Allocation of Fixed Costs ACC 403 Principles of Accounting The articles describe two different approaches: Lean accounting and activity based costing. Both have pros and cons and the selection of "what is best for allocating IT" likely rests with the culture and types of businesses. I personally believe that activity-based costing‚ which essentially casts IT as a variable cost‚ making users sensitive to the requests they make of IT because every request is an incremental cost to their
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Big Bend Jacob Nelson Big Bend Jacob Nelson Big Bend national park is a place for geologistes and biologistes. With a great history and diverse ecosystem (desert) it has a lot of wildlife. The canyons and mountains of Texas and Mexico‚ with the Rio Grande that runs on the edge of the park. The park is bigger than Rhode Island. The state of Texas is the second biggest state. It became a state on Dec. 19 1876. The capital of Texas is Austin. Millions of tourists spend a total of $50 billion
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There are places in the world that take your breath away and make you feel alive all at once. Big Bend National Park is one of these places. Despite what many people think‚ Big Bend has more to offer than just deserts‚ cacti‚ and zero wifi. It is filled with beautiful wildlife and splendid mountains. My aunt used to live and work there as a park ranger and seeing her so little during the year made our visits over Christmas break that much more meaningful. One of those times sticks out in my mind
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allocate service department costs to “production” or user departments‚ and ultimately to the products and services that they provide. For example‚ hospitals use sophisticated methods for allocating costs of service departments such as Housekeeping‚ Patient Admissions‚ and Medical Records to patient wards and outpatient services‚ and then to individual patients. Historically‚ these allocations were important to hospitals because Medicare reimbursement was based on actual costs. To the extent that the
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allocate costs? How do companies allocate costs? And how this cost allocation can affect the decision making of the company. It is important for the companies to find the proper method to allocate the costs. Cost allocation is an important issue in many companies because many of the costs associated with designing‚ producing and distributing products and services are not easily identified with the products and services that are created. It would have been easier for companies to allocate cost if costs
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the unfair headquarters’ overhead cost allocation method of Korea insurance company. There are concerns towards the system by a manager. And that lead to reduce on net income of branches. Jin Kim is trying to develop more efficient systems. The reading text is about the headquarters’ cost allocation method of Korea insurance Co. Inc. Jin Kim‚ manager of the company‚ accused that the costing systems is inefficient as it leads to decrease in incremental cost inappropriately and discourages employees
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Cost Allocation at Water Purification Group Mary May pushed the door to her office thinking about her plan to enrol her daughter for a medical degree at a private university. The private university is the only institution of higher learning that her daughter can apply for‚ considering her high school results. Mary sat down at her table and a smile came to her lips. Her financial situation will definitely improve after the company‚ Bio-Organics‚ announce this year’s bonuses. Project ORG7 she
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Medical Costs and the Impact on Us Professor Robert Hudson from the London School of Economics define the indifference curve as a graph showing different bundles of goods between which a consumer is indifferent. That is‚ at each point on the curve‚ the consumer has no preference for one bundle over another. One can equivalently refer to each point on the indifference curve as rendering the same level of utility (satisfaction) for the consumer. Utility is then a device to represent preferences
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Joint-cost allocation. Elsie Dairy Products Corp. buys one input‚ full-cream milk‚ and refines it in a churning process. From each gallon of milk Elsie produces three cups of butter and nine cups of buttermilk. During May 2010‚ Elsie bought 12‚000 gallons of milk for $22‚250. Elsie spent another $9‚430 on the churning process to separate the milk into butter and buttermilk. Butter could be sold immediately for $2.20 per pound and buttermilk could be sold immediately for $1.20 per quart (note: two
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Regional Medical Center (WFRMC)‚ a large-for-profit hospital. This facility is located in Pensacola‚ an area with intense competition and tons of services. He is evaluating a continuous quality (CQI) program that the hospital has implemented in order to address issues of improvement in outcomes. WFRMC also owns and operates an off-site psychiatric facility with 89 beds and the 58 bed Rehabilitation Institute of West Florida. WFRMC is currently in the process of constructing their new cancer center. WFRMC
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