Chapter 8 Cost Estimation and Budgeting 8.1 True/False 1) Direct costs are those clearly assigned to the aspect of the project that generated the cost. Answer TRUE 2) Material is an example of a cost that is recurring‚ variable and direct. Answer TRUE 3) An expedited cost is one that does not vary with respect to their usage. Answer FALSE 4) An order of magnitude estimate is usually more accurate than a ballpark estimate. Answer FALSE 5) Comparative estimates are more accurate than definitive
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staff since the recession—and pallets of merchandise are piling up in its stockrooms as shelves go unfilled. In the past five years the world’s largest retailer added 455 U.S. Walmart stores‚ a 13 percent increase‚ according to company filings in late January. In the same period its total U.S. workforce‚ which includes employees at its Sam’s Club warehouse stores‚ dropped by about 20‚000‚ or 1.4 percent. A thinly spread workforce has other consequences: longer checkout lines‚ less help throughout the
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Cost Allocation University of Phoenix Accounting in Healthcare ACC561 December 12‚ 2010 Cost Allocation Transfer Pricing [pic] [pic] Transfer pricing is a value attached to the output of a department to measure the value of the trade with other departments within the organization. Transfer prices will not affect the organization’s profit results. This contributes directly to the process of departmental performance measurement and indirectly to the measurement of a product
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Name: Class: Cost Accounting Date: 02.12.2012 Quiz 5 1) Absorption costing: A) expenses marketing costs as cost of goods sold B) treats direct manufacturing costs as a period cost C) includes fixed manufacturing overhead as an inventoriable cost D) is required for internal reports to managers 2) Variable costing: A) expenses administrative costs as cost of goods sold B) treats direct manufacturing costs as a product cost C) includes fixed manufacturing overhead as an inventoriable
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DOWNLOAD PROJ 592 Project Cost and Schedule Control Week‚ TCOs‚ and Topics Readings Assignments Week 1 TCOs A & B Project Definition‚ WBS‚ and Cost Project Management for Business‚ Engineering and Technology Chapter 5: Planning Fundamentals (pp.157-195) Earned Value Project Management Chapter 6: Scope the Project (pp.47-61) You Decide Graded Discussion Topics Week 2 TCOs B & C Financial Plan Project Management for Business‚ Engineering and Technology Chapter 8: Cost Estimating
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endorses all checks and prepares a deposit slip for the checks and the cash. A clerk then deposits the checks‚ cash‚ and deposit slip at the local bank each day. When checks are received as payment for accounts due‚ a remittance slip is included with the payment. The remittance slips are used to update the accounts receivable file at the end of the day. The remittance slips are stored in a file drawer by date. Every week‚ a cash receipts report and an aged trial balance are generated from the data in
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Case Study Inventory The Cost of Inventory The general principle for cost inclusion into inventory for US GAAP and IFRS is similar but not exactly the same. First let us look at US GAAP. The basis of accounting for inventories is “cost‚” which is explained in ASC 330-10-30 paragraph 1 as “the sum of the applicable expenditures and charges directly or indirectly incurred in bringing an article to its existing condition and location.” These costs are divided into two different categories‚ the
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treatment for share issue costs As you requested‚ I have researched the accounting issue‚ regarding the proper accounting treatment for the share issue costs. I hope this recommendation will be of assistance to you. Share issue cost: A corporation may incur miscellaneous costs that are related directly to issuing its capital stock. When related to the initial issuance of stock at incorporation‚ the corporation records these costs as an expense. On the other hand‚ the costs related to later issuances
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Cost leadership Strategy Strategy used by businesses to create a low cost of operation within their niche. The use of this strategy is primarily to gain an advantage over competitors by reducing operation costs below that of others in the same industry. For example‚ The Swedish furniture retailer Ikea revolutionized the furniture industry by offering cheap but stylish furniture. Ikea is able to keep its prices low by sourcing its products in low-wage countries and by offering a very basic level
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Assignment: Fixed cost Dora McKinney Hsm/260 Week 4 Instructor: Greg O’Donnell Fixed Costs‚ Variable Costs‚ and Break-Even Point Exercise 10.1 Month Meals Served Total Costs July 3‚500 $20‚500 Low August 4‚000 22‚600 September 4‚200 23‚350 October 4‚600 24‚500 November
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