Contract costing is a type of a specific order costing: Contractor costing is generally used for the works of constructional nature such as civil engineering works etc.‚ Each contract is considered as a separate unit of cost and a separate account is kept for each individual contract. The special features of contract costing are as detailed below: Materials: The materials purchased directly or issued from the stores or transferred from other contracts are recorded on the debit side of the
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BACKGROUND AND PURPOSE Goodwill Industries‚ Inc. has been helping people with disabilities and disadvantages in Minnesota since 1919. In 1984 Goodwill joined forces with Easter Seal to expand the school and reach of its mission. Goodwill provides‚ retail and technical sales training‚ employment services‚ and community programs. One half of Goodwill’s total revenues are derived from the resale of donated goods. Goodwill is interested in increasing the amount of revenue generated by their stores
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agricultural industry that operates by raising live pigs for slaughtering which will then be turned into pork for human consumption. Piggeries‚ as the firm is called‚ serve as a major food source in the Philippines‚ with the highest grossing per capita consumption among red meats. The industry is fairly attractive to investors as its high capital requirement and risky nature is effectively balanced out by the steady demand of a readily available market. The competitive structure of the industry consists
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INTRODUCTION Life cycle costing is one of the various techniques in strategic management. It is a procurement as well as production costing technique that considers all life cycle costs. Besides‚ it is also a tool to determine the most cost-effective option among different competing alternatives to do a project‚ when each is equally appropriate to be implemented on technical grounds.This report will discuss life cycle costing in the view of production costing technique. In manufacturing‚ the
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frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test: Answer Selected Answer: equals the marginal cost of the test Correct Answer: equals the marginal cost of the test Question 3 5 out of 5 points The flat-screen plasma TVs are selling extremely well. The originators of this technology are earning higher profits. What
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Project -1 - GOOD HOUSE KEEPING Saving cost through house keeping – Celebration’s apparel has managed to save a big amount of money by introducing a simple concept of wearing slipper on the production floor. The factory has got the shop floor area of 60‚000 sq. feet. To clean this area we need minimum of 6 House keeping employees to ensure that the Plant is clean. The cost of house keeping for the shop floor at present - |Salary of 1 cleaner |Rs.3900
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Xerox is an American-based company dealing majorly in sell of business services and products. Some of the services that the company offers include; 1. Transaction Processing Services – The services include creation of payrolls and debit cards used for swiping. 2. Generalized Printing Services – The Company performs printing of various documents on a large scale. 3. Xerox also offers cloud storage services for cooperation’s and law firms with high amounts of data. Apart from the services offered above
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Project Costing Juan Avila‚ Joseph Richard‚ Marlon Morales‚ Kristopher Mellinger‚ Nicholas Offutt CMGT 410 April 13‚ 2015 Patricia Anderson Cost Allocating Project Name: New Horizons Scope: Procuring and installing hardware Allocation of resources to project tasks (both labor and material) To ensure a project remains within the boundaries of its allocated budget‚ it is imperative to follow a plan that reflects an achievable goal. Organization in this case is paramount to promote accurate
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job-order costing system. The predetermined overhead rate is used for estimating the manufacturing overhead cost because companies cannot assign the actual overhead cost to specific job. From the case‚ Wall Décor uses a traditional job-order costing system. The actual costs of direct materials and direct labor are charged to its specific jobs which are unframed prints‚ steel-framed with no matting prints‚ and wood-framed with matting prints. As mentioned‚ predetermined overhead rate is based on estimates
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http://www.writework.com/essay/issues-product-costing-unimportant-virtual-organisations-o Issues of product costing are unimportant for virtual organisations that outsource production operations." Essay by hotsanjaysoni‚ B-‚ March 2005 The topic states that is product costing important for virtual organisations that are outsourcing their production operations. Virtual organisations are those corporation that operate in the world of e-business or e-commerce. A virtual organisation can be defined
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