| B | Direct labor. | C | Variable overhead. | D | Variable overhead. | 3. | On the Schedule of Cost of Goods Manufactured, the final Cost of Goods Manufactured figure represents: | A | the amount of cost charged to Work in Process during the period.
3) The point at which costs are totaled. A job order cost system totals costs when the job is completed. A process cost system totals costs at the end of a period of time. 4) Unit cost computations. In a job order cost system, the unit cost is the total cost per job divided by the units produced.
(2-4 sentences. 1.0 points) Describe two of your long-term financial goals, and explain why these goals are important to you. List at least three steps that might help you accomplish this goal. (4-6 sentences. 2.0 points) Describe an example of a common financial resource, an expense, and a debt.
The second stage of ABC is identifying cost drivers to each activity cost pool (Hilton 2008, p. 173). Each activity cost pool consist of own pool rate which is defined as cost per unit of the cost driver. As for ABM, the purpose is to support organizational strategy, improve operations and manage costs by using provided information. The ABC analysis helps to revise the product pricing to reflect the product cost more precisely (Hilton 2008, p. 186). After initially adopting ABC, a company would have already identified the current activity cost driver rates, estimates of process, product and customer costs.
What type of pension plan is it? What are key assumptions? What are the main unique challenges that OTPPB face? Pension plans are usually classified as belonging to one of two groups: defined contribution or defined benefit plans. The basic distinction between these two groups rested in the way that benefits were calculated.
Quality control costs may be a direct cost of the Manufacturing Department, but an indirect cost of an individual job. Answer: True Difficulty: 2 Objective: 1 Terms to Learn: job 3. Cost objects may be jobs, products, or customers. Answer: True Difficulty: 1 Objective: 1 Terms to Learn: job 4. The cost driver of an indirect cost is often used as the cost-allocation base.
The two are used in a way that balances these costs and revenues. To obtain the contribution margin, L.L. Bean computes: item retail price if demanded – item cost To obtain the
It is difficult for a proprietorship to obtain large sums of capital; 2. The proprietor has unlimited personal liability for the business’s debts 3. The life of a business organized as a proprietorship is limited to the life of the individual who created it. 2- Partnerships with the advantage of its low cost and ease of formation The disadvantages are: 1. Unlimited liability; 2.
According to Gerri Knilans, President of Thousand Oaks, “the primary reason many mergers and acquisitions do not deliver longer-term value is because they lack a strong cultural-integration plan.’ Business Process Integration Conjecture Corporation (2012) believes: “The concept of business process integration can aid in making sure that customer’s orders are processed, executed, and billed with relative ease, simply by establishing connections between all relevant systems. By effectively using business process integration to establish connections between internal systems, businesses can often manage tasks with a greater degree of speed as well as accuracy (http://www.wisegeek.com/what-is-business-process-integration.htm). CEMEX prides itself on having a “vertically integrated portfolio of cement, aggregates, and ready-mix concrete”
It also requires a large number of buyers and sellers, identical goods, and perfect information is possessed by both parties about the selling and buying opportunities available. Imperfect competition on the other hand, is an industry where single firms have some control over price and competition. Allocation of resources under the imperfection competition is inefficient.