Are uncollectible accounts receivable a normal cost of doing business

The topic will be "Are Different Methods of Accounting for Variable Cost Necessary?"

the computation of cost of goods manufactured on the income statement IS . (ASSUME THERE ARE NO WORK-IN- PROCESS INVENTORY)

Due to the high cost of fuel on the international and the current downturn in the economy the The Jamaica Light and Power Plant has made the decision to make twenty five positions redundant by the July 31, 2013.  Based on the Employment Termination Redundancy and Termination Act advise the affected staff members on the following

i)        Define redundancy                                                                                              ( 2 marks)

ii)      State clearly the conditions under which redundancy payments will be made and whether these staffs are entitled to redundancy payment.                                                       

iii)    Advise the staff of their entitlement based on their years of service.           ( 5  marks)

iv)    Advise the two members of staff who are on maternity leave their entitlement under

            the ETRP.                                                                                                      

explain how account analysis is used to estimate cost.

                                               Costs

Required:   Calculate the cost of raw materials used in production.

Required:  Calculate the cost of goods manufactured

Calculate the cost of goods sold.

Required:  Calculate the prime costs

  Calculate the conversion costs.

Which of the following is the effect of using lower of cost or market on the liquidity metric? a.An increase in net income b.An increase in the days' sales in inventory c.A decrease in sales d.A decrease in the days' sales in inventory