and cost of goods sold. One approach is called absorption costing. Absorption costing is generally used for external financial reports. The other approach called variable costing is preferred by some companies for internal decision making and must be used when an income statement is prepared in the contribution format. Ordinarily absorption costing and variable costing produce different figures for net income and the difference can be quite large. Under variable costing‚ only those costs of production
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AGW 610/3 Finance and Accounting for Management Graduate School of Business Universiti Sains Malaysia COURSE GUIDE Lecturer: Semester: Associate Prof. Dr. Sofri Yahya; Dr Fathyah Hashim Semester 1‚ Academic Session 2012/2013 The information in this document is important and should be noted by all students undertaking the Master of Business Administration Degree Reviewed by: ………………………………………….. Date: 1 Approved by: ………………………………….. Date: AGW 610/3 Finance and Accounting for Management
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UNIVERSITI UTARA MALAYSIA UUM COLLEGEOF BUSINESS SCHOOL OF ACCOUNTANCY COURSE CODE : BKAL1013 COURSE : BUSINESS ACCOUNTING PRE-REQUISITE : NONE 1.0 COURSE SYNOPSIS This course is designed specifically for students from non-accounting disciplines. It is divided into two sections‚ i.e. financial accounting and management accounting. Students will be exposed to accounting concepts‚ principles and assumptions. They would be able to assess
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that the price elasticity of demand for domestic students is -1.2 and for foreign students is -1.6. He is particularly worried about the effect of the fee increase. Mr. Chatterjee is also considering a change in promotional expenditure. This currently amounts to 2% of total revenues and it is estimated that the promotional elasticity of demand is 0.1. It is also estimated that variable costs per student are Rs.60‚000. Questions 1. Why might Mr. Chatterjee’s estimates of the relevant price elasticity
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areas….have fun! * Relevant range * Break-even point * Contribution margin * Process costing * Job costing * Calculate equivalent units * ABC systems * Direct‚ indirect‚ variable‚ fixed‚ prime‚ and conversion costs * CVP analysis Good luck! This is the REAL exam‚ so choose your time to enter carefully. The Midterm counts towards 19% of your grade. The questions are listed on multiple pages‚ so remember to click to the second page. Your time limit is 3.5 hours
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Name: University: Course: Tutor: Date: Are the company’s prices and costs competitive? The pricing system as well as cost deployed by an organization contributes to a large part in its competitive edge. Notably‚ in the current competitive world meticulous consideration is crucial in both pricing and costing on either products or services. Considering pricing as well as costs in Xerox‚ an organization dealing in consumer printer‚ aggressive approach is noticeable in the techniques utilized to
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Isabel and Joe were in the restaurant since Isabel wept on that afternoon because Joe desired her but they were poor and could not marry. The reason was that they both had miserable jobs‚ the futile night studies and Joe’s sick parents. Joe worked as a clerk in publishing house and received meager salary‚ which he spent to his sick parents while Isabel was as assistant librarian to Mrs. Suntay‚ in a small children library. They first met when theirs a show in the library where Joe appeared selling
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Annotated Bibliography Article Miller‚ P & O’Leary‚ T 1997‚ ‘Accounting and the Construction of the Governable Person’‚ Accounting‚ Organizations and Society‚ vol.12‚ n.03‚ pp235-265. Main Argument In this article‚ Miller et al. concern about the understanding of the historical foundation of accounting practice by investigating how theories of costing and budgeting were constructed in the first thirty years of the 20th century. In addition‚ the
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Activities/Products Impero Escana Driftwood Set up costs: 12‚200 Cost driver: number of set ups. Total number of set ups: 5 (12‚200/5) x 2 = 4‚880 (12‚200/5) x 2 = 4‚880 (12‚200/5) x 1 = 2‚440 Purchasing and checking wood edging costs: 8‚000 Cost driver: wood edging per cabinet Total number of meter per wood edging: 8 meters (8‚000/8) x 4 = 4‚000 (8‚000/8) x 4 = 4‚000 (8‚000/8) x 0 = 0 Purchase of wood costs: 5‚100 Cost driver: wood (meters) per cabinet Total
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Walmart‚ a super retail store that offers a product for almost all needs at a low price‚ is guilty of closing many local mom and pop shops. The documentary film “Walmart the High Cost of Low Price” illustrates the effects felt by the local small business owners when a new Walmart opens in the area. Usually when there is a grand opening of a new business in an area there is a decrease in sales. When someone as large as Walmart moves into the area it is almost impossible to keep a local shop open for
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