EROW did well in all aspects with a sale of 89million and a net profit of 22.6million. Why did the two divisions with same products have such a difference? After further exam‚ management concluded the large fixed cost absorbed sale figure. First it is important to understand the standard costing system implemented in Rubber group. Standard costing assigns quantity and price standards to each component of variable and fixed costs in calculating the total cost. In the case of NASA‚ the system uses
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of traditional costing system is no longer relevance to the company to achieve competitive advantage. Nowadays‚ Activity Based Costing is considered as one of the effective tools to enhance the ability of the organisation to meet global competition. This had resulted in the change from traditional costing system to an increasingly popular costing system such Activity-Based Costing (ABC). ABC system has emerged as an alternative to traditional costing system to meet the need for accurate cost information
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* Standard Costing Introduction Cost figures‚ in general‚ can be divided into two broad categories. They are Historical Costs and Standard Costs. Historical costs are available‚ after they are incurred. Such cost figures may have some value‚ once they are analysed. By analysis‚ the inefficiencies and deficiencies in production may be detected. However‚ the damage would have occurred‚ by the time the analysis under Historical costs is made. Analysis can be done only after the completion of the
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Base and superstructure ’In the social production of their life‚ men enter into definite relations that are indispensable and independent of their will‚ relations of production which correspond to a definite stage of development of their material productive forces. The sum total of these relations of production constitutes the economic structure of society‚ the real basis‚ on which rises a legal and political superstructure‚ and to which correspond definite forms of social consciousness’ (1) The
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Experiment 4: ACIDS AND BASES: PH Measurements and Macroscale Titration CHM023L – A12 Group no. 6 Members: | Contributions: | | Conclusion | | Recommendation | | Tables and figures with analysis | | Principles‚ Equation | | Abstract‚ tables | Date Performed: February 28‚ 2012 - Tuesday Date Submitted: March 6‚ 2012 - Tuesday Submitted to: ------------------------------------------------- ABSTRACT: This experiment introduces us the pH measurement and application of macroscale titration
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Assigning Overhead Costs – Overhead costs are not directly related to production volume‚ and therefore cannot be traced to units of product in the same way as direct materials and direct labor. Consequently‚ we must assign overhead costs using an allocation system. There are three methods of overhead allocation 1. The single plant wide overhead rate method (as discussed in Chapter 2) Single overhead rate = Total budgeted overhead for the plant / Total budgeted base With base being direct
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marginal costing (Relevant to AAT Examination Paper 3: Management Accounting) Li Tak Ming‚ Andy Deputy Head‚ Department of Business Administration‚ Hong Kong Institute of Vocational Education (Kwai Chung) Introduction Absorption costing and marginal costing are alternative cost accumulation systems used to ascertain product or job costs for inventory valuation and cost of sales. Absorption costing Absorption costing includes both variable and fixed production costs in the cost units. Under
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LEGAL BASES OF PHILIPPINE EDUCATIONAL SYSTEM MAJOR LEGAL BASES The Philippine Constitutions 1. 1935 CONST. Article XIV Section 5 2. 1973 CONST. Article XV Section 8 (1-8) 3. 1987 CONST. Article XIV Sections 1-5(5) THE 1987 CONSTITUTIONS Article XIV Sections 1-5(5) Section 1. The state shall protect and promote the right of all the citizens to quality education at all levels and shall take appropriate steps to make such education accessible to all. Section 2. The state shall:
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Traditional and Nontraditional Cultures of India and the United StatesTraditional and nontraditional cultures incorporate different sets of beliefs‚ values and behaviors into the individuals involved within each culture. Traditional cultures are cultures that are based largely on beliefs‚ rules‚ symbols and principles established predominately in the past and confined to regional boundaries (Shiraev & Levy‚ 2007). Nontraditional cultures are cultures that are based largely on modern beliefs‚ rules
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Are you an Uber driver and have experienced one ride where the passenger was quite intoxicated that you have no idea how to manage it all? Lucky for you‚ there might be one trick that can help you ease the tension. Uber is fast becoming the ride-hailing technology right now‚ and it would not be strange for drivers to encounter a drunken scenario. There is a trick that can tame the drunks. In Charlotte‚ North Carolina‚ the service is providing drivers a "Bop It" toy to keep their drunken passengers
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