Chapter 2 Cost Terms‚ Concepts‚ and Classifications Exercise 2-2 (15 minutes) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10 . 11 . 12 . 13 . 14 . 15 . Depreciation on salespersons’ cars ................ Rent on equipment used in the factory .......... Lubricants used for machine maintenance ..... Salaries of personnel who work in the finished goods warehouse.............................. Soap and paper towels used by factory workers at the end of a shift ...................... Factory supervisors’ salaries
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Content 1 Introduction 1 1.Task one 2 The models and concepts affecting the pricing decisions taken by organisations‚ critically reflecting upon their usefulness 2 2‚ Task two 6 The role of standard costing and variance analysis in management accounting and a critically discussion of the value and limitations of variance analysis as a means of identifying key areas which have contributed to the overall profit figure. 6 3‚ The advantages and disadvantages of introducing an Activity Based Costing
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$500‚000 and is known by both Brickhouse and Boudreau to be a fairly "soft" amount. Identify possible causes of action. -Brickhouse is acting unethically. His action serves only his self-interest‚ self review and has no clear basis in proper accounting procedures‚ so ignoring the familiarity with brickhouse ‚the controller‚ Louise Boudreau‚ should not manipulate net income in view of any compensation plan the company may have.He must comply with relevant laws and regulations and not assist others
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with a competitive advantage; Product strategy is 1 of 10 decisions of OM and focuses on developing a competitive advantage thru differentiation‚ low cost‚ rapid response‚ or combination of these. PRODUCT STRATEGY OPTIONS: Product Selection- the choosing of good or service to provide customers or clients; Differentiation- by offering a distinctly unique and high quality product; Taco Bell- has developed a low cost and high value product line; Toyota- a rapid response to changing customer demand;
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Accounting Homework Individual Chapter 7 Question 1&2 1. (a) What are generally accepted accounting principles (GAAP)? In the U.S.‚ generally accepted accounting principles‚ commonly abbreviated as US GAAP or simply GAAP‚ are accounting rules used to prepare‚ present‚ and report financial statements for a wide variety of entities‚ including publicly-traded and privately-held companies‚ non-profit organizations. (b)What bodies provide authoritative support for GAAP
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Choosing a career is easy‚ but sticking with that choice is one of life’s greatest challenges. I was never able to choose a career‚ because poverty and abuse tricked me into believing that I wouldn’t have a future anywhere. Once I sought shelter at a local non-profit organization in my free time‚ my volunteer work made it all change‚ and led to my decision for a career in human services. My first discovery of the human services field came when I volunteered at a community center for teenagers. These
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Capstone Capstone Checkpoint Capstone Checkpoint I would tell the members of the Senate that mental health is just as important as physical health. Health professionals say that there is a solid link between the mental health and physical health. The health and illnesses are not just related to biological issues‚ but is a combination of biological issues‚ social conditions‚ and behavioral factors. If we want our society to deal with all of the health issues that they may face‚ we need to
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Objective 1. Determine the total considerations transferred. 2. The land and buildings should be recorded on the premise of “in-use” or “in-exchange”. 3. Determine the fair value recorded for the intangible assets. Applicable accounting pronouncement ASC 805-20-25 Business Combinations-Identifiable assets and liabilities and any non controlling interest-Recognition Recognition Conditions 25-2 To qualify for recognition as part of applying the acquisition method‚ the
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correct picture on the firm’s financial performance and financial position. We have to recognize all transaction occurring in that accounting period‚ irrespective of whether cash has been received or paid. The ultimate objective of adjusting entries is to ensure that the revenues (income) earned in the accounting period are matched by all costs incurred for that same accounting period (Monash College‚ 2011). Prepayment There are two types of adjusting entries‚ prepayments and accruals. Prepayment is
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CJS/200 Checkpoint #6 November 4‚ 2012 According to the textbook the courtroom work group is the professional courtroom actors‚ including judges‚ prosecuting attorneys‚ defense attorney‚ public defenders and others who earn a living serving the court. The jobs of the courtroom work group vary from person to person. The courtroom work group interacts in many ways on a daily basis. All of the different professionals have their specific jobs to do. First I will start off with the one
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