...points) (a) Direct materials price and direct materials quantity variances. Direct materials price variance (13,750 × $2.10) – (13,750 × $2.00) = MPV $28,875 – $27,500 = $1,375 U Direct materials quantity variance (13,750 × $2.00) – (1.20 × 11,000 × $2.00) = MQV $27,500 – $26,400 = $1,100 U (b) Direct labor price and direct labor quantity variances. Direct labor price variance (Actual Hours × Actual Rate) – (Actual Hours × Standard Rate) = LPV (2,800 × $11.90) – (2,800 × $12.00) = MPV $33,320 – $33,600 = $280 F Direct labor quantity variance (Actual Hours × Standard Rate) – (Standard Hours × Standard Rate) = LQV (2,800 × $12.00) – (0.25 × 11,000 × $12.00) = MQV $33,600 – $33,000 = $600 U (c) Total overhead variance Actual overhead $35,740 Overhead applied (11,000 × $3.20)...
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...quality control inspectors. 6. Sales commissions paid to sell laptop computers. 7. Electrical components used in assembling computers. 8. Wages of workers assembling laptop computers. 9. Soldering materials used on factory assembly lines. 10. Salaries for the night security guards for the factory building. The company intends to classify these costs and expenses into the following categories: (a) Direct materials, (b) Direct labor, (c) Manufacturing overhead, (d) Period costs. List the items (1) through (10). For each item, indicate the cost category to which it belongs. E1-9 E1-9 An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Hobbit Company. E1-10 E1-10 Manufacturing cost data for Copa Company arc presented below. Case A Case B Case C Direct materials used $ (a) $68,400 $130,000 Direct labor 57,000 86,000 (g) Manufacturing overhead 46,500 81,600 102,000 Total manufacturing costs 195,650 (d) 253,700 Work in process 1/1/17 (b) 16,500 (h) Total cost of work in proems 221,500 (c) 337,000 Work in process 12/31/17 (c)...
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... | |099 |Shaharin sultana | |006 |Zarin Tasnim | |102 |Humaira Sadia | |008 |Sajia Akter Moury | [pic] To Mrs Hasina Sheykh Associate Professor Dept. of Banking University of Dhaka Sub: Submission of Term Paper Dear Sir, It is our pleasure to submit term paper on Assessing financial health of banks in Bangladesh: A case of “Dutch Bangla Bank Limited” as a part of our B.B.A. Program. We tried our best to gather relevant information for preparing a complete report by following our honorable course instructors’ instruction. Without your sincere co-operation and proper guideline, it would not possible for us to prepare the report. For this act of kindness, we are grateful to you. This report is not free from mistake due to some limitations. We hope you accept it with gracious consideration. Sincerely...
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...Lee Department of Computer Science and Engineering The Pennsylvania State University University Park, PA 16802, USA {mxy177,pzy102,wlee}@cse.psu.edu ABSTRACT In this paper, we study the research issues in realizing location recommendation services for large-scale location-based social networks, by exploiting the social and geographical characteristics of users and locations/places. Through our analysis on a dataset collected from Foursquare, a popular location-based social networking system, we observe that there exists strong social and geospatial ties among users and their favorite locations/places in the system. Accordingly, we develop a friend-based collaborative filtering (FCF) approach for location recommendation based on collaborative ratings of places made by social friends. Moreover, we propose a variant of FCF technique, namely Geo-Measured FCF (GM-FCF), based on heuristics derived from observed geospatial characteristics in the Foursquare dataset. Finally, the evaluation results show that the proposed family of FCF techniques holds comparable recommendation effectiveness against the state-of-the-art recommendation algorithms, while incurring significantly lower computational overhead. Meanwhile, the GM-FCF provides additional flexibility in tradeoff between recommendation effectiveness and computational overhead. networking services allow users to connect with friends, explore places (e.g., restaurants, stores, cinema theaters, etc), share their locations, and upload photos...
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...PRINCIPLES OF ACCOUNTING Higher 2 (2016) (Syllabus 9755) CONTENTS Page INTRODUCTION 2 AIMS 2 ASSESSMENT OBJECTIVES 2 SPECIFICATION GRID 2 SCHEME OF ASSESSMENT 3 SYLLABUS OUTLINE 3 SYLLABUS CONTENT 5 SUMMARY OF COMMONLY USED RATIOS 15 RESOURCES 16 Singapore Examinations and Assessment Board MOE & UCLES 2014 1 9755 H2 PRINCIPLES OF ACCOUNTING (2016) INTRODUCTION Principles of Accounting aims to provide candidates with a foundation course in accounting at a breadth and depth appropriate to the A Level. It is designed to provide candidates with a sound understanding of financial and managerial accounting procedures and an appreciation of its role in society. The teaching approach emphasises the broad educational aspects of the subject rather than one which is vocational or professional in nature. There is no requirement to learn the published accounting standards. Prior knowledge is not necessary for students offering this syllabus. It is not the intent of this syllabus to be a pre-requisite for any business-related courses. AIMS 1. Develop an understanding of the concepts, principles and practices of accounting and the ability to apply them in a variety of business and personal situations; 2. Develop an understanding of the role of accounting as an information system for monitoring, problemsolving and decision-making in changing economic, social and technological environments; 3. Develop a critical approach to analysing and evaluating accounting policies...
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...reports for external U.S.ers at end of each accounting period. However, there are no similar statutory requirements for corporate accountants to provide managers of their companies with the management accounting information necessary for decision making in their bU.S.iness operations. Cost accounting is an important integral part of management accounting. Product costing has always been a much debated issue in management accounting. The area that has generated a host of conflicting views is the allocation of overhead costs to products. Traditional absorption costing is claimed to be resulting in an unfair allocation of overhead costs to products. New approaches such as the Activity Based Costing (ABC) did not receive widespread adoption. It is being realized in management accounting field that an emerging costing method known as Resource Consumption Accounting (RCA) is a better method for product costing. It is a method adopted by the German manufacturing companies. This paper describes the German cost accounting method and also compares the German cost accounting with the cost accounting in the United States, specifically in the automobile manufacturing indU.S.try. Keywords: Cost Accounting in auto manufacturing companies in Germany and The United States, Cost Accounting, Activity-Based Costing, Resource Consumption Costing, Grezplankostenrechnung (GPK) INTRODUCTION t is widely realized that there is a frU.S.tration prevailing among senior management in the United States at the...
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...Managing Accounting Name: Institutional Affiliation: Date of Submission: Table of Contents Introduction 3 Task 1 3 Assessment criteria 1.1 3 Assessment criteria 1.2 4 Assessment criteria 1.3 4 Assessment criteria 1.4 6 Assessment criteria 1.4 7 Section 2 8 Assessment criteria 2.1 8 Assessment criteria 2.2 8 Assessment criteria 2.3 10 Section 3 11 Assessment criteria 3.1 11 Assessment criteria 3.2 13 Assessment criteria 3.4 15 Zero-based budgeting 16 Top-down budgeting 16 Bottom-up budgeting 16 Activity-Based Budgeting 16 Section 4 18 Assessment criteria 4.1 18 Assessment criteria 4.2 21 Conclusion 22 Bibliography 23 Introduction Financial management is the efficient as well as effective management of the funds in a motive of accomplishing the goals and the objectives an organization. It comprises of how to rise capital and how to allocate for instance through budgeting. This does not only cater for the long term budget but also the allocation of funds in the short term. In our discussion we are going to focus on various issues such the various methods used in costing, the budgeting formation and formation process, and the different types of budgeting. The attainment of coordination will also be factored since it is key to the success of a business. Task 1 Assessment criteria 1.1 a. Identify and explain the various ways by which cost can be classified discussion the value of costs classification including any weaknesses in your argument...
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...plan or standard; at the end of the period it serves as a control device to help management measure its performance against the plan so that the future performance may be improved. International Paper, a large forest-products company, uses key budgets, including sales and expense projections, as the starting point for the developing business strategies. Prior to development of the budget, certain questions must be asked and certain assumptions must be made. What will be the inflation rate be? Where is the competition headed? Will suppliers increase prices? Will costumer tastes change? You also must explore the financial alternatives available for you. For instance, what will occur if you raise your selling price? What will be the effect if one variable (e.g., advertising) is changed? It is important to realize that with the aid of computer technology, budgeting can be used as an effective device for evaluation of “what-if” scenarios. Through the use of simulations you should be able to move toward finding the best course of action among various alternatives. If you do not like what you see on the budgeted financial statements with respect to various financial ratios such as liquidity, activity (turnover), leverage, profit margin, and market value ratios, you can always alter your decision and planning...
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...Name _______ _________ (Please include your name in the file.) I. Classifications (30 points total) Part A: Classifications (2 points each – 22 points total) Determine the classification for each cost item based on 2 different schemes. First, determine cost behavior: whether the cost is variable or fixed (relative to the number of units produced); check the appropriate space. Then, determine whether the cost is a product or a period cost; check the appropriate space. Be sure your final answers are lined up under the right column before submitting your quiz. Behavior Functional Area Cost Item Variable Fixed Product Period Paper towels used in the office building restrooms _____ _ √ _ _____ _ √ _ Cost of natural gas to run the manufacturing equipment _ √ _ _____ _ √ _ _____ Salaries of the sales managers _____ _ √ _ _____ _ √ _ Insurance paid on the headquarters building _____ _ √ _ _____ _ √ _ Hourly wages of the assembly workers _ √ _ _____ _ √ _ _____ Cost of fabric to make polo shirts _ √ _ _____ _ √ _ _____ Commissions paid to salespeople at $4 per unit _ √ _ _____ _____ _ √ _ Production supervisors’ salaries _____ _ √ _ _ √ _ _____ Cost of newspaper advertising _____ _ √ _ ...
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...accept-or-reject special order decisions. represent a significant proportion of total overhead costs. 8. Low-volume products may consume nonunit-level overhead activities in much greater proportions than indicated by a unit-level cost driver and vice versa for high-volume products. If so, then the low-volume products will receive too little overhead and the high-volume products too much. 2. Cost measurement is determining the dollar amounts associated with resources used in production. Cost assignment is associating the dollar amounts, once measured, with units produced. 9. If some products are undercosted and others are overcosted, a firm can make a number of competitively bad decisions. For example, the firm might select the wrong product mix or submit distorted bids. 3. An actual overhead rate is rarely used because of problems with accuracy and timeliness. Waiting until the end of the year to ensure accuracy is rejected because of the need to have timely information. Timeliness of information based on actual overhead costs runs into difficulty (accuracy problems) because overhead is incurred nonuniformly and because production also may be nonuniform. 10. 11. An overhead consumption ratio measures the proportion of an overhead activity consumed by a product. 13. Departmental rates typically use unit-level cost drivers. If products consume nonunitlevel overhead activities in different proportions than those of unit-level measures, then it...
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...Literature Abstract Traditional cost accounting holds the assumption that cost changes proportionately with activity. Anderson et al. (2003) show that cost increases more when activity rises than decreases less when activity falls by an equivalent amount, a behavior that they refer to as “cost stickiness”. By following Anderson et al. (2003) researchers investigate the determinants, consequences and different aspects of cost stickiness. However, some studies raise questions about the validity of the inference made by Anderson et al. (2003). Over the last few years many authors highlight some new aspects such as earnings forecasts error, agency problem and earnings management that relate to cost stickiness. The objective of this paper is to review and synthesize the growing body of research on cost stickiness. Lack of theoretical support, merely insights provided by the literature and some inconclusive findings suggest that there are ample research opportunities to improve the understanding in this area. Keywords: Cost stickiness; Asymmetric cost behavior 2 1.0 Introduction The significant role of cost accounting is to analyze the cost of inputs and the value of outputs provided by those inputs. Cost accounting system helps managers to make better decision that leads to cost efficiency and improved profitability. Conventional model of cost accounting assumes that costs are proportional to the cost drivers. Activity based costing posit a simple linear relationship...
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...Introduction: Term paper is a system by which we can familiarize ourselves with the practical situation. Moreover, we can bridge up the gap of the theoretical knowledge and practical situation. As an indispensable part of BBA program, I was placed in M.M. ISPAHANI Ltd. for completing my term paper. I was rotated in almost every desk of the organization and all over the factory. Statement of the Problem: The efficient management of working capital is very vital for a business survival. This is premised on the fact having too much working capital signifies inefficiency, whereas too little cash at hand signifies that the survival of business is shaky. Here I focus on working capital management practices in M. M. ISPAHANI Ltd. to evaluate the real condition that are existing. Objectives of the study: The main objective of the study is to gather practical knowledge about working capital management of M.M. ISPAHANI Ltd. My study covers the following areas: * To Study the working capital policies of the sample company. * To study the structure of working capital. * To measure the utilization of working capital of the sample company. * To examine the impact of working capital on profitability. * To identity the problems facing the sample company. * To suggest the recommendation of measuring working capital Management efficiency. Scope of the Study: In my term paper the sample size was one and M.M. ISPAHANI Ltd. was selected as a sample and my topic was...
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...Administration Paper Code: Paper Title: BBA – 201 Cost and Management Accounting Max. Marks: 15 Last date of submission: Note : Question No. 1 is of short answer type and is compulsory for all the students. It carries 5 Marks. (Word limits 50-100) Q. 1. Answer all the questions: 1. 2. 3. 4. 5. What do u understand by Economic order quantity (EOQ)? What do u mean by variance analysis? Give four differences between management accounting and financial accounting. What is trend percentage? How cash flow statement is different from Fund flow statement. NOTE: Answer any two questions. Each question carry 5 marks (word limit 500): Q. 2. What is the meaning of Cost Accounting? Explain the difference between cost accounting and financial accounting. Q. 3. Write short note on (any two): a) Comparative Balance sheet statement. b) Ratio analysis. c) Fund flow statement. Q4. Prepare a cost sheet from the following particulars: PARTICULARS Stock of finished goods 1.1.2009 Stock of raw material on 1.1.2009 Purchase of raw material Productive wages Sale of finished goods Stock of finished goods on 31.12.2009 Stock of raw material on 31.12.2009 Factory overheads Office and administrative overheads Selling overheads 72,800 33,280 7,59,200 5,16,880 15,39,200 78,000 35,360 1,29,220 70,161 20,000 RUPEES JAIPUR NATIONAL UNIVERSITY, JAIPUR School of Distance Education & Learning Internal Assignment No. 2 Bachelor of Business Administration Paper Code: Paper Title: BBA –...
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...Administration Paper Code: Paper Title: BBA – 201 Cost and Management Accounting Max. Marks: 15 Last date of submission: Note : Question No. 1 is of short answer type and is compulsory for all the students. It carries 5 Marks. (Word limits 50-100) Q. 1. Answer all the questions: 1. 2. 3. 4. 5. What do u understand by Economic order quantity (EOQ)? What do u mean by variance analysis? Give four differences between management accounting and financial accounting. What is trend percentage? How cash flow statement is different from Fund flow statement. NOTE: Answer any two questions. Each question carry 5 marks (word limit 500): Q. 2. What is the meaning of Cost Accounting? Explain the difference between cost accounting and financial accounting. Q. 3. Write short note on (any two): a) Comparative Balance sheet statement. b) Ratio analysis. c) Fund flow statement. Q4. Prepare a cost sheet from the following particulars: PARTICULARS Stock of finished goods 1.1.2009 Stock of raw material on 1.1.2009 Purchase of raw material Productive wages Sale of finished goods Stock of finished goods on 31.12.2009 Stock of raw material on 31.12.2009 Factory overheads Office and administrative overheads Selling overheads 72,800 33,280 7,59,200 5,16,880 15,39,200 78,000 35,360 1,29,220 70,161 20,000 RUPEES JAIPUR NATIONAL UNIVERSITY, JAIPUR School of Distance Education & Learning Internal Assignment No. 2 Bachelor of Business Administration Paper Code: Paper Title: BBA –...
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...2015 From: Danilo; Gustavo Bueno; Jacob Broberger; Joep Laureijs; José Adriano Machado Subject: Group 2’s analysis of Managing Earnings by Manipulating Inventory: The Effects of Cost Structure and Valuation Method Introduction In this memo, we intend to analyze and breakdown Managing Earnings by Manipulating Inventory: The Effects of Cost Structure and Valuation Method by Kirsten A. Cook, Ryan Houston & Michael R. Kinney’s major faults and weak-points. The article examines how production cost structure and inventory valuation affect a company’s earning management through inventory manipulation. Its two main findings are the following: i. Firms with high fixed-cost ratios are more likely to manipulate production but make smaller abnormal inventory changes than companies with low fixed-costs ratios; ii. LIFO firms are less likely than other companies to manage earnings by using the production lever (i.e. shifting fixed costs between COGS and inventory) because they may also manage earnings by liquidating LIFO layers and releasing the LIFO reserve. Before we begin our analysis, we put together a brief rundown of the essential concepts the article’s authors go through to form their conclusions. Cost Structure Cost structure refers to the types and relative proportions of fixed and variable costs that a business incurs. Valuation methods A company can value its inventory using several methods. The two most important methods are LIFO (“last in first out”) and FIFO...
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