any activity level The main costs and elements that a business needs to consider‚ taking into account the nature of these costs as well are: * Expense of buying vehicles or maintaining it * Mortgage * Business Rates * Wages Extra / Wages * Drawings * Advertising * Insurance * Loan repayment interest * Loan repayment capital * Purchases / VAT on purchases * VAT paid to C & E
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Lorson Manufacturing Company Case Study Executive Summary Lorson Manufacturing Company is actively seeking to implement tighter cost control measures in an industry that is largely governed by prices. The purpose of this report is to present and analyse a new costing system proposed by Mr. Jan Lorson for the valve department of the company‚ and compare it to the existing system‚ in order to judge whether to go forward with its implementation. The analysis uses a number of examples to highlight
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MB0041/MBABF –Financial and Management Accounting Assignment Q3. Draw the Balance Sheet for the following information provided by Sarawath Ltd.. a. Current Ratio : 2.50 b. Liquidity Ratio : 1.50 c. Net Working Capital : Rs.300000 d. Stock Turnover Ratio : 6 times e. Ratio of Gross Profit to Sales : 20% f. Fixed Asset Turnover Ratio : 2 times g. Average Debt collection period : 2 months h. Fixed Assets to Net Worth : 0.80 i. Reserve and Surplus to Capital : 0.50 | Balance Sheet Liabilities
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Current tax law is resulting from Sixteenth Amendment to the Constitution as passed by the Congress on July 12‚ 1909. The amendment stated: “The Congress shall have power to lay and collect taxes on incomes‚ from whatever source derived without apportionment among the several States‚ and without regard to any census or
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According to the research‚ Slavery started and the African slaves were bought to North America in Virginia in 1619. Slavery was everywhere throughout the colonies in 17th and 18th century. So‚ The African slaves helped the new nation to build their economic foundations. There were many things came out during slavery like cotton gin‚ rise of abolition movement‚ Westward expansion‚ Civil War‚ Emancipation‚ etc. The cotton gin was important to the south economy. West expanded and in the North abolition
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computation of actual cost incurred. Cost Allocation : Cost allocation refers to the allotment of all the items of cost to cost centers or cost units.It is the process of charging direct expenditure to cost centers or cost units. Cost Apportionment : Cost apportionment refers to the allotment of proportions of items of cost to cost centers or cost units. It is the process of charging indirect expenditure to cost centers or cost units. Cost Reduction: Reducing the existing costs of items or services
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“The Decision in Philadelphia” America is a young country in 1787. They have just won the war for their independence and are now under the new rule of the Articles of Confederation. This government is put in place to ensure that no one leader will have too much power. The newly formed nation still has the undesirable taste of monarchy in their mouth and are hesitant to enact some sort of executive power. The Articles rely on the committee’s to take care of that missing executive branch. Committee’s
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Types of costs Classification of costs: • Materials – costs of raw materials‚ components and other goods used. • Labor – cost of employees wages and salaries. • Expenses – costs which cannot be included in materials and labor. Variable costs – these costs varies directly with changes in the level of quantity‚ over a defined period of time. Fixed costs – are not affected by the changes in the level of activity‚ over a defined period of time. Semi variable costs – for
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Transfer pricing is a profit allocation method (the other being formulary apportionment) used to attribute a multinational corporation’s net profit (or loss) before tax to countries where it does business. Since countries impose different corporation tax rates‚ the corporation’s goal is to allocate more of the worldwide profit to lower tax countries‚ thereby minimizing the overall taxes paid. Many countries impose penalties on corporations if they consider that they are being deprived of taxable
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1800- Mount Holyoke College is a liberal arts women’s college in South Hadley‚ Massachusetts. Originally founded by Mary Lyon as Mount Holyoke Female Seminary on 8 November 1837‚ it is the "first of the Seven Sisters" and is the oldest continuing institution of higher education for women in the United States. In addition‚ according to the United States Department of Education‚ "Mount Holyoke’s significance is that it became a model for a multitude of other women’s colleges throughout the country
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