new‚ updated‚ enhanced IT Infrastructure (hardware‚ databases‚ networks‚ business intelligence‚ RFID‚ sensor networks‚ and/or software) required to support the solution. The line items that come out of this section should be part of the investment cost details in Section 4. Solution Assessment -
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1. The chief economist for Argus Corporation‚ a large appliance manufacturer‚ estimated the firm’s short-run cost function for vacuum cleaners using an average variable cost function of the form. AVC= a + bQ+ cQ^2 (the 2 is suppose to be exponent) Where AVC=dollars per vacuum cleaner and Q=number of vacuum cleaners produced each month. Total fixed cost each month is $180‚000. The following results were obtained: Dependent Variable:AVC R-Square
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Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question‚ depreciation expense or depreciation cost can either be fixed or variable and this depends on the
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11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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Cost Accounting – Classification of costs Cost accounting refers to a process of accumulating‚ recording‚ classifying and analyzing all costs incurred at various levels of production. The purpose of cost accounting is manifold. It provides a final selling price‚ suggests the best possible course of action where maximum savings are possible and a strategy for future. Cost accounting is also constructive in comparing the input and output results that ultimately aids the management to arrive at a financial
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FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000 per year for quality inspection
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POSANI THANUJA Mob: 09902428428 Posani.thanuja@gmail.com Female‚ 22 years‚ Languages: English‚ Telugu OBJECTIVE: To associate with an Organization‚ which provides the opportunity
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CH. 1 The world had purposely been split into four kingdoms. The largest kingdom is towards the north and its name is Ardraven‚ it is known as the militarian kingdom. The kingdom to the south is Eroibell‚ it is the kingdom of crops. The eastern kingdom is Taos‚ the kingdom of minerals and mining. The last kingdom is to the west and it is Lagrasia‚ the kingdom of medicine. The four kingdoms created an occurrence that proved that every human being would have a mark. These marks are to come in the form
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What is Product Quality Control? The process that is used to assure a certain level quality in a service or product is called Quality Control. All businesses are required to implement a quality control and verification of a products and services that they will going to serve or sell. To meet standard requisites and characteristics of a certain products such as dependability‚ durability and satisfaction of the buyer is the main goal of quality control. This method employs an importance on three
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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