Cost-Volume-Profit Analysis Objective 1 • Identify how changes in volume affect costs. Types of Costs Variable Fixed Mixed Total Variable Cost Total variable costs change when activity changes. Total Long Distance Telephone Bill Your total long distance telephone bill is based on how many minutes you talk. Minutes Talked Variable Cost Per Unit Variable costs per unit do not change as activity increases. Per Minute Telephone Charge Minutes Talked The cost per long
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Assignment 1-3: Week One Practice Problems Exercise 1-9 Transaction (a) would be described as an investment by owner. In this transaction Zen personally invests $40,000 cash in a new consulting firm. The cash (an asset) and the stockholders’ equity each equal $40,000. Assets = $40,000 Equity = $40,000 Transaction (b) involes the purchase of supplies for cash and credit. Zen purchases $3,000 of supplies with cash and then purchases another $1,000 of supplies with credit. Zen office supplies
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CHAPTER 4 JOB COSTING 4-1 Cost pool––a grouping of individual cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to a cost object. 4-2 In a job-costing system, costs are assigned to a distinct unit, batch, or lot of a product or service. In a process-costing system, the cost of a product
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BUS 3061 Fundamentals of Accounting The Accounting Environment http://homeworkfy.com/downloads/bus-3061-fundamentals-of-accounting-the-accounting-environment/ To Get this Tutorial Copy & Paste above URL Into Your Browser Hit Us Email for Any Inquiry at: Homeworkfy@gmail.com Visit our Site for More Tutorials: (http://homeworkfy.com/ ) BUS3061- Fundamentals of AccountingThe Accounting EnvironmentResources • The Accounting Environment Scoring Guide. • APA Style and Formatting. • Writing
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Problem 6-3A Cost of goods available for sale = 2970+9680+6325+9240+3080 = $31295 Total Units = 165+440+275+385+110 = 1375 units Average cost per unit = 31295/1375 = $22.76 Ending Inventory = 1375 – 1100 = 275 units FIFO
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Brief Exercise 8-3 December 31 inventory per physical count | | $298,500 | Goods-in-transit purchased FOB shipping point | | 25,910 | Goods-in-transit sold FOB destination | | 22,710 | December 31 inventory | | $347,120 | ------------------------------------------------- Brief Exercise 8-6 April 23 | = | 312 x $20 | = | $6,240 | April 15 | = | 39 x $19 | = | 741 | Ending inventory | | | | $6,981 | | | | | | Cost of goods available for sale | | |
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Kudler Fine Foods: Accounting Systems Chris Kozyra BSA/310 June 30, 2014 Professor Paula Billups Kudler Fine Foods Accounting Systems According to Raiborn (2010), “An accounting system provides a systematic approach to collecting, processing, and communicating financial information to decision makers in an effective and efficient manner”(Ch. 2, An introduction to the Accounting System, para 1). Kudler Fine Foods hired a consulting firm, Smith
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Name of Student: Name of Instructor: Course: Date: Accounting Standards Codification The FASB Accounting Standard Codification is the source of authoritative Generally Accepted Accounting Principles (GAAP) documented by the FASB to be applied to nongovernmental entities. The Codification is the result of a major five-year project involving more than two hundred people from multiple entities. The Codification is effective for provisional and annual periods ending after September
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Paper #2: Rules-based vs. Principles-based Accounting Standards Convergence efforts in international accounting and the prevalence of globalization in the world markets has continued to indicate that worldwide financial statement comparability will continue to become more necessary. In light of this, it’s important to determine whether a principles-based or rules-based system would be more appropriate for harmonization. Although most current accounting systems can be primarily defined as rules-based
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______________________________ James Nutter, D.A. Honors Director ______________________________ Date OFF-BALANCE SHEET FINANCING Abstract In today’s world, leases appear far and wide; they are commonplace throughout the business and accounting frontiers. Accounting for leases, however, is not so clear cut. Since there are various ways to account for leases, many companies pick and choose which they feel best suits their situation, even when this sweeps dirt under the rug along 3 the way. The
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