TOTAL DIRECT LABOR COST VARIANCE CAN BE SPLIT INTO • Direct labor rate variance (P) Calculation: actual total labor costs - (total actual labor hours worked x budgeted labor hour rate) Interpretation: calculates the portion of labor costs variance driven by the changed labor rate per hour Possible reasons for variances: changes in staff qualification and skills‚ general increase of wages in economy‚ premiums paid to finish a job quickly‚ poor budgeting • Direct labor quantity (efficiency) variance
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Gentrification at a Cost “It’s a great neighborhood‚” a testament to Clybourne Park said by former resident‚ Kevin Taylor. Kevin was a small man‚ about 5’8”‚ grey haired and with a black bowler hat. He wears navy blue slacks‚ a red button up-shirt with a blazer over it. He walks with a slump in his step as though something is wrong but he doesn’t quite know what. He hadn’t lived in Clybourne Park for five years‚ moving out in July of 2011‚ during a period many refer to as heavy gentrification. In
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BreAnna Melter China-Section 6 Mini Research Paper When many people think of China‚ one of the first things that pops in their head is the One Child Policy. China’s One Child Policy was created in 1979 by Chinese leader Deng Xiaoping to temporarily limit communist China’s population growth. It has since then been in place for more than 32 years. China’s One Child Policy is basically China’s way of trying to limit population growth. It states that woman may not have more than one child‚ or families
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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?
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Wonders of Chinese Food The most popular Chinese dishes could be the next meal you might get to eat. The food is very unique and special for every Chinese person. Is not only the taste is also the story behind you might be missing from the wonders of China. The most popular dish that everyone can find anywhere they go is the Dumplings. They seem like white little puffy balls and are curious to see what’s inside them. The traditional dumplings are made with crab or pork meat and filled with piping hot
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Cost Volume Profit Analysis (CVP Analysis) 3.1 Introduction * CVP analysis is a systematic approach of examining the relationship between the changes in volume‚ cost‚ revenue and profit. The main objective of this analysis is to establish what will happen to the financial results if a specified level of activity fluctuates. * This analysis is useful especially to plan the future production and sales activity that will enable the firm to maximize profit and at the same time it
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SWOT Analysis – Peugeot in India and China 1. Internal Peugeot Group Strengths * Quantitative performance: * Over 3 million cars sold worldwide in 2009. * Over 1 million cars sold outside Europe in 2009. * World market share of 5%‚ Europe 13‚8%. * Sales increased 52% from 2008 to 2009 in China. * Committed to increase market share in China to 8% in 2015-16. * Double digit growth expected for sales in China this year‚ objective to sell 320‚000 cars
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and 3 research institutions. Martin Jacques goes into great detail of how rapidly China is growing. He makes projections that by 2050‚ China’s economy will be twice that of the United States’. HE explains how China is shaped by its civilization. Jacques also explains how “the hand of China” is why China stands out. He went into detail about China’s cultural identity. I learned from this video that China is very diverse. Xian Electric Engineering Co. will continue to grow in this rapid growing
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A Discourse by Three Drunkards on Government by Nakae Chomin explores the various values and ideas of three men‚ in regards to the future of Japan. This trio consists of the Gentleman‚ who enjoys Western ideals; the Champion‚ who prefers traditional Japanese values; and Master Nankai‚ a sage who enjoys to drink and talk politics among others. This story uses these characters‚ primarily the Gentlemen and the Champion‚ to represent political views that were present in Japan during the Meiji Period
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INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000
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