Administrative expense – Sales expense Direct labor and direct materials are easy to trace to products. The problem comes with factory overhead. Traditional Costing Systems • Typically used one rate to allocate overhead to products. • This rate was often based on direct labor dollars or direct labor hours. • This made sense‚ as direct labor was a major cost driver in early manufacturing plants. Problems with Traditional Costing Systems • Manufacturing processes and the products they produce are now more
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Chapter 4 Outline I. Ancient Iran Iran’s mineral resources copper‚ tin‚ iron‚ gold‚ and silver were exploited on a limited scale in antiquity Mountain slopes‚ more heavily wooded. A. Geography and Resources Iran is by the Zagros Mountains to the west‚ the Caucasus Mountains and Caspian Sea to the northwest and north‚ the mountains of Afghanistan and the desert of Baluchistan to the east and southeast‚ and the Persian Gulf to the southwest. Humans trying to survive in these harsh lands had
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Tom was presented with a Bible because he was able to obtain ten tickets of each color provided‚ earned when reciting two thousand bible verses‚ after reciting the verses the reward is a Bible. I don’t think Tom deserved it because he didn’t quite have the required amount‚ and he also kept paying for tickets and trading things for them with anything he had instead of reciting verses the way he was supposed to. Judge Thatcher is especially important to Tom because the Judge is the father of the
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3101 MSOM 3rd in-class Group Assignment (Mod B and Ch 4) Q1) 39) A linear programming problem that aims to minimize cost‚ has two constraints 2X + 4Y ≥ 100 and 1X + 8Y ≤ 100. Which of the following statements about its feasible region is true? (2-points) A) There are four corner points including (50‚ 0) and (0‚ 12.5). B) The two corner points are (0‚ 0) and (50‚ 12.5). C) The feasible region is triangular in shape‚ bounded by (50‚ 0)‚ (33-1/3‚ 8-1/3)‚ and (100‚ 0). D) The graphical origin (0‚ 0)
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4–4 Property Tax Calculations and Journal Entries. The Village of Darby’s budget calls for property tax revenues for the fiscal year ending December 31‚ 2011‚ of $2‚660‚000. Village records indicate that‚ on average‚ 2 percent of taxes levied are not collected. The county tax assessor has assessed the value of taxable property located in the village at $135‚714‚300. Required a. Provide the required adjusting entries at the end of 2011‚ assuming that the December 31‚ 2011‚ balance of Inventory of
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The American Revolutionary war began in-part because of economic struggles England faced after securing safety for it’s colonies during the Seven Years War. England needed to increase their taxation on the colonists after the war to pay off its war debts. Prior to these taxes‚ the colonies were wholly content while under the wing of the British Empire. Not only because the protection the British provided‚ but also because of their deep reverence for the Motherland. Colonists were angered by with
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Getting things done through people and other resources and providing leadership and direction are what managers do. True An example of global sourcing is seen when Gap‚ Inc uses low-cost Caribbean labor to cheaply produce their clothing‚ and then finish off and sell their clothing in the United States. True The manager’s function in an organization is the same as the supervisor’s. True Most early interpretations of the Hawthorne studies agreed that money was the cause of the increased output.
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FIN 350 Prof. Porter Problem Set 4 1. Describe what happens to the total risk of a portfolio as the number of securities is increased. Differentiate between systematic risk and unsystematic risk and explain how total risk and systematic risk are measured. As the number of securities increases‚ the total risk of the portfolio decreases. This decrease occurs due to the benefits of diversification which is the process of acquiring a portfolio of securities that have dissimilar risk-return characteristics
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the combination of all three of the above E) none of the above Answer: D 3) Which of the following is considered to be an original hearth of urban settlement? A) Mesopatamia B) Egypt C) China D) Indus Valley E) all of the above Answer: E 4) Which of the following statements best describes an impact of the global recession that occurred in 2008? A) MDCs were affected more than LDCs. B) It was the first absolute decline in world GDP since the 1930s. C) The Midwest‚ South‚ and Western
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