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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Costs assigned to the building of a house should appear on the income statement when Answer a. the purchase order to manufacture the house is received. b. the house is sold. c. cash is collected for the sale of the house. d. the house is completed. The basic document for keeping track of costs in a job order costing system is a Answer a. labor time card. b. job order cost card. c. process cost report. d. materials requisition form. The following information is available at the
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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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Becoming a Fair-Minded Thinker Weak versus Strong Critical Thinking Critical thinking involves basic intellectual skills‚ but these skills can be used to serve two incompatible ends: self-centeredness or fair-mindedness. As we are learning the basic intellectual skills that critical thinking entails‚ we can begin to use those skills in a selfish or in a fair-minded way. For example‚ when students are taught how to recognize mistakes in reasoning (commonly called fallacies)‚ most students see
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important recent development has been the challenge of globalization and the need for harmonization of financial reporting in facilitating the most efficient allocation of funds globally. Harmonization applies not only to the financial reporting standards applied in preparing financial statements but to the credibility attached by the audit process. In an increasingly complex world‚ the OAGP should be able to maintain confidence in its reputation for independence‚ objectivity‚ knowledge and understanding
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Instructional Setting and Content Area The main campus of Olivet Nazarene University is in Bourbonnais‚ IL‚ approximately 55 miles South of Chicago. The school of graduate and continuing studies consists of faculty‚ who live in the Bourbonnais area‚ and adjunct instructors who can live anywhere in the United States. All of the faculty subscribe to a statement of faith which binds them together as they strive to provide education with a Christian purpose. There are many faculty development initiatives
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research activities on behalf of the accounting profession as a whole. A major responsibility of the Foundation is the development of Statements of Accounting Concepts and Accounting Standards. The Public Sector Accounting Standards Board is one of the boards of the Foundation. The Australian Accounting Standards Board was established by section 224 of the Australian Securities Commission Act 1989. It has responsibility for the development of accounting standards for application by companies and
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“The theories we use to help us understand standard-setting in national arenas (such as Australia) don’t work so well at the international level where the . . . International Accounting Standard Board (IASB) is taking a leading role. We will have to modify them or expand our theoretical repertoire” Discuss the above statement‚ clearly indicating your agreement or otherwise about the basis for your views. Abstract: The theories that are presented in this paper all assume the importance of a
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CHAPTER ONE DEDUCTIVE AND INDUCTIVE APPROACHES – A SHORT REVIEW 1.1. Definitions and names When it comes to teaching grammar two main trends have been competing with one another for ages‚ these are: deductive and inductive approaches. While the first one seems to be more successful as it has continuously been applied since ancient times‚ the other was appreciated only in Classical‚ Reneissance‚ 19th and 20th century (Johnson‚ 1999‚ p. 147). However‚ it seems to have gained real popularity
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PSEUDOCODE STANDARD Example Pseudocode is a kind of structured english for describing algorithms. It allows the designer to focus on the logic of the algorithm without being distracted by details of language syntax. At the same time‚ the pseudocode needs to be complete. It describe the entire logic of the algorithm so that implementation becomes a rote mechanical task of translating line by line into source code. In general the vocabulary used in the pseudocode should be the vocabulary of
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