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 respect of which cost are ascertained. 2. Define cost accumulation
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staff since the recession—and pallets of merchandise are piling up in its stockrooms as shelves go unfilled. In the past five years the world’s largest retailer added 455 U.S. Walmart stores‚ a 13 percent increase‚ according to company filings in late January. In the same period its total U.S. workforce‚ which includes employees at its Sam’s Club warehouse stores‚ dropped by about 20‚000‚ or 1.4 percent. A thinly spread workforce has other consequences: longer checkout lines‚ less help throughout the
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1. Describe the role played by the following economic sectors: o Household They own the factors of production‚ which they supply to the market. The basic macroeconomic sector that includes the entire‚ wants and-needs-satisfying population of the economy. The household sector is the eating‚ breathing‚ consuming population of the economy. In a word "everyone‚" all consumers‚ all people. This sector includes everyone seeking to satisfy unlimited wants and needs. Members of the household sector
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opportunity cost of a choice is the value of the best alternative forgone‚ in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made‚ it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available.[1] The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative is chosen". Opportunity cost is a key
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Chapter 4-1 Activity-Based Costing Managerial Accounting Fifth Edition Weygandt Kimmel Kieso Chapter 4-2 study objectives Chapter 4-3 1. Recognize the difference between traditional costing and activity-based costing. 2. Identify the steps in the development of an activity-based costing system. 3. Know how companies identify the activity cost pools used in activity-based costing. 4. Know how companies identify and use cost drivers in activitybased costing. 5. Understand the benefits
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Case Study: Cost Justified Managers face many challenges in the day to Day operations of their business. Often times some of the greatest challenges come from within their own ranks‚ as superior managers use their position and influence to coerce one to make decisions or commit acts that are sometimes on the boundaries of the law and often cross the ethical line. In the case of “Cost Justified‚” we are introduced to Joe‚ the District
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Pfc Chew David 20140614 Deadlines I have never worked in any job were it is acceptable to miss deadlines. Deadlines should never be disregarded as they are. I can offer no explanation as to why people routinely complain about instructors who do not return graded tests and papers when promised; faculty routinely complain about colleagues who neglect to complete their work on time; and I have seen administrators that simply plead with faculty‚ time and again‚ to complete long-overdue assessments
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Name: Gem Clouwin M. Ajon Activity No. : 4 Activity Title: Sentence Activity Introduction: A sentence is a grammatical unit consisting of one or more words that are grammatically linked. A sentence can include words grouped meaningfully to express a statement‚ question‚ exclamation‚ request‚ command or suggestion. As with all language expressions‚ sentences might contain function and content words and contain properties distinct to natural language‚ such as characteristic intonation and timing
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In your own words‚ describe the overall goal of the storyboarding activity. The storyboarding was to demonstrate of how a muscle contracts and how it goes back to relaxation‚ but more importantly how each part does it function for this to happen. I was a little confuse about how the process happens‚ but I’m the type of person that can learn more when I have a visual so I think it was really helpful to to do the storyboarding. In today’s labs I learned how the channels open and releases and let in
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Costs and Consequences: Sweated Labor and Consumer Bargains Introduction: In order to make a wide variety of goods available at ever-decreasing prices or to maintain profits‚ retailers rely on low labor costs and working conditions that are often illegal in the United States. Tasks: Based on the information in the "Student Voice" section of Chapter 2‚ pp. 18–20‚ of your textbook‚ would you stop shopping at certain retailers? Is the consumption of food and clothing somehow different from the
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