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Discuss the importance of cost tracing? Cost Allocation? How do they differ and how are them similar? Define a cost driver? Choose a day to day event that you might use these tools to properly budget yourself, and to see where you might be overspending or underspending.
Discuss what are the primary accounting methods a manufacturing company may use in product cost flows. Does cost allocation come into play when employing these accounting methods? When would a manufacturer choose one over the other? Is one better than the other? In one paragraph start a manufacturing company making lemonade, choose one of the primary methods of accounting to trace your costs of goods sold, then compare to the other primary method and determine which is better.
Describe how a 3 percent decline in sales at Home Depot could cause the 21 percent decline in profits. What accounting concept was involved, how were the many major types of costs incurred by Home Depot likely affected by decline in its sales
Prepare a master budget for the three-month period.
Actual production and sales were 62,900 coffee mugs, actual direct materials usage was 10,000 lbs. at an actual price of $0.17 per lb., actual direct labor usage was 202,000 minutes at a total cost of $30,300
Stang Sports Equipment Company made 40,000 basketballs in a given year. Its manufacturing costs were $288,000 variable and $95,000 fixed. Suppose that no price changes will take place in the following year and that no changes in production techniq..
Disk City, Inc. is a retailer for digital video disks. The projected net income for the current year is $2,740,000 based on a sales volume of 270,000 video disks.
Process Solutions provides a computer-based document processing service
Task is to make a 10-12 powerpoint presentation on topic of costing. Explaining what needs to be done to project profits using the traditional income statement if sales were to increase 20%
What are the advantages and disadvantages of standard costing in management accounting?
Recognize which costing system? Job order or processcost? The following companies would primarily employ: (a) Quaker Oats, (b) Ford Motor Company, (c) Kinko's Print Shop, and (d) Warner Bros. Motion Pictures
Applying Activity Based Costing
Provide guidance relating to typical activities, examples of cost pools and cost drivers, and the overheads for Housebuilding company like Bovis Homes.
Describe how a flexible budget lends itself to cost-volume-profit analysis.
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