------------------------------------------------- ASSIGNMENT ON COST CONTROL AND COST REDUCTION ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------
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INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000
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11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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What is Cost & Management Accounting Reporting Systems? Cost Accounting Reporting System deals with the process of tracking‚ measuring‚ recording and classifying the appropriate allocation of expenditure (financial and non-financial) for the determination of the cost of product or service in an organization and for the presentation of suitably arranged data for the purpose of control and guidance of management (Horngren et al‚ 2010). Costs are measured in terms of Direct Costs‚ Indirect Costs and
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Continuing Case: Carter Cleaning Centers Mskatdog Online University Continuing Case: Carter Cleaning Centers I. Make a list of five specific HR problems you think Carter Cleaning Centers will have to grapple with. 1) Carter Cleaning Centers will have to grapple with communication issues between the various centers and will need to establish some type of communication standard by which all the centers receive the same information‚ and are delivering identical information to all of its
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corporations have to take. Cost analysis is one of the factors that should be taken into consideration while evaluating financial and investment decisions. This paper reviews the concept of cost analysis‚ how it is used in decision making‚ and how firms usually involve cost analysis in evaluating different projects. Furthermore‚ the paper discusses some of the main concepts that are derived from cost analysis such as cost allocation‚ cost-effectiveness analysis‚ and cost-benefit analysis. In addition
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The Gateway to Success India is one of the world’s largest‚ most ancient countries; after being conquered by innumerable rulers and kingdoms‚ it stands today as the world’s largest democracy. With a 62 year old constitution‚ India’s independence is relatively recent‚ but it still prides itself on its sovereign‚ secular and democratic republic. Just like its historical roots‚ India has a very diverse geographical setting. The country is basically a very large peninsula with a 4‚700 mile coastline
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following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3‚067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4‚571 B. $3‚757 C. $3‚090 D. $3‚427 Applied manufacturing
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In what ways can success and ambition be dangerous? Since our birth‚ we are encouraged to go forward‚ to reach farther and to shoot for higher goals in life. In the words of Donald Trump: “Get going. Move forward. Aim High. Plan a takeoff.” But‚ are ambition and pursuit for success turning into an obsession nowadays? The authors Lotte Bailyn‚ Karen Heller and William Zinsser agree that they are‚ and unfortunately‚ I have to endorse their idea. All three authors’ view that‚ as Heller put it “…there’s
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Employee feedback should be encouraged by the managers as it tells them how motivated and satisfied the employees are in the organization (Importance of Employees Feedback‚ 2009) 3. The rationale for why this is important for organizational success a. Identifying motivations and job performance areas for improvement and provide coaching tailored to employee’s needs in the best interest of the organization to increase productivity and succession planning (Studer‚ 2008). b. Employees feel that
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