of the product. Larson can also differentiate its product by quality and eco friendliness. Larson could also control and own resources to the production of the process and this will cause a block for competitors Larson can also put patents and licenses on his products. “A patent is the exclusive right of an inventor to use‚ or to allow another to use” (McConnell‚ Brue‚ & Flynn‚ 2009‚ p. 203). This will cause other competitors limited ideals and room to match or copy Larson’s product. If anything
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7 Ways to Reduce Cost August 7‚ 2007 By Ron Pereira 4 Comments I finished the book Gemba Kaizen by Masaaki Imai. It was quite good and I highly recommend it. It is chalk full of excellent tips like 7 ways to reduce costs in gemba (as Mr. Imai phrases it). They are: 1. Improve Quality: Imai stresses how good quality is a prerequisite to making lean work. He even speaks about things like control charts which you don’t find mentioned in many lean books. 2. Improve Productivity: Productivity
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between marginal cost and marginal product. Marginal cost is the additional cost attributed to an additional unit produced. Marginal product is the increase in the total product due to an additional resource allocation. The marginal cost and marginal return have an inverse relationship and can almost be represented as mirror images of each other. The peak of the marginal product corresponds with the lowest point of the marginal cost. Thus as marginal product increases
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Rainbow Technologies Profile 2010 Page 1 of 24 Rainbow Technologies Company Profile Offices Durban +27 82 443 0007 peterc@rainbowtech.co.za PO Box 1001 Wandsbeck 3631 Richards Bay +27 83 269 1268 hugos@rainbowtech.co.za PO Box12240 Empangeni‚ 3880 Web Site : www.rainbowtech.co.za Rainbow Technologies Profile 2010 Page 2 of 24 INDEX 1. GENERAL ______________________________________________________________3 2. PRODUCTS & SERVICES ______________________________________________4 2.1
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Questions 1. What will CCI now have to charge for each product to make a 40% mark-on? If CCI maintains its rule about dropping products with a mark-on below 25%‚ which additional products‚ if any‚ will it drop? To have a charge for each product‚ first the standard costs are calculated‚ based on the new allocation rate ($10.36): |Product |B |C |D | |Material |5‚00 |10‚00 |5‚00 | |Labor
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Product and Service Costs Output represents one of the most important cost objects. There are two types of output: products and services. Products are goods produced by converting raw materials through the use of labor and indirect manufacturing resources‚ such as the manufacturing plant‚ land‚ and machinery. Televisions‚ hamburgers‚ automobiles‚ computers‚ clothes‚ and furniture are examples of products. Services are tasks or activities performed for a customer or an activity performed by a customer
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Determining Product Cost Managerial accountants must decide what types of managerial accounting information to provide to managers‚ how to measure such information‚ and when and to whom to communicate the information. For example‚ when making most strategic and operating decisions‚ managers typically rely on managerial accounting information that is prepared in whatever manner the managerial accountant believes provides the best analysis for the decision at hand. However‚ there is one major exception
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1) The cost of production for the mixing Department for the month of January 2010. (showing clearly the physical Units‚ Equivalent production Uniot and the cost assignment and cost analysis. 1 (a) Equivalent Flow of Production Physical units Direct Material Conversion Cost Work in Process‚ Beg. Jan. 1‚ 2010 - Started during the current period 5‚000.00 Total cost to be accopunted for 5‚000.00
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2.4.1 Practices to Reduce Ventilation Costs Ventilation can account for 30-40% of the total energy operating cost in mines (Mining‚ n.d.). That being said‚ the slightest amounts of change within this aspect of the mines can make a significant difference in costs. One of the biggest trends in the mining industry as of late is to switch from the conventional diesel-powered equipment to the newer electric powered machines offered on the market. This switch can make a significant impact on the ventilation
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INNOVATION ANALYSIS NIPPON PAINT CO. CASE OF ODORLESS PAINT PRODUCT Introduction 1. Purpose: In recent years‚ Innovation becomes one of the most important parts in the existence and development of every company. There are many research was establish to analyze the way to make an innovation‚ not only for the research’s purpose but also to help the managers of small companies can follow the bigger. This assignment was done to analyze a new product of one of the biggest paint manufacturers in the
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