Exam 2 Review Chapter 5- 7 * Job order costing – used for relatively small quantities of distinct products or unique services that conform to specifications designated by the purchaser * Process costing- used for large quantities of homogeneous goods * Three alternative valuation methods: Actual, Normal, 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
Words: 484 - Pages: 2
To: Chad Thomas Founder Chad's Creative Concepts From: Subject: Chad's Creative Concepts Date: Jan. 07, 2015 Chad's Creative Concepts is a small custom furniture manufacturing company that has earned a reputation for innovative designs and excellent quality by focusing production on specialty designed furniture. Chad's Creative Concepts has grown substantially and has caused significant problems between standardized furniture and specialty designed furniture production. The problems
Words: 290 - Pages: 2
Vietnam Population Mix: * The population is surpassed only by Indonesia as Southeast Asia's most heavily populated country. However, Vietnam is the region's most ethnically homogenous country with the Vietnamese making up about 90% of the population. * 85% of Vietnam's ethnic-minority population belongs to indigenous groups - the largest of which are Thai and Hmong - who have been settled in the mountainous regions of the country for many centuries. * About 3% of the population is
Words: 1579 - Pages: 7
software applications and computer hardware” by the Information Technology Association of America (IITA). Information Technology has been one of the fastest growing industries in the last three decades. With a growth rate of 5.6%, information technology sector is now more than a $1.6 trillion (Nasscom) industry from what was merely an industry of few millions in 1980s. Today almost all electronic devices have a chip programmed to run the device efficiently. Information technology does not just support
Words: 5459 - Pages: 22
and services industry context Structure and operation of UK economy: market structure; perfect/imperfect competition; oligopoly; duopoly and monopoly; national/local factors; determinants of free-market economy Government economic policy: aims and influence; effects on employment policy; inflation; balance of payments; economic growth in industry sector; current issues Income, wealth, employment and occupational distribution: structure and composition of business and services industry; patterns of
Words: 1093 - Pages: 5
Chase Strategy In the service industry, demand and production capacity is dependent on the nature of the business. The chase strategy is defined as matching demand and capacity period by period (Inman, 2015). In some businesses that have peaked seasons or low demand periods, like a football stadium or summer camp, this could cause some worry for employees or staffing needs; however, not all businesses treat the chase strategy the same. Certain types of industries have a set protocol in place for
Words: 491 - Pages: 2
Kilgore Manufacturing, Inc Case Background – Kilgore Manufacturing, Inc.: Kilgore Manufacturing, Inc. is a small manufacturing company based out of St. Louis area that is looking to expand their business. They operate within the aerospace industries that are currently bidding on new contracts related to the strategic defense initiative. Currently, they are betting against three different companies for a contract to produce R-7 relay switches. Whoever has the highest bid while producing over
Words: 733 - Pages: 3
easily and work in factories, helping to industrialise Russia. He hoped by building this Trans-Siberian railway, it would encourage workers to migrate from the agricultural east to the newly industrial west as now if they wanted to come and work in industries,
Words: 819 - Pages: 4
UK manufacturing has been in relative decline since the 1960s. Manufacturing as a share of real GDP has fallen from 30% in 1970 to 12% in 2010. This essay answer looks at the reasons why, and how significant government policies are as a cause. Manufacturing plays a crucial role in the competitiveness of the UK economy. Despite this, for far too long government policy has neglected manufacturing. During this period of neglect British manufacturing firms have repositioned themselves away from price-based
Words: 818 - Pages: 4
The advent of low-cost computing should not be seen as obviating the need for the ABC inventory classification scheme. Although the cost of computing has decreased considerably, the cost of data acquisition has not decreased in a similar fashion. Business organizations still have many items for which the cost of data acquisition for a “perpetual” inventory system is still considerably higher than the cost of the item. The standard EOQ model assumes instantaneous delivery (delivery of the entire lot
Words: 335 - Pages: 2
