possible without the kind support and help of many individuals and the organization. I would like to extend my sincere thanks to all of them. I am highly indebted to the Institute of Business Management for its guidance and for providing necessary information regarding the project & also for their support in completing the project. I would like to express my gratitude towards my parents and my teachers for their kind co-operation and encouragement which help me in completion of this project. My
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I. Discuss Process Costing‚ clearly bringing out its advantages and disadvantages. DEFINITION Costs are accumulated in costing systems. According to Glautier and Underdown (2001)‚ the development of costing systems reflects the manner in which accounting methods have been adapted to the needs of different forms of activity and technology‚ and also to the appearance of advanced manufacturing techniques that have been a feature of recent years. Cost accounting systems allow full product costs to
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PAPER On Process Costing Submitted in fulfillment of the requirements for the 3rd SEM MBA Management Accounting and Control Systems Submitted to: Submitted by: Prof. G V M Sharma Vandana Rajput Dept. of MBA 1PB11MBA60 INTRODUCTION: Process costing is a form of operations costing which is used where standardized homogeneous goods are produced. This costing method is used in
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million net‚ which adds up to sum of $3 million. The president of the company asked me to give an analysis in the possibilities foreseen in the investment what would be the Net Present Value‚ along with the Internal Rate of Return‚ and the payback of the investment. Net Present Value (NPV) NPV is a process in which a company makes an analysis of pros and cons when making investments. Companies use this analysis due to the fact of its efficiency and effectiveness which assist those involved in the investment
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sold………………. $ 7‚705‚150 Less: Overapplied overhead…………………. 50‚500 Cost of goods sold……………………………... $ 7‚654‚650 7. No‚ selling and administrative expenses are operating expenses of the firm and are treated as period costs rather than product costs. Such costs are unrelated to manufacturing overhead and cost of goods sold. PROBLEM 3-46 (35 MINUTES) 1. Predetermined overhead rate = budgeted overhead ÷ budgeted
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Capital Budgeting Rules: NPV‚ IRR‚ Payback‚ Discounted Payback‚ AAR Categories of Plans 1. Replacement Projects: decisions to replace old equipment – those are among the easier of capital budgeting techniques. It is important to decide whether to replace the equipment when it wears out or to invest in repairing the machine. 2. Expansion Projects: These are decisions whether to increase the size of business or not – they are more uncertain than replacement projects. 3. New products and services: These
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Process Costing Vs. Job Order Costing Manufacturers use different types of costing systems to allocate production costs to their products and services. Two types of common product costing systems are process costing and job-order costing. While each system applies the same production costs to products‚ there are distinct variances in the application method. Process Costing o Process costing applies production costs to products based on the process they go through in the manufacturing process.
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How Cloud Technology Can Help Your Business W hen it comes to running business related software‚ Cloud Technology (also know as Cloud Computing) is fast becoming the preferred model for thousands of companies across the globe. Applications running on the cloud not only cost less‚ but they are easier to maintain‚ are more reliable‚ more secure and more scalable than traditional systems. Hold on - What exactly is Cloud Technology? It’s a fact of life that successful‚ growing businesses need software
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Computerized Budgeting MGMT 360 Budgeting has been a major part of forecasting how companies spend their money throughout the fiscal year. In most companies‚ the words “it’s budget time”‚ strike fear in the hearts of employees. Financial officers and management accountants brace themselves for reconciling reams of spreadsheets that may reveal wildly different data depending on order and configuration. Non finance employees in various divisions scurry to understand their role in the budgeting process
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Costing Methods Paper ACC/561 7 March 2013 Costing Methods Paper Super Bakery‚ Inc. has broadened its footprint by taking on a new cost system that result in fair pricing by activities instead of product. The strategies used by the company were clear to make the improvements needed to move the company forward. Other cost systems were considered but the activity-based costing approach was best suited to the company’s needs. The job order cost system and the process cost system
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