Friday, December 16, 2016

cost-plus pricing, Briefly describe the methods of determining sales prices under cost-plus pricing?

1. (a) What is cost-plus pricing? Briefly describe the methods of determining sales prices under cost-plus pricing? 4
(b) Differentiate the mark-up and margin with an example. 2

A
Cost-plus pricing:
Cost is the most important influences on price of a product or services. Cost-plus pricing means the determinations of sales price by calculating the cost of product or services and then adding a percentage mark-up for profit.
There are two methods of cost-plus pricing and these are as follows:
I. Full cost-plus pricing: where pricing is determined based on full cost of the product or service and adding a percentage mark-up. The full cost may be a fully absorbed production cost only, or it may include the portion of absorbed selling and distribution overheads.

ii. Marginal cost-plus pricing: involves adding a profit mark-up to the marginal or variable cost of production or sales.

Monday, December 12, 2016

Halo Enterprize Solution Cost Accounting Management Information

Question:

Halo Enterprises recently experienced a fire, forcing the company to use incomplete information to analyze operations. Consider the following data and assume that all materials purchased during the period were used in production:

Direct materials:
Standard price per pound: $9
Actual price per pound: $8
Price variance: $20,000F
Total of direct-material variances: $2,000F

Direct labor:
Actual hours worked: 40,000
Actual rate per hour: $15
Efficiency variance: $28,000F
Total of direct-labor variances: $12,000U

Halo completed 12,000 units.

Required:
Determine the following: (1) actual materials used, (2) direct-material quantity variance, (3) direct-labor rate variance, (4) standard labor rate per hour, and (5) standard labor time per finished unit.

Another version of the question as found in the Management Information Question of Institute of Chartered Accountants of Bangladesh May-June 2016 Knowledge Level Question

Kamal Manufacturing recently experienced a fire, forcing the company to use incomplete information to analyze operations. Consider the following data and assume that all materials purchased during the period were used in production:

Direct materials:
Standard price per pound: Tk.9
Actual price per pound: Tk.8
Price variance: Tk.20,000F
Total of direct-material variances: Tk.2,000F

Direct labor:
Actual hours worked: 40,000
Actual rate per hour: Tk.15
Efficiency variance: Tk.28,000F
Total of direct-labor variances: Tk.12,000U

Kamal Manufacturing completed 12,000 units.

Solution:

in brief:

(1) actual materials used 20,000 pounds,

(2) direct-material quantity variance Tk. $ 18,000U

(3) direct-labor rate variance Tk. $ 40,000U

(4) standard labor rate per hour Tk. $ 14, and

(5) standard labor time per finished unit 3.5hours

IN DETAILS

(1) actual materials used

We know, Price Variances = AQ(AP-SP)

or, Tk. 20,000F = AQ(8-9)

or -20,000 = AQ(-1)

or AQ = 20,000

So, actual materials used 20,000 pounds

Note THAT: in equation form, Favorable is negative and Unfavorable is positive.

(2) direct-material quantity variance

We know, Price variance + Material variance(MV) = Total direct-material variance(TV)

or, -20,000 + MV = -2,000

So, MV = 18,000

So, direct-material quantity variance tk. 18,000 Unfavorable

(3) direct-labor rate variance

We know,

Labor Rate Variance (LV) + Efficiency variance = Total direct-labor variance

or, LV + (-28,000) = 12,000

so, LV = 40,000

so, direct-labor rate variance Tk. 40,000 Unfavorable

(4) standard labor rate per hour

We know,

Labor rate variance = AH(AR-SR)

or, 40,000 = 40,000 (15-SR)

or, 15-SR = 1

So, SR = 15-1=14

So, standard labor rate per hour Tk. 14

(5) standard labor time per finished unit

We know, Efficiency variances = SR(AH-SH)

or, -28,000 = 14(40,000-SH)

or, 40,000-SH = -2,000

So, SH = 42,000

Units produced 12,000 units

So, standard labor time per finished unit = (42,000/12,000) Tk. = 3.5 Tk.

Solution provided by Sazzad Hossain, MBA CSCA™

A graduate in Accounting & Information Systems from University of Dhaka (BBA & MBA)

And a Chartered Accountants Student as of December 12, 2016

You can contact him by: sazzadais@gmail.com

Thanks

Thursday, September 29, 2016

Get EXTRA GB space in Mediafire

By joining mediafire.com using the below link you will get some extra space, that is, more than current 10 GB..

Click Here

Enjoy and Thanks a lot.

Wednesday, April 27, 2016

How to make videos show thumbnail in Ubuntu 16.04 LTS

To make or show videos thumbnail in your Ubutnu 16.04 LTS follow the following steps by opening the Terminal (Ctrl + T)

1. First install

sudo apt-get install ffmpeg ffmpegthumbnailer

2. Then

sudo gedit /usr/share/thumbnailers/totem.thumbnailer

3. Now replace the first three lines with these:

[Thumbnailer Entry]
TryExec=/usr/bin/ffmpegthumbnailer
Exec=/usr/bin/ffmpegthumbnailer -i %i -o %o -s %s -f

Now, Go here

.cache folder in your home folder

for this, click in your HOME, then click in the view, then tick on show hidden folders; you will see the .cache folder. Then delete all the files found in the following folders

fail large normal

Bingo !
You are done!

If you have any problem, please feel free to ask me here
sazzadais@gmail.com

Thanks

Friday, April 15, 2016

Using QuickBooks Accountant 2015 for Accounting 14th edition PDF Download free

Using QuickBooks® Accountant 2015 for Accounting, 14th Edition

Glenn Owen Allan Hancock College
ISBN-10: 1305084772 | ISBN-13: 9781305084773
448 Pages
Previous Editions: 2015, 2014, 2013
© 2016 | Published

About

Overview

Master fundamental accounting concepts and principles while developing your proficiency in using the market-leading accounting software: QuickBooks® Accountant 2015 by Intuit®. USING QUICKBOOKS® ACCOUNTANT 2015 FOR ACCOUNTING provides a well-organized, self-paced, concise approach that teaches the technology and application of accounting skills by illustrating how accounting information is both created and used. Fresh new cases and exercises throughout this edition reflect the latest QuickBooks® 2015 features, while unique "Trouble?" features help you avoid common accounting and software mistakes. A full version of QUICKBOOKS® ACCOUNTANT 2015 (140-day trial) accompanies each new edition and helpful online Video Demonstrations, written by the text's author, walk you through mastering key software skills. Trust the step-by-step instruction in USING QUICKBOOKS® ACCOUNTANT 2015 FOR ACCOUNTING, 14E to help you refine the practical, professional skills you need.

Features and Benefits

Grading Rubrics Save You Time In Grading Cases. These helpful tools save you time as they correspond to the cases at the end of each chapter and link each case requirement and event to a specific student-learning outcome. These valuable rubrics are available on the instructor companion web site for your convenience.
Ongoing Boston Catering Case Can Be Used Separately or as a Whole. Meaningful exercises related to the Boston Catering case appear in Chapters 6–11. Each part of the case is independent of the others, which gives you the flexibility to assign the whole case or focus on separate concepts.
Engaging Narrative Style Conveys The Importance of Accounting Topics and Software. The author uses a clear, interesting approach throughout the text to emphasize the importance of accounting topics and software in today's business world. Students see how and why systems operate with multiple applications.
Unique "Trouble?" Features Pinpoint Common Challenges. These valuable features throughout each chapter help learners anticipate common software and accounting mistakes and avoid those stumbling points.
Step-By-Step Building Block Approach Breaks Instruction Into Manageable Segments. This edition walks students through what they need to do next to master both key accounting and QuickBooks® skills.
Margin Icons Clearly Draw Attention To Service Or Merchandising Applications. This edition emphasizes service and merchandising businesses using margin icons throughout that clearly guide you and your students to service or merchandising applications within the book's comprehensive coverage.
Payroll Accounting Introduced In Optional Appendix. You have the flexibility to teach payroll accounting, one of the most significant facets of organizations with this edition's optional Payroll Accounting appendix. An additional appendix covers traditional accounting with debits and credits if you wish to integrate this material into your course.

PART I: GETTING STARTED WITH QUICKBOOKS® ACCOUNTANT.
1. An Interactive Tour of QuickBooks® Accountant.
2. Preparing a Balance Sheet Using QuickBooks® Accountant.
3. Preparing an Income Statement Using QuickBooks® Accountant.
4. Preparing a Statement of Cash Flows Using QuickBooks® Accountant.
5. Creating Supporting Reports to Help Make Business Decisions.
PART II: CREATING A QUICKBOOKS® ACCOUNTANT FILE TO RECORD AND ANALYZE BUSINESS EVENTS.
6. Setting Up Your Business's Accounting System.
7. Cash-Oriented Business Activities.
8. Additional Business Activities.
9. Adjusting Entries.
10. Budgeting.
11. Reporting Business Activities.
12. Managing Fixed Assets.
Appendix 1: Payroll Taxes.
Appendix 2: Traditional Accounting: Debits and Credits.
Index.

What's New

Full Version of Quickbooks® Accountant 2015 Accompanies Each New Edition. Your students practice skills using the leading accounting software as this edition comes with 140-day access to the full version of QuickBooks® Accountant 2015.
Updated Video Demonstrations Walk Students Through Software Skills. These dynamic videos, created by text author Glenn Owen are available on the companion website to guide students through QuickBooks® Accountant 2015 software using an easy-to-follow, step-by-step approach.
Revised Cases and Exercises Reflect Quickbooks® 2015 Features. All cases and hands-on exercises highlight the latest QuickBooks® 2015 features as students gain important hands-on practice.

Meet the Author

Author Bio

Glenn Owen

Glenn Owen is a tenured member of Allan Hancock College’s Accounting and Business faculty, where he has lectured on accounting and information systems since 1995. In addition, he is a retired lecturer at the University of California at Santa Barbara, where he taught accounting and information systems courses from 1980 to 2011. His professional experience includes five years at Deloitte & Touche as well as vice president of finance positions at Westpac Resources, Inc., and Expertelligence, Inc. An acclaimed and well-respected author, Mr. Owen is well known for his QuickBooks® texts, which offer self-paced case-based instruction on the use of this commercial accounting application. His innovative teaching style emphasizes the decision maker’s perspective and encourages students to think creatively. His graduate studies in educational psychology and his 40 years of business experience yield a balanced blend of theory and practice that permeates and strengthens all of his books.

PDF Download link: Click here

Meet the Author