Introduction Management Accounting aids organization in the achievement of its purpose by providing accounting information on whether the actual financial achievements have met its expectations. The reason of the existence of management accounting is to help an organization achieve its goal; it is a service for meeting the “needs” of management. These “needs” must be determined first before the management accounting can be put to use. Cost Accounting is a type of accounting process that capture the
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1. Activity costing would be appropriate 1. An activity-based costing system may be appropriate for Wall Décor, when overhead allocation based job-order costing provides product cost distortion. As seen on previous case, this distortion happens when one product is manufacturing in high volume and the others are manufacturing in complexity as well as in low volume. In this situation Wall Décor should change its costing system for selling its high volume produced products whereas low-volume produced
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Unit three Written Assignment Carrie Flood MT435 Operations Management Kaplan University October 6, 2012 Introduction Question One Based on the information presented in the scenario/case study discuss Albatross Anchor’s competitiveness in relation to (please address all items in the below list and provide support for your conclusions): 1. Cost a) Cost of Production: Albatross charges about the same price as the competitors do. However the inefficiency of their operations
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Related Controls Although not isolated to your payroll cycle, your employee’s time data is collected only at the departmental level. By collecting employee time data for individual production centers, production runs, or specific activities, your accounting department will be better able to track your labor expenses to products. Labor is a significant expense for your company. By directing a greater amount of your hourly payroll into your more profitable lines and away from those that are less profitable
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Question1 Monthly production costs in Pesavento Company for two levels of production are as follows. | |Cost |3,000 units |6,000 units | | |Indirect labor |$10,000 | |$20,000 | | | |Supervisory salaries |5,000 | |5,000 | | | |Maintenance |4,000 | |7,000 | |
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Why do we have fluctuating gross margins? Anagene Inc. established itself in an emerging market that features fluctuating sales. The fast growth in the genetics market and the emergence of new customers makes it difficult for our analysts to project future sales. In the past, Anagene sold workstations with four cartridges; however, our current marketing strategy focuses on selling more expensive individual cartridges. Another reason for fluctuating sales margins is customers reusing cartridges
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Mary Wang International Financial Reporting Inventory Case Study In the US GAAP, the broad principle given for inventory cost is “the sum of the applicable expenditures and charges directly or indirectly incurred bringing an article to its existing condition and location.” The paragraphs which we looked at included different principles to follow when trying to pin down inventory costs such as guidelines to determine variable overhead costs, fixed overhead costs and normal production capacity as
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A)Probability distribution of material cost per unit |Material cost |Probability |Cumulative Probability | |33 |0.18 |0.18 | |35 |0.23 |0.41 | |38 |0.32 |0.73 | |39 |0.27 |1.00 | |Total |1.00 | |
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L-3 Communications is a prime contractor in Command, Control, Communications, Intelligence, Surveillance and Reconnaissance (i.e. which we will call C3ISR) systems, aircraft modernization and maintenance, and government services. L-3 is also a leading provider of a broad range of electronic systems used on military and commercial platforms (L-3 communications; 2011). The company provides services to the U.S. Department of Defense and its prime contractors, U.S. Government intelligence agencies, the
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1.0 ABSTRACT Managerial Accounting is tools for business decision making. The use of management accounting information is a key for organizational success. This essay will explain on the importance of managerial accounting process in organization to successfully carrying out the day to day as well as long term activities and goals. First, it describes how the evolution and change in managerial accounting. Second, the essay looks at the role of managerial accountants. Third, it explains several
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