1. Estimated cost of a Geoffrey Doll, the specialty-branded doll #106, and a cradle Based on the internal cost study, the costs of Geoffrey Doll and the specialty branded doll #106 changed drastically. There was no change in the costs of the cradle as the Springfield plant is very labor intensive. Below are the calculations for the total cost of each type of doll & the cradle: Cost Breakdown (in $) Geoffrey Doll Specialty Branded Doll #106 Cradles Direct Labor Cost 3.00 3.75 7.50 Direct
Words: 1071 - Pages: 5
Standard * Actual- Job order and process costing assign cost based on actual cost; actual DM, DL, and OH * Normal – Job order costing assign cost based on actual DM, DL, and OH is applied using predetermined rate at completion. Process Costing assign cost based on actual DM, DL, and OH is applied using predetermine rate using either FIFO or WA * Standard – Job order costing assigns cost based on the standard cost for DM,DL, and OH is applied using predetermined rate when goods
Words: 484 - Pages: 2
CHAPTER 17 (FIN MAN); CHAPTER 2 (MAN) JOB ORDER COSTING EYE OPENERS 1. Product cost information is used by managers to (1) establish product prices, (2) control operations, and (3) develop financial statements. 2. a. Job order cost system and process cost system. b. The job order cost system provides a separate record of each quantity of product that passes through the factory. c. Process cost systems accumulate costs for each department or process within a factory. 3. Job order costing is used by
Words: 7365 - Pages: 30
| Management Accounting | Case Submission : Eastside Medical Testing | | | 2/3/2015 | | BySection B | | Surjit S K | 1401111 | Vimal Kumar R | 1401113 | Vinoth Kumar R | 1401114 | Vivek Agarwal | 1401115 | Viswanathan E | 1401116 | Saikat Roy | 1401117 | Question 1 Based on Emmet’s assumptions - Cost and Profit per unit | T1 | T2 | T3 | T4 | T5 | Total | Number of tests per year | 3,500 | 52,000 | 72,000 | 80,000 | 92,000 | 299,500 | Number of runs
Words: 599 - Pages: 3
Project Management Tutorial 4 – Project budget and cashflow planning Project budget 1.1 Give one (1) example of a project and perform the following: (a) Choose two (2) activities of that project and (b) Set up direct costs, indirect costs and contingency for the 2 chosen activities Project cashflow 2.1 Discuss the various “Cash-inflow” and “Cash-outflow” sources for the following stakeholders of a condominium development project: (a) Sub-contractor (b) Main-contractor (c) Developer 2
Words: 324 - Pages: 2
Constraint Management at UniCo: Analyzing “The Goal” as Fictional Case Study Abstract As a fictional case study, Eliyahu Goldratt’s novel about manufacturing, “The Goal: A Process of Ongoing Improvement,” presents a constraint-focused approach to production management. As a novel, the book does not emphasize the quantitative details of the plant improvements. However, a great amount of information about the plant is spread throughout the book. By collecting and analyzing this data, a concrete
Words: 11282 - Pages: 46
Management Audit Status of Cost and Management Audit in Bangladesh It is obviously understood that considering the aforesaid multifarious and multidimensional benefits of cost accounting and management auditing the Government of Bangladesh has made keeping cost books and cost accounts compulsory in the Companies Act, 1994 through section 181. The relevant part may be seen from clause (d) of subsection (1) of section 181. Section 220: Audit of certain matters by Cost and Management Accountants:
Words: 338 - Pages: 2
industry is intensive, it it is necessary for Colorscope to provide high quality products and service to their client. In that way, it can build a long-term customer relationship and attractive other customer’s to invest their products. 2. Two stage cost system In activity based costing, the two stage
Words: 3044 - Pages: 13
representatives) Dave Marley, Cost Accounting Manager (supervises cost accountants) Kevin Carson, Production Supervisor (supervises all manufacturing employees) Sally Renner, Engineer (supervises all new-product design teams) REQUIRED a) What are the primary information needed by each manager? Give examples. (5 Marks) b) Which, if any, financial accounting report(s) is likely to be used by each manager? Explain. (3 Marks) c) Name one special purpose management accounting report that could be designed
Words: 1803 - Pages: 8
analysed the information of exhibit 1, 2, 3 and 4. Alternatives * Reduce the manufacturing costs * Produce the Romaine Doll * ABC-method for the Geoffrey Doll * Do nothing Criteria * Costs * Profit * Implementation time Asses the alternatives Alternatives | Decision Criteria | | | | | | Qualitative | | Quantitative | | | | Implementation time | | Costs | Margin | | 1. | | | | | | 2. | | | | | | 3. | | | | | | Select the best
Words: 760 - Pages: 4
