CHAPTER 3 ACTIVITY COST BEHAVIOR LEARNING OBJECTIVES AFTER STUDYING THIS CHAPTER‚ YOU SHOULD BE ABLE TO: 1. Define and describe fixed‚ variable‚ and mixed costs. 2. Explain the use of the resources and activities and their relationship to cost behavior. 3. Separate mixed costs into their fixed and variable components using the high-low method‚ the scatterplot method‚ and the method of least squares. 4. Evaluate the reliability of the cost formula. 5. Explain how multiple regression
Premium Management Strategic management Culture
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
Premium Cost Cost accounting Costs
Recreation centers are amazing for a community. They bring in people of the community to be a part of activities. Jonestown‚ Pennsylvania is my home town. Living in this town is very boring because there’s not a lot to do unless you go into the city of Lebanon. I always wanted to have something like a recreation center a little closer after I went to the YMCA in Lebanon. It is an amazing atmosphere for all ages and it brings the community together and that is why my design is building a recreation
Premium Basketball
compromising standards of labor performance. (T) 4. Increases in sales volume tend to improve labor productivity. (T) * As his efficiency increase‚ the cost of labor per unit produced actually decrease. * Increase in sales volume results in greater employee efficiency at lower labor cost per unit 5. The key to successful labor cost control is paying the lowest possible dollar wage.(F) May use of part-time staff‚ outsourcing 6. The local minimum wage is an amount set by a group of
Premium Costs Variable cost Employment
OF SPAIN Research Paper on Socio-Cultural Variables and Drugs An Assignment Presented in Partial Fulfilment of the Requirements for the Course PSYC460: PSYCHOLOGY OF ABNORMAL BEHAVIOUR INSTRUCTOR: Mr Clyde Best By Khadyne Klassie Andrews 2 December 2010 Approval………………. TABLE OF CONTENTS Question: What socio-cultural variables continue to effect drug use today? How has this changed from some previous socio-cultural variable that have influenced drug use in the past? i
Premium Recreational drug use Illegal drug trade Drug
CHAPTER 6 COST BEHAVIOR TYPES OF COST BEHAVIOR PATTERNS 1. Variable Cost 2. Fixed Cost 3. Mixed / Semi-variable Cost Cost Structure – the relative proportion of fixed‚ variable‚ and mixed costs found within an organization or firm. 1. Variable Cost - its total dollar amount varies in direct proportion to changes in the activity level. Example: Number of Trucks Radiator Cost per Total Radiator
Premium Variable cost Costs Management accounting
Liquor industry-In 2013… India is the 3rd largest liquor market in the world. One of the fastest growing markets in the world‚ on the back of demographics & economy. The overall retail market size of liquor is ~$35 billion per annum. Strong MNC presence with Diageo‚ Beam Global‚ Pernod Ricard‚ Heineken‚ SAB Miller‚ Carlsberg and more. There are 3 broad categories – IMFL (Indian Manufactured Foreign Liquor which includes whiskey‚ rum‚ brandy‚ vodka & gin)‚ Beer and Country Liquor (cheaper‚ spiced
Premium Alcoholic beverage
Zumba Zumba is a dance fitness program created by Colombian dancer and choreographer Alberto "Beto" Perez during the 1990s. Zumba involves dance and aerobic elements. Zumba’s choreography incorporates hip-hop‚ soca‚ samba‚ salsa‚ merengue‚ mambo and martial arts. Squats and lunges are also included. Zumba Fitness‚ an organization that sells Zumba videos and products‚ does not charge licensing fees to gyms or fitness centers. Approximately 14 million people take weekly Zumba classes in over 140‚000
Premium Dance Aerobic exercise Physical exercise
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
Premium Costs Variable cost Total cost
Cost Accounting: A Managerial Emphasis‚ EXHIBIT 11-1 Accounting Information and the Decision Process FIVE-STEP SEQUENCE Step 1: Gathering Information AN ILLUSTRATION The current manufacturing line uses 20 employees‚ 15 operating machines‚ and 5 handling materials‚ for a total cost of $640‚000. The rearrangement of the manufacturing assembly line is expected to eliminate materials-handling costs‚ equivalent to $160‚000. The cost of the rearrangement will be $90‚000. Historical
Premium Costs Variable cost Cost