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;
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Chapter 4 Cost-Volume-Profit Analysis QUESTIONS 1. Variable costs are costs that change in response to changes in activity (e.g., production or sales activity). Fixed costs are costs that do not change in response to changes in activity. 2. A mixed cost is a cost that has a fixed cost component and a variable cost component. For example, the amount paid for telecommunication services would be a mixed cost if there was a fixed monthly fee plus a charge for use. 3. Discretionary
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Destin Brass Products Company Activity Based Costing Prepared by: Heidi Meilinger Standard System Step 4: Indirect Cost Pool Step 3: Cost Allocation Base Step 5: 439% of direct run labor cost Step 1: Cost objects: Valves, pumps, And flow controllers Step 2: Direct Costs Revised System Step 4: Indirect Cost Pool Step
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Introduction of the article From 2013, the global coal price has decreased significantly caused by the declining coal consumption and many researches indicate that the sharp decline in coal price is structural rather than cyclical which means, unlike what the government and the coal fraternity said, demand may not rebound. Under such circumstance, the Australian coal producer, Peabody Energy is under a huge financial distress risk. In four years, the equity market value of Peabody has fallen from
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ASSIGNMENT 1 The beginning inventory of merchandise at Waldo Company and data on purchases and sales for a three-month period are as follows: Date March 3 March 8 March 11 March 30 April 8 April 10 April 19 April 28 Transaction Inventory Purchase Sale Sale Purchase Sale Sale Purchase No. of units 60 120 80 50 100 60 30 100 Per Unit $1,500 1,800 5,000 5,000 2,000 5,000 5,000 2,200 Total $90,000 216,000 400,000 250,000 200,000 300,000 150,000 220
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Assignment 1 (20%, due 8:55 am Friday 13 March) Question 1. Zac Zaccary is a senior analyst, and your manager, at Top Notch Fund Managers. He, gently, throws a copy of the 2014 annual report of The Warehouse Group Limited on to your desk and states “the Five Year Summary shows that profit after tax increased from $60 million in 2010 to $78 million in 2014, but they also report an ‘adjusted’ net profit which decreased from $83 million to $61 million over the same period. As investors, which
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Concept: Assumptions: Accrual and going concern Characteristics: Relevance –If information is Influencing the decision and material. Faithful Representation- If the information is reliable i.e. Completeness, neutrality, Free from error. Enhancing characteristics: Comparability, verifiability, Timeliness, and Understandability Cash Flow: From operations, Investing, and financing Indirect method-Adjust from NI. Direct method- Collections from customers, Payment to supplier, operating expenses
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Chapter 6 Property and Equipment and Other Assets Overview 6.01 Health care entities use various kinds of property and equipment. Those assets are generally significant to the financial position of institutional health care entities, such as hospitals and nursing homes. Typical accounts used to record property and equipment transactions are land, land improvements, buildings and improvements, leasehold improvements, equipment (fixed and movable), leased property and equipment, accumulated depreciation
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helpful to not only individuals and families, but companies as well. In order to stay afloat, every company from the small business to the large corporation must keep track of their finances in order to succeed. Often they utilize the services of an accounting professional to keep this information in order. However if you are the owner of a small business or simply trying to deal with your home finances, you may not have the luxury of hiring a professional and need to do the work on your
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CHAPTER 1 Mini-Exercises 1-1 | (5) IFRS = International Financial Reporting Standards | 1-2 | (2) F, (8) G | 1-3 | (2) I, (9) E | 1-4 | (7) L, BS | 1-5 | (3) A, BS | 1-6 | (8) SE, BS | 1-7 | (10) A, BS | 1-8 | (3) R, I/S | 1-9 | (4) A | 1-10 | (5) (I) | 1-11 | (4) (F) | 1-12 | Retained earnings 12/31/13=$50,000 | 1-13 | (c) $75,(f) $59,(i) $63 | 1-14 | (c) $80, (f) $60, (i) $700 | 1-15 | (a) $(300), (b) $70, (c) $3,900 | 1-16 | (3) Total assets=$15,463, (4) Financed
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