A and B. Costs associated with the alternatives are listed below: Alternative A Alternative B Materials costs $40‚000 $56‚000 Processing costs $37‚000 $37‚000 Equipment rental $13‚000 $13‚000 Occupancy costs $15‚000 $22‚000 71. Are the materials costs and processing costs relevant in the choice between alternatives A and B? (Ignore the equipment rental and occupancy costs in this question.) A) Both materials costs and processing costs are relevant B) Neither materials costs nor processing
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Analyzing Financial Statements for Planning and Cost ACCT614-1304A-03 Phase 2 Individual Project Task 2 Professor Monica Hubler 10/28/2013 EEC has recently introduced a new memory chip‚ which is 1.5 gigabytes of computer memory. Based on my findings‚ and Eddison’s Electronic Company Journal Entry from 2005‚ I have determined if we should utilize a job order costing system‚ which is a costing system where costs are collected and assigned to units of production
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Specifically‚ from the four qualitative characteristics‚ Relevance and Reliability are critically examined to see what role they take in the conceptual framework. Accounting information that is to be placed under Relevance‚ are data that are relevant to the subject currently being discussed and its inclusion the accounting process will likely to affect the decision that is to be made. On the other hand‚ information that is to be placed under Reliability‚ are data that can be acknowledged from
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Is Shakespeare Relevant or not Relevant that is the Question? The works of William Shakespeare are world renowned and thought to high school students around the globe. William Shakespeare was a 16 century poet and play write; because of this many people argue that his works are not relevant in today’s modern society. Elements such as‚ young loves at the ages of 13 are used in his plays. These themes were realistic in the context of the time but are much unknown in today’s society. I believe that
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A TERM PAPER ON THE RECOGNITION OF OPPORTUNITY COST AND RELEVANT COST: A TOOL FOR EFFECTIVE BUSINESS DECISION MAKING BY IWUCHUKWU UCHENNA IWUAKU O9AA08549 ACCOUNTING 300L LECTURER: MRS OBIGBEMI INTRODUCTION The role of opportunity cost and relevant cost cannot be overemphasized in the making effective decision making. They work hand in hand in making sure that the company makes the best economic decision‚ they are both used in making managerial decisions at every level of planning and
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Staying Relevant The role of Information Technology in Creating Economic Sustainability Kip Garland‚ founder - innovationSEED Sustaining an organization‚ be it a business‚ a government‚ or other groupings of people‚ requires the ability to create new growth. When organizations stop growing - they lose their relevancy. Economic studies show that sustaining growth in productive sectors is increasingly difficult. From 1950 to 2005 the average time that top company could sustain its relevancy
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RELEVANT AND IRRELEVANT INFORMATION 1. It is easy to understand why Mrs. Smith is always so busy between 5:45 and 7:45 in the evening. At about 5:45 she has to start cooking because Mr. Smith gets home from work at 6:30 and wants his dinner soon after he arrives. At the same time she has to keep an eye on her two sons to see that they do their homework. At 6:15 it is time for the baby to be fed‚ bathed‚ and then put to bed. The two boys have to be ready for bed at about 7:15‚ and if Mrs. Smith does
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not all cost and revenue data is relevant. The cost data relevant for decision-making is referred to as relevant costs and that which is not useful for decision-making is non-relevant costs. On the revenue side‚ the only relevant revenue is the incremental & differential revenue. Relevant and Non-Relevant Costs: 1. Future Costs and Sunk Costs (IR): A future cost is that cost yet to be incurred and since the decision is in the future‚ future costs are relevant. A sunk cost is a historical
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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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consequences that follow. Habit 2: Begin with the End in Mind Self-discover and clarify your deeply important character values and life goals. Envision the ideal characteristics for each of your various roles and relationships in life. Create a mission statement. Habit 3: Put First Things First Prioritize‚ plan‚ and execute your week’s tasks based on importance rather than urgency. Evaluate whether your efforts exemplify your desired character values‚ propel you toward goals‚ and enrich the roles and relationships
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