Review Question #3 Principles of Microeconomics Spring 2010 1. Your cousin Vinnie owns a painting company with fixed costs of $200 and the schedule for variable costs as below. What is the efficient scale of the painting company? Quantity of Houses Painted per Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Variable Costs | $10 | $20 | $40 | $80 | $160 | $320 | $640 | 2. Your aunt is thinking about opening a hardware store. She estimates that it would cost $500‚000 per year to rent the location
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Assignment 2 (20 points) Assignment 2: Costs and Profit Instructions Save this file in your course folder‚ and name it with Assignment‚ the section number‚ and your first initial and last name. For example‚ Jessie Robinson’s assignment for Section 1 would be named Assignment1JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day‚ be sure to save your
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G Different Methods for Cost Estimation Expert Judgment Method Expert judgment techniques involve consulting with software cost estimation expert or a group of the experts to use their experience and understanding of the proposed project to arrive at an estimate of its cost. Generally speaking‚ a group consensus technique‚ Delphi technique‚ is the best way to be used. The strengths and weaknesses are complementary to the strengths and weaknesses of algorithmic method. To provide
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Cost Accounting Manual 2013 STUDY NOTES FOR COST ACCOUNTING BY ATAUSH SHAFI Last Updated on: Tuesday‚ January 01 01‚ 2013 1 © For Suggestions & Feedbacks‚ contact: ATAUSH SHAFI (ataushshafi@gmail.com) Cost Accounting Manual 2013 Table of Contents CIMA OFFICIAL TERMINOLOGY .................................................................................... 3 COST OF GOODS SOLD FORMULE................................................................................ 13 COST CLASSIFICATION ...
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the costs for the year. The restaurant wanted to see what some of their fixed and variable costs were for the year. They also wanted to make sure they remain in their relevant range. The costs focused on were the cost of hamburgers (raw materials) and the cost of building rent. It was determined that the raw materials were the variable costs because the cost will vary based on production of hamburgers. A variable cost is a cost that will change in direct proportion to changes in the cost-driver
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Share Driven Pricing - Some Companies are driven to get the most market share. But your goal shouldn’t be market share but maximizing contribution margin. Value Creation – Economic Value‚ Offering Design‚ Segmentation. Product manager face challenge as they are expected to set prices that capture the value offered by their products that also maximize price. Typically turns to marketing‚ where research is completed. Example research shows 10% higher customer response‚ but doesn’t gaurntee
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Cost Accounting Cost accounting is a step further to and a refinement of financial accounting in which cost of manufacturing and selling each product or job or rendering service is determined‚ not at the time of accounting period but at the time when the product is manufactured or any service is rendered. In simple words‚ costing is a systematic procedure for determining the unit cost of output produced or services rendered. It provides for an analysis of the expenditure which enables the management to
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Corporate Law 1. Discuss the position of guarantee in respect of loans to a minor. 2. Does the release by the creditor of one of the sureties discharge the others? 3. Explain the provisions relating to appointment of directors in Producer Company. 4. Two separate company wish to amalgamate. State the steps which they must take for this purpose. 5. Does the failure of inspector to submit his or her report in time amount to an end to investigation? 6. A‚ the secretary of the company is also a minority
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Date: _____12/3/2014_____ Class: Algebra 2 Explore Linear Models: Years of School Average Weekly Paycheck Some high school 11 450 High school graduate 13 585 Some college 15 810 Bachelor’s degree 17 1000 Master’s degree 19 1250 Doctoral degree 21 1600 1) Which type of function (linear‚ exponential‚ or cubic) do you believe will best fit the data? Support your choice. My choice would be a Linear Function because it doesn’t go through an intersection like an exponential function would‚ it also
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divisions 3 of them were: * Imaging System Division (ISD) sold ultrasound and magnetic imaging system * Heidelberg Division (Heidelberg) sold high resolution monitors‚ graphics controllers and display subsystems 50% served ISD‚ 50% outside customer * Electronic Component Division (ECD) sold application specific integrated circuits and subassemblies. It was established as a captive supplier to other Zumwald divisions but now served outsider also * Total revenue € 3 billion
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