production requirements for GX1 are as follows: Materials: Three types of material are used in production: Amount Cost Resale Current used per unit price value price to buy Material A 12kg £2.50 £1.00 £2.75 Material B 4kg £7.00 £5.50 £8.50 Material C 6kg - £6.50 - Material A is used extensively throughout the company’s range of products. Current stocks are 40‚000kg and it is freely available in the market. Material B is used infrequently. The company has 3
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and resistant to moisture and processing chemicals‚ while remaining mechanically strong‚ resistant to tearing‚ flexible‚ and dimensionally stable. Three plastics have been widely used as a motion picture film base: • Cellulose nitrate was the first material used. Discontinued in the 1950s because it was highly flammable‚ cellulose nitrate is chemically unstable if stored in conditions that are too damp (it can decompose) or too hot (it can self-ignite). • Cellulose acetates were developed to replace
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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 bottleneck
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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 business
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Organizing Study Materials Quinn Gilronan CG 101/111 Brown May 7th‚ 2013 In order to do well throughout college‚ certain steps are necessary to create a firm grasp on the information you take in while in class. Simply being in class every day won’t be enough to prepare you for quizzes and exams. In the last paper‚ note taking was shown to have a very important role in your success in college. The ability to organize study materials (I.E. Notes‚ textbooks‚ old tests and quizzes)
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The Costs of Production Production and Costs Costs in the Short Run Fixed Costs Implicit Costs Explicit Costs Variable Costs Average Costs Marginal Costs The Symmetry Between Production and Costs Total Product and Total Cost Curves Geometry of Average and Marginal Costs Curves Average Physical Product and Average Variable Costs Marginal Physical Product and Marginal Cost Costs in the Long Run Isocost Lines Cost Minimization The Expansion Path and the Long Run Total Cost Curve Average Cost and
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Overview Welcome to the study of cost accounting. This introductory chapter explains the intertwining roles of managers and management accountants in choosing an organization’s strategy‚ and in planning and controlling its operations. Unlike the remainder of the textbook‚ this chapter has no “number crunching.” Its main purpose is to emphasize the management accountant’s role in providing information for managers. Review Points organization. Cost accounting provides information
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2 Cost Terms‚ Concepts‚ and Classifications Learning Objectives LO1. Identify and give examples of each of the three basic manufacturing cost categories. LO2. Distinguish between product costs and period costs and give examples of each. LO3. Prepare an income statement 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
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awkward spaces with castables. Large blocks tend to crack as a result of something called heat differences in material‚ or temperature differences in material in other words‚ which is a very powerful natural phenomena. But hey no worries Mate‚ we still have firebricks here luckily (firebricks those nice little fragments) for making the dome part properly (read more about heat differences in materials - basically it deals with shrinking of cooled down edges and also surfaces while middle’s still hot expanded)
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Material Review Board (MRB) ------------------------------------------------- Top of Form Quick Link Bottom of Form Scope This procedure covers determining the disposition of MRB material and identifying corrective action to prevent future discrepancies. Policy The Material Review Board (MRB) consists of representatives from the following departments: * Manufacturing Engineering * Materials * Quality * Purchasing Only the Material Review Board (MRB) can disposition material
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