11 Allocation of Joint Costs and Accounting for By-Product/Scrap Objectives After completing this chapter‚ you should be able to answer the following questions: LO.1 LO.2 LO.3 LO.4 LO.5 How are the outputs of a joint process classified? What management decisions must be made before beginning a joint process? How is the joint cost of production allocated to joint products? How are by-product and scrap accounted for? How should not-for-profit organizations account for the cost of a joint activity?
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ASSIGNMENT ON COST CONTROL AND COST FREDUCTION SUBMITTED BY‚ MOHAMMED NAFAISE E.K ROLL NO: 1600 COST CONTROLL & COST REDUCTION COST CONTROL The practice of managing and/or reducing business expenses. Cost controls starts by the businesses identifying what their costs are and evaluate whether those costs are reasonable and affordable .Then if necessary
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Cell phones has affected the way we socialize these days; if you notice people are starting to text their friends and family instead if actually speaking verbally. You go out to dinner and look around and see people out with family but there is no conversations going on at the table mostly just huh… yeah… mmhm..‚ because they are busy texting someone not there on their phones. I feel human communicant is slowly disappearing among friends and family. You even see parent’s texting their kids when in
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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Anthony Gemmellaro Cover Illustration/Photo: © Image Source/Corbis Composition/Full-Service Project Management: S4Carlisle Publishing Services/Lynn Steines Printer/Binder: Edwards Brothers Cover printer: Lehigh-Phoenix Color/Hagerstown Typeface: 10/12 Palatino Credits and acknowledgments borrowed from other sources and reproduced‚ with permission‚ in this textbook appear on appropriate page within text. Copyright © 2012‚ 2007‚ 2004‚ 2001‚ 1997 by Pearson Education‚ Inc.‚ Upper Saddle River
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Generally‚ the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship‚ land‚ capital etc.‚ which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production‚ allowance should be made for such expenses. It is therefore essential
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SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000 per year for quality inspection
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English 8 April 2011 Cell Phones: How They Have Changed Us Socially Cell phones have changed the way people socially interact with each other. Nowadays‚ anyone anywhere can just pick up their cell phone and call each other at any time of the day or night. (Stewart 1). In the past when there were just house phones around‚ people could use the excuse “Sorry I wasn’t home to answer your call” but now‚ with the emerging of cell phones‚ people will get a hold of you somehow. Cell phones are considered to
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Negative Effects of Cell Phones on Society’s Social Lives | Negative Effects of Cell Phones on Society 3rd February 2013 Negative Effects of Cell Phones on Society’s Social Lives Bailey von Roden January 30‚ 2013 Argumentative Essay Cell Phones Effect Society’s Social Lives Cell phones have become a very crowd-pleasing technological device through the years. Nowadays it is uncommon for an individual not to own one. However‚ the fact that the use of cell phones damaging the social
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