PRINCIPLES OF COST CONTROL 1.1 Introduction Cost is important to all industry. Costs can be divided into two general classes; absolute costs and relative costs. Absolute cost measures the loss in value of assets. Relative cost involves a comparison between the chosen course of action and the course of action that was rejected. This cost of the alternative action - the action not taken - is often called the "opportunity cost". The accountant is primarily concerned with the absolute cost. However‚
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dollars and cents to the nearest cent. S = $ [1 out of 1]- Feedback Your answer is within an acceptable range of the correct answer and you have received full marks. Calculation The accumulated value can be calculated using the following formula: show variables P = amount invested = $70‚000 r = simple interest rate (decimal) = 2.04% = 0.0204 t = time period (years) = 380 365 = 1.04109589... S = accumulated value = unknown S = P(1 + rt) = 70‚000 × (1 +
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Empirical Formula of a Compound * Purpose: To determine the empirical formula of Magnesium Chloride. * Data 1. Mass of evaporating dish = 45.08g 2. Mass of evaporating dish and Magnesium = 45.17g 3. Mass of Magnesium: { 2 } – { 1 } = 0.09 4. Mass of evaporating dish and Magnesium Chloride First weighing = 45.48g (After heating and cooling) second weighing = 45.49g 5. Mass of Magnesium Chloride: { 4} – { 1 } = 0.41g
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is $72‚000. Calculate 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
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TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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CHEM 1105 Experiment 4: Determination of a Chemical Formula Introduction When atoms of one element combine with those of another‚ the combining ratio is typically an integer or a simple fraction. The simplest formula of a compound expresses that atom ratio. When two or more elements are present in a compound‚ the formula still indicates the atom ratio. To find the formula of a compound we need to find the mass of each of the elements in a weighed sample of that compound. For example‚
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| | |Axia College/College of Natural Sciences | | |HCR/220 Version 3 | | |Claims Preparation I: Clean Bills of Health | Copyright © 2009‚ 2007
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CAPACITY Lung capacities are combinations of specific lung volumes. The lung capacities are measurements of two or more volumes. The total lung capacity (TLC) is a measurement of the total amount of air that the lung can hold; normally it is 6 litters for adult male and 4.2 litters for an adult female. The vital capacity (VC) measures the maximum amount of air that can be inhaled or exhaled during a respiratory cycle. The Residual Volume (RV) is the amount of gas remaining the lungs after a maximal
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Cost Management or Cost Control In broad sense‚ both the terms have the same meaning. Yet cost management seems to connote broader perspective. Cost control to an un-initiated may mean cutting down the incurrence of cost or expenditure every time or in every situation. In reality it is not always so. In many specific situations‚ many times‚ one has to spend or incur cost in order to gain or make more money. It is in fact like an investment. Cost management sounds better then. Profits Making
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Quality Cost 1 Quality is defined from the customer´s point of view l Performance l Performance or the primary operating characteristics of a product or service. Example: For a car‚ it is speed‚ handling‚ and acceleration. For a restaurant‚ it is good food. l Features l Features or the secondary characteristics of a product or service. Example: For a TV‚ it is an automatic tuner. For a restaurant‚ it is linen table cloths and napkins . l Reliability l Reliability
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