Cost Reduction in the Automobile Industry—Case Studies of the Chinese Market University of Halmstad School of Business and Engineering Master ’s Programme Master’ Cost Reduction in the Automobile Industry —— Case Studies of the Chinese market Studies October 25‚ 2012 Authors: Xu Zhiran ------ 890212-T253 Zhou Mengxiao------ 890315-T432 Supervisor: Nataliya Galan Examiner: Jonas.Gabrielsson i Cost Reduction in the Automobile Industry—Case Studies of the Chinese Market
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According to Sippican’s cost accounting system further decrease in the price of pumps would not be acceptable as because of the past price reductions the margin on pumps have already declined from the planned 35% to 5%. Detailed and alternative analysis of the costs – such as Activity Based Cost analysis – reveals alternatives for the management to decide on pricing‚ efficiency measures‚ and product development. Sippican Corporation uses a simple cost accounting system for performance evaluation of the
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life-changing decision of whether or not to incur the (expensive) cost of higher education. A striking statistic that jumps out however is that postsecondary enrolment has been increasing over the past few decades despite the increase in tuition and other related costs associated with attending a college or a university. To put this in perspective‚ total enrolment has increased at a rate of 2.78% between 1973 and 2005 even though the costs of attending a postsecondary education increased by a real annual
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application specific integrated circuits and subassemblies. It was established as a captive supplier to other Zumwald divisions but now served outsider also * Total revenue € 3 billion * Highly decentralized basis management * Division performance indicators were achievement of budgeted target Return on Invested Capital (ROIC) and sales growth * Partially vertical integrated * Each division allowed to outsource the component Imaging System Division (ISD) is going to launch new
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overhead rate -estimated manufacturing overhead cost divided by estimated which of manufacturing overhead -it can‚ it must be a manufacturing‚ indirect labor costs that are easily traced to a job -direct which of indirect labor cost examples -maintenance into which of the companies classify manufacturing cost -direct labor‚ manufacturing‚ direct‚ materials a factor that causes overhead costs is called -cost driver what kinds of costs are assigned to units of product in absorption
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LABOUR COST ACCOUNTING. It is concerned with identifying the amount of labour costs to be changed to jobs and overhead accounts. Where a manufacturing organization operates a job costing system‚ information on the labour costs should be properly captured from the following documents:- i) Job Cards: This is open for each job‚ when the job is started‚ the time of starting is entered on the job card and when it is completed‚ the completion time is also entered. The difference between the two
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To make cost estimates‚ project managers use cost analysis; a discipline that attempts to forecast the ultimate cost of a project. The difficulty about this analysis‚ especially for complex projects‚ is that there are a lot of uncertainties about cost items such as technology‚ productivity of human resources‚ economic conditions‚ market conditions‚ prices‚ inflation and other future risks and events. In general uncertainty occurs for a number of reasons: • Uniqueness (no similar experience) ⁎ Corresponding
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ESTIMATING PROJECT TIMES AND COSTS Estimating is the process of forecasting or approximating the time and cost of completing project deliverables. Cost‚ time‚ and budget estimates are the support for control. Project status reports depend on reliable estimates as the major input for measuring variances and taking corrective action. Inaccurate estimates lead to false expectations and consumer dissatisfaction. There are reasons why estimating time and cost are important. Below are the following:
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Wages means the amount paid to the labor for his services to the employer. Q. Explain the nature of wages? (2 marks) It is remuneration Basis (time‚ task‚ piece‚ commission) Payable by the employer Important component of labor cost Important variable Fair and reasonable value Q. Explain the significance of wages (2 marks) Acts as motivator Helps in employee retention Provides satisfaction Used to attract labor Helps in collecting information Q. Bring out
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BT 365 COST PLANNING AND CONTROL Lecturer: J.K. Ofori-Kuragu September‚ 2006 Course Objectives / Course Outline: At the end of this course‚ you will know: 1. What Cost Control is. 2. Purposes of Cost control. 3. Elements of Cost Control 4. The Introduction to Cost Control Systems. 5. Cost Analysis and Cost planning 6. Costs in Use 7. Introduction to Value Engineering Recommended Texts • A. Ashworth Cost Studies of Buildings • Ivor Seeley
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