Cost Essays & Research Papers

Best Cost Essays

  • Cost - 1229 Words
    Case: Restructuring Costs Fact: Pharma Co. is considering relocating their manufacturing operations to a new area. Unfortunately, this plan includes terminating current employees. The company has issued a press release announcing their relocation intentions and communicated this plan to their employees on December 15, 2011 and December 27, 2011 respectively. As a result of this action, the company will incur certain restructuring–related costs (i.e. $0.5 million in relocation cost, $1.5...
    1,229 Words | 4 Pages
  • Costs - 640 Words
    Aerotech’s controller, Chuck Dickens decided to change from a traditional volume-based system to an activity-based costing (ABC) system after reading about the two-stage procedure to assign overhead cots to 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...
    640 Words | 2 Pages
  • Costs Cost - 368 Words
    Memo To: Mr. Ron Collins From: Name Date: May 30, 2013 Re: Xyberspace Consulting, Inc.: Cost Allocation Revision Background Xyberspace Consulting is an Internet consulting firm in Austin, Texas that takes pride in keeping their employees up to date with education in the latest technology and software advances. They have some of the best trainers and require all employees to attend a total of two weeks of training. The problem comes from the allocation of the cost of the...
    368 Words | 4 Pages
  • Cost Control and Cost Reduction
    ASSIGNMENT ON COST CONTROL AND COST FREDUCTION SUBMITTED BY, MOHAMMED NAFAISE E.K ROLL NO: 1600 COST CONTROLL & COST REDUCTION COST CONTROL The practice of managing and/or reducing business expenses. Cost controls starts by the businesses identifying what their costs are and evaluate whether those costs are reasonable and affordable .Then if...
    736 Words | 3 Pages
  • All Cost Essays

  • Costs and Marginal Cost - 6120 Words
    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...
    6,120 Words | 24 Pages
  • Cost Management & Cost Control
    Cost Management or Cost Control In broad sense, both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations, many times, one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits...
    431 Words | 2 Pages
  • Cost Control and Cost Reduction
    ------------------------------------------------- ASSIGNMENT ON COST CONTROL AND COST REDUCTION ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- -------------------------------------------------...
    338 Words | 3 Pages
  • Cost Pools and Cost Objects
    Topic 6: Management Accounting and Cost Case: Shelter Partnership a. My main learning outcomes from Topic 6 and the Case Study; 1) Firstly, I realize management accounting has much to offer. Somehow I can handle physics but not accounting. Now thanks to this course I can appreciate and make sense of it. The bit that really caught my attention was seeing how management accounting can be really useful for business planning, cost management, budgeting and performance measurement. It offers...
    777 Words | 3 Pages
  • Costs and Direct Labor Cost
    Midterm2Practice Key 1. The following data have been recorded for recently completed Job 501 on its job cost sheet. Direct materials cost was $3,067. A total of 30 direct labor-hours and 104 machine-hours were worked on the job. The direct labor wage rate is $12 per labor-hour. The company applies manufacturing overhead on the basis of machinehours. The predetermined overhead rate is $11 per machine-hour. The total cost for the job on its job cost sheet would be: A. $4,571 B. $3,757 C. $3,090...
    1,320 Words | 5 Pages
  • cost reduction and cost avoidance
     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...
    1,828 Words | 6 Pages
  • Cost Production and Types of Cost
    Generally, the term cost of production refers to the ‘money expenses’ incurred in the production of a commodity. But money expenses are not the only expenses incurred on the production of a commodity. There are number of services and inputs such as entrepreneurship, land, capital etc., which are offered by an entrepreneur without changing any price or receiving any payment for them. While computing the total cost of production, allowance should be made for such expenses. It is therefore...
    1,400 Words | 5 Pages
  • Cost and Unit Product Costs
    Session 4: Wilkerson Co. 1. Use the production and operations data of Exhibit 4 to reallocate the manufacturing overhead in a manner that reflects the actual use of overhead resources. Diagram the new cost system using conventions that we developed in the earlier classes (e.g., trace all costs from accounting categories to products). 2. Calculate new total unit product costs for the valves, pumps and flow controllers. Compare the costs that you calculated to the standard unit product costs...
    330 Words | 2 Pages
  • Cost and Overhead Costs - 391 Words
    Colorscope 1. Why would any customer, let alone large advertising agencies and departmental stores, go to Colorscope rather than go to large printers listed in Exhibit 3? Before desktop publishing became popular, Colorscope had a competitive advantage through its expensive proprietary computer equipment that could produce complicated print special effects. Colorscope had also been able to build strong relationships with valuable customers through the years and had a good reputation for...
    391 Words | 2 Pages
  • Costs and Cost Accounting Total
    AEREN FOUNDATION’S Maharashtra Govt. Reg. No.: F-11724 AN ISO 9001 : 2008 CERTIFIED INTERNATIONAL B-SCHOOL SUBJECT: FINANCIAL & COST ACCOUNTING Total Marks: 80 N.B.: 1)Allquestionsarecompulsory 2) All questions carry equal marks. Q1) ABC Ltd. Produces room coolers. The company is considering whether it should continue to manufacture air circulating fans itself or purchase them from outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each....
    568 Words | 4 Pages
  • Cost and Overhead Costs - 282 Words
    Youngstown Products, a supplier to the automotive industry, had seen its operating margins shrink below 20% as its OEM customers put continued pressure on pricing. Youngstown produced fours products in its plant and decided to eliminate products that no longer contributed positive margins. Details on the fours products are provided below: Products A B C D Total Production volume (units) 10,000 8,000 6,000 4,000 Selling Price $15.00 $18.00 $20.00 $22.00 Materials/unit...
    282 Words | 1 Page
  • Cost Control And Cost Reduction
    Cost Control and Cost Reduction A business enterprise must survive, grow, and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization, there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost...
    3,434 Words | 12 Pages
  • Harrington: Cost and Variable Costs
    Harrington Case Analysis Issue Stagnant sales performance has caused Harrington Collection to explore new avenues for improved performance, including the launch of a new active-wear line. Recognizing an emerging trend of low price and rapid style turnover in the women’s apparel market, along with tremendous growth in the active-wear segment, Harrington needs to work strategically to capture this profitable market opportunity. After careful analysis, it was determined that Harrington...
    1,073 Words | 4 Pages
  • Costs and Direct Cost - 730 Words
    Universiti Kebangsaan Malaysia Graduate School Of 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...
    730 Words | 4 Pages
  • COST CONCEPTS AND COST ACCOUNTING
    COST CONCEPTS AND COST ACCOUNTING By: Aman Jawahar Sarika Deepak Muneer CONTENTS         Concept of Cost Cost Accounting Terms in Cost Accounting Elements of Cost Meaning of Overheads Classification of Costs Methods of Costing Types of Costing MEANING: Cost Concept: The term ‘cost’ means the amount of expenses [actual or notional] incurred on or attributable to specified thing or activity. Cost means ‘the price paid for something’. Cost Accounting: Cost Accounting is concerned with...
    1,820 Words | 10 Pages
  • Cost Accounting – Classification of Costs
    Cost Accounting – Classification of costs Cost accounting refers to a process of accumulating, recording, classifying and analyzing all costs incurred at various levels of production. The purpose of cost accounting is manifold. It provides a final selling price, suggests the best possible course of action where maximum savings are possible and a strategy for future. Cost accounting is also constructive in comparing the input and output results that ultimately aids the management to arrive at a...
    523 Words | 2 Pages
  • Cost Control and Cost Reduction
    Delivering successful cost reduction programmes In the current economic climate, most organisations must face up to a prolonged period of extreme competition and funding restrictions. This is particularly the case if the past few years have been focused on growth, service improvement or reorganisation (i.e. cost efficiency has not been a recent priority). Such pressures require an approach that reduces costs in a strategic, disciplined, and sustainable manner - delivered at pace. In our view...
    1,294 Words | 4 Pages
  • Cost Control and Cost Reduction
    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....
    1,630 Words | 5 Pages
  • Cost Is Fixed Cost or Variable Cost in Nature?
    Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question, depreciation expense or depreciation cost can either be fixed or variable and this depends on...
    560 Words | 2 Pages
  • Cost Sheet - 1682 Words
    In the books of a Company Cost Sheet for the period ended…….. Units Produced….. Name of the product unit sold…. Particulars Total cost Rs. Unit Cost Rs. Opening stock raw materials Add Purchases of Raw Materials Add: Expenses on Purchases of Raw Materials (octroi & duty) Less: Closing stock of raw materials Less: Sale of scrap or defectives of raw materials = Cost of materials consumed Add: Productive Labour Add: Outstanding wages Add: Direct Expenses(...
    1,682 Words | 18 Pages
  • cost containment - 871 Words
     Cost Control: Definitions and Methods Alejandro Madotta Accounting Supervisor II at Apache Corporation The cost of making a particular product or delivering a particular service is calculated by the finance and accounting department, with the help of a technique that is termed as Cost Accounting. The principle of cost accounting is very simple. The total cost of manufacturing a set or lot of goods or services is added up together and divided by the number of unites that have been...
    871 Words | 4 Pages
  • Cost Method - 471 Words
    Super Bakery's Strategy Super Bakery, by strategy, considered itself a virtual corporation. “A virtual corporation minimizes investment in human resources, fixed assets, and working capital“ (Kimmel, Weygandt, & Kieso, 2009, p. 910). Management's decision for this strategy enables the core functions of the business to be performed in-house. This leaves other functions such as warehousing, manufacturing, shipping, and selling to be outsourced. The management team of Super Bakery had a main...
    471 Words | 2 Pages
  • Variable Cost - 1736 Words
    Cost management | Wilkerson Company Case | | 1. What is the competitive situation faced by Wilkerson? The competitive situation faced by Wilkerson is quite severe. Price cutting in its main product has led to a huge drop in profit. While price increase in another product line partially made up the loss. We will discuss the detailed situation line by line. (1) Valves It was the first product line developed by Wilkerson and its high quality brought it a loyal customer base....
    1,736 Words | 8 Pages
  • Cost Classification - 800 Words
    Cost classification is the process of grouping costs according to their common characteristics. A suitable classification of costs is of vital importance in order to identify the cost with cost centres or cost units. Cost may be classified accounting to their nature, i.e., material, labor and expenses and a number of other characteristics. The same cost figures are classified according to different ways of costing depending upon the purpose to be achieved and requirements of...
    800 Words | 4 Pages
  • Cost Accounting - 2706 Words
    Harvard Business School 9-192-068 Rev. May 1, 1993 DO A Brief Introduction to Cost Accounting T NO Organizations and managers are almost always interested in and concerned about costs. Control of past, present, and future costs is part of every manager’s job. In companies that try to earn profits, control of costs directly affects the amount of profit earned. Knowledge of the cost of products or services is indispensable for decisions about pricing or product and service mix....
    2,706 Words | 12 Pages
  • Explicit Costs And Implicit Costs Concepts
    Q1: explicit costs and implicit costs concepts Explicit Cost Explicit cost is defined as the direct payment which is supposed to be made to others while running business. This includes the wages, rents or materials which are due in the contract. The explicit cost is the expense done in business which can easily be identified and accounted for in the business at any stage. The explicit cost represents the out flows of cash in clear and obvious terms. When any out flow of credit occurs in a...
    1,551 Words | 5 Pages
  • cost accumalation - 364 Words
     Cost accumulation systems Name Tutor Course College Date Generally, cost accumulation is the organized collection of cost data through a set of procedures and systems. According to an accounting business, they used a periodic cost accumulation system. This system only provides limited cost information during a certain period. The system requires end year adjustments to arrive at the cost of goods manufactured. In most cases, it is not considered a complete cost...
    364 Words | 2 Pages
  • Cost Accounting - 2353 Words
    SYLLABUS FOR MANAGEMENT ACCOUNTING – ACCT 5100/7100 PROFESSOR LINDA BAMBER Fall 2012 Date 8/14 Tue. Topic Introduction to Management Accounting and Professionalism Chapter and Reading Course Outline Syllabus eLC Student Orientation: http://elc.uga.edu/student_orientation /index.html Assignment Due Today 1) Hand in your ACCT 5100/7100 profile. 2) Form teams of four with no more than one MBA student per team (I will try to fill out teams of two or three). One team member should...
    2,353 Words | 12 Pages
  • Cost Control - 14192 Words
     CONTENTS 1 EXECUTIVE SUMMARY 2 INTRODUCTION 3 - 7 STUDY OF OBJECTIVES, SCOPE & LIMITATION 8 RESEARCH METHODOLOGY 9 - 12 COMPANY PROFILE 13 – 20 CONCEPTUAL BACKGROUND 21 - 25 COMPETITIVENESS OF BUSINESS PROCESS INTEGRATION 26- 65 ANALYSIS & INTREPRETATION 66 - 81 PORTER’S FIVE FORCES MODEL 82 - 84 SWOT ANALYSIS 85 - 87 FINDINGS AND SUGGESTIONS 88 - 89 CONCLUSION 90 ANNEXURE 91 - 92 BIBLIOGRAPHY 93 1. EXECUTIVE SUMMARY This project is done at GARDEN...
    14,192 Words | 58 Pages
  • Cost Leadership - 419 Words
    Strategy and Structure The purpose of business-level strategies is to create differences between the firm’s position and those of its competitors. To position itself differently from competitors, a firm must decide whether it intends to “perform activities differently” or to “perform different activities”. Cost leadership strategy Tiger airways has chosen the former it exploiting a cott leadership strategy. It has an integrated set of actions taken to produce services with...
    419 Words | 2 Pages
  • Variable Costs - 564 Words
    Assignment: Fixed cost Dora McKinney Hsm/260 Week 4 Instructor: Greg O’Donnell Fixed Costs, Variable Costs, and Break-Even Point Exercise 10.1 Month Meals Served Total Costs July 3,500 $20,500 Low August 4,000 22,600 September 4,200 23,350 October 4,600 24,500 November...
    564 Words | 2 Pages
  • Transaction Costs - 739 Words
    In economics and related disciplines, a transaction cost is a cost incurred in making an economic exchange. A number of different kinds of transaction costs exist. Search and information costs are costs such as those incurred in determining that the required good is available on the market, who has the lowest price, etc. Bargaining costs are the costs required to come to an acceptable agreement with the other party to the transaction, drawing up an appropriate contract, etc.. Policing and...
    739 Words | 3 Pages
  • Cost Accounting - 11176 Words
    Chapter 1 Basic Cost Concepts Learning Objectives • To understand the meaning of different costing terms to understand different costing methods • To have a basic idea of different costing techniques • To understand the meaning of cost sheet In order to determine and take a dispassionate view about what lies beneath the surface of accounting figures, a financial analyst has to make use of different management accounting techniques. Cost techniques have a precedence over the...
    11,176 Words | 44 Pages
  • Variable Cost - 783 Words
    Running head: VARIABLE COSTS Variable Costs ACC/561 June 12, 2012 Variable Costs Any cost which is not fixed and will change in same amount when there is change in production volume is accounted as variable costs. This also means that they change in total rather than per unit whenever there is production or activity change. In production- labor, material or overhead could be the variable costs involved in the business. In Fitness center, there are different variable costs involved and...
    783 Words | 3 Pages
  • Indirect Costs - 585 Words
    The Bridgeton case introduced a relatively simple costing system: DM, DL, and one pool of indirect, support, or overhead costs. The one and only "cost pool" containing all overhead (OH) costs was allocated on the basis of DL$. In this case, the direct costs seem to be largely variable (i.e., they vary proportionally with production volume), whereas some of the indirect costs are relatively variable and others are largely fixed. Case in point: Not all INDIRECT costs are necessarily FIXED. To...
    585 Words | 2 Pages
  • Variable Cost - 597 Words
    Wilkerson Case: Assignment Questions 1. What is the competitive situation faced by Wilkerson? 2. Given some of the apparent problems with Wilkerson’s cost system, should executives abandon overhead assignment to products entirely by adopting a contribution margin approach in which manufacturing overhead is treated as a period expense? Why or why not? 3. How does Wilkerson’s existing cost system operate? Develop a diagram to show how costs flow from factory expense accounts to products....
    597 Words | 2 Pages
  • Cost and Revenues - 1570 Words
    Costs and Revenues What is cost? If you go to a store and like an item and you want to buy it, which of the following questions would you ask: What’s the price of …..? 0R How much does …. cost? Examples of costs – set-up Examples of costs - running Fixed Costs 5000 What happened to the fixed costs if for some reason the company had technical problems and was unable to produce for 2 weeks? What happens if the landlord decided to raise the rent due to high property prices...
    1,570 Words | 6 Pages
  • Sunk Cost - 411 Words
    In economics and business decision-making, sunk costs are retrospective (past) costs that have already been incurred and cannot be recovered. Sunk costs are sometimes contrasted with prospective costs, which are future costs that may be incurred or changed if an action is taken. Both retrospective and prospective costs may be either fixed (continuous for as long as the business is in operation and unaffected by output volume) or variable (dependent on volume) costs. Note, however, that many...
    411 Words | 1 Page
  • Cost of War - 572 Words
    Economic 12/14/10 Final Paper Cost of War Opportunity cost means it is the forgone alternative of the choice made. War is usually a choice. Other than world war ll, the wars fought by the United States since 1900, have been entirely by choice. So what about opportunity cost of a war like the one in Iraq? Leading up to the war there were 250,000 personnel in the gulf with 150,000 additional troops deployed during the invasion. In terms of occupation, about 150,000 occupation troops...
    572 Words | 2 Pages
  • Amalgamation: Costs - 11384 Words
    AMALGAMATION , ABSORBTION & EXTERNAL RECONSTRUCTION Introduction In accounting parlance, amalgamation means merger of two or more companies into one new or existing company. Absorption, on the other hand, refers to acquisition of business of one company by another company. But it may be noted that the Companies Act, 1956 does not make any distinction between amalgamation and absorption. Infact, the Companies Act, 1956 does not properly define the terms amalgamation and...
    11,384 Words | 35 Pages
  • Cost Accounting - 2252 Words
    Assignment: Cost Accounting Applied By Professor Bryan Womack Course Title ACC 350012VA016-1122-001 Cost Accounting February 26, 2012 Companies that are successful financially know what their costs are and how those costs are being spent. The company I have chosen wants to change from a general accounting system where costs are put in general categories and they currently do not have any...
    2,252 Words | 7 Pages
  • Cost Analysis - 395 Words
    Economics Chapter 7 Analysis of Costs Costs affect input choices, investment decisions, and even the decision of whether to stay in business. A. Economics analysis of costs 1. Total cost: fixed and variable (1) Total cost represents the lowest total dollar expense needed to produce each level of output q. TC rises as q rises. (2) Fixed cost represents the total dollar expense that is paid out even when no output is produced. FC is unaffected by any variation in the quantity of output....
    395 Words | 2 Pages
  • Cost Accounting - 986 Words
    Meeting 1 MRF’s File COST ACCOUNTING “An Introduction to Cost Terms and Purposes” Assistant Lecturer: M. Ryan Firmansyah Problem 1 (Quiz 1 September 8, 2009) Consider the following costs that were incurred during the current year. Evaluate whether the cost is: 1. A product cost or a period cost 2. Variable or fixed in terms of behavior 3. For the product cost, whether it is classified as direct material, direct labor, or manufacturing overhead No. 1 Descriptions Product Cost Period...
    986 Words | 4 Pages
  • Opportunity Cost - 930 Words
    Scarcity of resources is one of the more basic concepts of economics. Scarcity needs trade-offs, and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms, the opportunity cost of a decision is based on what must be given up as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost, scarcity and trade-off are important in our daily life because it affects us...
    930 Words | 3 Pages
  • Cost Acc - 1315 Words
    Name: Class: Cost Accounting Date: 02.12.2012 Quiz 5 1) Absorption costing: A) expenses marketing costs as cost of goods sold B) treats direct manufacturing costs as a period cost C) includes fixed manufacturing overhead as an inventoriable cost D) is required for internal reports to managers 2) Variable costing: A) expenses administrative costs as cost of goods sold B) treats direct manufacturing costs as a product cost C) includes fixed manufacturing overhead as an...
    1,315 Words | 6 Pages
  • Cost Accounting - 102714 Words
    MANAGEMENT ACCOUNTING Study Material Prepared By INSTITUTE OF COST AND WORKS ACCOUNTANTS OF INDIA for Junior Accounts Officer(Civil) Examination Conducted By CONTROLLER GENERAL OF ACCOUNTS 1 BASICS OF COST ACCOUNTING 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 Evolution of Cost Accounting, Cost Concepts and Cost Classification Introduction Evolution of Cost Accounting Financial Accounting and Cost Accounting Management Accounting Financial, Cost and...
    102,714 Words | 359 Pages
  • Elements of Cost - 9912 Words
    Lesson-13 Elements of Cost and Cost Sheet Learning Objectives • • • To understand the elements of cost To classify overheads on different bases To prepare a cost sheet Elements of Cost Raw materials are converted into finished products by a manufacturing concern with the help of labor, plants etc. The elements that constitute the cost of manufacturing are known as elements of cost. The elements of cost include the following: • • • Material Labor Expenses Each of these elements is again...
    9,912 Words | 34 Pages
  • Cost Management - 2519 Words
    Introduction: Our case study is on the Columbia City Bank. First of all we would like to talk about the general inner workings of a bank. A bank generates a profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. In recent history, investors have demanded a more stable revenue stream and banks have therefore placed more emphasis on transaction fees, primarily loan fees but...
    2,519 Words | 10 Pages
  • Cost Control - 2692 Words
    THE COST AND SALES CONCEPT Cost is defined as a reduction in the value of an asset for the purpose of securing benefit or gain. Cost is defined in a hotel and restaurant as the expense to a hotel or restaurant for goods or services when the goods are consumed or the services are rendered. KINDS OF COSTS 1. Fixed costs – are those that are normally unaffected by changes in sales volume. They are said to have little direct relationship to the business volume because they do not change...
    2,692 Words | 12 Pages
  • Overhead Cost - 4639 Words
    THE MANAGEMENT OF OVERHEAD COSTS IN CONSTRUCTION COMPANIES Brian Eksteen1 and David Rosenberg² ¹Professor of Construction Management, Faculty of Economic and Building Sciences, University of Port Elizabeth, P.O. Box 1600, Port Elizabeth, 6000, South Africa ²Senior Lecturer in Cost and Management Accounting, Faculty of Economic and Building Sciences, University of Port Elizabeth, P.O. Box 1600, Port Elizabeth, 6000, South Africa Costs not directly attributable to or recoverable from...
    4,639 Words | 15 Pages
  • Cost and Price - 974 Words
    Economics Discussion Questions 1. Suppose the price of coffee beans increases by $0.20 per pound. What is the effect of this raw material price increase on the demand for roasted coffee? If one pound produces 50 cups of coffee, would the price of a cup of coffee rising by $0.01? Explain. Price of the product comes from the production of the goods all the way till it hits the market shelf. So when the price of the product like coffee increases during the productivity of the product then...
    974 Words | 3 Pages
  • Cost and Overhead - 1512 Words
    fsdfsdsdfSuppose sales in 2001 equal 26,000 units, as budgeted in January, and that actual manufacturing expenses turn out to equal budgeted expenses. Prepare an income statement for the year (just include the manufacturing expenses) that will help senior management and the board understand the economics of cartridge production in 2001. 5. Work through the Youngstown Products numerical example (below). Youngstown Products, a supplier to the automotive industry, had seen its operating...
    1,512 Words | 7 Pages
  • Cost Questions - 377 Words
    Chapter 8 Cost Estimation and Budgeting True/False 1) Direct costs are those clearly assigned to the aspect of the project that generated the cost. T 2) Material is an example of a cost that is recurring, variable and direct. T Multiple Choice 1) Which of the following is a direct cost? A) labor B) rent C) depreciation on equipment D) health benefits 2) Workers paid $15.00 per hour with an overhead charge of 1.45 and a personal time allowance of 1.15, have what total direct labor...
    377 Words | 2 Pages
  • Cost Benefits - 483 Words
    Cost Benefit Analysis What is cost benefit analysis? Cost benefit analysis (COBA) is a technique for assessing the monetary social costs and benefits of a capital investment project over a given time period. The principles of cost-benefit analysis (CBA) are simple: 1. Appraisal of a project: It is an economic technique for project appraisal, widely used in business as well as government spending projects (for example should a business invest in a new information system) 2....
    483 Words | 2 Pages
  • Cost Leader - 899 Words
    Cost Leadership: Any organization in order to survive in a highly competitive market should be able to achieve sustainable growth and profitability. Companies that have managed to reduce costs and understand the cost technology can obtain sustainable advantage as a cost leader. In order for any company to become a cost leader is important that the cost technology is understood and the five constituent steps are implemented and followed by the management. The five steps towards...
    899 Words | 3 Pages
  • Cost Allocation - 1092 Words
    Cost allocation for indirect costs Cost Pool – Set of costs that are added together before being allocated to cost objects on some common basis Cost Driver/ Allocation base Cost Object Cost Driver Rate = Total Costs in Pool/ Total Quantity of Driver Where total quantity of driver = practical capacity of driver Cost of excess capacity = Cost Driver Rate * Excess capacity Predetermined overhead rate - cost per unit of the allocation base used to charge overhead to products....
    1,092 Words | 5 Pages
  • cost accounting - 4544 Words
    L-S, T & H, Chapter 4: RQ4.1, RQ4.3, RQ4.5, RQ4.7, RQ4.8, RQ4.9, RQ4.10, RQ4.11, RQ4.14, RQ4.15, RQ4.18, RQ4.20 E4.21, E4.25, E4.26, P4.33, P4.36, P4.37 and P4.40. RQ4. 1 Identify the major purposes of product costing. For each purpose discuss whether information about current or future product costs is required. What implication does your answer have for developing a product costing system? L-S, T & H, page 131. Purpose Current / Future Product Costs Short-term decisions: product mix,...
    4,544 Words | 32 Pages
  • Variable Costs - 1487 Words
    IE401-Econ401 MidTerm Managerial Economics NAME: Each of the 20 multiple choice questions is worth 3 points. Mark your answers on the ANSWER KEY on page 5. Also provide BRIEF answers to each of the 4 “essay type/logical” questions. Multiple-Choice Questions 1. A manufacturer produces 1,000 basketballs each day, which it sells to customers for $30 each. All costs associated with production and sales total $10,000; however, if the manufacturer were to produce...
    1,487 Words | 9 Pages
  • Accounting Costs - 690 Words
    Sunk Cost-cost that has already been incurred and cannot be avoided no matter what a manager decides to do. A business segment should only be dropped if a company can avoid more in fixed costs than it loses in: contribution margin Which of the following techniques describe how a bottleneck should be managed: Find ways to increase the capacity of the bottleneck, ensure there is minimal lost time at the bottleneck due to breakdowns and set-ups, focus business process improvement efforts on the...
    690 Words | 2 Pages
  • Cost Estimating - 1516 Words
    Project managers must take cost estimates seriously if they want to complete software projects within budget constraints. After developing a good resource requirements list, project managers and their software development teams must develop several estimates of the costs for these resources. There are several different tools and techniques available for accomplishing good cost estimation. Software development project managers should prepare several types of cost estimates for most projects....
    1,516 Words | 5 Pages
  • Cost Structure - 332 Words
    Like any large business, WaMu relies upon a pre-determined cost structure to account for and control expenses. WaMu primarily realizes transaction costs, fixed costs, and variable costs. Because WaMu doesn’t provide free services per-say, the sunk costs of the structure are fairly minimal. Transaction costs constitute the next smallest portion of WaMu’s cost structure. WaMu is free of infrastructure based transaction costs like those that smaller retailers who use point of sale services...
    332 Words | 1 Page
  • Cost Control - 44939 Words
    COSTING SUPPORT AND COST CONTROL IN MANUFACTURING A COST ESTIMATION TOOL APPLIED IN THE SHEET METAL DOMAIN PROEFSCHRIFT ter verkrijging van de graad van doctor aan de Universiteit Twente, op gezag van de rector magnificus, prof.dr. F.A. van Vught, volgens besluit van het College voor Promoties in het openbaar te verdedigen op vrijdag 3 mei 2002 te 15.00 uur. door Erik ten Brinke geboren op 15 maart 1973 te Hardenberg Dit proefschrift is goedgekeurd door: de promotor prof.dr.ir....
    44,939 Words | 156 Pages
  • Cost Audit - 647 Words
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  • Cost Accounting - 4228 Words
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  • Costs and Performance - 1880 Words
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  • Transaction Cost - 2302 Words
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  • Cost Accounting - 1175 Words
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