Absorption and marginal costing (Relevant to AAT Examination Paper 3: Management Accounting) Li Tak Ming‚ Andy Deputy Head‚ Department of Business Administration‚ Hong Kong Institute of Vocational Education (Kwai Chung) Introduction Absorption costing and marginal costing are alternative cost accumulation systems used to ascertain product or job costs for inventory valuation and cost of sales. Absorption costing Absorption costing includes both variable and fixed production costs in the
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Construction. Gary Porter Construction‚ Inc. performed their work based on specific plans as well as some work outside of the plans. The combined total from the planned project was $146‚740. The additional work completed at Fox’s request cost Gary Porter construction additional costs and Fox refused to pay for the additional work done outside the subcontract. Procedure: A suit was filed by Gary Porter in the Utah State Court against Fox with alleging breech of an implied-in-fact contract. The court granted
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ADVANTAGES OF KAIZEN COSTING There are certain basic principles which are followed in various Japanese companies which are listed below: - 1) Focus on customers: The Kaizen philosophy has only one prime objective of customers’ satisfaction. Kaizen permits no middle ground its either you provide best products and customer satisfaction or not. All the activities should aim at providing customer with whatever he wants and should help the firm long term objective of customers’ satisfaction at
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English as an Additional Language (EAL) English as an Additional Language (EAL) emanaid emanaid Contents Introduction 2 What are Schools’ Responsibilities for Inclusion under the National Curriculum? 2 What is an EAL learner? 3 Inclusion for EAL Learners and How Their Needs are Met 5 Factors that Impact on the Quality of Inclusion within the Classroom 6 The Role of Assessment to Provide a Baseline of Information to Support AFL 7 Access and Engagement Strategies Relevant to
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Nora Thomson Children and Young People with Additional Support Needs DF55 34 12.10.2012. Part A Dyspraxia Definition Problems caused by dyspraxia‚ also known as developmental co-ordination disorder. Dyspraxia specifically relates to the development of a child’s motor skills (their ability to make smooth‚ co-ordinated movements). Causes and incidence The exact causes of dyspraxia in children are unknown‚ it is thought to be caused by a disruption in the way messages from the brain are
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Process costing is used for homogenous products (continuous flow processes such as producing cans of soda). Job-order costing is used in situations where the organization offers many different products or services‚ such as in furniture manufacturing‚ hospitals‚ and legal firms. Process costing is used where units of product are homogeneous‚ such as in flour milling or cement production. The purpose of a job order cost accounting system is to assign and accumulate costs for each job‚ i.e
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ACTIVITY BASED COSTING CASE STUDIES (7-64 & 7-65) Submitted to: Dr. Felix D. Cena‚ CPA‚ MBA Management Account I Professor Submitted by: Neil Derrek M. Dullesco Dan Carlo D. Poblacion COMA4B CASE 7-64 1. Identify the flaws associated with the current method of assigning shipping and warehousing costs to Sharp’s products. Shipping and warehousing costs are currently assigned using tons of paper produced‚ a unit-based measure. Many of these costs
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Cost Variance 440 UF Labor Cost Variance 4‚200 F Labor Rate Variance 8‚400 F Other Data: • The company paid P0.10 more than the standard price. • Two (2) pieces of materials are required per unit of product. • An overabsorbed capacity of 200 units of product were noted when actual production ws compared with the normal volume of 8‚000 untis. • Payroll showed total labor cost of P168‚000. • Workers are usually paid at an average of P4.20‚ though the records showed that the
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Marginal Costing is ascertainment of the marginal cost which varies directly with the volume of production by differentiating between fixed costs and variable costs andfinally ascertaining its effect on profit. The basic assumptions made by marginal costing are following: - Total variable cost is directly proportion to the level of activity. However‚ variable cost per unit remains constant at all the levels of activities. - Per unit selling price remains constant at all levels of activities. -
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Additional Support Needs and the Medical and Social Model of Disability The Additional Support for Learning Act was introduced in Scotland in November 2004. This Act introduced the concept of additional support needs and placed the responsibility for identifying‚ planning and making provisions for children with complex or multiple additional support needs onto educational authorities. This essay is going to discuss additional support needs and the ways in which they can impact on pupils learning
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