costs Labor costs of assembly-line workers $110‚000 – Direct labor Sales commissions $35‚000 – Period costs Factory supplies used $13‚000 – Direct materials Salaries paid to sales clerks $50‚000 – Period costs (b) Explain the basic difference in accounting for product costs and period costs. Product costs are manufacturing costs‚ direct components‚ direct labor and manufacturing overhead‚ do not become expenditures until the company sells inventory. Period costs are non-manufacturing costs‚ including
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Article Analysis From Enron to Tyco‚ accounting scandals have always been a worrisome issue in accounting. Regardless of how many internal controls there are‚ there will always be a chance for unethical practices in accounting. Where and when do these problems arise? This paper will analyze an article listing situations that lead to those unethical practices and behavior that lawmakers try to prevent. In his article “What Are the Causes of Ethical Lapses in Accounting‚” Jagg Xaxx writes that business
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HISTORY OF ACCOUNTING LEARNING OUTCOMES Understand the history of accounting dating from prehistoric times to written record keeping. Identify the seven preconditions for the emergence of systematic book keeping. Know Luca Pacioll contributions in introducing double entry book keeping. Accounting is a tool‚ invented by humankind‚ to fulfill needs of society. Unlike the explorers of the past who discovered new lands‚ accounting cannot in any true sense be said to have been discovered
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7 Habits of an Effective People By Stephen R. Covey Independence or Self-Mastery Habit 1: Be Proactive Take initiative in life by realizing that your decisions (and how they align with life’s principles) are the primary determining factor for effectiveness in your life. Take responsibility for your choices and the consequences that follow. Habit 2: Begin with the End in Mind Self-discover and clarify your deeply important character values and life goals. Envision the ideal characteristics
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COMP122 Week 1 Homework Part 1: Complete the following problems. 1. A) Write a function in C++ to the following specifications: Function name: even Return type: bool Parameter list: int n Statements in the body: if (n % 1 == 0) return (true); else return (false); B) What do you think the purpose of function? Write appropriate comments into the function to reflect this purpose. C) Draw a corresponding flow chart that reflects the
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Organising to achieve objectives Organisational Structure Tesco was established in East London‚ originally it was a little stall in a local market. The company gradually became popular as it opened stores throughout the country‚ this is when the owners realised that they needed to be more organised and they need structure in their company to be successful. Initially‚ they decided to organise themselves geographically and based upon their customer needs. This was a good starting point because
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Opportunity to pool customer experiences This is where customers are able to write about their experience that they have recently had. This is usually either when they have stayed at a hotel or visited an attraction‚ or a restaurant. Customers are able to rate their experience and leave information on what they enjoyed and what they didn’t enjoy online. An example of this is Trip Advisor where customers can rate their experiences about different hotels all across the world. This benefits potential
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Beginning completed- Television: Out of all promotional media‚ Tv advertising is considered to have the most impact on viewers but the internet is fast approaching. The main reason advertising is so effective is because of the size of the audience that it reaches. Nearly every household in the UK has a television. TV has become part of our everyday lifestyle. Everyone in the UK watches at least two hours of television per day‚ due to all this television watching commercials are
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CMIS102 Homework Assignment 1 (Worth 13% of your grade) Student Name: Heather Elliott Class/Section: 1202CMIS1026391 Professor Name: Nicolae Tapus Assignment due date: 1/29/12 Problem definition: Calculate the usable area in square feet of house. Assume that the house has a maximum of four rooms‚ and that each room is rectangular. A. Problem Analysis – Following the directions in the assignment‚ clearly write up your problem analysis in this section
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Chapter 2 Q5: Explain the term satisfice as it relates to the operations of large corporation. The argument is that today’s large corporations do not aim to maximize profits but instead‚ their aim is to satisfice. The two parts of this idea that we must consider are the following: The position and power of stockholders in today’s corporation as opposed to the position and power of professional management in today’s corporation. Large corporations today are not managed by the owners or the shareholders
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