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We appreciate your effort made by your interaction with us and the situation that we are suffering because of the demands of working in terms of concentration on cranes large sizes - 100-200 - In the Ju'aymah and collected a large number of our partners who have a responsibility to provide this service for them under our responsibility, as we are in a ---- very keen to meet their demands as far as we can, at any time where we wish always to help us conditions to provide a service for each customer in time and you are one of them. This is the other side that all contributed to the cooperation and coordination of equipment during the work's role was one of the main causes Nhae this does not work when it is unexpected for us that work for you personally thanks and appreciation for the efforts made in this regard. Also so appreciate your praise and the thanks _khasitna by the orbit of our thanks and respect (for he who does not thank Allah does not thank the people) as you are the only person familiar with the Khvaia things mentioned above and on the speed of the cranes, the said work site to another within and outside. ... Gas .... This is then also said that for this message and then Scourge do not consider a letter of thanks, but it is for us to be to determine where we are in terms of the level of service we provide to our partners and how satisfied the service that we offer If the positive results we Ptt ware that service and, if negative, then we are working to rectify Anevsina and look the reasons for those Alakhvaguet because we all w Ge tons yolk to be always at the top where Working on the reservation site, which vie for management units ------- Almtnat Rh s work in the focus of Aramco in the Kingdom
After completing this chapter, you should be able to:
compare and contrast marginal and absorption costing methods in respect of profit reporting
and stock valuation;
apply marginal and absorption costing approaches in job, batch and process
prepare ledger accounts according to context: marginal or absorption based in job,
batch or process environments, including work-in-progress and related accounts such as
production overhead control account and abnormal loss account.
In your foundation studies (or equivalent) you should have already encountered the basic principles
and concepts involved in cost accounting. Specifically, you should be familiar with the
manner in which the costs of objects and activities are determined through an exercise of cost
allocation, apportionment and absorption. You should also be familiar with basic cost
accounting practices such as stock valuation (LIFO, FIFO and average), profit determination
(using marginal and absorption costing conventions), accounting in particular types of production
environment (job, batch and process) and the principles of cost behaviour (fixed and
variable). Be aware that the CIMA examination scheme is a cumulative one and you should
refer back to your earlier studies if you are unfamiliar with any of the topics referred to.
In this chapter we will revisit these basic principles and develop our understanding of
their use into more advanced areas. The content of this chapter will lead into an exploration
of modern innovations in management accounting systems in Chapter 8.
1.2 The difference between marginal costing
and absorption costing
You should already be aware that the difference between marginal costing and absorption
costing lies in their treatment of fixed production overhead.
With absorption costing, the fixed production overhead cost is absorbed into the cost of
units and all stock items are valued at their full production cost.
In contrast, marginal costing values all stock items at their variable or marginal cost only.
Fixed costs are treated as period costs and are written off in full against the profit for the
Since the two systems value stock differently, it follows that each will report a different
profit figure for the period if stock levels alter.
1.3 Preparing profit statements using
The best way to demonstrate how profit statements are prepared for each of the methods
is to look at a worked example.
Using the information below, prepare profit statements for June and July using (a) marginal costing and (b) absorption
A company produces and sells one product only which sells for £50 per unit. There were no stocks at the end of May
and other information is as follows:
Standard cost per unit:
Direct material 18
Direct wages 4
Variable production overhead 3
Budgeted and actual costs per month:
Fixed production overhead 99,000
Fixed selling expenses 14,000
Fixed administration expenses 26,000
Variable selling expenses 10% of sales value
Normal capacity is 11,000 units per month.
The number of units produced and sold was:
Sales 12,800 11,000
Production 14,000 10,200
STUDY MATERIAL P1 2
COST ACCOUNTING SYSTEMS
1.3.1 Profit statements using marginal costing
A marginal costing will value all units at the variable production cost of £25 per unit
(£18 £4 £3).
Profit statements using marginal costing
£000 £000 £000 £000
Sales revenue 640 550
Less variable cost of sales:
Opening stock – 30
Variable production cost
(14,000 £25) 350
(10,200 £25) 255
(1,200 £25) 30
(400 £25) 010
Variable production of sales 320 275
Variable selling expenses 064 055
Variable cost of sales 384 330
Contribution 256 220
Less fixed overhead:
Fixed production overhead 99 99
Fixed selling expenses 14 14
Fixed administration expenses 026 026
Profit 117 081
1.3.2 Profit statements using absorption costing
Fixed production overheads are absorbed on the basis of normal capacity which is
often the same as budgeted capacity. You should recall that predetermined rates are
used partly to avoid the fluctuations in unit cost rates which arise if production levels
Full production cost per unit £25 variable cost £9 fixed cost £34 per unit
This full production cost of £34 per unit will be used to value all units under absorption
Since the production level is not equal to the normal capacity in either June or July there
will be under- or over-absorbed fixed production overhead in both months. It is probably
easier to calculate this before commencing on the profit statements.
Fixed production overhead absorbed
(14,000 units £9) 126
(10,200 units £9) 91.8
Fixed production overhead incurred 099 99.0
Over/(under) absorption 027 (7.2)
Fixed production overhead per unit
11,000 £9 per unit
3 MANAGEMENT ACCOUNTING – PERFORMANCE EVALUATION
COST ACCOUNTING SYSTEMS
Profit statements using absorption costing
£000 £000 £000 £000
Sales revenue 640.0 550.0
Less full production cost of sales:
Opening stock – 40.8
Full production cost
(14,000 £34) 476.0
(10,200 £34) 346.8
(1,200 £34) 040.8
(400 £34) 013.6
production overhead (note 1) (27.0) 7.2
Full production cost of sales 408.2 381.2
Gross profit 231.8 168.8
Less selling/admin. expenses:
Variable selling expenses 64.0 55.0
Fixed selling expenses 14.0 14.0
Fixed administration expenses 026.0 026.0
Net profit 127.8 873.8
Note: If overheads have been over-absorbed then too much has been charged as a cost of production. This amount is therefore deducted
to derive the full production cost of sales. If overheads are under-absorbed, the amount is added to increase the production cost of sales.
1.4 Reconciling the profit figures
As well as preparing profit statements using absorption costing and marginal costing, you
should also recall how to reconcile the profits given by each method for the same period
and by the same method for different periods.
1.4.1 Reconciling the profits given by the
The profit differences are caused by the different valuations given to the closing stocks in
each period. With absorption costing, an amount of fixed production overhead is carried
forward in stock to be charged against sales of later periods.
If stocks increase, then absorption costing profits will be higher than marginal costing
profits. This is because some of the fixed overhead is forward in stock instead of being
written off against sales for the period.
If stocks reduce, then marginal costing profits will be higher than absorption
costing profits. This is because the fixed overhead which had been carried forward in
stock with absorption costing is now being released to be charged against the sales for the
A profit reconciliation for the previous example might look like this:
Marginal costing profit 117.0 81.0
Adjust for fixed overhead in stock:
Stock increase 1,200 units £9 per unit 810.8
Stock decrease 800 units £9 per unit 0(7.2)
Absorption costing profit 127.8 (73.8)
STUDY MATERIAL P1 4
COST ACCOUNTING SYSTEMS
1.4.2 Reconciling the profits for different periods
You should also recall how to reconcile the profits for different periods using the same
(a) For marginal costing, the unit rates and the amount of fixed costs charged each period
are constant. Therefore the only thing which could have caused the profit difference
was the change in sales volume. The lower sales volume in July resulted in a lower
contribution and therefore a lower profit (since the amount of fixed cost remained
The contribution per unit is £20 as follows:
The marginal costing profit figures can be reconciled as follows:
(b) For absorption costing the major part of the profit difference is caused by the change
in sales volume. However a further difference is caused by the adjustments for underand
over-absorbed fixed production overhead in each of the two periods.
The profit per unit with absorption costing is £11 as follows:
The absorption costing profit figures can be reconciled as follows:
This may look confusing because both the under- and over-absorption are deducted.
This is because the over-absorption for June made profit for that month higher, therefore
it must be deducted to arrive at July’s profit. Similarly, the under-absorption in July made
July’s profit lower than June’s, therefore it must also be deducted in the reconciliation.
1.4.3 Profit differences in the long term
The two different costing methods produce profit differences only in the short term when
stocks fluctuate. If stocks remain constant then there will be no profit differences between
the two methods.
Absorption costing profit for June 127.8
Decrease in sales volume for July
1,800 units £11 profit (19.8)
Adjustments for under-/over-absorption
Absorption costing profit for July (73.8)
£ per unit
Selling price 50
Total production cost (34)
Variable selling cost 0(5)
Marginal costing profit for June 117
Decrease in sales volume for July
1,800 units £20 contribution 036
ويتاح تقرير اللجنة المعنون "الاعتماد على القيم: مستقبل الرعاية الصحية في كندا" Building on values: The Future of Health Care in Canada على الموقع الإلكتروني http://www.hc-sc.gc.ca/english/care/romanow/hcc0086.html.
سوء الالتحام أو عدم الانجبار مع تقاصر (أكثر من 15 ملم، غالبا ً 2 إلى 3 سم)؛ • تشوه زاوي (أكثر من 30 درجة في موقع الكسر) أو انزياح translation (أكثر من 1سم)؛ سوء الالتحام أو عدم الانجبار مع تقاصر (أكثر من 15 ملم، غالبا ً 2 إلى 3 سم)؛ • تشوه زاوي (أكثر من 30 درجة في موقع الكسر) أو انزياح (Noitalsnart أكثر من 1سم)؛
الرجل الذى غير مسار هذا القرن
واضع الملامح الاساسية لاعظم اختراع فى القرن
نجح كونراد زوسه في انجاز أكبر طفرة علمية في تكنولوجيا القرن العشرين، حيث وضع الأسس الهندسية لصناعة وبرمجة الحاسوب. أبهر الناس بعبقريته وأدهشهم بتصميماته التكنولوجية حتى اعتبره البعض الاب الشرعي للحاسب الحالي.
ولد كونراد زوسه في مدينة برلين عام 1910 ثم انتقل مع عائلته عام 1912 إلى مدينة برونسبرغ في بروسيا الشرقية حيث التحق بالمدرسة البروتستنتية هناك. كان منذ صغره ولوعا بالتقنيات الجديدة ويحب الرسم. التحق "زوس" سنة 1935 بجامعة برلين شرلوطن (جامعة برلين التقنية) ودرس الهندسة الميكانيكية ليعمل بعدها في ميدان الإستاتيكيات لدى شركة الطيران هينشل في ديساو. كان يقوم في الشركة بحل معادلات حسابية باليد كانت تستدعي كثير من التخمين والوقت. ولعل شعوره بالملل والعناء دفع به إلى التفكير في آلة تقوم بتلك العمليات الحسابية وتوفر عليه مشقة التركيز والتخمين. ترك العمل في تلك الشركة واعتزل في منزل أبويه وعكف في بحث معمق لتحقيق الرؤية التي راودته خلال عمله لدى شركة هينشل للطيران. اتخذ من أحدى غرف المنزل ورشا للعمل التجريبي رغم تحفظات والده وأخته اللذين كانا يمولان اكتشافاته.
"There was nothing good about Muammar Gaddafi", Ali Aujali, Colonel Muammar Gaddafi's former ambassador to the United States has told the BBC.
More than two years after the capture and murder of Gaddafi, a new film - with unprecedented access to those close to the former Libyan leader- reveals the colonel's secrets.
According to Aujali, a Libyan Arab Airlines 727 plane was shot down on Gaddafi's orders. A total of 157 people died in the crash.
Aujali said Gaddafi's motive had been to show the West how international sanctions, imposed after Lockerbie, and the resulting shortage of spare plane parts, meant Libyan Arab Airlines could not fly its planes safely.
Gaddafi also thought that anybody who was a dissident should be eliminated, according to Frank Terpil, an American fugitive from justice who ran a "Murder Incorporated" operation for Gaddafi in the 1970s, killing Libyan dissidents abroad.
Former Libya's leader allegedly tortured and killed a man by tying him to two cars and ripping his body apart, after he had complained that Gaddafi had had sex with his wife.
Gaddafi also demanded his bodyguards to rejoice when witnessing the execution of 17 students, a former female bodyguard of the leader said.
"They did not hang them. They shot them. We were forbidden to scream. We were ordered to cheer," the former bodyguard told the BBC.
The wife of Lutz Kayser, a German rocket designer who worked for Gaddafi in the 1980s, described Gaddafi as "charming", but she then added that he later became disillusioned when he failed to set up a "utopia" in Libya.
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