He peruses the want ads almost every day and conducts informal surveys among his friends in the local chapter of the Laundry and Cleaning Trade association. While Jack has taken a “seat – of – the pants” approach to paying employees‚ his salary schedule has been guided by several basic pay policies. While many of his colleagues adhere to a policy of paying absolutely minimum rates‚ Jack has always followed a policy of paying his employees about 10% above what he feels are the prevailing rates‚ a
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quilts and sells them at craft shows and at her home studio. Below is a market supply schedule she constructed. Answer the questions that appear below it. Price per quilt Quantity Supplied Per Month $300.00 1 $400.00 2 $500.00 3 $600.00 4 $700.00 5 1. How many quilts will Sally supply at $500.00 per quilt? 3 2. Are any other factors besides price taken into account with the market supply schedule she has constructed? Supply 3. Several situations are listed below that Sally has encountered
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Manufactured Landscapes The Manufactured Landscapes film had talked about the factories in China. There is huge factory with thousands of workers. All of Chinese workers are very quiet and focused to work on their own jobs. They required to do really fast worker and process to get everything in made on time. Most of them are wearing a yellow uniforms with yoke (green) and (ivory); a different groups in a different department. Ladies are wearing the blue bananas to protect their hair into their
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Strategic Cost Management ACCT90009 Seminar 1 Seminar 1 Subject Administration Introduction to SCM oduc o o SC Administration • Subject Coordinator Dr. David Huelsbeck Email: david.huelsbeck@unimelb.edu.au Room: 08.028‚ The Spot Phone: +61 3 9035 6256 Consultation Hours: Monday 4:15pm – 6:15pm • Seminars: Tuesday: 2.15 pm – 5.15 pm‚ FBE ‐ Theatre 211 (Theatre 2) Thursday: 6.15 pm – 9.15 pm‚ Alan Gilbert ‐ Theatre 2 Teaching Format and Resources • Seminar Format 3 hour seminar
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characteristics of process costing‚ including cost flows‚ journal entries‚ and the cost of production report. 2. Describe process costing for settings without work-in-process inventories. 3. Define equivalent units‚ and explain their role in process costing. 4. Prepare a departmental production report using the FIFO method. 5. Prepare a departmental production report using the weighted average method. 6. Prepare a departmental production report with transferred-in goods and changes in output measures. 7
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Chapter 10 Standard Costs and the Balanced Scorecard Solutions to Questions 10-1 A quantity standard indicates how much of an input should be used to make a unit of output. A price standard indicates how much the input should cost. 10-2 Ideal standards assume perfection and do not allow for any inefficiency. Thus‚ ideal standards are rarely‚ if ever‚ attained. Practical standards can be attained by employees working at a reasonable‚ though efficient pace and allow for normal breaks
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the two products as indicated in the reports submitted by the accounting department for the drums and mountain bike frames should not be used in the decision of which product to make. This is due to the following reasons: a. The product margins are lower than they should be‚ simply due to the fact of the presence of allocated common fixed costs that happen to be irrelevant in making this decision. b. Moreover‚ when the fixed costs are taken out of the equation‚ the profitability of the two products
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pow(1 + 0.0194‚5) + (1.25 * 2 * (20 * 30% - $0.74 - 5)) / pow(1 + 0.0194‚6)) / 50 = $6.59 [+/- $0.20] Use the same CLV formula to calculate‚ but multiply the number of customers in the forward periods by 1.25 and subtract an additional $5 for the cost of the toy for all periods. QUESTION 5: What is the maximum amount that company should spend to acquire a new customer? 0.00 is INCORRECT. Time: 0 min‚ 6 sec THE ANSWER AND EXPLANATION $16.30 = $16.30 [+/- $0.49] Same as CLV of an
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Meaning of cost ‘COST’ represents a sacrifice of values‚ a foregoing or a release of something of value. It is the price of economic resources used as a result of producing or doing the thing costed. It is the amount of expenditure incurred on a given thing. Cost has been defined as the amount measured in money or cash expended or other property transferred‚ capital stock issued‚ services performed or a liability incurred in consideration of goods or services received or to be received. CLASSIFICATION
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Ch8 Pricing Goods for External Sales Pricing Objectives: gain market rate of return Environment: Political reaction to prices patent or copyright protection Demand: Price sensitivity demographics Cost Considerations: Fixed and variable costs short-run or long-run In the long run‚ a company must price its product to cover its costs and earn a reasonable profit Most case: Company does not set the prices‚ competitive market does Price takers: the companies cannot set the price of gasoline by
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