Transnational Race and the Black Movement Essay -- Race History

The United States and Latin America have seen their fair shares of inequality and hardships when it comes to those of the minority status. Minorities have successfully fought back in the timeless battle to achieve equality, rather it be with those of their own race, or from different ethnic backgrounds. When groups are able to coexist, their ideologies are expressed to one another and at times are able to influence different groups on their attitudes toward different subjects. Now that immigration has astronomically increased to the United States, the idea of this country as a â€Å"melting pot† has never been more correct. Being that more individuals are turning to the United States for permanent residence, race has obtained multiple definitions over the course of history, resulting from the ever-changing racial makeup of the United States and Latin America. The black movement has also contributed to the change in racial identification from the early 20th century up until to day, resulting in transnational ideologies of race. These two changes have culminated into the current culture that is taking over America, and making it into a more diversified nation. As the election of President Barack Obama proved to America and others around the world that this country was moving past race, the importance of transnational ideologies and race in America have led to a society that does not turn to race first, but instead looks at the beliefs and attitudes of those around it. When looking around the world at different races, it is easy to compare some of the sentiment toward these races to the very same attitudes American citizens have against them in the United States. Mark Anderson discusses how certain stereotypes about blacks have diffuse... ...rican American president, how far will we go in ensuring that race is a thing of the past? Works Cited Anderson, Mark. "Bad Boys and Peaceful Garifuna." In Neither Enemies nor Friends, by Anani Dzidzienyo and Oboler Suzanne, 101-115. New York: Palgrave Macmillian, 2005. DeScipio, Louis. "Transnational politics and civic engagement : do home-country political ties limit Latino immigrant pursuit of US civic engagement and citizenship?" In Transforming politics, transforming America : the political and civic incorporation of immigrants in the United States, by S. Karthick Ramakrishnan, and Ricardo Ramà ­rez Taeku Lee, n/a. Charlottesville: UVA Press, 2006. Lewis, Hope. "Transnational Dimensions of Race in America." Albany Law Review, 2009: 999-1028. Sawyer, Mark Q. Racial Politics in Post-Revolutionary Cuba. New York City: Cambridge University Press, 2006.

Comparing Andrew Marvells To His Coy Mistress and John Donnes Flea Es

Andrew Marvell’s To His Coy Mistress and John Donne’s Flea Andrew Marvell and John Donne both wrote â€Å"carpe diem† poetry full of vivid imagery and metaphysical conceits. This message can be clearly seen in the poems "To His Coy Mistress" by Marvell and Donne’s "Flea." Though both poems take a similar approach to the topic addressed, it is Marvell that writes more thoughtfully and carefully, coercing instead of Donne’s seemed demanding\begging. The speaker in â€Å"Coy Mistress† is trying to convince his woman of choice that it is much better to have sex now than to save her virginity for the future. Why save it until they are married? The man wants to experience the pleasure now. Marvell’s message here seems to be that instead of worrying about the future; planning exactly when we should do things, humans should take things as they come and enjoy them before it is too late. This theme relates to all aspects of life, not just sex. Donne’s narrator, though having the same goal and idea, is far more blunt in his reasoning. Noticing a flea that presumably had bitten them both, he ar...

Impact of Telecommunication Social or Economical

In 2013, worldwide telecommunications will reach $2. 3 trillion in revenues [1]. The revenue from telecommunication services is projected to grow at the rate of 3. 8 percent [1]. Not only is the telecommunications industry monetarily strong but also has a great impact on the social and economic development of the world. Telecommunications has changed the way people live, interact and conduct businesses. Rwanda, commonly known as â€Å"the Land of a Thousand Hills†, is a country in central Africa. This country faced a civil war in 1993.Between April and June 1994, an estimated 800,000 Rwandans were killed [9]. After this genocide, one of the most important areas of development that the Government focused on was Information and Communication Technology (ICT). Rwanda, with its hilly terrain, is favorable for growing tea and coffee. Export of tea comprised of 70% of its export [2]. Thus during the U. S. recession of 2009, Rwanda’s GDP grew by 4. 1% in comparison to 11. 2% a year before [4]. The geography of the country and the underdeveloped road/rail transportation adds on to increased cost in exporting goods [2].One of the main reasons for focusing on ICT policy was to convert Rwanda from an agrarian economy to an information-centric economy [3]. In order to achieve this, the Government has implemented National Information and Communication Technology (ICT) policy [8]. Earlier in Rwanda, there were a very few newspapers published on a weekly or even on biweekly basis. The Rwandan Government used to broadcast radio all throughout the day in order to educate people [2]. But this effort did not scale nationwide and the nature of information was limited.There were three major telecommunications providers in the country by 2012, because of National ICT policy and privatization of Rwanda’s telecommunications industry. Telecommunications services have provided a broader source of information through the Internet and has facilitated in educating the people of Rwanda across the nation. One of the main health care issues faced in Rwanda is spread of HIV/AIDS. Innovative ways, such as bulk short message services (SMS), have been used to create awareness among people regarding the virus.The Rwanda Government has given out free cell phones to community health care volunteers, in an attempt to help pregnant women [11]. If there are any questions, updates, or complications regarding the pregnancy, health volunteers text the local clinic and get a response within minutes [11]. Such telecommunications services have helped the social development of Rwanda. Up until 2006 telecommunications in Rwanda was state owned monopoly. Since then there has been privatization of the telecommunications industry [5].Privatization of the industry led to the arrival of international telecommunications giants. Foreign investment in the telecommunication industry has become one of the channels for the government to increase its revenue. In the fiscal year of 2011/ 2012, Rwanda’s government lost over $23 million because of fuel tax reduction. During the same fiscal year, Bharti Airtel, one of the international telecommunications giant from India, bought a telecommunications license worth $100 million [5]. The Rwanda Government has used this payment to offset part of Rwanda’s fiscal deficit [6].In order to increase their customer base, all of the telecommunications companies have introduced mobile money services. This service allows customers to send and receive money within the country and also overseas [7]. Almost, Rwf45 billion has been transferred to and from Rwanda from the inception of this service. The telecommunications companies are directly licensed by the National Bank of Rwanda to facilitate mobile money services. The mobile money service has helped in providing more financial services [10].Telecommunications has helped economic development of the country by enabling easy transfer of money [7]. In conclusion, ICT is helping to re-build Rwanda. The National ICT policy and action plan re-emphasizes the importance of ICT. Telecommunications has helped Rwanda develop socially and economically. This analysis has made me realize that telecommunications is not just any other industry, but has the power to change lives of millions. References: [1] Anonymous (2012). ‘Worldwide Telecommunications Industry Revenue to Reach $2. Trillion in 2013, [Online] Available: http://www. kten. com/story/20754074/worldwide-telecommunications-industry-revenue-to-reach-22-trillion-in-2013-says-insight-research-corp Accessed on January 30, 2013. [2] Anonymous. [Online] Available: http://www. historycentral. com/nationbynation/Rwanda/Economy. html Accessed on January 30, 2013 [3] K. David (2004, May). ‘IMPLEMENTING THE NATIONAL ICT POLICY AND PLAN in RWANDA’ [Online]. Available: http://www. powershow. com/view/200885-ZTVmZ/IMPLEMENTING_THE_NATIONAL_ICT_POLI

Mis Grameenphone

Mis in Grameen Phone chapter 01 Introduction Management and organizations facing constantly changing problems, diverse managerial styles, and ever present information needs offer a challenging context for developing computer based information systems. A management information system (MIS) is a system or process that provides information needed to manage organizations effectively. Management Information Systems (MIS) employs the integration of information technology in achieving the needs and objectives of the general workforce, managers and their organization.The development of MIS in organizations helps corporate executives in applying efficient and effective information technology-based business and economic decisions. With new trends in information technology, managers and organizations will face more advance and flexible management of organizational information. Management information systems are regarded to be a subset of the overall internal controls procedures in a business, w hich cover the application of people, documents, technologies, and procedures used by management accountants to solve business problems such as costing a product, service or a business-wide strategy.Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e. g. Decision Support Systems, Expert systems, and Executive information systems. The terms MIS and information system are often confused. MIS is sometimes referred to, in a restrictive sense, as information technology management. That area of study should not be confused with computer science. IT service management is a practitioner-focused discipline.MIS has also some differences with Enterprise Resource Planning (ERP) as ERP incorporates elements that are not necessarily focused on decision support. MIS uses computer technology to provide information and decision support to managers, helping them becomes more effective. Developmen ts in the young computer industry are changing corporate management style. Managers at all levels use similar data. Operating managers require data which is timely, precise, detailed, internal and historical.Upper level managers need data which is aggregated, external as well as internal, future oriented as well as historical and covering a longer span time. An effective MIS cannot be built without viable data management tools. Such tools were not generally available previously. Moreover, most organizations did not effectively use DBMS technology until two decades before. Most organizations these days rely heavily on their IT systems. An important key to a successful MIS is the effective management of an organization's data resources. hapter 02 Management information system 2. 1 MIS definition- Management information system is the combination of men, machine and procedures for collecting related information from the internal and external sources of an organization, and use these inf ormation for the purpose of decision making. Another way it can say it is the integrated system of man and machine which provides information support for the decision making in the organization. MIS also can define as a computer-based information system. According to Jorge M.Scott, â€Å"MIS is comprehensive and coordinated setoff information subsystems which are rationally integrated and which transform data into information in a variety of ways to enhance productivity in conformity with the manager’s style and characteristics on the basis of established quality criteria. † 2. 2 Applications of MIS MIS has become an integral part of the organization's existence and application on several specific areas. These include strategy supports, data processing and job performance development. MIS transforms data into useful information to formulate effective management decisions.Data processing by MIS allows organization of enormous quantity of business data and provides valua ble time-saving benefits for the organization. Job performance of the organization's human resources is greatly affected with the establishment of an MIS. Employees will have more efficient and effective ways in handling data and information. 2. 3 Elements of a Functional MIS A functional MIS has five elements which include timeliness, accuracy, consistency, completeness and relevance. The efficacy of an MIS will be deterred whenever one or more elements are compromised.The element of timeliness signifies that an organization's MIS can provide and distribute current information to its users. Processed information from MIS must be accurate and free from flaws. MIS consistency in handling data must be taken into consideration for well-defined, documented processes and ability to adapt with a dynamic environment. Management needs complete and related information in a summarized format to eliminate information overload. The MIS must be able to provide the management with relevant data f or effective planning and decision making. 2. 4 Advantages of MIS An MIS provides many benefits to the organization.Primarily, it facilitates organizational planning. MIS enhances the sound decision-making skills of the management by providing relevant information. Secondly, MIS minimizes information surplus by summarizing this in standard formats for managers to have detailed and concise reports. Thirdly, MIS facilities bring integration to an organization as it keeps other departments abreast with existing problems and needs. Lastly, MIS makes managerial control easier. This gives management the ability to assess and improve the organization's performance. 2. 5 MIS classification MIS is a concept, which is a matter of degree rather than an absolute one.In management there are perhaps few other areas other than MIS which gas created so much controversy. We would make an attempt to try to look into different types of MIS as they have evolved during the course of time. 1) Transaction Processing System (TPS) 2) Management Information System (MIS) 3) Decision Support System (DSS) 4) Executive Support System (ESS) 1) Transaction Processing System: It processes transactions and produces reports. I t represents the automation of fundamental, routine processing used to support business operations. It does not provide any information to the user for decision making.TPS uses data and produces data. 2) Management Information System: MIS in an information system that processes data and converts it into information. A management information system uses TPS for its data inputs. The information generated by the information system may be used for control of operations, strategic and long-range planning, short-range planning, management control and other managerial problem solving. 3) Decision Support System: A decision support system is an information system application that assists decision-making. DSS tends to be used in planning, analyzing alternatives and trial and error search solutions.They incorporate a variety of decision-making models and thus area capable of performing what-if analysis. 4) Executive Support System: An ESS is a special kind of DSS. It is specially tailored for the use of chief executives of an organization to support his decision-making. Thus ESS is a comprehensive information system that includes various type s of decision support systems, but it is more specific and person oriented. 2. 6 Objective of MIS There are three basic objectives of MIS are discussed below: 1. Operational control: It is the process of assuring that the specific tasks are carried out efficiently and effectively. 2.Management control: It is the process by which managers ensure that resources are obtained and used effectively and efficiently in the accomplishment of organizational objectives. 3. Strategic planning: It is the process of deciding on objective of the organization, on change in these objectives and on the policies that govern the acquisition , use and disposition of these resources. The nature and extent of information required for these purpose greatly depends upon the business environment in which it operates. As small or medium size organization do not have the resources or the organization to have a systematic information system. . 8 Characteristics of MIS The following are the characteristics feature of an MIS (a) Management oriented: This is the most significant characteristics of MIS the system is designed from the top down. This does not mean that the system will be geared to providing information directly to top management; rather, it means that the system development starts from an appraisal of management needs and overall business objective. It is possible that middle management or operating management is the focus of the system, such that their needs are the cornerstone on which the system is built. b) Management directed: Because of the management orientation of MIS, it is imperative that management activit y direct the system development efforts involvement is not enough. It is rare to find an MIS where the manager himself or a high-level reprehensive of his department is not spending a good deal of time in system design. (c) Integrated: Integration is significant because of the ability to produce more meaningful management information. For example. in order to develop an effective production scheduling system , we must balance , such factors as : * Set up costs * Work force Overtime rates * Production capacity * Inventory levels * Capital requirements * Customer service A system that ignores one of these elements –inventory, level for example is not providing management with an optional schedule. (d) Common data flow: Because of the integration concept of MIS there is an opportunity to avoid duplication and redundancy in data gathering, storage and dissemination for example- customer orders are the basis for building the customer for goods ordered, setting up the accounts rece ivable, initiating production activity, sales analysis, sales forecasting and so on. e) Heavy planning element: Management information system does not occur overnight, they take from three to five years and longer to get established firmly within a company. Therefore a heavy planning element must be present in MIS development. (f) Sub system concept (g) Flexibility and easy of use (h) Database (i) Distributed data processing (j) Information as a resource 2. 8 Roles of MIS (The performance monitoring role) The MIS has many roles to perform like the decision support role, the performance monitoring role and the functional support role.MIS are not just statistics and data analysis. They have to be used as an MBO (Management by Objectives) tool. They help: * To establish relevant and measurable objectives * To monitor results and performances (reach ratios) * To send alerts, in some cases daily, to managers at each level of the organization, on all deviations between results and pre-est ablished objectives and budgets. * The Functional Support Role Business processes and operations support function is the most basic. It involves collecting, recording, storing, and basic processing of data.Information systems support business processes and operations by: * Recording, storing and processing sales data, purchase data, investment data, payroll data and other accounting records * Recording, storing and processing inventory data, work in process data, equipment repair and maintenance data, supply chain data, and other production/operations records * Recording, storing and processing personnel data, salary data, employment histories, and other human resources records * Recording, storing and processing market data, customer profiles, customer purchase histories, marketing research data, advertising data, and other marketing records * Recording, storing an processing business intelligence data, competitor analysis data, industry data, corporate objectives, and other strate gic management records use of all the above to implement, control, and monitor plans, strategies, tactics, new products, new business models or new business ventures. * The Decision Support Role The business decision making support function goes one step further. Decision making is an integral part of the functioning of any organization. To facilitate Decision making in this ever-competitive world it is imperative that managers have the right information at the right time to bridge the gap between need and expectation. To facilitate better flow of information adequate Management Information Systems (MIS) is the need of the hour.Thus it is important to have an understanding of the MIS followed in an organization by all levels of management in order to take effective decisions. A management information system collects and processes data (information) and provides it to managers at all levels who use it for decision making, planning, program implementation, and control. 2. 9 Risks of M IS Management risks show the likelihood of economic events that could negatively affect the operations or earnings of the organization. Management decisions based on erroneous, ineffective or imperfect MIS may boost the risks in specific areas such as commodity pricing, company's liquidity, interest rates or foreign currency.A non-secure or poorly programmed MIS can result into hacking, data manipulation, unauthorized data access and routine work disruption that can result to incorrect management decisions or planning. chapter 03 COMPANY OVERVIEW GRAMEENPHONE GRAMEENPHONE is the largest mobile phone company in Bangladesh. In the midst of lack of communication means, GRAMEENPHONE has introduced an effective and user-friendly mobile phone network. It has put a positive impact on the lifestyle of the people of Bangladesh. 3. 1 Ownership: TELENOR owns 62% of GP. It is the state-owned telecommunication company in Norway operating since 1885. It is amongst the oldest, most sophisticated, and diversified telecom companies in the world.The company has a long history of successful cooperation with other operators and governments in and out of Norway. TELENOR's home base, Norway, has the highest density of mobile phones in the world and one of the most competitive markets in the field. TELENOR has been playing a pioneering role in the development of GSM, one the latest and most successful versions of cellular technologies. GRAMEEN Telecom the second largest shareholder owning 35% of GP, has been established by GRAMEEN Bank, which believes that a lack of communication facilities in the rural areas is one of the major obstacles to rapid economic development in the rural areas of Bangladesh.GRAMEEN Telecom's deep understanding of the people and culture of Bangladesh helps GP to build up convenient and cost-effective communication facilities in the rural areas, which in turn, create more jobs and open up business opportunities there. Marubeni Corporation is one of the large st general trading and investment companies in Japan. The company has a global business network that oversees a number of operations ranging from domestic export and import to offshore trade and retail marketing of finished products. Marubeni invests in manufacturing facilities and infrastructure projects, including in the telecommunications sector. The company owns 9. 5% of GP. Gonofone Development Corp. which owns 4. 5% of GP, is a telecommunications development company based in New York.In addition, three leading international financial institutions– the International Finance Corporation, Asian Development Bank and the Commonwealth Development Corporation — are also shareholders of GrameenPhone. The three organizations each hold three per cent of preferred shares of GrameenPhone. 4. 2 License and Network GrameenPhone currently holds both a GSM 900 and a GSM 1800 license. The government has not yet announced any plans to issue UMTS licenses in Bangladesh. With the in itiative of GrameenPhone, mobile phones are spreading rapidly throughout the country. A huge portion of Bangladesh is under GrameenPhone's coverage now. Today, more than one in three telephones in Dhaka and Chittagong are mobiles.GrameenPhone's network is divided into six zones according to the divisional borders: Dhaka Zone, Chittagong Zone, Khulna Zone, Sylhet Zone, Barisal Zone and Rajshahi Zone. Currently GP is operating in all six zones. The zone in which a subscriber is registered with GrameenPhone is that subscriber's Home Zone, and all other zones are Remote Zones. GrameenPhone offers the widest coverage in Bangladesh. The population coverage has increased from approximately 85% in 2005 to above 90% in 2006. In addition, GrameenPhone also offers GPRS in most of the country and EDGE in urban areas. 3. 2. 1 Specialties GSM Mobile Operator, Telecommunication Service Provider. 3. 2. 2 Healthline and BillPay:In 2006, GrameenPhone introduced â€Å"HealthLine†, providing aro und the clock access to medical services for its subscribers via the mobile phone, and â€Å"BillPay†, allowing utility bill payments with the mobile phone in selected areas. 3. 3 Products: Under Post Paid Service there are two products 1) GP-GP Regular 2) GP-GP National 3. 3. 1 Subscribers' Facilities: Grameenphone subscribers enjoy the following GSM features without bearing any additional costs: * Caller ID * Call Waiting * Call Conference * Call Divert * Call Barring * Value Added Services * Voice Mail Service (VMS) * Short Message Service (SMS) * Fax and Data Service (currently available only to corporate clients) * Pre-Paid Service chapter 04 MIS IN GRAMEENPHONEIn today’s world of ever increasing complexities of carrying out business, every organization, in order to survive and grow, must have a properly planned, analyzed, designed and maintained MIS. This need is even more increased because organizations now have to compete not only locally but also globally. Maj or organizational functions In GRAMEENPHONE major organizational functions- * Sales & Marketing * Major functions of systems: Sales management, market research, promotion, pricing, new products * Major application systems: Sales order info system, market research system, pricing system * Financing and Accounting * Major functions of systems: Budgeting, general ledger, billing, cost accounting * Major application systems:General ledger, accounts receivable, accounts payable, budgeting, funds management systems * Human Resources * Major functions of systems: Personnel records, benefits, compensation, labor relations, training * Major application systems: Payroll, employee records, benefit systems, career path systems, personnel training systems * Customer communication * Networking * Data Storage * Utility bill payment system * Software Integrates Facets: * Planning, Manufacturing, Inventory, Sales, Finance, Accounting * Transactions Alert All Involved Factors * Updates Files, Speeds, Action, Cuts Cost * Electronic commerce * Internet Links Buyers, Sellers * Lowers Transaction Costs Goods & Services, Advertised, Bought, Exchanged Worldwide * Business-To-Business Transactions, Increasing. In Grameenphone Company MIS is mostly needed at every single of moment. Without managing the total information related with employees and customers it can not operates its functions. Computer technology everywhere related of the company. The company realizes the potential and importance of information technology and to manage this information for the decision making. The MIS has greatly facilitated and synchronized the information flow in the organization and the management feels that is has played a role in the growth and increased performance of the company Organization computing resources: Software Resources:-Following software’s are used for the functioning of our information system and organization 1) Application Software: Following application software’s are used in our organization and functioning of our information system * Microsoft Office * NOD32 Anti-Virus * Adobe Reader 2) System Software: Following application software’s are used in our organization and functioning of our information system * Operating System (Windows XP and Linux) for PC’s. * Windows 2003 server for mainframes. Hardware Resources:- Following hardware resources are required for the functionality of IS and organization: * Personal computers * Canon Document Scanners * HP Printers TPS in Grameenphone:Effective transaction processing system is working in Grameenphone for official transactions, customer dealing, etc Payroll TPS Grameenphone’s payroll TPS is designed to get information and record about employers and employees stored in computers. It get information about the employee from the employee’s department and send it to payroll TPS from where it links that information with the previous record and prepare a report which is forwarded to management. Decision making about organizational function taken throw managing all this information. Management takes record of the employee’s efficiency to work and may declare added bonus or other incentive. And the record is updated in the general ledger as well as the master payroll (HUB). Customer Identification:At customer care centers data storage about customers this company also use computer technology. Collecting and gathering information about customers, dealing with them for products and services, offering new services to them, solving their problems for service by customer managers all are provided by computer application systems. Online Activity GP allows the customer the option of online uses. Purpose: Career with the organization. Input: Name, resume. Process: The information will send to organization server (HUB). Output: evaluate and select candidate. Sim card operations Different sim card operations and transaction maintain by computer programs.Call rat e, SMS rate, Voice messages record and flexi load transactions, handset facilities, additional service- all are maintain by computers which depends on information systems. MIS uses on these functions gives company better option to reach its own destiny. Telecommunication networking cannot thinkable without information system management. Every call, call-charges, talk-time duration, GSM Features and Value Added Services (all control by computer applications which is set before by computer application programs including different information. Relationship of MIS with TPS: MIS reports and summarizes the organization’s basic operations and these reports come from the basic transition processing systems.In case of GP organization the TPS’s of Recharge Cards, Payroll and Customer identification etc. provide the basic information about the organization’s activities. These activities are then summarized in the form of reports for the manager so that they can check wheth er the firm is working properly or not. If there are some flaws then they take control measures to fix those flaws. chapter 04 CONCLUSION It would appear that the role played by MIS within the study companies is undergoing a period of intense transformation—for many this involves a total rethink of their systems, and the way in which they are managed. IT representatives would appear to be ‘shedding’ their image of pure technologists.Instead, all displayed a keen interest in, and awareness of, the competitive pressures facing their organizations, and how managing information system could be used to assist in combating them. As part of the recognition of the importance of business issues, there is a concurrent recognition of the importance of information, and it play improving customer service—a key differentiator in environments where products are essentially the same. The relationship between management attitudes and the role played by information system i s an interesting one. Without support from management it would appear that MIS will never be deployed in innovative ways.But if MIS does not prove its potential then management will remain distinctly cool and unenthusiastic about its use. This would seem to be particularly true in areas where the company is operating in a relatively stable climate with little or no opposition. If information systems are to be deployed effectively in the organizational arena, and to realize their full potential, strategic or otherwise, such issues must continue to climb up the corporate agenda. Similarly, senior managers must realize that in the continuing search for competitive advantage in an ever more dynamic climate, IS management could, as has been widely maintained, be one of their most valuable (yet underdeveloped) organizational capabilities.This is a universally accepted fact that all managerial functions are performed through decision making. For taking rational decisions, timely and reliab le information is essential and is procured through a logical method of information collecting, processing and disseminating to decision makers. MIS assist decision makers, by providing the required information at various stages of decision making and thus greatly help the organization to achieve its goals and objectives. On the other hand, if an MIS is poorly planned and constructed, it may provide inaccurate, irrelevant or obsolete information, which may even prove fatal for the organization.

Cost Accounting Answers

CHAPTER 4 JOB COSTING 4-1Cost pool––a grouping of individual indirect cost items. Cost tracing––the assigning of direct costs to the chosen cost object. Cost allocation––the assigning of indirect costs to the chosen cost object. Cost-allocation base––a factor that links in a systematic way an indirect cost or group of indirect costs to cost objects. 4-2In a job-costing system, costs are assigned to a distinct unit, batch, or lot of a product or service.In a process-costing system, the cost of a product or service is obtained by using broad averages to assign costs to masses of identical or similar units. 4-3An advertising campaign for Pepsi is likely to be very specific to that individual client. Job costing enables all the specific aspects of each job to be identified. In contrast, the processing of checking account withdrawals is similar for many customers. Here, process costing can be used to compute the cost of each checking account withdrawal. -4The seven steps in job costing are: (1) identify the job that is the chosen cost object, (2) identify the direct costs of the job, (3) select the cost-allocation bases to use for allocating indirect costs to the job, (4) identify the indirect costs associated with each cost-allocation base, (5) compute the rate per unit of each cost-allocation base used to allocate indirect costs to the job, (6) compute the indirect costs allocated to the job, and (7) compute the total cost of the job by adding all direct and indirect costs assigned to the job. -5Major cost objects that managers focus on in companies using job costing are a product such as a specialized machine, a service such as a repair job, a project such as running the Expo, or a task such as an advertising campaign. 4-6Three major source documents used in job-costing systems are (1) job cost ecord or job cost sheet, a document that records and accumulates all costs assigned to a specific job, starting whe n work begins (2) materials requisition record, a document that contains information about the cost of direct materials used on a specific job and in a specific department; and (3) labor-time sheet, a document that contains information about the amount of labor time used for a specific job in a specific department. -7The main advantages of using computerized source documents for job cost records are the accuracy of the records and the ability to provide managers with instantaneous feedback to help control job costs. 4-8Two reasons for using an annual budget period are a. The numerator reason––the longer the time period, the less the influence of seasonal patterns in overhead costs, and b. The denominator reason––the longer the time period, the less the effect of variations in output levels or quantities of the cost-allocation bases on the allocation of fixed costs. -9Actual costing and normal costing differ in their use of actual or budgeted indirect cost rates: | |Actual |Normal | | |Costing |Costing | |Direct-cost rates |Actual rates |Actual rates | |Indirect-cost rates |Actual rates |Budgeted rates |Each costing method uses the actual quantity of the direct-cost input and the actual quantity of the cost-allocation base. 4-10A house construction firm can use job cost information (a) to determine the profitability of individual jobs, (b) to assist in bidding on future jobs, and (c) to evaluate professionals who are in charge of managing individual jobs. 4-11The statement is false. In a normal costing system, the Manufacturing Overhead Control account will not, in general, equal the amounts in the Manufacturing Overhead Allocated account.The Manufacturing Overhead Control account aggregates the actual overhead costs incurred while Manufacturing Overhead Allocated allocates overhead costs to jobs on the basis of a budgeted rate times the actual quantity of the cost-allocation base. Underallocation or overallocation of indirect (overh ead) costs can arise because of (a) the Numerator reason––the actual overhead costs differ from the budgeted overhead costs, and (b) the Denominator reason––the actual quantity used of the allocation base differs from the budgeted quantity. 4-12Debit entries to Work-in-Process Control represent increases in work in process.Examples of debit entries under normal costing are (a) direct materials used (credit to Materials Control), (b) direct manufacturing labor billed to job (credit to Wages Payable Control), and (c) manufacturing overhead allocated to job (credit to Manufacturing Overhead Allocated). 4-13Alternative ways to make end-of-period adjustments to dispose of underallocated or overallocated overhead are as follows: (i)Proration based on the total amount of indirect costs allocated (before proration) in the ending balances of work in process, finished goods, and cost of goods sold. ii)Proration based on total ending balances (before proration) in w ork in process, finished goods, and cost of goods sold. iii) Year-end write-off to Cost of Goods Sold. iv) The adjusted allocation rate approach that restates all overhead entries using actual indirect cost rates rather than budgeted indirect cost rates. 4-14A company might use budgeted costs rather than actual costs to compute direct labor rates because it may be difficult to trace direct labor costs to jobs as they are completed (for example, because bonuses are only known at the end of the year). -15Modern technology of electronic data interchange (EDI) is helpful to managers because it ensures that a purchase order is transmitted quickly and accurately to suppliers with minimum paperwork and costs. 16. (10 min) Job order costing, process costing. a. Job costingl. Job costing b. Process costingm. Process costing c. Job costingn. Job costing d. Process costingo. Job costing e. Job costingp. Job costing f. Process costingq. Job costing g. Job costingr. Process costing h. Job costin g (but some process costing)s. Job costing i.Process costingt. Process costing j. Process costingu. Job costing k. Job costing 4-17(20 min. )Actual costing, normal costing, accounting for manufacturing overhead. 1. [pic]=[pic] =[pic]= 1. 80 or 180% [pic]=[pic] =[pic]= 1. 9 or 190% 2. Costs of Job 626 under actual and normal costing follow: ActualNormal CostingCosting Direct materials$ 40,000$ 40,000 Direct manufacturing labor costs30,00030,000 Manufacturing overhead costs $30,000 ( 1. 90; $30,000 ( 1. 80 57,000 54,000 Total manufacturing costs of Job 626$127,000$124,000 3. pic]=[pic] ( [pic] =$1,450,000 ( 1. 80 =$2,610,000 [pic]=[pic] – [pic] =$2,755,000 ( $2,610,000 = $145,000 There is no under- or overallocated overhead under actual costing because overhead is allocated under actual costing by multiplying actual manufacturing labor costs and the actual manufacturing overhead rate. This, of course equals the actual manufacturing overhead costs. All actual overhead costs are allocated to products. Hence, there is no under- or overallocated overhead. 4-18(20 -30 min. ) Job costing, normal and actual costing. 1. pic]=[pic] = [pic] =$50 per direct labor-hour [pic]=[pic] = [pic] =$40 per direct labor-hour These rates differ because both the numerator and the denominator in the two calculations are different—one based on budgeted numbers and the other based on actual numbers. |2a. |Laguna |Mission | | |Model |Model | | Normal costing | | | |Direct costs | | |Direct materials |$106,760 |$127,550 | |Direct labor |36,950 |41,320 | | |143,710 |168,870 | |Indirect costs | | | |Assembly support ($50 ( 960; $50 ( 1,050) |48,000 |52,500 | |Total costs |$191,710 |$221,370 | |2b.Actual costing | | | |Direct costs | | | |Direct materials |$106,760 |$127,550 | |Direct labor |36,950 |41,320 | | |143,710 |168,870 | |Indirect costs | | | |Assembly support ($40 ( 960; $40 ( 1,050) |38,400 |42,000 | |Total costs |$182,110 |$210,870 | 3. Normal costing enables Am esbury to report a job cost as soon as the job is completed, assuming that both the direct materials and direct labor costs are known at the time of use. Once the 960 direct labor-hours are known for the Laguna Model (June 2011), Amesbury can compute the $191,710 cost figure using normal costing. Amesbury can use this information to manage the costs of the Laguna Model job as well as to bid on similar jobs later in the year. In contrast, Amesbury has to wait until the December 2011 year-end to compute the $182,110 cost of the Laguna Model using actual costing.Although not required, the following overview diagram summarizes Amesbury Construction’s job-costing system. [pic] 4-19(10 min. )Budgeted manufacturing overhead rate, allocated manufacturing overhead. 1. Budgeted manufacturing overhead rate = [pic] = [pic] = $24 per machine-hour |2. |Manufacturing |= |Actual |( |Budgeted manufacturing | | |overhead | |machine-hours | |overhead rate | | |allocated | | | | | = 170,000 ? $2 4 = $4,080,000 3.Since manufacturing overhead allocated is greater than the actual manufacturing overhead costs, Gammaro overallocated manufacturing overhead: Manufacturing overhead allocated$4,080,000 Actual manufacturing overhead costs 4,050,000 Overallocated manufacturing overhead$ 30,000 4-20(20-30 min. )Job costing, accounting for manufacturing overhead, budgeted rates. 1. An overview of the product costing system is [pic] Budgeted manufacturing overhead divided by allocation base: Machining overhead:[pic] = $36 per machine-hour Assembly overhead:[pic] = 180% of direct manuf. labor costs 2. Machining department, 2,000 hours ( $36$72,000 Assembly department, 180% ( $15,000 27,000 Total manufacturing overhead allocated to Job 494$99,000 3.MachiningAssembly Actual manufacturing overhead$2,100,000$ 3,700,000 Manufacturing overhead allocated, $36 ( 55,000 machine-hours1,980,000— 180% ( $2,200,000 — 3,960,000 Underallocated (Overallocated)$ 120,000$ (260,000) 4-21 (20(2 5 min. ) Job costing, consulting firm. 1. Budgeted indirect-cost rate for client support can be calculated as follows: Budgeted indirect-cost rate = $13,600,000 ? $5,312,500 = 256% of professional labor costs 2. At the budgeted revenues of $21,250,000 Taylor’s operating income of $2,337,500 equals 11% of revenues. Markup rate = $21,250,000 ? $5,312,500 = 400% of direct professional labor costs 3. Budgeted costsDirect costs: Director, $198 ( 4$ 792 Partner, $101 ( 171,717 Associate, $49 ( 422,058 Assistant, $36 ( 153 5,508$10,075 Indirect costs: Consulting support, 256% ( $10,075 25,792 Total costs$35,867 As calculated in requirement 2, the bid price to earn an 11% income-to-revenue margin is 400% of direct professional costs. Therefore, Taylor should bid 4 ( $10,075 = $40,300 for the Red Rooster job. Bid price to earn target operating income-to-revenue margin of 11% can also be calculated as follows: Let R = revenue to earn target income R – 0. 11R = $35,867 0. 89R = $ 35,867 R = $35,867 ? 0. 89 = $40,300 Or Direct costs $10,075 Indirect costs 25,792Operating income (0. 11 ( $40,300) 4,433 Bid price$40,300 4-22(15–20 min. )Time period used to compute indirect cost rates. 1. | |Quarter | | |1 |2 |3 |4 |Annual | |(1) Pools sold |700 |500 |150 |150 |1,500 | |(2) Direct manufacturing labor hours (0. 5 ( |350 |250 |75 |75 |750 | Row 1) | | | | | | |(3) Fixed manufacturing overhead costs |$10,500 |$10,500 |$10,500 |$10,500 |$42,000 | |(4) Budgeted fixed manufacturing overhead |$30 |$42 |$140 |$140 |$56 | |rate per direct manufacturing labor hour | | | | | | |($10,500 ( Row 2) | | | | | | | |Budgeted Costs Based on Quarterly | | |Manufacturing Overhead Rate | | |2nd Quarter |3rd Quarter | |Direct material costs ($7. 0 ( 500 pools; 150 pools) |$ 3,750 |$ 1,125 | |Direct manufacturing labor costs |4,000 |1,200 | |($16 ( 250 hours; 75 hours) | | | |Variable manufacturing overhead costs |3,000 |900 | |($12 ( 250 hours; 75 hours) | | | |Fixed manufac turing overhead costs | 10,500 | 10,500 | |($42 ( 250 hours; $140 ? 5 hours) | | | |Total manufacturing costs |$21,250 |$13,725 | |Divided by pools manufactured each quarter | ? 500 | ? 150 | |Manufacturing cost per pool |$ 42. 50 |$ 91. 50 | 2. | |Budgeted Costs Based on Annual Manufacturing | | |Overhead Rate | | |2nd Quarter |3rd Quarter | |Direct material costs ($7. 0 ( 500 pools; 150 pools) |$ 3,750 |$1,125 | |Direct manufacturing labor costs |4,000 |1,200 | |($16 ( 250 hours; 75 hours) | | | |Variable manufacturing overhead costs |3,000 |900 | |($12 ( 250 hours; 75 hours) | | | |Fixed manufacturing overhead costs | 14,000 | 4,200 | |($56 ( 250 hours; 75 hours) | | | |Total manufacturing costs |$24,750 |$7,425 | |Divided by pools manufactured each quarter | ( 500 | ( 150 | |Manufacturing cost per pool |$ 49. 50 |$49. 50 | 3. | |2nd Quarter |3rd Quarter | |Prices based on quarterly budgeted manufacturing overhead rates calculated in |$55. 25 |$118. 5 | |requirement 1 | | | |($42. 50 ( 130%; $91. 50 ( 130%) | | | |Price based on annual budgeted manufacturing overhead rates calculated in |$64. 35 |$64. 35 | |requirement 2 | | | |($49. 50 ( 130%; $49. 50 ( 130%) | | |Splash should use the budgeted annual manufacturing overhead rate because capacity decisions are based on longer annual periods rather than quarterly periods. Prices should not vary based on quarterly fluctuations in production. Splash could vary prices based on market conditions and demand for its pools. In this case, Splash would charge higher prices in quarter 2 when demand for its pools is high. Pricing based on quarterly budgets would cause Splash to do the opposite—to decrease rather than increase prices! 4-23(10–15 min. ) Accounting for manufacturing overhead. 1. Budgeted manufacturing overhead rate= [pic] = $30 per machine-hour 2. Work-in-Process Control7,350,000 Manufacturing Overhead Allocated7,350,000 (245,000 machine-hours ( $30 per machine-hour = $7,350,000) 3. 7,350,000– $7,300,000 = $50,000 overallocated, an insignificant amount of actual manufacturing overhead costs $50,000 ? $7,300,000 = 0. 68%. Manufacturing Overhead Allocated7,350,000 Manufacturing Department Overhead Control7,300,000 Cost of Goods Sold50,000 4-24(35(45 min. ) Job costing, journal entries. Some instructors may also want to assign Exercise 4-25. It demonstrates the relationships of the general ledger to the underlying subsidiary ledgers and source documents. 1. An overview of the product costing system is: 2. & 3. This answer assumes COGS given of $4,020 does not include the writeoff of overallocated manufacturing overhead. |2. (1) Materials Control |800 | | | |Accounts Payable Control | |800 | | |(2) Work-in-Process Control |710 | | | |Materials Control | |710 | | |(3) Manufacturing Overhead Control |100 | | | |Materials Control | |100 | | |(4) Work-in-Process Control |1,300 | | | |Manufacturing Overhead Control |900 | | | |Wages Payable Control | |2,200 | | |(5) Manufacturing Overhead Control | 400 | | | |Accumulated Depreciation––buildings and | | | | |manufacturing equipment | |400 | | |(6) Manufacturing Overhead Control | 550 | | | |Miscellaneous accounts | |550 | | |(7) Work-in-Process Control |2,080 | | | |Manufacturing Overhead Allocated | |2,080 | | |(1. 60 ( $1,300 = $2,080) | | | | |(8) Finished Goods Control |4,120 | | | |Work-in-Process Control |4,120 | | |(9) Accounts Receivable Control (or Cash) |8,000 | | | |Revenues | |8,000 | | |(10) Cost of Goods Sold |4,020 | | | |Finished Goods Control | |4,020 | | |(11) Manufacturing Overhead Allocated |2,080 | | | |Manufacturing Overhead Control | |1,950 | | |Cost of Goods Sold | |130 | 3. |Materials Control | |Bal. /1/2011 |100 |(2) Work-in-Process Control (Materials used) | | |(1) Accounts Payable Control | |(3) Manufacturing Overhead Control (Materials |710 | |(Purchases) |800 |used) | | | | | |100 | |Bal. 12/31/2011 |90 | | | |Work-in-Process Control | |B al. /1/2011 |60 |(8) Finished Goods Control (Goods completed) | | |(2) Materials Control (Direct | | |4,120 | |materials) |710 | | | |(4) Wages Payable Control (Direct | | | | |manuf. labor) | | | | |(7) Manuf. Overhead Allocated |1,300 | | | | | | | | | |2,080 | | | |Bal. 2/31/2011 |30 | | | |Finished Goods Control | |Bal. 1/1/2011 |500 |(10) Cost of Goods Sold |4,020 | |(8) WIP Control | | | | |(Goods completed) |4,120 | | | |Bal. 12/31/2011 |600 | | | Cost of Goods Sold | |(10) Finished Goods Control (Goods | |(11) Manufacturing Overhead Allocated (Adjust | | |sold) |4,020 |for overallocation) | | | | | |130 | |Bal. 12/31/2011 |3,890 | | | |Manufacturing Overhead Control | | (3) Materials Control (Indirect materials)| |(11) To close |1,950 | |(4) Wages Payable Control (Indirect manuf. |100 | | | |labor) | | | | |(5) Accum. Deprn.Control (Depreciation) |900 | | | |(6) Accounts Payable Control | | | | |(Miscellaneous) |400 | | | | | | | | | |550 | | | |Bal. |0 | | | Manufacturing Overhead Allocated | |(11) To close |2,080 |(7) Work-in-Process Control (Manuf. overhead | | | | |allocated) |2,080 | | | |Bal. | 0 | 4-25(35 minutes) Journal entries, T-accounts, and source documents. 1. i. Direct Materials Control 124,000 Accounts Payable Control124,000 Source Document: Purchase Invoice, Receiving Report Subsidiary Ledger: Direct Materials Record, Accounts Payable ii. Work in Process Control a 122,000 Direct Materials Control122,000Source Document: Material Requisition Records, Job Cost Record Subsidiary Ledger: Direct Materials Record, Work-in-Process Inventory Records by Jobs iii. Work in Process Control80,000 Manufacturing Overhead Control54,500 Wages Payable Control134,500 Source Document: Labor Time Sheets, Job Cost Records Subsidiary Ledger:, Manufacturing Overhead Records, Employee Labor Records, Work-in-Process Inventory Records by Jobs iv. Manufacturing Overhead Control129,500 Salaries Payable Control 20,000 Accounts Payable Control 9,500 Accumulated Depreciation Control 30,000 Rent Payable Control 70,000 Source Document: Depreciation Schedule, Rent Schedule, Maintenance wages due, Invoices for miscellaneous factory overhead items Subsidiary Ledger: Manufacturing Overhead Records v.Work in Process Control200,000 Manufacturing Overhead Allocated200,000 ($80,000 [pic] $2. 50) Source Document: Labor Time Sheets, Job Cost Record Subsidiary Ledger: Work-in-Process Inventory Records by Jobs vi. Finished Goods Control b387,000 Work in Process Control387,000 Source Document: Job Cost Record, Completed Job Cost Record Subsidiary Ledger: Work-in-Process Inventory Records by Jobs, Finished Goods Inventory Records by Jobs vii. Cost of Goods Sold c432,000 Finished Goods Control432,000 Source Document: Sales Invoice, Completed Job Cost Record Subsidiary Ledger: Finished Goods Inventory Records by Jobs viii. Manufacturing Overhead Allocated200,000Manufacturing Overhead Control ($129,500 + $54,500)184,000 Cost of Goods Sold 16,000 Source Document: Prior Journal Entries ix. Administrative Expenses 7,000 Marketing Expenses120,000 Salaries Payable Control30,000 Accounts Payable Control90,000 Accumulated Depreciation, Office Equipment 7,000 Source Document: Depreciation Schedule, Marketing Payroll Request, Invoice for Advertising, Sales Commission Schedule. Subsidiary Ledger: Employee Salary Records, Administration Cost Records, Marketing Cost Records. aMaterials used = [pic] + Purchases – [pic] [pic] b[pic] = [pic] + [pic] – [pic] [pic] cCost of goods sold = [pic] + [pic] – [pic] [pic] 2. T-accounts Direct Materials Control | |Bal. 1/1/2011 |9,000 |(2) Work-in-Process Control (Materials used) | | |(1) Accounts Payable Control (Purchases) | | |122,000 | | |124,000 | | | |Bal. 12/31/2011 |11,000 | | | Work-in-Process Control | |Bal. 1/1/2011 |6,000 |(6) Finished Goods Control (Cost of goods | | |(2) Materials Control | |manufactured) | | |(Direct materials used) |122,000 | |387,000 | |(3) Wages Payable Control (Direct manuf. labor)| | | | |(5) Manuf.Overhead Allocated |80,000 | | | | | | | | | |200,000 | | | |Bal. 12/31/2011 |21,000 | | | |Finished Goods Control | |Bal. 1/1/2011 |69,000 |(7) Cost of Goods Sold |432,000 | |(6) WIP Control | | | | |(Cost of goods manuf. ) |387,000 | | | |Bal. 2/31/2011 |24,000 | | | |Cost of Goods Sold | |(7) Finished Goods Control (Goods sold) | |(8) Manufacturing Overhead Allocated (Adjust | | | |432,000 |for overallocation) | | | | | |16,000 | | | | | | Manufacturing Overhead Control | |(3) Wages Payable Control | |(8) To close |184,000 | |(Indirect manuf. labor) |54,500 | | | |(4) Salaries Payable Control (Maintenance) | | | | |(4) Accounts Payable Control (Miscellaneous) |20,000 | | | |(4) Accum. Deprn.Control (Depreciation) | | | | |(4) Rent Payable Control (Rent) |9,500 | | | | | | | | | |30,000 | | | | | | | | | |70,000 | | | |Bal. |0 | | | |Manufacturing Overhead Allocated | |(8) To close |200,000 |(5) Work-in-Process Contr ol (Manuf. verhead | | | | |allocated) | | | | | |200,000 | | | |Bal. | 0 | 4-26(45 min. )Job costing, journal entries. Some instructors may wish to assign Problem 4-24. It demonstrates the relationships of journal entries, general ledger, subsidiary ledgers, and source documents. 1. An overview of the product-costing system is 2. Amounts in millions. (1) Materials Control |150 | | |Accounts Payable Control | |150 | |(2) Work-in-Process Control |145 | | |Materials Control | |145 | |(3) Manufacturing Department Overhead Control | 10 | | |Materials Control | |10 | |(4) Work-in-Process Control | 90 | | |Wages Payable Control | |90 | |(5) Manufacturing Department Overhead Control | 30 | | |Wages Payable Control | |30 | |(6) Manufacturing Department Overhead Control | 19 | | |Accumulated Depreciation | |19 | |(7) Manufacturing Department Overhead Control | 9 | | |Various liabilities | |9 | |(8) Work-in-Process Control | 63 | | |Manufacturing Overhead Allocated | |63 | |(9) Finished Goods Control |294 | | |Work-in-Process Control | |294 | |(10a)Cost of Goods Sold |292 | | |Finished Goods Control | |292 | |(10b) Accounts Receivable Control (or Cash ) |400 | | |Revenues | |400 | The posting of entries to T-accounts is as follows: |Materials Control | |Work-in-Process Control | |Bal 12 |(2) 145 | |Bal. |(9) 294 | | | | |(2) 145 | | | | | |(4) 90 | | | | | |(8) 63 | | |(1) 150 |(3) 10 | | | | |Bal. 7 | | | | | | | | | | | | | | |Bal. | | |Finished Goods Control | |Cost of Goods Sold | |Bal. 6 |(10a) 292 | |(10a) 292 | | |(9) 294 | | |(11) 5 | | |Bal. 8 | | | | | |Manufacturing Department | | |Overhead Control | |Manufacturing Overhead Allocated | |(3) 10 |(11) 68 | |(11) 63 |(8) 63 | |(5) 30 | | | | | |(6) 19 | | | | | |(7) 9 | | | | | Accounts Payable Control | |Wages Payable Control | | |(1) 150 | | |(4) 90 | | | | | |(5) 30 | |Accumulated Depreciation | |Various Liabilities | | |(6) 19 | | |(7) 9 | Accounts Receivable Control | |Revenues | |(10b) 400 | | | | (10b) 400 | | | | | | | The ending balance of Work-in-Process Control is $6. 3. (11) Manufacturing Overhead Allocated63 Cost of Goods Sold5 Manufacturing Department Overhead Control68 Entry posted to T-accounts in Requirement 2. 4-27(15 min. )Job costing, unit cost, ending work in progress. 1. Direct manufacturing labor rate per hour |$26 |   | |Manufacturing overhead cost allocated |$20 |   | |per manufacturing labor-hour | | | |   |Job M1 |Job M2 | |Direct manufacturing labor costs |$273,000 |$208,000 | |Direct manufacturing labor hours ($273,000[pic]$26; | 10,500 | 8,000 | |$208,000[pic]$26) | | | |Manufacturing overhead cost allocated (10,500 [pic] $20; |$210,000 |$160,000 | |8,000 [pic] $20) | | | | | | | |Job Costs May 2011 |Job M1 |Job M2 | |Direct materials |$ 78,000 |$ 51,000 | |Direct manufacturing labor | 273,000 | 208,000 | |Manufacturing overhead allocated | 210,000 | 160,000 | |Total costs |$561,000 |$419,000 | 2. |Number of pipes produced for Job M1 |1,100 |   | |Cost per pipe ($561,000 [pic]1,100) |$510 |   | 3. Finished Goods Control561,000 Work-in-Process Control 561,000 4.Rafael Company began May 2011 with no work-in-process inventory. During May, it started and finished M1. It also started M2, which is still in work-in-process inventory at the end of May. M2’s manufacturing costs up to this point, $419,000, remain as a debit balance in the Work-in-Process Inventory account at the end of May 2011. 4-28(20(30 min. ) Job costing; actual, normal, and variation from normal costing. 1. Actual direct cost rate for professional labor=$59 per professional labor-hour Actual indirect cost rate = [pic]=$42 per professional labor-hour [pic] = [pic]=$55 per professional labor-hour Budgeted indirect cost rate = [pic]=$43 per professional labor-hour |(a) |(b) |(c) | | |Actual |Normal |Variation of | | |Costing |Costing |Normal Costing | |Direct-Cost Rate |$59 |$59 |$55 | | |(Actual rate) |(Actual rate) |(Budgeted rate) | |Indirect-Cost Ra te |$42 |$43 |$43 | | |(Actual rate) |(Budgeted rate) |(Budgeted rate) | |2. |(a) |(b) |(c) | | Actual |Normal |Variation of | | |Costing |Costing |Normal Costing | |Direct Costs |$59 ( 160 = $ 9,440 |$59 ( 160 = $ 9,440 |$55 ( 160 = $ 8,800 | |Indirect Costs |$42 ( 160 = 6,720 |$43 ( 160 = 6,880 |$43 ( 160 = 6,880 | |Total Job Costs |$16,160 |$16,320 |$15,680 | All three costing systems use the actual professional labor time of 160 hours. The budgeted 150 hours for the Pierre Enterprises audit job is not used in job costing. However, Chico may have used the 150 hour number in bidding for the audit. The actual costing figure of $16,160 is less than the normal costing figure of $16,320 because the actual indirect-cost rate ($42) is less than the budgeted indirect-cost rate ($43).The normal costing figure of $16,320 is more than the variation of normal costing (based on budgeted rates for direct costs) figure of $15,680, because the actual direct-cost rate ($59) is more than the budge ted direct-cost rate ($55). Although not required, the following overview diagram summarizes Chico’s job-costing system. [pic] 4-29(20(30 min. ) Job costing; actual, normal, and variation from normal costing. 1. Actual direct cost rate for architectural labor=$92 per architectural labor-hour Actual indirect cost rate = [pic]=$50 per architectural labor-hour [pic] = [pic]=$90 per architectural labor-hour Budgeted indirect cost rate = [pic]=$54 per architectural labor-hour |(a) |(b) |(c) | | |Actual |Normal |Variation of | | |Costing |Costing |Normal Costing | |Direct-Cost Rate |$92 |$92 |$90 | | |(Actual rate) |(Actual rate) |(Budgeted rate) | |Indirect-Cost Rate |$50 |$54 |$54 | | |(Actual rate) |(Budgeted rate) |(Budgeted rate) | |2. (a) |(b) |(c) | | |Actual |Normal |Variation of | | |Costing |Costing |Normal Costing | |Direct Costs |$92 ( 250 = $23,000 |$92 ( 250 = $23,000 |$90 ( 250 = $22,500 | |Indirect Costs |$50 ( 250 = 12,500 |$54 ( 250 = 13,500 |$54 ( 250 = 13,500 | |Total Job Costs |$35,500 |$36,500 |$36,000 | All three costing systems use the actual architectural labor time of 250 hours. The budgeted 275 hours for the Champ Tower job is not used in job costing. However, Braden Brothers may have used the budgeted number of hours in bidding for the job. 30. (30 min. ) Proration of overhead. [pic] = [pic] [pic] 2. Overhead allocated = 50% [pic] Actual direct manufacturing labor cost = 50% [pic] $228,000 = $114,000 |Underallocated |= |Actual |– |Allocated plant | | | |manufacturing | |manufacturing | |overhead costs | | | |overhead | |overhead costs | | | | = $117,000 – $114,000 = $3,000 Underallocated manufacturing overhead = $3,000 3a. All underallocated manufacturing overhead is written off to cost of goods sold. Both work in process (WIP) and finished goods inventory remain unchanged. |Account |Dec. 31, 2011 |Proration of $3,000 |Dec. 31, 2011 | | |Balance |Underallocated |Balance | | |(Before Proration) |Manuf.Overhead |(After Proration) | | |(1) |(2) |(3) = (1) + (2) | |WIP |$ 50,700 |$ 0 |$ 50,700 | |Finished Goods |245,050 |0 |245,050 | |Cost of Goods Sold | 549,250 | 3,000 | 552,250 | |Total |$845,000 |$3,000 |$848,000 | 3b. Underallocated manufacturing overhead prorated based on ending balances: |Account |Dec. 31, 2011 Account |Account |Proration of $3,000 |Dec. 1, 2011 Account | | |Balance |Balance as a |Underallocated |Balance | | |(Before Proration) |Percent of Total |Manuf. Overhead |(After Proration) | | |(1) |(2) = (1) ? $845,000 |(3) = (2)[pic]$3,000 |(4) = (1) + (3) | |WIP |$ 50,700 |0. 06 |0. 06 [pic] $3,000 = $ 180 |$ 50,880 | |Finished Goods |245,050 |0. 29 |0. 29 [pic] $3,000 = 870 |245,920 | |Cost of Goods Sold | 549,250 |0. 65 |0. 5 [pic] $3,000 = 1,950 | 551,200 | |Total |$845,000 |1. 00 |$3,000 |$848,000 | 3c. Underallocated manufacturing overhead prorated based on 2011 overhead in ending balances: |Account |Dec. 31, 2011 |Allocated Manuf. |Allocated Manuf. Overhead |Proration of $3,0 00 |Dec. 31, 2011 | | |Account |Overhead in |in |Underallocated |Account | | |Balance |Dec. 31, 2011 Balance |Dec. 31, 2011 |Manuf.Overhead |Balance | | |(Before Proration) |(Before Proration) |Balance as a |(4) = (3)[pic]$3,000 |(After Proration) | | |(1) |(2) |Percent of Total | |(5) = (1) + (4) | | | | |(3) = (2) ? $114,000 | | | |WIP |$ 50,700 |$ 10,260a |0. 09 |0. 09 [pic] $3,000 = $ 270 |$ 50,970 | |Finished Goods |245,050 |29,640b |0. 26 |0. 6 [pic] $3,000 = 780 |245,830 | |Cost of Goods Sold | 549,250 | 74,100c |0. 65 |0. 65 [pic] $3,000 = 1,950 | 551,200 | |Total | $845,000 |$114,000 |1. 00 | $3,000 | $848,000 | a,b,c Overhead allocated = Direct manuf. labor cost[pic]50% = $20,520; $59,280; $148,200[pic]50% 4. Writing off all of the underallocated manufacturing overhead to Cost of Goods Sold (CGS) is usually warranted when CGS is large relative to Work-in-Process and Finished Goods Inventory and the underallocated manufacturing overhead is immaterial. Both these conditions apply in this case.ROW should write off the $3,000 underallocated manufacturing overhead to Cost of Goods Sold Account. 4-31 (20(30 min)Job costing, accounting for manufacturing overhead, budgeted rates. 1. An overview of the job-costing system is: [pic] 2. Budgeted manufacturing overhead divided by allocation base: a. Machining Department: [pic]= $52 per machine-hour b. Finishing Department: [pic]= 194% of direct manufacturing labor costs 3. Machining Department overhead, $52 ( 130 machine-hours$6,760 Finishing Department overhead, 194% of $1,100 2,134 Total manufacturing overhead allocated$8,894 4. Total costs of Job 431: Direct costs: Direct materials––Machining Department$15,500 ––Finishing Department5,000Direct manufacturing labor—Machining Department400 —Finishing Department 1,100$22,000 Indirect costs: Machining Department overhead, $52 ( 130$ 6,760 Finishing Department overhead, 194% of $1,100 2,134 8,894 Total costs$30,894 The per-u nit product cost of Job 431 is $30,894 ? 400 units = $77. 235 per unit The point of this part is (a) to get the definitions straight and (b) to underscore that overhead is allocated by multiplying the actual amount of the allocation base by the budgeted rate. 5. MachiningFinishing Manufacturing overhead incurred (actual)$11,070,000$8,236,000 Manufacturing overhead allocated 210,000 hours ( $5210,920,000 94% of $4,400,000 8,536,000 Underallocated manufacturing overhead$ 150,000 Overallocated manufacturing overhead$ 300,000 Total overallocated overhead = $300,000 – $150,000 = $150,000 6. A homogeneous cost pool is one where all costs have the same or a similar cause-and-effect or benefits-received relationship with the cost-allocation base. Fasano likely assumes that all its manufacturing overhead cost items are not homogeneous. Specifically, those in the Machining Department have a cause-and-effect relationship with machine-hours, while those in the Finishing Department have a cause-and-effect relationship with direct manufacturing labor costs.Fasano believes that the benefits of using two cost pools (more accurate product costs and better ability to manage costs) exceeds the costs of implementing a more complex system. 4-32(15(20 min. ) Service industry, job costing, law firm. 1. [pic] 2. [pic]= [pic] =[pic] =$65 per professional labor-hour Note that the budgeted professional labor-hour direct-cost rate can also be calculated by dividing total budgeted professional labor costs of $2,600,000 ($104,000 per professional ( 25 professionals) by total budgeted professional labor-hours of 40,000 (1,600 hours per professional ( 25 professionals), $2,600,000 ( 40,000 = $65 per professional labor-hour. [pic][pic]= [pic] [pic] =[pic] =$55 per professional labor-hour |4. |Richardson |Punch | |Direct costs: | | | |Professional labor, $65 ( 100; $65 ( 150 |$ 6,500 |$ 9,750 | |Indirect costs: | | | |Legal support, $55 ( 100; $55 ( 150 |5,500 |8,250 | | |$12,000 |$18, 000 | 4-33(25–30 min. Service industry, job costing, two direct- and indirect-cost categories, law firm (continuation of 4-32). Although not required, the following overview diagram is helpful to understand Keating’s job-costing system. [pic] |1. |Professional |Professional | | |Partner Labor |Associate Labor | |Budgeted compensation per professional |$ 200,000 |$80,000 | |Divided by budgeted hours of billable | | | |time per professional |? 1,600 |? ,600 | |Budgeted direct-cost rate |$125 per hour* |$50 per hour†  | *Can also be calculated as [pic]= [pic]= [pic]=$125 † Can also be calculated as [pic]= [pic]= [pic]=$ 50 |2. |General |Secretarial | | |Support |Support | |Budgeted total costs |$1,800,000 |$400,000 | |Divided by budgeted quantity of allocation base |? 40,000 hours |? ,000 hours | |Budgeted indirect cost rate |$45 per hour |$50 per hour | |3. |Richardson |Punch | |Direct costs: | | | |Professional partners, | | | |$125 ( 60 hr. ; $125 ( 30 hr. |$7,500 |$3,750 | |Professional associates, | | | |$50 ( 40 hr. ; $50 ( 120 hr. 2,000 |6,000 | |Direct costs |$ 9,500 |$ 9,750 | |Indirect costs: | | | |General support, | | | |$45 ( 100 hr. ; $45 ( 150 hr. |4,500 |6,750 | |Secretarial support, | | | |$50 ( 60 hr. ; $50 ( 30 hr. 3,000 |1,500 | |Indirect costs |7,500 |8,250 | |Total costs |$17,000 |$18,000 | |4. |Richardson |Punch | |Single direct – Single indirect | | | |(from Problem 4-32) |$12,000 |$18,000 |Multiple direct – Multiple indirect | | | |(from requirement 3 of Problem 4-33) |17,000 |18,000 | |Difference |$ 5,000 |$ 0 | | |undercosted |no change | The Richardson and Punch jobs differ in their use of resources. The Richardson job has a mix of 60% partners and 40% associates, while Punch has a mix of 20% partners and 80% associates. Thus, the Richardson job is a relatively high user of the more costly partner-related resources (both direct partner costs and indirect partner secretarial support). The Pun ch job, on the other hand, has a mix of partner and associate-related hours (1  :  4) that exactly equals the mix of partner and associate hours for the firm as a whole. The refined-costing system in Problem 4-33 increases the reported cost in Problem 4-32 for the Richardson job by 41. % (from $12,000 to $17,000) while it happens to correctly cost the Punch job. 4-34(20(25 min. ) Proration of overhead. [pic] 2. [pic]=[pic] – [pic] =$4,900,000 – $4,500,000* =$400,000 *$60 ( 75,000 actual machine-hours = $4,500,000 a. Write-off to Cost of Goods Sold | |Dec. 31, 2011 |Write-off |Dec. 31, 2011 | | |Account |of $400,000 |Account | | |Balance |Underallocated |Balance | |Account |(Before Proration) |Manufacturing (After Proration) | |(1) |(2) |Overhead |(4) = (2) + (3) | | | |(3) | | | | | | | |Work in Process |$ 750,000 |$ 0 |$ 750,000 | |Finished Goods |1,250,000 |0 |1,250,000 | |Cost of Goods Sold |8,000,000 |400,000 |8,400,000

Human cloning and Immanuel Kant Essay

Over the last decade, the advent of cloning and advancements in human genetic research have presented society with a complicated moral quandary. Debate rages as to what constitutes legitimate paths of inquiry and where to draw the line as to research that strikes many people as morally wrong. The basic question is: â€Å"how does society determine what’s right? † While, of course, questions regarding human genetic research are new, this basic question is as hold as civilization and has been addressed over and over again by history’s great philosophers. One of the most notable philosophers of the modern era is Immanuel Kant, who was born in Prussia in 1724. Kant paid a great deal of attention to formulating a complex system of morality. The following examines Kantian morals and how they might be applied to questions of human genetic research. Kant’s moral theory is predicated on the idea of the â€Å"categorical imperative,† which Kant described in the following manner, â€Å"Act only on that maxim which you can at the same time will to be a universal law†(Honderich, 1995, p. 436). By the term â€Å"maxim,† Kant meant general rules or principles upon which rational individuals act, and that these principles reflect the end that an individual has in mind in choosing actions of a certain type in given circumstances (Honderich, 1995). Therefore, maxims are principles in the following form: â€Å"When in an S-type situation, act in an A-type manner in order to attain end- E† (Honderich, 1995, p. 436). For example, a person might resolve to pay a bill as soon as it is received in order to not incur any debt. Kant tested a maxim by performing a thought experiment in which the individual asks oneself whether or not one would will a certain maxim to become universal law. As this suggests, moral law, in the philosophy of Kant, is inherent in reason itself. It is a priori, before experience (Frost, 1962). In every circumstance, Kant believed that â€Å"categorical imperative† provides a sure criterion for how to evaluate right and wrong (Frost, 1962). Kant maintained that an action that the individual can easily will that everyone should follow and perform would necessarily have to be a good act (Frost, 1962). Morality for Kant not only involved law (categorical imperative) but also the ultimate end to which action is directed. As the formulation of the concept of categorical imperative suggests, the basic problem for Kant was to discern the meaning of â€Å"right and wrong, good and bad† (Frost, 1962, p. 94). Fundamental to Kant’s thinking was the principle formulated by Rousseau that the only fundamentally good thing in the universe is the â€Å"human will governed by respect for the moral law or the consciousness of duty† (Frost, 1962, p. 94). He considered a moral act to be one that is performed out of respect for moral law, rather than for selfish gain or sympathy for others (Frost, 1962). Therefore, unlike other moral systems, Kant did not see consequences as the criteria for determining the moral value of a specific action. Rather, Kant looked toward the intentions of the individual. If an individual acts from good intentions, out of respect for moral law, his actions, are by definition, â€Å"good. † Kant argued that individuals instinctively avoid behavior, which, if performed by everyone, would create anarchy. â€Å"We know, not by reasoning, but by vivid and immediate feelings, that we must avoid behavior which, if adopted by all men, would render social life impossible† (Durant, 1961, p. 209). As this brief summary of Kantian ethics suggests, if Kant were presented with the problem of the morality of genetic research, he would, first of all, be concerned about the motivations of the researchers, their intentions in conducting such research (Frost, 1962). In the furor that was quickly generated over the successfully cloning of a sheep, â€Å"Dolly,† the usefulness of cloning technology to current medical practice was pushed aside. Nevertheless, the applications are considerable. A great deal of technical information has been left out in the sensationalism that abounded in the media. For one thing, the media did not make it clear that â€Å"Dolly† was not an identical clone (Wilson,1997). Part of everyone’s genetic material comes from the mitochondria in the cytoplasm of the egg. In the case of Dolly, only the nuclear DNA was transferred (Wilson, 1997). This may have significant information to import to scientists concerning the aging process since aging is related to acquired mutations in mitochondrial DNA (Wilson, 1997, p. 913). Furthermore, as Dolly ages, it has been noted that she is aging prematurely, which provides another source of information for scientists, but also signals that this technology is far from perfected. Research conducted on nuclear transfer into human eggs has the possibility of providing an immense amount of information that may have clinical value, by providing a model for learning more about somatic cell differentiation (Wilson, 1997, p. 913). Eventually, in due course, scientists may learn how to influence cell differentiation and this could give rise to targeted cell types (Wilson, 1997). The ability to generate tissues from different cell types could have enormous implications for transplantation. Wilson (1997) anticipates this technology utilizing skin and blood cells, and possibly even neuronal tissue that could then be used in the treatment of â€Å"injury, transplants for leukemia, and for degenerative disease such as Parkinson’s disease† (p. 913). In another area of research, the successful cloning of human growth hormone (HGH) is important for several reasons. First of all, a child that has pituitary dwarfism requires twice-weekly injections until reaching age of 20. In the past, HGH was could only be obtained by removal of human pituitary tissue at autopsy. To treat one child with pituitary dwarfism using previous methods required obtaining over a thousand pituitaries (Emery and Malcolm, 1995, p. 165). Not only has it been difficult in the past to produce enough HGH to successfully provide treatment to all the children who needed it, but small amounts of contaminating virus caused some of the children treated to develop Creutzfeldt-Jacob disease (Emery and Malcolm, 1995, p. 165). Cloning technology, which permits HGH to be produced artificially, has provided a readily available supply of HGH, which-in turn-has allowed the application of HGH in other treatments. For example, it has been discovered that HGH can be used to speed up the healing process for bone fractures (Emery and Malcolm, 1995). This is been particularly beneficial in treating the elderly (Emery and Malcolm, 1995). As this brief summary of scientific research being conducted into cloning and genetic research indicates, there are enormous benefits to be reaped from this new and controversial technology. Kant would undoubtedly approve of research that so obvious benefits humanity and society. What people seem to fear, and what would undoubtedly be wrong by any moral system, are nightmare scenarios propagated by the media and Hollywood. Images of clones being used simply as â€Å"spare parts† to extend the life of the rich, for example, has been dramatized in film. This sort of misuse of technology would constitute a threat to the social system and, therefore, would not pass Kant’s categorical imperative test. In other words, if everyone were cloned, it would significantly lower the way that human life is valued in our society. Also, the idea of human embryos being created and destroyed simply to further genetic research objectives is simply abhorrent on an instinctive level. Therefore, while it! can be seen that this technology needs to be carefully controlled and supervised in regards to moral issues, it should not be totally banned either, as it also has the power to benefit society to a great degree.

Business Economics for De-Unionization

In the entire Article, the author discusses about the increasing disparity between the upper- and lower-half of the society. The major narrator of the piece is Robert Reich who is primary illustrating the America’s social classes. The metaphor is utilized in explicating how the economy of America is fluctuating for the rich and poor. It is alluded to a boat that everyone is in whereby 1 is rapidly sinking 2 nd one sinking more gradually while the 3 rd steadily rising. The three social classes are referred to here including lower-, middle- and upper-class. The lower-class keeps going poorer due to job loss, increase automation alongside petition from other economies which are enthusiastic to work for less money. The middle-class is somewhat staying unchanged but remain still diminishing economically. This is due to machinery that is substituting employees, lower wages due to the surged social security drawn by the government from the retirees, alongside the stiff petition from immigrant searching for jobs. The upper-class does well and ascending past everyone else since they are the people who are thinking regarding selling their notions to overseas nations who could never think of them independently. The topic is anchored on the Robert Reich as both eye opener and simultaneously a cautionary for the society about the unemployment which the society shall be facing and is presently facing as a result of the lack of education and technology. It precisely enunciates that routine producers’ jobs and in-person servers have extinguished wholly as the contemporary techniques have substituted them. Reich posited that strictly individuals whose jobs remain on the upsurge are symbol analysts. The symbol analysts remain the actual problem solvers. The symbol analysts’ skills remain extremely in the demand globally since they are the people who initially examine the problem and subsequently solve the problem (Reich 15). The same unemployment problem alongside the global recession that has left workers focusing on workers not solely with skills of specialist but further a vaster array of knowledge and skills. The report remains a clear reflection of what is required by the modern day employers, but the question remains whether it is universities or learners individually that fail to cope with the needs of modern world that is marred with advancement in technology alongside critical thinking. The modern day generation alongside reasons for huge drop in employment are truly missing something critical. The opposition holds that the job losses in America is caused not by the immigrants into America but due to technological development and globalization. The opposition acknowledges that the main challenge is the employment crisis that the millennials shall be facing as a result of educational challenges, either in schools or in learners, and the similar period the ascending symbol analysts demand (Spangler 472). This is an eye-openers for millennials since the opposition has precisely illustrated all the challenges facing millennials and shall be facing in the ing years about employment. The main strength in my opponent claim is that it is true that globalization and technological advancement have greatly led to a laying off of many workers. On the other hand, the opponent fails to appreciate that as technology is advancing, many jobs are destroyed and through innovation, many new jobs are created and many firms upskill their old employees rather than retrenching which would indeed retain workers and even employ new ones. The Robert Reich Article remains wholly true. There is a widening gap between the rich and the poor. This disparity/gap is increasing blooming visibly as months turn to years. The rich are increasingly b ing richer since they are the people taking over the lower-class jobs and doing whatever they wish with them. Often, the upper-class fire all the employees and place in automatic machinery since it is increasingly effective and cost really less. The upper-class have further put a surge on immigrants over the previous ten years and it is still ascending today. The immigrants e to America and require jobs to support both families and themselves. This is the reason there is increasing jobs less in the US. If the American economy keeps up with this declining trend, there will people trapped in absolute poverty and those who are filthy rich. Accordingly many of the rich individuals shall refute to assist the poor, even where they are increasingly capable of helping the poor.   Ã‚  Ã‚   Based on my claim, the millennials’ future is analyzed with respect to unemployment problems the millennials will face as a result of globalization. The advancement in technology and entire world â€Å"going global† remains significant.   Unlike my claim, that I hold also contributes to the American job losses, I see sense in the opponent claim that attributes the job loss to the shift of jobs from the developed to developing economies established by the huge recession in the developed-economies to have triggered by the advancement in technology and globalization.    It is true that both claims remain cognizant that the main challenge is the unemployment. Whereas I attributed the lack of employment among the Americans to the petition arising from the immigrants who seek the same jobs to support themselves and families, I am in agreement with my opponent’s claim that globalization and advancement in technology have also played a significant role (Stiglitz 133). It is true that advancement in technology has made workers stay in touch with the entire globe with the assistance of certain optical wires alongside satellites and hence began hiring employees who were willing and ready to work for the lower salaries. In the same manner, introduction of novel labor-saving machineries like ATMs and robotized vending accounts for job losses. Both opposing claims have a sense in arguments and hence there is a mon ground. Both technological advancement and globalization have indeed led to job loses while at the same time Americans have lost jobs due to influx of immigrants. Reich, Robert B. "Why the rich are getting richer and the poor, poorer." The way class works: Readings on school, family, and the economy (2008): 13-24. Spangler, Eve. "When Good Jobs Go Bad: Globalization, De-Unionization, and Declining Job Quality in the North American Auto Industry." (2017): 471-473. Stiglitz, Joseph E. "The overselling of globalization." Business Economics 52.3 (2017): 129-137.