11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
Premium Revenue Costs
through the model of profit maximization or organization as black-box. Therefore my TCE analysis is restricted to the current internal project GRMS FAO(2012) [3] as one of technical team leader. However I will focus about internal GRMS project managed by AF (Corporate services and procurement‚ human Resources and finance divisions) and CIO IT divisions. GRMS project is about the implementation of IPSAS (international accounting standard) and the extension of ERP processes and services to all worlds’
Premium Contract Transaction cost Cost
Agency Costs of Free Cash Flow‚ Corporate Finance‚ and Takeovers Michael C. Jensen Harvard Business School MJensen@hbs.edu Abstract The interests and incentives of managers and shareholders conflict over such issues as the optimal size of the firm and the payment of cash to shareholders. These conflicts are especially severe in firms with large free cash flows—more cash than profitable investment opportunities. The theory developed here explains 1) the benefits of debt in reducing agency
Premium Corporate finance
following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
Premium Costs Variable cost Cost
Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
Premium Cost Costs Cost accounting
Cost Control of Projects: An Introduction to Earned Value Analysis Abstract Earned value analysis is a method of performance measurement. Many project managers manage their project performance by comparing planned to actual results. With this method‚ one could easily be on time but overspend according to the plan. A better method is earned value because it integrates cost‚ schedule and scope and can be used to forecast future performance and project completion dates. It is an “early warning”
Premium Management Project management Costs
Assignment 3 – British Petroleum and the Delay of Maintenance By Avaninder Gill Review the Main Features of the Case British Petroleum‚ now known as simply BP‚ is a multinational oil and gas company that is headquartered in London‚ England. On March 23‚ 2005‚ a series of massive explosions devastated one of the largest British Petroleum refineries located in Texas City. The blast rattled windows in downtown Galveston‚ 20 miles away and was even felt in Houston‚ 35 miles distant
Premium Oil refinery Stakeholder Stakeholder analysis
3004ENG PROJECT MANAThGEMENT PRINCIPLES THE CHUNNEL PROJECT Project Background * Objective is to create an underground tunnel connecting England and France * Create a fixed transportation link between England and France in an attempt to spur economic development‚ improve European trade‚ and provide an alternative high-speed transportation method. * Requires cooperation between two countries‚ numerous banks‚ contractors‚ etc to initiate‚ plan‚ executive and complete the project.
Premium Cost Cost overrun Costs
networks to reduce telephone and facsimile costs and to set the stage for advanced multimedia applications and services such as unified messaging‚ in which voice‚ fax‚ and e-mail are all combined. [Include description of selected VoIP product(s) or solution(s) here‚ including features‚ benefits‚ etc.] This business case explores the opportunities and benefits that can be realized in the deployment of VoIP product(s) or solution(s)‚ as well as the costs and associated risks involved. However‚ the
Premium Investment Rate of return
Chapter 8 Cost Estimation and Budgeting 8.1 True/False 1) Direct costs are those clearly assigned to the aspect of the project that generated the cost. Answer TRUE 2) Material is an example of a cost that is recurring‚ variable and direct. Answer TRUE 3) An expedited cost is one that does not vary with respect to their usage. Answer FALSE 4) An order of magnitude estimate is usually more accurate than a ballpark estimate. Answer FALSE 5) Comparative estimates are more accurate than definitive
Premium Costs Cost Variable cost