following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
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in regards to their four basic paper product lines. It will show the cost and price data for the next fiscal quarter‚ plus showing the contribution margins per unit and the revisions. The paper will include the break-even point for sales mix along with the margin of safety for the estimated sales volume of the original estimates and the revised estimates as well. Lastly‚ it will address Herbert’s concern about the variable cost of the place mats. Original Estimated Contribution
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TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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On Growth/Fixed Mindsets Mindsets are beliefs about yourself‚ your characteristics‚ or how you use your basic ability. Based on new psychological studies about mindsets‚ there are two categories of mindsets‚ Fixed Mindsets and Growth Mindsets. A fixed mindset is a belief that abilities and intelligence are set and cannot be changed. On the other hand‚ a growth mindset would be one that abilities and intelligence can grow through effort and perseverance. My mindset has been changing throughout my
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CHAPTER 3 BALANCE OF PAYMENTS SUGGESTED ANSWERS AND SOLUTIONS TO END-OF-CHAPTER QUESTIONS AND PROBLEMS QUESTIONS 1. Define the balance of payments. Answer: The balance of payments (BOP) can be de fined as the statistical record of a country’s international transactions over a certain period of time presented in the form of double-entry bookkeeping. 2. Why would it be useful to examine a country’s balance of payments data? It Answer: would be useful to examine a country’s BOP
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Inequalities are equations that can be used to determine not just what something could equal but what something cannot equal. It tells us what the relative size is of two values and if they are big or small‚ too much or not enough. Inequalities could make it easier to determine how much someone might need of something in order to make a certain amount of something‚ while also determining how much more might be needed or how much be left. For example‚ if someone wanted to make cupcakes and flat
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Definitions A fixed mindset to me is a person with no will or want to grow as an individual. Someone who is stuck in their ways believing that their situation is never going to get better. They may want to continue and better themselves by maybe furthering their education. They feel as though they are not good enough and that there is no point in trying. They refuse to see the better part of themselves and believe only the worst about themselves. Instead of embracing their uniqueness and individuality
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or A Fixed Mindset? According to Dweck’s research‚ “Intelligence is something that can be cultivated through effort and education” (1). Carol S. Dweck Professor of Psychology at Stanford University studies about different mindsets in her book‚ Mindset: The New Psychology of Success. She studies two different mindsets one called fixed‚ and the other called the growth. She also discusses how parents praising their children can be traumatic. Through her research‚ she found those with fixed mindsets
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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A balance sheet‚ like a photo‚ provides a financial picture of a company on a given day and time. It categorizes all of a company’s resources as assets‚ all of its debts as liabilities‚ and all of the owner’s investments as equity. A company uses its assets‚ such as accounts receivable‚ inventory‚ and equipment‚ for manufacturing or purchasing products for sale or to provide a service. A company’s assets are financed by its liabilities (debt) and the owner’s equity (net worth). On a balance sheet
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