Participation Exercise #4 Assignment Example | Topics and Well Written Essays - 250 words

Participation Exercise #4 - Assignment Example Manufacturer’s expenses that occur apart from the actual manufacturing is the second component of overhead (nonmanufacturing costs). Predetermined overhead rate is useful in ‘applying’ overhead cost in a manufacturing setup. It is calculated at the beginning of the company’s accounting cycle. The formula for calculating the pre-determined overhead rate is as follows: According to generally accepted accounting principles (GAAP) manufacturing overhead must be included in the cost of Work in Process Inventory and Finished Goods Inventory on a manufacturer’s balance sheet. Pre-determined rate therefore is used to divide and allocate manufacturing overhead costs to each unit produced. It is defined as the rate used to apply manufacturing overhead to work- in- process inventory (Kimmel, Weygandt and Kieso). From the formula for calculating predetermined overhead rate, overhead is obtained by multiplying predetermined overhead rate by actual driver units. The difference between applied overhead and the amount of overhead actually incurred is referred to as over-or-under-applied overhead. Over-applied overhead increases the cost of production hence lower the company’s level profits. Under-applied overhead gives high rates of profits which may not be the correct position of the organization (Kimmel, Weygandt and

A Legendary Experience in the Robin Hood Festival Article

A Legendary Experience in the Robin Hood Festival - Article Example It is evidently clear from the discussion that every year during mid-august, hundreds of tourists flock to visit the Robin Hood county of Nottinghamshire to experience the celebration of the world-famous Robin Hood Festival. At this time of the year, people from different parts of the country witness the transformation of a quiet English town into a lively reverie of performances depicting the life of the legendary hero. The Robin Hood Festival is where the adventures of the famous English hero come into life. Some of the highlights of the festival include musical theatre and jousting performances that re-enacts the adventures of the famous outlaw. Aside from that, falconry and crafts display draw many tourists in awe. The best thing about the entire event is that you can witness it for free. Yes, you heard me right; visitors to the annual Robin Hood Festival witness the adventures of the medieval hero come to life by simply taking a short trip to the English city of Nottingham. Whet her you are living in London, Liverpool, or Birmingham, it is worth taking a stopover to the place where the legend is born. It is so easy to spot the Robin Hood County of Nottinghamshire because bows and arrows are used to guide the travelers in the area. Of course, another alternative route you cannot miss is the â€Å"Robin Hood Line†, a railroad in between Nottingham and Worksop. You can definitely enjoy the scenes of countryside on either trip. The 460 acres nature reserve known as the Sherwood Forest is where most of the actions happen. Every year, some 400,000 tourists visit the country’s famous forest in order to witness the exhibition in the County Park. Anywhere you look, there will always be medieval features in the surroundings – actors play as musicians, alchemists, magicians, and entertainers in the Middle Ages. Because everyone is dressed in medieval attire, you will indeed capture the typical English medieval atmosphere. While the band plays, liv e jousting and fighting scenes make the crowd lively. These activities make the entire festival more enjoyable and lively.