Street Journal. Cost Management and Strategy – refer to your assigned questions and problems Cost Drivers and Basic Cost Concepts -- What is a cost? Define cost pools. What is a cost object? cost assignment? Contrast a direct cost with an indirect cost. Define cost allocation. What is an allocation base? Contrast cost assignment with cost allocation. What is a direct material? Direct labor? Indirect material? Indirect labor? factory overhead? What are conversion costs? Prime costs? What are the
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If you are starting out in a new business‚ especially a service/manufacturing business‚ understanding the cost accounting system and which cost accounting system will work best for your company‚ is the first step to being successful. Once you find someone to help you navigate those waters‚ let them help you sail the rough seas of direct and indirect inventory‚ direct and indirect labor costs‚ and how to allocate factory overhead as well. While it all may sound confusing‚ having the right person
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under efficient operating conditions absorption costing all manufacturing costs are assigned to products: direct material‚ direct labour‚ variable and fixed manufacturing overhead acceptable quality level (AQL) the defect rate at which total quality costs are minimised account classification method (or account analysis) the process in which managers use their judgement to classify costs as fixed‚ variable or semivariable costs accounting rate of return (or simple rate of return‚ rate of return on assets
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Bridgespan Cost Analysis Toolkit Step 4: Allocate indirect costs Template: Identifying cost drivers Cost drivers are measurable factors that allow you to determine the relationship between the indirect cost and each program area. They are program-related units that cause an indirect cost to increase or decrease. Another way to think about it would be factors that can approximate the demand that each of your program places on the particular resource item. The appropriate driver may be different
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Bowling Ball Company (BBBC) uses a job-order costing system to accumulate manufacturing costs. The company’s work-in-process on December 31‚ 20x3‚ consisted of one job (no. 3088)‚ which was carried on the year-end balance sheet at $78‚400. There was no finished-goods inventory on this date. BBBC applies manufacturing overhead to production on the basis of direct-labor cost. Budgeted totals for 20x4 for direct labor and manufacturing overhead are $2‚100‚000 and $2‚730‚000‚ respectively. Actual results
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Pro: Child Labor The majority of people’s opinion on the idea of child labor is derived from the images in the media. They are only exposed to the horrible images of adolescents working very dangerous and degrading jobs and from this they are quick to side with the elimination of child labor. What many people are not aware of is the necessity for child labor in many developing countries. Our paper outlines the causes of child labor and the need for children to work in many countries‚ the unseen benefits
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1. | Question : | (TCO 2) Use the ____ data type for columns that contain letters and special characters and for columns containing numbers that will not be used in calculations. | | | Student Answer: | | CHAR | | | | VARCHAR | | | | Text | | | | String | | Instructor Explanation: | Week 2 Lecture | | | | Points Received: | 0 of 3 | | Comments: | | | | 2. | Question : | (TCO 2) In SQL which of the following parameters will allow you to add
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"Two men I honour"‚ said Carlyle‚ "and no third. First‚ the toil-worn Craftsman that with earth-made implements laboriously conquers the earth and makes it men. Venerable to me is the rugged face‚ all weather-tanned." When Carlyle said this‚ few people had any thought for the labourer or manual labour as particularly dignified. Well-to-do and educated people are so-called gentlemen‚ since they would avoid all contact with the toilers. To be able to get one’s work done by others was counted as the
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Labour relations Labour relations refers to the relations between employers and employees. They are affected by certain factors‚ including labour organizations‚ collective bargaining‚ labour market‚ government policy‚ the structure of the economy‚ labour law and technological change. Since industrial relations are regularly connected with unions‚ it is noteworthy that in Canada‚ until the 1970s‚ a greater part of unions and union members belonged to American-based craft and industrial unions. According
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The labor relations process includes managers and unions representing employees’ best interests. If employees are not represented by an union‚ the employer has the opportunity to individually bargain with the employee. The three basic assumptions underlying the labor relations process in the United States includes recognition of the legitimate rights and responsibilities of union and management representatives‚ negotiation of the labor agreement‚ including appropriate strategies‚ tactics‚ and impasse
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