Sippican’s cost system‚ should executives abandon overhead assignment to products entirely and adopt a contribution margin approach in which manufacturing overhead is treated as a period expense? Why or why not? 2. Calculate the practical capacity and the capacity cost rates for each of Sippican’s resources: production and setup employees‚ machines‚ receiving and production control employees‚ shipping and packaging employees‚ and engineers. 3. Use these capacity cost rates and
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COSTING 4-1 Cost pool––a grouping of individual indirect cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to cost objects. 4-2 In a job-costing system‚ costs are assigned to a distinct unit‚ batch‚ or lot of a product or service. In a process-costing system‚ the cost of a product
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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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COST OVERRUN FACTORS AND PROJECT COST RISK ASSESSMENT IN CONSTRUCTION INDUSTRY - A STATE OF THE ART REVIEW SAVITA SHARMA 1 & PRADEEP K. GOYAL 2 1 Senior Lecturer‚ Department of Civil Engineering‚ Govt. Polytechnic College‚ Ajmer‚ Rajasthan‚ India 2 Associate Professor‚ Department of Civil Engineering‚ Govt. Engineering College‚ Ajmer‚ Rajasthan‚ India ABSTRACT This paper presents a state of the art review of major and frequently occurred cost overrun factors and project cost risk assessment
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summary of the contents of the document.] compaq [Type the company name] [Pick the date] Contents Concept of Cost Accounting……………………………………………………………………03 Introduction……………………………………………………………………………………..03 Traditional costing v/s activity based costing…………………………………………………..04 Need for an Activity Based Costing……………………………………………………………06 Stages in Activity Based Costing……………………………………………………………....08 Cost Drivers…………………………………………………………………………………….09 Classification of activities………………………………………………………………...……10 Steps
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REVENUE MANAGEMENT Capt: Paul Mwangi 9th May 2014 KCAA/MOI UNI/EMBA/PK/9th May 14 OVERVIEW OF REVENUE MANAGEMENT MISSION Maximize network revenue per Available Seat Kilometer for a given schedule. KCAA/MOI UNI/EMBA/PK/9th May 14 Why Revenue Management? To maximize revenue income! KCAA/MOI UNI/EMBA/PK/9th May 14 How? “cherry picking” Overbooking KCAA/MOI UNI/EMBA/PK/9th May 14 “Cherry Picking” Flight NBO – LON available seats: 8 Passengers who wants to travel:
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Jenine Teixeira ACFI 406 9/24/12 Assignment chapter 19 Q: 1‚ 2‚ 11‚ 15 1. Dickison orders one thousand widgets at $5 per widget from International Widget to be delivered within sixty days. After the contract is consummated and signed‚ Dickison orally requests that International deliver the widgets within thirty days rather than sixty days. International agrees. Is the contractual modification binding? A- Both parties are merchants‚ the change of delivery date would affect the
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Cost and Price Analysis Instructor: Name: Class: Finance 230 Date: Period: Results: 1) Why is it important for the government to exercise good fiscal judgment when spending funds? Government employees are held responsible for use of good judgment so those excessive prices are not paid. 2) List and describe four types of market based pricing. Be sure to provide at least one (1) example of each type. Competitive Offers – response to solicitation encouraging competing offers Established
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Framework Zhang Yi Fei and Che Ruhana Isa becoming more and more popular [3-7] ABC aims to provide accurate costing information to managers to allocate activity costs to products and services by applying cost drivers [8]. Academics who advocate ABC‚ such as‚ Cooper and Kaplan [9]‚ and Swenson [10] argue that it provides more accurate cost data needed to make appropriate strategic decisions about product mix‚ sourcing‚ pricing‚ process improvement‚ and evaluation of business process performance. These
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1. Product costs used for pricing and product-mix decisions generally include: Answer | | manufacturing costs only | | | design costs plus manufacturing costs | | | all costs incurred along the value chain | | | distribution costs only | 0.1 points Question 4 Within the relevant range‚ if there is a change in the level of the cost driver‚ then: Answer | | fixed and variable costs per unit will change | | | fixed and variable costs per unit will remain the
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