AC1010 Financial and Management Accounting for Managers Course Work for Semester 2 Submitted by: Emerson K.Yip G-number: Date: May 1‚ 2013 Table Content : Page 1. Calculation of Standard Cost per unit for each of the products 3 2. Reconciliation Statement between Standard cost at actual 7 production and Actual Cost of Production. 3. List of possible reasons for each of the variance
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learning theory to improve his staff’s productivity even further? . Cliff resolved not to criticize or punish staff members unless it was absolutely necessary. Instead‚ he frequently complimented them whenever they did a good job.He set daily production goals for them‚ and every Friday afternoon he bought lunch for all staff members who met their goals every day that week.Moreover‚ Cliff randomly conducted spot checks on what staff members were doing‚ and if he found them hard at work‚ he gave
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Assignment 6: PRICING a) Computation of Economic Value of an offering Mercedes Benz is launching its luxury SUV (called the CDL class) in a market dominated by Lexus GL. The CDL class uses diesel and obtains 25 miles per gallon. The Lexus model‚ priced at $48000‚ uses premium gasolene and obtains 20 miles per gallon. Both the models need to be serviced annually but the CDL being a diesel engine requires annual service that is costlier by $100. The life of a diesel engine is typically longer –
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The BCG matrix method is based on the product life cycle theory that can be used to determine what priorities should be given in the product portfolio of a business unit. To ensure long-term value creation‚ a company should have a portfolio of products that contains both high-growth products in need of cash inputs and low-growth products that generate a lot of cash. It has 2 dimensions: market share and market growth. The basic idea behind it is that the bigger the market share a product has or the
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Production & Operations Management What is operation management? What is the role of the Operation Manager? Set of activities that create value in the form of goods and services by transforming inputs into outputs. The role of an operation manager is to design and manage the daily operations and activities in a way that the productivity of the employees raises. It is also their responsibility to ensure that the physical and the human resources of the organization are achieved. He
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Definition of a Manager A Manager is the person responsible for planning and directing the work of a group of individuals‚ monitoring their work‚ and taking corrective action when necessary. A manager can also be an individual who is in charge of a certain group of tasks‚ or a certain subset of a company. Managers may direct workers directly or they may direct several supervisors who direct the workers. The manager must be familiar with the work of all the groups he/she supervises‚ but does not
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------------------------------------------------- The Production/Operations Function In Business A. True/False 1. Production/operations Management refers to creation of goods whereas production refers to the creation of services. 2. All organisations‚ including service organizations such as banks and educational institutions‚ have a production function. 3. Production is a creation of goods and services. 4. W. Edwards
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WHAT DO MANAGERS DO? A CRITICAL REVIEW OF THE EVIDENCE COLIN P. HALES Department of Management Studies for Tourism and Hotel Industries‚ University of Surrey INTRODUCTION IN this article‚ I consider the extent to which the question ’What do managers do? ’ has been satisfactorily answered by published empirical studies of mana- gerial work and behaviour. Two aspects of this enterprise require justification: the pertinence of the question posed and the need
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Business Analysis and Valuation: IFRS Edition Instructor’s Manual – Discussion Questions Palepu – Healy – Bernard – Peek 2 Instructor ’s Manual Dot-Com Crash-3 Instructor’s Manual – Discussion Questions Table of Contents Table of Contents...........................................................................................................3 Chapter 1 A Framework for Business Analysis Using Financial Statements................4 Chapter 2 Strategy Analysis.................
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point of contact between headquarters and the subsidiaries to focus the flow of information. b. ensure that several key people in the foreign subsidiaries are linked to individuals at the headquarters who can represent and defend their views. c. carefully select the people he interacts with in the subsidiaries in order to reduce conflicting perspectives regarding innovation management. d. listen to the different national perspectives and priorities‚ but minimize differences in views from multiple
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