Administrative expenses are non-manufacturing costs that include the costs of top administrative functions and various staff departments such as accounting, data processing, and personnel. Executive salaries, clerical salaries, office …
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This lecture overviews estimating methods for Mineral Processing capital and operating costs along with common aspects of financial analysis.
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The operating staff is thus reminded that maximum efficiency results from minimum cost per ounce of metal rather than minimum cost per ton of ore, which should have a salutary effect when such questions as control of dilution and grade of ore in mining and loss of metal in milling are considered.
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Crushers and Grinding Mills: Machinery used to break down and process mined ore into smaller particles. Processing Plant: Crushing, Grinding, ... Calculating the percentage of revenue that remains after accounting for direct …
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Examples of Process Cost Accounting. Process cost accounting is used in circumstances where the units of product are homogenous. Take a look at a few examples of how it works in these fictional companies. (The companies are not real.) Bubblez'n'More is a seltzer bottling company specializing in unique flavors.
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For instance, if the processing cost was R200 per ton, a dilution rate of 88% would mean that R176 is spent on processing waste as ore in the mill. It is clear that the mill processing costs would increase directly by an amount equal to the dilution factor.
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Since this amount results from a normal loss it will be credited to the Process B account. The production costs for Process B are then calculated as follows. Costs = Process A costs + Process B costs - Scrap value Costs = 40,950 + 52,500 - 1785 = 91,665 Unit Cost. The cost per unit for Process B is calculated as follows.
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Mining companies typically assess exploration costs through either full-cost or successful-efforts accounting methods. In full-cost accounting, all costs related to exploration are capitalized, while in successful-efforts, only …
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ABC is an accounting method that allows mines to gather data about their operating costs. Costs are assigned to specific activities including: • Drilling • Engineering • Truck Haulage activities …
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In this case, the joint costs are the costs incurred in the mining process. Joint costs = Labor costs for mining + Manufacturing overhead for mining = $476,000 + $392,000 = $868,000. c. Cost of Metal-B sold: To calculate the cost of Metal-B sold, we need to subtract the cost of the Metal-B ending inventory from the total cost of Metal-B.
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These types of manufacturing are optimal for the process cost system. The similarities between job order cost systems and process cost systems are the product costs of materials, labor, and overhead, which are used determine the …
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(a) Scope.This section applies to required, unilateral, and desirable changes in cost accounting practices. (b) Procedures.Upon receipt of the contractor's notification and description of the change in cost accounting practice, the CFAO should review the proposed change concurrently for adequacy and compliance. The CFAO shall- (1) If the description of …
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At the end of the mining process, the ore splits off into three products: Metal-A, Metal-B, and Metal-C. Douglass sells Metal-C at the split-off point, with no further processing. Metal-A is processed in Plant A, and Metal-B is processed in Plant B. The following is a summary of costs and other related data for the period ended December 31:
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Douglass Minerals mines ore and then processes it into other products. At the end of the mining process, the ore splits off into three products: Metal-A, Metal-B, and Metal-C. Douglass sells Metal-C at the split-off point, with no further processing. Metal-A is processed in Plant A, and Metal-B is processed in Plant B.
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Hoisting: The cost of raising ore and waste to the surface, delivering the ore to the bins, and depositing the waste on the dump; includes the cost of running the hoisting-engines, …
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PDF | This lecture overviews estimating methods for Mineral Processing capital and operating costs along with common aspects of financial analysis. | Find, read and cite all the research you need ...
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From the viewpoint of mineral economics, the ultimate and significant production cost is that per unit of metal produced rather than the cost per ton of ore treated.
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Cost accounting is an accounting method that captures a company's total production cost by assessing the variable and fixed costs involved in the production process. Utilized for internal purposes only, cost accounting assists the management in optimizing profitability through effective cost controls.
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Lopelex Mining Corporation uses a process cost system for its ore extraction from BSA ACTG-112 at AMA University Online Education Log in Join ... Log in Join. Cost accounting final exam.pdf - Swedish Cruise Lines SCL ... Pages 33. Total views 97. AMA University Online Education. BSA. BSA ACTG-112. MasterFlag12759. 3/11/2024. Cost accounting ...
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By quantifying the environmental costs of mining activities per ton of ore, it is possible to optimize the ultimate pit limit or select the most profitable extraction method for blocks with combined mining potential. In this study, we propose a method for determining the environmental costs per ton of ore and discuss the results obtained.
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Gold processing steps: 1. Two-stage crushing. Large gold ore first enters the jaw crusher for primary crushing, then goes through the cone crusher for secondary crushing, separating out gangue minerals. The crushed gold ore is screened by a vibrating screen. 2. Grinding. The screened gold ore is sent to the overflow ball mill for grinding, achieving a …
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Processing beyond split-off and cost allocations All-A-Buzz makes three products from a joint production process using honey. Joint cost for the process for the year is $98,560. Per Unit Incremental Units of Selling Price Processing Final Sales Product Output at Split-Off Cost Price Honey butter 8,000 4.00 $3.00 $6.00 Honey jam 16,000 6.40 4.00 14.00 Honey syrup 800 3.00 …
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Study with Quizlet and memorize flashcards containing terms like (T or F) Information is related to past events is relevant in the decision-making process., (T or F) In evaluating alternative courses of actions, a manager should select the alternative that provides the highest incremental benefit to the company., (T or F) In an outsourcing decision, avoidable fixed costs are irrelevant. and more.
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Step 2: Determine a production measure that can be used to allocate costs X has determined that they will allocate costs based on the volume of waste extracted compared with expected …
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Study with Quizlet and memorize flashcards containing terms like True or false: Joint costs cannot be incurred in a service department., A possible reason why a department might have a lower cost allocated internally for a service relative to the outside purchase price of the service is ______., revenue methods for accounting for by-products ______. and more.
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This includes detailed analysis of the market for the commodity and the potential costs of extraction and processing. Factors such as the grade of the ore, the accessibility of the site, and the current and forecasted market …
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ACCT 3333 Cost Accounting. Save. Flashcards; Learn; ... If a company obtains two salable products from the refining of one ore, the refining process should be accounted for as a(n) a. reduction process. b. joint process. c. mixed cost process. ... selling price at split-off minus allocated joint processing costs. c. final selling price minus a ...
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