Tuesday, December 24, 2019
Cost Acc - 1339 Words
Name: ________________________ Class: ___________________ Date: __________ Quiz 2 1) Cost-volume-profit analysis is used primarily by management: A) as a planning tool B) for control purposes C) to prepare external financial statements D) to attain accurate financial results Answer: A Diff: 1 Terms: cost-volume-profit (CVP) Objective: 1 AACSB: Communication 2) One of the first steps to take when using CVP analysis to help make decisions is: A) finding out where the total costs line intersects with the total revenues line on a graph. B) identifying which costs are variable and which costs are fixed. C) calculation of the degree of operating leverage for the company. D) estimating how many products will have to be sold to make a decent†¦show more content†¦Answer: D Diff: 1 Terms: job Objective: 1 AACSB: Reflective thinking 12) Each indirect-cost pool of a manufacturing firm: A) utilizes a separate cost-allocation rate B) is a subset of total indirect costs C) relates to one cost object D) All of these answers are correct. Answer: D Diff: 1 Terms: cost pool Objective: 1 AACSB: Reflective thinking 13) Job costing: A) can only be used in manufacturing B) records the flow of costs for each customer C) allocates an equal amount of cost to each unit made during a time period D) is commonly used when each unit of output is identical Answer: B Diff: 2 Terms: job-costing system Objective: 2 AACSB: Reflective thinking 14) Many large companies which have multiple production methods and processes have hybrid costing systems that are: A) job-costing B) actual costing C) process costing D) a mix of job-costing and process costing Answer: D Diff: 2 Terms: job costing system, process-costing system Objective: 2 AACSB: Reflective thinking 15) Which of the following companies is most likely to use a process costing system. A) a manufacturer of breakfast cereal B) a manufacturer of large commercial aircraft C) a custom jewelry manufacturer D) a law firm Answer: A Diff: 1 Terms: process costing Objective: 2 AACSB: Reflective thinking 16) Stewart Company s actual manufacturing overhead is $2,800,000. Overhead is allocated on the basis of direct labor hours. The direct labor hours were 50,000 for the period.Show MoreRelatedCost Acc1156 Words  | 5 Pages350 $2,712,150 Ãâ€" = $2,410,800 25 2012 憯æ ´ 憯æ ´Ã©Æ' ¨Ã©â€"€ 憯æ ´Ã©Æ' ¨Ã©â€"€ 26 ç› ¸Ã¤ ºâ€™Ã¦ ³â€¢(reciprocal method) Ã¥Å" ¨Ã¥Ë†â€ 憤憯æ ´Ã©Æ' ¨Ã©â€"€æˆ æÅ" ¬Ã§ µ ¦Ã§â€¡Å¸Ã¦ ¥ éÆ' ¨Ã©â€"€æ™‚ï ¼Å'æ‰ ¿Ã¨ ª 所æÅ"侠¯ æ ´Ã©Æ' ¨Ã©â€"ێâ€"“ç› ¸Ã¤ ºâ€™Ã¦ ä ¾â€ºÃ¦â€ ¯Ã¦ ´Ã¦â„¢â€šÃ¦â€°â‚¬Ã§â„¢ ¼Ã§â€Å¸Ã¦Ë† æÅ" ¬Ã£â‚¬â€š è § £Ã¯ ¦â€"ï § ·Ã¦â€" ¹Ã§ ¨â€¹Ã¥ ¼ ï ¼Å¡ PM ï ¼ $6,300,000 ï ¼â€¹ 0.1IS IS ï ¼ $1,452,150 ï ¼â€¹ 0.2PM 1. Ã¥ ‡è ¨ PMç‚ ºÃ¥ · ¥Ã¥ » ç ¶ ä ¿ ®Ã©Æ' ¨Ã©â€"ی ®Å'å… ¨Ã§â€º ¸Ã¤ ºâ€™Ã¥Ë†â€ 憤å ¾Å'æˆ æÅ" ¬ (complete reciprocated cost) 2. Ã¥ ‡è ¨ IS ç‚ ºÃ¨ ³â€¡Ã¨ ¨Å ç ³ »Ã§ µ ±Ã©Æ' ¨Ã©â€"ی ®Å'å… ¨Ã§â€º ¸Ã¤ ºâ€™Ã¥Ë†â€ 憤å ¾Å'æˆ æÅ" ¬ Ã¥ ®Å'å… ¨Ã§â€º ¸Ã¤ ºâ€™Ã¥Ë†â€ 憤å ¾Å'æˆ æÅ" ¬ æÅ'ྠ¯Ã¦ ´Ã©Æ' ¨Ã©â€"€å€‹åˆ ¥Ã¦Ë† æÅ" ¬Ã¥Å ä ¸Å 所æÅ"‰éÆ' ¨Ã©â€"ێâ€"“ç› ¸Ã¤ ºâ€™Ã¥Ë†â€ 憤ä ¹â€¹Ã¦Ë† æÅ" ¬Ã£â‚¬â€š 27 ç› ¸Ã¤ ºâ€™Ã¦ ³â€¢(reciprocal method) IS ï ¼ $2,767,500 PM ï ¼ $6,576,750 è ³â€¡Ã¨ ¨Å ç ³ »Ã§ µ ±Ã©Æ' ¨Ã©â€"ۊ ¹â€¹Ã¥ ®Å'å… ¨Ã§â€º ¸Ã¤ ºâ€™Ã¥Ë†â€ 憤å ¾Å'æˆ æÅ" ¬Ã§â€š º$2,767,500ï ¼Å' æŽ ¥Ã¨â€˜â€"Ã¥ °â€¡Ã¨ © ²Ã¦Ë† æÅ" ¬Ã¥Ë†â€ 憤è‡ ³Ã¥â€¦ ¶Ã¤ »â€"憯æ ´Ã©Æ' ¨Ã©â€"€èˆ‡ç‡Ÿæ ¥ éÆ' ¨Ã©â€"ە ¼Å¡ 28 ç› ¸Ã¤ ºâ€™Ã¦ ³â€¢(reciprocal method) 憯æ ´Ã©Æ' ¨Ã©â€"€ å› ç‚ ºÃ¦â€ ¯Ã¦ ´Ã¦Ë† æÅ" ¬Ã§Å¡â€žÃ¥Ë†â€ 憤ï ¤Å é ¡ æ˜ ¯Ã¥Ë†â€ 憤åˆ °Ã¦â€°â‚¬Ã¦Å"‰ä ½ ¿Ã§â€ ¨Ã¦â€ ¯Ã¦ ´ 的憯æ ´Ã¨Ë†â€¡Ã§â€¡Å¸Ã¦ ¥ éÆ' ¨Ã©â€"ە ¼Å'è€Å'é žåÆ'…è€Æ'æ… ®Ã§â€¡Å¸Ã¦ ¥ éÆ' ¨Ã©â€"€ã€‚Read MoreCost Acc1315 Words  | 6 PagesName: Class: Cost Accounting Date: 02.12.2012 Quiz 5 1) Absorption costing: A) expenses marketing costs as cost of goods sold B) treats direct manufacturing costs as a period cost C) includes fixed manufacturing overhead as an inventoriable cost D) is required for internal reports to managers 2) Variable costing: A) expenses administrative costs as cost of goods sold B) treats direct manufacturing costs as a product cost C) includes fixed manufacturing overhead as an inventoriableRead MoreAmerican Connector Company Case Essay1309 Words  | 6 PagesAmerican Connector Company Case Severity of Threat by DJC The American Connector Company (ACC) should be extremely concerned with the im-pending entrance of DJC to the US landscape. Any new entrant will most likely be of the mentality to try and take as much market share as quickly as possible. This course of action usually involves a period of time when the new company will plan on operating at a loss, and will thereby be will-ing to price below market average with small margins. Realization ofRead MoreCosting Method Super Bakery1049 Words  | 5 PagesBakery, Inc. – Costing Methods Norman Thompson ACC/561 July 24, 2010 In today’s economy the business world has changed tremendously with the advances of computer systems, global competition, and innovation in technology. Because of these changes businesses compete to keep their products and services profitable as well as keeping a strong customer base. The main challenges for keeping a business successful are managing the cost of services and products while keeping the company leanRead MoreOriginal Alternative Methods Of Historical Cost Accounting966 Words  | 4 PagesIntroduction Nowadays, most companies usually utilize the Historical Cost accounting to report financial statements and reflect the profitability of business. It is more conventional and simple method. Nevertheless, when considered in relation to inflation and price changes, the alternative methods such as Current Purchasing Power Accounting (CPPA), Continuously Contemporary Accounting(CoCoA) and Current Cost Accounting(CCA) would be more appropriate. There is an assumption that ‘ applying thoseRead MoreTootsie Roll Industries, Inc. Loan Package1318 Words  | 6 PagesTootsie Roll Industries, Inc. Loan Package ACC/561 Tootsie Roll Industries, Inc. Loan Package In week three, Learning Team E presents a loan package for public held company, Tootsie Roll Industries, Inc., in business for over 100 years. Tootsie Roll is a manufacturer of confectionary products. In addition to sales in the United States, Tootsie Roll’s profits grew in Mexico, Canada, Europe, Asia, South and Central America. This loan package consists of three sections: Financial Ratios, CorporateRead MoreAccounting Ram1208 Words  | 5 PagesACC 312H – Spring 2012 Fundamentals of Managerial Accounting-Honors Instructor – Will O’Hara (copyright 2009  © John Wiley Sons) Thursday, January 19, 2012 Chapter 2 – Indentifying and Estimating Costs and Benefits |2.45  |Controllability and relevance (LO1). Rams Ramachandran is considering the wisdom of reducing the number of suppliers | | |his firm uses. Currently, Rams uses 25 suppliers to purchase goods worth $2,500,000 per year. To manage the orders and | | |coordinateRead MoreAcc 561 Week 3 Team Tootsie Roll Loan Paper1358 Words  | 6 PagesTootsie Roll Industries, Inc. Loan Package ACC/561 Tootsie Roll Industries, Inc. Loan Package In week three, Learning Team E presents a loan package for public held company, Tootsie Roll Industries, Inc., in business for over 100 years. Tootsie Roll is a manufacturer of confectionery products. In addition to sales in the United States, Tootsie Roll’s profits grew in Mexico, Canada, Europe, Asia, South and Central America. This loan package consists of three sections: Financial Ratios, CorporateRead MoreACC 561 Final Exam1196 Words  | 5 Pagesï » ¿ACC 561 Final Exam Copy this link to your browser and download http://www.finalexamguide.com/ACC-561-Final-Exam-5-90.htm 1).  _____ refers to accounting information developed for managers within an organization. A.     Internal auditing B.     Managerial accounting C.     Financial accounting D.     Tax accounting 2). Ethical accountants are important to society because _____. A.     they pay their taxes B.     the information produced is reliable C.     they will notRead MoreACC 561 Final Exam833 Words  | 4 Pagesï » ¿ACC 561 Final Exam Copy this link to your browser and download http://www.finalexamguide.com/ACC-561-Final-Exam-2-73.htm 1) According to the Financial Executives Institute, one function of controllership is _____. 2) Performance reports _____. 3) Budgets _____. 4) Ethical accountants are important to society because _____. 5) According to the Institute of Management Accountants’ Statement of Ethical Professional Practice, the standard of competence includes: 6) According
Sunday, December 15, 2019
A critique of a film Free Essays
Day by day, it is increasingly more difficult to maintain safety in our society, since interactions between people create dangers, either at ‘high’ political level, or on the daily basis. We live not in the no-man’s-land, so people adjust to new conditions and changing situations. Still, there are those, who cannot accept this environment and who, probably, cannot be accepted. We will write a custom essay sample on A critique of a film or any similar topic only for you Order Now Being busy with our education and careers, we simply have no time to think carefully about the hidden threats of the environment, which can be really aggressive, and even destruct our bodies. In the movie ‘Safe’, Carol White (Julianne Moore) lives with her husband and stepson in a comfortable suburban home in California. Her life is completely predictable, and in spite of the fact that she has ‘relationship’ with her husband, she begins feeling isolated and then – drained and depressed. Mysteriously, she falls ill with weird symptoms: she experiences nose bleedings, dizziness and allergies, and doctor attributes it to stress. Having passed different tests, she understand that there is nothing physically wrong with her, but nevertheless she takes medication and changes her diet, getting of the all-fruit diet and cutting back diary products. When her condition doesn’t go away, she gets a recommendation to visit psychiatrist. The problem with her mind is a reason for the illness. Carol finally understands the necessity, which requires of her to go to a place, where people who suffer from toxic allergies and those with AIDS can ‘clean’ themselves, and, probably, the only place where she can feel safe. As the plot develops, it becomes clear that the treatment, received at hospital, is improper and probably, only worsens the situation. Haynes’s idea was to show the powerlessness of traditional medical science against new illnesses, caused by external irritants, but destroy humans from inside. In the film, Carol combats a real ten-headed hydra, which responds to the new treatment courses with new painful fits of allergy. Carol drives her car – and endures a coughing fir; she breathes in her new perfumes –and feels lightheadedness. Aerobic classes, which pursue a goal of helping her relax, are initially doomed to be unsuccessful: she has never had tension in her life, she has never had close relations, so there was no ground for either extremely positive or extremely negative emotions in her life. Thus, she cannot relax, because she never experiences stresses in pure medical meaning. Moreover, the medicaments Carol receives are irritants, as they also consist of toxins or other synthetic substances. On the contrary, Dunning chooses a different direction and creates some kind of cult, or community with certain beliefs, values and philosophy. People living there find there attachment and new system of coordinates, in which it is possible to consider their illness and cope with related inner problems. It is possible to notice that by the end of the movie, she becomes increasingly more shattered, and probably her sickness breaks her and makes her re-evaluate the relationships which had existed in her life before she fell ill. She has a husband, bad hasn’t given birth to children, because Carol ‘endures’ the existence of a domestic plant, which should be carefully watered and supplied with the necessary nourishment, but whose opinion weighs like any plant’s opinion. It is possible to note that her first steps were determined (or, at least, highly influenced) by her husband. To my view, her sickness is a force which makes her re-think her existence and understand that she had had only ‘mechanical’ relationship with her husband, who even doesn’t try to understand her and empty conversations with her friends, carpenter and drycleaner. The scene, which reinforce her sense ‘of nobodiness’ is one where she looks at her husband from the bed and asks ‘Where am I? At the moment?’. He answers that she is in Carol and Greg’s house, but she begins to cry, because this lush house has never belonged to her as well as her own life. How to cite A critique of a film, Papers
Saturday, December 7, 2019
Patagonia Strategy Management Complete Sotution with Free Sample
Question: Discuss about the Patagonia Strategy Management. Answer: Introduction Its main objective is to make and provide good quality products without any harm. It provides solution regarding any environmental crisis and inspires to implement it. Patagonia offer the fair trade products in spring from 33 to 192 which are shown by the workers in India and also by the four newly certified factories in Sri Lanka out of one is in Los Angeles California (Patagonia, 2016). Strategy audit of Patagonia It is the process of planning about the business and making the strategies for the company in order to identify the shortage and problems for the development of the company. All the information regarding business plan or for the growth and development of the company are secured by the strategy audit which is supported by the management. It is the best place to discuss or give views to the CEO for any changes in business plan or to implement any action. It clears or make easy to understand in these three difficult areas: - the present business plan as well as relevant information regarding growth and development of the company is completely secured. It disclose the commitment which is shared by the management team and they believed in the vision of the company and the strategies and activities are both important in the business plan (SMI. n.d.).. The business logic which is the path of the business plan is fully secured if the company has no financial problems, if the company takes right action regarding the development of the vision, if the company is planning various activities in order to achieve its goal in time. It recognizes the requirement of the company in order to make changes in the business plan along with the business. It is categorized into two parts and these are strategic risk audit and strategic process audit. Strategic risk audit involves risk which is the result of achieving the organizational goal strategically. A strategy process audit is the judgment or deciding the value of the strategic management process as well as creating strategy methodically (MahlichSchneider,2013). Strategic risk audits Risk-based auditing It is commonly used by the various corporations. It is not important to imply the strategic risk based auditing, as they focus in their objectives. The strategic risk is commonly used or practiced which is considered as a risk based auditing. There is no need to change for the application of the strategic audit. Strategic risk project auditing: It is the planned piece of work. It includes the marked changes in the finance program of an audit for a correct position of an organization for the organization growth and development. It is executed by the current program and by the methods of the project auditing and are mostly used by the IAFs. Moreover these methods are linked with the most involving types of auditing except the formal type of audit. Because of this, the assurance activities are not provided and the other activities are considered as a consultant. In order to audit these projects, the person should have the good knowledge and maximum experience for project auditing with specialization. The concept of strategy and to implement it should be clear. The expectations of IAFs stakeholders should be properly managed which includes that they should not be known about the limitation of internal audit. Decentralized strategic alignment It does not need any changes for its appearance comparing with various activities of IAFs. Internal audit is a set of tools for group management which provides the further assurance on alignment along with the along with strategic decision and warn the organization, if there is any risk. It is not easy for an internal audit to find out that the decentralized strategy has a correct position along with organization strategy. Their relation is not easy to understand as they always required a local initiative which is dependent upon local circumstances. COSO ERM approach: It consist the course of action of an audit regarding the objectives and the risk associated with it. For this the judgment is made for the audit work regarding to achieve objectives strategic, operational, financial, compliance. It consist the relevant objectives along with the risk. Audit procedures are based on the relevant information which is addressed by the management for the reduction of various risks. Strategy process audit Strategy formulation process auditing The strategy process audit is appeared in this phase and strategy also. It is most difficult phase. Most of the IAFs has a reservation regarding the formulation of strategic auditing is that it should be decided by the senior management not by the employees or any staff. It is also applicable for the assessment of the content for the right strategy. For adopting the new strategy, a non-executive board member specifies that the internal audit must have the good opinions and knowledge about the company, procedures, IT infrastructure and has the capabilities for performing the work (KPMG, 2015). Auditing of decentralized strategy The issues for the process of formulating of strategy are not so strong, when it reaches to decentralized organizational strategy. Because of this the business unit management has shown but not an executive management. Strategy implementation auditing It focuses on transferring the companys strategy into an objective and determines the performances and put them into action for operational plan and budgets. The strategy are created by the management which is treated as given through which the program is changed and started the strategic projects on a tactful level. Strategy process program auditing It is the form of the procedures and projects which make the strategy which meant that the program and the projects have the direct impact on the strategy. It is similar with the previous organization. It makes the use of the program project auditing methodology. Strategy evaluation and control auditing Internal audit organized the evaluated strategies which are done by the company or determine the organizational strategy for an audit. It may take help of the previously two phases of the strategy process for formulating the strategies and to implement it. It focuses on the content and procedures of the strategic decision making (SMI, n.d.). Goals of Patagonia Its main goal is to create or make a quality based products without causing any harm and encourage business to give solutions related to environmental problems. After this Patagonias begins to find its place and taken away from pitons, the top-most products was facing problems like landmarks climbs. Patagonias profit was declining, the next year they broke even. But after that, profits were above the level. The company faces this problems for so many years but Patagonia know that how to make profit at large. Patagonia donates 1% of sales to a environmental non-profit, which cannot generate revenue, but it does. Patagonias success is they providing the good quality products and services to the customer. They believe that profit is not a goal, when you do right things profit automatically generates. Patagonias product life cycle initiative Patagonia implementing the new product lifecycle initiative, which encourage customer consume less and thus generate waste less. PLI is a 4-R e.g., reduces, repair, reuse and recycle. Patagonia encourage its customer to consume less, facilitate the repair of the damaged products, encourage the reuse of products through swap or resale and recycle a product if it could no longer be used Increase price If the PLI strategy is adopted, sales volume might decrease. In order to increase revenue, the company should increase the prices of the products. On the basis of the customers income, there is no adverse impact for increasing the prices of the products, but they may lose some customers who are price conscious. Recycling It is one of the 4-R and a key component of the PLI. By accepting clothes that are beyond repair and recovering reusable components, Patagonia can recycle that component in their own supply chain. Resale If the recycle products can reuse, they could also sell that product to other manufacturers. If a color or style was discontinued by Patagonia, but is now used by the north face. Third party repair services Patagonia should not bear the burden for repairing the products that is returned. In some cases, an expert is also needed. In other cases third party repair a service is required which manages logistics for shipping and reduces overall expenses. Charge for repair and recycle services If Patagonia unable to meet the revenue goal, the company have to charge for services such as repair and recycling. Customer engagement The company must launch a strong marketing campaign which includes either incentives or discount for customers who become frustrated. This could occur could occur if the items are lost, or take too long to repair. (Dartmouth,2007) Referances Dartmouth.(2007).patagonia-sustainability and the product lifecycle initiative. Gunderson.H.(2012).Patagonias code of ethic. Patagonia strategic management.United States. KPMG.(2015).Discussion paper strategy- related auditing, retrieved on 12 August 2016 from https://www.iia.nl/SiteFiles/Publicaties/IIA_Bro%20A4%20Strategy%20Related%20Audits%20DEF.pdf Mahlich.J.schneider.M.(2013).Patagonia defining the organisations strategic direction. Marcario.R.(2014).You should build a product that last. Environment the global edge. Patagonia.(2016).Build the best product, cause no unnecessary harmretrieved on 12 August 2016 from https://projectjust.com/brand_patagonia/ RMIB.(2008).Doing well by doing good:why patagonia make a profit naturally,retrieved on 12 August 2016 from https://www.treehugger.com/corporate-responsibility/doing-well-by-doing-good-why-patagonia-makes-a-profit-naturally.html SMI. (n.d.). Strategy audit an introduction, retrieved on 12 August 2016 from https://www.s-m-i.net/pdf/Strategy%20Audit%20introduction.pdf
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