process. 1) Analysis of physical flow of units. 2) Calculation of equivalent units. 3) Computation of unit costs. 4) Analysis of total costs. 5) Build a Spreadsheet: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how the solution will change if the following data change: the April 1 work in process costs were $27‚000 for direct material and $5‚000 for conversion. 1. | | Physical Units | | Work in process‚ April
Premium Costs Units of measurement Microsoft Excel
CASH FLOW DIRECT/INDIRECT 1. Given the following information and using the indirect method prepare the Cash Flows from Operating Activities section of the statement of cash flows. End of Year Beginning of Year Change Cash 23‚500 37‚400 (13‚900) Accounts receivable (net)
Premium Variable cost Contribution margin Costs
Average Variable Cost : 2002 $1‚011‚008** **$417‚004+$124‚101.20+$117‚903+$351‚000 2003 1‚142‚681.00** ** $520‚069+$171‚622.70+$79‚888+$371‚101 2004 1‚798.131.00 ** ** $915‚787.50+$320‚525.52 +$115‚999+$445‚819 Total $3‚951‚820.00 No.of Years 3 Average VC $1‚317‚273.00 Average Customers 8‚202.00 Average VC per unit $161.00 Fixed Cost $174
Premium Costs Customer
CONTROLLING LABOR COST The timekeeping and payroll departments have the responsibility of maintaining labor records. The timekeeping and payroll functions may be established as separate departments or organized as subdivisions of a single department. Increasingly‚ automated timekeeping technology has replaced ‘‘timekeeping’’ as a separate department. For example‚ many companies issue magnetic cards to direct laborers who use them to ‘‘log on’’ and ‘‘log off’’ to specific job assignments. They
Premium Employment Wage Income
Variable costing vs Absorption costing Variable and Absorption costing are two different methods and ways that many organizations use to determine and calculate product cost. The income statements formats of both methods include period and product costs. However‚ each one has a different cost classification definition. Both have the same direct material and direct labor allocation‚ the differences is how they report the income‚ product‚ and pricing One of the main differences between
Premium Price Income statement Inventory
activity. True False 2. In a performance report‚ actual costs should be compared to budgeted costs at the original budgeted activity level. True False 3. The overhead spending variance and the overhead efficiency variance are useful only if variable overhead really should be proportional to the activity measure that is being used in the flexible budget. True False 4. The variable overhead efficiency variance reflects how efficiently variable overhead resources were used. True False 5. A reason
Premium Variable cost Cost accounting Cost
strategic responses are potentially available to a firm facing competition from manufacturers enjoying a substantial labor cost advantage? Changing a new cost system‚ focusing on customer needs. What issues are relevant in considering moving a manufacturing plant to a low wage location? Direct labor is an important factor‚ which is more relevant on manufacture of a product.
Premium Manufacturing Wage Average
Ethical Issues in OB Kris Jones Organizational Behavior Prof. Thomas Stone June‚ 11‚ 2012 Ethical issues have become a significant concern in organizations‚ especially in recent years. Ethics involves the study of moral issues and choices; concerned with what is right and wrong‚ bad and good and define what people should do (Kinicki & Kreitner‚ 2011). One of the problems regarding ethics is organizations and their people don’t always share the same idea about right and wrong and are
Premium Ethics Morality Business ethics
Agri-environment contract adoption under fixed and variable compliance costs. This report looks at the agri-environment contract adpted by farmers’ to be able to contribute and partake in the enrivonmental schemes through pressure groups and government. It provides disctinct description to the differences in fixed and variable costs. The purpose of explaining the differences were to illustrate how farmers partaking to the project would be different than how much land will be needed to chip in the
Premium Cost Costs Variable cost
to all these considerations are measurement issues. Financial measures‚ in particular‚ cost measures‚ are needed to evaluate alternate strategies on whether to introduce a new product or service line‚ to determine the appropriate sale price and the consequent market position for the firm’s product. Question 1) “Contribution” represents the portion of sales revenue that is not consumed by variable costs and so contributes to the coverage of fixed costs. To compute profit contribution that can be
Premium Variable cost Costs Contribution margin