variances. Recognize the features of a standard cost system. Account for standard costs in a departmentalized factory. Distinguish between actual and applied factory overhead. Standard Costing •The purpose of standard cost accounting is to control costs and promote efficiency. •It is not another accounting method for accumulating manufacturing costs‚ but is used in conjunction with such methods as job order‚ process‚ or backflush costing. •Standard costing is based on predetermination of what it should
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Activity Based Costing and the Theory of Constraints are‚ respectively‚ Overhead Absorption Costing and Marginal Costing in a different guise Introduction In this assignment I will be investigating the assertion that Activity Based Costing and the Theory of Constraints are‚ respectively‚ Overhead Absorption Costing and Marginal Costing in a different guise. To analyse this statement I will compare ABC with Overhead Absorption Costing and Theory
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Team Work Team work is defined as the process of working collaboratively with a group of people in order to achieve a goal. A successful team involves individuals who can work well together‚ trying their best in any circumstance to achieve that one main goal that they have set out to achieve. Teamwork means that people will try to cooperate‚ using their individual skills and providing constructive feedback‚ despite any personal conflict between among themselves. In every team‚ all members should
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environment‚ the use of traditional costing system is no longer relevance to the company to achieve competitive advantage. Nowadays‚ Activity Based Costing is considered as one of the effective tools to enhance the ability of the organisation to meet global competition. This had resulted in the change from traditional costing system to an increasingly popular costing system such Activity-Based Costing (ABC). ABC system has emerged as an alternative to traditional costing system to meet the need for accurate
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1. Are virtual teams likely to be a passing fad? Why. Or why not? I personally don’t believe that virtual teams are a passing fad. Over the past couple of years a lot of things have changed but one thing that has been constant is the use of technology and the importance it plays in the workplace. Like my company‚ we have a number of locations and we work on various projects utilizing virtual teams. Especially since a lot of bigger companies are global‚ virtual teams allows for more reasonable collaboration
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DATA P 20 Q 2.000 R 40.000 VC 16.000 VCu = 8 FC 20.000 Q1) P/P = +20% P = +20%*20 = +4 The formula to compute Iso-Contribution change in sales volume is the following: Q = -25%*2.000 = -500 The maximum sales loss that the company can incur without hurting profits is of 500 units or -25%. Actual Change in Sales Change in Contribution = Change in Profit (%) (Units) ($) ($) 0‚0% 0 8000 8.000 -10‚0% -200 4800 4.800 -20‚0% -400 1600 1
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& Service costing Service Costing Unit costing is the method of costing used when the cost units are identical. Identical cost units should have identical costs and this concept of equality of costs is the basic feature of unit costing. It may be noted that process costs‚ output costing and service costing are the sub-divisions of unit costing method. Service Costing – Nature and Problem: Service or operating cost is the cost of providing services. Service costing is the term
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SELF IMPROVEMENT (COMM 1) Topic Outline Thesis Statement: There are different ways to improve your self. I. Physical A. Make the habit of drinking more water. B. Be hygienic. C. Get 8 to 9 hours of sleep every night. D. Don’t bite your nails. E. Always wear deodorant or antiperspirant. F. Be confident all the time. G. Always be in proper posture. H. Choose clothes that compliment your body shape. I. Apply attractive perfumes or body sprays‚ but not too much
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......................... 12 Chapter 4 Consumption-Savings Decisions and State Pricing...................................................... 17 Chapter 5 A Multi period Discrete-Time Model of Consumption and Portfolio Choice............... 24 Chapt~ 6Multi~riod Market .EQ.t.JilibriliDl .................................................................................. 33 Chapta-- ?Basics of Derivative Pricing ...............................................................................
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What happened and why : Seagate is one of the largest digital content storage companies in the world and has business in about 15 countries around the world in Europe‚ Asia and the US (©2011 Seagate Technology LLC). To create the ultimate team-building experience‚ every year Seagate brings 250 high-performing employees to Queenstown‚ near Lake Wakatipu in New Zealand. This event tests all their physical and emotional boundaries of endurance (Max‚ 2006). This is a very popular program among Seagate
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