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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Sulfur Cycle Sulfur (S)‚ the tenth most abundant element in the universe‚ is a brittle‚ yellow‚ tasteless‚ and odorless non-metallic element. It comprises many vitamins‚ proteins‚ and hormones that play critical roles in both climate and in the health of various ecosystems. The majority of the Earth’s sulfur is stored underground in rocks and minerals‚ including as sulfate salts buried deep within ocean sediments. The sulfur cycle contains both atmospheric and terrestrial processes. Within the
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Homework Week 2 Exercise E1-1 SEC – K Audit – G Sole Proprietorship – I Corporation – E Accounting – A Accounting Entity – D Audit Report – J Cost Principle – F Partnership – C FASB – L IASB – H Unit of Measure – B GAAP – N IFRS – M E1-2 Accounts receivable – Asset Cash and cash equivalents – Asset Net sales – Revenue Notes payable – Liability Taxes payable – Liability Retained earnings – Stockholders’ Equity Cost of products sold – Expense Marketing‚ administrative
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Oxygen Cycle Required for Life All living things use oxygen or depend on organisms that use oxygen in some way. All Animals and Other Consumers Use Oxygen We use oxygen to break down simple sugar and release energy. This can be done through respiration or fermentation. Animals mainly use respiration. Respiration The process that breaks apart simple food molecules to release energy. It occurs inside cells. What YOU do with the oxygen
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For this case study I will be using The Cycle of Change (TCC) or otherwise known as the Transtheoretical Model of Change (TTMC) by Prochaska & DiClemente (1983). This theory was originally used to facilitate and understanding process of behavioural change (Horwath & Morrison 2001). Originally used to understand the process of change for people that wanted to stop smoking‚ it is now applied and used with a wide range of issues. For example‚ treatment from a range of genetic concerns‚ domestic abuse
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Case 26-4: Baldwin Bicycle Company* Note: This case is unchanged from the Eleventh Edition Approach The broad issue in this case is the analysis of the profitability of a company’s sales to specific customers. Most differential cost cases dealing with incremental volume are such that the student can reasonably assume that the “great majority (if not all) of the differential cost items will be variable costs. In this instance‚ a possible medium-to-long term volume increase of 22 percent suggests that
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linked with education. With the poor education system that is currently in place there is no way for many people to break out of what is called the cycle of poverty. The cycle of poverty is when people are unable to be educated so they are unable to get a job that pays enough to allow them to end the vicious cycle. There are a few causes for this cycle such as financial instability or the class sizes being too large. To begin with‚ students who are financially
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Identify the problem. The WGN Company has a bonus arrangement that grants the financial vice president and other executives a $15‚000 bonus if the net income exceeds the previous year’s by $1‚000‚000. Nothing that the current financial statements report an increase of $950‚000 in the net income‚ Vice President Jack Brickhouse asks Louise Boudreau‚ the controller‚ to reduce the estimate of warranty expense by $60‚000. The present estimate of warranty expense is $500‚000 and is known by both Brickhouse
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and Preparing Financial Statements QUESTIONS 1. The cash basis of accounting reports revenues when cash is received while the accrual basis reports revenues when they are earned. The cash basis reports expenses when cash is paid while the accrual basis reports expenses when they are incurred (and matched with revenues they generated). 2. The accrual basis of accounting generally provides a better indication of company performance and financial condition than does the cash basis. Also‚ the
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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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