Chapter 1 – 8 Essay Question Review 1. Explain why an operating system can be viewed as a resource allocator. Ans: A computer system has many resources that may be required to solve a problem: CPU time‚ memory space‚ file-storage space‚ I/O devices‚ and so on. The operating system acts as the manager of these resources. Facing numerous and possibly conflicting requests for resources‚ the operating system must decide how to allocate them to specific programs and users so that it can operate the
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What is Cost & Management Accounting Reporting Systems? Cost Accounting Reporting System deals with the process of tracking‚ measuring‚ recording and classifying the appropriate allocation of expenditure (financial and non-financial) for the determination of the cost of product or service in an organization and for the presentation of suitably arranged data for the purpose of control and guidance of management (Horngren et al‚ 2010). Costs are measured in terms of Direct Costs‚ Indirect Costs and Overhead/Absorbed
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ACCOUNTING FOR BUSINESS II CHAPTER 1 COST SHEET Meaning And Scope of Cost Accountancy The term cost accountancy is wider than the term cost accounting. According to the Terminology of Management and Financial Accountancy Published by the Chartered Institute of Management Accountants‚ London‚ cost accountancy means‚ “the application of costing and cost accounting principles‚ methods and techniques to the science‚ art and practice of cost control. It includes the presentation of information derived
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decisions making‚ and control. An information system need not be a computerized system‚ but the use of computer in information systems can improve the efficiency of information collection‚ processing‚ storing‚ transformation and distribution. An accounting information system (AIS) is the information subsystem within an organisation that accumulates information from the entity’s various subsystems and communicates it to the organisation’s information processing subsystem. The information processing
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Chapter 1: data communications‚ data networks‚ and the internet TRUE OR FALSE T F 1. Data communications deals with the transmission of signals in a reliable and efficient manner. T F 2. There are several fundamental differences between data processing and data communications. T F 3. There are no fundamental differences among data‚ voice‚ and video communications. T F 4. Effective and efficient data communication and networking facilities are vital to
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Revenue (RM250x1000unit) 250‚ 000 Total cost (RM228x1000unit) 228‚ 000 Profit 22‚000 From a view of kettle : The total contribution lost is RM 22‚ 000 + RM 21‚ 000 = RM 43‚ 000 b) Make or continue buy Total cost of making Associated units making: Total cost of buying Associated units buying: The component RM 95 x 3000 unit RM285‚ 000 The decision is buy because cost of savingRM79‚ 000 (RM 346‚000 – RM285
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SREERAM COACHING POINT COST Management Test Questions & Suggested Solutions by L. Muralidharan‚ FCA.‚ Grad. CWA.‚ COST MANAGEMENT - TEST QUESTIONS & SOLUTIONS Question: 1 Bharata Ltd is considering proposals for design changes in one of a range of soft toys. The proposals are as follows: (a) Eliminate some of the decorative stitching from the toy. (b) Use plastic eyes instead of glass eyes in the toys (two eyes per toy). (c) Change the filling material used. It is proposed that scrap fabric
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TEST BANK CHAPTER 1 Intercorporate Investments: An Overview MULTIPLE CHOICE Use the following information on a company’s investments in equity securities to answer questions 1- 4 below. The company’s accounting year ends December 31. Investment Date of acquisition Cost Fair value 12/31/13 Date sold Selling price Ajax Company stock 6/20/13 $40‚000 $35‚000 2/10/14 $32‚000 Bril Corporation stock 5/1/13 20‚000 N/A 11/15/13 26‚000 Coy Company stock 8/2/13 16‚000 16‚500 1/17/14 23‚000
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Checklist for this Subject Test 1. Answer Books: No 2. Standard MC Answer Sheets: No 3. Calculator: Yes 4. Paper Dictionary: No 5. Open Book: No --------------------------------------- QUESTIONS START FROM HERE ------------------------------------- Question 1 (a) What Grace suggested doesn’t seem to be ethical. First of all the transfer of her personal property to the Company will simply overstate the Company’s asset. Secondly‚ when the expenses were hidden off
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Direct materials cost per unit ($750‚000 ÷ 10‚000) $ 75.00 Conversion cost per unit ($798‚000 ÷ 10‚000) 79.80 Assembly Department cost per unit $154.80 2a. Solution Exhibit 17-16A calculates the equivalent units of direct materials and conversion costs in the Assembly Department of Nihon‚ Inc. in February 2009. Solution Exhibit 17-16B computes equivalent unit costs. 2b. Direct materials cost per unit $ 75 Conversion cost per unit 84 Assembly Department cost per unit $159
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