1. The chief economist for Argus Corporation‚ a large appliance manufacturer‚ estimated the firm’s short-run cost function for vacuum cleaners using an average variable cost function of the form. AVC= a + bQ+ cQ^2 (the 2 is suppose to be exponent) Where AVC=dollars per vacuum cleaner and Q=number of vacuum cleaners produced each month. Total fixed cost each month is $180‚000. The following results were obtained: Dependent Variable:AVC R-Square
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INDIA. *Corresponding Author : jyotimbaicfai@gmail.com ABSTRACT Today is the era of globalization. IFRS is spreading its wings and India is not the exception. In India IFRS is being implemented in phased manner. Till now it has been made mandatory for some specific group of listed companies. Although many countries of the world have been benefitted after implementing IFRS‚ it is both threat and opportunity for India. Indian companies have various challenges and issues to implement IFRS. The biggest challenge
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accounting profits and economic profits for Gomez’s pottery. Explicit costs: $37‚000 (= $12‚000 for the helper + $5‚000 of rent + $20‚000 of materials). Implicit costs: $22‚000 (= $4‚000 of forgone interest + $15‚000 of forgone salary + $3‚000 of entreprenuership). Accounting profit = $35‚000 (= $72‚000 of revenue - $37‚000 of explicit costs); Economic profit = $13‚000 (= $72‚000 - $37‚000 of explicit costs - $22‚000 of implicit costs). 8-4 (Key Question) Complete the following table by calculating
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world‚ humans have been searching for their own “good life”. What each person’s good life is and what it takes to attain that life differs greatly across all aspects of humanity‚ causing it to require much time and effort for each person to discover their concept of a good life. This makes sense because of the vast differences in beliefs‚ experiences‚ and opinions that also play a part in constructing a large gap in social and financial statuses. For every human the sacrifices and benefits that come
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Desalination 223 (2008) 448–456 Water desalination cost literature: review and assessment Ioannis C. Karagiannis*‚ Petros G. Soldatos Agricultural University of Athens‚ Department of Agricultural Economics & Rural Development‚ 75 Iera Odos Street‚ GR 11855 Athens‚ Greece Tel. +30 210 5294769; Fax +30 210 5294776; email: i.karagiannis@aua.gr Received 21 December 2006; accepted 28 February 2007 Abstract As water resources are rapidly being exhausted‚ more and more interest is paid to the desalination
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Budgeted Production Cost and Variance Analysis. At the beginning of 2011‚ Jejemon Corporation adopted the following standards: Direct Materials (3 lbs. @ P2.50 / lb) P 7.50 Direct Labor (5 hours @ P7.50 / hr) 37.50 Factory Overhead: Variable (P3.00 per direct labor hour) 15.00 Fixed (P4.00 per direct labor hour) 20.00 Standard Cost per unit P 80.00 Normal volume per month is 40‚000 standard labor hours. Jejemon’s january budget was based on normal volume. During January
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Structure Setting and Adjustment | Definition | A pay structure is a collection of pay rates or pay ranges.Structure setting and adjustment is the process of developing‚ adjusting‚ and maintaining a pay structure. | Purpose | Pay structures are used to help organizations: * maintain pay levels that are competitive with the external labor market‚ * maintain internal pay relationships among jobs‚ * recognize and reward differences in level of responsibility‚ skill‚ and performance‚ and
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Cost Control and Cost Reduction A business enterprise must survive‚ grow‚ and prosper. Cost Control and Cost Reduction are activities necessary for ensuring that these objectives are fulfilled. With the liberalization of the Indian Economy and Globalization‚ there is now a cut throat competition from various concerns of the world. As a result there is now a race to secure a place for survival. This has increased the importance of cost control and Cost Reduction. Cost Control “Cost control
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ASSIGNMENT ON COST CONTROL AND COST FREDUCTION SUBMITTED BY‚ MOHAMMED NAFAISE E.K ROLL NO: 1600 COST CONTROLL & COST REDUCTION COST CONTROL The practice of managing and/or reducing business expenses. Cost controls starts by the businesses identifying what their costs are and evaluate whether those costs are reasonable and affordable .Then if necessary
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products. Chuck questioned if the current cost-management system was providing the management with accurate data about product costs. In a traditional‚ volume-based product-costing system‚ only a single predetermine overhead rate is used. All manufacturing-overhead costs are combined into one cost pool‚ a grouping of individual indirect cost items‚ and they are applied to products on the basis of a single variable that costs over a given time span (cost driver) that is closely related to production
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