Cost Variance Analysis Presented by : Edmund C. Cabrera MBA Student Universidad de Manila Definitions STANDARD COSTS – are predetermined or target unit costs of production which should be attained under efficient conditions. It is the amount and costs of direct material‚ direct labor‚ and factory overhead required to produce one unit of finished product. STANDARD COST SYSTEM – is an accounting system which uses standard costs rather than actual costs to account for units as they flow through
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Your model should look like this: Now with the cost drivers in place‚ we are ready to calculate Auntie Wuni’s monthly costs. • Leave a row under the Spaghetti: Px/box row and create a subtitle ‘Total Cost of Ingredients’ in cell B28 • Hit Ctrl-B on cell B28 to render the title in bold • Starting from cell B29 and moving downwards‚ populate the cells in this section simply with the name of the ingredients‚ i.e. Oil; Tomatoes; Rice; Pepper; Fish; Cow-leg; Beans; Spaghetti. • Now move the
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Utilitarianism 1. Moral theories can be divided into two major types‚ teleological and deontological. In teleological theories‚ (moral) right is derived from a theory of the (non-moral) good‚ or what is good or desirable as an end to be achieved. In Greek‚ telos means ‘goal’ or ‘aim.’ In deontological theories‚ (moral) right is derived without a theory of (non-moral) good‚ or what choice is (morally) right regardless of the end consequences. In Greek‚ deon means ‘duty.’ Utilitarian theories are
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Critical Analysis March/7/2012 Opposing to receive second hand smoke Is a discrimination to smokers? In the article‚ “Smokers Get a Raw Deal” Scott explains that smokers are being restricted from their freedom as normal people and “discriminated” because of laws created to prohibit the places they can’t smoke. He tries to guarantee the reader about the discrimination that smokers are having by giving some examples to convince the reader
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College Costs Introduction It’s no secret that financing a college education is getting tougher. College costs have skyrocketed over the past decade or so‚ and there’s no relief in sight. Average tuition at four-year colleges will increase 7 percent this school year‚ double the rate of inflation. Student aid is not increasing fast enough to plug the growing gap between tuition and family finances. In addition‚ there is a growing number of older students entering college today. These students
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Danshui Plant No. 2 to break even? 2. Using budget data‚ what was the total expected cost per unit if all manufacturing and shipping overhead (both variable and fixed) were allocated to planned production? What was the actual cost per unit of production and shipping. 3. Prepare a flexible budget for 180‚000 iPhone 4’s and calculate flexible budget variances using actual costs for August. 4. Estimate material price and usage for flash memories‚ labor rate and usage (efficiency) variances‚ and
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As I was sitting with my friends in Lal’s Patisserie-our favourite hangout-enjoying a cool breeze and observing my friends’ discussion regarding the best A-levels college‚ I asked myself: Where would I apply for my next educational destiny? The answer struck me‚ ‘Nixor of course!’ Nixor is my foremost option for A-levels. After doing research on Nixor‚ I was convinced that it was the place for me. I believe it is a strong educational institute that appreciates the individualized needs and contexts
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Recycling is processing used materials into new products to prevent waste of potentially useful materials‚ reduce the consumption of fresh raw materials‚ reduce energy usage‚ reduce water and air pollution. Many kinds of glass‚ paper‚ metal‚ plastic‚ textiles and electronics can be recyclable materials. Goverments encourage their citizens to seperate their garbage and they make some rules for restaurants and supermarkets to supply recycling process. Although it is claimed that recycling is not worth
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ADVANTAGES OF COST ACCOUNTING 1. Fixation of responsibility: Whenever a cost center is established‚ it implies establishing a kind of relationship between superior and subordinates. Thus responsibilities are fixed on every individual who is concerned with incurrence of cost. 2. Measures economic performance: By applying cost control techniques such as budgetary control and standard costing it helps in assisting the performance of business. 3. Fixation of price: By providing cost data it
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Methods / techniques of cost accounting Submitted by : Vishwajeet Gaikwad – 2011G04 Submitted to : Prof. Sameer Deshmukh INDEX SR NO | TITLE | PAGE NO | 1 | INTRODUCTION | 3 | 2 | METHODS OF COST ACCOUNTING | 4 | 3 | TECHNIQUES OF COST ACCOUNTING | 8 | 4 | USEFULNESS
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