Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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products. Chuck questioned if the current cost-management system was providing the management with accurate data about product costs. In a traditional‚ volume-based product-costing system‚ only a single predetermine overhead rate is used. All manufacturing-overhead costs are combined into one cost pool‚ a grouping of individual indirect cost items‚ and they are applied to products on the basis of a single variable that costs over a given time span (cost driver) that is closely related to production
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The research consists of an investigation of students’ behavior‚ attitudes‚ and home environment as it relates to misbehavior in school and the need for discipline. So that the study may be understood within the context of the existing work in the field‚ this chapter of the proposal presents a review of the research on school discipline. The review begins with a delineation of basic patterns of school misbehavior which is followed by an examination of research on factors that appear to be contributive
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Creon and his City “A fortune won is often misfortune” (Scene 1 line 118) Objective: Discern the meaning of this quote as it pertains to circumstance with the play. Identify the situation and then analyze and elaborate upon it through your interpretation. Response: Creon‚ although seemingly evil‚ is actually the hero in the Greek Play Antigone by Sophocles. Antigone displays the dramatic change Creon undergoes in his days as ruler. As king of Thebes‚ Creon acts with the intention of
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TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
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PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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“A STUDY ON PERFORMANCE APPRAISAL OF EMPLOYEES AT TRUE SAI WORKS NETHIMEDU‚ SALEM Project report submitted to government arts college (Autonomous) salem-7 in partial fulfillment of the requirement for the award of the degree of BACHELOR OF BUSINESS ADMINISTRATION Submitted by DINESHBABU.M (Reg. No. 09 UBN58007 ) Under the guidance of Mr. ELAVARASAN‚ M.B.A.‚ Assistant Professor
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Business (UKM-GSB-LHDN) Cost Classification: Government Agency PROBLEM 2-56 The Department of Natural Resources is responsible for maintaining the state’s parks and forest lands‚ stocking the lakes and rivers with fish‚ and generally overseeing the protection of the environment. Several cost incurred by the agency are listed below. For each cost‚ indicate which of the following classifications best describe the cost. More than one classification may apply to the same cost item. The Answers
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Relaxing Pressure Even though we experience pressures every day and don’t realize it there are times where that pressure can get overwhelming‚ but pressure can also have a positive effect on a person. It can help a person grow‚ like the pressure that is put on students‚ or it can push someone out of their comfort zone so they try something new and exciting. There are times though that people have been pushed so far out of their comfort zone that they get so overwhelmed that they believe the only
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