1. Conversion cost is the sum of direct labor cost and direct materials cost. F 2. Depreciation on office equipment would be included in product costs. F 3. When the predetermined overhead rate is based on direct labor-hours‚ the amount of overhead applied to a job is proportional to the estimated amount of direct labor-hours for the job. F 4. Indirect materials are charged to specific jobs. F 5. When a job is completed‚ the goods are transferred from the production department to the finished goods
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Accounting Fraud at WorldCom Vanessa Gail Woods Strayer University Connor-Green/ACC 576 March 21‚ 2010 Accounting Fraud at WorldCom The break up of AT&T opened the long distance service market to small companies during the mid- to late-1980s and 1990s. Long Distance Discount Service (LDDS) opened in 1983 with moderate growth until its stock went public in 1989. CEO Bernie Ebbers decided to grow the organization through acquisitions (70 companies over the course of its lifetime)
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FIN 502 – Personal Financial Planning Chapter 1 – Module 2 Time value of money * How to compare monetary amounts you pay or receive at different times * The arithmetic with which we convert money between periods‚ or calculate what rate of return is implied by a given set of cash flows Single Period – Rate of Return * N = amount of years * I% = x (what we’re trying to find) * PV = How much it’s worth today * FV = How much it’s worth at maturity date
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CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Brief Exercises A Problems B Problems 5‚ 6‚ 7‚ 11 1A‚ 2A‚ 4A 1B‚ 2B‚ 4B 3 6‚ 7‚ 8‚ 10‚ 11 1A‚ 2A‚ 4A‚ 5A 1B‚ 2B‚ 4B‚ 5B 4 8‚ 9‚ 12‚ 13‚ 2A‚ 3A‚ 14‚ 15‚ 16‚ 17 4A‚ 5A 2B‚ 3B‚ 4B‚ 5B Learning Objectives Questions Do It! Exercises 1. Explain what accounting is. 1‚ 2‚ 5 1 1 2. Identify the users and uses of accounting. 3‚ 4 1 2 3. Understand why ethics is a fundamental business concept. 4. Explain accounting
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r1- )2*P1+( r2- )2*P2+( r3- )2*P3+ etc then square rooted (-50% - 11.40%)2(0.1) + (-5% - 11.40%)2(0.2) + (16% - 11.40%)2(0.4) + (25% - 11.40%)2(0.2) + (60% - 11.40%)2(0.1) = 712.44 standard deviation = square root of 712.44 = 26.69% coefficient of variation= CV= σ/ = 26.69%/11.40% = 2.34 expected return = = P1r1+P2r2+P3r3 expected return market= .3*15%+.4*9%+.3*18%= 13.5% expected return stock j= .3*20%+.4*5%+.3*12%=11.6% standard deviation =( r1- )2*P1+( r2- )2*P2+( r3- )2*P3 then
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Exercise 2-1 (10 minutes) 1. The wages of employees who build the sailboats: direct labor cost. 2. The cost of advertising in the local newspapers: marketing and selling cost. 3. The cost of an aluminum mast installed in a sailboat: direct materials cost. 4. The wages of the assembly shop’s supervisor: manufacturing overhead cost. 5. Rent on the boathouse: a combination of manufacturing overhead‚ administrative‚ and marketing and selling cost. The rent would most likely be prorated
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Living in the Environment : Concepts‚ Connections and Solutions Miller and Spoolman 16th Edition Practice Questions: Chapters 1-25 2009 - 2010 Practice Questions – Chapter 1 Environmental Problems‚ Their Causes‚ and Sustainability 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Describe what is meant by the phrase “an environmentally sustainable society” as related to the human population. Distinguish between (a) natural capital (b) natural resources (c) natural services (d) solar capital
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In 1868‚ the 14th Amendment was ratified into the Constitution‚ and has since become a key component in the construction of democracy in the United States. The amendment is broken down into five independent sections of impartial notions that forbids states from rejecting the civil rights and liberties‚ and to accord fair chance of life‚ property‚ and due process regardless of race. The 14th Amendment outlined civil liberties and rights while limiting state’s intervention‚ therefore making it an
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Chapter II Review of Related Literature and Studies Review of Related Literature Parents Portal The Parents Portal gives the parent an opportunity to view their student’s schedules‚ performance‚ and statement of accounts. Parents also have access to review current contact information‚ which may be used to help the school maintain accurate contact data. Online Reporting is the innovative use of media and communication technologies such as emails‚ blogs‚ websites and text alerts in
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Chapter 2 ECONOMIC OPTIMIZATION QUESTIONS & ANSWERS Q2.1 In 2004‚ the second-largest U.S. long-distance telephone company eliminated about 2‚000 jobs at four call centers in Colorado‚ Iowa‚ Kansas‚ and South Carolina. "MCI must continue to revamp its cost structure to better position the company for future success‚" a company spokesperson said. Does this decision reflect an application of the global or partial optimization concept? Explain. ANSWER MCI=s decision to scale back employment at four
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