Variable Costing Essay Example | Topics and Well Written Essays - 1250 words

Variable Costing - Essay Example Product cost versus period cost Also known as inventorial costs, product costs are all those costs that are used in the acquisition and production of a product. They include direct labor costs, cost of direct materials and the manufacturing expenditure (Maher et, al 2006). They are normally assigned to an inventory account in the balance sheets and released from the stock as expenditure. Period costs are all the omissions in the product cost normally expensed on the income statement or report in the time of occurrence for example the office rent, administrative expenses and commissions on sale, which are expensed on the income statement during such periods of occurrence (Maher et, al 2006). ... The fixed manufacturing expenditure is incurred with the hope that the capital represented by these costs will be consumed in the manufacture of stock. Therefore these costs should correspond or rather be matched against the income attributed to the sale of such stock. Absorption cost needs the computation of expenditure rate for applying all the production expenses to the units that are produced during that period or else twin expenditure rates for variable manufacturing and fixed manufacturing overheads or multiple overhead rates in case the company uses the activity based costing (Hansen, et, al 2006). In variable costing, the validation is that the fixed manufacturing overhead shall be incurred in the short (er) term with no emphasis of the quantity of inventory that is produced. Even if the firm is not operating, a large portion of the fixed manufacturing overhead cannot be avoided in the short run hence the treatment of fixed manufacturing overhead as a period expanse. Though c onfusing in the sense that it implies only the direct manufacturing costs are capitalized, the fact is that the variable manufacturing overhead is also capitalized in equal measure. The name is far much less than ideal because not every variable cost is capitalized as the non manufacturing costs do not get to be capitalized as a portion of the stock or inventory in any circumstance. Usually, in variable costing, the cost of the ending stock is consisting of both the variable manufacturing overhead as well as the cost of direct manufacturing which is the materials and labor. Therefore, these are the costs for which the variable costing correspond the matching principle and as part of the inventory/stock, no other thing is

Economics of Race and Gender Essay Example | Topics and Well Written Essays - 1500 words

Economics of Race and Gender - Essay Example In addition, analysis of different movies indicated that it is something that is not unstoppable, and organized efforts will be very effective in eliminating it from the society. Specifically, it is an observation that although discrimination and racism are not visible evidently in the society, however, a microscopic eye can be very helpful in identifying such elements in the society, and it was understandable from different movies in the class. For instance, the film Rosie the Riveter evidently indicated the effects of discrimination on women during and after World War II in the United States, and the film showed such effects with the help of character ‘Rosie’ and her confrontation due to discrimination in California during wartime 1944. From this movie and other movies like Crash, Freedom Writer, one can clearly observe presence of discrimination and racism in the United States, and thus, the class helped enormously in better understanding of the topic. Despite the fact that in an ideal society, which many societies claim to be, access to political and economic opportunities must be based on meritocratic factors, however, the same is true. The entire human history reveals that social positions and social classes have greatly affected the ability of people to score on political and economic grounds. There are different ways of looking at the same. Firstly, it can be looked from the perspective of both genders. Despite women are in majority on this planet, yet there are a very few women leaders known to the world. In fact, the countries that claim to be most democratic ones had women suffrage for the longest periods. Secondly, it can be viewed from the point of view of social classes. It is common for children belonging to wealthy parents to get a good education and earn more in their coming life. Moreover, even the lower social class from which most number of people belongs has produced very few political leaders. Moreover, in many parts