order costing i. A manufacturer of fine custom jewelry- job order costing j. A made to order garment factory – job order costing k. A factory making one personal computer model – process costing l. A fertilizer factory – process costing 2) 2.1. a. |General Journal | |Accounts |Debit |Credit
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Not everything that can be counted counts‚ and not everything that counts can be counted. Albert Einstein LG Electronics‚ Inc established in 1958 and has its headquarter in Seoul‚ South Korea is one of the leading companies in the world which produces electronic and communication devices‚ IT productions. LG which stands for “Life’s Good” determines what the company is striving for. One of the main aim of LG Electronics is ensuring to make the dgigtal life better for its customers. Eco- Friendly
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Contents 1-Introduction 2 2-1 Cost Behavior‚ benefits and difficulties ahead 3 2-2 Using CVP as a mean for Prediction 4 3- Conclusion 6 4- Reference 6 1-Introduction A good understanding of the relationship between cost and activities in a company is necessary for managers in every type of organization and this clothing manufacturing company is concerned because they do not have this understanding and what benefits it has for guiding managers to understand the changes
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ACC201 Principles of Managerial Accounting Assignment Type: Individual or Group Words: 1500 words for individual or 2800 or 4200 words for a group of two or three members‚ respectively. Presentation: Both hardcopy and softcopy should be presented on the due date. The hardcopy should handle to me and the softcopy to the Turnitin (as software to check out the plagiarism)by the due date. The instruction for how to submit to the Turnitin will be provided you later through my web space.
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Chapter 1 Managerial Accounting‚ the Business Organization‚ and Professional Ethics Management accounting produces information for managers within an organization. Financial accounting produces information for external parties‚ such as stockholders‚ suppliers‚ banks‚ and government regulatory agencies. What kind of accounting information do managers need to achieve their goals and objectives? Good accounting information helps answer three types of questions: 1. Scorecard questions 2. Attention-directing
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overhead? Direct labor is a valid basis for allocating overhead when: (a) direct labor constitutes a significant part of total product cost‚ and (b) there is a high correlation between direct labor and changes in the amount of overhead costs. 2. What has happened in recent industrial history to reduce the usefulness of direct labor as the library basis for allocating overhead to products? Recently in the industries‚ the amount of direct labor in many sectors has been affected and greatly
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Problem 19-2: Vt. Sugar Enterprises Given: Syrup Sugar Total Units produced 20‚000 1‚000 21‚000 Unit selling price $15.00 $2.00 Total process costs: After split-off $12‚000 $280 $12‚280 Joint costs $100‚000 a. Calculate the cost of the syrup if the sugar is considered a by-product and the gross margin from its sale is considered to be a reduction of syrup costs. Products Sales Value Costs beyond split-off Difference Joint costs allocation Syrup $300‚000 12‚000 288‚000
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Chapter 1—Introduction to Managerial Accounting TRUE/FALSE 1. Management accounting information is only used by manufacturing organizations. ANS: F PTS: 1 DIF: Difficulty: Easy OBJ: LO: 1-1 NAT: BUSPROG: Analytic STA: AICPA: BB-Industry | IMA: Business Applications | ACBSP: APC-25-Managerial Characteristics/Terminology KEY: Bloom’s: Knowledge NOT: 1 min. 2. The managerial activity of monitoring a plan’s implementation and taking corrective action as needed is referred to as decision making
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Managerial and Financial Accounting Report FIN540 Accounting for Managerial Decision Making Abstract Financial accounting develops account information that is used by external parties such as stockholders‚ suppliers‚ banks‚ and government regulatory agencies in their decision-making. Management accounting develops confidential accounting information that is used by managers within an organization. Management accounting is a complex process of identifying‚ accumulating and analyzing information
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Chapter 1 Review Questions 1. A project is defined‚ according to the Project Management Insitute‚ as a temporary endeavor undertaken to create a unique product‚ service‚ or result. Five characteristics that help differentiate projects from other functions carried out in the daily operations of the organization are as follows: 1. An established objective. 2. A defined life span with a beginning and an end. 3. Usually‚ the involvement of serveral departments and professionals. 4. Typically
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