A Job Costing System Accumulates Economics Essay

A Job Costing System Accumulates Economics Essay Chapter 14 A job-costing system accumulates and analyzes costs separately for each product or small batches of products. Examples of firms that use job-costing systems include law firms and firms that build custom houses. A process-costing system accumulates and analyzes costs by each process (or a department) rather than by each job. Examples of firms that use process-costing systems include steel mills and paper companies. Direct materials and direct labor are traced, and overhead is allocated. Work in process inventory is the inventory of unfinished products at the start of a period. Cost of goods manufactured is the cost of items finished and transferred from work in process inventory to finished goods inventory. Cost of goods sold is the cost of products sold in a period. It is the cost of items transferred from finished goods inventory to the income statement. A predetermined overhead rate equals expected overhead costs for the period divided by the expected activity level. Fi rms use predetermined overhead rates because actual overhead costs and activity volumes frequently fluctuate. A normal-costing system is a job-costing system that uses a predetermined overhead rate. Underapplied overhead means that the overhead applied to jobs is smaller than the amount actually spent on overhead. Overapplied overhead means that the overhead applied to jobs exceeds the amount spent on overhead. False – if a firm has underapplied overhead, the actual rate must have exceeded the predetermined rate. (1) correct rates are year end, (2) write off to cost of goods sold, and (3) prorate among inventory accounts and cost of goods sold. The adjustment will increase cost of goods sold and, in turn, decrease net income. The proration method allocates the under- or overapplied overhead to WIP inventory, FG inventory, and cost of goods sold in proportion to their unadjusted ending balances. Three accounts will be affected: (1) WIP, (2) FG, and (3) COGS. Income will be hig her under the proration method because some of the adjustment will be to the inventory account. Discussion Questions Job shops and process shops differ considerably in the extent to which we can trace costs to individual units and jobs. A pure job shop makes custom products. Each unit is a separate job and is unique. It is therefore possible to trace many costs directly to each job. However, in process shops, it is not possible to trace most costs to individual units. Rather, we can trace the costs, even for direct materials and direct labor, only at the process or departmental level. Yes. Each patient’s care may be viewed as a job. Many of the costs, including the costs of nurse care, attending physician’s time, medicines and drugs, room occupancy can be directly traced to the patient. Some indirect costs may still have to be allocated. However, such a system also has elements of process costing in that we might use pre-determined rates (e.g., $40 per hour of nursing or $100 per visit by a doctor) to determine costs rather than use actual costs. Business consulting firms are likely to have job-costing like systems. Fast food restaurants like McDonald’s have more of process costing-type environment.

Gender roles and Marriage Thesis Example | Topics and Well Written Essays - 1250 words

Gender roles and Marriage - Thesis Example While sex refers to the biological classification into male and female categories, gender indicates social classification of the masculine and feminine attributes. On the other hand identity depends on ones self realization about his or her sexual category. In the paper two stories have been taken up for study – ‘The Secret Life of Walter Mitty’ by James Thurber and ‘The Story of an Hour’ by Kate Chopin. In the former work, Mr. Mitty tries to build his masculine identity through his regular daydreams and in the second work, Mrs. Mallard tries to gain freedom from the repressive bond of marriage and a kind of sexual freedom is experienced after she hears the news of her husband’s death. In fact both these characters of opposite gender tries to gain freedom in their own ways. Mr. Walter Mitty attempts to gain freedom from the influence of his dominating wife who apparently always has the last word. The institution of marriage can be repressive ow ing to the influence of gender roles. ‘The Story of An Hour’ by the American writer Kate Chopin talks about the central character Mrs. Mallard’s reaction and mental transformation on hearing the news of her husband’s death and the mix of emotions experienced by the frail woman. Widowhood does cause some sorrow but within minutes it brings forth a new opportunity and light to the journey of life. The transformation in thoughts and a feeling of some kind of freedom gradually replaces the initial feeling of loss. In this case the freedom enjoyed within shows how repressive the marriage could be. This is not really written to criticize the character of Mr. Mallard as a repressive husband but through the reactions of his wife, it mocks this supposedly happy union. The open window, the comfortable chair, ‘delicious breath of rain’ and the tops of the trees that were ‘all aquiver with the new spring life’, all indicate an underlying feeling of regeneration or rebirth and a m ind which is open to the change and the new life that will belong solely to her. The open window through which she stares at the sky represents a glance at life through the eye of freedom. Mrs. Mallard was ‘young, with a fair, calm face, whose lines bespoke repression and even a certain strength’; this description has been used as a tool to highlight the change that was taking place within. She was gaining her strength from the expectation of a new life approaching her. These new oncoming years have been portrayed like â€Å"creeping out of the sky, reaching toward her through the sounds, the scents, the color that filled the air†. (Chopin, 1894) Chopin’s story bears significance to The Yellow Wallpaper by Charlotte Gilman where the wife finally protests against her husband who does not want her to write and always asks her to rest and sleep like a sick woman. Again, there are sexual overtones in the story that cannot be overlooked. The initial ‘stor m of grief’ is almost indicative of a sexual urge or release, which goes hand in hand with the term ‘wild abandonment’. The quivering of the trees is analogous with the thighs that aquiver with sexual anticipation. The term ‘haunted’ signifies that she was craving for it from within and therefore this freedom meant physical or sexual freedom as well (Eggins, 2004, p.39) She also prays that her life may be long. This shows the immense joy experienced. The expression in her eye has also changed from a dull glare to a look of ‘feverish triumph’. As she came down the stairs into the living room, being supported by her sister, Mr.

Technology and being a nurse educator Assignment

Technology and being a nurse educator - Assignment Example The field of nursing education needs a nurse educator that is competent, with unique application of nursing knowledge as well as responds to the knowledge evolution. Nursing education evolves from simple, traditional classroom teaching to complicated, online learning, use of informatics, and virtual simulations ( Bonnel, & Smith, 2010, p. 3). Along with this evolution is the need for nursing educators who can embrace technology and use it appropriately to meet the ever-changing needs of nurses, educators, students, patients, and society. Effects of Technology to a Nurse Educator The integration of technology in the field of nursing education affects nurse educators positively and negatively. The positive effects include the nurse educators’ enhancement of teaching opportunities, improved access to teaching materials saving both time and cost, provides educational options or strategies of teaching (used of printout, electronic sources, classroom interaction etc.), presents educ ational materials more challenging, knowledgeable, and presentable, promotes clinical safety and gain efficiency in teaching and learning, and guides evidenced-based practice. On the other hand, one possible negative effect noted is the difficulty encountered by nursing educators to adapt to technological advancements resulting in poor teaching and learning outcome.