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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Cost reduction Generally defined as the act of cutting costs to improve profitability. Cost reduction‚ should therefore‚ not be confused with cost saving and cost control. Cost saving could be a temporary affair and may be at the cost of quality. Cost reduction implies the retention of essential characteristics and quality of the product and thus it must be confined to permanent and genuine savings in the costs of manufacture‚ administration‚ distribution and selling‚ brought about by elimination
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Classify each cost listed below as either a product cost or a period cost for purposes of preparing the financial statements for the bank. 1. The cost of the memory chips used in radar set. * Product Cost 2. Factory Heating Cost * Period Cost 3. Factory Equipment maintenance costs. * Period Cost 4. Training costs for new administrative employees * Period Costs 5. The cost of the solder that is used in assembling the radar sets. * Product costs 6. The Travel
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Q: Is depreciation expense or depreciation cost is fixed cost or variable cost in nature? Fixed costs: Fixed costs are such costs that do not change with the change in activity level within the relevant range. Where relevant range can be defined in terms of time or activity level. Variable costs: Variable costs are such costs that change with the change in activity level . Coming to the question‚ depreciation expense or depreciation cost can either be fixed or variable and this depends on the
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Cost Accounting – Classification of costs Cost accounting refers to a process of accumulating‚ recording‚ classifying and analyzing all costs incurred at various levels of production. The purpose of cost accounting is manifold. It provides a final selling price‚ suggests the best possible course of action where maximum savings are possible and a strategy for future. Cost accounting is also constructive in comparing the input and output results that ultimately aids the management to arrive at a financial
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Thinking | Motivation Concepts KEY: pg 29 5. The Academy of Management Review is an example of a journal used in entrepreneurial research. ANS: T PTS: 1 NAT: AACSB Reflective Thinking | Motivation Concepts KEY: pg 29 6. Government publications are used in researching small business. ANS: T PTS: 1 NAT: AACSB Reflective Thinking | Motivation Concepts KEY: pg 30 7. Inexperience and incompetent management are the main reasons for failure.
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Does culture impact on entrepreneural activity? The influence of national culture on entrepreneurship is of considerable theoretical and practical value ‘Culture is the collective programming of the mind which distinguishes one group of people from another’ Hofstede (1980) Culture is always a collective pheniomenion‚ becauce it is derived from one’s social environment and partly shared with people who live or lived within the same social environment‚ which is where it is learned. Culture indeed
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being harmed (damaged) by human activity. Others feel that human activity makes the Earth a better place to live. What is your opinion? Use specific reasons and examples to support your answer. We all know that people in the prehistorical period had to struggle natural environment in order to make livings. They had to hunt preys and gather fruits‚ even cut down trees to build their houses. However‚ as technology improved‚ many people are aware of human activities have great influence on our living
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February 2003 English and French only THE IMPACT OF LOW COST CARRIERS IN EUROPE (Presented by Albania‚ Armenia‚ Austria‚ Azerbaijan‚ Belgium‚ Bosnia and Herzegovina‚ Bulgaria‚ Croatia‚ Cyprus‚ Czech Republic‚ Denmark‚ Estonia‚ Finland‚ France‚ Germany‚ Greece‚ Hungary‚ Iceland‚ Ireland‚ Italy‚ Latvia‚ Lithuania‚ Luxembourg‚ Malta‚ Moldova‚ Monaco‚ Netherlands‚ Norway‚ Poland‚ Portugal‚ Romania‚ Serbia and Montenegro‚ Slovakia‚ Slovenia‚ Spain‚ Sweden‚ Switzerland‚ The former Yugoslav Republic
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“The Effect of Level of Activity on Clothespin Squeezing Amount Question: Does exercising/ resting affect the number of times you can squeeze a clothespin in a minute? Hypothesis: If the person DOES NOT exercise before the task then‚ they will be able to squeeze the clothespin more because not exercising/resting allows the body to relax and there are no buildups of waste products. Biological Explanation: Both the respiratory system and the circulatory system are involved within my experiment
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