the more likely it is to become dirty‚ dusty‚ damaged or expired (perishable items and medication). Stock affected like this is referred to as ‘shop soiled’. The rotation of stock is based on the physical movement of goods and not the assumption of FIFO valuation. Management should always ensure that it looks after its inventory and presents it in the best possible
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August 1 80% Work in Process‚ August 31 30% For numbers 1-5 Use First In–First Out (FIFO) cost method in completing the following requirements: 1. Determine the number of whole units to be accounted for and to be assigned costs for August. 2. Determine the equivalent units of production for materials and conversion for the Mixing
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Analyzing Waiting Lines Most people find waiting lines irritating – waiting is idle and nonproductive time. From a service system perspective‚ however‚ a line represents a demand for service. Think of a restaurant on a Friday night. As a customer it is an irritation to have to wait 40 plus minutes for a table‚ but from the restaurant’s perspective‚ if there is not a line‚ then that means there are empty tables. Idle services are not good. So management must balance waiting time with the
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approximately the same under different inventory costing methods and the choice of method does not materially affect net income. To see this‚ remember that FIFO profits include holding gains on inventories. If the inflation rate is low (or inventories turn quickly)‚ there will be less holding gains (inflationary profit) in inventory. Q6-3. FIFO holding gains occur when the costs of earlier inventory p are matched against current selling prices. Holding gains on inventories increase with an increase
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CHAPTER ONE INTRODUCTION 1.1 Background of the Study Resources are scarce; profit making organization should know how to utilize these resources effectively and efficiently. The inventory control section of a company is responsible for these activities‚ in order to continue the operation of the organization through out the year they have to use the rules and principles to handle different kinds of materials. Since it improves inventory handling activities with in the organization‚ it will help
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The company that I chose to use as the basis for this assignment was Mattel‚ Inc. and Subsidiaries. They have their most recent financial statements available right on their website. This paper will analyze the disclosures related to cash and cash equivalents‚ receivables‚ and inventory. It will also identify the components of cash and cash equivalents. Cash and Cash EquivalentsThe balance sheet lists a balance for cash and equivalents at $997‚734 (in thousands). The disclosure for cash and equivalents
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What industry are the companies in? Nike; one of the most well known companies across the globe today is most known for being the world’s #1 shoemaker. They design and sell shoes for a variety of sports including baseball‚ golf‚ tennis and football. Nike also sells dress and casual shoes as well as athletic apparel and equipment for almost every sport imaginable. In addition Nike also operates NIKETOWN shoe and sportswear stores‚ factory outlets along with Nike women shops. One of Nike’s biggest
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ACCT TEST 1. Which of the following is NOT a characteristic of a corporation? a. Corporations are organized as a separate legal taxable entity. b. Ownership is divided into shares of stock. c. Corporations experience an ease in obtaining large amounts of resources by issuing stock. d. A corporation’s resources are limited to its individual owners’ resources. e. Corporations make up 20% of all businesses. 2. An entity that is organized according to state or federal statutes
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Best Buy Co.‚ Inc. 1343 Ashton Road Hanover‚ MD 21076 (777) 555-0263 xavier.michaels@geeksquad.com Memo Date: To: December 17‚ 2012 Xavier Michaels‚ District Manager of Geek Squad Services Richard Morgan‚ General Manager (00263) Sarah Draughon‚ Services Supervisor (00263) Vivin Viswanathan‚ Advanced Repair Agent (00263) Reconsideration of Planogram for Employee Efficiency From: Subject: Attached is a report illustrating the inefficiencies caused by the placement of a planogram. I have attached
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Ex-MBA 2011-2014 ( Batch - Weekend ) Semester - 2 Subject: Managerial Accounting ------------------------------------------------- Title : Methods / techniques of cost accounting Submitted by : Vishwajeet Gaikwad – 2011G04 Submitted to : Prof. Sameer
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