Direct Cost 2. Indirect Cost 3. Cost Object 4. Cost Driver 5. Cost Allocation 6. Cost Sheet 7. Semi variable cost 2. Write a detailed note on Target Costing. (DEC‚ 2010) 3. Write a note on methods of absorption of overheads. (DEC‚ 2010) 4. Write a note on classification of overheads. (DEC‚ 2010) 5. Write short notes on the following: i. Product Costs ii. Period costs iii. Out of pocket cost iv. Sunk Costs v. Opportunity cost vi. Replacement cost vii. Joint cost (DEC‚ 2011)
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Practice Exam Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) If the marginal benefit of pizza exceeds the marginal cost of pizza‚ then compared to the allocatively efficient quantity‚ we are producing too ________ pizza and too ________ of other goods. A) little; much B) little; little C) much; little 1) D) much; much Answer: A 2) ________ is the difference between the value
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10 Promotion 10 Hilton Worldwide 10 Vision 10 Mission 10 Corporate Culture 11 Hilton Worldwide S.W.O.T Analysis 11 Market segmentation and positioning of Hilton Worlwide. 12 Brands in the Hilton Worldwide group. 12 12 The luxury Brands Waldorf Astoria and Conrad 12 Extraordinary places. A singular experience. 12 The luxury of being yourself®. 13 The business class hotel Hilton Hotels and Resorts and DoubleTree 14 The global leader of hospitality. 14 Where the little
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Analysis II. MANAGEMENT ACCOUNTING 3 i. The Objectives of Management Accounting: ii. Scope of Management Accounting: iii. Functions of Management Accounting: iv. Advantages of Management Accounting: v. Limitations of Management Accounting: vi. Tools and Techniques: III. INTRODUCTION TO FINANCIAL RATIOS 8 i. Financial Ratio Analysis: ii. Users of Accounting Information: IV. DESCRIPTION AND DETAIL OF THE COMPANY – SRI LANKA TELECOM 14 V. ANALYZING THE VARIOUS
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a. Overhead costs are traced to departments‚ then costs are traced to products. b. Overhead costs are traced to activities‚ then costs are traced to products. c. Overhead costs are traced directly to products. d. All overhead
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the next time they are in need of your products or services. A customer must feel like the product or service he bought from your company was worth the price. A company’s reputation relies heavily on the quality of its products or services. This is relevant to both customer reviews and company marketing. For example‚ high-end clothing designers or expensive car companies often set the bar high through their marketing efforts‚ which typically promise perfection‚ as well as the expensive price tags on
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BUSINESS AND TRANSFER TAXATION 6th Edition (BY: VALENCIA & ROXAS) 105 SUGGESTED ANSWERS Chapter 14: OTHER PERCENTAGE TAXES CHAPTER 14 PERCENTAGE TAXES Problem 14–1 1. False – 3% of gross sales or gross receipts. 2. False – business tax. 3. False – advalorem tax. 4. False – if the business is VAT-registered or engaged in business tax-exempt transactions‚ it shall not be subject to 3% OPT. Also not all OPT rate is 3%. 5. False – Non-VAT business is not allowed to have Input VAT. 6. True
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what conditions is direct labor a valid basis for allocating overhead? Direct labor is a valid basis for allocating overhead when: (a) direct labor constitutes a significant part of total product cost‚ and (b) there is a high correlation between direct labor and changes in the amount of overhead costs. 2. What has happened in recent industrial history to reduce the usefulness of direct labor as the library basis for allocating overhead to products? Recently in the industries‚ the amount of
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hours in the surgery suits were 3‚200 hours. The estimated overhead costs for the suites were $640‚000. Patient Sarah Handy was in surgery for 2.5 hours. Other costs related to Handy’s surgery include: Patient medicine $ 50 Cost of nurses 250 Cost of supplies 150 a. Determine the budgeted (i.e.‚ estimated) overhead rate for the surgery suites. b. Determine the total costs for Handy’s surgery. c. Short Stay Surgery would like to know
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Chapter 2 1. Which of the following would be considered a product cost for external financial reporting purposes? a. Cost of a warehouse used to store finished goods. b. Cost of guided public tours through the company’s facilities. c. Cost of travel necessary to sell the manufactured product. d. Cost of sand spread on the factory floor to absorb oil from manufacturing machines. 1. Which of the following would be considered a product cost for external financial reporting purposes
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