Welcome to Managerial Accounting. In this module‚ we will provide a general overview of activity based costing‚ specifically: What is activity based costing? Welcome to Managerial Accounting Instructor: O Martin Email Instructor __________________________ ACTIVITY BASED COSTING SYSTEM Two stage process Activity pools Activity categories With & Without ABC example What is Activity based costing (ABC)? Activity based costing (ABC) assigns manufacturing overhead costs to products in a more logical
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1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SG&A - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an “inventoriable cost” ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SG&A (Selling‚ General & Administrative) are
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Marriage has gone through profound changes over the last five decades‚ but we continue to speak about it as though it’s the same old familiar pattern. To see how much has changed; I am going to look at the shift from the forties‚ to the sixties‚ to today. In 1968‚ less than a year after the famous Summer of Love‚ as they used to say out in the country‚ "The times they were a-changing." The sexual revolution‚ Viet Nam‚ drugs--the youth of the day were convinced the world would never be the same again
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Change over time essay Life changed between 500 C.E and 1650 C.E Because of the Middle ages and the crusades‚ the Renaissance and the humanistic art and literature and the Protestant Reformation and the splitting of the Catholic Church. Those three ages brought upon important historical events which we all know and study. The Middle Ages and the crusades where first and then came the Renaissance with humanistic art and then the Protestant Reformation and the splitting of the Catholic Church. Middle
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Importance of Business Ethics in Managerial Accounting When companies don’t see the importance of business ethics in managerial accounting they usually end up down the same road as Enron: bankrupt. And while that isn’t always true‚ the importance of business ethics in managerial accounting cannot be understated if you want your company to be a success. Why Ethics Is Important in Managerial Accounting The Enron scandal is probably the most well-known example of improper accounting ethics on
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Abstract Language‚ like any other cultural entity‚ can change over time. Languages have been created out of necessity‚ blossomed‚ and have been snuffed out throughout history. But‚ why would something as seemingly strong as language die? It can be argued that “when a civilization disintegrates‚ so does its language since language is the medium that purveys the values of that civilization. As the culture evolves‚ so does its language” Iraki‚ 2005‚ p.5). Latin is a perfect example of a language that
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Managerial Accounting Reality Check Summaries Professor Shin Hee-Lim Shin 1001006 Reality Check – What’s your blog’s ROI? Summary ROI has been always one of the important factors to determine how profitable the business is doing. However‚ for until last few decades‚ ROI was only implementing to evaluate the hard assets like buildings and equipment. But in nowadays‚ many companies are using ROI to evaluate the investment in technology‚ such as blog. As a following example‚ it shows that
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objects by utilizing cost drivers that measure the object’s use of that activity. 12. Milken Manufacturing has three product lines. The company’s new accountant‚ Marvin LaSance‚ is responsible for allocating facility-level costs to these product lines. Mr. LaSance is finding the allocation assignment a daunting task. He knows there have been disagreements among the product managers over the allocation of facility costs‚ and he fears being asked to defend his method of allocation. Why would the
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decrease over time Immigration is a very prominent thing in World History and U.S. History. It is very important to the immigrants who came from the old country to make a better life for themselves as well as for the rest of the family. Immigration around 1921‚ had over 65.7% of immigrants that were from Europe coming into the United States and by the 1980’s only about 12% of immigrants were from Europe. The reasons that immigration from Europe to the United States shrank over time is because
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to work. In the meantime‚ in spite of the remorselessness‚ slaves made families and society (tune‚ move‚ religion and training). This differing and complex establishment was not static. Rather the dynamic framework developed and changed after some time and put. For instance‚ life for a southern Virginia slave working tobacco in 1710 was not the same as life for a northern Virginia slave laboring on a wheat ranch in 1850. In spite of famous originations of subjugation‚ numerous slaves did not pick
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