___________ 1. Cost accounting systems are used to supply cost data information on costs incurred by a manufacturing process or department. True False 2. A manufacturer may employ a job order cost system for some of its products and a process cost system for others. True False 3. A job order cost accounting system provides for a separate record of the cost of each particular quantity of product that passes through the factory. True False 4. A process cost accounting system
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Brompton Bicycle The success of the brand has been built on well designed‚ well-engineered and well made products. Therefore‚ Brompton should not be afraid to charge a premium price; it just needs to understand the limit of the price premium the brand will carry. Brompton should pride itself for its bikes being handmade in the UK. Spending hundreds of thousands of pound to expand quickly is a huge risk. It may therefore be beneficial for Brompton to consider growing incrementally. The company
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break even? 2. Using budget data‚ what was the total expected cost per unit if all manufacturing and shipping overhead (both variable and fixed) were allocated to planned production? What was the actual cost per unit of production and shipping. 3. Prepare a flexible budget for 180‚000 iPhone 4’s and calculate flexible budget variances using actual costs for August. 4. Estimate material price and usage for flash memories‚ labor rate and usage (efficiency) variances‚ and the overhead spending
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Opportunity Cost Scarcity of resources is one of the more basic concepts of economics. Scarcity necessitates trade-offs‚ and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms‚ the opportunity cost of a decision is based on what must be given up (the next best alternative) as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost contrasts to accounting cost in
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880 Plant Overhead $122‚000 DL rate/hour $30 Y oungstown has a tradition al cost sys tem. It calc ulates a p lant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. • Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability of the four products. The assignment
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Americanhttp://abs.sagepub.com/ Scientist Behavioral IT Offshoring and American Labor William Aspray American Behavioral Scientist 2010 53: 962 DOI: 10.1177/0002764209356232 The online version of this article can be found at: http://abs.sagepub.com/content/53/7/962 Published by: http://www.sagepublications.com Additional services and information for American Behavioral Scientist can be found at: Email Alerts: http://abs.sagepub.com/cgi/alerts Subscriptions: http://abs.sagepub.com/subscriptions
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of firms about labor market 1. Workers are all alike 2. Wages are set by the market 3. Firm’s goal is to earn the highest possible profit Wages = cost of an extra worker The firm will hire until (value of extra worker = wage) Production Function A= productivity Marginal product of labor(MPN) MPN decreases as #workers inc. The benefit of employing an additional worker in term of the extra output produced. Marginal revenue product of labor(MRPN=P X MPN)
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Pro: Child Labor The majority of people’s opinion on the idea of child labor is derived from the images in the media. They are only exposed to the horrible images of adolescents working very dangerous and degrading jobs and from this they are quick to side with the elimination of child labor. What many people are not aware of is the necessity for child labor in many developing countries. Our paper outlines the causes of child labor and the need for children to work in many countries‚ the unseen benefits
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use of a single burden rate. Burden costs of the testing rooms as well as other costs such as admin were grouped into a single cost pool and then divided by the total labor dollars. This resulted to a single burden rate of 145% of direct labor dollars (cost driver). This method is not appropriate for Seligram because the information on the case present that direct labor hours and machine hours vary by product line and activity. In addition‚ the burden cost of the main and test room also significantly
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Mentor Author Study Mordicai Gerstein was born in Los Angeles‚ California in 1935. He spent twenty-five years working as a designer‚ an artist and director of animated films before turning to children’s books. In 1971 he joined Elizabeth Levy‚ and together they created the series Something Queer is Going On. In 1980‚ he started writing and illustrating his own books. His books are wide ranged from subject‚ style and the age group addressed from contemporary fantasy and Biblical retellings‚
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