CHAPTER 5 PRODUCT AND SERVICE COSTING: A PROCESS SYSTEMS APPROACH LEARNING OBJECTIVES AFTER STUDYING THIS CHAPTER‚ YOU SHOULD BE ABLE TO: 1. Describe the basic characteristics of process costing‚ including cost flows‚ journal entries‚ and the cost of production report. 2. Describe process costing for settings without work-in-process inventories. 3. Define equivalent units‚ and explain their role in process costing. 4. Prepare a departmental production report using the FIFO method
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Chapter 5 Student: ___________________________________________________________________________ 1. The success of the rose industry in Ecuador is a good example of the economic benefits of what? A. Free trade B. Restrictive government regulations C. New tax rules D. Technological advancements E. Firm rivalry 2. Propagated in the 16th and 17th centuries‚ __________ advocated that countries should simultaneously encourage exports and discourage imports. A. ethnocentrism B. capitalism C. collectivism
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compared to white groups are represented for all job categories. Flow Statistics Tanglewood Hiring and Promotion | Non-White Selection Ratio Applicants to hired | WhitesSelection ration applicants to hire | Total Selection Ratio for the position 4/5 rule less than .80 | | External Hire | | | Store Associates | .24 | .23 | 1.04 | Shift Leader | .14 | .16 | 1.14 | Department Manager | .07 | .08 | 1.14 | Asst. Store ManagerStore Manager | .0.22 | .08.08 | .0.36 | | Internal Hire |
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Cayenne is targeted to be more of a family car‚ this is important because families have a huge influence on buyer behavior and choices. The company also came out with cheaper cars to appeal to the middle and working class. 3. The concepts from the chapter that explain why Porsche sold so many lower-priced models in the 1970s and 1980s is that customers began to become dissatisfied with the image and performance. People were not as satisfied with the performance and look of the cheaper models. Even
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Case 5 – 69 1.0 Compute the target prices for the three models‚ based on the traditional‚ volume-based product costing system. The volume based product costing system comprises the total product cost multiplied by a target selling price. The target selling price in a volume based product costing system can differ from an activity based product costing system because of the way the manufacturing overhead costs are lumped together and applied on the basis of direct-labour hours over all three products
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FAR 600 TUTORIAL 4 BACC 8G GROUP MEMBERS: NUR AIN BT ABU BAKAR NUR LIYANA BT MOHD ZAINI AKMA NUR AMANINA BT ZAKARIA MADIHAH BT ABU THARIM DATE OF SUBMISSION: 5 APRIL 2013 PREPARED FOR: MADAM AFIDAH BT SAPARI QUESTION 5 How principal in the agency relationship protects again the opportunistic behavior of the agent and the agent’s response to this. There are two costs that will be implemented by the principal towards the opportunistic agent behavior. First is monitoring cost which
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Running head: COMPARING IFRS TO GAAP University of Phoenix ACC/290 Week 5 8/12/2014 Susan KuniyoshiRunning head: COMPARING IFRS TO GAAP IFRS 2-1: In what ways does the format of a statement of financial of position under IFRS often differ from a balance sheet presented under GAAP? IFRS does not mandate a specific order or classification of accounts on the statement of financial position. In most cases‚ companies report assets in reverse order of liquidity. An example of the order of accounts
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2-40 Strategic positioning The emphasis in the case info on the product quality and craftsmanship‚ is the best described as differentiation on the quality of the product. In contrast‚ the company is more likely to succeed if it can continue to appeal to those customers looking for up-scale‚ higher quality table lamps and lighting fixtures. When using differentiation as the Company’s strategy‚ it becomes clear that maintaining the Classic line is critical to the company’s success. Thus‚ elimination
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inventory purchases during 2011? (Hint: You have to consider both the change in Accounts Payable and the change in Inventory.) BB A/P + Purchases – Payments = EB A/P 5856 + 48535 – Payments = 8161 5856 + 48535 – 8161 = Payments Payments = 46230 5. How did the LIFO liquidation affect CAT’s operating income. How would it affect the net income? (In answering this question you have to estimate or assume the tax rate that CAT paid in 2009). Operating income increased by $300 million.
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Case Study 5 (Chrystell) 1. What is the crisis experienced in Erikson’s first stage of psychosocial development? How did Chrystell resolve this stage? What was the outcome of the crisis? Was it favorable or unfavorable? The crisis experienced in Erikson’s first stage of psychosocial development is Trust vs. mistrust: “during this stage the infant is completely dependent on the mother. The baby’s interaction with the mother determines whether an attitude of trust of mistrust for future dealings
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