Chapter 7 Variable Costing: A Tool for Management Solutions to Questions 7-1 The basic difference between absorption and variable costing is due to the handling of fixed manufacturing overhead. Under absorption costing‚ fixed manufacturing overhead is treated as a product cost and hence is an asset until products are sold. Under variable costing‚ fixed manufacturing overhead is treated as a period cost and is charged in full against the current period’s income. 7-2 Selling and administrative expenses
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Definition and explanation of mixed or semi variable cost: A mixed cost is one that contains both variable and fixed cost elements. Mixed cost is also known as semi variable cost. Examples of mixed costs include electricity and telephone bills. A portion of these expenses are usually consists line rent. Line rent normally is fixed for each month. Variable portion consists units consumed or calls made. The relationship between mixed cost and level of activity can be expressed by the following equation
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Introduction: The broad significance of the research is to identify and correlate the human body’s pattern of fluctuation of glucose and insulin‚ to the sugar content in the food we eat and drink. We are trying to prove that when we consume “sugary” drinks or foods‚ that our blood glucose levels rise sharply‚ and slowly our body will start absorbing that glucose into our tissues through the aid of insulin‚ and blood glucose levels will again lower to normal levels. In our case we used soda‚ and
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decided to drink something and went to the cafe. My cousin and I ordered lemonade‚ Shymi ordered coke and Ollie ordered some icetea. While we were drinking our drinks‚ we talked about our home countries. Shymi told that she like to feel warmth on her skinbut she can barely see the sun in Russia. And Harry said that he can barely see the sun either‚ because of the pouring rain. After a little more chit-chat‚ dinner time came and 4 of us went to the dining hall. We ate something‚ took our drinks and went
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Renewable Energy Summary Renewable energy flows involve natural phenomena such as sunlight‚ wind‚ tides‚ plant growth (biomess) and geothermal heat. According to the International Energy Agency (2002)‚ “Renewable energy is derived from natural processes that are replenished constantly. In its various forms‚ it derives directly from sun‚ or from heat generated deep within the earth. Included in the definition is electricity and heat generated from solar‚ wind‚ ocean‚ hydropower‚ biomass‚ geothermal
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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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FOREIGN POLICY “Foreign Policy begins where domestic policy ends” (Henry Kissinger) INTRODUCTION Foreign Policy refers to the ways in which the central governments of sovereign states relate to each other and to the global system in order to achieve various goals or objectives. A country’s foreign policy is a set of political goals that seeks to outline how that particular country will interact with other countries of the world and‚ to a lesser extent‚ non-state actors. Foreign policies
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Work Renewable and Non-renewable energy sources &Fuels: Renewable energy comes from natural sources that are constantly and sustainably replenished. The most common renewable energy sources are biomass‚ hydroelectric‚ geothermal‚ wind power and solar power. Sunlight is the source of most renewable energy power; the sun can be used to produce solar energy which is electricity for heating‚ cooling‚ lighting homes and transportation. [1] Non-renewable energy is energy that comes from the ground and
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INTRODUCTION Energy is the basic necessity for life. But for energy no form of life would have ever emerged. We all know energy for providing us light and comfort. It can help us to cool down during summers and feel warm during winters. It also helps us to go from one place to another. All automobiles need energy to run; but even otherwise all other means of transport need energy. But even though we use it every moment of our life and learn about it at school it often remains a riddle
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Tim Ta Mrs. Shuck English IV 3rd hour 22 February 22‚ 2011 Food and Drink in England Have you ever wondered how other countries choice of food and drink or customs differed from your own? In England‚ their diet and customs do not differ as much from our own. We have similarities such as the main courses of breakfast‚ lunch‚ and dinner such as our choices of diet over the centuries has changed. But differences such as tea time‚ which is a very important social time in England‚ and their choice
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