Thursday, January 30, 2020

Cost Accounting Essay Example for Free

Cost Accounting Essay If you are starting out in a new business, especially a service/manufacturing business, understanding the cost accounting system and which cost accounting system will work best for your company, is the first step to being successful. Once you find someone to help you navigate those waters, let them help you sail the rough seas of direct and indirect inventory, direct and indirect labor costs, and how to allocate factory overhead as well. While it all may sound confusing, having the right person with the right knowledge and advice, can make all the difference to you and the success of your business. We learned in Chapter 19 that cost accounting systems calculate, register, and record product costs. Once these costs have been recorded, administrators and supervising personnel can use these costs for setting their product prices, controlling operations and developing financial statements. These reports can play an important role in the financial decision making process for your company so it is imperative that they are accurate and detailed. There are two different types of cost accounting systems. There are called job order cost systems and process cost systems. While both systems are used by manufacturing companies, the job order cost system is used by companies that manufacture custom products or groups of products that are alike. The process cost system, on the other hand, is chosen by manufacturing companies that make units of a product that are impossible to tell apart and are produced using a continuous production process. Once you have chosen your type of cost accounting system, you will need to know what types of costs that will need to be reported and the difference in those costs. First, you have direct materials cost and indirect materials cost. Direct materials costs are materials that will be used as an essential part of the finished product. For example, for an electrician, direct materials would be receptacles and wiring. To be considered and classified as a direct materials cost, it has to be used as an essential part of the finished product and it has to be a significant portion of the total cost of the finished product. If it does not fit these two requirements, then it is considered an indirect materials cost, or factory overhead cost. â€Å"Indirect materials are materials used in the production process, but which cannot be linked to a specific product or job. Alternatively, they may be used in such insubstantial quantities on a per-product basis that it is not worthwhile to track them as direct materials† (Bragg) .An example of an indirect materials cost, or factory overhead cost, for an electrician would be electrical tape and solder. Next, we have direct and indirect labor costs. As with direct materials costs, labor costs must also meet the same two requirements to be labeled direct labor costs. They must be an essential part of the finished product and must be a significant portion of the total cost of the finished product. If they meet these two requirements, these labor costs are considered direct labor costs. If they do not meet these requirements, they are indirect labor costs, or factory overhead costs. The janitor who cleans the building incurs labor costs for the company; however, the janitorial costs are not an essential cost of manufacturing their product. As a result, the janitorial labor costs are indirect labor costs, or factory overhead cost. So what are factory overhead costs and how do you measure and record it? Our textbook describes both in detail. Factory overhead costs are indirect costs of the product. As previously mentioned, these can be materials and labor costs that do not directly enter into the finished product. Some examples include: Heating and lighting the factory Property taxes on factory buildings and land Depreciation on factory plant and equipment Sandpaper, glue, buffing compound Power to run the machines Salaries of production supervisors Because factory overhead costs cannot be directly earmarked to jobs, they are instead, applied to jobs using a common measure related to each job. This common measure is called an activity base. The activity base used to apply overhead should reflect the use of factory overhead costs. Factory overhead costs are usually applied to jobs using a predetermined factory overhead rate computed as follows: Predetermined FactoryEstimated Total Factory Overhead Costs Overhead Rate = Estimated Activity Base For example, if a company estimated a total factory overhead cost of $50,000 for the year and the activity base as 10,000 direct labor hours, a predetermined factory overhead rate of $5 per direct labor hour is computed using the estimated amounts at the beginning of the period. Predetermined factory overhead rated are computed because managers need information about the product cost of each job in a timely manner. With timely information, managers can fine-tune manufacturing methods or product pricing. Remember, during each step of your manufacturing process, identify and record every cost as well as determine whether the costs are direct, indirect, or factory overhead. Keeping up with these costs will help you determine the final cost of each unit and whether or not to make any changes necessary for a more profitable future. Works Cited Bragg, Steven, â€Å"What are Indirect Materials?† Questions Answers – Accounting Tools 1 June 2013. Warren, Reeve and Duchac. ACCT 1101 Chapters 18-26 Managerial Accounting. Ohio: Cengage, 2012. Print.

Wednesday, January 22, 2020

Community Analysis Essay -- Community Identity

Imagination plays a crucial role in creating communities and its identity. Fiction, in this case will cover both absolute fabrications and biases in the discourse of history's narration. History can be malleable in the hands of narrators, which they use to unite their audience into a common interpretation of their history. Alicia Barber, The author of the essay, Local Places, National Spaces: Public Memory, Community Identity and Landscape at Scotts Bluff National Monument, talks about two community's disagreement on a tourist spot's proper use and maintenance. Barber analyzes the community's relations to the landmark and how it affects the discourse of history's narration, the malleability of public memory, and how it all connects with community identity. Michael Ignatieff wrote about a civil struggle between two groups who identify themselves very differently from each other. In his analysis, he mixed his personal account of the situation, explaining the role of narcissism in the discourse of history's narration. His essay, The Warrior's Honor: Ethic War and the Modern Conscience, describes a more radical conflict from fabricated major differences. These two authors describe two very different approach to their conflicts, but their discourse to the narration of their history are similar. Their fabrications and biased narrations stem from their egocentric imaginations that support their identity. Imagination's role in a community's identity enables its members to associate their history with their identity. Patriotism, backed up by history, strengtheners a community's bond together as a group. Barber explains in the statement below how a community's involvement in history plays a role in their narration of their history. â€Å"Wh... ...s about their 'imagined community' and 'imagined image' make up their identity. These differences would not exist without their narcissistic imaginations that inevitably form fictions from history. But, because of their refusal to recognize the other group's relational differences, major differences rise from their actions. Nationalism's depends on these imaginations; it uses the group's self-love to stake their claim in history, narrate it in their narcissistic discourse, and blind members from relational differences that would weaken their identity as a group. Works Cited Barber, Alicia. â€Å"Local Places, National Spaces: Public Memory, Community Identity, and Landscape at Scotts Bluff National Monument.† American Studies 45 (2004): 35-64. Ignatieff, Michael. The Warrior's Honor: Ethnic War and the Modern Conscience. New York: Henry Holt and Company, 1997.

Tuesday, January 14, 2020

Was Caesar a Good Leader?

Julius Caesar was born on July 12, 100 BC in Rome. He was a great leader of the Roman Empire. Some people believe that Caesar wasn’t a great leader or man. Experts say he was greedy and a megalomaniac. They also say that he bribed the people to love him and he cheated the system. Other experts say he was a great leader because he was for the Roman people unlike previous leaders. I believe that Caesar was a great leader for the Roman people because he created reforms to help the people, created a new government, and changed the course of history.Caesar was very helpful to the people when he took over. He created many solid reforms to give the people what they needed. He won people over by creating them. Some of the reforms he created were tax reforms in Asia and Sicily, allowing captured people to become citizens, and giving free food to the poor. The tax reforms in Asia and Sicily were made because â€Å"both had suffered from avaricious governors and tax-collectors. (Seindal 2003) This put Caesar at an advantage because this reform got people in other places to like him better. Caesar allowed people that he captured while he was fighting to become citizens throughout his dictatorship. This helped the Roman Empire prosper because it had many different abilities and trades coming in with all the different people. Finally, Caesar gave food to the poor. He didn’t ration it. He just gave it out to them. This meant that people that couldn’t get their own food could have it very easily.

Monday, January 6, 2020

Notes On The s On Multimedia Mining - 2618 Words

.ISSUES ON MULTIMEDIA MINING ABSTRACT Data mining has proved to popular for extracting interesting information for multimedia data sets, such as audio, video, images, graphics, speech, text and combination of several types of data set. Multimedia data are unstructured data or semi-structured data. These data are stored in multimedia database, multimedia mining find information from large multimedia database system, using multimedia techniques and powerful tools. KEYWORDS: Data Mining, Multimedia Mining, Clustering, Classification. 1. INTRODUCTION Multimedia data mining is a subfield of data mining that using to find interesting information of implicit knowledge. Multimedia data are classified into five types, there are (i) text†¦show more content†¦Multimedia data include structured data and non-structured data such as audio, video, graphs, images and text media. It’s used to provide query processing, update processing, transaction management and Meta data management,security and integritydynamic storage organization Multimedia Data Mining 1.2 MULTIMEDIA DATA MINING CLASSIFICATIONS: The multimedia data mining classified in two categories (a) Static Media and (b) Dynamic media. Static media which contains text, graphics and images and Dynamic media such as Speech, Animation, Audio(music) and Video. Multimedia mining refers to analysis or large amount of multimedia information in order to extracting patterns or statistical relationships. Multimedia data mining Classification 2. BACKGROUND OF MULTIMEDIA DATA MINING Since 1960s the research in the field of multimedia has initiated for combining different multimedia data into one application when text and images were combined in a document. During the research and development process of video synchronization of audio and animation was completed using a timeline to specify when they should be played. The difficulties of multimedia data capture, storage, transmission, and presentation have been explored in the middle of 1990s where the multimedia standards MPEG-4, X3D, MPEG-7, and MX have continued to grow. These are