Time-phased project work is the basis for project cost control. Work package duration is used to develop the project network. Further‚ the time-phased budgets for work packages are timetabled to establish fiscal measures for each phase throughout the project. The time-phased budgets are to emulate the real cash needs of the budget‚ which will be used for project cost control. This information is useful to estimate cash outflows. The project manager’s attention is on when the costs are to occur‚ when
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senior US policymakers‚ the total estimated population of the Philippines in year 2012 is about 103 775 002. Almost 104 million people are living in the Philippines. Compared to the population of other countries‚ Philippines ranks as the 12th most populated country in the world and China as being the undisputed no. 1 most populated country. The fertility rate of Filipino women is estimated to be at 3.05% which is at the upper bracket of 206 countries. It is estimated that four babies are born every
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Chapter 1: Introduction ------------------------------------------------- 1.1 Introduction Rice is the staple food for 65% of the population in India. It is the largest consumed calorie source among the food grains. With a per capita availability of 73.8 kg it meets 31% of the total calorie requirement of the population. India is the second largest producer of rice in the world next to China. The all India area‚ production‚ and yield of rice in the year 2001-02 was 44.62 million hectares‚ 93.08
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Plant overhead $122‚000 D/L rate/hour $30 Youngstown has a traditional cost system. It calculates a plant-wide overhead rate by dividing total overhead costs by total direct labor hours. Assume‚ for the calculations below‚ that plant overhead is a committed (fixed) cost during the year‚ but that direct labor is a variable cost. 1. Calculate the plant-wide overhead rate. Use this rate to assign overhead costs to products and calculate the profitability of the four products. The assignment
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have done above is a “full-cost” analysis. This is in contrast to a “direct-cost” analysis that ignores overhead costs. Is full cost the right metric for job profitability and customer profitability? What assumptions are we making about the variability of overhead costs when we do a “full-cost” analysis? By allocating the overhead costs to jobs and customers there is an implicit assumption that these are variable with the cost driver. In reality‚ some of the overhead costs are fixed‚ at least in the
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CHAPTER 6 PRODUCTION EXERCISES 4. A political campaign manager must decide whether to emphasize television advertisements or letters to potential voters in a reelection campaign. Describe the production function for campaign votes. How might information about this function (such as the shape of the isoquants) help the campaign manager to plan strategy? The output of concern to the campaign manager is the number of votes. The production function has two inputs‚ television advertising and
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onomics 1. The chief economist for Argus Corporation‚ a large appliance manufacturer‚ estimated the firm’s short-run cost function for vacuum cleaners using an average variable cost function of the form. AVC= a + bQ+ cQ^2 (the 2 is suppose to be exponent) Where AVC=dollars per vacuum cleaner and Q=number of vacuum cleaners produced each month. Total fixed cost each month is $180‚000. The following results were obtained: Dependent Variable:AVC R-Square
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3 Cost-Volume-Profit Analysis Learning Objectives 1. Explain the features of cost-volumeprofit (CVP) analysis 2. Determine the breakeven point and output level needed to achieve a target operating income 3. Understand how income taxes affect CVP analysis 4. Explain how managers use CVP analysis in decision making 5. Explain how sensitivity analysis helps managers cope with uncertainty 6. Use CVP analysis to plan variable and fixed costs 7. Apply CVP analysis to a company producing multiple
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Quality Cost 1 Quality is defined from the customer´s point of view l Performance l Performance or the primary operating characteristics of a product or service. Example: For a car‚ it is speed‚ handling‚ and acceleration. For a restaurant‚ it is good food. l Features l Features or the secondary characteristics of a product or service. Example: For a TV‚ it is an automatic tuner. For a restaurant‚ it is linen table cloths and napkins . l Reliability l Reliability
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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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