budgets. 3. The costs of direct materials are classified as: A. Choice A B. Choice B C. Choice C D. Choice D 4. The three basic elements of manufacturing cost are direct materials‚ direct labor‚ and: A. cost of goods manufactured. B. cost of goods sold. C. work in process. D. manufacturing overhead. 5. 25. Prime cost consists of direct materials combined with: A. direct labor. B. manufacturing overhead. C. indirect materials. D. cost of goods manufactured.
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"Education costs money‚ but then so does ignorance." Moser‚ Sir Claus On the Princeton website there is a report from a recent graduate that mentions Moser’s quote and goes into detail about it. It is specifically stated in this statement. "Professor Moser was a statistician‚ and this suggests we should analyze his declaration more rigorously. Education may be better than ignorance‚ but the real question is whether a [Princeton] education which carries an annual price tag higher than my salary
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COST ACCOUNTING Select the one best answer for each: 1. Which one of the following would not be classified as manufacturing overhead? a. Indirect labor b. Direct materials c. Insurance on factory building d. Indirect materials 2. Prime costs of a company are $3‚000‚000‚ manufacturing overhead is $1‚500‚000 and direct labor is $750‚000. What is the amount of direct materials? a. $1‚500‚000. b. $750‚000. c. $2‚250‚000.
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Cheap Labor Economic growth has always been the greatest interest of the world. Any studies and researches are done to improve the economy of Third World Countries. Unemployment rate and underpaid cheap labor is a big problem that the most of the Third World Countries face today in our global village. Unemployment rate of a nation affects the affordable living of local people because they are not able to afford healthcare‚ education‚ and proper housing for their family. Being unable to afford
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Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it‚ which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices
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different nations‚ take advantage of cheaper factor costs. Other forms of FDI: * Exporting: producing goods at home then shipping them to the receiving country for sale * Licensing: granting a foreign entity right to produce and sell the firm’s product in return for royalty fee on every unit sold Flip side of FDI: Horizontal direct investment: * FDI in the same industry abroad as company operates in at home. * Expensive‚ must bear costs of establishing production facilities in a foreign
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The Demand For Labor The demand for labor and other productive inputs is different from the demand for consumer products such as iPods‚ books‚ haircuts‚ and pizza. Firms use workers to produce the products demanded by consumers‚ and so economists say that labor demand is a derived demand. That is‚ it is determined by‚ or derived from‚ the demand for the products that workers produce. • Labor Demand by an Individual Firm in the Short Run. Consider a perfectly competitive firm that produces
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Street Journal. Cost Management and Strategy – refer to your assigned questions and problems Cost Drivers and Basic Cost Concepts -- What is a cost? Define cost pools. What is a cost object? cost assignment? Contrast a direct cost with an indirect cost. Define cost allocation. What is an allocation base? Contrast cost assignment with cost allocation. What is a direct material? Direct labor? Indirect material? Indirect labor? factory overhead? What are conversion costs? Prime costs? What are the
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statistics it would appear that the community is overwhelmingly focused on graduation and higher education and are career/job minded. In order to prepare future graduates for college and the workforce‚ I feel as though Indirect Instruction would be an appropriate choice. Indirect Instruction makes the student an active learner getting them involved in hands-on type activities and builds on their natural curiosity. This type of approach will foster creativity and build problem solving skills which
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Labor Relations Labor relations can refer generally to any association between workers and management about employment circumstances. Most frequently‚ labor relations refers to dealings involving a workforce that is already unionized and management‚ or has the potential to become unionized. Labor relations are vital to organizations. The National Labor Relations Act was passed in the 1930s‚ which gave workers the right to bargain collectively and form unions in the United States (http://www.investorglossary
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