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Global Partners is a manufacturing company that produces parts both for inventory and to custom specifications. Parts produced for inventory are sold at prices determined in the market. Custom parts are sold at a price equal to production cost plus a profit based on the cost of production. Although custom parts are different from the standard parts produced for inventory, the same production processes, equipment, labor, and materials are used for both. The CFO is designing a new cost system and is debating between direct labor hours and direct labor cost as a basis for applying overhead to products.
Required :a. Why (under what circumstances) would this choice lead to different costs being assigned to standard and custom products?b. Would it be ethical to decide on the allocation basis by considering the effect of the choice on the relative costs? Explain.
What is an operating cycle? Why is it important? What are some methods your organization uses to improve the operating cycle?
Consider the following well known companies and their key products and services:
which are NOT used to determine Factory Overhead and why. which categories ARE used to determine Factory Overhead.
janice morgan age 32 is single and has no dependents. she is a freelance writer. in january 2011 janice opened her own
Recognize three firms from 2009 FSB 100 which need a job-order costing system. Describe why they would most likely employ a job-order costing system.
Joe's Pizzeria was the only delivery based pizza chain serving a small college town for more than 20 years.
Discuss the way in which AGL has demonstrated its social and environmental accountability in the last two years and discuss the stance and initiatives of the Australian accounting profession on corporate social responsibility (CSR) and sustainabilit..
1.Consider the following large organizations.
Suppose the manager is trustworthy and will honor any agreement (or, equivalently, serious penalties are feasible and the manager's input can be observed). What is the cost to Ralph of acquiring input H?
The January 1, 2014, inventory of HD-240 is 2,000 units. Management desires an ending inventory each quarter equal to 40% of the next quarter's sales. Sales in the first quarter of 2015 are expected to be 25% higher than sales in the same quarter ..
What is the growth rate in sales for the past three years and are revenues and expenses growing at the same rate? What was the experience in the past few years?
Explain why Activity Based Costing (ABC) often reveals existing product cost cross-subsidization problems. How can ABC be used to improve profitability? Discuss some of the limitations of ABC.
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