Costing and Cost Accumulation in a Batch Production Environment ANSWERS TO REVIEW QUESTIONS 3-1 (a) Use in financial accounting: In financial accounting‚ product costs are needed to determine the value of inventory on the balance sheet and to compute the cost-of-goods-sold expense on the income statement. b) Use in managerial accounting: In managerial accounting‚ product costs are needed for planning‚ for cost control‚ and for decision making. c) Use in cost management: In order
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Welcome them- hello‚ how can I help you today? Ask questions Do you have any particular interest in a hotel in Dubai in which you want to go to? Say a few hotels in which you think will be appropriate for them because of the facilities they offer for families especially with children of this age. Before we do this can I just ask you to give a brief summary on what you would be looking to do within the holiday for you all to enjoy it? In which will help me classify a hotel which is suitable
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|ACC601: Managerial Accounting | | | | | |Role and Practices in Management Accounting Today | | | |
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1. Which of the following statements is true about hedge accounting under U.S. GAAP? a. If a derivative qualifies as a cash flow hedge‚ a company may choose to account for it as a fair value hedge. 2. When a currency is allowed to increase or decrease in value relative to other currencies‚ the currency is said to: a. Float 3. What has occurred when one company purchases the right to buy a foreign currency some time in the future at an exchange rate quoted today? a. the company has acquired
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Sales Scenarios - Assume that Xian is a new hired outdoor sales executive for company Lennon Design which provide one stop solution for T-shirt and Uniforms supply. We get an introduction from our existing customer who name Ms Ong that her friend Ms Lim factory have a sports day event by next two month. Now Xian had appointment with the purchases in-charge person Ms Lim‚ try to approach her to purchases our product to her event uniform. Xian:" Hi Ms Lim‚ I am Xian from Lennon Design‚ nice to meet
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Question 1 Product costs are costs that are associated with manufactured goods until the time period during which products are sold. It involved all costs in acquiring or making a product. These costs consist of direct materials‚ direct labour and manufacturing overhead. Product costs are initially assigned to an inventory account on the balance sheet. When the goods are sold‚ the costs are released from inventory as expenses and matched against sales revenue. Since product costs are initially
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E -11 DM 5 DL 4 VMO 3 FMO = 180‚000/50‚000 = 3.6 Total = 15.6 15.6 * 5‚000 (50‚000-45000) = 78‚000 E-12 DM 5 DL 4 VMO 3 Cost per unit = 12 $ EIV = 12 * 5000 = 60‚000 E-13 Difference 3.6 * 5000 = 18‚000 And 78‚000 – 60‚000 = 18‚000 E-14 CGS sold = 45000(sold) * 15.60 = 702‚000 E15 12 * 45000 = 540‚000 E16 Sales = 30 * 45‚000 = 1‚350‚000 CGS 702‚000 CM 648‚000 Less S & admin. 160‚000 Net income 488‚000 E17 Sales =
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Adventure Time with Finn and Jake “Loyalty Counts” GRADE IV-BROWN S.Y. 2012-2013 (LOYALTY binds Friendship) Prepared by: Teacher Jean Albie T. Balais Class Adviser ------ (Sing Adventure Time Theme song)--------------- •Narrator: Finn and Jake are having tea with Princess Bubblegum when a horrible witch came. Finn: (with a sword) What do you want evil witch? Witch: I just want to read your future--- I dreamed about you last night and I’m here to give you a prophesy. Princess Bubblegum: Don’t believe
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Exercise 2-2 | | |Product |Period Cost | | | |(Inventoriable) Cost | | |1. |Depreciation on salespersons’ cars | |X | |2.
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the framer of the nursing profession; she was also a pioneer of social entrepreneurship‚ even before J. G. Simon established the term of a non-‐profit organization. Symptoms • Nurses were not considered professionals in the mid 1800s and even had a bad stigma. Hospitals placed their patients in danger
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