Q1: There are two different types of cost accounting systems: Job order cost systems and process cost systems. How does management decide whether to use a job order cost system or a process cost system in any given manufacturing situation? Explain. Job order cost system is used in situations where many different products are produced each period. For example‚ a Levi Strauss clothing factory would typically make many different types of jeans for both men and women during a month. A particular order
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4. 5. 6. Compute the cost of goods sold in September. Compute the balance in finished wooden beds inventory at September 30. Compute the total manufacturing overhead. What’s the amount of total manufacturing cost in September? Compute the balance in work-in-process inventory at September 30. Compute the balance in wood at September 30. 1 Problem Two Job-Order Costing (12 points) Anthony’s Furniture Inc. (Anthony’s) manufactures furniture in Mississauga. Anthony’s uses job-order
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agony. As victims of hard times‚ these “wounded healers” as they are often called‚ can use their own experiences not only to help and guide others in turmoil‚ they can also provide a path of escape for such people. In The Wounded Healer‚ author Henri Nouwen explores this topic into great depth as he contemplates the reason behind suffering. With much pondering‚ he concludes that man is allowed to undergo hardships so that he‚ in turn‚ can be a healer for others. One cannot hope to understand the
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MANAGERIAL AND COST ACCOUNTING LARRY M. WALTHER & CHRISTOPHER J. SKOUSEN DOWNLOAD FREE TEXT BOOKS AT BOOKBOON.COM Managerial and Cost Accounting © 2009 Larry M. Walther‚ under nonexclusive license to Christopher J. Skousen & Ventus Publishing ApS. All material in this publication is copyrighted‚ and the exclusive property of Larry M. Walther or his licensors (all rights reserved). ISBN 978-87-7681-491-5 Download free books at BookBooN.com 2 Managerial and Cost Accounting
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Before answering this question lets review the job and process costing sytems: Job order cost system: • Jobs are assigned to each job or batch • A job may be for a specific order of inventory Process cost system : • This cost system is generally used when a large volume of similar products are manufactured Answers: a. A custom yacht builder – job order costing b. A golf course designer – job order costing c. A potato chip manufacturer
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called: Liquidity and Efficiency 3. The ability to generate future revenues and meet long-term obligations is referred to as: Solvency 4. The ability to provide financial rewards sufficient to attract and retain financing is called: Profitability 5. The ability to generate positive market expectations is called: Market Prospects 6. Standards for comparisons in financial statement analysis include: Intra-company‚ Competitor‚ Industry‚ Guidelines 7. The comparison of a company’s financial condition
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one of job for this project (the job must be difference with the presentation assignment)‚ after that: 1. Arrange job description‚ job analysis and job specification 2. Specify the source to get the prospective candidate 3. Specify the selection tools for the candidate (like test‚ etc) 4. Arranges 5 questions for each types of question (situational interview‚ behavioral interview‚ job related interview and stress interview) I. Job Description‚ ‚ job analysis and job specification
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others. Mr. W is an experience businessman and manager. We can use these theories and compare with what Mr. W answered. There are four management functions that were proposed by Henry Fayol in1949. It is divided into planning‚ organising‚ leading and controlling. Mr. W rated planning‚ organising and leading as 5 on a scale of 1-5. These functions are important to him as he sets mission statements for the company‚ he plans and strategize on the best possible way to achieve these plans and he gives
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Part 1 of Final Project Melissa Scott 1/28/2014 Pablo Simon Managerial Accounting Strategic business decisions are essential to achieve the long-term goals of the company. Strategies are mostly concerned with the scope of business activities and growth in the business (Rosenzweig‚ 2013). They form the fundamental basis for any organization‚ which is based on the facts and in-depth analysis. Historical trends in the financial statement provide for guidance about the performance
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BE12-1‚ BE12-4‚ BE12-5‚ BE12-6 Exercise: E12-5 BE 12-1 $450‚000 ÷ $50‚000 = 9 years BE 12-4 | | CashFlows | X | 9% DiscountFactor | = | PresentValue | | | | | | | | Present value of net annual cash flowsPresent value of salvage valueCapital investmentNet present value | | $34‚000 0 | XX | 5.53482 .50187 | == | ($188‚184)( 0)( 188‚184)( 200‚000)($ (11‚816) | The reduction in downtime would have to have a present value of at least $11‚816 in order for the project
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