User Account

All Pages

How activity-based costing is different from job costing

Assignment Help Cost Accounting
Reference no: EM131735252

Assignment: Job Costing Value

You seemed to develop significant interest with your talk on the future of cost accounting. Your boss has heard about the excellent presentation and you are hopeful that your early retirement will take place.

A call for help has come in and with new hope you rise to answer the bell. Harmony Organs has found that their profits have shrunk. They manufacture and install pipe organs world-wide. They have many parts that are custom made for each instrument. In addition, a major part of the expenses are for packing, shipping and installation.

Norma Faye Raye, the daughter of the CFO, Linda Kaye Raye was in your presentation and came downstairs after the online club meeting excited about activity-based costing (ABC). Linda Kaye thinks that this could be a key change to get costs under control.

You are requested to elaborate on the value that job costing would bring to the company. The top managers have always wanted to see the profitability of each contract for the jobs they take. Discuss the advantages and benefits of job costing. Explain how job costing works. Include how job costing handles direct and indirect costs?

In addition to the above, introduce the company to activity-based costing. Explain how activity-based costing is different from job costing. Give examples of each costing approach and how they can be applied to different industries. Use the Argosy online library to locate at least one resource that will support your answer.

Write your initial response in 3-4 paragraphs. Apply APA standards to citation of sources.

Reference no: EM131735252

Questions Cloud

What transactions or events change owners equity : What transactions or events change owners' equity? What are examples of changes within owners' equity that do not change the total amount of owners' equity?
Prepare a cash budget for january and february : Nadia Company expects to have a cash balance of $44,900 on January 1, 2016. Prepare a cash budget for January and February
Show each transaction in the accounting equation : Account for stock transactions. Clarkson Chivas, Inc., was started on July 1, 2010. Show each transaction in the accounting equation
How standard cost system in carton medical devices can used : From the case study, determine how the standard cost system in Carton Medical Devices can be used for product costing and inventory valuation.
How activity-based costing is different from job costing : Explain how activity-based costing is different from job costing. Give examples of each costing approach and how they can be applied to different industries.
Describe the inventory method used by target : Describe the inventory method used by Target. How does Target value its inventories? (See Note 12). Why do you think Target selected this inventory method?
Compute inventory by conventional retail inventory method : Compute the inventory by the conventional retail inventory method. Compute the estimated inventory at May 31, assuming that the gross profit is 20% of net sales
What action did federal reserve and treasury department take : Discussion- What actions did the Federal Reserve and the Treasury Department take? What were the impacts of the decisions if any?
How an assets cost is determined as well as the two methods : Discuss how an asset's cost is determined as well as the two methods of depreciation discussed in your readings.

Reviews

Write a Review

 

Cost Accounting Questions & Answers

  Human capital expendituresdo you think that expenditures on

human capital expendituresdo you think that expenditures on human capital could be treated as an asset or an expense?

  How could the selling price of the bonds be determined

How could the selling price of the bonds be determined

  Prepare the required journal entries for the unrelated items

Prepare the required journal entries for the unrelated items and the bonds have a book value of $100,000 and a fair market value of $135,000.

  What is the net cost of the microwave to the dealer

A household appliance dealer buys microwave ovens from a manufacturer and resells them to its customers. What is the net cost of the microwave to the dealer, assuming it is paid for within 10 days of purchase?

  Tavorn corporation applies manufacturing overhead to

tavorn corporation applies manufacturing overhead to products on the sources of standard machine-hours. the companys

  Prepare the income statement for grimball cardiology

Prepare the income statement for Grimball Cardiology in good form and prepare a statement of owner's equity in good form.

  Transaction analysis and statements congress authorized the

transaction analysis and statements. congress authorized the flood control commission to start operation on october 1

  Analyse the process of controlling in manufacturing company

COAC216 Cost Accounting Assessment - Group Report. Analyse the process of Controlling in the manufacturing company for two issues: How can it monitor its manufacturing &/or selling plans

  Accounting for product costs and period costs

Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs - explain the basic difference in accounting for product costs and period costs.

  What will investor be willing to pay for this investment

If the appropriate discount rate for this investment is 10%, what will this investor be willing to pay for this investment?

  Enter the transactions for june in t accounts

Enter the transactions for June in T accounts. Use the accounting equation as a guide for setting up the T accounts.

  Business of designing and manufacturing helicopters

Since the VP's trust you, they asked you to figure out the most they should pay for a license from SohnCo and yuli-One Copters is known to be aggressive in ignoring intellectual property claims.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd