ACCOUNTING CO-ORDINATOR: P Gopaul Siphesihle Secondary PRODUCTION COST STATEMENTS LO2: AS 2: MANAGERIAL ACCOUNTING Prepare ‚ present‚ analyse and report on cost information for a manufacturing Enterprise by compiling a production cost statement. 1. The financial statements of manufacturing enterprises The financial statements of the manufacturing enterprise differs very little from those of the merchandising enterprise. Account titles on the balance sheet of the manufacturer are similar to those
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Sales - Cost of goods sold = Gross margin 2. Cost of goods sold = Beginning inventory + Purchases – Ending inventory 3. Inventory is reported on the balance sheet at replacement cost when it is less than cost. 4. Inventory turnover (3.79) = Cost of goods sold ($750‚000) ÷ Average inventory ($188‚000 + $208‚000)÷ 2 5. Average days to sell inventory (96.3) = 365 days ÷ Inventory turnover (3.79) 6. Average days to sell inventory (96.3) = 365 days ÷ Inventory turnover (3.79) 7. LIFO cost of goods sold
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Q1. Of the following production functions‚ which exhibit increasing‚ constant‚ or decreasing returns to scale? a. F(K‚L) = K2 L b. F(K‚L)=10K + 5L c. F(K‚L)= KL.5 Q2. Suppose the process of producing lightweight parkas by Polly’s Parkas is described by the function q=10K8 (L-40).2 Where q is the number of parkas produced‚ K the n umber of computerized stitching-machine hours and L the number of person-hours of labor. In addition to capital and labor‚ $10 worth of raw materials
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things that are not the same. Example: The carpet felt like sandpaper under her feet (Here the carpet‚ which is usually soft‚ is being compared to sandpaper‚ which suggests that either there is something wrong with this carpet or it is uncomfortable to walk on. Identifying the similarity and the reason the writer has created this comparison is what you are often asked to do in questions that require you to unpack or explain a figure of speech‚ like a simile. Writers uses similes to create an effect
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The Health Care That Never Exists What if you were to live in a world with no source of health care whatsoever? How about living in a world where diseases are common and you are living with unhygienic sources of water? In the world of Sub-Saharan countries of Africa‚ which can include Congo and Uganda‚ poverty is very common. Being poor in the world is a horrible thing‚ and many are blamed for the wrong purpose of poverty as you do not have access to many things. Many African children and adults
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language they use in their songs‚ ways of dressing or living life. For example a team of research from the University of Berkeley California‚ made studies that “prove” rap music has a negative impact on those who listen to the “Negro music”.(rap/hip hop) This study proved how most of the young generation who listen to this music where most likely to end up having sex in an early age‚ use drugs such as XTC‚ drink alcohol‚ smoke weed and party more often than others. “It’s a health-risk in another
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he was for nonconformity and frequently contrasted his freedom with the imprisonment of others. For instance‚ people in all societies were slaving their lives away just to maintain a lifestyle complying with others and their desires for material goods. All the while‚ he leaves civilization to return to nature as a personal experience to contemplate life‚ discover more about human nature‚ and to live life effortlessly. During his time at Walden‚ he spent his time doing tasks that people in society
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INTRODUCTION Corporations the world over have been publicly criticized for improving their firm’s bottom line at any moral or social cost. Ethics essentially “refers to the issues of right‚ wrong‚ fairness and justice.” Clearly‚ examples such as Enron‚ WorldCom‚ and even Conrad Black tested society’s views on sound ethical business and the link to what society sees as “good” governance practices. Although the controversies involve issues matched in variety only by the types of companies‚ they all virtually
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In modern media‚ there are themes for every film‚ television show‚ and magazine. These themes pertain to every individual’s life in one way or another. Given the opportunity to choose one piece of work to discuss‚ I chose the film “Good Will Hunting.” Good Will Hunting is a drama film from 1997 that revolves around the main character Will Hunting. The movie displays several themes‚ and portrays them in rather dynamic ways. However‚ the aspect I find most intriguing about the film is its lack of a
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Explanation text is primarily explained by the content of the document Structuration data are ordered to a pre-determined set of categories or by order determined by the text Objective hermeneutics objective and subjective analysis of data is made to explain the nature of the textual interactions Content Analysis Process Identify purpose and objectives Select sampling units Samples size determination viz. theoretical saturation Collect data and make into text Code the data Transform codes into categories
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