Russia Essay Example | Topics and Well Written Essays - 1250 words

Russia - Essay Example This is due to the challenges people encountered during communism, which made numerous people end up trusting more their families based on the support they received like combining their resources to survive. Hence, currently people seem to prefer trusting more close families. From then to date the state has significantly grown especially with the inception of Russian Federation, which emerged after the cessation of Soviet Union. This growth has been attributed to exclusively reliance on resources especially oil and gas (whose reserves are in Western Siberia), hence giving the state unequaled power not only economically but also politically in the region. For instance, 2/3 of the state’s oil and gas export head to the European Union region thus comprising 24% of the Russia’s GDP. Oil and gas transportation is merely by pipelines as well as physical tanks by respective firms. The economy of Russian federation has been through immense progress, which has always had many se tbacks. Due to rising energy prices and the radiant global economy, the country has benefited greatly and been through higher growth rates before 2008’s great recession (Hanouz & Prazdnichnykh 3). The Western sanction issues during 2014 invasion into Ukraine have also been a contributing factor. During these years, the country faced not only price drops but also low demands and financial sector almost collapsing. Despite all these, the government countered its issues and challenges mainly through stimulus spending. The country has not really grown at the same pace as its competitor despite the availability of many resources as well as educated population but this also as a long term goal, shows the potential Russia has to compete with the super powers. Since the crumpling of Soviet Union, Russia has been changing notably from a centrally planned and globally isolated economy to a more of globally integrated and market based economy. In 1900s during their economic reformations, most of

Whirlpool Corporation Essay Example | Topics and Well Written Essays - 1750 words

Whirlpool Corporation - Essay Example Better sourcing or material management was becoming critical. 3. Market: The market was demanding and continuous to demand low cost and better products for the house hold sector. They looked for a better product but that had to come at a price lesser than the earlier one with lesser features. These key reasons made Whirlpool look for an enterprise wide automation. The material sourcing issues were reflected in the price of the components and also in the cost of the raw materials which in turn lent itself to an increase in the product price. This increase in the component and the raw material cost also wanted the products to be at the same price level or lower price level for end user customers. If this has to happen the operating cost has to come down and the total cost of production needs to get reduced. This could happen only if there is an increased quantities getting produced for the same inputs in terms of people and other consumables. In addition to these, the company also has to keep its new innovations always rolling out. Unless there are new ones coming up in the market, the company would lose its pre-eminence and would start trailing others as market leaders. This also the company cannot afford to happen. Cost reduction is one of the major issues that the company was fighting against. In order to bring down the cost of production, it is important that the company follows the latest material management techniques and also take recourse to global sourcing of components from the places that are cheaper vis-Ã  -vis the current suppliers. The company therefore, had to source material from Asian countries and these vendors had to be coordinated and monitored to ensure Kanban pull working on the stock systems already in place. Therefore, a system that would unite the materials management in US or European factories and that of the vendor companies located

The Globalization of Service Marketing Essay Example for Free

The Globalization of Service Marketing Essay Nowadays, the globalization pushes the service marketing into the fierce competition. Furthermore ,we can not avoid it ,because it influence every aspect of our lives. So many people think whether it is an opportunity or a challenge in this fierce competition? How Can they take use of the service to dominate the marketplace. This essay will discuss how does the globalization affect the service marketing, how do the companies manage the service in the globalization? The overview There is no doubt that the rapid progress in science and technology improve the quality of the products. but because of the sharing technology, there is not much difference between the products. And with the change of demand,the service marketing are playing an important role in the market . Furthermore , with the development of the globalization,no one can say that goods can live without service. The basically and most important is that the services are driving the development of the economy and provide jobs for many people. For example, in the USA, services now services now accounted for 74 percent of US gross domestic products. And in 1970s service jobs accounted for 55 percent of all jobs, today it account for 82 percent of total employment . The idea in tangible The impact of globalization on service marketing is very obvious ,such as Wall Mart ? Carrefour ? McDonald ? Kentucky , they are affected by the globalization. Now they open the branches all over the world, in our Mian Yang we also can see their branches. So their service around the world Therefore, other companies should know how to manage the service in the globalization, and improve the quality of service to meet the customer. Firstly, the company must know that the globalization of service marketing brings risks and opportunities. They must to be familiar with the new market. furthermore,In order to satisfy the customers, maintain the customers and their loyalty , the company must identify the potential customers and their different services demand, especially those 20% customers which can bring 80% of a company’s profits. Secondly ,different people have different demand,different people from different places have different culture . That is to say, the company must develop a service delivery system that standardizes the service offering. Thirdly, the company will be given greater in the use of promotional techniques to development the new market, so the advertisement and the internet can do it. The ads as a medium can give information with clear and definite objectives. It also can transmit message about the products. Above all ,the ads create a good image of the company and attract the customers to buy products. As for the internet, it always plays an important role in the service. The internet provides a very convenient way in the service marketing, No matter where and when, the internet service marketing can do it, it make the service more efficiency . For example, Tao Bao is good online shopping platform, we are glad to buy on the Tao Bao . The Payoff It is obviously that the globalization affects the service marketing greatly. The companies focus on the technical in the product, it can promote the sales, at the same time, it also improves the quality of service. And for the service delivery system, it meet different demands, make the customers feel well, in the long run ,those customers is our honest customers . he ad and internet is very important two parts in the service ,it make the service more convenient and efficiency. The customer satisfaction become the key in industry, and all the companies have to know, it is more important to focus on the customers, and the company must pay more attention to the quality control? technical resources, The Close Economic globalization lead to the service marketing becomes a great global market; the most important is that the service marketing has a huge market with big potential and wide prospect. The companies do not only care about the products they sell, but also concern about the customers, and they must care about the whole service process. All companies should size the opportunity of globalization to make use the technical resources to improve the quality of product. Besides the ad and internet must use for improving the image of company. In a word, the globalization influences the whole service process. The globalization makes the companies open their branches from here and there, the product spread the global, so the service around the world too.

Environmentalism in US Politics

Environmentalism in US Politics Environmentalist Gets Down to Earth Over the past few years, environmentalists had yet to find accountable successes in their campaigns, as people seemingly refused to listen to their plans and ideas. For example, environmentalists constantly alert customers about the contents of common goods, yet despite of the excessive and uncontrolled amount of fat and calories that are unhealthy, there is tendency for the customers to ignore the messages. Or the fact that their campaigns to restrict carbon emissions have failed miserably in 2010, regardless of the obvious warning signs of global warming. Challenged with difficulties, environmentalist’s groups are revolutionizing themselves to the new circumstances. Executives have been changed frequently over the past 15 months. Instead of focusing on global problems that do not seem to attract attentions, or that are too difficult to solve at the moment, environmentalists are sharpening their focus into a more transitional and local anxieties. On top of that, they will als o attempt to draw attention to the relationship between lobbyists and elections. Their most noticeable success, which was the discontinuation of Keystone XL pipeline, is being propelled forward again this year by its defenders in the Congress. Things don’t stop there. With the oil spill in the Gulf of Mexico early in 2010, in addition to the defeat to limit carbon emissions globally, the only objective left to save them from collapsing is to carry on with suspending the scheduled pipeline. In order for their organizations to remain practical, they need young leaders that could effectively communicate with younger generations. One example is Mr. McKibben, founder of 350.org, who successfully conveyed the group’s message to the rest of the populations through the means of mass communications, noticeably the internet, and mass protests. Mr. McKibben commented that young leaders often dismisses losses and are more eager to fight even though lucks aren’t in their fav ors. Michael Brune is one of the leaders that are most praised by Mr.McKibben. Michael Brune became the executive director of Sierra’s Club at the age of 38. He does not concentrate on global warming on a international scale, however, cleverly on a much more local scale. For example, he would point out how local coal plant is contributing to asthma attacks in children, which would raise concerns from local parents, and in effect, supporters for his campaigns. Hydraulic fracturing is also one problem that the local has to face. Strictly speaking, natural gas is one of the cleanest source of energy (or as environmentalists call it, â€Å"greenest†). However, it is not natural gas that is causing problems, but the way it is being collected by companies. Primitive regulations around hydraulic fracturing is producing unsuitable ways to collect gas from underground, which is poisoning the underground water supplies. Politically speaking, environmentalists are predominantly Democrats. However, recent voting expenditures on both parties are quite extraordinary and excessive. Hence, this creates distrusts within the people as succeeded candidates are not obliged to complete their promises. Therefore, seeing how both political parties are sailing towards profits instead common good, people are often divided. Consequently, the goal of environmentalists is to unite people to strive for a more prosperous future for humanity. Drilling Critics Face a Divide Over the Goal of Their Fight Hydraulic fracturing or fracking is a controversial matter at the present. It is to extract natural gas by drilling and infusing fluid underground at high pressure. Easier said than done. As mentioned before, natural gas is one of the â€Å"greenest† source of energy available. It is the unregulated ways of extracting the mentioned source that is creating concerns with local and national organizations. Even though there are solutions to the problems, people are undecided as to completely ban the method or enforce on stricter regulations. Of course, there are always two sides to the stories. Needless to say, there are jobs that are involved with fracking, and by banning it, there will be unpredicted consequences. Regulations are similar to laws, which are often different from state to state. It will be very difficult to one simple solution to fix it all. Such that fracking is economically potent, it is emerging as an industry, and a profitable one at that. Landowners are eager to participate to benefit from the process. But the more people come to understand about fracking and how it is practiced, it is difficult to state whether the whole process can be safely handled. Wes Gillingham, program director for Catskill Mountainkeeper, predicted it, â€Å"a disaster for New York State.† The issue is a rather complicated one, such that, the State Department of Environmental Conservation has received 20,800 comments from citizens, which forthrightly exceeds any issues that have ever surfaced. The problem here is the fact that complete banning of the practice is not possible, as any profitable businesses will continue to exist, however, to what extent the government should regulate is questionable. Even though the oppositions see the practice as unethical and endangering to neighborhood, its supporters regard fracking as a cleaner source of energy, which would be on par with renewable sources of energy, such as wind and solar power. Environmentalistâ€℠¢s groups themselves are divided, as some regard it as safe and secure while others completely disagree. A possible solution has arisen is to suspend fracking until further studies are completed. The obvious fact is  people do not wish fracking to continue at its state, which is profitably harmful. Chapter 5 Year 2000, Democratic candidate Al Gore received more than 550,000 more votes, but Electoral College decided who win the presidency by a majority. The voting was so that the Florida Electoral College could have given the majority to either George Bush or Al Gore as the next President. It is obvious that when Florida State received too much attention, there will be briberies and cheatings involved. The cheatings could not possibly come from the two candidates themselves, but there were corporations interested in one specific candidate winning. That was the reason why Gore sued Floridas State from having counted the votes manually, and possibly cheated along the way. Gore demanded for a recount, however, Bush prevented from happening. In the end, George Bush won the presidency, yet, it was not clear whether he won by having majority in 537 total votes in Florida or merely on vote on the Supreme Court. Year 2004, Bush easily dominated his opponent. He received 3,500,000 more votes nationwide, and also won a majority of the popular vote in the Electoral College. Bushs victory did not reflect only on his personal achievement, but also on the Republicans new domination. Along with Republicans winning presidency by having both majority in the popular vote and Electoral College, they have dominated the Democratic Party, by having more majorities in the House of Representatives and in the Senate. It is surprising that the United States has one of the lowest rates in turnout in comparison to other industrialized democracies. The rates of turnout reflects upon citizens will of participation and citizens view of the political parties. The United States is a two-party system, whereas other democratic countries have multiparty. The reason is that Democratic and Republican parties have dominated the political systems for a lengthy period of time, and the introduction of any political parties is deemed unnecessary, hence uncovered by any mass media communication, thus, unnoticed by the public. This is noticeably one effect of the media upon the political system. The low rate of turnout indicates the skepticism of the citizens upon the political parties, where they dont trust any of the parties. Some will have to choose the lesser evil of the two, while others decide not to participate. In addition, the turnout was severely suppressed in the South, as voters were required to pay a hi gh fee to vote, took a literacy test as well as a good character test. That was why seventy five percentages of the blacks and poor were eliminated from voting. Political scientist Walter Burnham states that working class citizens dont vote as much the the upper class in society. This can explain by the fact that the working class cannot often sacrifice their time to vote, as voting time is synced with working hours. In addition, their votes dont always matter as candidates can win by having majority in the Electoral College. The upper class citizens vote more often than lower class citizens and they have more chance to influence the outcome through donations to political campaigns. Interestingly enough, the authors of the Constitution never believed in political parties. They condemned political parties as a danger to liberty, and hoped for the government to constantly check and balance the parties. Because of our two party system, there will be diverse and conflicting interests wi thin the same group. For example, in the past, there were people from the Democratic Party that supported the integration and those opposed it. The political parties often ignored the conflicts or any concerns from the citizens, since they will have no choice but to vote for one of the party. The political parties will only response to issues that are beneficial to the elites, since they are the biggest supporters and donors. In a way, the two system party fail to reflect upon the needs of the majority and satisfies a small portion of society. The truth remains that candidates need a lot of money for their political campaigns and ads. For example, in 2004, 91% of the Senate and 96 % of the House of Representatives won their seats because they spent more than their opponents. Candidates dont often have the money readily available, however, these money can come from donations from corporations and firms. These companies often regard these expenditures as investment for their political influence. The truth is, they are. Representative Michael Oxley put it as, it would be difficult to ask people to contribute, and not let us know their opinion. It is hard to conversate with politicians, but with a little bit of money, they might hear us better. It is of course illegal to directly give cash to politicians for political decision, however, contributions are elusive and indirect, thus, making them legal. The benefits of donations can include the motivation for legislator to support a bill and recommendation of amendments to a bill . Seeing how corrosive and elusive these contributions are, the Federal Election Campaign Act (FECA) was introduced in 1974 to control contributions and spending. All receipts and disbursement are required to be made public. But on the other hand, the Political Action Committees was also formed to combat with the FECA. There are basically two kinds of contributions, soft and hard money. Hard money has to be reported, yet, soft money, which is meant for educational and building party purposes, is unregulated and unlimited. In fact, 3/4 of the soft money come from business executives. The solution from the FECA was to increase the amount of hard money contributions per person, from $1000 to $2000. Even though money does not guarantee victory, it means one has not spent enough money to achieve what they desired. Political participation in the U.S is namely open, one can know for certain that it is not free.

Sonnets 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16, and 17 :: Sonnet essays

Sonnets 1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16, and 17 The first 17 sonnets are addressed to a young man of exceptional beauty who is encouraged to father children. What is striking about this series is that there are exactly 17 sonnets that are all centred on encouraging the young man to marry and father children. Seventeen is an unusual and distinctive number that seems to indicate its own significance. The content of the sonnets shows no evidence of input to them from outside of the author during their development: no questions are answered, there is no change of direction in response to any feedback from the subject, they appear to be a preset series issued together. The deliberate intent of these sonnets and the fact that a sonnet itself conforms to regular numbering schemes also suggests that the series containing precisely 17 is not accidental. The encouragement of a person to marry and father children is an unusual theme, if not unique, in the world of Elizabethan poetry. That the author himself should have been personally motivated to invest such time and effort and have the temerity to do such a thing strikes me as extremely unlikely. In an age of commissioned poetic works, this series of sonnets being commissioned from the author by another party seems to be the most plausible scenario by which such a poetic work could only come about. The series betrays a lack of understanding of why the subject fails to marry and have children of his own accord: Sonnet 3 asks what fair woman would not welcome the opportunity of being the subject's wife: "For where is she so fair whose uneared womb Disdains the tillage of thy husbandry?" and what man would willingly fail to leave children: "Or who is he so fond will be the tomb Of his self-love to stop posterity?" Sonnet 4 asks why the subject does not continue his legacy of beauty: "Unthrifty loveliness, why dost thou spend Upon thyself thy beauty's legacy?" and why he fails to pass on his beauty in the form of children: "Then, beauteous niggard, why dost thou abuse The bounteous largess given thee to give?" and what he will leave behind him when has died:

Anthem for Doomed Youth by Wilfred Owen Essay -- Anthem Doomed Youth W

Anthem for Doomed Youth by Wilfred Owen The sonnet ‘Anthem for Doomed Youth’, by Wilfred Owen, criticizes war. The speaker is Wilfred Owen, whose tone is first bitter, angry and ironic. Then it’s filled with intense sadness and an endless feeling of emptiness. The poet uses poetic techniques such as diction, imagery, and sound to convey his idea. The title, ‘Anthem for Doomed Youth’, gives the first impression of the poem. An ‘anthem’, is a song of praise, perhaps sacred, so we get the impression that the poem might me about something religious or joyous. However, the anthem is for ‘Doomed Youth’ which is obviously negative. The title basically summarizes what the poem is; a mixture of thoughts related to religion and death, irony, and cynicism. The poem doesn’t slowly start to focus on the point he’s making: there is an immediacy of war with the usage of present tense. Plus, it starts with a rhetorical question. With the rhetorical questions, he says that the dead soldiers, or ‘cattle’, die insignificantly, for there are no ‘passing-bells’ for them. Furthermore, he is emphasizing the vast number of the dead by meaning that there wouldn’t be enough bells, or time to ring the bells for each soldier. The speaker continues by answering his own question with lines filled with onomatopoeia, personification, assonance, and alliteration: the ‘only’ substitute for the bells are the bullets fired during war by the ‘stuttering rifles’ and the ‘guns’ with the ‘monstrous anger’. This type of beginning sets out a solid foundation for the poem: it already gives the reader a strong idea of what the intentions of the poet are. The poem continues the theme of negativity when the speaker criticizes the use of religion throughout war, and possibly questions God. By using things as sacred things as ‘prayers’, ‘bells’ and ‘choirs’ as tools to mourn the insignificant ‘cattle’, Owen says that the dead would only be mocked. The vast number of dead ‘cattle’ is described by Own when he says that there aren’t enough ‘candles’ to ‘speed them all’, and there aren’t any official funerals, but they can only be mourned by releasing their ‘holy glimmers of good-byes’ and that ‘the pallor of girls brows shall be their pall’. The vast number of dead ‘cattle’ is described by Own when he says that there aren’t enough ‘candles’ to ‘speed them all’, and there... ...d ‘shells’. All of these words are in the octet: there is no presence of war vocabulary in the second part of the poem. The religion vocabulary on the other hand is present throughout the poem. In the octet, it is used to mock religion, whereas in the sestet, they are used in a ‘holier’ sense. Throughout the poem, there is an obvious presence of negativity. Besides the actual content, there is a lot of special diction used to reinforce the negativity: first in the title ‘Anthem for Doomed youth’. The theme of negativity continues with the question used in the beginning of both the octet and the sestet, and questions give a sense of uncertainty, doubtlessness, and negativity, but also, Owen uses them to make a point. This theme is continued with negative and pessimistic words such as only, no, nor, demented, wailing, sad, mourning, not, and slow. Some of these words have been used more then once and often used closely, which strengthens the effect. In the end, the poem ‘Anthem for Doomed Youth’, by Wilfred Owen, criticizes war, and the use of religion to mourn the dead soldiers, while pitying the mourners. To strengthen his views, he uses strong diction, imagery and sound.

Managerial Accounting Quiz 1 Essay

Chapters 1 and 2 10 Points 1. Complete the answer sheet below by placing an â€Å"X† under each heading that identifies the cost involved. The â€Å"Xs† can be placed under more than one heading for a single cost. (5 Points) Variable Cost Fixed Cost Direct Materials Direct Labor Manufactu ring Overhead Period Cost Materials costs X X Production line workers wages X X Production Equipment rental X X Factory Building depreciation X X Advertising costs X X 2. A partial listing of costs incurred at Rust Corporation during August appears below: Purchases of raw materials†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ $ 135,000 Direct labor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 73,000 Factory Utilities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 11,000 Sales Commissions†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 69,000 Administrative Salaries†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 101,000 Indirect Labor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 89,000 Depreciation of Production Equipment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 18,000 Indirect Materials†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 10,000 Depreciation of Office Copy Machine†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5,000 Raw materials inventory, beginning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 97,000 Raw materials inventory, ending†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 84,000 Work in process inventory, beginning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 39,000 Work in process inventory, ending†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 52,000 Finished goods inventory, beginning†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 106,000 Finished goods inventory, ending†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 71,000 a. Prepare a Schedule of Cost of Goods Manufactured in good form. (3 Points) Direct Materials: Beginning raw materials inventory: $97,000 Add: Purchase of raw materials 135,000 Raw materials available for use 232,000 Deduct: Ending raw materials inventory 84,000 Raw materials used in production $148,000 Direct Labor: 73,000 Manufacturing Overhead: 118,000 Total manufacturing cost: 339,000 Add: Beginning work in process inventory 39,000 378,000 Deduct: Ending work in process inventory 52,000 Cost of goods manufactured $326,000 b. Compute the Cost of Goods Sold. (2 Points) Finished goods inventory, beginning$106,000 Add: Cost of goods manufactured 326,000 Goods available for sale 432,000 Deduct: Finished goods inventory, ending 71,000 Cost of goods sold $361,000 Managerial Acctg Quiz 2 – Fall 2012 NAME__ _______________________ Chapters 3 and 4 10 Points 1. Pence Company is a manufacturing firm that uses job-order costing. The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 44,000 machine hours and would incur $176,000 in manufacturing overhead cost. During the year the following actual costs and hours were incurred: Job A Job B Job C Job D Direct Materials$ 135,000 $ 129,000 $ 98,000 $ 103,000 Direct Labor $ 80,000 $ 85,000 $ 63,000 $ 68,000 Machine Hours 12,000 13,000 8,000 14,000 Number of Units 50 35 60 Indirect Materials used: $ 34,000 Indirect Labor: $ 63,000 Selling Costs: $134,000 Factory Utility Costs: $ 14,000 Factory Depreciation: $114,000 Administrative Salaries $157,000 Required: (5 points) a. Compute the predetermined overhead rate 176000/44000= 4.00 b. Compute the amount of overhead applied to each job. A.12000*4= 48000 B. 13000*4= 52000 C. 8000*4= 32000 D. 14000*4= 56000 c. Assuming that Jobs A, B, and D were completed during the year, compute the total cost charged to each job and the unit cost of the product produced. A.5660 B.8543 D. 3983 d. Compute the balance in Work In Process at the end of the year. 161,000 e. Compute the amount of overhead under or overapplied. 176000-161000= 15000 f. Assuming the amount is not material, write the journal entry required to close the manufacturing overhead account at the end of the year. Work in Process 161,000 Manufacturing Overhead161,000 2. Elton Company uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in Department M. Conversion costs were 75% complete with respect to the 4,000 units in work in process at May 1 and 50% complete with respect to the 6,000 units in work in process at May 31. During May, 12,000 units were completed and transferred to the next department. An analysis of the costs relating to work in process at May 1 and to production activity for May follows: Materials Conversion Work in process 5/1 $26,200 $19,370 Costs added during May $26,900 $29,380 Required: Using the weighted-average method, determine the Equivalent Units of Production for Materials and Conversion Costs, the Cost per Equivalent Unit for Material and Conversion Cost, and the total product cost per Equivalent Unit. (5 Points) Equivalent units of production Materials Conversion Transferred to next department†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 12,000 12,000 Ending work in process (materials: 6,000 units Ãâ€" 100% complete; conversion: 6,000 units Ãâ€" 50% complete)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6,000 3,000 Equivalent units of production†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18,000 15,000 Cost per Equivalent Unit Materials Conversion Total Cost of beginning work in process†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 26,200 19,370 Cost added during the period†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 26,900 29,380 Total cost (a)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 53,100 48,750 Equivalent units of production (b)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18,000 15,000 Cost per equivalent unit, (a) à · (b)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2.95 3.25 Total: $6.20