CHAPTER 6 COST BENEFITS AND ANALYSIS 6.1 Costing for the Current System 6.1.1 Cost of Labor Professional Rate 1 Payroll Manager 93.75/hr 750/day 15‚000/month 1HRD Assistant 81.25/hr 650/day 13‚000/month Total Php 23‚000/month 6.1.2 Supplies Price Total Supplies (Annual) Bond paper - Short Bond Paper 1500pcs. 1.00 each 1500.00 - Long Bond Paper 1500pcs. 2.00 each 3000.00 Stapler 6pcs. 125.00 each 750.00 Staple 50 boxes 20
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2.1 Strategic Cost Management and the Value Chain Introduction This article by John K. Shank and Vijay Govindarajan discuss in depth on the Strategic Cost Management (SCG) and the Value Chain concept applied in real world situation from the airline industry. The Value Chain concept is divided into two (2) main strategies which are the Low-Cost Strategy and Differentiation Strategy. From the article also‚ Shank and Govindasamy stated that the primary focus of a low cost strategy is to achieve the
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Contributed January 30‚ 2002 by Sivanesan Sivakaruniam siva@kepland.com.sg Audit Program: Food & Beverage Cost Control Objective: Prepared By Date To ensure food and beverage cost incurred is reasonable‚ properly supported and accounted for. : _______________________ : _______________________ Audit Steps 1. a • • • • • • • • Purchase Quotation Ensure vendors selected are approved by management. Ensure vendor list is periodically reviewed by management. Ensure purchase request is properly approved
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MIT ICAT Operating Costs and Productivity Measures Dr. Peter P. Belobaba 16.75J/1.234J Airline Management February 15‚ 2006 MIT ICAT DOT Form 41 • Form 41 contains traffic‚ financial‚ and operating cost data reported to the DOT by US Major airlines – Data is reported and published quarterly for most tables – Detail of reporting differs for different expense categories • Aircraft operating expenses by aircraft type and region of operation • Other expenses more difficult to allocate
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Executive Summary Detail here one paragraph for each weakness: • One sentence for the weakness • One sentence for the recommendation • One sentence for the costs and benefits. 4 Introduction This section covers 4 areas and should be written about the organisation as a whole not just the key area you will focus on later:- Overview of Business (cover PIC 1.1‚ 1.3‚ 1.4) What do they do? How big are they? What external relationships do they have? Who are the key stakeholders
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The two types of cost estimating techniques that I am going to compare and contrast are parametric procedures applied to specific tasks and phase estimating. These two techniques are a part of bottom-up approaches but apply processes from top-down approaches. They both use techniques that allow for estimating projects by breaking down into sections. In comparison the parametric procedures breaks the projects down into specific tasks and the phase estimation breaks the projects down in a time line
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budget can be prepared for any level of activity‚ but once a budget is set the budget figures are not changed if actual activity later proves to be different than budgeted activity. True False 2. In a performance report‚ actual costs should be compared to budgeted costs at the original budgeted activity level. True False 3. The overhead spending variance and the overhead efficiency variance are useful only if variable overhead really should be proportional to the activity measure that is being
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Definition and Explanation of Quality Costs: The concept of Cost Of Quality (COQ) has been around for many years. Dr. Joseph M. Juran in 1951 in his Quality Control Handbook included a section on COQ. The Quality Cost Committee under the Quality Management Division was established by the American Society for Quality (ASQ) in 1961. However it was Philip B. Crosby who popularized the use of COQ because of his book Quality is Fre in 1979. Several current quality system standards‚ ISO 9000‚ QS-9000
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JUST-IN-TIME‚ AND SIMPLIFIED COSTING METHODS 20-1 Cost of goods sold (in retail organizations) or direct materials costs (in organizations with a manufacturing function) as a percentage of sales frequently exceeds net income as a percentage of sales by many orders of magnitude. In the Kroger grocery store example cited in the text‚ cost of goods sold to sales is 76.8%‚ and net income to sales is 0.1%. Thus‚ a 10% reduction in the ratio of cost of goods sold to sales (76.8 to 69.1% equal to 7.7%)
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Using the Cost of Poor Quality to Drive Process Improvement March ‚ 2006 Presented by: Dan Olivier‚ Certified Software Solutions‚ Inc. (dolivier@certifiedsoftware.com) Javad Seyedzadeh‚ Bayer Healthcare Diagnostic Division (javad.seyedzadeh.b@bayer.com) Page - 1 Objectives: To Understand COPQ 1. What is COPQ 2. Elements of the model 3. Calculating COPQ 3. Real World Applications 4. Implementing Improvement actions Page - 2 1. COPQ Introduction 1. COPQ Introduction Page
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