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Group the costs of manufacturing candles. Indicate whether each of the following items should be classified as direct materials (DM), direct labor (DL), overhead (O), or none of these (N). Also indicate whether each is a prime cost (PC), a conversation cost (CC), or neither (N).
1. Depreciation of the cost of vats to hold melted wax
2. Cost of wax
3. Rent on the factory where candles are made
4. Cost of George's time to dip the wicks into the wax
5. Cost of coloring for candles
6. Cost of Ray's time to design candles for Halloween
7. Sam's commission to sell candles to Candles Plus
Your supervisor recently instituted a plan that encourages her managers to share non-private demographic characteristics voluntarily provided by those who purchase your firm's final product.
Describe the importance of cost tracing? Cost Allocation? How do they differ and how are them similar? Describe a cost driver? Select a day to day event that you may use these tools to properly budget yourself, and to see where you might be oversp..
A firm currently has a 36 day cash cycle. Assume that the firm changes its operations such that it decreases its receivables period by 4 days, increases its inventory period by 1 day and decreases its payable period by 2 days.
The Jung Corporation's budget calls for following production:Quarter 1 45,000 units Quarter 2 38,000 units Quarter 3 34,000 units Quarter 4 48,000 units. Each unit of production needs three pounds of direct material.
Planning strategies for the audit
The following information relates to activities in the mixing departments for June: Beginning WIP, June 1, 100,000 pounds. Cost in beginning WIP inventory were as follows:
Discuss how a budget could help you personally or your organization accomplish the objectives of long range plan developed for you personally or for your organization.
Clancy Inc. issues $2,000,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 8%.
The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000.
Curtis Corporation is beginning to manufacture Mighty Mint, a new mouthwash in a small spray container. The product will be sold to wholesalers and large drugstore chains in packages of 30 containers for $19 per package.
Appalachian Coal Mining believes that it can increase labor productivity and, therefore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing air problem in its mines.
Using your current work organization (or an organization of interest) as the subject matter, research the elements of business and prepare an APA formatted paper that:
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