• Jobs are assigned to each job or batch • A job may be for a specific order of inventory Process cost system : • This cost system is generally used when a large volume of similar products are manufactured Answers: a. A custom yacht builder – job order costing b. A golf course designer – job order costing c. A potato chip manufacturer – process costing d. A business consultant- job order costing e. A plywood manufacturer – process costing f. A
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"right" and that is not acceptable or "wrong" based on conventional morality. General ethical norms encompass truthfulness‚ honesty‚ integrity‚ respect for others‚ fairness‚ and justice. They relate to all aspects of life‚ including business and finance. Financial ethics is‚ therefore‚ a subset of general ethics. Ethical norms are essential for maintaining stability and harmony in social life‚ where people interact with one another. Recognition of others ’ needs and aspirations‚ fairness‚ and cooperative
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the oldest known writs‚ at first used to limit the jurisdiction of the ecclesiastical courts‚ was later used by the common law courts in the battles with the Court of Chancery‚ and other courts more closely associated with the Crown. Mandamus in the 13th century was a means of ensuring performance of acts to safeguard the King’s feudal dues rather than an instrument for enforcing public duties‚ but in the reign of Edward II it was used to direct the University of Oxford to readmit a person it had expelled
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Appalachian Coal Mining believes that it can increase labor productivity and‚ there- fore‚ net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is MC = 40P where P represents a reduction of one unit of pollution in the mines. It also feels that for every unit of pollution reduction the marginal increase in revenue (MR) is MR =1‚000 =10P. How much pollution reduction should Appalachian Coal
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Major Assignment 1) a) Demand Function: Quantity Demanded (Qd) = a + b* Price (P) Supply Function: Quantity Supplied (Qs) = a + b* Price (P) Where: a = constant b = the change in quantity as a result to the change in price. Demand Function: Quantity Demanded (Qd) = a + b* Price (P) b = (420 – 350) / (20 – 25) = 70 / -5 = -14 Using: P = 25‚ Qd = 350 350 = a – 14 * (25) 350 = a – 350 Therefore a = 700 and the demand function would be: Qd = 700 – 14 * P Supply Function:
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Discussions for Managerial Accounting: Week 4: Discussion 1 How does activity-based costing differ from the traditional costing approach? When would it give more accurate costs than traditional costing systems? * Activity based costing (ABC) is a method for assigning costs to products‚ services‚ projects‚ tasks‚ or acquisitions‚ based on the activities that go into them and the resources consumed by these activities. ABC contrasts with traditional costing‚ which sometimes assigns costs using
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APPROVALBOOK.COM Page 1 Strategic Marketing Problems 13th Edition Solution STRATEGIC MARKETING PROBLEMS 13TH EDITION SOLUTION Strategic Marketing Problems 13th Edition Solution a great book which gives a great insight into the workings of a strategic marketing problems 13th edition solution. Clear descriptions of various systems within the strategic marketing problems 13th edition solution. Written from an american point of view but this doesn’t really detract from a great book. This is a great
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important ability for many individuals‚ including finance professionals‚ operational and marketing managers‚ top-level executives‚ and information technologists. Managerial accounting is therefore concerned with the provisions and use of accounting information to managers within organizations‚ to provide them with the basis to make informed business decisions that will allow them to be better equipped in their management and control functions. Managerial accounting therefore is important to a manufacturing
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5-5 Production Report‚ No Beginning Inventory Wantler Company Mixing Department ------------------------------------------------- Production Report for 2001 Unit Information Units to account for: Units in beginning WIP 0 Units started 75‚000 Units to account for 75‚000 Units accounted for: Equivalent Units Physical Direct Conversion Flow Materials Costs Units completed 75‚000 75‚000 75‚000 Units in ending WIP 12‚000
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SUPPLY supply curve - in economics‚ graphic representation of the relationship between product priceand quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis. In most cases‚ the supply curve is drawn as a slope rising upward from left to right‚ since product price and quantity supplied are directly related (i.e.‚ as the price of a commodity increases in the market‚ the
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