Forrester‚ Inc.‚ currently uses traditional costing procedures‚ applying $815‚000 of overhead to products Alpha and Gamma on the basis of direct labor hours. The company is considering a shift to activity-based costing and the creation of individual cost pools that will use direct labor hours (DLH)‚ material handling (MH)‚ and number of shipments (NS) as cost drivers. Data on the cost pools and respective driver volumes follow. Product Alpha Gamma Pool Cost Pool No. 1 (Driver: DLH) 200
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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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Cost Accounting Fundamentals Introduction to Cost Accounting Cost accounting is an internal reporting system for an organisation’s own management for decision making. It is the process of accounting for costs. It includes the accounting procedures relating to recording of all incomes and expenditures and the preparation of periodical statements and reports with the object of ascertaining and controlling costs. It is thus the formal mechanism by means of which cost of products or services are
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INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000
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flexibility; this method can use either qualitative or quantitative data or both‚ giving the researcher greater options in selecting the instrument for data-gathering. With the proposed study‚ locating items in the supermarkets would be easier and faster. Wasted time and effort of the customers especially those in a hurry would be minimized. It is important for the supermarket to gain the loyalty of its customers and with the help of the proposed product locator system‚ it will greatly satisfy the
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------------------------------------------------- ASSIGNMENT ON COST CONTROL AND COST REDUCTION ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
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ENTERPRISE SYSTEM Traditional “Silo” View of Information Systems • Within the business: There are functions‚ each having its uses of information systems • Outside the organization’s boundaries: There are customers and vendors Functions tend to work in isolation. Traditional View of Systems: Systems for Enterprise-Wide Process Integration: Enterprise applications: • Designed to support organization-wide process coordination and integration. • Consist of : • Enterprise systems • Supply
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Acknowledgement: Nothing can be done in individually. We are indebted to a number of people for their kind advice‚ suggestion‚ direction‚ and co-operation. First of all‚ we would like to thank Almighty Allah‚ as we have become able to complete our assignment appropriately and suitably. We are really grateful to our teacher for giving us an opportunity to gather some practical experience. We are grateful to Banoful & Co. for allow us to industrial visit in their production house. We are also
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Cost Volume Profit Analysis and Costing for the 21st Century Abstract Cost value is the analysis of different divisions or business units of a firm on the basis of their opportunity cost and economic rent (“Cost value definition”). The objective of cost value is to determine which division or unit should be kept‚ expanded‚ sold‚ or shut down (“Cost value definition”). Cost analysis is an important component of all economic evaluation techniques‚ especially when it comes to planning and self-assessment
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| | | |Assignment : Managing Cost and making financial interpretations for decision | |
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