have a sound knowledge of cost behaviour ie fixed costs‚ variable costs‚ semi-variable costs and sunk costs. Answer: Understanding cost behaviour helps manager in anticipation of changes in cost when there is a change in their activities like production‚ sales‚ inventory pile up etc. It provides good assistance in planning‚ cost management and decision making. A number of behaviour patterns exist ranging from fixed to variable and from linear to curvilinear. Many cost predictions techniques are
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Introduction to Marketing Assessment | Niche Market | | Niche‚ noun: a distinct segment of a market. A niche market is built in the market and focus on a specific product. So the market niche defines the specific product features aimed at their satisfying specific needs in market‚ and price range‚ production quality‚ as well as the demographics that is to be impacted. (wikipedia‚ 2007) Niche market is a more narrowly defined group which basis on getting interests. In a nutshell‚ niche marketing
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Ritz-Carlton‚ Courtyard and Residence Inn. The hotel provides additional benefits and points to frequent and business travelers making loyal customers. Marriot Hotel near Heathrow international airport is a four star hotel located in A4 near terminal 1 and 3 targeting tourist and travelers from all around the world. The world class services and excellent customer service make the brand very popular among the passengers. (History of Marriot‚ 2012) Tuscany Ristorante Tuscany Ristorante is very popular Italian
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STANDARD COSTS Setting a budget is never easy as it involves predicting the future and therefore uncertainty. The process is not about getting the budget absolutely right; it is about not getting it too wrong. This budget process may be applied to most revenue budgets that deal with income and costs‚ but there is also a requirement to produce a capital budget that covers the purchase‚ sale and replacement of fixed assets. There is normally an investment limit dictated by funding availability and
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the change of delivery date would affect the bottom line price of the widget‚ therefore considered big deal‚ a consent is need in writing for this modification to be binding‚ therefore this modification is not binding 2. In Question 1‚ what effect‚ if any‚ would the following telegram have? International Widget: In accordance with our agreement of this date you will deliver the one thousand previously ordered widgets within thirty days. Thank you for your cooperation in this matter. (signed)
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Explain the principles behind cost benefit analysis. Is the use of cost benefit analysis essential in the appraisal of public spending? Discuss this in the light of a transport capital expenditure project with which you are familiar. Cost–benefit analysis is often used by governments to evaluate the desirability of a given intervention. It is an analysis of the cost effectiveness of different alternatives in order to see whether the benefits outweigh the costs. The aim is to gauge the efficiency
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Hi Students‚ I would like you to study this problem and the solution to help in the preparation of your case study question on cost classification. Keith PRACTICE PROBLEM AND SOLUTION Given the following‚ prepare manufacturing statement and partial income statement. Raw materials inventory 1/1/05 8‚000 Raw materials inventory 12/31/05 5‚000 Work in process inventory 1/1/05 2‚000 Work in process inventory 12/31/05 3‚000 Finished goods inventory 1/1/05 15‚000 Finished goods inventory
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Practice Questions and Answers from Lesson III-3: Monopoly Practice Questions and Answers from Lesson III-3: Monopoly The following questions practice these skills: Explain the sources of market power. Apply the quantity and price affects on revenue of any movement along a demand curve. Find the profit maximizing quantity and price of a single-price monopolist. Compute deadweight loss from a single-price monopolist. Compute marginal revenue. Define the efficiency of P = MC. Find the
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7.1 Target Market The target market for Fitness Network is the youth‚ students‚ and working populations. They are the majority groups that are health conscious and will frequent gyms in Singapore. This is said because research has been done and studies have shown that since they are youth‚ they have a lot of time on their hand and they are willing to pay the extra money to fill their time by doing something useful. Also parents would gladly agree to give money for them to join the gym because it
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Critically evaluate the role of the Eurodollar market in the development of the contemporary global financial system Burn – 1999 * Eurodollar market – established in City of London in 1950s – considered progenitor of global financial system * Marked beginning of a movement away from restrictions placed by Bretton woods system on international capital movements and return to liberal internationalism and laissez-faire order of private and central bankers that ended with collapse of gold
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