Direct Cost 2. Indirect Cost 3. Cost Object 4. Cost Driver 5. Cost Allocation 6. Cost Sheet 7. Semi variable cost 2. Write a detailed note on Target Costing. (DEC‚ 2010) 3. Write a note on methods of absorption of overheads. (DEC‚ 2010) 4. Write a note on classification of overheads. (DEC‚ 2010) 5. Write short notes on the following: i. Product Costs ii. Period costs iii. Out of pocket cost iv. Sunk Costs v. Opportunity cost vi. Replacement cost vii. Joint cost (DEC‚ 2011)
Premium Costs Management accounting Cost accounting
1/ Variable Costs: The variable cost will be 40% higher [ an increase of 21‚000 - 15‚000=6‚000 units] Direct Material used 1‚060‚000 Variable Costs: Direct Labor 1‚904‚000 Direct material used [ 1‚060‚000 *1.4] 1‚484‚000 Unit costs [ 6‚335‚600 / 21‚000] =$ 301.7 Indirect Materials and supplies 247‚000 Direct Labor [ 1‚904‚000 * 1.4] 2‚665‚600 Variable Cost/ Unit = 228.27 at both 15k & 21k units Power to run plant eqip 213‚000 Indirect Materials
Premium Variable cost Costs Fixed cost
Conceptual Framework Cost Accounting Cost accounting‚ as a tool of management‚ provides management with detailed records of the costs relating to products‚ operations or functions. Cost accounting refers to the process of determining and accumulating the cost of some particular product or activity. It also covers classification‚ analysis and interpretation of costs. The cost so determined and accumulated may be the estimated future costs for planning purposes‚ or actual (historical) costs for evaluating
Premium Cost accounting Costs Management accounting
to consumers must also be safe‚ and not just for legal reasons. If you are in the food industry and you sell rotten food to a customer‚ it can lead to issues for that person. Similarly‚ if you sell an electronics device that has not passed safety inspections‚ it can lead to safety issues for the consumer‚ like an electrical fire or shock. Malfunctioning or unsafe products are a threat in almost every industry‚ and could lead to dangerous
Premium Quality management Quality assurance Management
Company Analysis ROOTS Industries Ltd. is a leading manufacturer of HORNS in India and the 11th largest Horn Manufacturing Company in the world. Headquartered in Coimbatore - India‚ ROOTS also plays a dominant role in the manufacture of Horns and other products like Castings and Industrial cleaning machines. Roots Industries Limited has occupied a key position in both international and domestic market as suppliers to leading OEMs. Roots’ has a strong quality system as its base. RIL is the first
Premium Manufacturing Industry
Manufacturing Industry in Bangladesh and Malaysia Bangladesh economy achieved an economic growth of 5.8% during 2000-2009. The economy is rapidly growing. The per capita income in 2010 was around $1‚700. Garment industry dominates Bangladesh‚ which grew at double-digit rates through most of the 1990s. About 1.5 million people‚ mostly women‚ were employed in the garments sector by late 1990s. Bangladesh’s export was dominated by garments. It represented around 52% of Bangladesh’s total exports worth
Premium Manufacturing Economics Industry
range of accounting application is expanding rapidly‚ along with the increasing demand of economic market. As is well known‚ accounting is a key aspect of business. And in the accounting profession‚ there has been already existed interpenetration and overlapping among the different kinds of accounting. Cost accounting and financial accounting are two main components of accountancy. The former one is a part of accounting. In cost accounting‚ it dramatically researches the variable cost‚ fixed cost‚ overheads
Premium Income statement Balance sheet Management accounting
Strategic Management Major Assignment -Analysis on Teva Pharmaceutical Industries Ltd. 1. Introduction 1.1 Teva at a Glance Founded in 1901‚ Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was formed by three young pharmacists in Jerusalem‚ Israel. Teva is a leader in the global pharmaceutical industry: one out of every seven prescriptions in the US and one out of every six prescriptions in the UK is filled with a Teva product. Ranking among the top 10 pharmaceutical companies in the world‚ it
Premium Generic drug Pharmaceutical industry
Types of costs Classification of costs: • Materials – costs of raw materials‚ components and other goods used. • Labor – cost of employees wages and salaries. • Expenses – costs which cannot be included in materials and labor. Variable costs – these costs varies directly with changes in the level of quantity‚ over a defined period of time. Fixed costs – are not affected by the changes in the level of activity‚ over a defined period of time. Semi variable costs – for example
Premium Marginal cost Variable cost Costs
a. Did Altex need a new system? (What are the most critical problems facing Altex at the takeover? what does Ted see as the purpose of a control system? Did Altex meet their objectives?) Yes‚ Altex really need a new system‚ because Altex is facing some critical problems at the takeover by Ted and Franck. The first most critical problem is the actual management system: the system in place was one accountant (Sarah Arthur) who kept everything in her head. The system was incomprehensible and complicated
Premium Management Control Decision making