Cost Accounting -- MIDTERM 1 1) Pointed Pencil company incurs the following costs in its manufacture of pencils. Classify each one of them according to one of the value chain functions: Functions: A) Research and Development B) Design of products‚ services‚ and processes. C) Production D) Marketing E) Distribution F) Customer Service G) Strategy and Administration ____ 1) Cost of wood used in manufacture of pencils. ____ 2) Cost of wood used in packing cartons to ship pencils. ____
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Cost Classifications for Decision-Making. Every decision involves choosing from among at least two alternatives. Only those costs and benefits that differ between alternatives are relevant in making the selection. This concept is explored in greater detail in the chapter on relevant costs. However‚ decision-making contexts crop up from time to time in the text before that chapter‚ so it is a good idea to familiarize students with relevant cost concepts. 1. Differential Costs. A differential cost
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liturgy performed five times a day (preferably in a mosque) and oriented toward Mecca. It can be said to be a rite‚ common in most Africans and Arabians countries. In summary‚ it is an Islamic obligatory prayer. Taking a closer look at this memorable historical event‚ the history‚ method and benefits of Salah are interesting topics that can help give us a better analysis. In regards to the history of Salah‚ as said earlier‚ Salah began with Prophet Muhammad; he was in the upper part of
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The Negative Effects of Genetically Modified Food in Society Since genetic modification in food has become a way to produce new products‚ it has had some negative effects on society. One of the main negative effects on genetically modified food are the health issues they cause. Since new nutrients such as proteins insert into the DNA of these foods‚ different allergic reactions can develop in people who consume them. Sometimes the new qualities of modified foods can cause a person to become allergic
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Genetically Modified Organism Debate A genetically modified organism is used to refer an organism whose genetic material has been changed by genetic engineering techniques‚ which cut and combine DNA molecules from different organism into one molecule (Wikipedia‚ 2012). This way‚ scientists can give it new characteristics that people desire but do not have normally. Since the benefits brought by genetically modified organism are extremely obviously‚ such as lower production costs and
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BM6026 - Managerial Accounting & Finance Mini Assignment - Sem 1 2014/2015 Name : Suriati Binti Yusse Matric no : MB1412199T Class : Tuesday - 7.00PM - 10.00PM product selling price Variable Cost : Material : Extract of Tongkat Ali Other Ingredients Packing Material Overhead Cost : Drying cost of liquid Other Overhead Cost Labour Cost : Processing Packaging Total Variable Cost Unit Contribution Margin Expected volume sales % of total sales Weighted Contribution Q1 : capsule
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Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the identifiable assets acquired and liabilities assumed must meet the definitions of assets and liabilities in FASB Concepts Statement No. 6‚ Elements of Financial Statements‚ at the acquisition date. For example‚ costs the acquirer
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CHAPTER 2 21. Generally accepted accounting principles a. are fundamental truths or axioms that can be derived from laws of nature. b. derive their authority from legal court proceedings. c. derive their credibility and authority from general recognition and acceptance by the accounting profession. d. have been specified in detail in the FASB conceptual framework. 22. A soundly developed conceptual framework of concepts and objectives should a. increase financial statement users’
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Ethical Issue (Historical Facts) In today’s goal driven society‚ cheating has become more prevalent among college students. These students first look for ways to cheat in secondary school and continue unethical practices in college. Some universities have implemented an honor code to hold students responsible for academic honesty. Researchers have investigated factors associated with college students and cheating that include personal and situational characteristics of this group of individuals
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ACC 556 – Financial Accounting for Managers Chapter 1 Homework Due Week 1 and worth 10 points Directions: Answer the following four questions on a separate document. Explain how you reached the answer or show your work if a mathematical calculation is needed‚ or both. Submit your homework assignment using the homework assignment link in the course shell. E1-1 Here is a list of words or phrases discussed in this chapter: 1. 2. 3. Corporation Creditor Accounts receivable 4. 5. 6. Partnership Stockholder
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