Product costing assignment 1. (a) Split into fixed costs and variable costs‚ which are both allocated based on machine hours‚ but using separate rates. Also‚ make a distinction between the costs that are more directly related to the machines (e.g.‚ depreciation‚ electricity) and those that have been allocated to the machines from other cost centers. (b) Split total machine-related costs into three types: costs related to setup‚ production‚ and maintenance of the machines. For each type of
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Exercises (Group A) (15-20 min.) E 4-22A Req. 1 Plantwide overhead rate = Estimated total manufacturing costs Estimated cost allocation base = = $1‚150‚000 25‚000* direct labor hours = = $46 per direct labor hour *When calculating plantwide overhead rates‚ all direct labor hours incurred in the plant are used. (continued) E 4-22A Req. 2 Departmental overhead rate Machining Dept. overhead rate = = Finishing Dept. overhead rate Total department overhead
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ways that one can gain knowledge. One way is through personal experiences. By actually doing something‚ you know that through the experience you have in your mind. For example‚ you are walking through the living room and you stub your toe on the coffee table experiencing pain. This type of knowledge we pick up early in life. Another way we pertain knowledge is through someone else’s experiences. For example‚ like a teacher explaining something to a student like 2+2 equals 4 or c-a-t spells cat
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and become such a big part of the economy. What is it? Something no bigger than the size of a paper clip‚ the coffee bean. Nearly ninety five countries in the world depend on coffee exports for at least half of their exporting revenue. Only countries that have a warm‚ dry climate‚ are about 1‚500 meters above sea level‚ and within 1000 miles of the equator can productively grow coffee‚ giving countries like Brazil‚ Peru‚ and Columbia a comparative advantage. With such an advantage‚ one would think
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Target Costing on Mercedez – Benz Mercedes-Benz (MB) is one of the world ’s most successful car manufacturers since its establishment in 1886. They used target costing in the design and production of one of its products‚ the M-Class‚ which is a new sports utility vehicle model‚ in response to their first time suffering loss in 1993 because of cost inefficiency and problems with material purchasing and adapting to market changes. MB started developing a range of new products such as the C-Class
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Process Costing Objectives ☯To understand what is process costing ☯To understand the physical flow and basic entries in a process costing system ☯To be able to calculate the production cost able in a process costing system by using the the Weighted Average method 1 Comparison of Job-Order Costing and Process Costing JobJob-order costing The oil refining process starts with a fractional distillation column. Typical Application of Process Costing Process Costing Process
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ACKNOWLEDGEMENT In this assignment‚ we would like to take an opportunity to send our appreciation to the college due to a proper syllabus and good environment have been provided. Next‚ we would like to thank our Costing and Pricing lecturer‚ Mr.Balan for his generous help. We believe that we cannot create an excellent assignment without his advice and help. At the same time‚ we would like to express our thanks to those who helped us to carry this assignment successfully. Thank you very much
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The History of Coffee This is a summary of the long and celebrated history of the 2nd most traded commodity in the world (oil being the first). It is regarded by many as one of the most complex beverage on Earth. Here are a few fun facts about coffee: • Estimated 500 BILLION cups consumed yearly – ½ of that at breakfast time. • Largest consumed of the worlds “legal” drugs. • 100 million people depend of coffee for their survival. • Howard Schultz described coffee as being “A social romantic
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Chemistry of Coffee Green Coffee- Before coffee is roasted‚ it is referred to as “green coffee”. The green coffee is primarily made up of caffeine‚ lipids‚ carbohydrates‚ proteins (amino acids)‚ and organic acids (although inorganic acids exist in coffee as well). These groups are quite stable in the green phase‚ and it is the carbohydrates‚ proteins‚ and acids that will undergo significant reactions during roasting to produce coffee. The important groups of carbohydrates in beans are from the
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Coffee Coffee is the second largest traded commodity in the world‚ next only to petroleum and is popularly referred to as ’Brown Gold ’. Coffee is grown in about 80 countries across the globe‚ of which over 50 are considered to be the major producers. India is one of the major coffee producing countries and ranks sixth in the world after Brazil‚ Columbia‚ Vietnam‚ Indonesia and Mexico. With only about 2 per cent share in the global coffee area‚ India contributes about 4 per cent towards the world
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