BMT 2-Fundamentals of Management Control Sup de Co La Rochelle 2014-15 Review Problems Chapter 3: Job-Order Costing Exercise 1 Osborn Manufacturing uses a predetermined overhead rate of $18.20 per direct labor-hour. This predetermined rate was based on 12,000 estimated direct labor-hours and $218,400 of estimated total manufacturing overhead. The company incurred actual total manufacturing overhead costs of $215,000 and 11,500 total direct labor-hours during the period. Part (a) Determine
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------------------------------------------------- Question 1 Question 1 1. | | | Arwin Company’s production budget is as follows: Budgeted sales in units | 200,000 | Desired units in inventory, December 31 | 35,000 | | 235,000 | Estimated units in inventory, January 1 | 25,000 | Budgeted units of production | 210,000 | | | Each unit takes 20 minutes to produce and the standard labor rate is $15 per labor hour. What is Arwin’s direct labor budget? Answer | | |
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66 | Comprehend management accounting techniques | 3.1 Explain the difference between management and financial accounting3.2 Explain the budgetary control process3.3 Calculate and interpret variances from budget3.4 Evaluate the use of different costing methods for pricing purposes | 7778 | How to evaluate business projects | 4.1 Demonstrate the main methods of project appraisal4.2 Evaluate methods of project appraisal4.3 Explain how finance might be obtained for a business project | 999 | Conclusion
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Summary of information on each course/module | |Name of Course/Module |Principles of Management Accounting I | | |Course Code |BAC1054 | | |Status of Subject |Foundation | |
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Company manufactures small garden tractors on a highly automated assembly line. Its costing system uses two cost categories, direct materials and conversion costs. Each tractor must pass through the Assembly Department and the Testing Department. Direct materials are added at the beginning of the production process. Conversion costs are allocated evenly throughout production. Daltry Tractor uses weighted-average costing. Data for the Assembly Department for April 2012 are: Work in process, beginning
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H & R Block is one of the largest and oldest service providers. The company was founded by brothers Henry and Richard Bloch in 1955. The company began franchising in 1956 and they went public in 1962. The company employed over 100,000 tax professionals that are trained both within the U.S. and worldwide. The company has prepared more than 550 million tax returns since the business started in 1955. One key important key to the company success is that they have a retail office within 5 miles of
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that the division may encounter, and which the accounts team may not have the expertise or experience to handle. You have been appointed to a graduate position with the central accounting team and have been made aware that from time to time, your job assignation may take you out of the central office into a division. You will be reporting to Maureen Pistana, the Chief Financial Officer of Greenwood industries. On your first day, Maureen called you into her office and informed you that you have
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ACC 206 (Principles of Accounting II) Complete Class All Assignments ,DQs and Problems Click Following Link To get Entire Class http://homework-aid.com/ACC-206-Complete-Class-All-Assignments-DQs-and-Problems-617.htm You can get entire class as well as single Assignments and DQs ACC 206 Week 1 Assignment Chapter 1 Problems ACC 206 Week 1 Assignment Chapter 1 Problems Why are noncash transactions, such as the exchange of common stock a building, included on a statement of cash flows? How
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Chapter 3 Summary Chapter three discusses Job-Order Cost System. According to Dr. Zaidi provided PowerPoint slides, Job-Order System Costing is used to produce large, unique, high cost items and are made to order. Particular cost order system is not used for mass production and most of the costs could be allocated to each job order. Using this cost system, costs are accumulated for each job order, so each job order has separate record that gets produced in the same factory; however, this cost system
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services to clients, then collecting the related payment. 1c. The sales/collection process comprises seven steps: a. Take a customer’s order b. Approve the customer’s credit c. Fill the order based on approved credit d. Ship the product e. Bill the customer f. Collect payment g. Process uncollectible receivables as necessary. 1d. Sales Order Packing Slip Bill of lading Invoice Check Remittance Guide Deposit Slip 1e. Internal controls in the sales/collection process
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