Chapter 13 Test Notes CONTROL CYCLES-A GENERAL MODEL A general model of organizational control includes four components that can operate in a continuous cycle and can be represented as a wheel. These elements are: 1. Setting a goal. Project goal setting goes beyond overall scope development to include setting the project baseline plan. The project baseline is predicated on an accurate. Work Breakdown Structure (WBS) process. Remember that WBS establishes all the deliverables and work packages
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Chapter 11 The criteria used by Fortune to rank the top global companies were revenues. These companies were not ranked by profit. In fact‚ Fannie Mae‚ ranked internationally as Global 500’s 26th company should a profit loss. The US holds 7 positions of the top 25 companies while China only holds 3 positions and Japan only 2 positions. I was surprised by this because media causes us to believe that China and Japan are taking over US industry and profits. Not surprisingly‚ 14 of the top 25
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5. Van Buren‚ squired into office by the close popular vote but by the comfortable margin of 170 to 124 votes (for all the Whigs combined) in the Electoral College N. Big Woes for the “Little Magician” 1. Martin Van Buren‚ eighth president‚ was the first to be born under the American flag 2. An accomplished strategist and spoils man—the “wizard of Albany”—he was also a statesman of wide experience in both legislative and administrative life 3. From the outset the new president labored under sever
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Solution to Problem 7-13 1. Computation a. Unit product cost under absorption costing Per unit Direct materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3.50 Direct labor . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12.00 Variable manufacturing overhead . . . . . . . . . . . . 1.00 Fixed manufacturing overhead . . . . . . . . . . . . . . . 10.00 Unit product cost . . . . . .
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Running head: ACTIVITY BASED COSTING CASE Activity Based Costing Case David Welch University of Phoenix Accounting Capstone ACC/594 Tom Myers February 1‚ 2010 The selection of the right cost calculation method is of critical importance when it comes to determining the real product profitability. Activity Based Costing is one approach that can be used. Activity based costing is a managerial accounting system that determines the cost of activities without distortion and provides management
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Ch. 13 Free Response Questions Write an essay that: * Has an explicitly stated thesis that directly answers the question and DOES NOT simply repeat or rephrases the question. This can be done in a paragraph. * Addresses all parts of the question * Supports thesis with specific evidence * Is well organized Analyze the impact of Renaissance humanism on the following: * Education (Yellow) * Women (Blue) * Politics/statecraft (Green) Consult your textbook‚ supplemental
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CH. 13 Notes Nomadism in C Asia nomadism is a way of life forced by a scarcity of resources Nomadic groups have the lowest pop. Desnsity In time of droughts conflicts increase Result extermination alliances frequent out migration Everyone was full time herdsman hunter and warrior Mongol superb riders Can shoot while galloping Leader = khan Khan’s decision ratified by a council Completion for resources reinforced slavery and tribute in C. Asia Some become slaves so
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A Self Reflection: While working on the communication project‚ we were fortunate to have had Ron Howard’s “Apollo 13” movie for reference to comprehend the complexity the team faced upon the incident that befell the mission. Both Gene Kranz (Lead Flight Director and Project Manager) and Jim Lovell (Apollo’s commander) maintained absolute control of a chaotic situation. While the team was becoming intractable‚ Kranz reigned in by channeling the ideas with “one at a time people” and asking his engineers
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Case 13-4 Application of SFAC No. 13 1) On January 1‚ 2006‚ Lani Company entered into a noncancelable lease for a machine to be used in its manufacturing operations. The lease transfers ownership of the machine to Lani by the end of the lease term. The term of the lease is eight years. The minimum lease payment made by Lani on January 1‚ 2006‚ was one of eight equal annual payments. At the inception of the lease‚ the criteria established for classification as a capital lease by the lessee were
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Chapter 13 Segment and Interim Reporting Multiple Choice Questions Wakefield Company uses a perpetual inventory system. In August‚ it sold 2‚000 units from its LIFO-base inventory‚ which had originally cost $35 per unit. The replacement cost is expected to be $45 per unit. The company is planning to reduce its inventory and expects to replace only 1‚500 of these units by December 31‚ the end of its fiscal year. The company replaced 1‚500 units in November at an actual cost of $50 per unit
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