1/ Variable Costs: The variable cost will be 40% higher [ an increase of 21‚000 - 15‚000=6‚000 units] Direct Material used 1‚060‚000 Variable Costs: Direct Labor 1‚904‚000 Direct material used [ 1‚060‚000 *1.4] 1‚484‚000 Unit costs [ 6‚335‚600 / 21‚000] =$ 301.7 Indirect Materials and supplies 247‚000 Direct Labor [ 1‚904‚000 * 1.4] 2‚665‚600 Variable Cost/ Unit = 228.27 at both 15k & 21k units Power to run plant eqip 213‚000 Indirect Materials
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Various Methods of Transportation in the Supply Chain Transportation is defined as the movement of people‚ materials or products from one location to another. “Transport is important since it enables trade between people‚ which in turn establishes civilizations.” Logistics is referred to as both the freight and inventory management (i.e. planning‚ execution and control) as well as the warehousing of materials and products (i.e. food‚ equipment‚ liquids and staff‚ including abstract items like
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Professor and class‚ * How do the two systems differ? The two alternatives for product costing systems are job and process. The two differ in that with job costs these are specified for a particular job. Process costs go by each process that is done (Kinney & Raiborn‚ 2013‚ p 150). * What are the characteristics of the companies that would use each? The characteristics of the companies that would use either a job-related system or a process system would be determining how many of the products
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Conceptual Framework Cost Accounting Cost accounting‚ as a tool of management‚ provides management with detailed records of the costs relating to products‚ operations or functions. Cost accounting refers to the process of determining and accumulating the cost of some particular product or activity. It also covers classification‚ analysis and interpretation of costs. The cost so determined and accumulated may be the estimated future costs for planning purposes‚ or actual (historical) costs for evaluating
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essays in behavioural nance: An examination into non- Bayesian Investment behaviour ANTONIOU‚ CONSTANTINOS How to cite: Three essays in behavioural nance: An examination into nonBayesian Investment behaviour‚ Durham theses‚ Durham University. Available at Durham E-Theses ANTONIOU‚ CONSTANTINOS (2010) Online: http://etheses.dur.ac.uk/428/ Use policy The full-text may be used and/or reproduced‚ and given to third parties in any format or medium‚ without prior permission or charge‚ for
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2013/3/31 Introduction: The Nature and Purpose of Econometrics Continuous and Discrete Data What is Econometrics? Literal meaning is “measurement in economics”. Definition of financial econometrics: The application of statistical and mathematical techniques to problems in finance and accounting. Continuous data can take on any value and are not confined to take specific numbers. Discrete data can only take on certain values‚ which are usually integers Types of Data Dummy
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range of accounting application is expanding rapidly‚ along with the increasing demand of economic market. As is well known‚ accounting is a key aspect of business. And in the accounting profession‚ there has been already existed interpenetration and overlapping among the different kinds of accounting. Cost accounting and financial accounting are two main components of accountancy. The former one is a part of accounting. In cost accounting‚ it dramatically researches the variable cost‚ fixed cost‚ overheads
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Topic:Responsibility Accounting and Cost Control. Subject: Management control systems Index: |Sr.No |Topic |Page No | |1 |Meaning of Responsibility Accounting |3 | |2 |Steps involved in Responsibility Accounting
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Direct Cost 2. Indirect Cost 3. Cost Object 4. Cost Driver 5. Cost Allocation 6. Cost Sheet 7. Semi variable cost 2. Write a detailed note on Target Costing. (DEC‚ 2010) 3. Write a note on methods of absorption of overheads. (DEC‚ 2010) 4. Write a note on classification of overheads. (DEC‚ 2010) 5. Write short notes on the following: i. Product Costs ii. Period costs iii. Out of pocket cost iv. Sunk Costs v. Opportunity cost vi. Replacement cost vii. Joint cost (DEC‚ 2011)
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INTRODUCTION Realised-profit‚ matching-based‚ historical cost accruals accounting (HCA) has for over fifty years been repeatedly challenged as being an inadequate basis for the measurement of "income" which reports increments in the value of businesses. Such challenges continue unabated and are made by both accounting standards regulators and by academic commentators. Despite its obvious deficiencies for measuring valuation based income‚ and subject to concept of prudence‚ internationally HCA remains
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