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Definitions of manufacturing concepts Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass $75,000 Repair parts 16,000 Machine lubricants 9,000 Wages and salaries Machine operators 128,000 Production supervisors 64,000 Maintenance personnel 41,000 Other factory overhead Variable 35,000 Fixed 46,000 Sales commissions 20,000 Compute: a. Total direct materials consumed b. Total direct labor c. Total prime cost d. Total conversion cost
(a) Describe briefly how the following are used in the accounting for labour: (i) time sheets (ii) job cards. (b) The following details relate to the labour in a produ
Changes in Variable Cost and Selling Price per Unit The contribution sales ratio is affected by any change in variable cost or selling price per unit. This ratio is a mea
Kaplan Computers manufactures high end computer systems for the graphics design industry. At the present time, the company makes three computers with the following characteristics
The data set for the assignment is about breast cancer. Some of these data have been changed for the purposes of this assignment so the results from the analysis of this file may
This is defined as an actual amount paid or incurred, as opposed to estimated cost or standard cost. In contracting, actual costs amount includes direct labor, direct material, and
EARNINGS AFTER TAX-1500000 NUMBER OF EQUITY SHARE OUTSTANDING-300000 DIVIDEND PAID 600000 PRICE-EARNING RATIO-101 RATE OF RETURN ON INVESTMENT-20% WHAT IS OPTIMUM DIVIDEND PAY OUT
Generally Accepted Accounting Principles (GAAP) -Rules, conventions and procedures essential to define accepted accounting practice at a specific time. The highest level of such pr
Woodall Ltd has two production departments, X and Y. For month 2, the company budgets its overhead costs as: X Y Variable overhead
What are the key reasons for product cost differences among traditional costing system and ABC systems? Explain four decisions for which ABC information is useful?
The question required consideration of both the monetary performance and the financial position, from the perception of a potential lender. As with previous questions, candidates w
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