Fundamentals of Cost and Management Accounting Part Four: Allocation of Support Department Costs‚ Common Costs and Revenues Exercise No. 4 الاسم: الرقم الأكاديمي: رقم الشعبة: Choose the best answer for every question of the following questions: 1) Max’s Movie Store encounters revenue-allocation decisions with its bundled product sales. Here‚ two or more of the movie videos are sold as a single package. Managers
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EXERCISE 14-1 (15-20 minutes) Valuation account relating to the long-term liability‚ bonds payable (sometimes referred to as an adjunct account). The 3‚000 would continue to be reported as long-term. Current liability if current assets are used to satisfy the debt. Current liability‚ 200‚000 long-term liability‚ 800‚000. Current liability. Probably noncurrent‚ although if operating cycle is greater than one year and current assets are used‚ this item would be classified as current. Current liability
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Management‚ the Controller‚ and Cost Accounting Management According to Henry Fayol’s Industrial and General Administration‚ "to manage is to forecast and to plan‚ organize‚ to command‚ to co-ordinate and to control". To an organization‚ those various activity can be narrowed to Planning‚ Organizing and Control by three groups of management: operating management‚ middle management and executive management with different role in each level. Planning is the process of sensing external opportunities
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their own “good life”. What each person’s good life is and what it takes to attain that life differs greatly across all aspects of humanity‚ causing it to require much time and effort for each person to discover their concept of a good life. This makes sense because of the vast differences in beliefs‚ experiences‚ and opinions that also play a part in constructing a large gap in social and financial statuses. For every human the sacrifices and benefits that come with finding one’s good life are considered
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Historical Cost accounting Historical cost accounting has been a controversial method that experienced many criticisms over a period of time‚ especially since it considers the acquisition cost of an asset and does not recognize the current market value. Merits and demerits of this method are as follows. The most obvious advantage of HC accounting is objectivity. It is a predominantly objective system‚ which records the original cost of an item when it was purchased. Under historical cost accounting
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Adam Cedillo 12/11/12 Mrs. Raines 4th Period Alternating Schedules Students past the eighth grade should be allowed to choose their times to go to school; the college does it‚ why shouldn’t we do the same? Alternating schedules could gain the students’ interest in school. We wouldn’t have the same bring schedule every day. Alternating schedules give students time to do homework. Having school all day and then having homework is time consuming. Some students have to work right after and
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Conversion cost is the sum of direct labor cost and direct materials cost. F 2. Depreciation on office equipment would be included in product costs. F 3. When the predetermined overhead rate is based on direct labor-hours‚ the amount of overhead applied to a job is proportional to the estimated amount of direct labor-hours for the job. F 4. Indirect materials are charged to specific jobs. F 5. When a job is completed‚ the goods are transferred from the production department to the finished goods warehouse
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Fall 2014 Final Examination Schedule Last updated: October 15‚ 2014 1 Exam Section(s) Day Date Start Finish ACTSC 221 001 Tuesday December 16‚ 2014 7:30 PM 10:00 PM PAC 6 ACTSC 231 001 Friday December 5‚ 2014 9:00 AM 11:30 AM RCH 301‚302‚305‚306‚307 ACTSC 232 001 Saturday December 6‚ 2014 12:30 PM 3:00 PM ACTSC 331 001 Wednesday December 17‚ 2014 4:00 PM ACTSC 371 001 Wednesday December 10‚ 2014 12:30 PM 3:00 PM DC 1350‚1351 ACTSC 372 001 Thursday December
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chapter 1 (man) MANAGERIAL ACCOUNTING CONCEPTS AND PRINCIPLES discussion questions 1. Financial accounting and managerial accounting are different in several ways. Financial accounting information is reported in statements that are useful to persons or groups outside of a company. These statements objectively report the results of past operations at fixed periods and the financial condition of the business under generally accepted accounting principles. Managerial accounting information
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