In the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses( architect’s
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Cost Classification Introduction: In this assignment I will be discussing how costs incurred in any organization may be classified in a number of different ways for a number of different purposes. I will also be looking to find companies that use a variety of different costing techniques and methods. I will also be discussing the comparisons between marginal and absorption costing and how the concept of activity based costing can also be compared with these. To complete the assignment I will
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Cost allocation for indirect costs Cost Pool – Set of costs that are added together before being allocated to cost objects on some common basis Cost Driver/ Allocation base Cost Object Cost Driver Rate = Total Costs in Pool/ Total Quantity of Driver Where total quantity of driver = practical capacity of driver Cost of excess capacity = Cost Driver Rate * Excess capacity Predetermined overhead rate - cost per unit of the allocation base used to charge overhead to products. Predetermined
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2-22 Variable costs and fixed costs. Consolidated Minerals (CM) owns the rights to extract minerals from beach sands on Fraser Island. CM has costs in three areas: a. Payment to a mining subcontractor who charges $80 per ton of beach sand mined and returned to the beach (after being processed on the mainland to extract three minerals: ilmenite‚ rutile‚ and zircon). b. Payment of a government mining and environmental tax of $50 per ton of beach sand mined. c. Payment to a barge operator. This
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COST ACCOUNTING M.ASAD ABBAS PAF KIET TABLE OF CONTENTS Executive Summary ......................................................................................................3 Introduction .....................................................................................................................4 Costing Strategy of Vesta Apparel.............................................................................5 Full Cost of the Primary
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5-28-12;12:36 pm Today is a different day. I feel like a phoenix. After dying into ashes last night‚ I am a revived person‚ born again for a purpose. I look at the clouds from the window of my room and wondered‚ asking God "Lord‚ how do I begin my day? Where would You want me to step without making a mistake?" There I am again‚ afraid to fail but I must understand that I am not a perfect person. I wanna break the standards I’m making for myself. I just wanna flow with the Holy Spirit
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COST ACCOUNTING Select the one best answer for each: 1. Which one of the following would not be classified as manufacturing overhead? a. Indirect labor b. Direct materials c. Insurance on factory building d. Indirect materials 2. Prime costs of a company are $3‚000‚000‚ manufacturing overhead is $1‚500‚000 and direct labor is $750‚000. What is the amount of direct materials? a. $1‚500‚000. b. $750‚000. c. $2‚250‚000.
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Why was Carter unsuccessful in his attempt to secure re-election in 1980? Jimmy Carter was the first elected President in half a century who failed to win a second term. His election in 1976 was set during the period of time when people had lost their faith in the presidency. After Nixon’s humiliation considering Watergate scandal and Ford’s simplistic and unenthusiastic govern‚ people were looking for someone outside Washington’s corruption. Carter seemed a perfect decision ‚ governor of a small
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In developing countries a double environmental effect is occurring: old environmental problems‚ such as deforestation and soil degradation‚ remain largely unsolved. At the same time‚ new problems linked to industrialisation are emerging‚ such as rising greenhouse gas emissions‚ air and water pollution‚ growing volumes of waste‚ desertification and chemicals pollution. ENVIRONMENTAL REGULATIONS: Since environment regulation tends to be weak in developing countries some of these countries have begun
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Classification of Cost Cost may be classified into different categories depending upon the purpose of classification. Some of the important categories in which the costs are classified are as follows: 1. Fixed‚ Variable and Semi-Variable Costs The cost which varies directly in proportion with every increase or decrease in the volume of output or production is known as variable cost. Some of its examples are as follows: • Wages of laborers • Cost of direct material • Power The cost which does
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