costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
Premium Balance sheet Inventory Manufacturing
The lecture last night discussed accrual accounting concepts such as timing issues‚ and the basics of adjusting entries. The discussion went into more detail on periodicity assumption and how accounting divides the economic life of a business into artificial time periods. These time periods are generally a month‚ a quarter‚ or a year‚ now whether it is a fiscal year or a calendar year that is determined by the company itself. The lecture then reviews the revenue recognition principle which expects
Premium Generally Accepted Accounting Principles
Comparing Accounting Software Programs to Manual Accounting Manual accounting uses several paper ledgers to record financial transactions. It is very time consuming to record each single transaction onto paper‚ being very cautious not to make an error. There are several ledgers for each part of the accounting system‚ such as accounts payable‚ accounts receivable‚ and revenue accounts. Combining these ledgers into one general ledger‚ provide the balance for each ledger. The general ledger
Premium Accounting software Accounts receivable Accounts payable
All African-American studies express to the broader meaning of being an African- American existing in America. In the antebellum and postbellum periods in the United States‚ both Leroi Jones and Du Bois express the history of being black and American under slavery‚ justice and salvation to freedom. They both speak of the oppression of the black people in different narrative forms. Leroi Jones‚ in his book Blues People‚ discusses how the Africans were treated in the America. Before the emancipation
Premium African American Black people Race
References: Warren‚ C.‚ Reeve‚ J.‚ and Duchac‚ J (2007). Accounting. 23rd ed South-Western‚ cengage learning in thousands except share data | January 3‚ 2009 | December 29‚ in thousands except share data | December 29‚ 2007 | December30‚
Premium Balance sheet Generally Accepted Accounting Principles
University of Central Oklahoma CRI-DU-CHAT SYNDROME By James Truby May 3‚ 2006 BIO 2233 Heredity Paper Assignment CRI-DU-CHAT SYNDROME (CDCS) Cri-du-chat syndrome (CDCS) refers to a unique combination of physical and mental characteristics associated with a loss of genetic material on the distal short arm of the fifth chromosome. This loss of genetic material is referred to as a deletion. CDCS is also called 5p- syndrome (5p-S)‚ 5p monosomy‚ or Cat Cry syndrome which was
Premium Chromosome
Accounting for Managers TOPIC A: AN INTRODUCTION TO ACCOUNTING Investors – Individual and groups provide initial capital. Creditors – Company which loans money to another company (Suppliers/Bank). Managers – Oversee the day-to-day operations. What is accounting? * Process of Recognising‚ measuring‚ recording (also known as transactions)‚ disclosing and attesting to information. *Information – Decision Making (Value Creation)‚ Control (Monitoring). Process of Accounting: Transactions
Premium Balance sheet Generally Accepted Accounting Principles International Financial Reporting Standards
Corporate Social responsibility: Shell Oil-Nigeria Case Study By Fatorma Bolley Abstract Corporate Social Responsibility‚ CSR has become an important element in the business strategy of a growing number of companies worldwide. A large number of initiatives have been developed that aim to support companies in developing‚ implementing‚ and communicating about CSR‚ Shell
Premium Royal Dutch Shell
explanation or discussion. I’m here to help. Thomas Uskali Written Assignment Grading Form for Personal Responsibility Essay Statement‚ Due Week Five Content and Development 6 Points | Points Earned 5.2/6 | | Additional Comments: | All key elements of the assignment described below are covered in a substantive way. | | Write a 1‚050- to 1‚100-word paper expanding your Personal Responsibility Essay by incorporating feedback from your facilitator and teammates‚ and including the following: An
Premium Learning Education Responsibility
Brasserie du Pêcheur SA v Federal Republic of Germany Brasserie du Pêcheur SA is a French brewery. Until 1981‚ it exported beer to the Federal Republic of Germany. In late 1981‚ however‚ it was forced to discontinue the exports. Federal Republic of Germany objected that the beer Brasserie produced did not comply with the German Reinheitsgebot (purity requirement) laid down in the Biersteuergesetz (Law on Beer Duty). Article 34 of TFEU (Art. 28 of TEC) Quantitive restriction on
Premium Germany European Union Law