Differential Costing Introduction Costs are an important feature of many business decisions. In making decisions‚ it is essential to have a firm grasp of the concepts differential cost. Decisions involve choosing between alternatives. In business decisions‚ each alternative will have costs and benefits that must be compared to the costs and benefits of the other available alternatives. A difference in costs between any two alternatives is known as a differential cost. A difference in revenues
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Be Well Prepared For Your Future Life Thinking makes human beings different than others in our planet. Humans need to do thousands of decisions in their normal life‚ and of course some of these are right and some of these are wrong. People may think carefully before doing something to avoid some mistakes‚ or reflect after an action to make progresses next time. However‚ when is the best time for thinking‚ before or after? How should we be prepared for our unknown future life? In the article On Thinking
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50‚000 Total Noncurrent Assets ……………………………………………………………………………… $1‚307‚100 Total Assets $2‚080‚554 Liabilities and Stockholder’s Equity Liabilities Current Liabilities Accounts Payable $197‚532 Income Taxes Payable 62‚520 Salaries Payable 52‚000 Notes Payable to Banks 50‚000 Mortgage Payable-current portion 18‚000 Accrued Liabilities 9‚500 Accrued Interest on Notes payable 500
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recommendation. Marginal Costing Profit Statement of the draft budget £(000) £ (000) Sales 1000 Less Cost of sales: Direct Materials 320 Direct wages 200 Variable factory overheads 100 (620) Contribution 380 Less Fixed Costs: Fixed factory overheads 100 Selling and distribution overheads 120 Administration overheads 180 (400) Loss (20) Unit selling price = 1‚000‚000/50‚000 = £20 Unit variable cost = 620‚000/50
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EXERCISE 3–1: Process Costing and Job-Order Costing [LO1] Which method of determining product costs‚ job-order costing or process costing‚ would be more appropriate in each of the following situations? * a. An Elmer’s glue factory. * b. A textbook publisher such as McGraw-Hill. * c. An Exxon oil refinery. * d. A facility that makes Minute Maid frozen orange juice. * e. A Scott paper mill. * f. A custom home builder. * g. A shop that customizes vans. * h. A
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additional funds is best described as: A) a publicity problem. B) an agency problem. C) an adverse selection problem. D) a moral hazard. Section: 1.2 Ownership Versus Control of Corporations 4) What is the role of an auditor in financial statement analysis? Section: 2.1 The Disclosure of Financial Information 5) An agency problem can be alleviated by: A) requiring all firms to be sole proprietorships. B) compensating managers in such a way that acting in the best interest of shareholders
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MARGINAL COSTING [pic] SUBMITTED TO: SUBMITTED BY: Dr. Shashi Srivastav ABHISHEK KUMAR RAI
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SITE 2X350 MW THAMMINAPATNAP (A.P) METHOD STATEMENT FOR UNLOADING THE BOILER DRUM FROM TRAILER BY CRAWLER CRANES Data Protection Statement The information and data provided herein shall not be duplicated‚ disclosed or disseminated by the recipient in whole or in part for any purpose whatsoever without the prior written permission from CETHAR LIMITED. Staff Information Sheet The following method statement has been developed to provide a safe system of
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THE PREPARED ENVIRONMENT Montessori classrooms provide a prepared environment where children are free to respond to their natural tendency to work. In a Montessori Infant/Toddler room‚ the prepared environment is very important. It is designed to meet these goals: * Be attractive‚ welcoming‚ and conducive to learning * Have a space large enough to accommodate all the children‚ providing them with free and comfortable movement * Provide areas for all the activities each day *
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job costing Definition (according to business dictionary) An order-specific costing technique‚ used in situations where each job is different and is performed to the customer’s specifications. Job costing involves keeping an account of direct and indirect costs. Since both types of costs are usually closely related (a job requiring high input of labor and material is likely to consume more power‚ machine time‚ supervision time‚ inspection time‚ etc.) indirect costs may be applied as an estimated
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