is not sure about the difference between cost accounting and a cost accounting system. Explain the difference to Joe. (b) What is an important feature of a cost accounting system? 2. (a) Distinguish between the two types of cost accounting systems. (b) May a company use both types of cost accounting systems? 3. What type of industry is likely to use a job order cost system? Give some examples. 4. What type of industry is likely to use a process cost system? Give some examples. 5. Your roommate
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Classification of Cost Cost may be classified into different categories depending upon the purpose of classification. Some of the important categories in which the costs are classified are as follows: 1. Fixed‚ Variable and Semi-Variable Costs The cost which varies directly in proportion with every increase or decrease in the volume of output or production is known as variable cost. Some of its examples are as follows: • Wages of laborers • Cost of direct material • Power The cost which does
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http://theindependentbd.com/index.php?option=com_content&view=article&id=159061:bangladesh-authority-sitting-on-draft-gi-act&catid=169:op-ed&Itemid=201 Bangladesh authority sitting on draft GI Act Print Edition Top of Form User Rating: / 0 PoorBest Bottom of Form Op-ed SATURDAY‚ 09 MARCH 2013 AUTHOR / SOURCE: M S SIDDIQUI There are two burning issues of GI to understand the Geographical Indication. RiceTec‚ a Texas-based US company‚ in 1997‚ patented some types of rice they
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Case : 1 Electronics Corporation of India Ltd.(ECIL) is a Public Enterprise under the Department of Atomic Energy established with the purpose of supporting India’s Nuclear Power Programme and help the country achieve self-reliance in professional electronics. Over the years the company evolved itself into a multi-product and multi-disciplinary organisation with focus on Computers‚ Control Systems and Communications. In the post-liberalisation scenario‚ the compulsions of global competition on
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Chapter 2—Cost Terminology and Cost Behaviors MULTIPLE CHOICE 1. The term "relevant range" as used in cost accounting means the range over which a. | costs may fluctuate. | b. | cost relationships are valid. | c. | production may vary. | d. | relevant costs are incurred. | ANS: B PTS: 1 DIF: Easy OBJ: 2-2 NAT: AACSB: Reflective Thinking LOC: AICPA Functional Competencies: Measurement‚ Reporting 2. Which of the following defines variable cost behavior
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40‚000 | | 100‚000 | | 404 | | | | 20‚000 | 20‚000 | 40‚000 | | 405 | | | | | 20‚000 | 20‚000 | | Total | 90‚000 | 120‚000 | 90‚000 | 60‚000 | 40‚000 | 400‚000 | 2 Physical Measures Method | Produced | Proportion | Joint Cost Allocation | Unit Cost | 401 | 90‚000 | (90‚000/400‚000)0.225 or 22.5% | (200‚000 x 0.225)45‚000 | (45‚000/90‚000)0.5 | 402 | 120‚000 | (120‚000/400‚000)0.3 or 30% | (200‚000 x 0.3)60‚000 | (60‚000/120‚000)0.5 | 403 | 90‚000 | (90‚000/400‚000)0.225 or 22.5%
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Structure Setting and Adjustment | Definition | A pay structure is a collection of pay rates or pay ranges.Structure setting and adjustment is the process of developing‚ adjusting‚ and maintaining a pay structure. | Purpose | Pay structures are used to help organizations: * maintain pay levels that are competitive with the external labor market‚ * maintain internal pay relationships among jobs‚ * recognize and reward differences in level of responsibility‚ skill‚ and performance‚ and
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Heritage Minutes are a staple of Canadian media‚ in which one minute reenactments of major events and/or people of Canadian history are displayed to the general public. Notably‚ Sitting Bull‚ a Lakota leader who is known for resisting against the United States government‚ has been portrayed in a Heritage Minute short film. Arguably‚ nostalgia functions to give an appearance of national unity‚ as well as attempting to give an appearance of reconciliation for the wrongdoings of the past and promote
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source same End result ! ends with financial statements ! integral part of other business aspects B. Cost Accounting Terminology 1. Nature of Cost Cost - A sacrifice of resources: Cost is a measurement in monetary terms of the amount of resources used for some purpose. Expense - The cost charged against revenue in a particular accounting period. 2. Purposes of Gathering Cost Information Routine decision making:
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How did the project(krrish) created taking into consideration the Indian diaspora abroad?? We need to recognize right away that Bombay-based Hindi cinema’s output in its entirety does not reach and/or succeed in markets abroad. It is a specific kind of cinema that has‚ since the mid-1990s‚ ‘brought the NRI decisively into the center of the picture as a more stable figure of Indian identity than anything that can be found indigenously’. The popularity of films such as DDLJ‚ kaho na pyaar hai‚K3G‚ etc
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