Examlex
Revise the following poorly written opening of a claim letter requesting a refund
of the full purchase price of an iPod still under warranty. Write the opening
sentence only.
On May 12 I purchased an iPod touch from your online store for $229.99 plus shipping charges of $15.24. I have been using this iPod during my daily commute to work ever since I bought it. Yesterday it simply quit working, and now I can't upload any songs or playback any songs previously recorded. This iPod cost me a pretty chunk of change for a little music during the commute, and I'm pretty angry about it failing so soon. When I tried to return it to a local outlet for your company yesterday, they told me I had to write directly to you. Now what?
Absorption Costing
A method of inventory costing that includes all manufacturing costs, both variable and fixed, in the cost of a finished product.
Variable Costing
An economic recording tactic that involves only variable manufacturing costs (direct materials, direct labor, and variable manufacturing overhead) in determining product costs.
Income Statement
A financial statement that shows a company's revenues, expenses, and profits over a particular period, providing insights into its financial performance.
Absorption Costing
A product costing method in accounting that adds up all manufacturing expenses, including direct materials, direct labor, and both kinds of overheads (variable and fixed), to derive a product’s cost.
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