Meeting 1 MRF’s File COST ACCOUNTING “An Introduction to Cost Terms and Purposes” Assistant Lecturer: M. Ryan Firmansyah Problem 1 (Quiz 1 September 8‚ 2009) Consider the following costs that were incurred during the current year. Evaluate whether the cost is: 1. A product cost or a period cost 2. Variable or fixed in terms of behavior 3. For the product cost‚ whether it is classified as direct material‚ direct labor‚ or manufacturing overhead No. 1 Descriptions Product Cost Period Variable Fixed
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Table 10. Functions of COOP - PESOS Do you find the following functions of COOP-PESOS effective assessing your coop’s performance? | FUNCTIONS OF COOP-PESOS | 5(highly effective) | 4(adequately effective) | 3(somewhat effective) | 2(least effective) | 1(not at all) | MEAN SCORE | DESCRIPTIVE RATING | | R | RF | R | RF | R | RF | R | RF | R | RF | | | as a Supervisory and Regulatory tool | * ensures the safety of contributions of cooperative members who typically belong to the low
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Cost of Capital Firms need to make capital investment i.e.‚ purchasing fixed assets such as factories‚ machineries‚ equipment‚ etc. After deciding what capital investments to make‚ they need to decide on the financing – sources of capital. The sources: Long-Term Debt‚ Common Stock‚ Preferred Stock and Retained Earnings. Then they need to find the cost of obtaining each source of financing today (not historical). Cost of Capital - The rate of return that a firm must earn on its investment
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THE COST AND SALES CONCEPT Cost is defined as a reduction in the value of an asset for the purpose of securing benefit or gain. Cost is defined in a hotel and restaurant as the expense to a hotel or restaurant for goods or services when the goods are consumed or the services are rendered. KINDS OF COSTS 1. Fixed costs – are those that are normally unaffected by changes in sales volume. They are said to have little direct relationship to the business volume because they do not change
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Twenty Really Good Ice Breakers Strictly for Meetings and Special Functions Ice breakers are particularly well suited for beginning a speech or starting a meeting. As the name implies‚ they “break the ice‚” help participants relax‚ and generally set the tone for the presentation. They help to relax participants‚ and that makes them more receptive to listening and contributing. An ice breaker can also serve to create a “team atmosphere” and motivate participants to work with others
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COST SHEET – FORMAT |Particulars |Amount |Amount | |Opening Stock of Raw Material | *** | | |Add: Purchase of Raw materials |*** | | |Add: Purchase Expenses
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WHAT ARE COSTS AND PROFITS? HUNGRY HELEN’S COOKIE FACTORY • Helen‚ the owner of the cookie factory‚ buys flour‚ sugar‚ flavorings‚ and other cookie ingredients. • She also buys the mixers and the ovens and hires workers to run the equipment. • She then sells the resulting cookies to consumers. 2 TOTAL REVENUE‚ TOTAL COST‚ AND PROFIT • The amount that Helen receives for the sale of its output (cookies) is its total revenue. • The amount that the firm pays to buy inputs (flour‚ sugar‚ workers
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Cost of Quality (COQ) "The cost of quality." It’s a term that’s widely used – and widely misunderstood. The "cost of quality" isn’t the price of creating a quality product or service. It’s the cost of NOT creating a quality product or service. Every time work is redone‚ the cost of quality increases. Obvious examples include: The reworking of a manufactured item. The retesting of an assembly. The rebuilding of a tool. The correction of a bank statement. The reworking of a service‚ such as
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Alan Mulally’s restructuring of Ford Motor Company A Proposed Study 30th November‚ 2014 Abstract “Ford had been struggling during the late-2000s recession‚ returned to profitability under Mulally and was the only American major car manufacturer to avoid a bailout fund provided by the government. Mulally ’s achievements at Ford are chronicled in the book” wickipedia.com. Alan Mulally‚ while his tenant at the ford motor company‚ he has done so many managerial and structural changes
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UNEXPECTED COSTS Grantham University Abstract Unexpected inflation rates can happen‚ decreased prices in consumer goods and services happen all the time and in other times it can actually increase. It’s up to us to figure out how our financial future is going. Inflation When consumers expect an increased inflation rate statistics shows that most consumers spend more due to the fact that they know that they can get more bang for their buck before inflation rises than
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