manufacturing cost categories. LO2 Distinguish between product costs and period costs and give examples of each. including calculation of the cost of goods sold. LO4 Prepare a schedule of cost of goods manufactured. LO5 Understand the differences between variable costs and fixed costs. LO6 Understand the differences between direct and indirect costs. LO7 Define and give examples of cost classifications used in making decisions: differential costs‚ opportunity costs‚ and sunk costs. LO8
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Citigroup Newsroom Citi Names Brian Leach Chief Risk Officer Press Release‚ February 27‚ 2008 New York – Citi today announced that Brian Leach will assume the role of Chief Risk Officer for Citi‚ reporting to Chief Executive Officer Vikram Pandit. Mr. Leach will also become Acting Chief Risk Officer for the Institutional Clients Group. In addition‚ the company named four new senior managers to the Risk organization – Suneel Bakhshi‚ Charles Monet‚ Greg Hawkins‚ and Adil Nathani – all reporting
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Average Variable Cost : 2002 $1‚011‚008** **$417‚004+$124‚101.20+$117‚903+$351‚000 2003 1‚142‚681.00** ** $520‚069+$171‚622.70+$79‚888+$371‚101 2004 1‚798.131.00 ** ** $915‚787.50+$320‚525.52 +$115‚999+$445‚819 Total $3‚951‚820.00 No.of Years 3 Average VC $1‚317‚273.00 Average Customers 8‚202.00 Average VC per unit $161.00 Fixed Cost $174‚000
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Quaid-e-Azam Muhammad Ali Jinnah and Pir Amin-ul-Hasanat of Manki Sharif Israj Khan1 Toheeda Begum2 The North West Frontier Province (now Khyber Pakhtunkhwa) has a unique place in the history of Pakistan Movement. In the beginning of the twentieth century marked the inclusion of political realization in the frontier. Some educated young blood took its first formal manifestation in 1912 and the formation of Provincial Muslim League took place at Peshawar (Khattak‚ 1998‚ January-June-3). The
Free Pakistan Muhammad Ali Jinnah Indian National Congress
Account Management - How to Manage Accounts to Maximize Sales This article answers the following questions: 1) What is Account Management? 2) What skills and talents are required to excel in Account Management? 3) What activities must be performed to maximize Account Management return on investment? Enlarge Image Congratulations! You successfully sold one or more of your company’s products or services to a business unit‚ department‚ or division of a large organization. Now your manager has
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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 particular
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Classification of Cost Cost may be classified into different categories depending upon the purpose of classification. Some of the important categories in which the costs are classified are as follows: 1. Fixed‚ Variable and Semi-Variable Costs The cost which varies directly in proportion with every increase or decrease in the volume of output or production is known as variable cost. Some of its examples are as follows: • Wages of laborers • Cost of direct material • Power The cost which does
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COST CLASSIFICATION CONCEPT OF COST: DEFINITION: A SACRIFICE OR GIVING UP OF RESOURCES FOR A PARTICULAR PURPOSE FREQUENTLY MEASURED BY THE MONETARY UNITS (RUPEES‚ DOLLARS) THAT MUST BE PAID FOR GOODS AND SERVICES . ➢ EMPHASIS ON COST INFORMATION: MANAGEMENT ACCOUNTANTS PAY A LOT OF ATTENTION TO COSTS BECAUSE COST HAVE A VITAL ROLE TO PLAY IN PLANNING ‚ EVALUATING AND DECISION MAKING. FOR EXAMPLE IN PLANNING THE ROUTE AND FLIGHT SCHEDULES THE MANAGER OF AN AIR LINE MUST CONSIDER
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Costs of Production July 2011 Topics to be Discussed Measuring Cost: Which Costs Matter? How do Cost Curves Behave? – Cost in the Short Run – Cost in the Long Run How to Minimize Cost? How to draw Implications for Business Strategy? Topics to be Discussed Production with Two Outputs: Economies of Scope Dynamic Changes in Costs: The Learning Curve Estimating and Predicting Cost Measuring Cost: Which Costs Matter? Accountants tend to take a retrospective view of firms’ costs‚ whereas
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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 other
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