produces two cello models. One is a standard acoustic cello that sells for $600 and is constructed from medium-grade materials. The other model is a custom-made amplified cello with pearl inlays and a body constructed from special woods. The custom cello sells for $900. Both cellos require 10 hours of direct labor to produce, but the custom cello is manufactured by more experienced workers who are paid at a higher rate. Most of Holly’s sales come from the standard cello, but sales of the custom
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OM Ed. 11: Quiz Questions Ch. 10 Chapter 10 Job Design and Work Measurement 1. The objective of a human resource strategy is to manage labor and design jobs so people are effectively and efficiently utilized. T or F? Answer: 2. Technology, location, and layout decisions are all possible constraints on human resource strategy. T or F? Answer: 3. Which of the following best describes mutual commitment in an organization? A) an instance in which management is committed to
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if they reported under IFRS. Be as specific as possible and discuss any costs and benefits to the company. There are many similarities in US GAAP and IFRS. Convergence continued to be a high priority for both the US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). However, the convergence process is designed to address only the most significant differences. While standards will be more similar, differences will continue to exist. In general, US
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grade of raw material. Changes in the market supply for the raw materials. All of the above. 2. What is the term that describes the rate companies frequently use to apply fixed overhead costs to units produced? Predetermined overhead rate. 3. Activity-based costing is commonly used with standard costing. Using more activity drivers increases the potential for managers to get much more information from activity-based costing than from the traditional approach. 4. What is the result
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limited by the option premium paid. (b) At what price will you breakeven if both put and call options are sold for the same premium of $5 Breakeven stock price $50+$5 = $55 (c) Assume that the risk free rate is 3% per annum. Also assume that the standard deviation of IBM’s stock return is 30% per year. What is the Black-Scholes value of the option you have identified in part a? Step 1: find d1 and d2 d_1=(ln(50/50)+(0.03+〖0.30〗^2/2)×8/12)/(0.30×√(8/12))=0.2041 d_2=0.2041-0.30×√(8/12)=-0
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Cap 2. Job Order Costing Cost accounting involves the procedures for measuring, recording, and reporting product cost. From the data accumulated, companies determine the total cost and the unit cost of each product. The two basic type of cost accounting system are job order cost and process cost. Under a job order cost system the company assigns cost to each job or to each batch of goods. A company uses process cost system when it manufactures a large volume of similar products. Production
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Ethics regarding the distribution of whistles. The decision whether to distribute the whistles as scheduled or incur additional cost to reproduce/repackage the whistle involves exercising ethical decision making. According to the quality assurance manager, the whistles have traces of lead above the U.S. legal acceptable limits for children ages 7 and younger and the cost to reproduce/repackage is $100,000. It is my goal to resolve this dilemma in a manner supported by the Toy Company as well as protect
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determining the cost of manufacturing/offering a product/service. Costing systems determine the overhead (indirect) cost of production and then allocate those overhead costs to a business’ products or services offered. There are two common methods for allocating these indirect costs to products. Activity Based Costing (sometimes referred to as “ABC” Costing) and Traditional Costing. Both these methods assess overhead costs and then attach these costs to products based on certain cost drivers. A cost driver
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expectations. You need to bring measuring performance yields information to the business position that is respect it goals, objectives, standards, and have the expectations. The measurement is predetermined standard. You need to know the business how it is performing in a business. The standards that may be used in running a business are quality, quantity, time cost and the behavior when you are running a business. When you have a business any size you need the efforts of all the functional area. You
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1 Homework Chapter 1 (E1-5, E1-9, E1-10 and E1-2A) For more course tutorials visit www.tutorialrank.com ACC 560 Week 1 Homework Chapter 1 (E1-5, E1-9, E1-10 and E1-2A) E1-5 E1-5 Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. 1. Property taxes on the factory building. 2. Production superintendents’ salaries. 3. Memory boards and chips used in assembling computers. 4. Depreciation on the factory equipment.
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