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
Chapter 10 - Vocabulary alist (adj.): tilted to one side articulate (adj.): able to speak and express oneself attributes (n.): characteristics; qualities of a person or thing bout (n.): fight corncribs (n.): A corncrib is a small structure used to store corn. crook (of his arm) (n.): The crook of your arm is the inside part of your arm where it bends at the elbow. erratically (adv.): strangely; differently than normal feeble (adj.): weak; frail gingerly (adv.): carefully; cautiously inconspicuous
Premium Bankruptcy in the United States
Ronald Coase noted‚“The cost of doing anything consists of the receipts that could have been obtained if that particular decision had not been taken.” For example‚ the opportunity set for this Friday night includes the movies‚ a concert‚ staying home and studying‚ staying home and watching television‚ inviting friends over‚ and so forth. The opportunity cost of taking job A included the forgone salary of $102‚000 plus the $5‚000 of intangibles from job B. Opportunity cost is the sacrifice of
Premium Costs Parking Variable cost
total desktop operating system market share (NetMarketShare‚ 2013). These operating systems run our home and work computers. Server versions of these operating systems run Internet web pages‚ corporate databases and file servers. Mobile versions of these operating systems run our personal smart phones and tablets. Soon‚ we may see a Linux-based ecosystem in vehicles. What is known as Automotive Grade Linux‚ a sub group of the Linux Foundation‚ “is providing a common operating system and application
Premium Operating system
The River Between Chapter 1: - Setting: valley of life separating 2 villages: Kameno and Makuyu - Honia River (important element‚ a character?) flows through this valley‚ this river joined the 2 villages - The ridges personify the antagonism between the 2 tribal groups - Kameno had produced 3 great men: Mugo the prophet‚ Kamiri the witch and Wachiori the warrior - Theme of isolation: cut out from the rest of the world. Chapter 2: - Kinuthia and Kamau‚ 2 young boys are fighting - Waiyaki
Premium Circumcision Family White people
does not vanish after some time. * It is possible to reach potential customers using the organization’s promotion and distribution channel. * It responds consistently to a given market stimulus. * It can be reached by market intervention in a cost-effective manner. * It is useful in deciding on the marketing mix. What are the main ways of segmenting a market? There are quite a number of potential market segmentation bases (also referred to as segmentation variables)‚ which an organization
Premium Marketing Psychographic
CHAPTER 10 PAYROLL TAXES Discussion Questions 1. What type of compensation is subject to employer withholding? Answer: Wages subject to withholding include all pay given to employees for services performed. The wages include salaries‚ vacation allowances‚ bonuses‚ commissions‚ and possibly fringe benefits. 2. Who completes Form W-4 and what is its purpose? What information does it provide to employers? Answer: The Form W-4 is completed by the employee at the beginning
Premium Taxation Tax Taxation in the United States
COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with recording
Premium Costs Variable cost Management accounting
minimum of code changes. At a time when different computer lines of the same vendor didn’t talk to each other -- yet alone machines of multiple vendors -- that meant a great savings in both hardware and software upgrades. It also meant that the operating system could be upgraded without having all the customer’s data inputted again. And new versions of UNIX were backward compatible with older versions‚ making it easier for companies to upgrade in an orderly manner.
Premium Unix Operating system Linux
Accounting for Managers 3. BUDGETING When you have completed this section‚ you should be able to: • Explain the benefits of budgeting • Describe a budgeting process • Explain the difference fixed and flexible budget • Prepare a simple flexible budget from a fixed budget • Compute variances from budget and actual data • Prepare a cash budget • Explain the setbacks of traditional budgeting • Explain the problems of budgetary slack • Explain the impact of globalization to the budgeting process
Free Budget Budgets Cash flow