Lectures - Lecture1(Chapter1) 29/08/201015:37:00...

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Lecture 1 (Chapter 1) 29/08/2010 15:37:00 Managerial Accounting  Internal Financial Accounting  External Ethics – Appendix B1 + B2 4 categories o Confidence o Confidentiality o Integrity o Credibility 3 Management Functions Planning Directing and Motivating Controlling 3 Types of Businesses Service Merchandising Manufacturing o 3 Manufacturing Costs Direct Materials  form an integral part of the finished product Direct Labor  Labor expended upon Direct Materials Factory Overhead  All other manufacturing costs Depreciation C F                 Direct  Labor
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Prime Costs = Direct Materials + Direct Labor Conversion Costs = Direct Labor + Factory Overhead o Example: Prime Costs: $4,700 Conversion Costs: $2,200 Direct Materials is 3x Factory Overhead Find DM, DL, FO   PC=DM+DL       = 4,700 -(CC=FO+DL)      = 2,200
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This document was uploaded on 11/04/2011 for the course BUSI 101 at UNC.

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Lectures - Lecture1(Chapter1) 29/08/201015:37:00...

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