STEPS IN OPENING MS POWER POINT PRESENTATOIN Step 1 Open Microsoft PowerPoint by going to the "Start" menu and choosing the "Microsoft Office" option. Choose "Microsoft Office PowerPoint" from the drop-down box. This will open the program and a new presentation will automatically be populated. There are a few different ways of opening a presentation. If the presentation is saved on your computer‚ it can be opened from this screen. Step 2 Open the presentation by clicking "File" on the top toolbar
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rates: Job 450 Machining Department: Departmental allocation rate × Machine hours used by Job Overhead allocation × $60/ MH 3 MH $180 Job 455 × $60/ MH 6 MH $360 1 Finishing Department: Departmental allocation rate × DL hours used by Job Overhead allocation Total overhead allocation (from both departments $25/ DL hr 4 DL hrs $100 $25/ DL hr × 3 DL hrs $75 $ 280 × $ 435 Req. 5 The single plantwide rate undercosts Job 450 and undercosts Job
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Absorption costing: * It is costing system which treats all manufacturing costs including both the fixed and variable costs as product costs * In absorption costing‚ all costs are absorbed into production and thus operating statements do not distinguish between fixed and variable costs. * Absorption costing is a process of tracing the variable costs of production and the fixed costs of production to the product. Absorption costing is used to cost products and to report financial
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JOB COSTING JOB COSTING Cost object is a unit or multiple units of a distinct product or service called a job. Product or service is A single unit such as: 1.Specialised machine done at Hitachi. 2.A construction project managed by L & T. 3.Advertising campaign produced by Saatchi and Saatchi. Multiple identical unit such as: 1.Agni missile for Ministry of Defense manufactured by HAL. JOB COSTING SERVICE SECTOR JOB COSTING MERCHANDISING SECTOR - Audit engagements done - Special promotion of
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Normal costing is used to value manufactured products with the actual materials costs‚ the actual direct labor costs‚ and manufacturing overhead based on a predetermined manufacturing overhead rate. These three costs are referred to as product costs and are used for the cost of goods sold and for inventory valuation. Standard costing values its manufactured products with a predetermined materials cost‚ a predetermined direct labor cost‚ and a predetermined manufacturing overhead cost. These standard
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Absorption Costing vs. Variable (Direct) Costing Absorption cost systems are widely used to prepare financial accounts. These systems are designed to absorb all production costs (variable or fixed) into costs of units produced. Absorption costs techniques allow manufacturing costs to be traced and allocated into product costs. There are different types of absorption costing systems: job order costing‚ process costing‚ and ABC costing. In job order costing‚ costs are assigned to products in batches
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TEXT CITATION What to cite? * facts‚ findings‚ theories‚ ideas taken from a source published or unpublished * direct quotations (e.g. key words‚ phrases‚ passages‚ quoted verbatim (word-for-word) * paraphrases and summaries * conclusions present using own word * articles and studies used in the text * some factual information Why cite? to give credit where credit is due because presenting the work of someone else as your own is plagiarism
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Phase 2 Assignment Brief Individual Task - Costing Assignment - Fairview Manor An activity on apportionment of costs and breakeven analysis. Learning Objectives At the end of this activity you should be able to:- Apportion fixed costs to several products Use breakeven analysis to help to determine the effects of different prices Outline For this activity you will be working in your groups during the Pod session in week 3. There is an individual task which
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MARGINAL COSTING Introduction Even a school-going student knows that profit is a balancing figure of sales over costs‚ i.e. Sales - Cost = Profit. This knowledge is not sufficient for management for discharging the functions of planning and control‚ etc. The cost is further divided according to its behavior‚ i.e.‚ fixed cost and variable cost. The age-old equation can be written as: Sales - Cost = Profit or Sales - (Fixed cost + Variable Cost) = Profit. The relevance of segregating costs
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is shown in Figure 2.23 a. Shade the feasible region for this problem. b. Determine the coordinates of each extreme point and the corresponding profit. Which extreme point generates the highest profit? c. Draw the profit line corresponding to a profit of $4000. Move the profit line as far from the origin as you can in order to determine which extreme point will provide the optimal solution. Compare your answer with the approach you used in part (b). d. Which constraints are
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