of the garment. Quality needs to be defined in terms of a particular frame¬work of cost. The national regulatory quality certification and international quality programmes like ISO 9000 series lay down the broad quality parameters based on which companies maintain the export quality in the garment and apparel industry. Here some of main fabric properties that are taken into consideration for garment manufacturing for export basis: . Overall look of the garment. . Right formation of the garment
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Historical Cost Mean? A measure of value used in accounting in which the price of an asset on the balance sheet is based on its nominal or original cost when it was acquired by the company. The historical-cost method is used for assets in the United States under generally accepted accounting principles (GAAP). Cost concepts and terms 1. Cost The amount of expenditure (actual or notional) incurred on or attributable to a specified article‚ product or activity is referred to as cost. 2
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valves. Over the year‚ the company has extended their product range to pumps and flow controllers. The main learning outcome from analyzing the case study is manufacturing overhead cost allocation. Exhibit 2 in the case study shows pumps has a highest manufacturing overhead cost compare to valves and flow controller. The common overhead cost drivers in the production are machine hours‚ production runs and hours of engineering work. The key issue in this case study is the gross margin on pump sales
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Hi Students‚ I would like you to study this problem and the solution to help in the preparation of your case study question on cost classification. Keith PRACTICE PROBLEM AND SOLUTION Given the following‚ prepare manufacturing statement and partial income statement. Raw materials inventory 1/1/05 8‚000 Raw materials inventory 12/31/05 5‚000 Work in process inventory 1/1/05 2‚000 Work in process inventory 12/31/05 3‚000 Finished goods inventory 1/1/05 15‚000 Finished goods inventory
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COST ACCOUNTING: A BRANCH OF ACCONTING THE PRINCIPAL PURPOSE OF WHCH IS TO DTERMINE THE COST OF A SINGLE UNIT OR SERVICES (FOR STOCK VALUATION‚COST PLANNING AND CONTROL AND PROFIT REPORTING PURPOSE) . OR A BRANCH OF ACCOUNTING THAT DEALS WITH THE ACCUMULATION AND ANALYSIS OF COST INFORMATION FOR INTERNAL USE TO AID MAMNAGEMENT IN PLANNING‚ CONTROL AND DECISION MAKING
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a) COST ACCOUNTING Cost accounting system is the part of management accounting that makes budget‚ actual cost of operations‚ analysis of variance and profitability of social use of funds. Cost accounting helps the manager in decision making regarding the reduction of the cost of the company and in improving the profitability. Cost accounting system is primarily used for internal managers therefore it does not need to follow the standards of GAAP. Cost accounting is also considered very important
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Period 7 Cost of College In 1983‚ the tuition per term at the University of Oregon was $321. There were three terms per year. In the year 2005‚ the cost of tuition at the University of Oregon is $5853 per year‚ or $1951 per term. This growth in the cost of tuition can be modeled by an exponential function: y = a(b)x. The variable y represents the cost of tuition per term‚ and the variable x corresponds to the number of years that have passed since the initial year. To find this exponential
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Chapter 14 - Operational Performance Measurement: Sales and Direct-Cost Variances‚ and the Role of Nonfinancial Performance Measures 14-1 Pet Groom & Clean (PG&C) David Green is considering his operating statement for 2010‚ which is displayed in the table below. David is the manager of store number 88‚ where he began as one of the staff 6 years ago‚ and through hard work has risen to become manager of the store. The operating report shows his budgeted performance for the year and the actual results
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Case Study: How do rising tuitions impact students‚ local employers‚ and educational institutions? Executive Economics Outline Thesis: How do rising tuitions impact students‚ local employers‚ and educational institutions? I. Tuition Costs A. Enrollment Supply B. Enrollment Demand II. Economic Theory A. Impact on Students B. Impact on Educational Institutions C. Impact on Local Employers
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ineffective spending around the globe‚ lawmakers looking for cost-saving measures would do well to turn to prisons. Prison reform must attain the lowest economic costs‚ lowering actual taxpayer dollars spent without giving up the benefits of attaining important social goals‚ which represent another form of cost when lost. Undoubtedly‚ the current prison system is doing little to separate the US from its international counterparts in minimizing such cost‚ yet prison privatization has yielded hopeful results
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