Cost accounting 4-37 General ledger relationships‚ under- and overallocation. The solution assumes all materials used are direct materials. A summary of the T-accounts for Needham Company before adjusting for under- or overallocation of overhead follows: Direct Materials Control Work-in-Process Control 1-1-2008 30‚000 Purchases 400‚000 Material used for manufacturing 380‚000 1-1-2008 20‚000 Direct materials 380‚000 Transferred to finished goods 940‚000 12-31-2008 50‚000 Direct manuf.
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Acknowledgement: Nothing can be done in individually. We are indebted to a number of people for their kind advice‚ suggestion‚ direction‚ and co-operation. First of all‚ we would like to thank Almighty Allah‚ as we have become able to complete our assignment appropriately and suitably. We are really grateful to our teacher for giving us an opportunity to gather some practical experience. We are grateful to Banoful & Co. for allow us to industrial visit in their production house. We are also
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Practice Task: BORROWING COST OF ISSUING BANK BILLS In order to fund its short-term operations‚ the Chief Financial Officer (CFO) of Best Company has decided use short-term money market instruments. The CFO has asked you and your team to advise the company of the best course of action. After a lengthy discussion with the CFO‚ it was decided to issue bank-accepted bills of exchange (bank bills). In order to obtain board approval‚ the CFO has asked you and your team to create a simple spreadsheet
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Information Technology International Academy for Business and Administration Logistics cost management Thesis Paper Supervised by: Prof. Dr. Siegfried Harmeling Student’s name: Li Li Student’s number: 05213116 Date: May 31‚ 2008 Synopsis In recent years‚ the logistics industry of China is developing rapidly. Even some big-size enterprises fizz in the first‚ second and third industry. It has become the huge and complex industry. The status of the logistics industry is more and more
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Costs and Consequences: Sweated Labor and Consumer Bargains Introduction: In order to make a wide variety of goods available at ever-decreasing prices or to maintain profits‚ retailers rely on low labor costs and working conditions that are often illegal in the United States. Tasks: Based on the information in the "Student Voice" section of Chapter 2‚ pp. 18–20‚ of your textbook‚ would you stop shopping at certain retailers? Is the consumption of food and clothing somehow different from the
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Q. The low birth rates in Singapore are due mainly to the high costs of living. To what extent is it true? Introduction: Singapore is experiencing a low birth rate that is currently at ~1.29 TFR. This is below the replacement level of 2.1 and has been so for more than three decades (Singapore ’s Total Fertility Rate (TFR) increased from 1.20 in 2011 to 1.29 in 2012. This is according to the Population in Brief Report 2013 released by the National Population and Talent Division in the Prime Minister
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CRIPPLING COST Every spring high school students across the country celebrate over recently received acceptance letters to college. The thought of attending a top American institution is thrilling for young scholars‚ and with a letter of admission the dream is almost a reality. Parents are often less enthused since they know college in this country is far from cheap. For many families the cost of higher education is a large hurdle on the road to success. Over the last 30 years the cost of private
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Compare the three retailers in terms of inbound transportation cost (from manufacturers to warehouse/retailer) and outbound transportation cost (from warehouse/retailer to customers). Transportation costs‚ as with most e-retailers‚ are higher at Blue Nile than at Tiffany or Zales. The outbound transportation distance and hence costs and time tend to be much higher when inventories are aggregated‚ as is the case at Blue Nile. In the case of Tiffany and Zales‚ some economies of scale can still be
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Opportunity Cost Lets start with a small introduction to the topic Opportunity Cost. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone‚ or group‚ who has picked among several mutually exclusive choices. The opportunity cost is also the "cost" (as a lost benefit) of the forgone products after making a choice. Opportunity cost is a
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following questions. Each question is worth 10 marks; Question 1: (a) Explain the impact of external costs and external benefits on resource allocation; (2.5 marks) Ans : Resources are over - allocated when negative externalities exist because the equilibrium price is too low. Resources are under - allocated when positive externalities exist because the equilibrium price is too high (b)Why are public goods not produced in sufficient quantities by private markets? (2.5 marks) Ans :The
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