Fin 516 - Minicase - John Deere & Co | FIN-516 Week 2 - MINI – CASE ASSIGNMENT | Deere & Company (NYSE:DE) | | A fundamental Analysis into the financial performance of Deer and Company (NYSE :DE )‚ better known as JOHN DEERE & CO. | FIN-516 – WEEK 2 – MINI – CASE ASSIGNMENT Deere & Company (NYSE:DE) 1. What is the name of the company? What is the industry sector? Deere & Company also more commonly known as John Deere‚ along with its subsidiaries‚ operates in three segments:
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QUESTIONS KAPLAN PUBLISHING 1 PAPER F5 : PERFORMANCE MANAGEMENT SPECIALIST COST AND MANAGEMENT ACCOUNTING TECHNIQUES MANAGEMENT ACCOUNTING ‘In the broadest sense‚ all accounting is management accounting. All financial and cost information generated by accountants is of some interest to management. But‚ in practice‚ where management accounting differs from financial accounting ...’ (from An Insight into Management Accounting by John Sizer) Required: (a) (b) Give a brief definition of
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When direct labor is used as an allocation base for overhead‚ it is implicitly assumed that overhead cost is directly proportional to direct labor. When cost systems were originally developed in the 1800s‚ this assumption may have been reasonably accurate. However‚ direct labor has declined in importance over the years while overhead has been increasing. This suggests that there is no longer a direct link between the level of direct labor and overhead. Indeed‚ when a company automates‚ direct labor is
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very practical and therefore widely used costing system‚ in businesses that make a range of products which‚ although different‚ pass through standard and repetitive processes and machinery. Standard cost is the estimated cost of material‚ labor‚ overheads and other costs for each unit of production or purchase in a given accounting period. It is used as the benchmark against which cost variances and financial performance are measured‚ the valuation for inventory and a basis for pricing. It’s best
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Acct 3230 Quiz # 1 Name-------SOLUTIONS------------------------------ Winter 2011 1) On occasion‚ the FIFO and the weighted-average methods of process costing will result in the same dollar amount of costs being transferred to the next department. Which of the following scenarios would have that result? A) when the beginning and ending inventories are equal in terms of unit numbers B) when the beginning and ending inventories are equal
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assigning costs to masses of like or similar units. Unit costs are then calculated on an average basis. Process costing systems are used in industries that produce like or similar units which are often mass produced. In these industries‚ products are manufactured in a very similar way. The companies usually use the same amount of direct materials‚ direct manufacturing labor costs and manufacturing overhead costs (CliffNotes Study Guide‚ 1999). Industries that use process costing systems are
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1. Which criteria should be used in selecting orders? * While selecting the orders‚ there should be a proper coordination between Marketing and operations. If operation is estimating on the quote and the delivery date then Marketing should not over-write it without consulting operations. The people in operations can also be aware of the market conditions and the corporate goals. This can make less difference in the quote. * The job must fit with Ti-Tech’s high quality image and capabilities
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1). Fixed cost per unit decreases when: a. Production volume increases. b. Production volume decreases. c. Variable cost per unit decreases. d. Variable cost per unit increases. 2). Prime cost + Factory overhead cost is: a. Conversion cost. b. Production cost. c. Total cost. d. None of given option. 3). Find the value of purchases if Raw material consumed Rs. 90‚000; Opening and closing stock of raw material
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COSTACCOUNTING TERMS 1. Define cost object and give three examples Cost object is defined as “Anything for which a separate measurement of cost is desired”. The term cost object and cost objective is synonymous. Cost object may refer to a process‚ a cost centre‚ and cost units. Cost unit is a quantitative unit of product or service in relation to which cost are ascertained. Cost centre is a location‚ function or item of equipment in
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performance through setting up standards or formulating cost plans. Meaning of Standard When you want to measure some thing‚ you must take some parameter or yardstick for measuring. We can call this as standard. What are your daily expenses? An average of $50! If you have been spending this much for so many days‚ then this is your daily standard expense. The word standard means a benchmark or yardstick. The standard cost is a predetermined cost which determines in advance what each product or
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