Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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ACCG 399 Reflection Learning Log Lecture 1 Financial Accounting is highlighted in the lecture. There are two key points of financial accounting. Firstly‚ financial accounting is a process involving the collection and processing of financial information to meet the decision-making needs of parties external to an orgnisation. The other one is related to laws and accounting standards‚ external reporting‚ financial statements‚ values and material‚ independent audit opinion‚ overview general purpose
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BM6026 - Managerial Accounting & Finance Mini Assignment - Sem 1 2014/2015 Name : Suriati Binti Yusse Matric no : MB1412199T Class : Tuesday - 7.00PM - 10.00PM product selling price Variable Cost : Material : Extract of Tongkat Ali Other Ingredients Packing Material Overhead Cost : Drying cost of liquid Other Overhead Cost Labour Cost : Processing Packaging Total Variable Cost Unit Contribution Margin Expected volume sales % of total sales Weighted Contribution Q1 : capsule
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The Effect of a Four Phase Intervention Programme on Students’ Conceptual Understanding of Stoichiometry. Introduction Stoichiometry is one of the major concepts in chemistry. Conceptual understanding in stoichiometry is crucial for any student taking chemistry as a subject as many areas in chemistry are highly related to this conceptual understanding. Many previous researches found out that students poses a very low conceptual understanding and they also poses many alternative conception
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What is youth policy and how does it influence the work of youth workers? A ‘youth policy’ is the overarching framework of governmental (and sometimes non-governmental) activity directed towards young people: at‚ for and with them. (Williamson‚ 2007) The Youth Policy Framework just like all other policies contains set of documentations that provide knowledge and foundation to guide individuals
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Leadership Academy Leadership Framework A Summary © 2011 NHS Leadership Academy. All rights reserved. The Leadership Framework is published on behalf of the NHS Leadership Academy by NHS Institute for Innovation and Improvement‚ Coventry House‚ University of Warwick Campus‚ Coventry‚ CV4 7AL. Publisher: NHS Institute for Innovation and Improvement‚ Coventry House‚ University of Warwick Campus‚ Coventry‚ CV4 7AL. This publication may be reproduced and circulated free of charge for non-commercial
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profitability is the priority. According to Boatright (2003) the major factor in Enron scandal is an increased focused on share price; second important factor is the deregulation that occurred in the past two decades and the legal liability of accounting firms and investment banks was reduced‚ and third factor and most significant are simultaneous changes in the compensation structures for executives‚ accountants‚ and investment bankers. However‚ these factors‚ I believe were brought by the culture
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opinion‚ why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them? In my opinion the reason for this is that accounting equations must always balance and the two sides must always be equal. Each transaction has a dual
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3 Adjusting Accounts and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does
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