BUSINESS ACCOUNTING AND FINANCE (II) TERM PAPER PROCESS COSTING IN JIT SYSTEMS VIPIN PAVITHARAN(11172) ANIRBAN MAITHY(11201) SURENDRA(11205) PREM (11206) HARSHINI CHERUKU(11207)…

1. Cost Terms, Concepts and Classifications Chapter Two 2. 2-2 Learning Objective 1 Identify and give examplesIdentify and give examples of each of the three basicof each…

CLASSIFICATION OF COST Comparing Merchandising and Manufacturing Activities Merchandisers . . . Buy finished goods.  Sell finished goods.  Manufacturers . . . Buy raw…

Classification of cost 1. By the nature of the item (a natural classification). 2. With respect to the accounting period to which they apply. 3. By their tendency to vary…

Manufacturing Account This is an account prepared by a firm that manufactures (makes) goods. If a firm manufactures more than one product than they will prepare separate…

1. ManufacturingAccountsBY INQILAB PATELMAIN CAMPUS 2. Manufacturing Business MANY BUSINESS ENTITIES ENGAGE IN MANUFACTURING ACTIVITIES AND THIS INVOLVES:The purchasing…

Slide 1Chapter 17 1 Slide 2 Gather information to determine the production cost per unit Help managers: set selling prices that will lead to profits compute cost of goods…

Slide 1Cost estimation - Cost behavior What we really want to understand is how spending will vary in a variety of decision settings. Cause-effect relations and costs drivers.…

1. Chapter 3 Systems Design: Job-Order Costing Solutions to Questions 3-1 By definition, overhead consists of costs that cannot practically be traced to products or jobs.…

1. Prepared by: Robert G. Ducharme, MAcc, CA University of Waterloo, School of Accounting and Finance MANAGERIAL ACCOUNTING Eighth Canadian Edition GARRISON, CHESLEY, CARROLL,…