COST ACCOUNTING-MMS FORMAT OF COST SHEET Opening stock of Raw Material XX Add: Raw material purchased XX Less: Closing Stock of Raw Material XX Raw Material Consumed ZZ Direct Labor XX Direct Expenses. XX PRIME COST ZZ Add: Factory Overheads: Indirect Material XX Indirect Labor XX Indirect Expenses XX GROSS WORKS COST/FACTORY COST ZZ Add: Opening WIP XX Less: Closing WIP XX COST OF GOODS MANUFACTURED
Premium Revenue
SOAL LATIHAN CHAPTER 18 ASISTENSI COST ACCOUNTING UNIVERSITAS BAKRIE 1. 18-16 The following data‚ in physical units‚ describe a grinding process for January : WIP‚ beginning 19‚000 Started during current period 150‚000 To account for 169‚000 Spoiled units 12‚000 Good units completed and transferred out 132‚000 WIP‚ending 25‚000 Accounted for 169‚000 Inspection occurs at the 100% completion stage. Normal spoilage is 5 % of the good units passing inspection
Premium Costs Units of measurement Cost accounting
ADM 3346A COST ACCOUNTING Solution Fall 2010 Midterm Examination STUDENT NAME: _________________________________________________ STUDENT NUMBER: ________________________________________________ 90 minutes INSTRUCTIONS 1. 2. 3. 4. Books and notes are not permitted‚ except language dictionaries. Non programmable calculators are permitted. Put all answers in the question booklet Questions concerning possible errors in the exam only will be answered. Questions Max Points
Premium Costs Management accounting Variable cost
11. A total variance is best defined as the difference between total a. actual cost and total cost applied for the standard output of the period. b. standard cost and total cost applied to production. c. actual cost and total standard cost of the actual input of the period. d. actual cost and total cost applied for the actual output of the period. 12. The term “standard hours allowed” measures a. budgeted output at actual hours. b. budgeted output at standard hours. c. actual output
Premium Cost accounting Inventory Costs
1/ Variable Costs: The variable cost will be 40% higher [ an increase of 21‚000 - 15‚000=6‚000 units] Direct Material used 1‚060‚000 Variable Costs: Direct Labor 1‚904‚000 Direct material used [ 1‚060‚000 *1.4] 1‚484‚000 Unit costs [ 6‚335‚600 / 21‚000] =$ 301.7 Indirect Materials and supplies 247‚000 Direct Labor [ 1‚904‚000 * 1.4] 2‚665‚600 Variable Cost/ Unit = 228.27 at both 15k & 21k units Power to run plant eqip 213‚000 Indirect Materials
Premium Variable cost Costs Fixed cost
More and better choices for consumers and firms Lower prices of goods for consumers and firms Higher profits and better worker wages (because imported input goods are usually cheaper) Higher living standards for consumers (because their costs are lower) Greater prosperity in poor countries Copyright © 2012 Pearson Education‚ Inc. publishing as Prentice Hall 6-5 Comparative Advantage • The foundation concept of international trade; answers the question of how nations can achieve
Premium International trade Economics
Types of costs Classification of costs: • Materials – costs of raw materials‚ components and other goods used. • Labor – cost of employees wages and salaries. • Expenses – costs which cannot be included in materials and labor. Variable costs – these costs varies directly with changes in the level of quantity‚ over a defined period of time. Fixed costs – are not affected by the changes in the level of activity‚ over a defined period of time. Semi variable costs – for example
Premium Marginal cost Variable cost Costs
KOTLER RESUME Marketing Management Philip Kotler – Kevin Lane Keller SUMMARY PART 1 Understanding Marketing Management 4 Defining Marketing for the 21st Century 4 Developing Marketing Strategies and Plans 5 PART 2 Capturing Marketing Insights 13 Collecting Information and Forecasting Demand 13 Conducting Marketing Research 16 PART 3 Connecting with Customers 18 Creating
Premium Marketing
additional costs incurred. Actual variable costs increased from $218 to $247.50‚ causing an unfavourable flexible-budget variable cost variance of $59 457. The next section‚ 3.2 Variable and Fixed Variance Analysis‚ will look into the specific causes of this increased in cost and resources consumed. Understanding the reasons why actual results differ from budgeted amounts can help Barnes better manage its costs and pricing decisions in the future. If Barnes have not been able to pass these costs on to
Premium Variable cost Costs Cost
Introduction to Financial Accounting Horngren | Sundem | Elliott | Philbrick Recording Transactions 11e Chapter 3 Learning Objectives Use double-entry accounting 2. Describe the five steps in the recording process 3. Analyze and journalize transactions and post journal entries to the ledgers 4. Prepare and use a trial balance 1. Copyright © 2014 Pearson Education‚ Inc. Publishing as Prentice Hall. 3-2 Learning Objectives Close revenue and expense accounts and update retained earnings 6.
Premium Double-entry bookkeeping system Balance sheet Revenue